Top Altcoin Poised to Outperform This Week as Crypto Bull Run Starts
21 May 2024
The video in question is a recent one from Crypto Banter, which focused on the evolving landscape of altcoin investments and the detrimental impact of venture capital on new token launches. The discussion also revealed that venture capitalists often artificially inflate crypto valuations, which diminishes the appeal of new tokens for retail investors. Additionally, the video provided insights into several potential altcoins that could experience significant growth, particularly if the Ethereum ETF is not approved.
Problems with VC-Backed Tokens
Crypto Banter hit VCs for pumping token prices before they launch. Earlier, new tokens were funded between valuations of around $20-30 million. Now, those valuations cross more than $1 billion even without the retail investor getting the option to acquire shares. As a result, such deals are bleeding due to the hefty top class being paid through retail investors paying later. For example, StarkNet crashed by 74% after having a $1 billion valuation, as almost no one wanted to buy.
Recommended Altcoin Picks
To combat the risks of these VC activities, several more high MC/ FDV-ratio altcoins went as follows. This shows that solid per capita use of their tokens has already been achieved, keeping the risk of sudden supply inflows in check. These could be the followers to perform well, especially if they are rejected an ETF for Ethereum.
Solana (SOL)
Solana (around 78 % of all tokens in circulation, strong belief backed with its almost unparalleled ecosystem and technical slings)
Near Protocol (NEAR)
Near Protocol stands as a straightforward option. With 90% of near tokens in flow, it is well seen to eliminate the extensive value drops.
Fantom (FTM)
However, Fantom is unique because it offers a high-speed side chain for Ethereum, and it just completed its Sonic upgrade. It provides an attractive investment as nearly all of its tokens have been put into circulation.
Injective (INJ)
Injective is a known innovator and market leader, making it an excellent call for investors who seek to avoid VC-controlled projects.
Avalanche (AVAX)
Exploring the market cap of Avalanche and the percentage circulating supply makes Avalanche relatively more stable.
BNB (BNB)
While not consistently a top-played type of coin, BNB is still trending on the upper side, with some bullish trend lines showing up, making it one to watch.
Arweave (AR)
Most attractive to me is Arweave, with 100% of its tokens already in circulation. The example of Filecoin, which it recently outperformed, also indicates this potential.
Polkadot (DOT)
Polkadot – 94% of its total supply is out, and with the recent tech upgrades, it looks pretty enticing as an investment proposition.
With so much uncertainty in the altcoin market, investors should focus more on tokens with high circulation and/or more solid fundamentals. The time-stamped video covers Solana, Near Protocol, Fantom Project, Injective, and Avalanche, as well as BNB (Binance), Arweave, and Polkadot, among other altcoins with fewer chances of falling under heavy VC influence.
Feel Free To Contact Us
- info@bitchaininsider.com
