2022 has proven to be a surprisingly disastrous year for the cryptocurrency market. We only saw deadly crypto market crashes in the first half of the year. Investors haven’t forgotten Terra (LUNA) yet. There was also another crypto crash, triggered by the crypto lending platform, shortly after. In this article, let’s look at which altcoin projects Bitcoinist analysts follow, apart from well-established cryptos like Bitcoin and Ethereum.
These 5 altcoin projects require close monitoring
eCash (XEC)
eCash (XEC) offers various features such as decentralized management staking. Avalanche is a consensus protocol designed to increase blockchain security while simplifying future network upgrades. The platform also allows creating custom names, items and tokens. With XEC powered by Avalanche, users can experience innovative cryptocurrencies simply and securely.
eCash, which combines the core technologies that make Bitcoin successful with PoS and protocol management, is also among the popular projects. With a market capitalization of over $762 million, it is among the world’s 60 largest altcoins.
Quant (QNT)
Quant (QNT) automates trust between multiple Blockchains with the help of the Overledger operating system. This system is the first operating system created for Blockchain. It also scales networks globally without interoperability. The sole purpose of this network is to connect.
Overledger represents the essence of building the digital economy ecosystem of the future. It allows developers and businesses within it to create MAPs for their customers. As a result, participation in Overledger is only guaranteed if used as Quant to pay fees or licenses.
Nexo (NEXO)
NEXO is the core of the Nexo based system. Its core activity is the provision of instant loans backed by cryptocurrencies. Launched in April 2018, the platform is offered in fiat currencies. In particular, the project offers innovations for crypto credit. NEXO aims to introduce the model that makes it easy to obtain cryptocurrencies that do not rely on credit score checks.
However, users can deposit backed altcoins/tokens into their Nexo wallets and get instant cash credits. The system is designed to be automatic, flexible and a way to support customer liquidity through cryptocurrencies. It supports over 20 cryptocurrencies, including popular options such as Nexo (NEXO), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA) and Monero (XMR).
vomiting (KSM)
Kusama (KSM) is Polkadot’s public pre-production environment. It also allows developers to try and test new Blockchains or applications before releasing them to the network. Essentially, Kusama (KSM) is The Sandbox (SAND) for developers who want to evaluate early versions of the Polkadot (DOT) project, but the actual cryptocurrency is traded on the open market.
The developers also tested it on Kusama before the official Polkadot upgrade was released. Meanwhile, since the main use case of the project is to facilitate testing, Kusama aims to give developers more flexibility in completing the design of Polkadot projects. It also offers looser rules than Polkadot (DOT), including less stringent parameters.
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