With tens of thousands of altcoins in circulation, it can be overwhelming for crypto investors to identify the next potential gem that could deliver significant returns. The sheer volume of options makes it easy for investors to miss out on promising altcoins that are not on their radar. Recognizing this challenge, a Santiment analyst has highlighted six overlooked altcoins that may be primed for a rally.
The Santiment analyst selected these altcoins based on a surge in their network activity, which often goes unnoticed by investors. These tokens have managed to fly under the radar, but their activities, such as transaction volumes, network growth, and large transaction numbers, have caught the attention of astute analysts. These hidden opportunities lie in projects that may not have experienced significant price decouplings recently, but have witnessed a surge in network growth or whale transactions and accumulation.
Bancor Network
One of the altcoins that has shown notable network metrics growth is Bancor Network. As an open-source DeFi protocol catering to permissionless projects, Bancor Network has witnessed a significant rise in transaction volumes, active addresses, network growth, whale transactions, exchange inflows, and age destroyed (Consumed). These metrics indicate the potential for a surge in the price of BNT.
Cartesi Network
The application-specific rollups Cartesi Network, known for its Linux runtime, has also displayed a rise in network metrics similar to Bancor Network. High transaction volumes, active addresses, whale transactions, and age destroyed (Consumed) have been observed. These metrics suggest a potential rise in the native CTSI token.
Holo (HOT)
Holo, operating on the Holochain, offers Peer-To-Peer (P2P) applications. While it may have stayed under the radar, Holo has caught attention due to its whale transactions. The Santiment post reveals a rise in whale accumulation among addresses holding between $100,000 and $1 million. Additionally, high whale transactions, exchange inflows, and age destroyed (Consumed) indicate a potential surge for HOT.
Powerpool (CVP)
Similar to Holo, the governance-facing protocol Powerpool has been experiencing trends indicative of potential growth. Accumulation among whales holding $100,000 to $1 million, high active addresses, network growth, and age destroyed (Consumed) point towards the possibility of CVP witnessing a rally.
Storj (STORJ)
Storj is a project that aims to provide cleaner storage services, allowing organizations to reduce their carbon footprint and cloud storage costs. Although it may be flying under the radar, STORJ has shown promising signs. High transaction volume, active addresses, network growth, whale accumulation, and age destroyed (Consumed) boost its potential.
Unilend (UFT)
Unilend is a protocol bringing decentralized finance (DeFi) trading together in one accessible place through smart contracts. Rising as the sixth altcoin on this exclusive list, Unilend has seen significant growth in transaction volume, active addresses, network growth, whale transactions, accumulation among whales holding $100,000 to $1 million, and exchange inflow.
While these altcoins have demonstrated increased network activities, it is crucial to exercise caution. The crypto analyst warns that four out of the six highlighted projects are likely experiencing heightened network activity due to price pumps. While these altcoins offer potential, investors should conduct thorough research and analysis before making any investment decisions.
The world of altcoins is vast and filled with opportunities waiting to be discovered. By paying attention to network activity and identifying overlooked gems like Bancor Network, Cartesi Network, Holo, Powerpool, Storj, and Unilend, crypto investors can position themselves for potential rallies. However, it is essential to recognize the dynamic nature of the cryptocurrency market and approach these opportunities with a discerning eye.