Several altcoins have already performed well over the past six weeks. Experts have named cryptocurrencies that can repeat their dynamics in the coming months
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Over the past month and a half, many altcoins have managed to significantly rise in price against the background of the recovery of bitcoin to $ 50 thousand. For example, the price of Cardano has increased by 72% since the beginning of August. This allowed the digital coin to become the third in the list of the largest cryptocurrencies in terms of capitalization. The cost of the Solana token has increased by more than 300% over the same period. Topplabs.org experts have named cryptocurrencies that can repeat such dynamics in the coming months.
First of all, crypto investors should pay attention to Ethereum, recommended the head of the analytical department of AMarkets Artem Deev. He recalled that over the past two months, fundamental changes have taken place in the blockchain of the largest altcoin by capitalization, which will lead to a significant rise in the price of the asset this fall.
In early August, the London update was released on the Ethereum network, which activated the token burn mechanism. On September 4, for the first time in the history of Ethereum's existence, the emission of altcoin became negative . During this day, more digital coins were burned than new ones were issued. Already on September 16, the value of the destroyed Ethereum tokens exceeded $ 1 billion.
Deev also expressed confidence that Cardano will show significant growth by the end of this year. According to the analyst, the release of the Alonzo hard fork, which took place on September 12, will positively affect the altcoin quotes. The update added support for smart contracts to the Cardano blockchain and the ability to create decentralized applications (dApps).
"The new opportunities will make the Cardano blockchain a potential competitor to Ethereum," Deev emphasized.
Development under pressure
When predicting the growth potential of the crypto market and individual digital assets, it is necessary to take into account the pressure of the supervisory authorities, which has increased recently, noted Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service. He recalled the threats of the US Securities and Exchange Commission (SEC) against the crypto exchange Coinbase, as well as the regulator's investigation against the Uniswap decentralized exchange.
“Regulators are showing interest in crypto exchanges. Against the background of attempts to form a legal framework for digital asset-oriented trading platforms, their native tokens may also be at risk, ”Soshnikov added.
Despite the pressure from regulators, some segments of the cryptoindustry may grow many times over in the near future, says the director of the cryptocurrency exchange service Alfacash. In his opinion, the Polkadot project is considered promising at the moment, which solves the important problem of blockchain interoperability. The project is led by former Ethereum developers, which opens up great prospects for growth for the token, the expert added.
“These projects are slowly but surely developing, overgrowing with partners and integrations,” the analyst noted.
Karkhalev also mentioned the Solana and Cardano blockchains, which, according to him, are promising in terms of speed, cheap transactions and the ability to deploy new DeFi projects. Uniswap, Chainlink, Polkadot, Filecoin and Chiliz tokens will show more dynamic growth if bitcoin updates historical highs, the analyst added.