Cryptocurrencies are problem-solving tools rather than volatile speculative assets that can reward investors. In fact, the biggest rewards come from finding value in a cryptocurrency’s problem-solving and demand-creating capacity. Some cryptocurrencies have “mind-blowing” fundamentals compared to their market caps. Therefore, identifying these asymmetries creates good buying opportunities for capital multiplication. Crypto expert Vinicius Barbosa shares 3 altcoins with this potential.
First ranked altcoin: Solana (SOL)
First, Solana (SOL)’s current valuation makes no sense compared to its leading rival, Ethereum. Solana outperforms the decentralized finance (DeFi) and Web3 leader across different demand metrics. For example, Bitcoin and Solana distributed 75% of all NFTs in 2023. Additionally, SOL climbed the total value locked (TVL) rankings in DeFi, accumulating more than $1 billion in December. Recently, Solana dethroned Ethereum with the highest daily DEX volume. Thus, decentralized commerce dominated. Meanwhile, SOL was trading at $97.24 at the time of writing. According to CoinMarketCap, Solana’s market cap is $42.39 billion.
Chainlink (LINK) is in second place
Secondly, there is Chainlink (LINK), which has a unique proposition of connecting real-world data to the digital realm of cryptocurrencies. The leading Oracle platform is likely to find great appeal in the market as traditional financial giants join Web3. BlackRock, for example, sees value in tokenizing real-world assets that may require Oracle solutions like Chainlink’s. Increased adoption would increase demand for LINK. This would make it an ideal cryptocurrency for February and 2024. Notably, LINK is an asset with a market cap of $9.53 billion. The altcoin was trading at $16.79 at the time of writing.
Last ranked altcoin: Pendle (PENDLE)
Finally, there is Pendle (PENDLE), a relatively new project. Since it’s new, it’s a riskier choice. Pendle is a protocol that enables the tokenization and trading of future yield. With the creation of a new AMM that supports expiring assets, Pendle gives users greater control over future return by providing optionality and redemption opportunities. The altcoin ranks 96th with a capital of $609.40 million. Additionally, the token is changing hands at $2.56 at the time of writing. In particular, cryptocurrency whales like Arthur Hayes are enthusiastically betting on this use case. This causes the price of the token to skyrocket recently.
However, these cryptocurrencies, although they are effortless projects, may expose investors to high risks in the short or medium term. All three have massive supply inflation. This occasionally leads to impressive sell-offs by early investors. It is important to invest carefully and not fall for the “FOMO” rhetoric of these players looking for exit liquidity.
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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