With a bear market looming upon us since last year, it may be wise to stay with coins standing strong in the current conditions!
The overall crypto market has been in a strong downtrend for the past year, and in these times, it is crucial for investors to find coins that have outperformed the market to generate maximum alpha!
Investors often consider major coins the go-to tokens for parking their money.
They may be the safest, and yes, this may be true.
However, monitoring smaller tokens is also important, as they usually have a higher beta. Use this high beta correctly, and your portfolio will outperform the market!
7 Dinos You Should Consider Investing in 2023
Let’s compare the value of $1,000 invested a year ago in a few popular dino coins, some with a huge market cap, whereas others with a significantly lower market cap.
Pro tip: Usually, tokens that sustain their value during bear markets often show investor confidence and intent to HODL. However, for small-cap tokens, position sizing is key so you feel comfortable hodling with market swings during volatile phases!
Although Solana bounced from its lows at the start of this year, it is still at a 40% loss. $1,000 invested exactly one year ago would yield just $600 now. Solana has been through a lot lately.
The FTX scandal left a deep scar that Solana has yet to recover. Recent news was how FTX would sell its $SOL stack to repay customers hasn’t helped either. $SOL is down by 95% from its 2021 peak and suffers from centralization woes. However, the network’s transaction speed and efficacy as an L1 can push its prospects up.
Morpheus.Network has surged by over 140% over the past year during the bear phase, where most tokens are trading lower than their 52-week high. This goes on to show how strong the token is. So, $1,000 invested a year ago in Morpheus.Network would be up to $2,400 now. That’s quite a substantial return for a year-on-year yield!
In December 2022, Morpheus.Network introduced its Masternode program, where users could stake in batches of 1800 tokens for a high interest of 4.5% every quarter. Besides price appreciation, token holders can stake their tokens for lucrative passive income. That’s double the whammy!
Litecoin is a fork of Bitcoin Network and a promising Dino, given the flurry of BTC ETF filings and the recently concluded LTC halving event. Halvings, as you know, are accompanied by post-boom periods.
LTC has witnessed 60% gains from October 2022. However, the downfall has been severe. $1,000 invested in LTC one year ago would yield $1,053. Against the beta Morpheus.Network delivered, LTC gains look meek.
Given MakerDAO’s constant efforts to upgrade the infrastructure behind its stablecoin DAI, MKR is a promising token both in terms of returns and prospects. MakerDAO is the OG Ethereum protocol, which has survived some of the worst bear markets and crashes. The platform has $960 million worth of RWAs in its vaults and stands strong with an 80% increase in price since last year.
MKR has performed exceedingly well, given the Terra-UST crash’s impact and the subsequent bear market. $1,000 invested in MKR tokens would be $1,800 currently. Lucrative enough? Let’s watch out for the remaining contenders first.
Bitcoin Cash has truly been one of the top-performing dino coins during this bear market. It peaked on June 30 and was 160% up one year since! But a recent drop in its prices brings down the $1,000 invested a year back to a whopping $2,110.
BCH was born from a Bitcoin hard fork and has limited use cases, unlike Morpheus. Network. Though BCH, as one of the OGs in the crypto space, is a great contender, it lacks the possibility of use cases and passive income via masternodes.
Monero is popular among the degens for its privacy-enhancing technology and ability to obfuscate transactions for better anonymity. Yup, its utility lies against the very nature of blockchain.
The coin doesn’t seem to have moved much during the past year, moving in a tight $130-$170 range. Your $1,000 invested in Monero would yield $1,290. XMR has started on an ascending trendline a few weeks ago. Let’s see how things turn out.
Looking at the highest market cap masternode token, Dash, we can see that Dash has slumped by over 35% in the past year, 64% from its peak in February this year. This goes to show that Morpheus.Network has a very strong beta against the industry leader!
A $ 1,000 invested in Dash tokens would only yield $650 this year. That’s quite a loss.
This comparison shows how using beta’s to your advantage could play out in your favor. However, investors must maintain caution with higher volatility amongst smaller tokens.
So, Where To Park Your Investments This Season?
While the above list isn’t exhaustive, it talks about the seven most resilient coins that have sustained and thrived during the worst crypto market. Dino coins offer attractive investment avenues in the turbulent crypto waters with a strong use case and roadmap backing their growth and handsome returns to attract more investors.
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of CoinChapter. CoinChapter will not be responsible in any way for the content of the same. Do your research and invest at your own risk.
