Autor: dot-traders

There is a mismatch between LINK’s price and its levels of adoption.

Key points:

• Chainlink has dropped heavily in value and market cap rankings in 2022.

• Nonetheless, it remains one of the most adopted cryptocurrencies for decentralized data.

•  A combination of depressed prices and growing adoption makes LINK a value buy today. 

Chainlink (LINK) has been on a downtrend for most of 2022. While the broader market has primarily been bearish this year, LINK has particularly taken a big hit and even lost its position as a top 20 cryptocurrency by market capitalization.

However, these price dynamics don’t mean that LINK is a lousy investment. It remains solid crypto with good potential long term. For context, consider that LINK has Bitcoin-like dominance in its core markets.

Chainlink is a decentralized oracle cryptocurrency and controls over 60% of this market. This makes it more significant than all its competitors combined. Besides dominance, it is also noteworthy that the decentralized oracles market is growing fast. That’s because it entails supplying smart contracts with decentralized real-world data. Since the Dapps market is on a growth trajectory, the odds are that the demand for Chainlink will keep going up over time.

Is Chainlink a good buy?

From the above analysis, it is clear that Chainlink has a good future ahead of it. As long as the Dapps market is growing, so will the value of LINK. Besides the fundamentals, LINK’s price has dipped from highs of $52 to $7.16. That’s a drop of 86%. While there are no guarantees in crypto, the price drop makes LINK a highly undervalued cryptocurrency. Moreso, when you consider that Chainlink adoption is rising across the cryptocurrency ecosystem.

Conclusion

While Chainlink’s price has tanked and its position in market cap rankings dropped, it is still one of the best out there. Its levels of adoption remain high relative to many other cryptocurrencies in the market today. This makes LINK massively undervalued.

The post Chainlink – A highly undervalued cryptocurrency to buy in 2022 appeared first on CoinJournal.

Growing adoption and deflationary tokenomics make BNB crypto worth buying

Key points:

• BNB is used for paying fees at Binance, the largest exchange in the world. 

• BNB is also deflationary, which means long-term demand will outpace supply.

• BNB is currently trading at over 50% off its all-time highs, making it a perfect buy for long-term investors.

As the bear market rages on, it is only natural for investors to look for cryptocurrencies that offer safety and potential growth. While Bitcoin is the number one on this front, Binance Coin (BNB) is another cryptocurrency with good odds. Going by its price action all through 2022, BNB is among the cryptocurrencies that have held value better than most.

This has a lot to do with its strong use case. Unlike most cryptocurrencies only for speculative purposes, BNB has an actual use case for paying fees across the Binance ecosystem. The best part is that the Binance ecosystem is pretty huge and is continually growing in size, further adding to BNB’s strength. 

Binance launched in 2017 but has since grown to be the largest cryptocurrency exchange by volume. It is also continually adding its product offering, further adding to the use cases for BNB. For instance, the Binance ecosystem now includes the Binance Smart Chain, one of the most significant launch platforms for Dapps today. Essentially, BNB is one of those cryptocurrencies with a very low chance of crashing without warning, as happened to LUNA in May 2022.

Besides the use cases giving BNB some downside protection, there is every reason to believe that BNB could do well going into the future. That’s because its supply is always going down over time. This is all thanks to the Binance Coin burns that happen every quarter. With shrinking supply and growing demand, the odds are that BNB will keep going up over time.

Is Binance Coin a good buy today?

Binance coin is, without a doubt, an excellent cryptocurrency to buy now. For starters, it has solid fundamentals, as discussed above. Then there is the fact that the market is strongly bearish, and BNB prices are more than 50% off their all-time highs. This price correction presents an opportunity to buy BNB at discounted prices in anticipation of the next bull run and the quarterly BNB token burns. 

Conclusion

Binance Coin’s growing usage and shrinking supply play in its favor long term. Now that crypto prices are heavily depressed, BNB presents a buying opportunity for long-term investors.

The post Is Binance Coin (BNB) worth buying today? appeared first on CoinJournal.