So the Bitcoin halving has taken place. What now? Well if you believe the conventional wisdom and what Crypto Twitter says, we will have a Bitcoin season for a while then an Alt Season.
But will it happen like that? And whether it does or doesn’t, are some projects better positioned now after the halving? Yes, some are. And today, we have 3 altcoins for you in a great position to take advantage of the Bitcoin halving to grow further from here.
1) GraphLinq1 (GLQ)
Narratives are and continue to be an important part of good investment selection. And the AI narrative is not going away because Bitcoin had its halving. The story will only grow from here. So today I present Graphlinq. It’s a Layer 1 blockchain that makes building AI agents and AI dApps easier than ever.
Its 2 main products are the Graphlinq chain and then the Graphlinq Protocol. The difference is the Protocol is a set of no-code tools that anyone can use. You can create the type of AI apps or autonomous agents you want to do specific tasks. It makes the whole process of rolling out a new AI app easier than ever before.
Create your own Telegram price bot in just a few minutes without any coding 🤖
While most crypto Telegram bots are typically built using Python, with the GraphLinq IDE, anyone, even without any development skills, can create a Telegram bot that provides real-time updates on any… pic.twitter.com/iX9jbP2XUB
— GraphLinq Chain (@graphlinq_proto) April 24, 2024
Graphlinq’s $GLQ token has a burn program where all tokens minted since TGE to pay gas are burned. This helps contribute to a deflationary supply. Right now, 340 million of just under 500 million total supply are in circulation.
Returns for $GLQ have been crushing too. But we still see LOTS of room for more growth. In the past year, it’s up a mind-numbing 620%. But recent gains are more modest, so we see this as a good buying opportunity.
More About GraphLinq1
In the last 3 months, $GLQ did a 3x to go from 2c to 8c. Even better, in the last 30 days, it is down 49%. So it looks like the profit from the huge gains during the 2nd half of 2023 is now done. The bottom line is we like all AI projects that have a combo of:
- Growing audience.
- Ease of use tools to help with adoption.
- Good tokenomics.
- Providing infrastructure.
📢 We're excited to share that the GraphLinq Intent AI LLM Integration is now live! 🛠️ Try now at: https://t.co/9hkxR9ZnpV
Now automate smart-contract execution, trades, tracking tools, and much more like deploying a token on any EVM blockchain or more complex tasks like making… https://t.co/nJtJNXrcIF pic.twitter.com/ptoBRON7PO
— GraphLinq Chain (@graphlinq_proto) January 8, 2024
And Graphlinq does all these things at a current market value of only $31 million. TONS of room for growth here.
2) Stacks (STX)
Many Bitcoin ecosystem projects will benefit from the halving. First, it draws attention to Bitcoin. Second, it reminds people of Bitcoin’s scarcity. Third, both retail investors and new ETF investors are looking at Bitcoin ecosystem opportunities for additional money.
We could have picked an Ordinals project. We have a few we like. But we see the biggest ecosystem project still has the most opportunity. And that means Stacks. Stacks is the leading Bitcoin L2. You know we’ve talked about Stacks pretty consistently over the last year. It’s in our model 50X Master Portfolio. It’s moved up into the top 35 projects in market value. The price of its native token, STX, is up 169% in the last 12 months, which is about the same as Bitcoin.
Stacks is almost ready with its huge Nakamoto upgrade. It will add parallel processing, which is something we’ve seen before from some of the faster blockchains like Solana and Sui.
Nakamoto has begun rolling out 🧡
At Bitcoin block 840,360, the first fork kicked off the two-step rollout process that will bring us Nakamoto!
This means there's only one more step left before fast blocks, Bitcoin finality, and more are available to all!
Read more 🧵 1/6 pic.twitter.com/dvE0QkSlGt
— stacks.btc (@Stacks) April 22, 2024
This means not waiting for Bitcoin’s finality every 10 minutes when a transaction goes into a block. Instead, Stacks miners will be able to create blocks in between Bitcoin’s 10-minute blocks. This faster settlement time will make Stacks even more valuable to use in the same way we use Polygon or Optimism instead of Ethereum.
We don’t often talk about tech improvements here. What we care about is how tech improvements will make the project better, more valuable, or easier for us to use. And this improvement does all 3 throughout the Bitcoin ecosystem. It’s a classic win/win. And Stacks has lots of room to grow from here because of it.
With the Bitcoin halving now complete, everyone is turning their attention to $BTC DeFi.
There are huge opportunities for growth in this space and I think @Stacks are well positioned to capitalise. Here's why:
1. Nakamoto Mainnet is starting to rollout today and set to fully… pic.twitter.com/kKJXIDgkex
— Jake Pahor (@jake_pahor) April 22, 2024
What’s your favorite Bitcoin ecosystem project? Let us know in the comments below.
3) Polygon (MATIC)
Last, for today, we are going against the grain a little bit. It’s still a narrative we like. But the project has struggled over the last couple of months. Layer 1 chains and ETH Layer 2’s are taking a backseat to AI, RWA, and Liquid Staking Token protocols like Eigenlayer.
But one has just been hammered for seemingly no reason at all. It’s down 36%, 18%, and 41% in the last 30, 90, and 360 days. Yet it’s still a great project. Who am I talking about?Polygon.
Polygon’s new Aggregated Layer is about aggregated liquidity and access across many chains. But they all have Polygon and ZK tech support. The hope is that like TCP/IP for the internet, it runs in the background while you go to the site of your choice. But in our case, it’s the chain or dApp of choice.
Polygon PoS is for devs, for cooks, for users.
The recent Napoli upgrade activated RIP-7212 on Polygon PoS, paving the way for better UX w/ account abstraction and more design flexibility for devs.
Check out the deep-dive, here: https://t.co/1ojFkZexUA
Also, farewell to the…
— Polygon | Aggregated (@0xPolygon) March 27, 2024
It’s a big advancement that helps to unite many of Polygon’s L2 solutions like Hermez and zkEVM. Now developers can pick and choose what they want to use and when to make their apps and protocols the best they can be. Now let’s go back to the chart. The current price of 68 cents is the lowest price since late October. A potentially easy 2x just gets us back to the price in late February or early March.
This is a clear case of Polygon taking a hit because it’s an L1 and L2 and all of them are taking a hit. There’s no fundamental difference in Polygon now from 3 or 6 months ago. But instead of buying MATIC at $1.35, you can get it at 68 cents. That’s quality at a bargain to us.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
