Article: ROUTE 2 FI analyzes 8 cryptocurrencies worth watching in the current market. Despite the overall market downturn, these cryptocurrencies have shown strong momentum and are worth investors’ attention. The article provides detailed introductions of each currency and discusses their potential and future growth prospects.
Recently, the market experienced a major drop. Have you bought the dip?
I have increased my holdings in Ethereum. Although the price immediately dropped after my purchase, I still believe in the concept of long-term investment.
In the past few months, we have seen significant growth in the prices (and demand) of many cryptocurrencies. I believe we all started wondering which currencies we should include in our investment portfolios.
Today, I will provide a detailed introduction to 8 cryptocurrencies that I believe have strong momentum before the dip. This is not investment advice, and you should always manage your own risks and be responsible for your own funds.
Manta ($MANTA) is essentially a blockchain protocol aimed at providing decentralized data security and anonymity solutions. They can integrate with multiple blockchains such as Ethereum and Polkadot, allowing users to securely store and share their data using data masking and anonymity techniques. Manta also offers high scalability and low transaction fees, which have been long-standing issues for Ethereum. Some even refer to Manta as the Swiss Army Knife of data privacy and performance.
Ondo Finance ($ONDO) is an emerging giant in the realm of Real-World Assets (RWA). Supported by notable investors such as Founders Fund, Pantera, and Coinbase, $ONDO is leading the RWA narrative with over $200 million in assets under management, occupying a significant portion (approximately 40%) of tokenized securities. With partnerships with Mantle, Solana, and Polygon, they seem to be moving in the right direction of sustained growth. $ONDO offers various interesting products such as OUSG (tokenized BlackRock ETF), OMMF (tokenized BlackRock Money Market Fund), USDY (US Treasury-backed stablecoin), and Ondo Bridge.
Cartesi ($CTSI) is not new to the cryptocurrency space. In 2023, we saw Cartesi release many impressive developments and updates. Now in 2024, let’s see what achievements they have made and if they are enhancing their reputation as consistent builders. In a nutshell, Cartesi brings unique value to the cryptocurrency space, such as mainstream development toolchains and computational scalability. An interesting development is the Cartesi team hosting a BUIDLathon hackathon with a $15,000 prize pool, allowing developers to create fully decentralized applications using familiar programming stacks and libraries.
Dusk ($DUSK) is essentially privacy meets compliance, a unique L1 blockchain tailored for finance. A key factor in choosing Dusk is its privacy achieved through zero-knowledge proofs (ZK-proofs), aligning with the ZK narrative. Dusk is also built from scratch, ensuring complete control over security, native compliance features, and performance tailored for finance. As an L1, Dusk does not compromise on decentralization or security, which is crucial for trust in finance. Dusk is the first L1 with built-in privacy, where any wallet, transaction, or smart contract remains confidential. It has built a customized virtual machine to handle confidential transactions and complies with EU regulations such as MiCa, MiFid, and GDPR.
Restake Finance ($RSTK) is essentially an enhanced version of liquidity staking. As an LSD, users can stake ETH to earn POS rewards while also accessing their staked ETH in the form of LST (Liquidity Staking Tokens), in the case of $RSTK, rstETH. rstETH can also be used to earn additional rewards through other protocols. EigenLayer is an example where ETH validators can earn extra income through software modules on top of ETH. The strategy with $RSTK is to buy and stake $RSTK, and then come back after a few months to see the potential for significant growth.
OrdiSwap ($ORDS) has been quietly building while most of the hype has been around $SAVM in January. They have released their mainnet AMM on native BTC, and I firmly believe the current price does not align with its fundamentals. Technologies like $SAVM and $ORDS are paving the way for DeFi on Bitcoin, especially for $ORDS. It has tremendous potential, not to mention its excellent user interface/experience, where you can view top tokens, TVL, and fee analytics. OrdiSwap has the potential to become a top-tier automated market maker (AMM) on Bitcoin and is paving the way for DeFi on Bitcoin.
PYTH is an underrated price oracle that can be seen as a competitor to $LINK, but its fully diluted valuation (FDV) is only $4 billion. With the recent hype around ecosystem airdrops, there is speculation that $PYTH holders may qualify for these airdrops. It is essentially a price oracle, and its market data is among the best in its class. Many token projects, including popular ones like Drift Protocol, Parcl, MarginFi, and Zeta, extensively use $PYTH. It is worth noting that Drift Protocol has hinted at an airdrop, so while not confirmed, there is speculation that $PYTH holders may qualify. Overall, $PYTH looks like a strong buy signal, with analysts giving price targets over 50% higher than the current price.
SEI is essentially an L1 that redefines blockchain scalability and efficiency through parallel computing, leading the narrative of parallelized EVM. In the past 30 days, SEI’s price has skyrocketed by 200%. Parallel computing is the core concept behind these parallelized EVM narratives, involving the simultaneous use of computing resources to solve computational problems. This significantly improves the throughput of the blockchain. With the market continuing to saturate and new rollups emerging, as well as the ongoing issues in the global fee market, the L2-centric narrative will shift towards parallelized EVM. $SEI looks like a beta version of the next cycle on $SOL. SEI recently unlocked $89 million on January 15, and the next unlock will take some time, so now might be a good time to start buying slowly.
Please note that this translation has been done by OpenAI’s GPT-3 model, and while efforts have been made to ensure accuracy, there may be errors or mistranslations.
