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The crypto market is going through a rough period as the bear market takes over. Strategic investors are stocking up on these tokens to stay profitable, despite the broader market downtrend.
Polygon (MATIC)
One of the best cryptocurrencies to buy now under the high-cap category is Polygon (MATIC). Having lost 31.5% of its value over the year, the token is expecting a steep price correction.
Given that the broader market maintains its stability, MATIC is poised to make a U-turn and recover its losses over the rest of the year. Investors will come across different entry points to Polygon in the coming weeks. But it’s best to exercise patience and wait for the breakout point before buying MATIC.
The MATIC price has been on an interesting and quite unexpected journey over the past year. The broader market downturn impacted the token heavily. While the verdict in the SEC-Ripple case provided a relief, the crypto coin has been largely lackluster.
It’s too early to predict whether the MATIC price will surpass the long-awaited $1 milestone. But it’s certainly within reach. The launch of Polygon zkEVM, the release of Polygon ID Release 4, and the introduction of the Uptrip Loyalty Program will fuel the price action.
Chimpzee (CHMPZ)
Chimpzee is a wildlife conservation token – one of the first of its kind in the crypto market.
The project’s goal is to bring more energy to wildlife conservation and ecological regeneration by harnessing the power and popularity of blockchain technology.
On the technological front, the token benefits from the decentralized nature of blockchain technology, which renders it an excellent tool for global coordination. In addition, the token taps into the popularity of crypto incentivization to ensure participation and engagement from a younger demographic.
Chimpzee has introduced three platforms to realize its goal – Chimpzee Merchandise Store (Shop to Earn), Zero Tolerance Game (Play to Earn), and Chimpzee NFT Marketplace (Trade to Earn). All three provide attractive sources of passive income for users.
The CHMPZ token has yet to go live. It is currently in the public presale stage and comes with attractive discounts and offers. Interestingly, the project initiated its environmental goals even before the token launch.
- 1200 trees to restore Brazil’s rainforest
- $15,000 to save Elephants
- 20,000 trees in Guatemala
The project is working with leading organizations like Wild Foundation, One Tree Planted, Rainforest Rescue, and The Giving Block to implement its plans.
The high market relevance of the project among the growing tribe of eco-conscious investors makes Chimpzee (CHMPZ) one of the best cryptocurrencies to buy now. The intensive burning and staking mechanisms of the project, in addition, strengthen its growth potential.
The token has the steam to generate anywhere from 4X to 10X returns for presale investors on its release.
Cardano (ADA)
Cardano is one of the least-performing cryptocurrencies of 2023, with ADA’s price experiencing a steep dip of 38.81% over a year. ADA proved to be a bad high-cap investment in 2023. But that’s so far.
In the weeks ahead, the coin is preparing to reverse the losses it made over the year.
Hope is on the horizon with the Cardano Summit 2023 scheduled to take place from November 2 to November 4, 2023. ADA is known for setting new benchmarks in scalability, interoperability, and robustness. But the project’s proactive awareness campaigns have played a pivotal role in its success as well.
For example, the upcoming Cardano Summit 2023 will serve as a platform for raising awareness about the digital asset. It is crafted to educate both the crypto and traditional communities on blockchain and DeFi. This event will bring together leading ambassadors, advocates, and industry experts under one umbrella.
Interestingly, CoinDesk Studios is among the official sponsors and media partners for the event. The partnership will improve the project’s social visibility in the coming weeks.
More importantly, a price correction has been overdue for ADA.
ADA is likely to touch $0.65 toward the end of the year, assuming that the larger market is mostly green. But a more realistic Cardano price prediction is $0.45.
Verdict – Which is the Best Crypto Coin to Invest in During the Current Bear Market?
If you have your eyes on a high-cap cryptocurrency, MATIC is the obvious choice. The cryptocurrency has multiple exciting milestones scheduled, including the launch of Polygon zkEVM. Cardano is also a decent choice. But the potential returns from these two cryptocurrencies range below 50% as they are highly saturated, especially in the current market environment.
Chimpzee, on the other hand, shows more promise. Being in the early stages of development, Chimpzee has a lower market cap, which will favor early investors. The green blockchain project’s scope for partnerships with global brands will be pivotal in its price action on the initial exchange listing.
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