The cryptocurrency market continues to offer a variety of investment opportunities, with the recent rally led by Bitcoin (BTC). Despite the perception that crypto assets like Bitcoin are often out of reach for many investors due to their high unit prices, there are still plenty of affordable options available on the market. With the new week on the horizon, investors can find potential opportunities in cryptocurrencies valued below $10. That’s why analyst Justinas Baltrusaitis has compiled a list of three promising altcoin projects worth considering investing in as we head into next week. Here are the details…
First altcoin on the list: Near Protocol (NEAR)
The token of Near Protocol (NEAR), a platform that provides a scalable and developer-friendly environment for decentralized applications (DAPPS), emerged as one of the standout crypto projects last week. Notably, it displayed double-digit gains on the weekly chart. Additionally, onchain metrics fuel optimism, indicating that these gains may be sustainable in the coming days. For example, the number of active daily addresses on the network experienced a 975% increase, from 93,000 to millions between December 1 and December 19. At the same time, the network’s total daily transactions have increased by 170% since December 3.
At the same time, Santiment’s onchain data shows a potential surge fueled by fear of missing out (FOMO) as altcoin projects gain traction in discussions on social platforms. Santiment emphasizes the extension of Near’s buzz into the main conversations. With increasing buying pressure, NEAR has set a target of reaching $4 by the end of 2023. Examining recent price trends remains an attractive option for those looking for breakout opportunities in crypto.
In second place is Internet Computer (ICP)
Internet Computer (ICP) has recently emerged as a standout performer in the overall crypto market. Although ICP has fallen in the short term, the asset still commands almost 100% monthly gains. While the exact catalyst for ICP’s rise is unknown, the network’s strategic partnerships are expected to contribute to its valuation. One notable collaboration involves the altcoin, Gaudi, and Moon Labs, which focuses primarily on recreating Gaudi’s architecture and arts in the Metaverse at ICP.
Simultaneously, the Internet Computer Foundation (ICP) introduced the first European subnet providing GDPR-compliant infrastructure for decentralized applications (DAPPS). As a decentralized Cloud 3.0 protocol, ICP enables developers to build services and business systems directly on a scalable Blockchain, enabling insecure interactions with the external environment. Particularly, with recent gains, there is speculation about the next stop for ICP. Notably, altcoin analyst World of Charts predicts that ICP’s next move could drive it towards the $17.5 resistance level.
Optimism has passed major milestones
In recent weeks, Optimism (OP) has experienced a significant increase in onchain metrics, reaching critical milestones. The increase in value coincided with a period when Optimism witnessed an increase in the number of owner addresses on the exchange. As of December 21, Optimism had over 5.9 million addresses, marking a significant increase of 391% from the 1.2 million recorded in January. It is worth noting that altcoin OP has further growth potential, given the continued fulfillment of its primary purpose of serving as a medium for processing transaction fees. OP Mainnet is distinguished by its speed, stability and scalability, offering a layer-2 blockchain solution developed by Ethereum (ETH) developers specifically for the Ethereum community.
OP has a positive outlook for the coming days, making him a valuable asset to consider. Altcoin Lisk’s (LSK) collaboration with Optimism further enhances this positive outlook. The partnership will see Lisk transition from layer-1 to Ethereum layer-2 solution. In this transition, Lisk aims to transfer LSK tokens to the Ethereum platform. Lisk is a blockchain application platform with an SDK that provides tools to developers and simplifies the blockchain creation process.
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