These 10 altcoins are on their “Pumptential” for a parabolic altcoin season
Popular trader Ben Armstrong unveils 10 altcoins to maximize gains as the market is shaping up to be the most parabolic portion of the current bull run.
#1 First on the list is dYdX (DYDX), the token for the fast-rising decentralized derivatives exchange. According to the trader, dYdX has been around for a while, but the project really did not start taking off till they built a fast and low fee exchange on Ethereum’s layer 2 and airdropped a token to some of its traders.
“The token for dYdX has been on a tear since launching earlier this year. It has remained relatively stable through the volatility we’ve seen in the markets recently.”
#2 Next on the list is FTX (FTT), one of the fastest-growing centralized exchanges that soon plans on launching an NFT platform to bring in even more users.
The FTT token reached an all-time high of around $80 last month and now is consolidating just under $60 after a correction.
#3 Chiliz (CHZ) is the next altcoin, the popular community token that allows fans to connect with their favorite sports teams. Chiliz reached as high as 0.80 earlier this year and is now on a discount at around 0.30:
“The hype has died down a bit for this token, but the team is strong, and they’re carving out a sizable niche for themselves in various sporting leagues. It’s important to note that back in my interview with Raoul Pal, Raoul said that he believes community tokens are ones that are going to see the most parabolic gains in the years to come.”
#4 Fourth on the list is Dash (DASH). Dash was once one of the most popular privacy coins in the early days of crypto. As the trader highlights, the coin found a home in the developing world where it’s used as an alternative currency.
“Dash is especially popular in Venezuela, where the crumbling fiat currency has many citizens taking an interest in crypto.”
DASH was trading at a high of $1,000. However, it’s now sitting around $200. Armstrong believes that Dash has the legs and the fundamentals to be around for a while and could absolutely make big jumps this cycle that leverage traders will enjoy.
#5 Kusama (KSM) is the next moonshot altcoin. Prices for both Polkadot and Kusama have been going crazy due to the anticipation of the parachain auctions taking place in the ecosystem.
#6 Terra (LUNA) has had an incredible year increasing in value by over 11,000% for this year alone. The trader unveils that through its popular CHAI app and other sources, Terra has over 2 million users, many of them living in South Korea, where the network and Squid Game are very popular.
“While Terra’s big run is maybe behind it, it will still see upward momentum as the altcoins start making new all-time highs.”
#7 One of the last altcoins is Near Protocol (NEAR). NEAR is a proof-of-stake smart contract platform that hopes to achieve mainstream adoption by being as user-friendly as possible for newcomers. The crypto KOL points out that NEAR is up over 500% for the year and it is quickly gaining ground in the smart contract race.
#8 Comos (ATOM) is building a network of blockchains by providing important infrastructure to the industry with its Tendermint protocol.
“Many of the industry’s leading products including Loom, RUNE THORChain, Mirror Protocol and Binance Smart Chain were all built with Cosmos using Tendermint.”
According to Armstrong, the price for Cosmos began a sharp upturn earlier this week and is currently up nearly 500% for the year.
#9 & #10 The last two coins are OMG Network (OMG) and Bybit (BIT).
As for OMG Network, its native token OMG is up over 300% for the year. It still has yet to reach its all-time high from the last cycle, meaning that there remains a lot of “pumptential”.
For Bybit (BIT), the trader says that this token is based on an exchange as strong as Bybit making it a solid fundamental token in which it has a staying power.