According to crypto analyst Sut L, the crypto markets are brutal, but a great way to invest right now is to bet on micro-capitalized altcoin projects that will explode in the next bull run. The analyst shares projects he thinks have 100x potential and ‘hidden gems’.
First altcoin project: Coti (COTI)
Low-capital projects with market caps of less than $100 million are some of the hardest money to understand. It’s hard to tell where the good value lies. Most of these are bets on potential. So if we’re looking at potential, then we need to turn the odds in our favour. Our first cryptocurrency today, COTI, does exactly that. The biggest hyperbole project in Cardano with the DJED stablecoin.
COTI has a small market cap. From 10 cents a piece to over $100 million in market cap, this may be temporary.
Why I Love COTI
Until the market decides whether DJED is successful or not, the fate of COTI will depend on Cardano. If you are rising on Cardano, then you will also be rising on stablecoin development. You know every good ecosystem needs one. Also, altcoin projects are trying to move away from USDC and USDT for local, more decentralized solutions. What Cardano does helps COTI, and what COTI does helps Cardano. A relationship like this is a huge risk mitigator for a project of this size. Now, if that relationship deteriorates, there’s no doubt that COTI will suffer. But for now, that’s a plus.
Second, I like that COTI is an application Blockchain. Application Blockchains are blockchains that were created with a specific application or group of applications in mind. This means that all of the trade-offs they have to make when building is to benefit from building a particular type of application. And COTI is Blockchain, an app that’s all about payments.
Payments are one of the few already successful use cases for crypto. We don’t expect or expect it to work 3 years from now. Payments, especially remittances and cross-border transfers, are already a success story for crypto. It just has to grow from here. COTI is well positioned to capitalize on this growth.
Second altcoin project: Unmarshal (MARSH)
The 2nd altcoin today is Unmarshal. A Blockchain infrastructure project. Unmarshal uses APIs to query Blockchain data, specifically NFT data. Its tools also allow you to create your own APIs for your project if the existing ones don’t suit your needs. And to be more flexible, if a project has a special need, they can pay Unmarshal to build these tools for them.
It currently supports 20 different chains including Ethereum, Polygon, and Algorand. Unmarshal understands that more advanced applications like DeFi, NFT games, and metaverses should be able to query data easily, just as other Blockchains do. This includes queries and multi-application functions moving between blockchains and bridges. Whale watchers will love Token Balance and Token Transaction APIs from Unmarshal.
Why do I love Unmarshal?
Now when I say low capital, it’s really micro. The MARSH coin is by far the smallest on this list today. It has a current market cap of $9.2 million and a fully diluted market cap of just $24.5 million. Compare that with Chart, the leader of this category. The chart in our main portfolio ranks 41st with a market capitalization of $1.6 billion. So there’s a lot of room to run for MARSH.
Could Unmarshal be as big as The Graph? Maybe? Maybe even bigger. cryptocoin.comAs you know from Graph, it is based on the popular GraphQL query language. And that makes sense because it’s one of the industry standards. But Unmarshal also uses GraphQL. It also uses APIs, Websockets and other query methods to provide more options.
The last reason I like Unmarshal is because I like Blockchain infrastructure companies. We need these companies to make the Web3 dream come true. And we need multiple winners in many categories, including querying Blockchain data. There is room for both the Graph and the Unmarshal.
Latest altcoin: Trader Joe (JOE)
The 3rd and last cryptocurrency today is Trader Joe’s. Exclusive to Avalanche as a DeFi platform. Now, also in Arbitrum. AAVE is by far the largest DeFi protocol on Avalanche. It currently holds 35% of all TVL in Avalanche.
However, after that, Benqi, which gets most of its volume from liquid staking, is in 2nd place, followed by Trader Joe’s in 3rd place. The largest local DEX in Avalanche. There is no special project or money here like COTI has with DJED. But for a ‘smaller’ DEX like Trader Joe’s, they have lots of great farming and ponding options:
Why do I love TraderJoe?
What Trader Joe’s has to offer for a DEX of its size is great. When we look at the ratio of market value to TVL, it seems very worthless compared to its peers. Trader Joe’s is less than 1. They have a TVL of $103 million and a market capitalization of $88.4 million. So this is a ratio of 0.815.
For comparison, in AAVE 3.6. At 3.6 percent, Trader Joe’s will be valued at $370 million, or more than 4 times its current price. Another reason I love JOE is that like with COTI and Cardano, a bet on JOE growth means a bet on Avalanche. Yes, Avalanche has other things going on like its subnets. But they have said many times that they want to be a DeFi hub. And if they do, JOE will benefit.
Finally, they have great tokens like JOE. More than 75% of the total supply is already on the market. So their growth is real, they are not produced due to low volatility in the market.
The opinions and recommendations in the article belong to the analyst and are not investment advice. We recommend that you do your own research before investing.
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