According to Crypto technical analyst, founder and CEO of Birb Nest, Adrian Zduńczyk, there are some altcoins that are due to outperform bitcoin in a "legendary" way. Many other crypto experts are expressing their growing belief in a probable 10 to 100 times surge in some altcoins' prices.
This, along with the fast rate of the advancements accomplished in the blockchain technology, is what led me to increase my efforts searching for prospects that could fit this optimistic view of the cryptocurrency market.
So, I put the pedal to the metal and started exploring and analyzing altcoins. To try to be as thorough as I can, in the hopes of finding good opportunities, I included the main three aspects of an exhaustive analysis: Fundamental analysis, technical analysis and sentiment analysis. This is a great way to cover the majority of the information gathered and help give me some good insights into what cryptocurrencies I should go with.
And, today, I'm going to briefly present to you the altcoins that I believe hold the most potential of being a good investment.
1. Pirate Chain ARRR
With a market cap of $620,583,518 and a 3,230% total growth return in a little over 2 years, Pirate Chain is a relatively new player that has been making some splashes, lately. It's a security and privacy cryptocurrency that came from Discord. Its main goal is to present an alternative to Bitcoin's non-fungibility issue.
One of the main drawbacks that Bitcoin had when it first launched was the fact that it made illegal activities easier to engage in. to solve that problem, blockchain projects started developing technologies that allow to identify criminals by matching their wallet addresses with records on the public ledger. Which helps a lot in limiting illicit activities. However, it also hurts investors on the receiving end of the transacted Bitcoins. Because they were not aware of their cryptocurrency's history.
Pirate Chain ARRR's model have a blockchain public ledger and rely on the ZK-Snarks' technology that can shield 100% of the peer to peer transactions on the blockchain. This allows users to send and receive money at ease and in total privacy.
On top of that, ARRR uses a delayed proof-of-work consensus mechanism and have transactions notarized on their native platform, on the Komodo blockchain, as well as on the Bitcoin network. This leaves hackers with only one solution, if they want to access and modify ARRR's ledger. A simultaneous 51% attack against the ARRR, Komodo, and Bitcoin blockchains. Which would require an astronomical amount of hash rate.
Recently, after ARRR's price correction had settled down and volatility went back to more moderate levels, the altcoin's value has been steadily rising. And while there are 186,362,701 ARRR in circulation, it's still 13,637,299 ARRR away from its max supply.
2. OMG Network OMG
OMG is the rebranded version of OmiseGo. Its Mainnet release was on the first of June 2020.
Enya, which is the core contributor and strategic partner of OMG, has recently launched Boba Network. It promises to process a huge number of transactions every second and at a fraction of the cost of what the Ethereum blockchain offers.
Boba Network is described as a "layer 2 solution". Which is referring to various protocols that improve the scalability of the existing blockchain. This will make the payment processing speed of OMG Network much faster to the point that it could rival Visa's. The partnership with Enya combines its privacy and security with OMG's payment package, making it a project to keep a close eye on.
Moreover, since the 20th of July of this year, the price of OMG has hiked 111% from $3.17 to $6.69. While being a great distance away from its all-time high of $25.72. This leaves a lot of room for OMG to grow, without risking it being obviously overpriced. This is in parallel to a consistent increase in the trading volume of this asset.
3. Uniswap UNI
Uniswap is an Ethereum-based DApp for exchanging Ethereum tokens through liquidity pools and smart contracts. it's estimated to be the largest DEX and the fourth-largest CEX overall by daily trading volume. In the first half of this year, Uniswap was generating fees in the range of $2 to $3 million daily off of the cryptocurrencies being exchanged.
By the end of August, Uniswap's market cap was $18,656,918,497. It is available on most major U.S. cryptocurrency exchanges and has a lot going for it. There's even suspected potential partnerships with Robinhood and Paypal.
UNI's price has increased significantly since its recent dip below the $15 mark. Now, it's up over 113.42%. its current price is trading at $30.52 as I write this article.
4. Bifrost BFC
Bifrost is a multichain ecosystem platform that presents to developers a panoply of tools and protocols to create DApps. It's not limited to only one blockchain and it offers multiple components that allow for a seamless connection among all of the networks it's hosted in.
What makes Bifrost unique is its superior flexibility. It allows its users to combine blockchains as needed and without any significant restrictions. This helps us come to a very interesting conclusion. Which is that it makes it very scalable.
From the 8th of August, the altcoin has surged by 683.44%. It sits now at a comfortable $0.39, after the price correction that stretched over the last 2 weeks.
There's a circulating supply of 844,434,685 BFC out of 3,968,584,074 BFC, with a market cap of $326,766,787.
With Bifrost we come to the end of my presentation. I tried to share with you my ideas so that it could help you do your own research. So, please, do not take it as financial advice. At the nd of the day you're the only one responsible for your profits or losses. Be careful!
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