The current market crash has triggers ranging from Earth’s failure and Fed actions to tackling rising inflation. However, Bitcoin (BTC), Ethereum (ETH) and most altcoins have been hit hard. This article is taken from independent market analyst Tanvir Zafar’s list of 5 altcoin projects that will explode when the market …
Fundamentals that guide the analyst’s altcoin choices
Tanvir Zafar’s selections were: STEPN (GMT), Synthetic (SNX), Solana (SOL), Chainlink (LINK) and Choise.com (CHO). Each of these cryptocurrencies is a performance-based example. They also represent various aspects of the Blockchain economy, including NFT, Oracle, DeFI, and CeDeFi. This analysis focuses on the trends shown over the past week and the key growth drivers for these projects.
MetaFi Coin: Choice.com (CHO)
The Choise.com protocol promises to simplify DeFi offerings for both individual and institutional investors. Interestingly, the CHO token holds around 7% while the market decline exceeds 90%. According to the analyst, we can see the altcoin project exceed the price of 1.24 ATH in the next few days.
Web3 Lifestyle App: STEPN (GMT)
STEPN has Solana-based GameFi elements. It is also a “Web3 lifestyle app” feature. As a fitness platform, it claims to gamify wellness. In addition, it has the concept of “move to earn”, which combines with game elements to win.
GMT is currently trading at $ 0.077, down 5%. According to the analyst, with its observed flexibility, GMT will draw a more ambitious growth chart in the near future.
DeFi Synthetix Protocol (SNX)
Synthetix allows a wide variety of cryptographic and non-cryptographic assets to communicate with the Blockchain. SNX is up 7.02% in the past 24 hours at the time of writing. It is currently and is trading at $ 3.18. If Synthetix continues this bullish momentum, its price could reach $ 6 in the coming weeks.
Layer-1 protocol: Solana (LEFT)
Solana, on the other hand, is one of the functional Blockchain networks that wants to replace Ethereum. It also hosts the DeFi, NFT and metaverse transfer protocol. With its growing ecosystem, the demand for SOL tokens continues to increase. Solana has gained 30% at some point since last week.
Oracle protocol: Chainlink (LINK)
Chainlink is the first Oracle protocol in the cryptocurrency ecosystem that links Blockchain protocols in search of data that may be needed for DApp development and functionality. cryptocurrency.com As we explained in their analysis, LINK at $ 6.6 is a far cry from its $ 52.88 ATH. But he was largely ranked among the top performers of the week. According to the analyst, LINK has a target price of $ 12 before the end of the third quarter.
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