The leading cryptocurrency Bitcoin (BTC) is frequently making headlines. However, a large number of other promising cryptoassets are also worth considering. According to analysts, despite the recession in the market, the general opinion is that the sector will most likely go up in the coming months. Accordingly, analysts chose 5 altcoins with explosive potential because they are relatively affordable.
Top coin: Tron (TRX)
The TRON (TRX) market has seen significant growth attributed to the success of the TRON Virtual Machine (TVM) and recent collaboration with DWF Labs. In particular, a recent report from Messari highlighted Tron’s growth in the previous quarter. The report highlighted significant increases in TRON’s daily average active accounts, new accounts and transactions, with increases of 14%, 13.4% and 28.9%, respectively.
Despite consistently trading above $0.076, analysts remain optimistic about TRON. They also suggest that in continued bearish conditions, it could bounce back and provide significant returns for investors. This makes the altcoin project an attractive investment option. At the time of writing, TRX was trading at $0.08, gaining less than 1% in the last 24 hours.
TRON one-day price chartPopular meme coin Shiba Inu (SHIB) is also on the list
cryptocoin.com As you follow, meme coin has successfully relaunched Shibarium. After that, it attracted attention in the crypto market and renewed itself. Outages initially affected rebooting due to network congestion. However, the solution continued to operate after receiving support from other crypto assets, primarily Polygon (MATIC).
The launch of Shibarium has led to significant on-chain growth for the Shiba Inu (SHIB) network. Accordingly, the re-launch of Shibarium enabled 35,000 new wallets to be unlocked in just one day. Thus, the total number of users exceeded 100,000. Analysts expect this renewed interest to support the altcoin price increase. At the time of writing, SHIB is worth $0.0000079 and has corrected 3% in the last 24 hours.
SHIB one-day price chartThird altcoin with explosive potential: Hedera (HBAR)
Hedera (HBAR) has seen significant interest in cryptocurrency over the past month. Thus, it maintained an overall positive trend. Despite the short-lived correction in token value, the altcoin showed notable gains in other on-chain metrics. For example, social activity around HBAR increased by over 200% in a week until 8 August. It should be noted that this is a model that has historically been a harbinger of price increases.
Also, Hedera’s potential is bolstered by strategic partnerships such as its collaboration with platforms like Calaxy launched on the Hedera network. This partnership is in line with Blockchain’s role in the Web3 era. It also increases opportunities for monetization from the creator. At the time of writing, HBAR was trading at $0.05, reflecting a 5% correction over the past 24 hours.
HBAR one-day price chartWe don’t forget Vechain (VET) either!
The price of Vechain (VET) is falling steadily, reversing previous gains. Unfortunately, it has struggled to attract enough buyers to surpass its previous high as sellers hold the top and lower the price in line with the overall cryptocurrency market. Despite its falling price, VET continues to be recognized as one of the most promising altcoin projects.
Crypto relies on various initiatives such as strategic collaborations. For example, VeChain has joined forces with artificial intelligence firm SingularityNET, becoming the latest blockchain developer to embrace this emerging technology. This strategic partnership aims to combat climate change using advanced artificial intelligence algorithms and leveraging VeChain’s corporate data. At the time of writing, VET was worth $0.02 and has lost over 4% in the last 24 hours.
VET one-day price chartLast-ranked potential altcoin: Chiliz (CHZ)
Chiliz (CHZ) experienced positive price action for most of the week despite being affected by the prevailing bearish market sentiment. This increase in price coincided with the project offering a main-net upgrade in early 2023. The upgrade, derived from BNB Chain, introduced a new token standard known as CAP20, designed to support sports and entertainment cryptocurrencies in the ecosystem.
In a significant development, Binance has announced its intention to integrate the Chiliz 2.0 main-net. This integration will automatically convert all Chiliz-based tokens, including native CHZ tokens and fan tokens, from existing BEP2, BEP20 and Chiliz Legacy Chain addresses to the CAP20 token standard. Meanwhile, CHZ is valued at $0.06 and has dropped almost 4% in the last 24 hours.
CHZ one-day price chartThe opinions and estimates in the article are those of the analysts and are not investment advice. We recommend that you do your own research before investing.
