The crypto winter has brought extremely strong winds on the market. The altcoin market has shrunk by two-thirds since November last year. This led to a 70% drop from the peak prices of almost all altcoins, including Ethereum. Investorplace analysts are listing altcoin projects that have an opportunity to buy while prices are at this point.
Here are 6 altcoin projects approaching the opportunity zone
Ethereum (ETH)
Ethereum is the market’s largest smart contract platform. More than just an exchange tool, it contains applications that touch the real world. The most important part is that it does this decentralized. On the other hand, the Ethereum network is a leader in the NFT industry as well as dApps. It also continues to attract developers with its exceptional use cases. According to Electric Capital’s report, roughly 25% of developers flocking to blockchains prefer to work with Ethereum.
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Solana was one of the altcoin projects that exploded in the bull of 2021. It gained more than 11,000% in value in a short time. However, its price has dropped more than 90% due to market conditions in the new year. However, its smaller market cap has an easier path to astronomical growth with its network adoption and improvement gains.
The robust speed and cost benefits of the network continue to attract new users to their platform. Solana continues to grow its share in the DeFi and NFT sector every month. Thus, it gives less chance to ETH. In addition, Solana Labs continues to invest in new startups that can turn into key growth catalysts, such as Solana Pay.
Sandbox
Sandbox is one of the Ethereum-based metaverse platforms. You need the SAND token to transact in this virtual world. The platform derives most of its revenue from virtual land sales. Also, legendary rapper Snoop Dogg started a collaboration with Sandbox. Platform attracted over 300,000 visitors during the second season of ‘Alpha’ events
Sandbox plans to launch its first virtual gigs and mobile versions this year. That’s why Sandbox always has a place on the list when it comes to the metaverse on the subject.
Polkadot (DOT)
At the heart of Polkadot is the idea of bridging different networks. Developers can get all the features they need from Polkadot, avoiding scaling and slow processing times. Polkadot is still in its infancy with new developments added weekly. The main goal of the project is to be one of the most innovative projects of the Web3 era. Meanwhile, Polkadot recently came to the fore with news of a breakup. cryptocoin.comAs you follow, Solidity inventor Gavin Wood has announced that he is leaving the project.
Cardano (ADA)
Cardano (ADA) is the largest PoS Blockchain in the market. However, it processes more than 50,000 transactions per day. It has recently exceeded 50 million transactions on the network. Forward-looking, the team led by Charles Hoskinson plans to become the leading financial operating system globally. On the other hand, Cardano is already arguably one of the most important Blockchain projects on the African continent. It also increases the network capacity from 250 to 1,000,000 per second with the Hydra update. ADA is a slow-running tool designed for long-term investors. Therefore, there is a lot to gain for investors looking to invest in a long-term horizon.
Polygon (MATIC)
Polygon is a Layer 2 Blockchain that works with Ethereum as a side chain to significantly increase scalability and costs. Since its inception, Ethereum has been plagued with congestion and sometimes skyrocketing fees. However, MATIC essentially streamlines the process by processing Ethereum’s transactions and adding them back.
Some experts believed that ETH’s 2.0 update could end Polygon. However, ETH’s developers plan to work “synergistically” with Polygon to reduce network congestion and increase TPS. ETH plans to become a major player in the internet of the future with Web3.0. That’s why he needs to increase his TPS significantly. It can handle 1,280 TPS even after sharding, which can jump to 7,000 TPS with Polygon.
