If you have a few hundred dollars and want to turn it into thousands of dollars, even in this bear market, but don’t know which cryptocurrency to choose.
In the latest video, Altcoin Daily, a famous Youtube Channel focused on crypto, has highlighted the top 5 best altcoins for this bear market.
Optimism (OP)
The first altcoin mentioned on the list is an incredibly new project called Optimism (OP). Optimism is a low-cost and lightning-fast Ethereum layer 2 blockchain. Optimism makes Ethereum transactions cheaper and faster, the approach that Optimism is taking to scaling both Ethereum and Ethereum’s values, and that’s why Optimism is the best place to build your next Ethereum-native app.
It’s already done integration and it’s already being used. Optimism is in the process of airdropping its token to network users, strategic partners, and even everyday average users.
They want to reward the people who understand and use their network. They’ve been distributing their tokens to some big players. Optimism allocated 5.4% of its supply to be distributed to projects and communities within the optimism ecosystem. With phase one of this program, Chainlink was allocated $1 million tokens.
The rise of Ethereum layer 2 in the coming years represents a monumental opportunity to usher in a new era of the human-centric internet.
OP price prediction is $6.6, this is also a pretty fair price prediction. A more moderate price prediction is $12 per OP token, then a very optimistic price prediction for Optimism is $16.8. This token does not have a market value, but with its function and distribution, anything could happen to OP.
$OP @optimismPBC price prediction
— Rare Gems Finder ₿ (@RareGemsfinder) May 25, 2022
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This valuation is predicted using 30% of the supply distributing.
As we know, almost 5% of the whole supply is being distributed, so the price should be multiplied by 6.
Pessimistic Price: $6.6
Moderate Price: $12
Optimistic Price: $16.8 pic.twitter.com/xQyCTZmyhz
Chainlink (LINK)
The second altcoin on the list is celebrating its three three-year mainnet anniversary, Chainlink (LINK).
Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
Chainlink is also one of the best performers in a Bitcoin bear market ever for all altcoins specifically for the last bull run. Chainlink has a lot of things going for it with 5.8 million-plus all-time requests fulfilled. Chainlink VRF (verified random function) is the industry standard for secure on-chain randomness. Developers are rapidly adopting the highly scalable gas-efficient VRF version 2 to build the next wave of NFTs and web 3 games.
Chain link oracle networks have reached a point of self-sustainability from dApp fees alone. DApp fees revenue is so important to sustaining a crypto protocol. This economic efficiency represents the path forward for how Chainlink feeds operations in the long term.
1/ On blockchains such as BNB Chain and Polygon, multiple #Chainlink oracle networks have reached a point of self-sustainability from dApp fees alone.
— Chainlink (@chainlink) May 26, 2022
This economic efficiency represents the path forward for how Chainlink feeds operate in the long term. https://t.co/4mR4Wz3atu pic.twitter.com/2p1PFCgJ47
Avalanche (AVAX)
The third one for this bear market is one of the best layer 1 in the space, one of the best Ethereum competitors, Avalanche (AVAX). Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. Avalanche is blazingly fast, low cost, and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche.
Avalanche is gearing itself towards maximum scalability and just maximum users with the cheapest fees. Avalanche has a huge ecosystem. They’re well-funded, they have great strategic partners, and 478 projects in 20 months. From a tokenomics standpoint, 66% of all AVAX is locked on 1470 validators. Avalanche is the fastest most decentralized proof-of-stake crypto platform.
66% of all #AVAX is locked on 1470 validators#Avalanche is the fastest, most decentralized PoS crypto platform$AVAX is the future 🚀🚀🚀
— AVAX TOrtillas! 🔺 (@avaxto) May 28, 2022
One of the most important metrics important graph to look at is monthly active users for Avalanche including only the c-chain, the monthly active users remain very elevated around 75% from January’s ATH. The small drop over the past few months is in line with the general market downtrend and subnets have just started to come online. So we’re in the early stages of Avalanche adoption.
Cardano (ADA)
The next best altcoin for this Bitcoin bear market is Cardano (ADA). Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change.
Cardano native assets minted reach 5 million as ADA spikes by 12%. The Cardano network has now seen the minting of over 5 million NFTs, according to the pool.pm data. The number of native assets issued on the Cardona blockchain is presently more than 5 million with 54,000 plus distinct mining policies.
The Cardano blockchain can natively generate interact with and delete custom tokens. “Native” indicates that users can interact with these custom assets straight out of the box without having to employ smart contracts back in 2020.
Cardano creator, Charles Hoskinson, predicted that the Cardano ecosystem would witness growth as there would be hundreds of assets, thousands of dApps, tons of interesting projects, and lots of uniqueness and utility.
According to data from Messari, Cardano is recording the highest 24-hour. Adjusted transaction volume remains a good way to isolate only the most important transaction.
Litecoin (LTC)
The last altcoin is going to be Litecoin (LTC). Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.
Litecoin has just recently gone through a major protocol upgrade. Litecoin holding this uprising meme line monthly. Any monthly close below we probably revisit 2018 lows in the 20s.
There will be a major rally for Litecoin, especially because it’s only been about a week. But this major upgrade is fully implemented. Mimblewimble is the largest upgrade of the Litecoin network ever, successfully launched. Essentially, Mimblewimble is an opt-in feature that provides fungibility and confidentiality improvements for day-to-day transacting along with the inability to view address balances.
#LTC $LTC holding this uprising meme line on monthly is litecoins last hope imo. Any monthly close below we probably revisit 2018 lows in the 20s. I do have a lot of confluence that the low is already in though. We should find out soon. pic.twitter.com/rv03t7ySFv
— Luci0 (@lucioTS3) May 28, 2022
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