As of 2022, over 10,000 altcoin projects are taking the stage. But even some of those that are currently successful will be wiped out from the market. Behind this, there are some events that have not yet surfaced. In the new report, Investorplace analysts list Solana, Dogecoin, Monero, Aptos and 20 altcoins that threaten such a crash.
25 altcoins to sell before they crash: Solana, Audius, Chiliz…
Ethereum Classic (ETC)
Ethereum Classic is one of the last PoW Blockchains to represent what’s left of Ethereum. Investorplace analysts note that ETC is still a cumbersome and dapp-free network. Also, while the merge took Etehreum to a different dimension recently, ETC has been partially quiet. For this reason, analysts recommend cutting ETC positions in wallets before the close disappears completely.
Shiba Inu (SHIB)
The Shiba Inu has long managed to stay in the top 20 thanks to the attention of individual sedatives. However, he still has not been able to launch the new projects he promised. Even if Shibarium is released soon, it will likely be overshadowed by L2s like Polygon (MATIC), according to analysts.
Monero XMR)
Monero and Zcash are the biggest projects in terms of privacy-focused use case. But now, Know Your Customer (KYC) rules are of particular interest to governing bodies. Also, the European Union (EU) made headlines earlier this summer when it developed KYC rules for crypto companies. As a result, their privacy-focused crypto will be heavily blocked by this legislature. According to analysts, projects such as Monero and Zcash that violate these users could become targets.
Terra Classic (LUNC)
The collapse of Terra Classic has put most crypto winter investors in a situation they now find themselves in. At the beginning of the year Terra was a legally sound project. It was a layer-1 network with its own daps ecosystem for interaction. But we’ve seen the stablecoin’s algorithmic model fail in hard sells. Currently the Terra team is doing nothing to get the project back on track.
Terra (Luna)
The new version Terra (LUNA), formerly LUNC, promised to be a place for developers to continue building on layer-1. When it was first pitched, community members reacted aggressively to the idea. In a preliminary ballot, 92% of respondents voted against. Still, when the real vote came and went, 65% of voters approved the hard fork. But LUNA is still drowning in Do Kwon notoriety. Analysts advise to stay away from portholes as it is one of the reasons for the last crypto winter.
Audius (AUDIO)
Audius is a great example of adding a Blockchain solution to a problem that doesn’t really exist. But its technology doesn’t make a particularly strong selling point. First, it claims its decentralized nature helps artists pay more for their work. Still, there are already platforms like Tidal that do this in the highest possible audio quality. Audius also claims to bring fans and musicians closer than ever before. But services like Bandcamp have been doing this for years. That’s why there are so many projects that Audius has to go through so they don’t wipe it off the market.
Dogecoin (DOGE)
Dogecoin is one of the cryptos to sell right now regardless of the hype. It owes much of its success to Bitcoin. However, Bitcoin already meets all the features that DOGE provides. Other than the humorous aspect, there are few areas where it is better than Bitcoin.
Bitcoin Cash (BCH) and Bitcoin SV (BSV)
The two are examples of Bitcoin’s unworthy hard forks. While there are use cases, they are not projects that solve anything new or that seem to be widely adopted. This puts them on the list of cryptos to sell.
Left (LEFT)
Despite the hundreds of projects it hosts, Solana has yet to surpass Ethereum or BNB Chain in any of them. In addition, the Solana network regularly crashes at intervals of about 3 months. With the Ethereum merge, we see that the Solana network is increasingly in the background. According to analysts, Ethereum will likely manage 90% of the world’s transactions and there will be very few projects to fight it.
Apecoin (APE)
APE is supported by the popular NFT collection Bored Ape Yacht Club (BAYC). This means that if BAYC collapses, Apecoin will also be wiped out of the market. APE has already had a pretty strong rally when it first launched in March 2022. According to analysts, we will not be able to see this acceleration again.
Chiliz (CHZ)
Chiliz is a premier altcoin project for fan tokens. But despite all the money flowing into the project, a pragmatic mind would not see crypto go beyond its previous successes. Some argue that the token will rise as sports fans are statistically more likely to buy crypto. However, the indices for other half-products should not be overlooked.
Sandbox
Contrary to popular belief, the metaverse does not need blockchains. The reason projects like Decentraland and Sandbox are on the rise is because they can offer unique items and terrains as NFTs with their Blockchain. Still, NFTs and Blockchain technology do not make metaverse spaces popular, as Meta has proven with Horizon Worlds experience. These metaverse projects will have to compete with Microsoft and other tech giants in the near future. Since this is a very difficult track, the market needs projects that are superior to Sandbox and Decentraland.
Axie Infinity (AXS)
Axie Infinity is one of the cryptocurrencies that has lost the most after last year’s bull. Moreover, AXS tokens worth millions of dollars will be unlocked on October 25. If you still have AXS in your wallet, cryptocoin.comDon’t miss this article.
Polkadot (DOT) and Kusama (KSM)
Polkadot and its sister project Kusama are some of the more unique projects in the crypto space. These projects are not just like any layer-1 network. Rather, the two are 100 “parachains” coexisting with each other. However, it has some disadvantages in the long run. First, each project can only hold 100 dapps at any given time. This is not well suited to building a network that serves specific needs. Combine this with the fact that both projects rely heavily on bridges. As a result, there are many reasons to be skeptical of the future of the duo, according to analysts.
Internet Computer (ICP)
Internet Computer has made some big claims about what’s to come in the past. At the time the project was released in 2021, ICP was threatening Ethereum and every other layer-1 with bold claims about its scalability. But the project, which was launched in May 2021 for over $400, has proven unsustainable from this leap. By July, just two months later, prices were under $50. Now, it’s under $5.
Stellar (XLM)
Stellar is a solid project with great promise in the world of cross-border payments. Stellar has positive aspects over Ripple. However, Ripple is already a much larger project. Moreover, it is envisaged that further centralization of Ripple will help it take on a role serving banking institutions. Also, Ripple has already made deals with many national banks. As a result, there is a huge pool for XRP instead of XLM in the world.
aptos (APT)
Aptos is the newest project on this list. It had a lot of supporters before its release. Crypto was founded by two Meta Platforms graduates who have worked on Meta’s crypto initiatives in the past years. Aptos has also received investment from FTX, a company that doesn’t waste money. It also promises to send 130,000 transactions per second (tps). However, upon launch, the network is already seeing some steep hurdles. First, they split nearly half of the total APT supply among themselves and among private investors. The network also only gives TPS in single digits. The founders claim that this output will increase as dapp developers join the network. However, there is also uncertainty that the Move language will manage to attract them in the first place.
Tether (USDT)
Tether is by far the largest stablecoin with a market cap of over $68 billion. However, the project has already seen a lot of controversy. First, he lied to investors about his reserves. Now, USDT transactions are completely banned in New York. These activities also led to scrutiny by Congress, causing multiple bills to attempt to curb stablecoins.
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