The year 2022 defenitely started as a testing period for cryptocurrencies. As the year started, Cryptocurrencies faced a dip in their prices. Most experts and investors took a back step, yet some invested in the dip. However, cryptocurrencies in the past have faced such price drops and regained effectively.
Based on that data, investors were pretty confident that cryptocurrency prices will increase. The interest in these unregulated currencies is increasing day by day. It has become a primary choice of asset investment for most young investors. However, the Russia Ukraine crisis has flashed its lights on other beneficial aspects of cryptocurrencies.
Russia Ukraine crisis's impact on cryptocurrency
As the crypto market started to stabilize from the previous price drop, the Russia Ukraine crisis started in February. With sanctions being slapped on Russia every day and the world economy facing big changes, cryptocurrencies faced another price drop.
As soon as the military invasion occurred, most cryptocurrencies prices started plummeting. Major cryptocurrencies like Bitcoin faced a low of 7.9%.
Dogecoins, altcoins, and stable coins also faced a low during the invasion. Well not just the crypto market but also the general stock market faced a major price dip.However, Bitcoin and other cryptocurrencies were back on track pretty soon. As we all know that cryptocurrency markets are highly dynamic. So this revival in the cryptos sector came as a surprise. The crypto analyst and enthusiasts throughout the world started rejoicing this comeback.
Ukraine used cryptocurrencies to generate funds to support their defence. The Russians are heavily invested in cryptocurrency and trying to cash the amount through the UAE with fear of accounts being freezed.The Ukrainian vice prime minister also has requested cryptocurrency exchanges to ban russian clients.
Some experts suggest that this may not be an ideal option as there are multiple ways and unregulated exchanges where one can easily buy and sell cryptocurrency. The Anonymity provided by cryptocurrencies plays a major role in this game.
I would recommend reading this article: 5 impacts of War on cryptocurrencies. I have covered all the impacts of the Russia Ukraine crisis on cryptocurrencies. Multiple other benefits of cryptocurrencies have been recogonized on a global stage. In this article, I have discussed the top 5 cryptocurrencies to invest in march 2022 that have fared well in this emergency crisis and have proved to be a worthy investment.
Cryptocurreny number 1 : Bitcoin
Bitcoin was the first cryptocurrency to take a dip as soon as the invasion occurred and the first one to revive. Bitcoins have proved to be a worthy investment during this Ukraine Russia crisis. The Ukranian parliament has adopted Bitcoin at this crucial time.
Some investors have also started believing that Bitcoins can hedge against inflation. The fact Bitcoins can never grows more than 21 million also adheres to this thought. As of March 27, Bitcoin is trading in green at 44,496 dollars which is a massive recovery compared to the market dip in February.
As soon as Russia invaded the Ukraine Bitcoin price fell below $35000. It faced an 8% decline over 24 hours compared to the lowest point of $68990 recorded in November. But the scenario changed by march 1st week as the Bitcoin prices increased amid economic tension to $44000.
Due to the geopolitical crisis, Russia's Ruble weakened in the global economy. As of March 27th, Rubel is still trading in the red.The Russian Ruble is equal to 0.0099 dollars. Bitcoin drastically grew in its market cap ahead of the Russian Ruble. Now it is the 14th most valuable currency, this declares that Bitcoins are still on the top.
Cryptocurrency number 2 : Solana
As per statistics, Solana has proved to be the best performing cryptocurrency. It has been continuously attracting crypto investors and has grown to more than 15000 % from last year. It is good growth considering the present economic condition.
It is safe to say that it is one of the best cryptocurrencies to invest in 2022.In comparison with other cryptocurrencies, Solana has better fundamentals and efficient coins. NFT project degenerate ape academy launched in mid-August gave a boost to Solana.
As soon as the Russia-Ukraine invasion started, Solana faced a drop. As per analytics, Solana coin lost 21% value within seven days. it started to recover from the market's bull run.
I like to highlight that when compared to highly popular NFT launches on other Blockchain networks like Ethereum, the mining of Apes was very smooth. It didn't have any form of inflated transaction fee. Being the ninth largest cryptocurrency and with a speed of 2500 transactions per second displays the coins potential, it is worth an investment.
