Cryptocurrencies have not yet exited the bear market they entered. However, analyst Cheeky Crypto, a cryptocurrency-focused Youtube Channel, is checking whether 5 altcoin projects can survive this bear market.
First altcoin project Ripple (XRP)
XRP is the native cryptocurrency of products developed by Ripple Labs Inc, a cryptocurrency payment system. XRP allows users to send money at a very low cost, attracting the potential interest of both retail customers and banks. An important value proposition of Ripple is to offer sub-five seconds of transaction certainty with low transaction costs. According to the analyst
“This project has great technology and a great use case,” the team is solid and the reason it didn’t make it to the top 10 is because it’s in the process of investigation between the SEC and Ripple. The analyst notes that payment ways are broken, but Ripple could definitely have the opportunity to fix these issues. Therefore, according to the analyst, this altcoin project will survive this bear market. XRP is trading at $0.5136, up 1.94% and is at number 6 by market cap.
The second altcoin mentioned in the list, Elrond (EGLD)
Elrond is a Blockchain protocol that aims to offer extremely high transaction speeds using sharing. The project describes itself as a technology ecosystem for the new internet that includes fintech, decentralized finance and the Internet of Things. The smart contract execution platform is reportedly capable of 15,000 transactions per second, six seconds of delay, and 0.001 transaction costs.
“There is no real risk to Elrond,” says the analyst, stating that he has great financing. “They are doing great in terms of payouts,” the analyst said. This is a great project that will do well. This project also has a really good team, great technology and use cases.” EGLD ranks 36th and is changing hands at $107.56, up 0.12% even in the bear market.
The next altcoin on the list is Quant (QNT)
Quant launched in June 2018 to connect blockchains and networks on a global scale without reducing the efficiency and interoperability of the network. was also released. The first project to solve the interoperability problem through the creation of the first Blockchain operating system.
According to the analyst, it is an interesting project with great tokens. “It will be really good and people should definitely spend some time researching this project,” the analyst says. QNT ranks 71st by market cap and is trading at $73.26, down 5.02%.
The next project that can survive is Zilliqa (ZIL)
Zilliqa, which you can learn in detail from this article of Kriptokoin.com, has the ability to complete thousands of transactions per second. A public, permissionless blockchain designed to offer high throughput. It aims to solve the problem of blockchain scalability and speed by using sharding as the second layer scaling solution. The platform hosts many decentralized applications.
Analyst thinks the risk-reward ratio is really positive for this particular project. The analyst states that this project will be really good and strong enough to survive the bear market. ZIL currently ranks 72nd by market capitalization and is up 3.45% for $0.06894 changing hands.
Harmony (ONE) is at the end of the list
Harmony is a Blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to renew the way decentralized applications work by focusing on random state sharing, which allows blocks to be created in seconds.
According to the analyst, the community is truly passionate and ultimately the team is strong enough to survive even the bear market. “This is why team is so important when you look at projects,” says the analyst, that a company or project needs a strong team to push the market challenges forward, and it’s what helps a project survive even in a bear market. ONE is changing hands 0.51% at $0.06251 and ranks 80th by market cap.
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