As the cryptocurrency space is experiencing a bear market, two crypto analysts have called bullish for six altcoins. 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 analyst drew attention to some altcoins: Hidden gems!
Analyst Lawrence Mike Woriji pointed to four altcoins he thinks have 40x potential. The first altcoin on the analyst’s radar was Lossless (LSS). Lossless claims to be able to detect hackers and bots. So in case of a fraudulent transaction, it will reverse the transfer. Thus, the stolen cryptocurrency returns to its owner. Lossless aims to help its users reduce fraud. The LSS token is used for the following features:
- Staking
- Payment of fees
- Participation in voting
- Reward for users who detect fraud
Also, Lossless uses a two-step approach to recover stolen funds. First, it freezes the hacker’s wallet. Then, a decentralized decision-making body verifies the attack. Lossless uses its community and technology to detect hackers. Thus, users who detect attacks receive a reward as LSS tokens.
According to the analyst, security platforms will see high demand in the coming months. “Rewarding users who detect hacking is a good strategy for growth. Community members will try to make the platform better to earn more rewards. So LSS has the right reason to grow.”
The second altcoin on the analyst’s list: Clearpool (CPOOL)
The number 2 token on the list is CPOOL. According to the analyst, this cryptocurrency could easily be 10x. Clearpool is a decentralized capital markets ecosystem. It provides unsecured liquidity to institutions. There are several lending protocols on the market that you can choose from. But Clearpool has a different approach that makes it worth at a glance. Whitelisted borrowers can open uncollateralized positions.
Projects generally prefer positions that are 150-200 percent over-collateralized. Still, borrowers have to deposit 500,000 CPOOL to open a position. However, they are not subject to market volatility that could lead to liquidation. If you are looking for a long-term investment, CPOOL is a good choice.
Third altcoin: Litentry
The third coin on the analyst’s list is Litentry (LIT). According to the analyst, this coin can do 20x. Litentry is focused on solving the identity problem, as we have also reported as Kriptokoin.com. It connects the user identity across different platforms. Identity is fast becoming a big issue in the blockchain space. Litentry provides decentralized Identity Aggregator services. Thus, it can link user identities between Blockchains like Solana and Ethereum. LIT is built on Substrate. This allows it to take advantage of some of the best technologies in the ecosystem. The project has won the 15th spot in recent parachain auctions.
Litentry also meets the privacy needs of its users. To achieve this, it uses an on-chain confidential data processing feature. Developers and regular users have a chance to profit from Litentry. Developers can take advantage of Litentry’s tools to build applications. Users can also access a data explorer to control their own data. The key partners of Litentry are as follows:
- DeCredit.
- iME.
- PAID Network.
- ontology.
- Standard Protocol.
- Injective.
- cere.
The fourth altcoin on the list: Azero
Aleph Zero operates as a privacy-focused Blockchain. It is designed to increase Web3.0 activities. Aleph Zero offers access to privacy enhancing tools. According to the analyst, developers will find this project useful as it will help them build more robust systems. Aleph Zero provides open access to advanced DeFi features. The project is focused on solving the problems of high price, privacy and congestion. “There are many reasons to have AZERO in your portfolio. While not the next Bitcoin, AZERO can go up to 60x,” he said.
Another analyst drew attention to two altcoins
Sabrina Martins Vieira, another analyst, pointed to Optimism (OP) and The Graph (GRT). While speaking of the OP, the analyst primarily pointed to recent developments regarding the Ethereum network, with which he is closely related. According to the analysis, one of the big stars of the new year may be Ethereum. Because the network will go through The Surge update. However, until the hard fork takes place, ETH needs to compress data from its network so that it can be used more in daily life. According to the analyst, the solutions offered by Optimism can be well received by the Blockchain market and help increase the value of the token ecosystem.
Optimism is an Ethereum Layer 2 Blockchain. This means it benefits from the security of the leading altcoin while offering lower fees and faster transactions. There are already important projects on the platform such as the derivatives exchange Synthetix. Even DeFi’s main decentralized exchange Uniswap uses Optimism’s technology.
Another coin pointed out by the analyst is The Graph. The use of Application Programming Interfaces, APIs is becoming more and more important worldwide. But the biggest problem is that the APIs are centralized with a single point of failure. So, one day you might be using your regular app and your app might stop working as a result of a hacker attack or simply because the owner of the app has decided not to offer the API for free anymore. This would be a big problem because a site can be destroyed simply by closing the API. The Graph was developed to solve this kind of problem. GRT offers the creation of decentralized APIs called sub-graphs.
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