Top 5 Potential Altcoins To Buy In May 2022, According to Cheeky Crypto
The entire market has been red over the last few days. Traders are still wondering which altcoins to hold and which to eliminate from their portfolios.
Understanding that, Chris, the host of Cheeky Crypto, a Youtube Channel that focuses on cryptocurrency, has highlighted the top 5 potential altcoins that traders should keep an eye on in May 2022.
The first one mentioned on the list is Uniswap (UNI). Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of DeFi tokens.
It has been up 10% already and ranks number 26 by market cap. It was pulled back down but as a decentralized exchange, UNI is a solid project that has huge potential to go back up. That’s why it takes first place on the list. UNI is changing hands at $7.85 for now.
UNI Chart | Source: Coinmarketcap
The second potential altcoin 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.
We were approaching the upgrade, which is on the 28th of June. That’s where the real price action will start to occur. Cardano smart contract platform ecosystem has superior technology to Ethereum and ultimately. This one’s going to be one of the kings of DeFi and Artificial Intelligence.
We’ve already seen some of the bridges from Ethereum to buy that smart chain and we’re going to start to see that for Cardano shortly as well. Lots of things are going on for the Cardano ecosystem.
There’s no better way than delegating your ADA into the stake pool. By doing so, you’ll not only support the channel but also earn a juicy return and a nice passive income on your ADA holdings. ADA is trading at $0.86 and ranking number 9 by market cap.
ADA Chart | Source: Coinmarketcap
Terra (LUNA) is the third one on the list. Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
LUNA is ranked 9th by market cap and is trading at $85.7. It’s pulled back and we will see some potential gains depending on what the announcements are with the Fed.
It’s going to be a project that becomes more and more stable over time. Programmable money for the internet started to invest in Bitcoin (BTC) and various other assets that are going to bring sustainability to this particular ecosystem.
LUNA Chart | Source: Coinmarketcap
The next potential altcoin is Polkadot (DOT). Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.
This project has great technology power chains. Lots of projects are being built on this platform. It’s a solid project another co-founder a bit like Cardano. These were co-founders of Ethereum’s solid project with a solid team, solid use case, and the technology is just immense. That’s why Polkadot takes fourth place on the list. DOT is changing hands at $15.9, which is up 3.15% and ranked number 14 by market cap.
DOT Chart | Source: Coinmarketcap
Near Protocol (NEAR)
The last one mentioned on the list is Near Protocol (NEAR). NEAR Protocol is a layer 1 blockchain that was designed as a community-run cloud computing platform and that eliminates some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput, and poor interoperability.
This is another solid project with a solid team, solid technology, and one that is going to do really well using a lot of the buzzwords around metaverse. It’s a multi-chain future and definitely a project that traders should do some research on.
These are 5 super projects for the mid-term and long-term time horizon. They’re great projects with solid teams and solid use cases. In volatile markets, this is what we’re going to be leaning on. NEAR is trading at $12.68, up 1.1%, and ranked number 18 by market cap at press time.
NEAR Chart | Source: Coinmarketcap
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