A crypto winter has been crippling the market for almost all of 2022. Despite the plunging prices, a rising number of investors indicates that the market is on its path to recovery. In the midst of all this, which cryptocurrencies to invest in always remains a critical question to address.
The recovery phase makes it confusing and overwhelming for first-time users to know exactly which cryptocurrencies are ideal for investment. Having said that, the potential that cryptocurrencies hold leaves us curious about what the future picture looks like. Take a look at these 3 undervalued cryptos with insane upside potential.
Axie Infinity (AXS)
Axie Infinity (AXS) is one of the best and earliest play-to-earn gaming platforms. The platform is a blockchain-based trading and battling game operated by its players. Axie Infinity offers players a chance to buy, collect and trade the game's creatures, called Axies, having many forms, variants, and over 500 different body parts. The platform rewards gamers with AXS tokens, today worth $17.31 as of writing.
Axie Infinity has a market cap of $1.4 billion, indicating a sizable number of AXS token holders. As the buzz around the metaverse increases, AXS will attract more holders due to its exceptional utility for metaverse gaming.
Like other projects, Axie Infinity has seen the value of its in-game tokens decline. Accordingly, monthly active user and daily active user numbers are down. That said, this game remains very popular among a cohort of hard-core gamers and certainly boasts the potential to rebound during the next recovery.
Should the market turn around, the utility AXS is poised for a bull rally, making it one of the top undervalued cryptos with insane potential.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Chainlink (LINK)
Since its launch, Chainlink has come a long way. With smart contracts serving as the foundation for DeFi (decentralized finance), oracles that enable them to execute securely in response to verifiable real-world events are critical.
Chainlink (LINK) is a state-of-the-art cryptocurrency that brings investment and security to the world of crypto. It aims to be a reliable and secure bridge between blockchain and other distributed computing networks, allowing users to seamlessly fund from one platform to another with complete control over their investment. It is an attractive investment option for anyone looking to enter the world of fast-paced crypto trading.
Chainlink initially provided cryptocurrency price data to DeFi protocols such as lending platform Aave through a limited number of sources. However, it now encompasses a much broader range of activities.
The ecosystem now includes over 1,000 projects, with 700 oracle networks securing more than $75 billion in value — a tenfold increase from 2020 levels — and accessing more than one billion data points. Additionally, Chainlink saw a doubling of public usage of Chainlink Github software repositories — a commonly used metric for determining adoption.
All of this expansion contributed to LINK’s 52% year-over-year growth earlier. AccuWeather and the Associated Press have partnered with Chainlink to verify data, and former Google CEO Eric Schmidt has joined as an advisor, the latest indications that big tech and media are taking notice of Chainlink’s expanding applications.
Later this year, Chainlink will introduce staking, allowing LINK holders to contribute to network security by encrypting a portion of their LINK and earning rewards.
LINK has lost more than 70% of its value since its all-time high, suggesting that now may be the ideal time to invest as LINK is one of the top 3 undervalued cryptos with insane potential.
With its solid track record and potential for steady growth, Chainlink will be one of the most popular cryptocurrencies in the coming years. So if you are looking for a reliable and sustainable investment opportunity, Chainlink (LINK) is the most viable option.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Sandbox (SAND)
The Sandbox is a virtual reality game where users can simulate real-life activities within the metaverse. Currently, the brand benefits from collaborations with established gaming organizations such as Atari. Much of the trading volume comes from the creation and trade of NFTs and its design objective that allows players to create NFTs using the SAND metaverse tokens. SAND has a limited token supply of 3 billion tokens, and over 1.23 billion are in use.
The Sandbox (SAND) was first released as an open-world mobile game in 2012. In 2015, the game was released on Steam for PC. The Sandbox's alpha version was released on November 29, 2021. The project is backed by Alpaca VC, Ash Park Capital, Blue Pool Capital, and others.
The Sandbox (SAND) is renowned for its two major mobile hits, The Sandbox (2011) and The Sandbox Evolution (2016), which together have had over 40 million downloads on iOS and Android. Pixowl, a mobile game developer/publisher, opted to transfer its popular User Generated Content gaming IP and a big community of producers to the blockchain environment in 2018.
The Sandbox enjoyed a large growth during the 2021 NFT craze, crossing the $1 mark in the last quarter, and has since continued on an upward trajectory. As of writing, the market cap stands at $1.5 billion+, while SAND sells for $1.2, making it one of the undervalued cryptos with insane potential.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottom Line
If you are looking to invest in cryptos with high potential, then consider investing in AXS, LINK, and SAND. Based on various factors, experts believe these tokens have a promising future. That said, cryptocurrencies are volatile, and investors are advised to perform due research before investing in any crypto asset.
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