Market correction – an opportunity to purchase promising altcoins. The best options from the sphere of decentralized finance to the largest digital coins in terms of capitalization.
Ethereum
It is Ethereum that the billionaire Karl Icahn prefers over bitcoin, who is ready to invest up to $ 1.5 billion in the field of cryptocurrencies. The entrepreneur noted in an interview with Bloomberg that Ethereum can be used both as a store of value and as a means of payment.
Earlier, Nigel Green, CEO of deVere Group, expressed confidence that Ethereum will replace Bitcoin. The company operates in the field of asset management with a total investment of over $ 10 billion. Green is confident that with the interest of institutional investors, and the boom in sectors such as DeFi and NFT, Ether has excellent prospects.
CEO deVere is confident that bitcoin is a technologically more backward currency, in which, for example, smart contracts cannot be implemented. The only thing that Ethereum is inferior to Bitcoin is in cost and popularity.
Green is confident that 2021 is the year of Ethereum. The prospects for the development of the Ethereum virtual machine are associated not only with its ETH coin, but also with its related asset ETC (Ethereum Classic), the price of which usually rises after the largest altcoin in terms of capitalization.
Chainlink
Chainlink is the first network of decentralized oracles between blockchains and smart contracts, and among its partners is the Swift payment system. Also, the coin is in the portfolio of the Grayscale investment fund.
Coins far from the historic high
The total capitalization of the crypto market in 2021 exceeded the absolute record of the winter of 2017-2018 above $ 800 billion, and despite the correction is about $ 1.6 trillion. However, there are a number of coins that are still trading below all-time highs. For example, Tezos (XTZ), which peaked in December 2017 at around $ 10.5, is now trading at $ 3.
Ubisoft is working with Tezos, which are also associated with developers from Nomadic Labs, who are also associated with the French Central Bank Digital Currency (CBDC) project.
Far from historical highs and “anonymous” cryptocurrencies – Monero, Dash, ZCash. For Monero, the 2018 peak of $ 479 was only reached on May 8, and the current price is $ 275. The all-time high for Dash is $ 1329 at the current price of $ 186. For Zec, it is $ 854 at the current price of $ 154.
BNB and Binance Smart Chain Blockchain Coins
TradingView user TV Tree Trader believes that the cryptocurrency is in a triangle, and if it breaks above $ 400, one can expect growth to $ 550. At the same time, if the resistance is broken down at $ 300, the price of the asset may start to fall in price.
The coin of the Pancake swap decentralized exchange, Cake, is still at around $ 19, while the total amount of funds locked in this project already exceeds $ 15 billion, according to aggregator DeFi Lama, and the trading volume on Pancake Swap is comparable to Uniswap.
At the same time, many users note the shortcomings of the BSC and DeFi blockchain on it: centralization and vulnerability to hacker attacks.
New solutions for DeFi
The popularity of decentralized finance continues to grow. The total amount of funds blocked in them has exceeded $ 100 billion. In a recent report by the consulting company Messari Group, the Thorchain project was mentioned as very promising. It solves the problem of transferring liquidity from the Binance Smart Chain and Ethereum blockchain pools between each other. Thor Chain pools are currently running in limited testing mode.
As the project develops, Messari analysts predict an increase in the volume of blocked funds in its pools, as well as an increase in the price of the project’s cryptocurrency – the RUNE token, the price of which has already significantly corrected from ATH of $ 20 to the current price of $ 11.
