The bull is back. Today’s 3 big projects are making big moves in their projects. Still, they are down 90% from previous all-time highs. Crypto expert Stu L from the Altcoinbuzz team shares 3 altcoin projects that he sees as crypto gems. These give great bargaining opportunities, says the expert.
First ranked altcoin: Polkadot (DOT)
We see interoperability as a grand narrative that will continue in this new bull market. So we were surprised to see DOT drop 90% from its all-time high. But it is. Its ATH is $54.98 and the current altcoin price is $5. That means it’s down 90% from its all-time high. Crypto investors dislike DOT mostly due to impatience. They’re building a little slower and announcing their work a little less frequently. Also, they have less hype than other networks. But don’t let this mislead you. They actually do a lot.
This includes Polkadot 2.0, which will arrive early next year. Among the major blockchains, DOT will get rid of the para-chain model. Instead, new blockchains will purchase the block space they need. This is a big, big deal. We’ve featured all of these recently because we like what they do. As a result, Polkadot is making tons of moves. And these moves have not yet been reflected in the altcoin price.
Filecoin (FIL) comes in second place
Another surprise entry into the 90-drop club is Filecoin. Filecoin is based on Web3 infrastructure in general and DePIN in particular. And we love this industry. Simply put, this industry provides the tools that all Blockchain projects need. And to all of them. This is the whole “pick and shovel” theory of investing. Filecoin is one of the oldest companies in decentralized file storage. They also work closely with IPFS to help secure NFT metadata and cloud data across the industry. So this is a good way (and lower risk) to stay in the NFT market for the long haul.
Looking at the numbers, FIL reached its ATH of $236 in April 2021 during the last bull market. And it has quite simply fallen off the table since then. It’s down 98% to $4.68. It’s also just $2.04 above last December’s all-time low of $2.64. Looking at the charts, most of the downside risk is outside of this. And look how active their network is. More than 14,000 contributors and 3,050 projects currently using Filecoin on GitHub. And like many others, all this network growth is not reflected in the price.
Last ranked altcoin: Parsiq (PRQ)
PARSIQ is a major Web3 infrastructure project. A leader in the industry. Only a few other projects do what they provide. One of our favourites. But the super competitive 2nd project in this sector is a hundred times cheaper relative to market value. I’m talking about PARSIQ being 100x cheaper than The Graph right now. Again, we love both projects. But knowing this, which one seems like a better value to you? We love infrastructure projects. Part of the Web3 infrastructure that PARSIQ does is indexing and querying Blockchain data. They do this through APIs that allow applications to talk to each other.
The PRQ token’s all-time high price was $2.62 in April 2021 during the last bull market. Currently, the altcoin is down 95% from that high to 0.122 cents. To return to the previous peak, it is necessary to increase almost 30 times. But since then they’ve done a lot more, like all these new use cases for developers building new apps. Also, as I said at the beginning, PARSIQ’s current market cap is $14.4 million. By comparison, The Graph is valued at $1.32 billion. It’s worth just over 100 times more.
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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