If we look at the crypto market on Sunday afternoon, we see slightly changed prices. Global cryptocurrencies are trading slightly higher, rising 0.4% overall. There are controversial discussions in the background about whether we see a long-term bear market, or whether cryptocurrencies will soon rise again.
Bitcoin is currently struggling at the $ 30,000 mark. The second most valuable cryptocurrency Ethereum had to let the 2000 US dollars go for the time being. Solana fell particularly sharply in the top 10 cryptocurrencies last week. Here, SOL lost value in the double-digit area.
In the following article, however, we will look at five altcoins that crypto-influencers currently consider to be worth buying. Whether or not you fear falling prices in the short term, there are also coins that are promising in the longer term. For according to historical evidence, a crypto winter or bear market is always followed by bullish market movements.
Here are five exciting altcoins that crypto-influencers identify as having significant upside potential.
Lucky Block (LBLOCK)
To assess the far-reaching potential of the new cryptocurrency Lucky Block, investors should take a step back. For there is no doubt that the latest price trend is not convincing. LBLOCK lost about 25% over the past week after making a profit. Nevertheless, the old trend lows have not yet been reached.
However, the basic development of the crypto project, which is dependent on megatrends in gaming, metaverse and NFTs, is encouraging in the long run. Because Lucky Block completed the start of the draws last week. Two participants became cryptomillionaires from one day to the next. The draws were transparent and can be traced via Binance Smart Chain.
But the Lucky Block draws were only the first step on the roadmap for the new cryptocurrency. For from next week, the daily draw was to start, where at least 10,000 US dollars will be distributed. At the same time, work is being done in the background on play-2-earn games and a crypto-game platform. It seems that several price drivers are still waiting for us. YouTuber “Jacob Crypto Bury” also sees it this way:
2. DeFi Coin (DEFC)
The past week has been marked by profit-taking at DeFi Coin. The price lost about 15% of its value. On a monthly basis, DEFC is now down about 20%. But in the last six weeks, the Defi coin has tripled in a rapid price increase. Since the middle of last week, however, there has been a consolidating price movement, with DEFC recently staying constant above $ 0.30. Correction may be over.
At the same time, the DeFi coin is a cryptocurrency that promises great potential in the long run. Because the developers themselves state that DEFC is primarily intended for long-term investors. These could benefit from the gradual establishment of their own DEX DeFi Swap. This is similar to YouTube Jacob Bury and currently attributes a 10x potential to the DeFi coin.
The cryptocurrency Cardano has been firmly entrenched in the top 10 in the global crypto market for quite some time. Nevertheless, the latest price trend leaves much to be desired. In the past month, the ADA coin lost about 30% in value. That’s more than 80% below the highest level ever. This is primarily due to a weak mood throughout the digital currency market.
Because experts and crypto-influencers continue to see a strong future potential and a solid market position in the network, which is dependent on further development through scientific reviews. For example, crypto influencer Aleksandra Huk (@HukAleksandra) recently commented positively on Cardano.
#Cardano actually works, is eco-friendly, decentralized, has unlocked staking and blockchain is never ‘stopped’, do not hate … just get over to the easy side.
– Aleksandra Huk (@HukAleksandra) June 3, 2022
In a tweet on Friday, she refers to Cardano’s future prospects and places the ADA token as opposed to the Solana network, where the blockchain was last stopped again.
“Cardano actually works, is environmentally friendly, decentralized, has unlocked staking and the blockchain has never stopped”
The Avalanche cryptocurrency has been weaker than the overall market in recent weeks. The crypto-crash and the Terra disaster apparently hit the Layer 1 blockchain, whose original token AVAX lost about 60% of its value in just one month.
However, this should not hide the fact that Avalanche has positioned itself as an ultra-fast competitor to Ethereum in less than 1.5 years. The basic development is more than satisfactory over long distances. This is also repeatedly pointed out by crypto-influencers, such as states that Avalanche already ranks fourth in the Layer 1 networks in terms of staked value:
Inserted value according to protocol#Ethereum #Solana #Cardano #Avalanche #Polka prik #BNB #NEAR #TRON #Algorand #polygon #tezos #phantom #NakedCryptoData #blockchain #krypto pic.twitter.com/rNd8R7NQGj
– Naked cryptodata (@NakedCryptoData) June 1, 2022
Stepn (GMT) has been selling off strongly in recent weeks. The GMT coin was undoubtedly one of the winners of the current cryptocurrency year. But a hacker attack, Ponzi accusations and the withdrawal from China put the new cryptocurrency to the test. Quite a few experts referred to the lack of sustainability in Stepn’s move-to-earn concept. The exchange rate crashed and the GMT coin lost 65% of its value in one month.
Nevertheless, there are some crypto-influencers who now identify the cryptocurrency Stepn, which even fell below the US dollar mark over the weekend, as a promising investment. Crypto-influencer “Crypto Nawaz” (@CryptoNawaz) pointed to a double-bottom pattern on Sunday, suggesting a possible upside.
– Crypto Nawaz @ (@CryptoNawaz) June 5, 2022
On the other hand, after analyzing twenty tweets, crypto-influencer Crypto.Edgar (@CryptoEdgar_) concludes that Stepn could survive a potential bear market.
It is one of the projects that seems to be properly positioned to potentially survive the bear market and be long-term profitable and sustainable
As always: Never invest more than you can afford to lose.
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– Crypto.Edgar (@CryptoEdgar_) June 2, 2022