Top 5 Altcoins At The Verge Of Breakout In The New Bearish Market

Last Updated August 9th 2022
6 Min Read

Many cryptocurrencies have made marginal to decent gains as the crypto market is slowly moving to stabilize. These contain metaverse, utility, DeFi, and NFT crypto assets that have withstood the bear market because of their well-established use cases. We know Bitcoin will survive the crypto winter. But what about the rest? 

In this piece, we will explore the top 5 altcoins on the verge of a breakout in the 2022 bearish market for crypto investors to gain in their crypto wallets. 

Cardano (ADA) 

To begin with, Cardano is one of the best altcoins with an exceptional development team. It is designed by expert academics using peer-reviewed literature. It aims to carry out a range of complex transactions without the help of a middleman. This open-source blockchain network has an excellent array of prospects that solidifies ADA’s position as a top investment option in the market. 

Recently, an update from the network’s developers at Input Output Hong Kong (IOHK) released some exciting news for the future. The implementation of some updates to improve the smart contract capabilities of ADA has raised Cardano’s demand and value in the market. 

Furthermore, developers stated that there would be another series of updates coming in the near future, including the deployment of a light wallet, a decentralized app store, development tools, new APIs, and sidechains. This is good news as increased capabilities will likely lead to wider use and adoption, making ADA one of the top 5 altcoins at the verge of a breakout in the 2022 bearish market. ADA is currently trading at an affordable price of $0.53.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Harmony (ONE)

Harmony one is a decentralized, peer-to-peer protocol that allows financial institutions to create cryptocurrencies. Currently, two types of tokens can be created on the Harmony network: equity and bond tokens. Equity tokens represent ownership in a company and can be used to compensate investors for token-holding services. The bond token can be used as an investment vehicle. The potential uses of Harmony tokens are practically endless, and they could end up as the de-facto method for conducting business-related financing.

ONE, the native currency of the Harmony blockchain, is currently at $0.02, beaming with the potential to rally soon. This makes ONE a top altcoin at the verge of a breakout in the 2022 bearish market.

The Harmony blockchain platform presents Ethereum-like attributes that makes developers choose it for its growth and scalability. The application of the Harmony bridge can cater to decentralized finance (DeFi) and non-fungible tokens (NFT).

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Chainlink (LINK)

Chainlink is a popular decentralized oracle network that plays a vital role in implementing blockchain technologies. The platform enables interoperability between the crypto and the fiat ecosystems by providing smart contracts (which drive DeFi) with secure, real-time data feeds. In other words, Chainlink serves as a middleware agent between traditional data sources, blockchain platforms, and smart contracts using its LINK token.

LINK is the digital asset used to pay for services on the Chainlink network. It is built on Ethereum in compliance with the ERC20 standard for tokens. LINK can be purchased and sold for fiat currencies or other cryptocurrencies. 

Chainlink is expanding the functionality of blockchain networks and is providing developers with a distinct level of flexibility. For these reasons, we believe that Chainlink (LINK) is one of the top 5 altcoins at the verge of a breakout in the 2022 bearish market. Buy LINK now, when it is trading at $8.4, can help you gain massive returns in the future.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Polkadot (DOT)

Polkadot is a multi-chain application environment that enables cross-chain interoperability on a level previously unimaginable. Specifically, it allows users to send more than just tokens across blockchains. It allows these networks to communicate actual data. 

The network has rewritten history with its parachains, short for parallel chains, which are a series of connected blockchains. It is thus a “multichain” network consisting of blockchains running alongside one another in a way that speeds up transactions. Having multiple lanes to complete transactions leaves less chance for network overload.

Since its blockchain network is flexible, Polkadot has an increased ability to pivot and serve more specific needs. The platform is gaining interest from investors because it is more interactive. Developers can link blockchains to the Polkadot system and even create entirely new blockchains. 

Due to such factors, experts believe its native token DOT to be one of the 5 altcoins at the verge of a breakout in the 2022 bearish market.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Polygon (MATIC)

MATIC is an Ethereum token used to power the Polygon Network, an Ethereum multi-chain scaling solution. Polygon, formerly known as Matic Network, aims to improve interoperability between the Ethereum blockchain and compatible networks. Over the past few years, the platform has seen a significant increase in traffic. 

It started as Matic Network but soon after rebranded as Polygon as the scale of the protocol grew. Originally, it was only a Layer 2 Scaling Solution, but later it became an ecosystem of independent, collaborative, and interactive Ethereum-based blockchains.

Currently, more than 400 dApps are using the Polygon infrastructure. These include applications in decentralized finance, NFT & gaming, decentralized autonomous organizations (DAO), oracles, wallets, and business-to-business (B2B) technologies. The good news for investors is that the price of MATIC still has plenty of room for growth. 

It is currently trading at $0.9, making it the right time to buy as it is one of the top 5 altcoins at the verge of a breakout in the 2022 bearish market.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Bottomline

Yes, Bitcoin is the number 1 crypto, and an investment in it could work in your favor. However, the real money lies in altcoins which haven't fully appreciated in their value. Therefore, consider these top 5 altcoins that are at the verge of a breakout. 

Read More:

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The 5 Best Ways To Buy Polygon (MATIC)

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