Bear markets are the birthplace of the cryptocurrency rich. Investors who fail to act rationally during difficult times are caught off guard in bull markets, and a tiny minority is rewarded for their patience. Youtube Channel Cheeky Crypto, which is closely followed by cryptocurrency analysts, highlighted the top 10 altcoins to buy before it's too late.
Ripple (XRP) was the first altcoin mentioned in the channel. XRP is an open source, permissionless and decentralized technology. The advantages of XRP include its low cost, high speed, scalability and inherently green features. The main negative aspects are the ongoing SEC lawsuit and the management's disregard for investors. Ripple executives used their tokens, which we can call the unauthorized sale of securities, to fund their companies. Afterwards, they said that XRP and Ripple are different things.
The end of the SEC lawsuit will be a major catalyst for the XRP price. Those who bought XRP in January 2018 are still dreaming of a price above 3 dollars. Because only in this way will the losses be covered. Cheeky analysts, on the other hand, point to a short-term target of around $0.52 based on the theory of Elliott waves.
The second project on the list, Avalanche (AVAX), is the most powerful blockchain in terms of speed. Avalanche is incredibly fast, cost-effective and environmentally friendly. Any smart contract-enabled app can kick in on Avalanche, outpacing its competition.
The third altcoin to be bought before it's too late is Kadena (KDA). Kadena is working to deliver a scalable version of Bitcoin. Kadena claims that it can secure Bitcoin while offering unmatched efficiency that makes its blockchain available to businesses and entrepreneurs alike.
Boba Network (BOBA) is next in the list. Boba is an L2 Ethereum scaling solution built by the Enya team as key contributors to the OMG Foundation. Boba is the next generation Ethereum layer2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput and expands the capabilities of smart contracts. The bottom is pointed at $0.25 and this level is said by the analyst to be reasonable for buying.
The next altcoin mentioned on the list is Theta Network (THETA). Launched in March 2019, Theta mainnet operates as a decentralized network where users share bandwidth and computing resources on a peer-to-peer (P2P) basis. The project is recommended by YouTube co-founder Steve Chen and Twitch co-founder Justin Kan. According to the analyst, the price between $0.83 and $0.93 could present a good buying opportunity.
The next altcoin to be bought before it's too late, COTI is marketing itself as the first enterprise-grade fintech platform empowering organizations to build their own payment solutions and digitize any currency to save time and money.
At the end of the list are SingularityDAO (SDAO), SingularityNET (AGIX), Polkadot (DOT), and Polygon (MATIC).