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Thousands of cryptocurrencies now exist.
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It can be difficult to pick winners in such a saturated space.
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Insider has asked several experts about where they see the biggest opportunities in altcoins.
Cryptocurrencies have exploded in popularity over the last several months. Of course, the most popular remains bitcoin.
But some other smaller cryptos are gaining serious steam as well, as the concept of digital currencies continues to seep into the public consciousness.
However, it can be difficult to know which cryptocurrencies to invest in, or whether you should in the first place. There are currently thousands of different types of coins on the market. And some – like dogecoin, which was founded as a joke – don’t appear to be serious. Others, like some built on the Ethereum blockchain, appear to have better use cases.
Crypto is an esoteric domain – its intricacies can be difficult to understand, especially for those new to the space.
To help cut through the noise, Insider has talked to several experts about which altcoins – cryptocurrencies other than bitcoin – they believe have the best upside. These experts also described the fundamentals and technicals that make these altcoins attractive. Their views are shared in the articles below.
Ran Neuner, the cofounder and CEO of blockchain investment fund Onchain Capital, is very excited about one crypto right now: solana (SOL). He told us why the ethereum competitor could be the biggest opportunity in crypto since 2018.
Crypto technical analyst Adrian Zduńczyk says some altcoins due to outperform bitcoin in a “legendary” way. Zduńczyk is the founder and CEO of the Birb Nest, a trading platform. He shared five altcoins with us that he thinks could surge 10-100 times.
Ethereum is the second-biggest cryptocurrency at the moment, sitting behind bitcoin. But it has problems like expensive transaction fees. Matthew Sigel, head of digital asset research at VanEck, shares three altcoins to rival ether.
Ethereum’s major upgrade in early August led to a 9.6% intraday price spike, and investors haven’t yet sold the positive news. That’s one reason why David Gokhshtein is bullish. He also told us his theses for six smaller altcoins he owns.
Various cryptos tumbled on Tuesday September 7 as El Salvador officially adopted bitcoin as legal tender. By the following morning, more than $3.25 billion in crypto positions had been liquidated over 24 hours, affecting more than 300,000 traders, according to Bybit. We asked experts what was driving the sell-off, and where they recommended buying dips.
When dogecoin rose over 12,000% to $0.68 earlier this year, it shocked the investing community. It has since cooled off, though its price has picked up in recent weeks. It now sits around $.027. What will it do next? Chainalysis chief economist Philip Gradwell broke down why he think it will go to $1.
Insider recently hosted a live webcast featuring two crypto experts. They broke down their views on everything from the recent slump to the possibility of regulation.
Lyn Alden says most altcoins are “smoke and mirrors.” But there are at least two with interesting technologies that are worth watching.
As some altcoins have shown, there is potential for huge appreciation in crypto outside of bitcoin. David Gokhshtein is one investor that’s looking to take advantage of these opportunities. He shared two altcoins he’s bullish on.
The broader crypto space just went through a rough patch after huge gains earlier this year. Like any asset class, it has its bull and bear markets. When crypto bear markets do come, crypto influencers Mack Lorden and Lucas Dimos told us that six altcoins in particular help them hedge losses.
Many altcoins are built on top of the Ethereum blockchain. Aya Kantorovich, the head of institutional coverage at crypto exchange FalconX, shared nine coins built on top of the ethereum blockchain that she thinks have solid use cases.
“I personally always like coins with application,” Kantorovich said.
Read the original article on Business Insider