Crypto markets are continuing their downward slide. However, this has happened many times before, and there is nothing different about this market crash.
An overheated market and a good dose of FOMO have driven many altcoins to new peaks over the past month or two. Naturally, those that rose the fastest are also likely to fall the fastest. But one thing is for sure, and that is the rebound. Some altcoins will perform better than others when markets pick themselves up again. So here is our pick of the top five profitable coins.
Polkadot – DOT
Even with the massive slump, DOT is still trading over 500% higher than it was in the latter half of 2020. The Polkadot ecosystem is growing at a rapid pace, and the demand for high-speed, low-cost blockchain transactions is higher than ever.
The final parachain launch is imminent, and this is likely to drive momentum for DOT, making it potentially one of the first to recover from the current downturn.
Uniswap – UNI
Uniswap’s governance token has also taken a hit, but that could all change quickly when the DEX enables Layer 2 scaling on its version 3 platform. This could happen anytime in the next couple of months. The prospect of further liquidity farming incentives could be a major catalyst for UNI prices going forward.
Enjin Coin – ENJ
There is no doubt that NFTs and gaming have been in the driver’s seat for the crypto industry in 2021. Enjin Coin has been around for a long time and has been making solid progress with partnerships and platform development. Therefore, it stands to reason that ENJ could be one to watch in the rebound.
Polygon – MATIC
There is no underestimating the demand for Layer 2 Ethereum scaling, and Polygon (formerly known as Matic) has gained massive traction recently. The platform is a Layer 2 aggregator which supports different types of L2 technologies. In recent months, several platforms, including SushiSwap, Infura, mStable, Curve Finance, Aave, Decentraland, and Atari, have launched on Polygon or partnered with it. The MATIC token will be one to watch.
Crypto.com Coin – CRO
Last on our list of profitable coins is Crypto.com, which has evolved from a wallet into a multi-faceted platform serving the entire industry. Following its March mainnet launch, the platform has gone all-in on DeFi and NFTs with a number of major partnerships, including the New York Stock Exchange (NYSE) and Chainalysis.
With the DeFi and NFT momentum set to continue, the platform’s CRO token could be propelled to new peaks when markets recover.
These five altcoins, among others, may be the first to start the momentum along with these five trends that are likely to emerge from the current market slump.
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