Top Cryptos To Buy May 1 – Bitcoin, Ethereum, Chainlink

The market has been in a correction for over a week. However, the selloff has accelerated in the last 24 hours, as Bitcoin lost the $60k support. While this has triggered double-digit percentage selloffs in the altcoin market, it also presents an opportunity to buy into high-value assets. 

Among the best cryptocurrencies to buy in the current market are those with some dominance in their core markets. That’s because they are likely to rebound first before the other segments of the market follow. 

This article looks at high-potential cryptocurrencies to invest in now, thanks to their dominance in their respective markets. 

Best Cryptos To Buy May 1

This section looks at the best cryptocurrencies to buy now and capitalize on a potential rebound. We dive into Ethereum, the largest and most dominant L1; Chainlink, the most dominant cryptocurrency in the decentralized oracles space; and NEAR Protocol, one of the fastest-growing cryptocurrencies in the AI space. We also look at Dogecoin, the largest and most popular meme coin, and, of course, Bitcoin, the market leader and key determinant to the overall direction of the cryptocurrency market. 

Chainlink (LINK)

 Chainlink (LINK), like the rest of the market, has experienced a massive correction in the last 24 hours. From highs above $20 over a month ago, Chainlink is now trading at a low of $12. This makes for a perfect setup to buy the dip because, despite the dip, Chainlink’s core fundamentals have remained strong. 

For context, Chainlink remains the largest and most decentralized Oracle network in the market today. Adoption is also rising as most networks that need financial data turn to Chainlink. Chainlink’s dominance has also seen it gain regular media attention compared to other decentralized oracle networks.

#Chainlink and @RapidAddition are building a CCIP-based blockchain adapter compatible with the @FIXTrading protocol, the trade communications standard for global financial markets.

How this development will unlock digital asset trading for institutions: https://t.co/lSg0DdVsR8

— Chainlink (@chainlink) May 1, 2024

So big is Chainlink that it accounts for over 50% of the decentralized oracles market. This makes Chainlink an integral part of the growth of the crypto market. It also positions it for a significant rebound once the selloff subsides. Once decentralized oracle cryptocurrencies make a comeback, the industry leader Chainlink stands to lead the comeback.

The odds of Chainlink hitting $20 or more in the short term once the market finds a bottom are pretty high. It makes for an undervalued cryptocurrency to invest in today and hold for the long haul. 

Read More: Chainlink Price Prediction & Forecasts

Ethereum (ETH)

Ethereum (ETH) is another large cap cryptocurrency that makes sense to buy the dip. One thing that makes Ethereum a good buy is that it is the most dominant and most adopted L1 in the market today. This tells investors that it could be a safer bet in times like these of high uncertainty. Ethereum’s growing adoption as a mainstream financial asset also points to its potential for growth. On April 30, Ethereum ETFs started trading in Hong Kong. 

Investors are starting to treat Bitcoin and Ethereum differently.

The simultaneous launch of spot ETFs in Hong Kong yesterday saw ETH capture ~30% of the inflows BTC did; in line with their market caps.

One caveat: ETH underperformed BTC by 50% at the largest asset manager. pic.twitter.com/4yqdqpCMSM

— Joe Consorti ⚡ (@JoeConsorti) April 30, 2024

There is also growing speculation that US Ethereum ETFs could become a reality. That’s despite all the uncertainty around them at the moment. However, it is not their approval or lack of it that counts. The fact that there is consideration of such a thing as an Ethereum ETF means Ethereum will keep drawing in investors looking for a mix of safety and growth from the cryptocurrency market. It is also notable that Ethereum has remained true to the core blockchain fundamentals, especially security and decentralization. This is a big deal as network users are always sure that transactions will be completed.

Additionally, Ethereum is taking steps to improve areas in which it is weak, such as transaction costs. The latest of such upgrades was the Dencun upgrade in March, which cut costs on Ethereum L2s by up to 99%.  All these strengths and Ethereum’s dominant position in the smart contracts space make it one of the best cryptocurrencies to buy now. 

Near Protocol (NEAR)

Near Protocol (NEAR) is one of the most dominant cryptocurrencies in the fast-growing AI space. Near Protocol’s standing among AI cryptocurrencies was elevated after the previous leader, Fetch.Ai, created market uncertainties through the announcement of a merger. Near Protocol has the fundamentals for what makes for a good AI cryptocurrency. 

That’s because NEAR was initially developed as an AI cryptocurrency before it pivoted to blockchain. It has since pivoted back into AI and wants to leverage the power of AI to make blockchain more efficient.

Data availability on NEAR offers unmatched performance and cost efficiency.

Now available with @rss3_

Learn just how fast and affordable NEAR DA is:https://t.co/q0XGWX2616 https://t.co/cAxxQVH3sD

— NEAR Protocol (@NEARProtocol) April 30, 2024

This positions Near Protocol for growth, especially in the fast-emerging Web 3.0 market. Also, given all the excitement around AI that cuts across the financial markets, investor interest in AI cryptocurrencies will only get stronger. With NEAR Protocol now a market leader in this space, the odds are high that it will attract most of these investments. As such, even with the market dip, NEAR stands to make a strong rebound once the crypto market finds its footing again. 

Dogecoin (DOGE)

Dogecoin (DOGE) is the number one meme coin by market cap. It is also the most popular thanks to its longevity in the market. This gives Dogecoin a leg up, especially in attracting new investors looking to try a hand at meme coins. 

However, it is not just its standing as the largest meme coin by market cap that makes Dogecoin attractive. There is also the fact that Dogecoin is increasingly gaining adoption in payments. Recently, the Dogecoin developer team released the GigaWallet, which makes it easy for businesses to integrate Dogecoin into their payment systems. This further adds to the growing faith in Dogecoin relative to other meme coins. 

This will save the 🌍#gigawallet #dogecoin #doge pic.twitter.com/1Eo6JHF2ee

— winediscoveri (@winediscoveri) March 26, 2023

Bitcoin (BTC)

Bitcoin is the crypto market leader and determines how altcoins trade. As such, for investors looking to buy the dip, Bitcoin is a good starting point. That’s because it is only once Bitcoin turns strongly bullish that altcoins will also rally. 

The 3 Hong Kong spot #Bitcoin ETFs are going to start trading in a few hours. They’re ready to go on Bloomberg/@TheTerminal pic.twitter.com/SSCB09p57b

— James Seyffart (@JSeyff) April 29, 2024

Besides, Bitcoin fundamentals are stronger than ever before. Today, Bitcoin ETFs are coming up worldwide and offering investors an easy entry point into Bitcoin. This is a massive source of demand, and with the recent halving, this increased demand could propel Bitcoin to hundreds of thousands of dollars per coin.