Experts named cryptocurrencies that can significantly increase their value amid the recovery of the digital asset market
Crypto analyst and trader Scott Melker named three tokens that, in his opinion, may show high returns in the near future. Melker says Cosmos (ATOM), Elrond (EGLD) and SushiSwap (SUSHI) will see skyrocketing growth. Experts commented on the prospects for these altcoins.
Cosmos (ATOM)
According to Melker, the Cosmos token rate has not yet recovered after the collapse of the cryptocurrency market in May, when Bitcoin fell by more than a third per day and reached $ 30,000 for the first time since January.
In the near future, the price of the token will begin testing the $ 23 level (an increase of 9.5% from the current levels), the trader claims.
According to Melker forecast, in case of a successful breakout and consolidation above $ 23, the cost of Cosmos could grow to $ 32 (an increase of 52%).
On August 24, Cosmos is trading at $ 21, with a token cap of $ 5.8 billion, according to CoinGecko. Over the month, the digital coin has grown by 112%.
The Cosmos token has a chance to “make X’s” provided there is strong marketing and further development of the blockchain, says Andrey Podolyan, CEO of Cryptorg crypto exchange. According to him, the token has prospects for multiplying capitalization.
Cosmos (ATOM) is a decentralized network of independent parallel blockchain that operate on the basis of Byzantine fault tolerance (BFT) algorithms.
These blockchain are able to interact with each other through the Cosmos network called the “Internet of blockchains“.
Elrond (EGLD)
The Elrond token rate aimed at overcoming the resistance zone, which is at the level of $ 148.6 (an increase of 2%), Melker said. After the cryptocurrency reaches this mark, its price may rise to $ 203 (an increase of 39%), and then to $ 245 (an increase of 68%), the trader predicted.
On August 24, Elrond is priced at $ 145.6. The capitalization of the digital coin has exceeded $ 2.8 billion. Over the past month, the digital coin has risen in price by 90%.
The Elrond token has great growth potential due to the fact that the blockchain platform already supports shading, explained Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service.
According to Soshnikov , due to the shading technology, a high speed of transactions is achieved, which allows developers to create effective smart contracts.
“This area, I am sure, will continue to grow, since the decentralization of financial services is in demand by the market, in demand by retail investors, because they are offered more opportunities to obtain profitability with a lower threshold of entry,” Soshnikov added.
Elrond is a blockchain platform for building high performance and secure applications (DApps) based on smart contracts.
Elrond’s network is capable of processing up to 15 thousand transactions per second, making it one of the most productive blockchains.
Transactions at Elrond are confirmed almost instantly.
SushiSwap (SUSHI)
After breaking the resistance level at $ 13.5, the price of the SushiSwap token will aim to reach $ 22.5 (up 72%), Melker said. According to him, there is no serious resistance between the $ 13.5 and $ 22.5 levels that could prevent the digital coin growth.
As of August 24, the SushiSwap token is trading at $ 13.1, and the cryptocurrency capitalization is $ 2.5 billion. Over the past four weeks, the digital coin has risen in price by 82%.
The SushiSwap token will continue to grow in the near future due to the growth of the DeFi sector and the trading volumes on decentralized crypto exchanges, the director of the cryptocurrency exchange service Alfacash predicted.
SushiSwap is a decentralized platform for “profitable farming”.
Users can deposit funds on it as a deposit and receive a percentage of it in SUSHI tokens.
