Cryptocurrencies have had a long crypto winter in 2022 as concerns about the industry continue. In total, crypto prices have plunged by more than 60% in 2022, shedding over $2 trillion worth of value. Bitcoin has slipped to $17,000 while the FTX Token has become worthless. Here are some of the best cryptos to buy this winter.
GMX
GMX is one of the fastest-growing players in decentralised finance (DeFi). It is a platform that makes it possible for people to trade cryptocurrencies and perpetual contracts in a decentralised manner.
Many traders prefer GMX because of its significant speed and lower costs since it is built on top of Arbitrum and Avalanche. Therefore, as concerns about centralised exchanges grow, there is hope that most investors will start to embrace DEXs. If this happens, GMX will likely be one of the top platforms to watch.
GMX has seen the total volume locked (TVL) jump to an all-time high of almost $1 billion. At the same time, GMX price has soared to the highest level in months. Therefore, there is a likelihood that the token will continue rising as a rotation to DEXes continue.
How to buy GMX
dYdX
dYdX is another leading DEX that provides a simple-to-use platform where users can buy and sell cryptocurrencies. It handles hundreds of millions of dollars on a daily basis, making it one of the biggest exchanges in the world. Like GMX, the total value locked (TVL) in dYdX has risen to more than $440 million.
There are two main reasons why the dYdX is a good crypto to buy in Winter. First, the network is building its dYdX chain on Cosmos. The token could rise on hopes of more activity in the protocol. Second, dYdX price will likely rise as activity in the network increases.
How to buy dYdX
Ethereum
Ethereum is another top crypto to buy in Winter. A closer look at ETH price chart shows that the coin has managed to stay afloat above $1,000 during the ongoing crypto winter. This is a bullish factor. At the same time, the network will launch its next upgrade in Q1’23. This upgrade will unlock the funds that have been staked in the network.
Further, Ethereum remains the biggest player in all industries, including DeFi and Non-Fungible Token (NFT). Therefore, there is a likelihood that the coin will bounce back in the coming months.