As of 2022, over 10,000 altcoin projects are taking the stage. But even some of those who are successful at the moment will be wiped out of the market. Behind this, there are some events that have not come to light now. In the new report, Investorplace analysts list Solana, Dogecoin, Monero, Aptos and 20 altcoins that threaten such a collapse.
25 altcoins to be sold before they crash: Solana, Audius, Chiliz…
Ethereum Classic (ETC)
Ethereum Classic is one of the last PoW Blockchains to represent what’s left of Ethereum. Investorplace analysts note that ETC is still a cumbersome and dapp-free network. Also, while the merge took Etehreum to a different level recently, ETC has been partially silent. For this reason, analysts recommend throttling ETC positions in wallets before the imminent disappears altogether.
Shiba Inu (SHIB)
The Shiba Inu has managed to stay in the top 20 for a long time thanks to the attention of personal sedatives. However, he has not yet been able to launch the new projects he promised. Even if Shibarium is released soon, it will probably be overshadowed by L2s such as Polygon (MATIC), according to analysts.
Monero and Zcash are the biggest projects in terms of privacy-oriented use case. But now, Know Your Customer (KYC) rules are of particular interest to governing bodies. Also, the European Union (EU) made headlines earlier this summer when it developed KYC rules for crypto companies. As a result, their privacy-focused cryptos will be heavily blocked by this legislature. According to analysts, projects such as Monero and Zcash that violate these users can become targets.
Terra Classic (LUNC)
The collapse of Terra Classic has put many crypto winter investors in a situation they now find themselves in. At the beginning of the year Terra was a legally sound project. It was a layer-1 network with its own daps ecosystem for interaction. But we’ve seen the stablecoin’s algorithmic model fail in hard sells. Currently the Terra team is doing nothing to get the project back on track.
The new version Terra (LUNA), formerly LUNC, promised to be a place for developers to continue building on layer-1. The first time he was put on the field, community members reacted aggressively to the idea. In a preliminary ballot, 92% of the participants voted against. Still, when the real vote came and went, 65% of voters approved the hard fork. But LUNA is still drowning in Do Kwon’s evil reputation. Analysts advise to stay away from portholes as it is one of the reasons for the last crypto winter.
Audius is an outstanding example of adding Blockchain analytics to a distress that doesn’t really exist. However, its technology does not constitute a particularly strong selling point. First, he argues that its decentralized nature helps artists pay more for their work. Still, there are already platforms like Tidal that do this in the highest possible audio quality. Audius also claims to bring fans and musicians closer than ever before. But services like Bandcamp have been doing this for years. That’s why there are so many projects that Audius has to go through so they don’t wipe it off the market.
Dogecoin is one of the cryptos to sell right now regardless of the hype. It owes much of its success to Bitcoin. However, Bitcoin essentially meets all the features that DOGE provides. Other than the humorous side, there are few areas where it is more suitable than Bitcoin.
Bitcoin Cash (BCH) and Bitcoin SV (BSV)
The two are examples of Bitcoin’s unworthy hard forks. While there are use cases, they are not projects that solve anything new or that appear to be widely adopted. This puts them on the list of cryptos to sell.
Despite the hundreds of projects it owns, Solana has now been unable to surpass Ethereum or BNB Chain in any of them. In addition, the Solana network regularly crashes in about 3 months. With the Ethereum merge, we see that the Solana network is increasingly in the background. According to analysts, Ethereum will likely manage 90% of the world’s processes and there will be very few projects to fight it.
APE is supported by the recognized NFT collection Bored Ape Yacht Club (BAYC). This means that if BAYC collapses, Apecoin will also be wiped out of the market. APE essentially had a pretty strong rally when it first launched in March 2022. According to analysts, we will not be able to see this acceleration again.
Chiliz is a premier altcoin project for fan tokens. But despite all the money flowing into the project, a pragmatic mind does not see that crypto has gone beyond its previous successes. Some argue that the token will rise as sports fans are statistically more likely to buy crypto. However, the indices about the other half-works should not be overlooked.
Contrary to popular belief, the metaverse does not require blockchains. The reason projects like Decentraland and Sandbox are on the rise is because they can offer unique items and places as NFTs with their Blockchain. However, NFTs and Blockchain technology do not make the metaverse realms recognizable, as Meta’s experience with Horizon Worlds has proven. These metaverse projects will have to compete with Microsoft and other tech giants in the near future. Since this is a very difficult track, the market needs projects that are superior to Sandbox and Decentraland.
Axie Infinity (AXS)
Axie Infinity is one of the cryptocurrencies that has lost the most following last year’s bull run. Moreover, AXS tokens will be unlocked on October 25 at the cost of millions of dollars. If you still have AXS in your wallet, Koindeks.comDon’t miss this article.
Polkadot (DOT) and Kusama (KSM)
Polkadot and its sister project Kusama are some of the more unique projects in the crypto space. These projects are not just about a random layer-1 network. Rather, the two are 100 “parachains” existing in the middle of each other. However, it has some long-term disadvantages. First, each project can only hold 100 dapps in a reasonable amount of time. This is not well suited to creating a network that necessarily serves needs. Combine this with the fact that both projects rely heavily on bridges. As a result, there are many reasons to be skeptical of the future of the duo, according to analysts.
Internet Computer (ICP)
Internet Computer has made some big arguments about what’s going to happen in the past. At the time the project was released in 2021, ICP was threatening Ethereum and every other layer-1 with staunch arguments over its scalability. But the project, which was launched in May 2021 for over $400, proved unsustainable from this leap. By July, just two months later, prices were below $50. Now it’s under $5.
Stellar is a solid project with great promise in the world of cross-border payments. Stellar has positive aspects over Ripple. However, Ripple is a much bigger project. Moreover, it is envisaged that further centralization of Ripple will help it take on a role serving banking institutions. Moreover, Ripple has already made agreements with many national banks. As a result, there is a huge pool for XRP instead of XLM in the world.
Aptos is the newest project on this list. It had a lot of supporters before it was released. Crypto was founded by two Meta Platforms graduates who have worked on Meta’s crypto initiatives in the past years. Aptos has also received investment from FTX, a company that doesn’t waste money. It also promises to send 130,000 processes per second (tps). However, after launch, the mesh already sees some steep roughness. First, they split almost half of the total APT supply among their own and private investors. The network also only gives TPS in single digits. The founders argue that this output will increase as dapp developers join the network. However, there is also uncertainty that the Move language will manage to attract them in the first place.
Tether is the largest stablecoin in the open medium with a market cap of over $68 billion. However, the project has already seen a lot of controversy. First, he bragged to investors about his reserves. Now, USDT processes are completely banned in New York. These activities also led to scrutiny by Congress, causing multiple bills to attempt to curb stablecoins.