In times of uncertainty, something never goes out of fashion. This is the infrastructure. The crypto market is in an uncertain place. But one thing is for sure. That is, projects built during bear markets achieve great success in bull markets. Crypto expert Stu L shares 3 altcoins that could explode in the 2024 bull run and explains why.
The top ranked altcoin: PARSIQ (PRQ)
The first major infrastructure project is PARSIQ. The important thing here is that they make blockchain index and data queries. This allows you to find the Blockchain information you need. The undisputed leader in this field is The Graph. And we love them. As you know, we have them in our main portfolio. It is also an altcoin project worth $825 million by market cap. By contrast, PARSIQ is growing rapidly and does many of the same things The Graph does. But its market value is only $10 million.
PARSIQ’s Tsunami API is taking a giant leap forward by becoming the pioneer blockchain data indexer on Alibaba Cloud’s marketplace!
— PARSIQ | #BUIDL your Web3 Unicorn (🌊,🦄) (@parsiq_net) September 25, 2023
This tilts the risk/reward in PARSIQ’s favor. They are a leading protocol in indexing and queries and are 80 times smaller than The Graph. This alone reduces the risk of this altcoin project. There are also some exciting new developments for PARSIQ. PARSIQ’s new Reactive Network and ReactEVM are coming out. This brings new logic and possibilities to smart contracts. This is a big step forward. The contract will now be able to react to on-chain events. Exchanges and trade will develop at a rapid pace. And many other uses of smart contracts will benefit from this as well.
Openfabric AI (OFN) comes in second place
Our new favorite in the combination of crypto and artificial intelligence is Openfabric. The reason we love Openfabric so much is that it’s a combination of 3 altcoin projects we already love:
- Fetch.ai: One of, if not the largest AI marketplace in crypto.
- Singularity: Also a marketplace that allows you to create and edit your own AI agents. It is also a rapidly growing ecosystem
- Akash: Sale and lease of GPU computer chips and resources for artificial intelligence. It provides the processing power needed by artificial intelligence applications such as image creation.
— Openfabric AI (@openfabricai) October 4, 2023
They are a marketplace. In fact, they want to be the Apple store for AI applications in crypto. They help you build and launch your own AI application with infrastructure. Or the team creates a custom app for you. Here you see one of the trading bots running in the background. And finally, as part of this infrastructure, you can use computing and processing powers to edit and test your application before launching it.
Last ranked altcoin: Chainlink (LINK)
When you open Crypto X, suddenly Chainlink and CCIP protocol appear everywhere. The only question is why did it take so long? Chainlink is the undisputed leader in providing oracle for smart contracts.
1/ As the industry standard for secure cross-chain interoperability, #CCIP is already unlocking a new wave of Web3 innovation.
Explore CCIP’s growing momentum🧵👇 pic.twitter.com/zZwWTggG9R
— Chainlink (@chainlink) October 2, 2023
Unlike PARSIQ’s new React platform, Chainlink addresses one of the limitations of smart contracts. In this case, off-chain data becomes on-chain data. So the altcoin project brings that data, whether it’s pricing information on stocks and securities or other cryptos for traders, or supply chain-related information. It doesn’t matter. Chainlink brings it, smart contracts use it. And these contracts need this connection that Chainlink brings.
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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