For novice and some seasoned traders, putting money into Bitcoin (BTC) has long been considered a safe wager. However, given that BTC is now trading over 15% below its most recent record-breaking price and has experienced multiple significant declines in the past two weeks, it’s uncertain whether or when it will hit new heights once more.
The growth of Bitcoin paused around mid-March, and presently, there’s a greater feeling of pessimism than optimism among investors. As they brace for market instability, some are exploring emerging Bitcoin alternatives to secure their returns.
Although the cryptocurrency market as a whole is unstable and uncertain, including Bitcoin’s post-April halving event, these five under-the-radar coins we’ve analyzed offer promising opportunities for investment.
Choise.com (CHO)
The native cryptocurrency of Choise.com, named CHO, has experienced an impressive 789.5% price increase in less than two months, generating considerable buzz within the crypto sphere. This significant leap can be attributed to several key factors. Initially, Choise.com is planning to shift its focus towards business-to-business (B2B) operations and merge with Vault, a company that specializes in enterprise-level digital banking solutions for cryptocurrencies, developed by the same team. As a result of this union, Choise.ai will be formed – a comprehensive Web3 development ecosystem.
Yet, nothing drives the price of a token further than when there’s something in it for the community. The team also announced that Choise.ai would share up to 20% of Vault’s revenue with CHO stakers via the newly introduced VLT token. Notably, Vault has scored significant results in its first year of operation, closing nearly $20 million in revenue and eyeing the $180 million milestone to be hit by 2025. Initially, VLT will be available to the Choise.ai community only and will not be tradable on exchanges, which once again proves the company’s commitment to rewarding those who have been with them along the way.
Most recently, Choise.ai announced hints of listing their token CHO on an unnamed centralized exchange with significant trading volume. Today, BingX, one of the biggest and trusted centralized exchanges with daily trades approaching $1 billion, disclosed a partnership that will grant access to CHO for its 10 million users.
Making this move could make the asset more reachable and well-known for traders, as well as boost its popularity and ease of buying and selling.
Choise.ai, Vault, and Choise.com are all undergoing various advancements. However, an exciting new feature for Choise.com users is on the horizon: the ability to obtain crypto-linked virtual Mastercard debit cards through the platform. These innovations, along with the upcoming listing of CHO on a major cryptocurrency exchange, could further boost the token’s price.
Dynex (DNX)
Dynex is a innovative platform that employs DePIN technology, allowing miners to perform Proof-of-Useful-Work (PoUW) and quantum computing tasks. Through their DynexSolve program, Dynex applies the power of quantum computing to address genuine challenges in various fields such as healthcare, architecture, and science.
Dynex’s native currency is called DNX, which can be obtained via crypto exchanges or through mining. The surge in demand and price increase for DNX are largely due to the new mining opportunity. Nevertheless, without any significant upcoming announcements, there’s a possibility that DNX’s value may stabilize.
Komodo (KMD)
Komodo provides a flexible all-in-one solution, integrating a decentralized exchange (DEX), non-custodial wallet, and crypto bridge into one platform. Last year marked the shift from AtomicDEX to Komodo Wallet, merging all three services for easier use by developers building Decentralized Finance (DeFi) applications. The team unveiled their 2024 strategy, detailing objectives for each quarter, and have already accomplished most Q1 milestones such as trading platform enhancements and the Komodo Wallet browser extension, with work advancing on NFT Swaps Proof of Concept and HD wallet compatibility.
These promises being kept is what’s driving up the cost of KMD, as crypto communities place great importance on developers who follow through on their pledges. The upcoming plan encompasses interoperability improvements, KMD destruction, and wallet design overhaul, among other things. Nevertheless, if the unmet targets from Q1 2024 persist into Q2, enthusiasm could begin to fade.
Taraxa (TARA)
Taraxa is an advanced ecosystem combining AI functionality and EVM L1 smart contracts. It’s renowned for its speed, affordability, environmental friendliness, and security. Underpinning these features are technologies like blockDAG as the anchor chain and asynchronous PBFT consensus. Furthermore, Taraxa offers impressive transaction throughput of TK per second, eliminating network congestion and ensuring affordable transactions for users.
TARA is a cryptocurrency that powers the entire system, offering a 17.6% staking yield, with 54% of the tokens currently staked. Additionally, network validators have earned 9.2 million TARA tokens so far. Taraxa nodes are easy to run, with 74 nodes currently participating in the consensus on the mainnet. Just the other day, a $TARA airdrop via DappRadar was taking place, and the community was buzzing with excitement. However, caution is advised, as once the airdrop concludes, there’s a chance that those profiting from the price growth may decide to sell their tokens.
Cream Finance (CREAM)
Another Fintech innovation in the DeFi space is C.R.E.A.M. Finance. This lending protocol opens financial services to both institutions and individuals, as well as other protocols. It’s not just about lending though; users can also generate returns on their idle BTC and ETH, functioning much like a conventional savings account.
In early April, CREAM Finance suffered a hack resulting in a loss of approximately $130 million, making it one of the biggest hacks in the history of Decentralized Finance (DeFi). The incident led to a minor decrease in the token’s price, but surprisingly, not a significant one. Despite this setback, $CREAM has been steadily increasing in value over the past few months and continues to show potential for further growth. However, some investors may already view its current price of $47 as overvalued.
Summary
Investing in lesser-known tokens like DNX, KMD, TARA, and CREAM carries the risk of significant gains but also potential losses. Therefore, it is essential to assess the risks linked to these coins meticulously. Among them, CHO exhibits consistent development and ongoing efforts, making it a promising choice for potential price appreciation in the foreseeable future.
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2024-04-18 19:38