After BTC hit its ATH of $73,737 in March 2024, crypto fans have been waiting for the altcoin season to begin. However macroeconomic struggles, the resolution of the FTX and Mt Gox scandals, the selling of government-owned BTC seized from the Silk Road, and the conflicts in Russia and the Middle East have made it a tough year for the financial markets.
However there’s a silver lining in every cloud and while some of those troubles are ongoing, many of them are coming to a close. Many analysts are seeing that crypto has reached its lowest point and is now gearing up for a big rally. This means now is the time to top up portfolios, but which cryptos should you choose?
Our analysts' picks are Avalanche, Internet Computer, and Cutoshi. Here’s why:
Avalanche is one of the most used L2 scaling solutions in 2024. As well as exciting partnerships with one of web3's first AAA games - Gunzilla - Avalanche is also expanding into countries that will benefit from the use of crypto, due to restrictive capital controls and rising inflation.
Colombian neobank Littio announced it is transitioning from Ethereum to Avalanche to offer customers a more affordable way to hedge against the peso’s continued decline. Littio has a partnership with OpenTrade, a fintech startup that provides stablecoin solutions by tokenizing real-world assets. Littio plans to use this to increase its yield-bearing savings offering.
“Colombia’s ongoing currency devaluation has made it harder for local consumers to achieve financial stability,” said Jeff Handler, OpenTrade’s chief commercial officer.
Littio will migrate its assets from OpenTrade’s Ethereum-based vaults - known as Yield Pots - to Avalanche. This shift is due to Avalanche’s lower transaction fees.
Avalanche currently ranks as the 13th largest digital asset by market cap and is set to continue growing.
This project has a lot of potential, and our analysts believe it could be a $1 trillion crypto project. Now, why do our analysts like ICP?
Way back in 2015, founder Dominic Williams saw the potential for smart contracts to revolutionize the digital world. And so he created ICP to be the world’s digital computer.
There are many blockchains but the numbers for ICP are very surprising. ICP processes about 1.5 million Ethereum-equivalent transactions a second. In one hour, it does more computing than all other blockchains combined do in a year.
With the rise of AI, ICP has become even more important. It can combat the dangers of AI hacks by providing a platform that's immune to cyber attacks. No security teams, no firewalls, no anti-malware - it just doesn't need it.
ICP also makes AI easier to run. People can run custom AI models on ICP without worrying about data breaches or hacks. Adoption takes time, but ICP is way ahead in many aspects and that’s why those in the know are feeling very bullish about Internet Computer.
This meme coin come DeFi ecosystem is our analysts' final pick. Serious projects like Avalanche and ICP are very important, but we can’t forget that the 6th biggest coin by market cap is the meme coin DOGE.
Cutoshi differentiates itself from other memecoins by also having DeFi capabilities. The ecosystem will consist not only of a cute Chinese Lucky Cat style avatar, but also the Cutoshi DEX for cross-chain swapping, community quests, competitive cutopoints farming, a learning academy, and utility-based NFTs.
Cutoshi also plans to work collaboratively with its community, integrating wishes and suggestions from community members, making this a truly inclusive web3 project.
Cutoshi is currently in presale in the very early stages. $340,000 has been raised to date and the CUTO token is available at $0.022 (early buyers are already up 46%). Given that this is a meme coin in presale, experts predict that if all goes to plan CUTO will deliver 100x returns in the next few months.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.