Not every newly launched cryptocurrency may be successful in the medium and long term. Crypto expert Elmaz Sabovic evaluates some of the most promising altcoin projects in the crypto space based on their performance. The expert states that these projects attracted great interest from early investors. Additionally, he chooses 3 altcoins from different niches that he deems worth investing in.
In first place is the meme coin Pepe (PEPE).
As you follow on Kriptokoin.com, Pepe (PEPE) entered the market in the second quarter of 2023. Additionally, it has quickly emerged as one of the leading altcoin projects in the meme coin ecosystem. In early June 2023, when Pepe first appeared on CoinMarketCap, its price was around $0.0000001. However, as of today, Pepe’s ROI since launch is approximately 15,640%.
Standing out with his deflationary mechanism and tax-free policy, Pepe’s rise can be attributed to his unique characteristics. The constant reduction in total supply thanks to a consistent token burn sets it apart from others. At the time of writing, PEPE was trading at $0.000001564. This represents a price decrease of 3.40% in the last 24 hours. However, PEPE recorded a significant increase of 42.95% in the last 7 days. Moreover, according to the latest data, it added 32.18% to the previous month’s value.
Pepe 30 day price chart. Source: CoinMarketCapSecond ranked altcoin: Sei (SEI)
Sei (SEI) entered the crypto world in August. The project quickly gained momentum thanks to its emphasis on speed and minimum transaction costs. With the addition of USD Coin, the network is now positioned for potentially faster growth. On November 15, layer-1 Blockchain Sei announced a major integration with Circle’s USDC stablecoin. It also marked the latest positive development for the platform. Circle’s investment enables the seamless integration of leading stablecoin USDC into the Sei Blockchain. This strategic move will significantly increase Sei’s capabilities and appeal, especially in decentralized finance (DeFi) applications.
At the time of this writing, the altcoin has seen a decline of 3.73% in the last 24 hours. As a result, it was changing hands at $0.2799. SEI gained 5.39% over the previous 7 days. Besides, there has been an impressive 128.41% increase in price in the last 30 days.
SEI 30-day price chart. Source: CoinMarketCapSui Network (SUI) comes in last place
Sui (SUI) burst onto the scene in May. The altcoin blends the native programming language Move, parallel transaction processing, and a delegated proof-of-stake consensus mechanism. Thus, it aims to increase its scalability while maintaining security. Thanks to the collaboration with SxT’s data warehouse and zk-proof tools, Sui developers now have the opportunity to effortlessly access off-chain data. Thus, collaboration enables the creation of next-generation decentralized applications (dApps) with unparalleled security and analytics. This partnership attracts innovative developers to leverage Sui’s capabilities. In this way, it gives clues about exciting developments.
Total value locked (TVL) recently surpassed $170 million, according to data from DefiLlama dated December 6. Given the significant growth potential and only 528 million tokens currently in circulation out of a total supply of 10 billion, the upward momentum in SUI’s rally makes sense. Sui Foundation owns 50% of ecosystem development, early contributors own 20%, and 30% belong to the community. Experts expect limited supply to contribute to SUI’s continued rise as adoption expands. The altcoin is currently changing hands at $0.6176. This represents a decrease of 1.82% in the last 24 hours. The token is up 16.10% over the last 30 days, with gains reaching 4.79% on the weekly chart.
SUI 30 day price chart. Source: CoinMarketCapThe opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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