ThorChain, Enjin, XRP, And 2 Other Altcoins Will 10X Your Crypto Portfolio
High-profile trader Tom Busby from CrytoBusy shares with subscribers lists out top 5 altcoins with 10x upside potential to add into portfolio.
The first altcoin on the list is THORChain (RUNE). THORCHain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.
According to the trader, The point of difference with THORChain is that it acts as a market-maker of sorts and users don’t need to rely on liquidity on other more centralized platforms such as exchanges. Similarly, it is unique in that it can exchange cryptocurrencies with different blockchains, without the need for any kind of bridge.
At the time of the video, THORChain was trading at $6.82 with a market cap of $1.5 billion, marking an 810.2% rise in 1-year frame.
Next on the trader list is Utrust (UTK). Utrust was designed to provide a solution to the problems resulting in the low usability of cryptocurrency as means of payment, particularly the underdeveloped transactional security of payment platforms and relatively high fees. The analyst says that Utrust is similar to Paypal in the crypto market.
“One of the most severe problems of cryptocurrency is price volatility. Utrust aims to protect both buyers and sellers from its effects by shielding the sellers against market volatility and providing the buyers with a refund option. Until a purchased product is received by the buyer, Utrust secures the transaction, acting as a mediator and ensuring the success of the transaction.”
At the time of the video, UTK was trading at $0.3, rising 63.4% in the past 30 days.
Another altcoin on the trader’s radar is Enjin (ENJ), an Ethereum-based cryptocurrency used to directly back the value of next-generation blockchain assets.
Recently, Enjin announced that it would be exploring ways to use NFTs to promote sustainability and equality as part of the UN pact. The company suggested using the technology to fight climate change by employing it in carbon-capture companies and reducing the global wealth gap by allowing creators around the world permissionless access to NFT markets.
ENJ has increased 12.7% to $1.58 in the past 7 days.
The fourth coin on the list is XRP (XRP).
According to the trader, in the latest series of events, the United States Securities and Exchange Commission (SEC) failed to turn up internal documents despite two orders from Judge Sarah Netburn on request from the defendant, Ripple Labs.
XRP price surged by 67.39% to $0.82 after bottoming out at $0.514 on July 20.
The trader says that a majority of its gains came in the wake of a marketwide upside rally, led by the euphoria surrounding Ethereum’s milestone software update. He also predicts XRP to hit $1 in the coming days.
Last on the list is Zilliqua (ZIL). Zilliqa is a public, permissionless blockchain that is designed to offer high throughput with the ability to complete thousands of transactions per second.
“It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many decentralized applications, and as of October 2020, it also allows for staking and yield farming.”
The altcoin is ranked at 79 on Coinmarketcap with a trading price of $0.09, up by 24% in 7 days.