You’ve probably heard before that investors make most of their money in bear markets, not bull markets. There are several reasons for this: Buying low and waiting when altcoin sales increase. Then find promising projects. This will be our focus in this article.
The 5 most valuable altcoin projects of the bear market
A popular analyst has announced the 5 most promising altcoin projects in the bear market. The list is about altcoins, Metaverse, gaming, layer-2 solution, privacy and stock market. Here are the details.
1. Polygon
The first altcoin is the popular Ethereum layer-2 solution Polygon (MATIC). The project holds the title of being the longest-standing sidechain of the Ethereum network. Polygon has a lot of investor trust. The project raised $450 million during the bear market. This means two things. The first is that Polygon gains investor loyalty because it is reliable. Second, it has reserves to help it survive the bear market. The team behind the project recently released a digital identity called “Polygon ID”. This is a development that could allow the project to grow further in the future. Finally, one of the leading zk-SNARKS services in the crypto space of MATIC’s hermez service. SNARKS is known for offering zero-knowledge proofs.
2. Mina Protocol
Mina Protocol, like its other altcoin project Polygon, is in the zero-knowledge proof space. The project uses zero-knowledge proofs (zk) in the Proof-of-Stake network. It also applies zk to its smart contracts. This means that you are the full owner of your data. Mina also holds the title of lightest Blockchain in crypto, using zk-SNARKs to verify chain activity for new users. The whole chain is only 22 kb. Besides, the feature that makes Mina stand out the most is that it offers high privacy to its users. MINA, the native cryptocurrency of the protocol, is used for governance and staking. The altcoin is currently backed by FTX and Three Arrows Capital.
3. Cronos
Cronos is a popular cryptocurrency exchange. The native token of the exchange is CRO. It would be logical to say that as long as people buy cryptocurrencies, the stock market money will definitely rise. The most important feature that distinguishes Cronos from other exchanges is that it is constantly developing. The project will expand into DeFi, NFTs and other services that complement their exchange offerings. It also got approval from a key licensing authority in Singapore and announced a new $100 million acceleration program. Finally, they increase their recruitment. As a result, the price of the exchange’s altcoin asset is likely to rise. At the time of writing, CRO has dropped 80% from November’s high of 96.5 cents to the current 12.5 cents. Accordingly, assuming he’s back to his ATH, that means a 7x rise.
4. Immutable X
Immutable X is the first emerging layer-2 project for NFTs on Ethereum. It is a leader in gaming infrastructure for scaling NFTs. They have a large market for trading gaming NFTs. They support or integrate with many games including Disney, Marvel, Guild of Guardians, Illuvium and more. According to the latest news, the project recently launched $500 million in developer funding. The fund will support the acceleration and development of Web3 games. The platform’s native altcoin asset, IMX, has been hit hard lately. IMX is down 90% from its November high. Thus, it is currently trading at 88 cents. Cryptocurrency will soon have a staking feature. After that, a rise in price may begin.
5. Efficacy
As Cryptokoin.com reported, Efinity provides cross-chain transport of NFTs in the Polkadot network. The project has won Polkadot’s 6th parachain and is working with it. In addition, it has made important moves with its recent announcements. The first is an upcoming esports NFT market. The second is a new wallet. The third is a multi-chain NFT market. With all these innovations on the market, the price of the altcoin asset could be on the rise. At the time of writing, the coin is trading at 15 cents, down 95% from its ATH in August a year ago.
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