Bitcoin has unexpectedly crashed after seemingly pumping! Therefore, a lot of people are afraid that it will continue to crash.
Tom, host of CryptoBusy, a famous Youtube Channel focused on cryptocurrency, has highlighted the top 5 undervalued altcoins that have huge potential for this month and also for this year. We’re seeing Bitcoin in a downtrend. But with a retest soon, this can spell good news for altcoins.
ApeCoin (APE)
The first altcoin mentioned on the list is ApeCoin (APE). ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize decentralized community building at the forefront of web3.
Over the past seven days, APE has been correcting quite heavily and this is a good time to get in. Whenever you see heavy correction on any of the altcoins and they have a good team, a good white paper, a great community, and all of these important things. That is also really cool to see it pump back up. APE is trading at $11.94 for now and ranking number 33 by market cap.
ApeCoin is in the ecosystem of the Board Ape Yacht Club, which again one of these massive entities in NFT communities as well. There are some use cases behind it. That’s also really cool to see there as well. But it’s just one of those ones where it is a bit of a bet because what can they do, what else can they provide, what other value, what the hype can they provide. But we are going to be seeing some further upturn in APE’s price.
APE Chart | Source: Coinmarketcap
STEPN (GMT)
The second one is one of the hottest altcoins these days, STEPN (GMT). STEPN is a self-styled “Web3 lifestyle app” with GameFi elements on the Solana blockchain. It combines aspects of a play-to-earn game with a fitness app to create a new category coined “move-to-earn.” Users buy NFT sneakers, which they can use to earn in-game currency while walking, running, or jogging.
GMT is trading at $2.64, it’s had an all-time high of around $4. This is a fairly new project and recent coin that’s come out onto the market, so it’s just one of those we just see where things go, how it develops, how the community is going to interact with it as well, and whether it’s going to be accepted as a long-term hold.
It pays you as you walk, which is really cool. You have to buy shoes or a certain set of shoes to actually earn. But you can earn fairly good returns on it if you walk like 10,000 steps in a day. Some people earn up to about $50 a day, maybe even more. In total, that is upwards of like $500 and $1,000 within a week.
GMT Chart | Source: Coinmarketcap
Harmony (ONE)
The next potential altcoin on the list is Harmony (ONE). Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows the creation of blocks in seconds.
This is an undervalued altcoin, especially right now. Its all-time high is $0.37 and is currently ranked number 80 by market cap. It’s an application it’s a blockchain that is facilitating dApps, which is also a massive thing in today’s world and also again further adoption of that network. That’s why Harmony has huge potential to pump in the near future.
ONE Chart | Source: Coinmarketcap
IoTeX (IOTX)
The next one on the list is IoTeX (IOTX). IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives.
IoTeX is involved and given the name in the Internet of Things. We just have to wait and see what happens with this particular cryptocurrency.
IOTX has had an all-time high of around sort of $0.25. Tom thinks it can go back to that level this year given if we do see a hundred thousand dollar Bitcoin. But all of these coins have again great teams, great white papers, and also great communities behind them. That’s certainly possible potentially even going higher than that as well.
IOTX Chart | Source: Coinmarketcap
Ren (REN)
Ren (REN) is the last potential altcoin that Tom mentioned on the list. Ren is an open protocol built to provide interoperability and liquidity between different blockchain platforms.
REN is trading at $0.26, ranked number 157. It has had an all-time high of $1.83. If this does go back to its all-time high, that is a very good trade.
It’s providing interoperability and liquidity between different blockchain platforms. It means that you have the Bitcoin blockchain, then you have the Ethereum blockchain. Ren can provide the liquidity between each one and also the communication between each blockchain. Ren is trying to solve that. Therefore, it has huge potential and big use case to pump in this month.
REN Chart | Source: Coinmarketcap
Read more:
- These 5 Altcoins Cannot Survive In Bear Market, According to Cheeky Crypto
- Top 4 Undervalued Altcoins On Sale That You Should Buy Soon