The cryptocurrency market is slowly starting to recover from a bloodbath with many Altcoins falling more than 50% from their all-time highs. Some analysts, on the other hand, believe that this is a very valuable time to grab cryptocurrencies, with a few indicators signaling.
Joe Parys, a crypto entrepreneur, recently shared 5 bear market-proof altcoins that will outlast this crypto winter and that people should buy from the bottom of the market.
Kadena (KDA)
The first altcoin on the analyst’s list Kadena (KDA). Alright What is Kadena? Kadena is a platform built on the belief that blockchain can revolutionize the way the world interacts and transacts. But to achieve mass adoption, chain technology and the ecosystem that connects it to business had to be redesigned from the ground up.
Created by former JPMorgan blockchain developers Stuart Popejoy and Will Martino, Kadena is one of the blockchains of the future, and that’s because its transactions are free, allowing an increasing number of users to join without having to buy and pay.
Kadena is also highly scalable and very energy efficient, it also has more secure smart contracts and is proven secure.
The developers of the platform reveal that existing blockchain solutions are limited and say they are building a secure and scalable way to implement smart contracts and compete with Ethereum, while also using the proof-of-work consensus model first introduced by Bitcoin. In addition, the software of the protocol, Pact, is designed to allow anyone to create a smart contract.
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The second altcoin that the analyst mentioned is Solana (SOL). Solana uses blockchain technology to provide decentralized finance (DeFi) solutions. permissionless It is a highly functional open source project based on its (permissionless) nature. While ideas and initial work on the project started in 2017, Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland.
Solana is incredibly powerful because the transactions per second are over 2,000 and the total transactions are over 53 billion and the cost per transaction is at 0.00025. This will be very useful for cryptocurrency projects in the future. The analyst says Solana is at the absolute bottom, so it’s time to buy from the bottom and sell at the top.
Avalanche (AVAX)
The next altcoin that analyst thinks could challenge even the bear market Avalanche (AVAX). In terms of time-to-certainty, Avalanche is known as the fastest smart contract platform in the blockchain industry. Avalanche is an incredibly fast, low-cost and eco-friendly platform. Any smart contract-enabled app can get a chance to outshine its competitors just by stepping in on Avalanche.
Alongside these is Trader Joe’s, a decentralized exchange that operates and produces literally millions of dollars’ worth of cryptocurrencies on the platform.
The platform’s farm has all the different pairs for cryptocurrencies and traders are paid APY. While that number has dropped with the rest of the market, the platform has more than half a billion dollars in TVL. According to the analyst, this indicates long-term growth and ensures Avalanche’s presence on this list.
Moonbeam (GLRM)
The last cryptocurrency that the analyst said he bought from the bottom is Moonbeam (GLRM). Moonbeam is a smart contract parachain compatible with the Ethereum Virtual Machine on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redistribute Solidity projects in a Substrate-based environment.
The project even goes beyond the core features of Ethereum by also offering staking, on-chain governance, and cross-chain integrations.
Moonbeam is much more than just an EVM application: it is a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs and more.
The project even goes beyond the core features of Ethereum by also offering staking, on-chain governance, and cross-chain integrations.
Moonbeam is considered to be the future of multi-chain in Polkadot (DOT). Saying that many things can happen on the platform in the next few weeks, and we can just wait and see what happens, the analyst states that such new altcoins are going through bullish / declining movements, but will eventually find support and will watch this altcoin closely when it falls between 2 and 4 dollars.
The analyst says that all of these cryptocurrencies are set to potentially bounce back, even short-term, and survive this bear market.
https://www.youtube.com/watch?v=4GJUnTA6dPM
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.