Experts have named cryptocurrencies that may show high returns in the coming months against the backdrop of a recovery in the digital asset market
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On September 6, the price of bitcoin for the first time since mid-May exceeded $ 52 thousand. Against the background of the growth of the first cryptocurrency, altcoins are also becoming more expensive. For example, over the past week, the cost of Ethereum increased by 22% and reached $ 4 thousand. Over the same period, the Ripple (XRP) rate increased by 21%. Topplabs.org experts have identified altcoins that may grow significantly by the end of this year.
The altcoin market has not yet exhausted the growth potential that the cryptoindustry has managed to accumulate in the past and this year, says Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service. According to him, against this background, one can expect the growth of individual altcoins and an increase in the capitalization of the alternative coin market as a whole.
The expert does not expect strong growth this year, since the growth of bitcoin hinders this. Soshnikov recalled that the rapid soars of altcoin quotes are observed in the conditions of the sideways movement of bitcoin.
“Growth has resumed, and a new powerful wave of Bitcoin growth is expected in the fall, so market participants are unlikely to choose to leave a reliable asset in order to enter more risky alts,” the expert explained.
What tokens to invest in
The tokens of the blockchain platforms NEO , Tron (TRX) , EOS and VeChain (VET) are promising at the moment, says Viktor Pershikov, lead analyst at 8848 Invest. According to his forecast, by the end of this year, these tokens may show a yield of 50-100%. The analyst also recalled the sector of anonymous coins ( XMR , Dash and Zcash ). According to Pershikov, this sector is clearly lagging behind the dynamics of the entire crypto market and by the end of the year will begin to catch up with it.
Growth by the end of the year will still be shown by the Cardano project, which is preparing for the implementation of smart contracts, and other similar projects, for example, Solana and Polkadot , Soshnikov says. According to him, attention should also be paid to the Uniswap decentralized crypto exchange token, which is under pressure and is undervalued due to the investigation initiated by the US Securities and Exchange Commission (SEC) against the trading platform.
On September 12, the Alonzo update will take place on the Cardano network, which will add support for smart contracts to the blockchain. This will allow developers to build decentralized applications (dApps).
Financial analyst at Currency.com crypto exchange Mikhail Karkhalev advised to pay attention to Ripple (XRP) and Dash , which have not yet renewed their all-time highs this year, despite the growth of the crypto market.
Should we expect the recovery of all altcoins?
Not all altcoins, which were actively rising in price in the spring, will strive to renew the highs again this fall, Pershikov warned. Soshnikov also agreed with him, adding that the altcoin market is not a mass of monotonous coins, but a "constellation" of several thousand unique blockchain projects.
“Some will logically grow, some will stay at the same level, and some will collapse and disappear from the horizon,” explained the director of the cryptocurrency exchange service Alfacash.