As we bid farewell to the fourth month of 2023, the crypto market remains in flux. The recent approval of the MiCa law in the European Parliament will bring a new era of crypto regulation and leave investors uncertain about where the market will head next. According to cryptocurrency experts, there are opportunities for many altcoin projects at $1 and below. With that, leading analysts shared cryptocurrencies worth watching in May! Here are the details…
These altcoin projects may explode in May!
Cardano (ADA)
Cardano (ADA) has been attracting the attention of investors lately. In April, Cardano whales or large owners invested in the coin and bought ADA for over $200 million. Despite falling 12 percent in the last seven days, experts believe the current correction could signal a retest of the uptrend before ADA creates an inverted head and shoulders pattern. Cardano’s chart shows that the current price of $0.384 is a good buying opportunity and the coin could potentially rise in the coming weeks.
Polygon (MATIC)
Popular altcoin Polygon (MATIC) is currently one of the most popular layer-2 blockchain projects. The MATIC price is currently just under $1, at $0.99. The coin is down 10 percent last month and 38 percent from its 1-year high of $1,542 in February. While MATIC’s continued downtrend is worrisome to some, the current chart points to a good entry price for many investors looking to accumulate in the top 10 cryptocurrencies.
Phantom (FTM)
The next-generation Layer-1 DeFi (Decentralized Finance) platform has made quite a splash since it introduced a new mainnet upgrade that promises to speed up P2P (peer-to-peer) and block processing times by 30 percent, as well as scale the network to process files and search logs faster. . Since the beginning of the year, FTM has gained more than 100 percent despite losing 22.8 percent last week and is currently trading at $0.4185. Looking at the chart, it should be noted that FTM reached a 10-month high of $0.633 in February, suggesting that the price may move again in the coming months.
Flow (FLOW)
Flow, the popular altcoin project created by Dapper Labs, is a decentralized Layer-1 blockchain primarily used for non-changeable tokens (NFTs) and Web3 games. The network is expected to be upgraded on May 6, making it more scalable and efficient. Despite the overall downtrend of the past week, FLOW coin has shown more resistance than the rest of the market. Down just 4.15 percent in the past month, FLOW is priced at $0.921, just under $1. According to the chart, the FLOW trendline seems to be weakening and a possible bullish breakout is expected soon.
VeChain (VET)
Layer-2 blockchain project VeChain recently announced the launch of VORJ, VeChain’s Web3-as-a-Service platform, which promises to bridge Web2 and Web3. VeChain is one of the most energy efficient blockchains to date. VET is currently trading at $0.021, making it the cheapest buy on the list. According to experts, with both 30-day and 90-day performance down 4.15 percent and 5 percent, respectively, VET could be a cheap opportunity for investors looking for a promising project.
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