With thousands of altcoins circulating in the market, crypto investors can easily miss the next 100x coin because it is not on their radar. This is often not the investor’s fault as it can be difficult to keep track of so many coins. As a result, a sentiment analyst has presented a total of 6 overlooked altcoins that may be ready to rally.Thank you for reading this post, don't forget to subscribe!
Crypto Analyst Presents Altcoins Using Network Activity
As pointed out by the crypto analyst in the Sentiment post, the mentioned altcoins were chosen due to their increase in network activity. These tokens have been able to stay under the radar, but their activities have attracted attention, including transaction volume, network growth, and large transaction numbers, among others.
“Additional juicy opportunities lie in projects that have not seen any significant price declines recently, yet have experienced network growth, or whale transactions and accumulation.” He further said that these projects “are likely to have at least some increased volatility due to additional activity that has not been present on their respective networks for some time.”
1 – Bancor (BNT) emerges on top of altcoin list
As mentioned in the post, Bancor Network, a permissionless protocol that complements open-source DeFi protocols, has seen a significant increase in its network metrics. This spans high transaction volumes, active addresses, network growth, whale transactions, exchange flows and age burn (consumption). This could be a precursor to a rise in BNT price.
2 – Cartesi (CTSI)
Application-specific rollup Cartesi Network which features a Linux runtime has also seen an increase in metrics similar to Bancor which may indicate growth in its native CTSI token. As mentioned in the post, this also includes “high transaction volume, active addresses, whale transactions, age burn (consumption).”
3 – Holo (Hot)
Holo (HOT) allows peer-to-peer (P2P) applications on Holochain and has joined this list primarily because of its whale transactions. The sentiment post shows an increase in whale accumulation among addresses between $100,000 and $1 million, as well as higher whale transactions, exchange flows and age destroyed (consumption).
4 – PowerPool (CVP)
The PowerPool (CVP) protocol is a governance-facing protocol that has seen similar trends to Holo (HOT) above. Like Holo, the whales have amassed fortunes ranging from $100,000 to $1 million. “High active addresses, network growth, $100K-$1M whale accumulation, age lost (consumption),” the analyst writes.
5 – STORJ
The STORJ project is a project that aims to provide clean storage services, allowing organizations to reduce their cloud storage costs while also cutting their carbon footprint. But this under-the-radar altcoin has made it to the list. As shown in the chart, analysts point to “high transaction volume, active addresses, network growth, whale accumulation, age destroyed (consumption).”
6 – UniLend (UFT)
UniLend (UFT), a protocol that offers all decentralized finance (DeFi) trading in one place, making them accessible through smart contracts, has also seen a surge in activity. Coming in as the sixth altcoin on the list, UniLend’s growth spans “high transaction volume, active addresses, network growth, whale transactions, $100K-$1M whale accumulation, exchange inflows.”
Altcoins: Be careful with these cryptos
Although these assets have seen a significant increase in network activity, the crypto analyst warned that “It appears that 4 of these 6 highlighted projects are likely to get hot network activity due to price increases. The other 2 For, there is no guarantee that the pump is around the corner.
However, as always, crypto investors are urged to “make your own assessment, researching these and many other projects that show similar hot network activity on this model in the coming weeks.”
Total market capitalization $1.045 trillion Source: Crypto Total Market Cap on Tradingview.com
Featured image from Busha, chart from tradingview.com