Digital assets in the cryptocurrency market are taking an extended trip downstream trimming the gains that have been gathered since the Bull Run that was led by Bitcoin in April. Most currencies are on a journey of their own with some testing key support areas while others are bouncing back to break past the barriers heading to the upside. The largest blockchain event, the Consensus Conference has just ended in New York.
The market ignored predictions form top analysts like Tom Lee. Instead, of spiking in yet another much-awaited Bull Run, the cryptos have been correcting lower. However, there are several coins that have the potential to scale the heights amid all the negative pressure. They present the best buy opportunities, consequently, good return on investment (RoI) to the willing investor. As the week comes to an end, let us dive into the best coins to buy now. Investing in IOTA (MIOTA) and Binance Coin (BNB) while the market is down could be a good decision in the long run.
IOTA is a digital asset that is redefining trust, value as well as ownership by empowering the global community to come up with a shared economy. In other words, it is essentially a permissionless Distributed Ledger for the shared economy. It boasts of being the very first distributed ledger that is getting its fuel from the future of the Internet of Things coupled with feeless microtransactions.
IOTA has been on the radar of many investors due to its well-developed technology, besides it is providing real-world solutions for the future. The network has been entering into partnerships with some of the global leaders in technology, for instance, the latest partnership with Kontakt.io: A platform that has been designed to allow secure sales while sharing location and data. Moreover, IOTA is soon launching its much-awaited Trinity wallet. The wallet will be app-store based giving the users the flexibility of use.
IOTA price is currently trading at $1.7 at the time of publishing, while it traded above $2.69 on May 3. An upside movement will see IOTA recover the trimmed gains and could attack $3.0 again before the end of May. As we move into the second half of the year, the cryptos could generally correct higher.
Binance Coin (BNB)
Binance Coin (BNB) is the cryptocurrency that was issued by the largest cryptocurrency exchange, Binance. The coin was introduced through an ICO and had a total supply of 200 million. Something that makes Binance Coin a great asset for investment is that Binance promised in the whitepaper to buy back some of the BNB using 20% of the profits and burn them. The burn will continue until the time only 50% of the total supply has been left, in other words, they intend to bring down the total supply from 200 million to 100 million.
As a cryptocurrency launched by an exchange, it has various forms of utility, for example, it is used to pay trading fees on the platform and rewards traders with a 50% discount for using the coin. It also powers the Binance ecosystem, besides it is traded on other exchanges as well. At the time of writing, BNB/USD is exchanging hands at $14.37, although it traded highs of $16.00 during the Asian trading hours earlier in the day. Binance Coin is the only cryptocurrency surging in price among the top coins. It is up 14.90% in the last 24 hours, while in January 2018, it traded at $22.6 marking its all-time high. Binance is currently correcting higher and has the potential to attack $20.00 and create a new high in the near future.