It’s been a tough time for the crypto market to say the least. The much-feared crypto winter is finally upon us and with inflation continuing to rise we can only expect more FED interest rate hikes and market downturn.
However, there are some altcoins that, despite the odds, continue to outperform the rest, here are our top 4 picks.
Chain Protocol (XCN)
Chain is a cloud blockchain to help build financial services on the interwebs. The project includes both Chain Core – a permissioned and open source blockchain – and Sequence, a public ledger, allowing for maximum cloud interoperability.
The Chain Token (XCN) serves as a governance and utility token for the Chain Protocol. The token is used to vote on protocol improvements and programs as well as more functionalities in the ecosystem.
The XCN is currently at $0.082 with a short-term peak at $0.089 at the beginning of May and almost 90% rise compared to USD. The growth comes after improvements including discounts, premium access, and payment methods done on the blockchain, and could very well continue into Q4.
Ethereum is one of those projects that doesn’t need an introduction. The blockchain is creating one of the most ambitious DeFi networks, that aims to provide P2P services and products to all users.
Ranked second in market cap the project is unique due to its smart contract functionality, which allows agreements between parties to be fulfilled without having to pass by a centralized institution.
ETH has been suffering in this crypto winter, however, the tides are changing so it deserves a spot on the list. The coin has been gaining on BTC for 2 years now and that trend is only set to continue with the release of ETH 2.0. Ethereum has seen an over 100% growth since its bottom in June, now sitting at around $1750, due to the expected transition from proof-of-work to proof-of-stake in the middle of September. If successful, the growth will continue into Q4, making it a great pick for the crypto winter.
Choise.com is the first MetaFi ecosystem that aims to simplify the usage of DeFi products. The platform connects the DeFi and CeFi space in just a couple of clicks. The token is based on the fast-growing MetaFi idea which combines the functionalities of CeFi and services for earning of DeFi.
At the heart of Choise.com is an in-house DeFi ecosystem called Charism with its earn products that unlock cross-chain high yield for over 100 million CeFi crypto users worldwide. One of the most recent product updates are limited DeFi interest accounts that allow users to earn up to 26% APR on the platform’s native CHO token, as well as several others.
In simple terms, Choise.com lowers the barriers of entry to DeFi, and the market sees its potential. CHO is currently trading at $1.01 and has seen an over 85% raise since its launch back in June. The project is still small in market cap, coming around the 3000th in size, meaning that the potential gains are exponential.
UNUS SED LEO
The last pick is UNUS SED LEO, a midcap gem that works as a utility token across the iFinex ecosystem. The protocol allows users to save on trading fees and other expenses when using the Bitfinex crypto exchanges.
Due to its utility and closeness with the Bitfinex exchange, as well as Tether, the stablecoin leader, UNUS has had a lot of attention and has seen backing from big capital in the space. The coin is currently trading at around the $5.40 mark, defying the crypto winter and seeing an almost 40% gain in the last year making it a great pick for your portfolio.
The future of the crypto market depends on the decisions of the US Federal Reserve. What rules it all are interest rates, if the next inflation statistics come in lower than expected in September we could see a rebound into Q4. However, if the data isn’t that promising, then the FED will be forced to raise interest rates crashing the market further.
Bear markets are never pretty, however, there’s no need to despair, traders can always look for promising coins that help us ride out the crypto winter and even profit on top of that.