Bitcoin and Ether are not the only cryptocurrencies on the market. There are thousands of digital currencies out there, and more are being created every day that might be the next big cryptocurrency to explode. All cryptocurrencies other than Bitcoin are called altcoins, and several altcoins are being eyed by investors right now because of their promising future potential.
As we move past the recent crypto market-wide crash, it is important to buy assets that are likely to rally in the next bull run. However, picking a crypto asset with potential in a market with 20,000+ assets can be tricky. But don't worry! Based on key considerations and expert opinion, here are the top 5 altcoins at the verge of breakout in the new bearish market.
THORChain (RUNE) is an independent blockchain, cryptocurrency, and cross-chain decentralized exchange (DEX). The platform combines a variety of proprietary protocols to accomplish these functions. Notably, the ThorChain development team created the platform with the goal of powering the next generation of cross-chain decentralized exchanges.
In an attempt to keep pricing accurate, most decentralized exchanges use off-chain sensors, which adds the element of centralization to the platform. Oracles monitor stocks, weather, and even payment balances. However, THORChain uses arbitrage traders to keep the pricing accurate.
All pools are paired with RUNE, the native token, and all rewards are paid in the coin. RUNE is a BEP-20 token that is interoperable within the Binance Smart Chain (BSC) network. It is trading at $2.65 at the time of writing, an affordable entry point given that it is one of the top 5 altcoins at the verge of a breakout in the new bearish market.
Arbitrage traders are appropriately incentivized with RUNE to ensure that the volume of the token matches the volume of other cryptos on the exchange.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Fantom is one of the fastest and cheapest blockchains to use, and adoption has exploded since 2021, especially in the decentralized finance (DeFi) industry. It is a highly scalable, DAG-based smart contract platform for decentralized applications (dApps). The project aims to solve the scalability issues of existing public distributed ledger technologies and the native cryptocurrency for the network is FTM.
Fantom is an easy-to-use, pleasant, fast-growing/fast-moving Layer-1 blockchain that aims to improve performance and transactions with the native token FTM. Fantom has so far been able to cut transaction time to under two seconds. The system has governance rules which determine how the networks function. No leader is directing the show, although a technical board makes proposals, either ongoing or emergency.
In the Web 3.0 environment, FTM has created a winning crypto-business model by combining a safe system with decentralization and increasing scalability. This makes it one of the altcoins at the verge of a breakout in the new bearish market. FTM is trading at $0.37, an affordable entry point to make massive returns later.
Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.
Stacks (STX) is an open-source blockchain network that brings decentralized apps (dApps) and smart contracts to Bitcoin (BTC). Even though they're separate blockchains, Stacks and Bitcoin are effectively able to work together.
The STX token is the network's native cryptocurrency and is notable for being the first token offering qualified by the U.S. Securities and Exchange Commission (SEC). It is used on Stacks for transaction fees and deploying smart contracts. In addition, it can be "stacked" and earn Bitcoin rewards. Users need to hold STX to execute smart contracts and run dApps. You can also use the token as a cryptocurrency and send value in a peer-to-peer manner globally.
Stacks developers enjoy the convenience of composable and dynamic building infrastructure. The platform enables developers to build on top of each other’s apps and include Bitcoin-based logic. These features are driving a new type of dApp that is more secure and leverages Bitcoin’s stellar reputation and history, making STX one of the top cryptocurrencies beaming with potential.
NEAR Protocol (NEAR)
Near Protocol (NEAR) is a tier-one decentralized application (dApp) platform that validates transactions on its blockchain using a proof-of-stake (PoS) process. According to its whitepaper, it is a community-run cloud infrastructure for delivering and maintaining decentralized apps. It combines aspects of a decentralized database with a serverless computing platform.
Additionally, NEAR Protocol (NEAR) has released several improvements to its network, including NFT Marketplaces and a music streaming service. Numerous artists and developers are using the protocol, utilizing its network to construct dApps.
The NEAR token may be valued 10x soon after a series of rallies as whales continue to drive higher prices. If you’re looking to invest in scalable and multi-chain tokens, the NEAR coin is worth considering.
Given its unique features and price history, experts believe NEAR is likely to surge in value soon and is on the verge of breakout currently. At the time of writing, NEAR is valued at $5.39.
Cosmos is a network of blockchain networks. The goal of the project is to allow separate blockchains to communicate with each other seamlessly. By allowing any blockchain to communicate, share data, and transact with any other, Cosmos is transforming the blockchain sector.
However, Cosmos is more than just a bridge between blockchains. This platform also features a full suite of products and features that make it a valuable player in the market.
Cosmos introduces a next-generation technology stack that provides developers access to powerful tools that increase blockchain creation efficiency.
ATOM has been appreciating and making headlines in 2022. Positive market sentiment around ATOM makes it one of the top 5 altcoins at the verge of breakout in the new bearish market.