Don’t BE FOOLED! Just because something is low priced does NOT mean it is a great value. Some low-priced projects are JUNK. And some low-priced projects are down in price ONLY because the bear market is dragging everything down with it.
Can you tell the difference? Well today, I’m going to show you 4 altcoin gems I like that are undervalued in this market. Want to see who made the cut and who didn’t? Then let’s go.
Coin #1: Lossless
Lossless helps blockchains deal with hacks, thefts, and other shady characters. They currently support 6 blockchains: ETH, BNB Chain, Polygon, AVAX, Harmony, and Fantom. So, Lossless calls what it does use ‘threat identification tools’ to help protect ERC-20 token transactions.
Its best-known feature is the ability to freeze transactions so that hackers can’t bleed a protocol dry. Hackers hack and then just keep transferring those coins to mixers and DeFi protocols to try to get people off their paper trail of transactions.
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— Lossless @ Devcon 🇨🇴 (@losslessdefi) September 29, 2022
Why do we Think Lossless It’s Undervalued?
First, its market value is only $11 million putting it at #864 according to CoinGecko. And yet they are the only 3rd party that can freeze an ERC-20 transaction. A centralized issuer like Tether for USDT or Circle for USDC can freeze a transaction or blacklist an account. Yet the only non-issuer who can help with thefts right now is Lossless.
So, they have a monopoly position at an $11 million value. They’ve already protected $23 million worth of transaction dollars, more than double what the token is worth. I also like that most of their total supply, 57%, is already circulating so no overhang of a huge release of coins into the market.
Coin #2: Efinity
Efinity is one of our favorites. Efinity’s goal is to use Polkadot’s interoperability features to bring NFTs across many chains. The Enjin team, who helped pioneer NFTs, is behind Efinity too. In fact, Enjin helped develop the ERC-1155 NFT standard we all use now.
As the problem-solving team that they are, they saw a need for a faster blockchain for transacting NFTs than ETH and created Efinity for this purpose. Aside from that, they operate on Polkadot’s 6th parachain and we like DOT’s strategy now and long term.
Why do We think Efinity It’s Undervalued?
First, the price of EFI, its native token, at a recent high in April was at 46 cents. Today, it trades at 11 cents. So the 4x possibility just to get back to where it was 6 months ago is very realistic even if I DID NOT think there is lots of room to grow from there.
"In-game skins, loot, or even saved data, all represent the time and effort invested. Changing platforms or devices shouldn’t imply a forfeit of your hard work." 🤔 🤔
Next-gen gaming 🎮 Where your effort is respected in each new world.https://t.co/AcakrwXN0p
— Enjin I We're Hiring 🙌 (@enjin) October 5, 2022
And there is lots of room to grow from here. We like their partnership with Final Fantasy and others that we’ve mentioned in other videos. Here are other reasons:
- They are in the right industry: NFTs
- They are in the right niche within it: Interoperability
- They are in one of the best ecosystems for these goals: Polkadot
And then there’s other stuff like a partnership with Grand Theft Auto V with Enjin and MyMetaverse. Finally, at a $55 million value and rank #381 in the crypto economy, I can only see an upside from here.
The most popular places to buy Efinity’s $EFI Token are BTCEX and Crypto.com. What do you think of Efinity? Are you bullish on NFTs? Let us know in the comments.
Coin #3: NFTrade
NFTD, the token of NFTrade is my next undervalued coin. Once the market for NFTs started to grow last year, one aspect of their ‘non-fungible’-ness started to become a problem. The problem is, if each one is unique how can we trade them, or do we just have to sell them outright to someone? Or can we trade it for an NFT from some other collection? And how can we agree on a value for that?
It’s not like a fungible coin where the value is $20k for 1 Bitcoin regardless of its origins or who held it last. Well, NFTrade proposes a solution to this problem with its cross-chain NFT trading platform. OpenSea is a marketplace only for ETH NFTs. ETH is still the biggest chain for NFTs but that’s limiting. NFTrade supports 6 chains:
- BNB Smart Chain
- And Immutable X (still in its beta stage)
On OpenSea, you can only buy and sell. Here you can trade and farm with them too.
3…2…1.. Lift off!🚀 NFTrade 2.0 is now LIVE!https://t.co/P0gNj6s73q
— NFTrade (@NFTradeOfficial) September 15, 2022
Why do We Think NFTrade It’s Undervalued?
It’s pretty simple, really. If you are bullish on NFTs, then you need to be bullish on marketplaces that offer flexibility like NFTrade. People will ALWAYS change their minds. And an NFT degen is much more likely to want to trade than just sell or do the 2 transactions of selling one and then buying another. It just makes sense, right?
Then on the valuation side of things, while OpenSea is the undisputed leader, NFTrade is a leader in offering the benefits of trading and farming your NFTs. Yet it’s a bargain. The current value is $2.4 million ranked #1589. Its recent high in April was 78 cents and today it trades at 6.6 cents. So that’s a 13x just to get back where it was.
And as you know, small projects can be 10x and 50x more easily than big projects with a huge asset base like Bitcoin or Ethereum can. That is if you pick the right one. You can buy NFTrade’s $NFTd on Uniswap, PancakeSwap, MEXC, among others.
Coin #4: Dark Frontiers
Dark Frontiers is a metaverse and space-themed game. One of its unique features among NFT games is you can mint and burn NFTs here including merging 2 of your NFTs into a rarer and more valuable NFT. The game is play to earn (P2E).
Why do We Think It’s Undervalued?
First, we like they are using the Binance NFT marketplace as a way to get more people involved and playing. It’s not just a good move to get more players, it’s a great marketing decision too. Binance will invest some resources to make sure its NFT listings do well.
Second, we like that we are super early. The full game is not out yet but you can start playing with your NFTs and get early access before year-end, per their Roadmap.
— Dark Frontiers (@DarkFrontiersGS) October 6, 2022
Its native token, DARK, had its recent high in April was 30 cents, while today it trades at 3.9 cents. So that’s a 9x just to get back to where it was 6 months ago. You can also stake the $DARK token and make some $$ while helping to secure the network. It’s currently offered at an eye-popping 5364% APY.
And that’s our look at 4 Undervalued projects and their coins. One is based on security and the other 3 are based on the NFT part of the crypto economy. What projects do you like right now? Let us know in the comments.
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