Market Crash: 2 Top Cryptocurrencies to Buy Right Now and Hold
The last 12 months have taken crypto investors for a wild ride. The market plunged in May, shedding 50% of its value in a matter of weeks. Then the frenzied enthusiasm returned, sending the crypto market to new highs in November. Unfortunately, the tide has turned once again. The collective value of all cryptocurrencies currently sits at $2 trillion, a third below its all-time high.
However, there is a silver lining for long-term investors. Decentralized finance (DeFi) applications -- products that feature programmable money, making it possible to borrow, lend, and earn interest without going through a bank -- make financial services more efficient. And investors are throwing money at these platforms. Over the past year, DeFi investments have soared 1,000% to $242 billion.
More importantly, given its value proposition, I think DeFi will continue to gain traction in the years ahead. And both Avalanche (CRYPTO: AVAX) and Terra (CRYPTO: LUNA) have become key players in this emerging industry, a quality that makes both cryptocurrencies smart long-term investments. Here's what you should know.
Source Fool.com
