Analysts share the 5 best altcoin projects to invest in that have the potential to explode for the rest of the year. They also explain the reasons for their choice.
The top altcoin Decentraland (MANA)
Decentraland is a decentralized, immersive virtual reality platform on the Ethereum Blockchain. Revel, which appeals to both individuals and businesses, combines game and e-commerce elements. It is possible for users to play games or create art galleries, concert halls or other businesses. For example, they have the opportunity to get quotes from others for visiting these places. The platform also allows users to purchase sandbox parcels called LAND through Non Fungible Tokens (NFT).
MANA is a new cryptocurrency powering Decentraland. The token is used to purchase LAND, avatars, wearables, and other in-game items on the platform. In this middle, Decentraland is leading in the middle of the metaverse projects. The network has attracted leading brands within the metaverse, including Coca-Cola, Samsung, and JP Morgan Chase. MANA made over 150% profit last year. Moreover, it is in the middle of the most affordable altcoins with a market cap of $ 1.2 billion.
Next on the list is Polygon (MATIC)
Polygon helps scale Ethereum by providing a side-chain that connects to the Ethereum network. As a Layer-2 scaling solution, the network connects various Blockchain projects that do not necessarily need to be interoperable on Ethereum. It also allows for faster and cheaper processes.
MATIC is the token that powers this tier 2 platform. Polygon uses its own Proof-of-Stake (PoS) Blockchain and Commit Chain contact to help scale the Ethereum network. The goal is to resolve inefficiencies that may hinder the widespread adoption of blockchain technology. In this middle, well-known decentralized finance (DeFi) projects such as SushiSwap, Curve, and Aave are using Polygon.
Altcoin Ripple (XRP)
Ripple (XRP) provides real-time payments with extremely fast processes. XRP is the token used on the Ripple network to facilitate money transfers amid various currencies. The platform is considered the most efficient payment option for financial institutions in terms of mid-bank flows.
As a result, XRP remains popular amid both institutional and personal investors. In fact, it is being hailed as a new alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) communications network. Therefore, Ripple is threatening to disrupt its international wire transfer business. Despite the headwinds on the platform, the litigation between Ripple and the US Securities and Exchange Board (SEC) has curtailed the altcoin price over the past year. The generic situation also prevents the altcoin from trading on US-based exchanges.
However, many bullish investors still see Ripple as the future of international money transfers. If Ripple wins the SEC case, XRP-USD is likely to rise above its all-time high of $4.
‘Ethereum killer’ Cardano (ADA) fourth
Cardano is one of the best altcoins with an excellent development team. Expert academics designed it using peer-reviewed literature. Cardano aims to perform a series of complex processes without the help of an intermediary. This open-source Blockchain network has a number of potentials that solidify ADA’s position as the most adequate investment option in the market.
Cardano is a decentralized platform that has been in development since 2017. It has made tremendous progress since then. In addition, Koindeks.com As you follow, it launched smart contracts in 2021. Cardano stands out with the Ouroboros Proof-of-Stake algorithm, which has the trilogy of security, decentralization and scalability. With its growing technical capabilities, Cardano is likely to see growing adoption as a Launchpad for Dapps.
Latest altcoin ‘speed freak’ Solana (SOL)
Solana is another altcoin project that is popular with the industry. It aims to increase scalability and make DeFi more accessible on a larger scale. The goal is to do this by combining the Proof-of-History (PoH) consensus with the underlying PoS consensus. In addition, it has amazing fast process deadlines matched by a cheap price. This makes SOL a recognized Blockchain amid NFT communities.
These qualities also make Solana perfect for high-throughput functions on the Blockchain, such as music streaming, gaming, and high-frequency trading. Solana has impeccable foundations. However, the catalyst that brought the price of SOL to the moon in 2022 is an NFT project called “Degenerate Ape Academy”. Many decentralized applications such as decentralized exchanges (DEXs) and lending platforms are located on Solana. In addition, the network hosts various DeFi applications, NFT projects and Web 3.0 applications.