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Top 3 altcoins to buy the dip as cryptocurrencies recoil

By:
on Dec 29, 2021
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  • Cryptocurrency prices have suffered a harsh pullback in the past few days.
  • They have all lost more than $200 billion in value this week.
  • We identify three cryptocurrencies that could rebound.

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Cryptocurrency prices suffered a harsh reversal this week after they bounced back during the Christmas weekend. It is unclear why this happened as Bitcoin crashed from $52,000 to about $47,000. Their total market capitalization fell from $2.6 trillion to about $2.4 trillion. This article will look at the top 3 altcoins to buy the dip.

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Polygon

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Polygon (MATIC) price has declined by about 2% in the past day. It is trading at $2.58, which is close to its all-time high.

Polygon is a layer-2 network that helps developers to optimize their Ethereum applications. Many developers are also considering building their apps directly on the platform.

As a result, Polygon has seen significant growth recently as the number of DeFi apps in its ecosystem has grown to 149 and the total value locked (TVL) risen to $5.5 billion. The most popular recent addition to the network was Uniswap, one of the biggest DeFi platforms in the world.

More apps are moving to Polygon. This means that there is a possibility that the Polygon price will keep growing in the near term.

Terra

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Terra (LUNA) is a South Korean blockchain project that has been in an explosive growth recently. The network allows developers to build apps such as those in the DeFi industry.

While Terra has just 13 apps in its ecosystem, they have a TVL of $18.1 billion. This makes it the second-biggest platform after Ethereum. It is even bigger than popular names like Solana and Binance Smart Chain.

Terra is also known for its stablecoins. The most popular of them is TerraUST, which has become the fourth-biggest coin in the world. Therefore, as its adoption grows, there is a possibility that the Terra price will rebound.

Fantom

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Fantom (FTM) is another Ethereum-killer that is also popular among developers. The company also helps developers build decentralized applications. Recently, it has seen the number of apps in its ecosystem grow to 102 and their TVL rise to $5.79 billion. That has made it the 6th biggest DeFi building platform in the world.

Fantom price has jumped sharply in the past few days, bringing its total market capitalization to more than $5.87 billion. As its popularity grows, there is a possibility that its price will bounce back.

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