According to analyst Sahan Vibhute, four Altcoin projects are preparing to enter a Solana-type bull rally soon. While Solana is entertaining its investors, other Altcoins tend to follow his lead and break their own highs very soon. Details Cryptocoin. com.
Analyst’s 4 Altcoin projects
Altcoin projects are competing not only against Solana, but also against industry leaders like Bitcoin and Ethereum. Solana has impressed crypto enthusiasts. SOL price, at the time of writing, was $181.13, a 24-hour high of $193.31, a 24-hour trading volume of $7,134,269,678. However, other lesser-known altcoins have leveled up their game and have the potential to enter SOL’s bull run. We will list potential altcoins and capabilities that make them worthy competitors not only of SOL but also of industry leaders.
Phantom (FTM) according to analyst Vibhute
Phantom is an open source smart contract platform for Dapps and cryptocurrencies. The platform allows for faster transactions and costs less than a cent. FTM is based on the Proof-of-Stake model, so it provides a high amount of security, is highly scalable, EVM compatible, and developer friendly because the user can start building Phantom using Solidity. While Fantom offers a new De-Fi experience, an all-in-one De-Fi that allows consumers to print, trade, lend and borrow cryptocurrencies directly from the wallet, the fees are close to zero. The ecosystem has received vital upgrades. Added support for Fireblocks, FTM mainnet and ERC-20 tokens. Both are currently available at 500+ banks and other financial institutions using Fireblocks. Another major update is a simple yield aggregator that combines deposited tokens with more tokens.
Algorand (ALGO) according to analyst Vibhute
Algorand is a decentralized Blockchain-based network that supports a wide variety of applications. The system is secure, scalable and efficient. ALGO aims to speed up transactions and increase the efficiency of the platform. As the ecosystem is based on the Proof-of-Stake model, it offers faster transactions as well as not mining. Algorand has been carbon negative since 2021, according to its official website. The platform strengthens the adoption of sustainable NFT, national initiatives and advanced De-Fi. El-Salvador has signed an agreement for the government to base the blockchain on ALGO. Accordingly, De-Fi allows users to earn a return on crypto without depositing it in a bank and directing the fiat to an unattended high-yield savings account.
Analyst Vibhute’s other altcoin project Cosmos (ATOM)
Cosmos, which the makers call the internet of blockchains, is an ecosystem of interconnected applications and services built for decentralized applications. The platform offers a 99% lower carbon footprint and the transaction fee is $0.01. The platform offers Ethereum a gravity bridge that will be the most secure, efficient and decentralized cross-chain bridge. It allows assets to flow into the Ethereum ecosystem and vice versa. Cosmos offers a marketplace that hosts DEX, demands low fees when exchanging cross-chain assets, and enables faster transactions. The router enables inter-blockchain communication with compatible chains and decentralized bridges with chains such as ETH and BTC, enabling chains to be connected.
According to analyst Vibhute, Polkadot (DOT)
Polkadot is an open source multy-chain platform that facilitates the interoperability of multiple blockchains. It offers cross-chain transfer of all data types, including tokens. The ecosystem has 4 important components including: Relay chain helps to build consensus. Parachain are independent chains that can have their own tokens and can be optimized for specific uses. Parathread, these are similar to parachains but offer flexible connectivity. Bridges allow parachains and parathreads to connect and communicate with external Blockchains.
Ozedollarse, the altcoins listed above are among the platforms and other applications to base on that offer important capabilities to the ecosystem. Cryptocurrencies performed quite similarly to what we saw with Solana. ROI looks promising for the aforementioned altcoins as well.