Altcoinbuzz analysts evaluated altcoin projects that will be at the forefront of a potential bull run. Among the selected projects are a few Binance-supported names.
4 altcoins to watch in the next bull, according to analysts
First choice Pendle is a project listed on Binance Innovation Zone & Launchpool. Yesterday, it posted an astonishing 1552 percent gain since the beginning of the year. Such a surge was not only linked to Binance. Pendle is making waves in the crypto community due to its innovative proposition.
Pendle is a permissionless yield trading protocol. Here, users can implement various yield management strategies. The platform provides users with the next level of yield control. It offers a variety of options for dating, protection and even prolonging their yield.
For example, imagine you can buy ETH at 14% discount. The price of ETH today is 1953 dollars. But with Pendle, you can buy ETH for $1676. The only catch is that there is a maturity period. So you will get your ETH only after a certain lock period.
Why is Pendle different?
Binance listing isn’t the only thing pushing Pendle’s rally. Embroidering closer to on-chain data reveals some interesting insights. A prominent factor is therefore the whale activity surrounding Pendle. In anticipation of the Binance listing, some PENDLE whales have moved a significant amount of tokens to the trading platform.
According to Lookonchain, the three whales have deposited a total of 5.6 million PENDLE. Just hours after the listing announcement, an astonishing $6.5 million worth of transfers took place. This PENDLE stream from Whales demonstrates their confidence in the protocol’s long-term potential.
Pendle’s ability to tokenize and trade future returns has really increased the interest of prospective investors. As the crypto market continues to evolve, protocols like Pendle are pushing the boundaries of what is possible. Its innovative solutions offer investors new ways to maximize their return on investment.
Mantle (MNTL)
The second ranked Mantle is a high-performance Ethereum Layer-2 network. It has been created with a modular architecture that provides low fees and high security. Mantle can “bundle” transactions using Optimistic Aggregations. It can also process them off-chain. This adds to its speed and scalability. Mantle is also an EVM compatible Blockchain.
So Solidity developers can easily transfer their smart contract skills and existing work to Mantle. By digging deeper into the project, we can uncover some of the reasons why Mantle is a superior Layer-2 project….
- Decentralized delimiters:
- When a Blockchain is powered by a single server, the network is susceptible to outages. Mantle increases the security and reliability of its network by deploying its sequencer.
- Using Multilateral Computing (MPC).
Mantle uses MPC to minimize the risk of trust during data validation. With MPC, nodes can collectively validate block data while trusting that all other node operators are honest. - Tapping into Existing Modular Data
With Eigenlayer, Mantle can tap into unused node resources creating more block space. Thus, Mantle improves the scalability of the network without sacrificing security.
Also, one of Mantle’s key partnerships will be ByBit. ByBit helped Mantle on his development journey. In addition, ByBit has also committed to supporting Mantle’s ecosystem. Which brings us to today’s main topic, the Bybit-Mantle Airdrop Event.
Rocket Pool (RPL)
RPL was one of the altcoins that skyrocketed in the bear market. It reached the ATH level on April 16, 2023. It is currently trading up 440,528% from its all-time low. Like Lido, Rocket Pool is a liquid staking platform. They are smaller than Lido but have around $1 billion staked ETH on their platform.
Also like Lido, they give you the infrastructure to stake your own 32 ETH and run a node there. The liquid staking token you get here is rETH. While not as widely available as stETH from Lido, you can use rETH in many places, including the Yield Protocol, and in many ponds and farms to gain even more attention.
Pendle currently has a great pool of rETH-wETH. This means that the risk of temporary loss is almost zero. It currently pays 41% interest. This is just one of the few good deals that use rETH as collateral.
But as with Lido, whales don’t buy rETH, they buy platform cryptos with RPL. Rocket, which reached the low of the bear market at $13.32 in early November, more than doubled to $41 in June. A ~50% return from here will push Rocket above the ATH level of $59.
Gmx (GMX)
Finally, GMX is one of the largest decentralized perpetual futures markets in crypto. It is also the largest protocol in the ETH Layer 2 Arbitrum. So here you are buying a leading, emerging DeFi protocol. People want decentralized options for futures trading so they don’t get stuck on Binance or old FTX.
GMX is a decentralized exchange for spot and perpetual (called Perps) trading. In other words, for those who want to trade these markets outside of Binance, you now have a DeFi option here. Keeps wages low by working only on Arbitrum and Avalanche.
It would be a good way to use a DeFi platform to gain wide market coverage. Besides trading, they have 2 altcoins in their ecosystem. Both earn a piece of trading fee. GMX takes 30% of the fees and you can stake 13%. On the other hand, if the liquidity coin is GLP, you earn 70% of the fees and you can stake 19-21% of it.
cryptocoin.com In this article, you can take a look at the analysts’ altcoin selections from other areas.
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