They say the stock market is the only market folks don't want to shop for bargains at. It appears the crypto market may fall in line with this thinking.
This weekend, a broad-based crypto crash provided investors with some rather juicy discounts.Among the most discounted tokens following this rout were Harmony (ONE -7.57%), Curve DAO Token (CRV -4.10%), and Arweave (AR -6.32%). These tokens were down 25.7%, 18.4%, and 15.5% from Friday's close, respectively, as of 3:45pm ET.
Each of these tokens were down at least 25% at today's low, compared to Friday's close.
Harmony, Curve DAO, and Arweave are trading higher than their lows hit early Saturday morning following this flash crypto crash. However, these tokens have also trended lower, following a mass market recovery Saturday afternoon.
Investors appear to be taking caution with these alt coins, with capital seemingly searching for better deals in the stock market today. All three major indices were up more than 1% at the time of writing.
The rather impressive velocity at which crypto prices dropped early Saturday morning appear to have crypto investors on edge.
Investing in cryptocurrencies comes with its own unique set of risks. These are volatile, unregulated digital assets. Market-driven double digit percentage moves to the upside or downside have become normalized in this space.
Of course, when volatility manifests itself to the downside, many investors have the temptation to run for the hills. Most investors are risk averse, meaning cryptocurrencies may simply be too volatile to be included in most portfolios.
However, those taking a longer-term, diversified view toward the crypto market may want to take a look at alt coins such as Harmony, Curve DAO, and Arweave on these significant drops. Buying such tokens when there's blood on the streets has proven to be a winning strategy in the crypto sector thus far.
Crypto investing isn't for everyone, and these tokens certainly are likely to remain volatile for the foreseeable future. However, those looking to stock their stuffings with some discounted tokens may want to take a look at these three cryptocurrencies today.