The FTX drama continues to move forward and prices are moving sideways. More companies could file for bankruptcy in the coming weeks, according to some experts. Meanwhile, an analyst, Lawrence Mike Woriji, shared five altcoin projects to follow. These cryptocurrencies are traded on Binance. However, before we start the article, it is worth noting that these are only analyst opinions. Every investor should make his investment in line with his own research. Here are the details…
The first altcoin on the analyst’s list: Litentry (LIT)
The analyst explains that they have been optimistic about LIT for some time. Litentry is an identity-oriented platform, as we have also announced as Kriptokoin.com. It is currently trading at $0.7022. Between May and September, LIT gained great awareness creating a double bottom pattern. This often carries bullish effects. Earlier this month, LIT price broke out of the long-term $1.10 horizontal resistance area. According to the analyst, LIT’s impressive rise has not gone unnoticed. The project has gained a lot of awareness in recent days. The analyst points to the following items as a bullish reason for LIT:
- Listed on Binance: Binance has included Litentry in its launch pool this year. And the project is listed on Binance, which influences the price action. Being listed on Binance does not mean success. But that means you have access to millions. Right now, LIT seems to have garnered prime interest.
- It has a good use case: Litentry provides a basic Blockchain solution that solves problems like remittances and cross-border payments. But so far, the identity field hasn’t made much progress. Litentry is working in this area.
Analyst: Huge potential for ROSE
Oasis Protocol (ROSE) is a privacy-focused layer-1 platform. It is also a proof-of-stake smart contract blockchain. Oasis focuses on DeFi and the data economy. It allows its users to control their data. Oasis’ use cases are the main reason why many people are on the rise about it. This project has the following features:
- large workloads
- Fast processing speed
- private lending
- Undercollateralized loans
- Custom AMMs
According to the analyst, Oasis has one of the most impressive technologies on the market. The design of its technology is an aggregation of Polkadot and Ethereum. So, Oasis provides:
- higher scalability,
- lower latency,
- Lower fees.
It also introduced a second tier called ParaTimes. This processes transactions in parallel. It improves the trading volume. The analyst pointed out that he thinks the next bull run will be all about adoption as the first reason he likes Oasis. Thus, projects with relatable use cases will be noticed more than others. Oasis seems focused on building strategic partnerships. One of them is a privacy-focused deal with Meta.
Also, Oasis has another partnership with Equifax. Collaboration focuses on decentralized KYC. Oasis plans more partnerships in the coming months. Oasis has had many partners so far. Among them are BMW, Chainlink, Balancer, a16z, Pantera. Oasis Network is the 129th project with a market value of $233 million. Therefore it has more room to grow.
Moonbeam (GLMR) is pretty busy
Moonbeam focuses entirely on multi-chain. Moonbeam was one of the first crypto projects to receive the DOT parachain. So, they have a solid community. Moonbeam has been pretty busy in the last few weeks. Here are a few events going on in the ecosystem:
- Moonbeam recently hosted Illuminate/2022: The event hosted some of the best guys in the ecosystem. This includes Polkadot Co-Founder Robert Habermeier.
- Moonbeam recently surpassed 1 million unique wallet addresses.
- Foundation Grant has welcomed projects impacted by the FTX collapse.
- Footprint Analytics said it indexes the Moonbeam data. This allows developers to access user activity. And it provides operations with easy-to-use graphics.
- Moonbeam has also made several integrations in recent weeks. Again, these activities can be healthy for the GLMR token. Then, partnerships and activities related to Moonbeam draw attention. They also speculate about a brilliant future for GLMR.
Adoption rate on the rise for Kadena (KDA)
If you believe in decentralization, you should consider Kadena. Kadena was designed for blockchain adoption. Therefore, Kadena believes it has found solutions to the following blockchain problems:
- Scalability
- Security
- decentralization
The Kadena.js team has created a library for Javascript / Typescript users. With this, they can easily interact with Kadena. The team also plans to launch a tool to deploy smart contracts. There are also other announcements that you can find on their page. Apart from that, Kadena stands out with the following features:
- Unique programming language called Pact: Pact is Kadena’s open source programming language for writing smart contracts. Pact helps developers build high-performance logic for transactions. Therefore, Pact’s smart contracts only execute what it is programmed to do. Using Pact, developers can create new business models and onchain services.
- Kadena has an experienced team. You can evaluate the progress of any project from its team. Kadena has some top crypto guys in charge. The best example is Dr. Stuart Haber is one of the important names running Kadena. It has a solid reputation in the industry. And it was mentioned many times in the 2008 Bitcoin whitepaper. Above all, the Kadena team has experience in finance and Blockchain.
Latest altcoin: Alpine (ALPINE)
Alpine is the BEP-20 utility token of the BWT Alpine F1® Team. It was launched on the Binance Fan Token platform in 2022. It was Binance’s third Fan Token Launchpad project. Fan tokens can be used for team-related events. ALPINE is trading at $2.70. ALPINE’s total token supply is 40 million. The team sold 10 percent of the supply during the Binance Launchpad Sale. In addition, ALPINE allows users to enjoy low transaction fees. It has a block time of 3 seconds.
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