Cryptocurrency investors are after high-potential altcoin projects towards the new year. Analysts recommend that the selections be from DEX and various Tier 1s.
Crypto analyst Vremaroiu Alin shared 5 altcoin projects he bought in December
Cronos (CRO)
In his latest Medium post, Vremaroiu Alin highlighted Cronos among the exchange tokens. Cronos is the native cryptocurrency of cryptocurrency exchange Crypto.com. It uses a proof-of-authority consensus to guarantee fast, scalable and inexpensive transactions. Like Ripple-XRP, Cronos has many applications such as lowering the cost of transacting on the Crypto.com platform.
Additionally, token holders can borrow from Crypto.com at lower annual percentage rates (APY). So they can earn more APY on their crypto interest account. However, the routine token burning of Crypto.com is the primary reason why CRO has a deflationary effect. In the past, billions of Cronos were destroyed. With all these efforts, the CRO is currently ranked 29th by market cap. As of December 11, it is trading around 0.063.
Ripple (XRP)
Ripple is another example of the market’s deflationary cryptocurrencies. The blockchain company focuses specifically on the banking industry. Using the latest payment network technology, it primarily serves financial institutions such as banks. cryptocoin.comAs you follow, it recently announced its collaboration with JPMorgan. Currently trading below $1 indicates there is room for a price increase.
In the long run, XRP hopes to replace the SWIFT system. Its rivals such as Bitcoin and Litecoin are quite slow compared to itself. Ripple, on the other hand, can process up to 1,500 transactions per second in any currency. The tokens used for transaction fees are then mechanically destroyed by the network.
Shiba Inu (SHIB)
Inspired by Dogecoin, Shiba Inu debuted in 2020 as a cryptocurrency based on internet memes. The project’s social media instantly gained a large following. As a result, it has had the fastest growth of any cryptocurrency. It has emerged as both a leading cryptocurrency by market cap and a leading deflationary cryptocurrency to invest before 2023. The Shiba Inu became popular due to speculation and fear of missing out. But the team behind the project hopes to get away with it.
Shiba Inu’s tokens are regularly burned as part of cryptocurrency’s deflationary regulations. The project uses 5% of all NFT sales to repurchase tokens on the open market as part of their write program. With a current price of less than a dollar, SHIB is a great opportunity for a significant investment, according to the analyst.
Looping (LRC)
Loopring (LRC) has been developed for centralized transactions without the need for a third party. Its prominent feature is that it is a highly efficient Blockchain. It also has smart contracts that prioritize user security while also providing a fluid trading experience. It continues to gain traction as centralized exchanges come under greater scrutiny.
Loopring’s crypto, LRC, is used on the platform to pay fees. It is designed as a secure and highly scalable payment mechanism. With this technology, users can transact across multiple Blockchains without having to switch between them. The protocol’s ability to scale to handle massive trading volumes and low costs and other features such as atomic swaps is its biggest trump card on exchanges. Loopring is a great option for participants after FTX due to its high scalability, minimal fees, and strict security measures.
NEAR Protocol (NEAR)
NEAR Protocol was developed as a decentralized Proof-of-Stake Blockchain. It’s a huge startup that hasn’t gotten much attention yet, but has the potential to match Solana’s pace of growth last year. Blockchain has been made more accessible on the cloud computing platform. Because account names are now written in plain English. Second, thanks to its proprietary fragmentation technique, Near Protocol can handle up to 100,000 transactions per second. There is also almost no cost and the processing time for transactions is practically fast.
Crypto venture capital firms, on the other hand, have significant investments and dominate the direction of the project. Therefore, investors should be aware that while Near Protocol’s technology has the potential to deliver significant long-term returns, doing so will require some sacrifice of security in the short term. As a result, with all these features, it is the most volatile investment option on the list of cryptocurrencies to buy in December, according to the analyst.
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