The crypto market is pretty bloody these days. It’s time to look at projects, utilities, use cases, teams, technology, and various other metrics you need to focus on. Cheeky Crypto, the crypto-focused Youtube Channel, is checking whether 5 altcoin projects including Avalanche (AVAX) can survive this bear market.
Before Avalanche (AVAX) there is Terra (LUNA)
Terra, a Blockchain protocol that uses fiat-pegged stablecoins to power price stable global payment systems . According to its whitepaper, Terra combines the price stability and wide adoption of fiat currencies with the censorship resistance of Bitcoin (BTC), offering fast and affordable payments.
“This is a really well-funded project,” the analyst notes, noting that there is a lot of VC in it. According to the analyst, this project will easily survive a bear cycle because its technology, use case, support and team are fantastic. At the time of writing, LUNA is trading at $51.75, down 21%, and is number 10 by market cap. However, according to the analyst, the project that still needs to be looked at is Terra.
Avalanche (AVAX) second in the list
The second altcoin in the list is Avalanche (AVAX), which is 13th by market capitalization . The analyst states that Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by the duration of certainty. Avalanche is incredibly fast, cost-effective and environmentally friendly. According to the analyst, any smart-contract-enabled app can outrun its competitors by rolling out on Avalanche.
According to the analyst, this is a great project because it is a low-cost, eco-friendly, smart contract platform, the technology is tremendous, and the team is solid. The analyst also reminds that there are plenty of VC investments and funds. According to the analyst, it has a pretty decent size, but that will continue to grow along with its ecosystem. At press time, AVAX is down 13.4%, changing hands at $44.07, with a market cap of around $11.9 billion.
The next project after Avalanche (AVAX) is Algorand (ALGO)
Kriptokoin.com Algorand, which you can learn in detail from this article, is a self-sustaining, decentralized, Blockchain-based network that supports many applications. “These systems are secure, scalable, and efficient,” the analyst says, noting that these are critical features for effective real-world applications. Meanwhile, Algorand will support computations that require reliable performance guarantees to establish new forms of trust.
According to the analyst, although its price has dropped 12.66% in the last 24 hours, this ecosystem has great potential for growth and price discovery after it. The analyst expects to see price discovery in ALGO. At the time of writing, ALGO is trading at $0.6433 and is ranked 26th by market cap.
The next altcoin on the list is Hedera (HBAR)
Hedera is a centralized platform that allows individuals and businesses to build powerful DApps. The most used, sustainable, enterprise-level public network for the non-economy. “This project has a solid team and solid technology,” says the analyst, with a lot of funding available and it will be really good. HBAR currently sits at #36 by market cap and is down 10.6% at $0.114 at press time.
The last project in Chris’s list The Graph (GRT)
Graph to query data for networks like Ethereum and IPFS, An indexing protocol that supports many applications in DeFi and the wider Web3 ecosystem. According to the analyst, this is a solid project, it will be especially successful with web 3. At press time, GRT is down 12.87 percent at $0.2593, changing hands at 59th by market capitalization.
