Last week, there was a noticeable fluctuation in the cryptocurrency markets. With interest in Bitcoin ETFs waning, the market is currently in the process of consolidation. However, during this period, investors’ attention was turned to the BTC halving event planned to be held in April 2024. This event has the potential to cause major changes in the market.
Cryptocurrency analyst Nicholas Merten has identified three altcoins that could provide huge returns to investors and become profitable during this period. Prominent among these altcoins are: Stacks (STX), RNDR and THOL.
STX, one of the notable projects in the blockchain world, is a platform built on the Bitcoin network. STX makes it possible to develop smart contracts and DApps (Decentralized Applications) while preserving the security and decentralized nature of Bitcoin.
Merten sees huge potential in Stacks due to Bitcoin’s dominance and the need for more benefits beyond just holding. The altcoin has shown strength in both fundamental and price action, with the possibility of significant growth in the long term.
With advances in virtual reality and augmented reality, the RNDR token offers a solution for content creators. This altcoin aims to play a significant role in the content creation industry.
Analyst Merten also believes that with its unique usefulness, Render Network could double or even triple in value in the next few months. Its market value is currently at a reasonable level, making it a promising tool.
Another altcoin on Merten’s radar is THOL. Angel Block focuses on solving fundraising-related issues in the crypto space. It aims to prevent frauds and ineffective use of funds by implementing a transparent and decentralized management system.
While Angel Block is still in its infancy, Merten sees the potential to prevent billions of dollars in losses from failed altcoin projects. The platform has already started raising funds for interesting projects, and its low market cap makes it an attractive but higher-risk investment.
As a result, despite the ups and downs and consolidation phase, the cryptocurrency market continues to host projects with great potential in the future. Investors should examine these potential altcoins highlighted by analysts and act in accordance with their own investment strategies. However, it is important to always be careful and evaluate the risks when investing in cryptocurrencies.
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