A popular cryptocurrency channel, Altcoin Buzz, shared the 5 most profitable altcoin projects amid the decline in this cryptocurrency market. “An overheated market and a good dose of FOMO have taken many altcoins to new heights in the past month or two,” said Altcoin Buzz. Naturally, the fastest rising will probably be the fastest falling. But if there is one thing for sure, it is recovery. Some altcoins will outperform others when the markets rise again, ”he says. Here are the 5 most profitable altcoins in the current bearish market, according to Altcoin Buzz.
Altcoin Buzz: Polkadot (DOT) will be among the first survivors
The first altcoin on the list of the crypto channel is Polkadot (DOT). The Polkadot ecosystem is growing rapidly and the demand for high-speed, low-cost blockchain transactions is higher than ever. “Even with a massive drop, DOT is still trading at 500% higher than in the second half of 2020,” according to Altcoin Buzz.
Moreover, he mentions that the launch of the latest parachain is imminent and that it will provide momentum for DOT. He says that this will make altcoin one of the first projects to come out of the current decline.
Uniswap’s governance token took a hit. However, this could quickly change when the V3 version of the DEX enables Layer 2 scaling, according to Altcoin Buzz.
“If version 3’s growth in line with some predictions and matches the exponential growth we’ve seen between version 1 and version 2, then we’ll really see something,” Altcoin Buzz says. Altcoin Buzz adds that this could happen anytime within the next few months. “The possibility of promoting more liquidity farming could be an important catalyst for future UNI prices,” he says.
Altcoin Buzz: Enjin Coin (ENJ) on the front lines
Enjin Coin (ENJ) is also on the radar of the crypto channel. The strategist says NFTs and games are on the agenda for the crypto industry in 2021 and there is no doubt that Enjin is at the forefront of this space:
Enjin Coin has been around for a long time. It has made solid progress in partnerships and platform development. As such, the ENJ could be an asset to watch.
Number four is the Polygon (MATIC). The platform is a Layer 2 aggregator that supports different L2 technologies. Altcoin Buzz said, “MATIC has been resistant to this recent crash for a long time, even reaching an all-time high. It is impossible to underestimate the demand for Tier 2 Ethereum scaling, and Polygon has gained a lot of attention lately, ”says Polygon in recent months; Various platforms have integrated or partnered with Polygon, including SushiSwap, Infura, mStable, Curve Finance, Aave, Decentraland, and Atari.
Crypto.com Coin (CRO)
Crypto.com (CRO) is at the end of Altcoin Buzz’s lucrative coin list. Coin has evolved from a wallet to a versatile platform serving the entire industry. According to the crypto channel, “Following the mainnet launch in March, the platform has fully entered the DeFi and NFT space with a number of major partnerships, including the New York Stock Exchange (NYSE) and Chainalysis.”
With continued DeFi and NFT momentum by channel, the platform’s CRO token could be raised to new heights when the markets recover.