Several analysts have expressed optimism for various altcoin projects. Ivan Zhelev mentioned three altcoins. InvestorPlace analyst and former Goldman Sachs-Citigroup employee Gabriel Osorio also said he is hopeful for three cryptocurrencies. All in all, we have 6 altcoins to watch out for. Here are the details…
The first altcoin on the analyst list was IMX
First of all, Immutable X (IMX) is a Blockchain technology company focused on shaping the future of Web3 Gaming. The company has quickly become a major player in the blockchain gaming industry, fostering an ever-expanding ecosystem of more than 20 games, including famous titles such as Gods Unchained, Ember Sword, and Guild of Guardians. With its current price of $0.65, the altcoin presents a medium to high risk investment opportunity. Immutable X also formed strategic partnerships with Polygon and zkEVM to create the Immutable ZK EVM. Despite the risks involved, IMX remains the best option for cryptocurrency investors looking to take positions before the next bull market. Widely available on major cryptocurrency exchanges, IMX has healthy daily trading volumes and an attractive usage area.
The second altcoin on the list is ARB
In 2023, the cryptocurrency community was buzzing with excitement surrounding the launch of the Arbitrum token (ARB), which was eagerly awaited by crypto enthusiasts. The token launch did not disappoint as it came with a massive airdrop that offered participants the opportunity to secure up to 12,000 tokens worth over $10,000. Since its launch date, ARB coin has shown extensive growth in the crypto market and became a top 100 crypto project soon after its launch. According to some reports, Ethereum whales invested billions of dollars in ARB tokens after the launch, pushing the price higher. Arbitrum’s appeal lies in its position as an L2 Ethereum Virtual Machine (EVM) chain.
Significant support from major cryptocurrency exchanges has further accelerated Arbitrum’s rise, making it the second most widely used blockchain network in the crypto space. However, after its initial success, a discordant note emerged when the developers expressed their desire to use a significant portion of the project’s funds, and this proposal was met with opposition from the community. Unfortunately, the developers have chosen to proceed with their plans, ignoring the community’s vote and characterizing this as merely a ‘survey to gauge community sentiment’. This decision led to a split, causing Arbitrum, once the most used L2 blockchain network, and its associated token to fall out of favor within the community. Still, analyst Zhelev expects an increase in this coin.
Turks’ favorite coin XRP is also on the list
Ranked fifth by market cap and currently priced at $0.54, XRP has been one of the leading players in the cryptocurrency market for over a decade. Created by Ripple Labs, XRP aims to revolutionize global money transfers and enable faster and more cost-effective international transactions by providing an efficient alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system.
TRON stands out in the altcoin space
If we look at the coins recommended by Osorio, TRON comes first. Tron is described as the native currency of the TRON network and focuses on using Blockchain technology to facilitate easy and affordable sharing of online content. Despite reaching record highs during the 2017-2018 cryptocurrency craze, TRX’s failure to return to those levels has created some uncertainty. It is currently priced at around $0.092230 and is ranked #10 on CoinMarketCap.
Chainlink is gaining momentum
Chainlink is portrayed as an important intermediary in the cryptocurrency world that bridges the gap between traditional data sources and smart contracts. It has partnered with Vodafone to revolutionize global commerce using Blockchain, especially in the context of IoT devices. The magic ingredient of this partnership is Chainlink’s Chainlink Interoperability Protocol (CCIP). It is like a universal translator of documents and financial transactions. DAB, meanwhile, ensures everything is secure and running smoothly, especially for Internet of Things (IoT) devices. The result, according to analysts, is exciting.
The last altcoin on the list was AVAX
Avalanche is positioned as a Blockchain platform in direct competition with Ethereum, known for its lightning-fast transaction speed and unique architecture consisting of three chains. It is famous for its ability to process up to 6,500 transactions per second while maintaining scalability. Avalanche is actively developing an ecosystem of decentralized applications and decentralized finance, making it an intriguing cryptocurrency to watch.
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