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 that we should be really focused on.
Cheeky Crypto, a Youtube Channel focused on cryptocurrency, has given you a hand by highlighting 5 projects, let’s check out whether these altcoins can survive in this bear market.
The first one on the list is the legend of cryptocurrency, Bitcoin (BTC). Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.
There’s possibly some further downside, but then there is a possibility that we do start to see another search to the upside. BTC is trading at $34,458, down 4.16%, and ranking number one by market cap.
BTC Chart | Source: Coinmarketcap
The second altcoin mentioned on the list is Polkadot (DOT). Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.
This project has a solid team. One of the founders of Polkadot was one of the co-founders of Ethereum. It has solid technology and we’ve still got an awful adoption yet to happen on the Polkadot ecosystem. They are focusing on quality over quantity in long term. DOT is going to pay off massively. This project has a $4.4 million total value locked, down 0.45% in the last 24 hours. But Chris still expects: “I’m expecting this ecosystem to grow immensely. So, for me, it’s a project that just had to make this list.”
DOT Chart | Source: Coinmarketcap
The next altcoin on the list is Chainlink (LINK). Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events, and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
LINK is trading at $10.16, ranking number 27. Its technology is massively integrated with a lot of other projects in the space. This is really volatile asset.
LINK Chart | Source: Coinmarketcap
The next one is Cardano (ADA). Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change.
ADA is changing hands at $0.74, down 4.41%, and ranking number 8 by market cap. This project is going to do some really fundamental things in the real world. They’re really looking to level the playing field when it comes to financial services identification. The technology heading into the real world in the long term, so really excited about their plan.
We are starting to see some real adoption when it comes to investors from the VC side of things. This is a really interesting project that can survive even in a bear market.
ADA Chart | Source: Coinmarketcap
The last one Chris mentioned on the list is VeChain (VET). VeChain (VET) is a versatile enterprise-grade L1 smart contract platform. VeChain aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem that solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals.
VET is trading at $0.044, down 3.56%, and ranking number 34 by market cap. VeChain had no downtime. It possesses solid technology and five-star-rated blockchain technology. VeChain was the first altcoin to be rated at that level.
They’ve got huge partnerships well-funded. They’re having a bit of a focus on retail and NFTs popping up metaverse projects. That’s why VeChain takes the last place on the list.
VET Chart | Source: Coinmarketcap
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