Cryptocurrency markets do not move much. Even a potential war in the Middle East would not move markets by more than 1-2%. This is the definition of market complacency. Well what does it mean? This means that some big projects give us a good entry opportunity. Crypto expert Stu L shares 2 altcoins with this potential.
First ranked altcoin: Solana (SOL)
Solana is somewhat controversial for many reasons. A VC Blockchain? Yes like that. But does that mean they have the funds and support to weather the storm if the bear market continues? Also, yes. Were they hurt by the FTX fiasco and their relationship with SBF? Yes. But did they survive to grow when the market returned? And yes.
The key features and advantages of @solana:
1. Unparalleled Scalability
2. Low transaction costs
3. Fast confirmation times
4: Developer-friendly environment
5. Vibrant ecosystem & community @Syndica_io's latest knowledge base piece is now live. https://t.co/jNimErkqWy— dan jablonski (@dan_jaybo) October 10, 2023
But we will look at this objectively. Every investment has a risk-reward ratio. And not just cryptocurrencies. Stocks, real estate, investing in a business, anything. In crypto, this can be difficult to measure. But something that is easier to measure is the risk side. What is downside risk? Of course, the total risk goes to zero in cases where the token has no value and the altcoin project goes bankrupt. And we’ve all seen examples of this.
Let’s take a closer look at Solana
cryptokoin.com As you follow from , Solana has been hit with a lot of bad news this bear market. FTX, network outages and more. So what was its lowest point? So far, the bear market low for SOL was $9.60 in late December 2022. Current price? $21.8 at the time of this writing. Can SOL go to zero? Yes. It is possible for any project in the sector, except Bitcoin, to go to zero.
But what are the chances of this? With all the bad news, the lowest value Solana saw was $9.60. It would take a very large, unusual black swan event for SOL to break through this low and move lower. Some of FTX’s Solana holdings could hit the market this quarter. This would make the altcoin project a better buy than it is now. Our risk in this stock is very low. But there are tons of potential upside considerations. Even if you ignore the all-time high of $259. A 5x increase to $100 is definitely possible. While the rewards still look good for Solana, the risk is very, very low. That’s why it’s on this list.
Today, @Nansen_ai released their Solana: Past, Present, and Future report.
The report highlights network upgrades like local fee markets, growing enterprise & developer interest in the Solana Virtual Machine (SVM), consumer apps leveraging Solana’s tech, & more.
Dive in👇📖 https://t.co/Pm7mZBXECp
— Solana (@solana) October 6, 2023
Polygon (MATIC) comes in second place
It’s hard for us to imagine that this altcoin project is undervalued or that its achievements are under-publicized. But that’s exactly what happens. MATIC token is becoming more valuable and useful. This is the idea behind the switch from MATIC to POL. You can use the token on all networks, including zkEVM.
Yesterday, Polygon zkEVM’s first upgrade went live on mainnet, bringing PUSH0 to Ethereum L2s.
To use the Dragon Fruit upgrade, devs will need to update to the latest node, prover, and bridge service.
You can find the GitHub repos here:https://t.co/G6hSdEAsgL
— Polygon (@0xPolygon) September 21, 2023
Contracts in POL are currently on test-net. So it’s coming soon. You will be able to bet on POL much more easily than you can currently on MATIC. So what has happened since the announcement? It fell. The altcoin price has fallen from 87 cents to its current low of 53 cents. There is no reason for this other than general market malaise and less activity and trading going on. And it is much, much lower than the all-time high of $2.92 2 years ago at the beginning of this bear market. To get back to that peak, you have to climb almost 6 times from here.
1/ Today, we are excited to propose the Polygon 2.0 architecture, designed to provide unlimited scalability and unified liquidity, thus transforming Polygon into the Value Layer of the Internet!
Read the blog 👇🏽 or keep scrolling 🧵https://t.co/sShy6R1E6R pic.twitter.com/BTdwkri4nI
— Polygon (Labs) (@0xPolygonLabs) June 29, 2023
The opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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