The pandemic has been crucial for the crypto market. During this time, the cryptocurrency market was flooded with individual investors. However, with multiple headwinds at their backs, Bitcoin and other promising projects have reached historic highs. Although Bitcoin and the market as a whole have fallen, analysts see potential in these altcoin projects.
7 Altcoins from the analyst list that can be bought instead of Bitcoin
- Cardano: Hydra plans to double its scalability and speed with the update .
- Polkadot: Rebuilt from the ground up to support Web3.
- Avalanche: Deflationary system encourages bulls for AVAX price.
- Ethereum: Fusion will take ETH to a whole new level.
- Solana: Integrates with all industries with over 65,000 transactions per second.
- Dogecoin: Inspirational community keeps meme coin on the attack.
- Decentraland: Real world partnerships and a growing user base could push MANA up the crypto rankings.
There are many cryptocurrencies, but according to analysts, it is perhaps the best place to invest . A good cryptocurrency is Cardano (ADA). Cardano is poised for an ascent that could potentially handle one million transactions per second soon. The company reached an important milestone last year with the implementation of its smart contract functionality. The Alanzo upgrade allows developers to build decentralized applications (dApps) directly on the blockchain. There are currently over 2,000 smart contract scripts on Cardano.
With the Hydra system implementation, Cardano can process 1,000 transactions per second per pool. ADA is already working on the highly efficient PoS concept and new updates like Hydra will help increase speed and scalability.
Polkadot (DOT) is a blockchain protocol designed to create multiple interoperable blockchains to effectively communicate with each other. The developers plan to eventually build a fully decentralized network. Web3 is at the heart of Polkadot’s growth story.
The upcoming phenomenon will allow developers to create more interactive experiences and have more control over their content. With the Web3 revolution in full swing, analysts expect Polkadot to make a splash.
Avalanche (AVAX) is a leading decentralized application platform that is significantly cheaper and faster than its competitors. AVAX is characterized by its deflationary design and allows the price of AVAX to increase over time. The processing speed is quite high at 4,500 per second.
Smart contracts can be adapted to Avalanche, which is likely to increase development efficiency through higher user demand. Avalanche’s platform burns transaction fees and effectively removes cryptocurrencies from circulation. It increases scarcity relative to the market, effectively increasing its price.
Arguably the largest project in the crypto market, Ethereum (ETH) can offer products that touch the real world. It is the most widely used network for DeFi projects and NFT markets. It currently accounts for over 50% of the DeFi market share.
The main issue in ETH’s bull state is its slow speed compared to other blockchains. Its developers are trying to figure this out, and the network is shifting to a PoS model, which greatly increases speeds and reduces transaction costs. The “merger” could happen by the end of this year or early 2023. Therefore, ETH could enter a bull run around this time.
While Bitcoin was hitting historic highs in 2021, Solana (SOL) was a booming smart contract platform. Despite the current decline, SOL has gained over 1,000% since early 2021. Its success has a lot to do with peak transaction speeds of 65,000 per second.
Also, his latest project is called Solana Pay, a decentralized payment system. The energy efficient system ensures transactions take place instantly at a fraction of a cent. With Solana Pay, SOL has become an even stronger payment currency. Diversity allows the coin to thrive in a variety of fields, potentially competing with giants like Visa (NYSE:V). Solana has a war chest of equity fund startups, a truckload of apps, incredible scalability, and a passionate community dedicated to taking cryptocurrency to new heights.
The influx of retail cryptocurrency investors in early 2021 has taken multiple coins to new heights and spurred DOGE into action. Its price skyrocketed last May, gaining over 10,000% in value. Since then, the meme coin craze has quickly faded and taken its toll on DOGE. However, the token has a community and public image that effectively makes up for its key shortcomings.
Some of the biggest names in finance are behind Dogecoin, including Mark Cuban and Elon Musk. Also, many companies offer Dogecoin and other cryptocurrencies as payment options. The current macroeconomic climate has ruined more speculative offerings, but analysts believe Dogecoin could rally once these conditions pass.
Decentraland (MANA) is a 3D virtual reality world where users can buy digital properties with crypto. It focuses on building partnerships in the real world and allows its users to interact in an integrated virtual environment. It is built on Ethereum and has a growing virtual economy based on the development and monetization of gaming experiences on the network. Also, unlike other Metaverse projects, Decentraland is a decentralized autonomous organization (DAO). It allows users to use their MANA to vote on various issues in the development of the network.
Cryptokoin.com Decentraland attracts many real partnerships with companies like Samsung. It also hosted Metaverse Fashion Week on the platform for the first time, with more than one brand attending the historic event. Therefore, MANA has enormous potential in the crypto scene.