Solana is the leading Ethereum competitor. - Bitwise asset management CIO Matt Hougan
Cryptocurrency number 3: Lucky Block
The lucky block got lucky this year. Being the new and exciting cryptocurrency project based on blockchain technology has gained millennial attention. It is a Binance chain-based protocol that focuses on providing fair online gambling. It has a better investment scheme for all the users and the potential for long-term holders to benefit from jackpot winnings.
Initially, it was launched on a popular decentralized exchange called pancakeswap. It received a warm welcome and had 150% record within 24 hours. The cryptocurrency token is a first of its kind and has pumped over ten times its pre-sale value. It allows players to access the world lotteries safely and transparently. Gaming outcome is random and credible.
Being a revolutionary introduction in the lottery industry, it is an investment worth purchasing the digital token.I would highly recommend you to look at this video from Leo Dominic a channel dedicated to blockchain events, reviews and interviews. Leo shares all the information regarding lucky blocks.
Cryptocurrency number 4: BNB
Binance coin has also literally shown growth during this crisis. Being one of the largest crypto exchanges in the world has facilitated major traits on exchanging platforms. Multiple offers like providing discounts for investors who pay transactions fee using Binance coin has kept it growing.
Despite being the latecomer in the industry, it has become a trendsetter by becoming one of the biggest and most trusted crypto exchanges to date. Fees paid using BNB will provide a 25% discount. This factor has contributed to the growth of BNB tokens by 4.49% in the Russia Ukraine crisis. This proves that this token has fared well under the economic situation.
As per the expert prediction, BNB continues to grow in the coming days. Despite facing an all-time low in October 1927, there was no looking back for this cryptocurrency. As of March 27th, 2022, the Binance coin traded in green at 413.19 US dollars. The experts suggest investing in BNB.
Cryptocurrency number 5 : Ethereum
Ethereum is the second-largest cryptocurrency and has made a startling recovery from the price dip. This provides a range of applications, not just adhering to digital finance. This cryptocurrency exchange automation reduces bureaucratic hurdles by implementing smart contracts.
Ethereum also faced a market dip as soon as Russia invaded Ukraine. It has stabilized way more than its initial stage. Then compared to the past five years, Ethereum has grown by 22000%. With Ethereum 2.0 and multiple upgrades waiting in line in the following years, Ethereum is growing and is considered one of the best investment vehicles by some crypto experts.
Bonus cryptocurrency : Bitgret
Bitgret became the hero during the market slump due to the Russia Ukraine crisis. The Bitgret team released multiple products on the BRISE BRC20 blockchain. As a result, its price grew by 110% in a short period. It was possible because it is a zero gas fee blockchain.Presently the price of Bitgret is around $0.000001185, and some experts are predicting that it may reach $0.0001. The numbers may seem meager, but it is notable growth.
The team has plans to launch multiple projects in the coming days to make sure the Bitgret ecosystem growed faster and reaches a higher price. This particular cryptocurrency has major growth options.
With Bitgret startup studio launching new projects on the blockchain every day, it is clear that this coin will reach the predicted amount very soon. The plus point is to have zero gas fees. Since the Russia Ukraine crisis has spiked fuel prices, this aspect has propelled the coin to glory.
It is now the fastest blockchain supporting 100,000 transactions per second beating the Solana coin.
If you are willing to invest in Bitgret, choose the best crypto exchange. The coinmarketcap also allows the user to buy Bitgret with different currencies. After selecting the platform, go through the terms and conditions, price points, and other aspects.
After completing the purchase, save it in a cold wallet or trade it at your convenience. Experts advise saving cryptocurrencies in a cold wallet. Some of the biggest cryptocurrency heists were targeted at digital assets stored online or in the hot wallet.
Cryptocurrencies are yet volatile and dynamic. They faced a low during 2022 January from bearing the effect of Russia Ukraine crisis and reviving faster than the actual equity market cryptocurrency has proved their efficiency. I am not suggesting you to invest in any of the cryptocurrencies because it's a decision that has to be finalized after personal analysis. Investment experts still stick to the same 5% investment ratio when it comes to cryptocurrenies.
I have compiled five cryptocurrencies with a bonus point that has fared well under this emergency. The crypto market has faced The Dip and raised above it. It is pretty clear that cryptocurrencies will prevail along with the traditional Fiat currency. Personally, I feel like there is no harm in holding a small portion of cryptocurrencies in your portfolio.