Under the radar! This could mean a few different things. It can mean undervalued or unappreciated. It could also mean that he is doing great things but is being ignored. As it stands today, there are 3 altcoins experiencing one or more of these, according to cryptocurrency expert Stu L.
First under-the-radar altcoin: tomiNet (TOMI)
This project is growing very fast. TOMI token even briefly entered the top 100 in market value. Still, he’s currently ranked 175th. A great success for a new project. But we weren’t that surprised. It turns out we’re not the only ones who want a decentralized, community-run internet. We’re not the only ones who want more ownership and control over our personal data. And we’re not the only ones who want to be able to say whatever we want without a central 3rd party censoring what we say and who we say it to. It looks like most of you want this too.
What a surprise! By surprise, I mean not a surprise at all. Of course, crypto natives and investors want to be able to do whatever they want with whomever they want. We often refer to this as censorship-resistant transactions. And this is important. But the freedom to express ourselves simply with our money is just as important, if not more important. And if a bad actor comes into the community, then it is the community that banishes him. Because with Tomi’s decentralized internet, the community manages it. The altcoin project is still under the radar despite growth in market cap and increasing exposure to freedom lovers on crypto Twitter.
In second place is Wanchain (WAN)
The second of these altcoin projects is Wanchain. Definitely under the radar. Most people don’t know that Wanchain created the first decentralized bridge in the industry. And in a part of the industry where hacks and thefts occur frequently, nothing like this has ever happened to Wanchain.
Maybe that’s why people don’t hear them. Because most of what we hear about bridges is bad news. And Wanchain has no bad news. Actually, he only has good news. They recently made cross-chaining much faster and cheaper. They all now have XFlows updated with Wanchain. XFlows is a bridged cross-chain flow. But what makes this offering special is that there are no wrapped or synthetic tokens.
On the other side of the bridge you get local Bitcoin or USDT. Think of it like Western Union. If you use them for an old-fashioned Web 2-style money transfer, they always have to have dollars or Euros on the other side. These are the assets people want. That’s why they have to have it ready. It all depends on what people want. Realizing these XFlows requires good technology, good cash management and good governance. And the altcoin project’s native token, WAN, has all three. Still, it has a market cap of $35.2 million. Only 488th in market cap. For the bridge leader. This is definitely under the radar.
The last under-the-radar altcoin: dydx (DYDX)
Fee income is where you really see where the growth is. People talk a lot, but they are careful where they spend their money. This shows you even more. DyDx, the last of the altcoin projects, earned $ 5.2 million in fees in the last 30 days. This positions it as the highest perp DEX in the industry. Perps are places where you can trade perpetual contracts in a DEX environment.
Among all DEXs, only Uniswap, AAVE and Convex gained more last month. In fact, dydx has gained more than Compound, Curve, GMX, and many other big-name DEXs in crypto. In late June, the altcoin took the gamble of switching from ETH-based implementation to the Layer 1 Blockchain on Cosmos. Some think this is at least a gamble.
For interoperability and fast, cheap transactions, Cosmos is hard to beat. Even though there are some good Layer 2 solutions with Ethereum. Currently, the DUDX token sits at ~100 in market cap at $345 million. This puts it at a lower market cap than Lido, Polygon, Solana, Arbitrum, AAVE and Injective. All of these generate less fee income than dydx. Despite its reputation as a high flyer among DEXs, the truth is that dydx is also under the radar. At this price it’s definitely worth a look.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com As, we recommend that you do detailed research before investing in such projects. We also point out that the risk is very high in a highly volatile and new market like the crypto market.
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