While dreams of a new bull trend were delayed in May, analyst Emma Newbery maps out how 4 altcoin projects can rally as they prepare for the interesting events planned for the coming days.
4 altcoins and futures to watch closely in May
The Graph (GRT)
The Graph (GRT) is a behind-the-scenes crypto that makes it easy to search for information on Blockchain. Some are calling the project the Google of Blockchains. The Graph was originally published on the Ethereum (ETH) network, now it is supported on other crypto networks such as NEAR Protocol (NEAR), Polygon (MATIC), Binance Smart Chain and Fantom (FTM). The project is gearing up for a big event called Graph Day in June, followed by a three-day hackathon. This, combined with the continuous grant allocation designed to encourage the development and use of The Graph’s ecosystem, makes it a good crypto to watch this month.
NEAR Protocol (NEAR)
NEAR Protocol (NEAR) has had a tumultuous few months. At some points, speculation about the launch of a new USN stablecoin and news of another successful funding round seemed to push its price up.
NEAR is a serious smart contract crypto that is positioning itself as a major player in the emerging Web 3 space. For example, it recently hosted a NEAR Town Hall event that focused on music, entertainment, NFTs and games in its protocol.
Elrond (EGLD)
Elrond is a smart contract crypto that does not grow at the fast pace of Solana (SOL). However, it has recently announced some interesting acquisitions, including a crypto payment firm. It also launched a $40 million fund to support development in the system. According to Lark Davis, whose analysis we shared as Kriptokoin.com, Binance will soon list Elrond on its stock market. This means that tokens built on Elrond’s ecosystem will gain much more visibility and can be a big boost for Elrond.
THORChain (RUNE)
THORChain (RUNE) is a decentralized protocol aimed at providing liquidity for crypto trading without the use of a centralized crypto exchange. It also powers a decentralized exchange where users can exchange cryptocurrencies. It recently launched trading of synthetic assets, which is essentially a way to tokenize and exchange non-cryptocurrency assets. Additionally, it plans to launch lending and borrowing through something called THORFi.
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