May is a good month for crypto in general. Even though the crypto market is trending sideways, there are some good altcoin projects to keep an eye on during May. So which coins should we look at in May? Crypto expert Camille Lemmens from the Altcoinbuzz team shares 4 altcoins that should be on the radar in May.
First ranked altcoin: PARSIQ (PRQ)
PARSIQ is all about connecting on-chain and off-chain applications in real time. The team has been doing this for a long time. However, there has been a big change recently. As you know, Blockchains cannot talk to each other. Smart contracts only run on their own networks. It’s not like that anymore. Launched PARSIQ Reactive Network. Smart contracts can now read contracts on other Blockchains. As a result, it is now possible for smart contracts on EVM Blockchains to talk to each other.
This has huge implications. For example, it is now possible for smart contracts to trigger actions on different Blockchains. For example, you can trigger an action on the BSC Blockchain during a game on Polygon. So it’s 100% cross-chain and interoperable. But this isn’t just about gaming, it works great in trading as well. With Reactive Network, you no longer trust oracles. Everything remains on-chain. All off-chain components such as CEX or price feed become obsolete. This is truly revolutionary. PARSIQ is a much cheaper but very real competitor to The Graph.
In second place is Goldfinch (GFI)
With Goldfinch we enter the world of real world beings. Goldfinch’s goal is to achieve financial inclusion for everyone. Therefore, Goldfinch provides credit limits. You can provide your USDC and borrowers can borrow it. However, here’s the interesting part. These debtors are companies from all over the world. Start-ups in Africa or institutions in America’s major cities. The difference is that they all have access to the same capital markets.
Goldfinch brings the capital market to the user. One important difference is that you don’t need collateral. Instead, they check their creditworthiness through a collective assessment of other participants. BlackRock recently launched a multi-billion RWA fund. As a result, RWA projects have seen price increases of up to 20% on their tokens. This includes Goldfinch. The current altcoin price is $3.45. Market value is $254.8 million. Of the 114 million GFI tokens, 73 million are in circulation. Over the past year, GFI has increased by 545%. We told you about Goldfinch 1 year ago. At that time it had a price of $0.63. So, RWA is a good start to make it big in the upcoming leg of the bull run.
We continue the list with Axelar (AXL) province
First, at Axelar, it’s all about cross-chain. The latter is part of the Axelar Cosmos Hub. It offers Axelar Virtual Machine and Cross-Chain Token Layer. So, there’s a lot about bridging, but there’s more. Axelar VM allows new blockchains to be connected without permission. This makes it more than just a messaging service. It is a fully programmable cross-chain layer. Cross-Chain Token Service allows developers to launch tokens across multiple networks. Also, no coding is required. This is a decentralized and open source feature that allows for interoperability.
Axelar is programmable, scalable and secure. Currently, Axelar already serves 15 Blockchains. Plus, there’s more on the way. The current price of AXL token is $1.24. Altcoin market cap is 795 million. There is no limit to the maximum supply and the total supply is 1.14 billion tokens. 646 million of these are currently in circulation. AXL increased by 118% compared to last year.
Last ranked altcoin: Helium Network (HNT)
With Helium, we go deeper into IoT (Internet of Things) and DePIN. Now, DePIN is all about providing infrastructure. This is exactly what Helium provides. It offers a decentralized wireless infrastructure. Mining on Helium started in July 2019. However, in April 2023, Helium moved to Solana. Currently, it is possible to find Helium partners all over the world.
For example, this map shows hotspots. It uses nodes to connect its network to wireless devices. It is possible to mine Helium tokens by creating a coverage area using compatible hotspots. There are also Date Credits. These are utility tokens pegged to USD. They are derived from HNT and you can use them to pay gas fees. However, it is possible to generate DC only by burning HNT. So, there’s a nice mint and lighting mechanism in place. The current altcoin price is $5.41. Its market value is $886 million. Of the maximum and total supply of 223 million, 164 million are in circulation. Last year the altcoin price increased by 222%.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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