The market is bloody these days. It’s time to look at the projects, their utilities, use cases, the teams, the technology, and various other metrics we should focus on.
Cheeky Crypto, a Youtube Channel focused on cryptocurrency, has given you a hand by highlighting another 5 projects, let’s check out whether these altcoins can survive in this bear market.
Terra (LUNA)
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.
This is truly a well-funded project. Lots of VC back in it. This project is easily going to survive a bear cycle because its technology is awesome, the use case, the backing, and the team are there. So, ultimately, it’s also got a lot of following when it comes to influences as we.
LUNA is trading at over $60, which is down 5.35% and ranking number 9 by market cap. It’s got $23.34 billion total locked, which is down 17%. But Terra is still the one to take a look at.
LUNA Chart | Source: Coinmarketcap
Avalanche (AVAX)
The second altcoin on the list is the one that ranked number 13 by market cap: 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.
It’s a fantastic project because it’s low-cost, eco-friendly, it’s a smart contract platform, the technology is immense, and the team is solid. They’ve got ample amounts of VC investments and funding. It’s a great project with $8.66 billion total value locked.
It’s got a pretty decent size, but this will continue to grow with its ecosystem. AVAX is changing hands at $48.53, down 10.67%, and the market cap is huge with more than $13 billion.
Algorand (ALGO)
The next one mentioned on the list is Algorand (ALGO). Algorand is a self-sustaining, decentralized, blockchain-based network that supports many applications. These systems are secure, scalable, and efficient, all critical properties for effective applications in the real world. Algorand will support computations requiring reliable performance guarantees to create new trust forms.
This one just had to make the list because it has fantastic technology, a fantastic team, and lots of funding available. The total value locked is $187.36 million. It’s up 7.22% in the last 24 hours. It has been down 14.37%. And that ecosystem has a huge potential for growth and price discovery off the back of it. We expect to see price discovery. ALGO is trading at $0.65 and ranked 26th by market cap.
ALGO Chart | Source: Coinmarketcap
Hedera (HBAR)
The next altcoin on the list is Hedera (HBAR). Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful DApps.
This project possesses a solid team and solid technology. Lots of funding is available, and this one will do really well. This is a project that is going to do really well in the long term. HBAR is currently ranked 37th by market cap, changing hands at $0.12, down 6.72% at press time.
HBAR Chart | Source: Coinmarketcap
The Graph (GRT)
The last one Chris mentioned on the list is The Graph (GRT). The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in DeFi and the broader Web3 ecosystem.
This solid project will do well, particularly with web 3. GRT is changing hands at $0.27, down 8.34%, and ranked 57th by market cap.
GRT Chart | Source: Coinmarketcap
These five projects are solid, and they are believed to get through a bear cycle or a bear market. These are all about safety investments and traders should do their own research before making any decision as this is not financial advice.
Read more:
- Top 5 Potential Altcoins For May 2022, According to CryptoBusy
- Cheeky Crypto Revealed Altcoins Can Survive In This Bear Market