Popular analyst and cryptocurrency expert Mystery of Crypto has selected 10 altcoins with strong potential amidst ongoing market uncertainty.
Cryptocurrency markets are actively recovering from Monday’s shock, and some believe this is a good time to buy promising assets.
Altcoin Selection for Optimal Performance in Market Turmoil
Amid market fears, the crypto industry has seen over $1 billion liquidations, the biggest single-day drop since the FTX scenario in November 2022. For stability and growth prospects, the analyst has identified 10 altcoins that are safer bets in uncertain market conditions.
Toncoin (TON)
Toncoin is a first choice given the number of decentralized applications (DApps) built on top of the network. These DApps span gaming, social, DeFi, and more, and have seen significant user growth over the past six months.
According to DefiLlama statistics, the TON blockchain records more than 4 million transactions per day. The latest data shows that the total locked value (TVL) has exceeded $560 million, a 20% increase since Monday, adding credibility to the analyst’s pick.
Read more: 6 Best Toncoin (TON) Wallets in 2024
Solana (SUN)
Solana ranks second on the list due to its strong performance in 2024. Analysts highlighted its key features of high scalability and low transaction fees, making it an attractive choice. Strong interest from developers and institutions also supports SOL’s position as a top altcoin.
Solana has recently outperformed Ethereum in weekly returns. More specifically, it remains the most preferred blockchain for Mimecoin traders, which positions SOL for performance. There is also the prospect of a Solana ETF, which continues to provide tailwinds for SOL.
Arbitrage (ARB)
Arbitrum is a key player in Ethereum’s Layer-2 (L2) scaling solutions, boasting over 408,000 daily active users. According to data, its TVL is over $2.5 billion, which is higher than Polygon (MATIC), Optimism (OP), and other L2s.
Since the launch of Kwenta and the expansion of Orbit, Arbitrum has been praised for its top-notch trading interface and the best persistent user experience in DeFi. With the support of Pantera Capital, ARB is positioned to perform well, according to Mystery of Crypto.
ONDO (On Temperature Finance)
A number of analysts, including AltcoinDaily, have reviewed Temperature Finance, with both analysts noting Temperature Finance’s ability to convert RWA into digital tokens.
The network’s strong partnerships with BlackRock and Coinbase Ventures also create strong fundamentals for the project. In addition, Pyth Network has launched a USDY/USD price feed in collaboration with Ondo Finance, adding to the list of project fundamentals.
Learn more: What is Tokenization in Blockchain?
Nearby Protocol (NEAR)
According to analysts, Near Protocol is known for its resilience and innovation. The developer-friendly platform continues to attract more projects and has an $800 million ecosystem fund to seed and support new projects.
Among L1 scaling solutions, NEAR has the second-highest number of daily active users after Solana, allowing it to perform well even in uncertain market conditions.
Mantra (OM)
Mantra meets analysts’ criteria given its drive to enhance Ethereum functionality and promote accessible financial services. It is well positioned to generate returns as interest in tokenizing real-world assets (RWAs) grows.
The project has started Season 2 of the 50,000,000 OM GenDrop, and the dYdX ecosystem has brought new exciting opportunities by adding OM to the chain. In addition, with over 50 million OM tokens staked, the potential for further upside for OM tokens is increasing as the supply decreases.
EtherFi (ETHFI)
EtherFi is a leading re-staking platform operating on Ethereum. The project recently launched its Season 2 claim checker, distributing over 53 million ETHFI tokens worth approximately $100 million.
Participating in a rewards model that promises more exciting opportunities for users could increase interest in ETHFI tokens. In addition, the project also has Cash, a mobile wallet with Visa credit card integration.
Read more: Ethereum Re-Staking: What Is It and How Does It Work?
Polygon (MATIC)
Polygon Blockchain collaborates with Ronin Network by Axie Infnity via the Polygon Chain Development Kit. Given its nature as a scaling solution for Ethereum, there are over 17,800 DApps actively running on Polygon. It is popular with DeFi and NFT projects, and 35 million MATIC tokens have been allocated to ecosystem projects.
Render (RNDR)
Render is one of the AI cryptocurrencies with decentralized GPU network services, essential for games and movies. The recent social dominance, active addresses, and whale transaction indicators have reached 6-month highs amidst AI hype, making RNDR a potential giant.
ARWEB (AR)
Arweave has proven its strength in the blockchain industry. The network provides permanent data storage, and users can utilize it to store data for a one-time payment. Over a petabyte of data is stored on the Arweave network, connecting individuals who need storage space with those who have hard drive space.
The project announced a 100% fair launch of its new tokens without any pre-mine or pre-sale. This, along with its recent partnership with InQubeta, a blockchain company that is improving the technology, makes AR a coin to watch.
Mystery of Crypto also highlights Chainlink (LINK) as a potential big name, mentioning the launch of a digital asset sandbox for tokenization testing. Partnerships with tech giants like Google and Oracle make LINK a good choice.
Nevertheless, traders should not rely solely on analysts’ forecasts. It is always advisable to do your own research.
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