This year’s crypto bull run may be different. Last month (April), the cryptocurrency market experienced a difficult period, with a cumulative market value loss of 11.3%, mainly affected by changes in interest rate expectations, geopolitical risks and slowdown in spot Bitcoin ETF trading.
Despite the challenges, there are still positive developments. After obtaining regulatory approval, six cryptocurrency-based spot ETFs began trading in Hong Kong on April 30. In addition, the total supply of stablecoins pegged to the US dollar reached a two-year high, and the stablecoin supply of USDT and USDC continued to grow, showing a trend of funds flowing into the crypto market. Cryptocurrency market value monthly change (%) chart:
Summarizing the important Web3 news and token unlocking in the next month, major events in May 2024:
There are still opportunities in this round of crypto bull market, but more realistic expectations should be set. The market floor is set very high, and the bottom of each cycle is 10 times the low of the previous round. But market growth cannot be replicated, and more altcoins will appear in the future, and the market will expand further. The bull market is still worth looking forward to, as long as we seize the opportunity.
Recommending 4 cryptocurrencies with 100x potential to break new highs in the bull market!
1.PENDLE
Pendle is a blockchain project that promises to provide fixed income to everyone. This revenue-sharing network allows investors to control returns to hedge market risks. Essentially, the main goal of the project is the tokenization and trading of future yields. It has created a unique automated market maker that supports assets with time delays. This approach of allowing users to control future returns is said to optimize staking rewards.
The platform is also cross-chain compatible and can be used on Ethereum, Arbitrum, BNB Chain and Optimism. The core of the technology consists of three elements: yield tokenization, Pendle AMM and vePendle.
Yield tokenization allows users to split their yield-producing assets into separate yield and principal components, similar to principal and interest. The Pendle automated market maker allows investors to pool liquidity when trading yield, and vePENDLE is the yield users will receive when staking their $PENDLE tokens.
As one of the projects with the highest TVL in the DeFi field, Pendle recently cooperated with Renzo Protocol in terms of future development to make it easy to obtain income in a sustainable way.
2.ADA
The name Cardano was conceived by the 16th-century Italian polymath Gerolamo Cardano, who founded the network in 2017. Native ADA token. Thanks to the token's architecture, owners of ADA tokens can participate in the operation of the network. Thus, users who own the cryptocurrency can vote on possible proposed program changes.
Cardano (ADA) has several innovative technical features designed to address scalability, security, and sustainability issues in the blockchain space.
What makes it different from other projects is that it emphasizes a research-oriented design approach, aiming to achieve what it considers academic rigor to drive adoption of its technology. For example, its consensus algorithm Ouroboros has been deemed "provably secure" by a formal review process, with security on par with Bitcoin's PoW algorithm. In addition, Cardano's code is written in the formally specified Haskell programming language, which is commonly used in banking and defense sectors.
The technological advantages have also made Cardano a firm "belief" for some investors. Currently, the staking rate of ADA has exceeded 70%.
3. PYTH
Pyth Network provides users with one of the fastest growing third-party oracle networks, providing real-time market data for financial decentralized applications on over 45 blockchains. It is said to provide over 400 price feeds and is said to be very accurate.
The financial data it provides is not limited to cryptocurrencies; stocks, forex, and commodities are also included. Currently, the project has acquired major players including CBOE, Binance, OKX, Bybit, and Jane Street.
Pythnet is a fork of Solana with low latency, providing users with high-frequency price updates. Currently, Pyth Network purportedly allows over 80 million updates per day for more precise and secure information.
Due to these factors, Pyth Network has gained attention as the best altcoin for those looking for data on demand. PYTH was hit by the cryptocurrency market's decline, but now its market value and trading volume have surged by 9% and 67.7% respectively, outperforming many top cryptocurrencies and currently trading at around $0.49.
4.LTC
Litecoin (LTC) is the first altcoin after Bitcoin and was launched in 2011 when a former Google engineer named Charlie Lee designed Litecoin as a “Bitcoin Lite” because it has many of the same properties as Bitcoin but is lighter in weight.
Litecoin is sometimes called "digital silver" and Bitcoin is called "digital gold". From these nicknames, we can easily understand the difference between the two. Silver is generally used for small daily transactions, while gold is used as a store of wealth and is not often used in daily life.
Litecoin is a decentralized digital currency. Providing secure, fast and low-cost transactions, Litecoin (LTC) was created to take advantage of the unique qualities of blockchain technology. Microtransactions and point-of-sale payments are a perfect fit for Litecoin due to its fast block times and low transaction costs. Its merchant usage and acceptance has since grown exponentially and remains at the top. Top 16 cryptocurrencies by market valuation.
Although it is still below its peak of $420 from December 2017. While Bitcoin and other cryptocurrencies have shown varying degrees of resilience, Litecoin’s growth potential remains closely watched.
