A well-known analyst in the cryptocurrency community, Mystery of Crypto, has identified ten altcoins on X (formerly Twitter) that have high potential amid the current turbulence in the market.
The crypto market is actively recovering after a sharp drop at the beginning of the week. Many believe that now is the best time to invest in promising alts.
The most reliable cryptocurrencies
On Monday, when the price of Bitcoin (BTC) fell below $50,000, a flurry of liquidations swept the market. In just one day, traders lost more than $1 billion. The collapse was the largest since the FTX crash in November 2022.
Mystery of Crypto named ten coins that, in his opinion, are the most stable and safe in conditions of high volatility.
Toncoin (TON)
The analyst's rating is headed by Toncoin, the native token of The Open Network (TON) ecosystem, on the basis of which a huge number of decentralized applications (dApps) have been created. These dApps include gaming, social, and DeFi applications, which have recorded significant user growth over the past six months.
According to DefiLlama, the TON blockchain processes over four million transactions daily. The total value of locked funds (TVL) in the network exceeds $560 million. Since Monday, the figure has increased by 20%, which adds confidence to the choice of Mystery of Crypto.
Solana (SOL)
Solana is showing strong performance in 2024. According to Mystery of Crypto, key features of SOL include high scalability and low transaction fees. This is what makes the network attractive compared to its competitors.
SOL's position as a leading altcoin is underscored by strong interest from developers and major investors.
Solana hit an all-time high against Ethereum (ETH) earlier this week, and the network remains the most popular platform for memecoin traders.
Arbitrage (ARB)
Arbitrum is a key player among the second layer (L2) solutions for Ethereum. The network has 408,000 daily active users. According to DefiLlama, the TVL of the ecosystem is $2.5 billion, which is significantly higher than Polygon (MATIC), Optimism (OP), and other L2 solutions.
Arbitrum offers a user-friendly interface for trading cryptocurrencies and is considered one of the best platforms for perpetual contracts. The network is supported by a major investment company Pantera Capital. This puts ARB in a very advantageous position in the market.
Ondo Finance (ONDO)
Ondo Finance is one of the most mentioned projects by analysts. The protocol is focused on the tokenization of real-world assets (RWA).
Ondo's credibility is enhanced by strong partnerships with giants like BlackRock and Coinbase Ventures. The project's position is also strengthened by its partnership with the Pyth network.
Near Protocol (NEAR)
Near Protocol is known for its sustainability and innovation. The project platform is popular among developers. The ecosystem fund constantly supports the development of new projects based on Near. The project team has allocated $800 million for this initiative.
Among L1 scaling solutions, NEAR has the largest number of daily active users, second only to Solana.
Mantra (OM)
The RWA project Mantra is constantly evolving and adding new features, while improving the scalability of Ethereum. Given the growing interest in tokenization, the platform also promises good profits.
Not long ago, Mantra developers launched the second season of the airdrop for 50 million OM, and the crypto exchange dYdX listed the native token of the ecosystem.
There are currently over $50 million worth of OM locked in staking. The limited supply of Mantra tokens increases the chances of their further appreciation.
EtherFi (ETHFI)
EtherFi is a leading Ethereum-based restaking protocol. The project recently launched its second airdrop season, which will distribute over 53 million ETHFI tokens worth approximately $100 million.
An active rewards model where each user receives additional bonuses will help EtherFi attract even more attention to the ETHFI coin.
The project also has its own crypto wallet Cash, which allows you to top up your account using a regular Visa bank card.
Polygon (MATIC)
Polygon is a popular Ethereum scaling solution. The project collaborates with the Ronin bridge from the popular Web3 game Axie Infinity. There are over 17,800 different dApps operating in the MATIC ecosystem.
Polygon is especially popular among DeFi projects and non-fungible tokens (NFT). The developers have allocated 35 million MATIC for the development of blockchain-based projects.
Render (RNDR)
Render is a project in the field of artificial intelligence and graphics processing units (GPUs) that is extremely popular in the gaming and film industries.
Interest in Render has grown significantly over the past six months. Active addresses on the network and transaction metrics of large investors have reached six-month highs amid growing interest in AI. This makes RNDR a promising asset.
Arweave (AR)
Arweave offers persistent data storage for a one-time fee and already stores over one petabyte of data on its network.
Earlier, the project developers announced the launch of their own token under the ticker AR without preliminary mining or pre-sales. The Arweave team also teamed up with the InQubeta platform, which is engaged in the development of the blockchain. All this makes AR a coin that is definitely worth keeping an eye on.
However, traders should not rely solely on analysts' opinions. It is important to remember that it is always important to conduct your own analysis or consult with financial professionals you trust.
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