Crypto Analyst Identifies 6 Overlooked Altcoins with Potential for a Rally
With the vast number of altcoins in the market, it’s easy for crypto investors to overlook promising coins. To address this, a Santiment analyst has identified six altcoins that have been overlooked but show potential for a rally. These coins were selected based on their network activity, including transaction volumes, network growth, and large transactions.
Bancor (BNT) Tops the List
The Bancor Network, a permissionless protocol for DeFi, has shown significant growth in its network metrics. This includes high transaction volumes, active addresses, network growth, whale transactions, exchange inflows, and age destroyed. These positive indicators suggest a potential rise in the price of the BNT token.
Cartesi (CTSI)
The Cartesi network, which features a Linux runtime, has also seen an increase in metrics similar to Bancor. This includes high transaction volumes, active addresses, whale transactions, and age destroyed. These factors indicate a potential rise in the value of the CTSI token.
Holo (HOT)
Holo is a Peer-To-Peer (P2P) application platform on the Holochain. It has caught attention due to its whale transactions and accumulation among addresses holding between $100,000 and $1 million. Other positive indicators include high whale transactions, exchange inflows, and age destroyed.
Powerpool (CVP)
The Powerpool protocol focuses on governance and has seen similar trends to Holo. It has witnessed accumulation among whales holding $100,000 to $1 million. Additionally, there are high active addresses, network growth, and age destroyed indicators.
Storj (STORJ)
Storj aims to provide cleaner storage services and has made it onto the list of overlooked altcoins. It exhibits high transaction volumes, active addresses, network growth, whale accumulation, and age destroyed indicators.
UniLend (UFT)
UniLend is a protocol that brings decentralized finance (DeFi) trading into one place. It has experienced a rise in activity, including high transaction volumes, active addresses, network growth, whale transactions, whale accumulation in the $100,000 to $1 million range, and exchange inflows.
Exercise Caution with These Altcoins
The analyst advises caution when considering these altcoins. While they have shown increased network activity, it’s important to note that some of this activity may be driven by price pumps. Investors are encouraged to conduct their own research and assessments before making any investment decisions.
Hot Take: Identifying Promising Altcoins through Network Activity
With the abundance of altcoins in the market, it can be challenging to identify the next big opportunity. However, analyzing network activity can provide valuable insights into overlooked coins with potential for a rally. By considering factors such as transaction volumes, network growth, and whale activity, investors can uncover hidden gems in the crypto market. While caution is advised and no guarantees can be made, paying attention to these indicators could lead to lucrative investment opportunities.
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