Analysts are confident that the digital money market is at the beginning of a new wave of growth. Experts told which projects are undervalued, and why they are worth paying attention to
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Since the beginning of 2020, the capitalization of the crypto market has grown almost 2.5 times to the current $456 billion. But many projects remain undervalued, and digital money has prospects for further growth. RBC-Crypto asked experts to tell which cryptocurrencies are worth paying attention to in order to consider them for purchase right now.
TON, Tron and OMG
Alexander Khvoynitsky, Marketing director of the Chatex cryptocurrency p2p platform, named the FreeTON blockchain with the native TON Crystal token, a young platform at the beginning of development, among the most undervalued cryptocurrencies. You can buy tokens only on a few exchanges, the currency is just beginning its journey.
The launch of an alternative version of the main Telegram Open Network called Free TON took place on May 7. It was organized by independent developers, large validators and other participants. These include TON Labs, Certus.one, P2P.org, Kuna, Everstake, Chorus, Bitscale Capital, Simplex, Ceo.io and others. Instead of Gram, which Pavel Durov planned to release, Free TON presented free TON Crystal tokens, the total issue of which is 5 billion pieces. 85% of this amount is intended for free distribution to partners and network users, 10% to developers, the remaining 5% to network validators who perform the function of confirming transactions.
The next undervalued currency that Khvoynitsky suggested paying attention to is TRON. The expert called the project a younger analogue of Ethereum. He is already known to many, the asset is now of great interest to market participants. But the project is criticized for its high centralization and aggressive marketing campaign. For example, the founder of the company Justin Sun advertised his summit against the background of the death of the legendary basketball player Kobe Bryant, which caused a strong negative reaction.
The third altcoin that should be considered for purchase, the expert called Dash. In some countries, it is already a digital currency: it is accepted for payment in Southeast Asia, as well as in Venezuela, where it is especially popular.
The specialist also recommended paying attention to the OMG protocol, which allows you to exchange fiat currencies for cryptocurrencies. It works on the basis of the Ethereum blockchain and is especially common in Japan, Singapore, and South Korea. According to Khvoynitsky, Waves is also interesting — a decentralized platform on which each participant can create their own digital assets. This is the Russian blockchain, on the basis of which several projects have already been released, for example, the "state blockchain" Vostok.
Smart contracts and payment cards
Director of Business Development of MonolithosDAO Dmitry Kryshtal briefly listed his rating of undervalued coins:
PERP - Perpetual Protocol - futures "with leverage", received investment from Binance Labs;
NXM - Nexus Mutual - smart contract insurance;
SXP - Swipe wallet + payment cards;
MDT - Monolith is a management token of a new project, it is planned to launch voting and building the work of the community;
FARM - Harvest Finance - after hacking, the course "flew down", now the project is recovering losses without stopping work.
Bitcoin, Ethereum, Monero
EXANTE co-founder Anatoly Knyazev listed three major projects that deserve attention. In his opinion, the most undervalued cryptocurrencies are Bitcoin, Ethereum and Monero (an altcoin with a capitalization of over $ 2 billion).
Bitcoin is the number one cryptocurrency. It has risen in price by about half in a year. Usually, BTC for such a rise in price is enough to increase the global user base, but this year there were other growth factors: halving, an increase in the global dollar mass, a rapid recovery of the cryptocurrency market after the March fall.The potential of these factors is probably not fully exhausted yet, so they will add value to BTC in the coming months, the expert believes.
Ethereum is the second most popular and capitalized cryptocurrency. The token has been considered undervalued by many since 2018 after the ICO bubble deflated. In 2020, ETH has strengthened more than BTC. This is partly a consequence of the sharply increased popularity of the DeFi sector, in which the ETH network is often used. But for the same reason, in October, the ETH exchange rate was under pressure from investors' concerns in connection with the measures of individual states against DeFi. Even Ethereum reacted more restrained than BTC, LTC and BCH to the news of acceptance into a PayPal account. But now the change of administration in the White House gives hope for liberalization, and interest in DeFi, and with it ETH, can begin to grow rapidly, Kiriyenko suggested.
Monero is the most popular of anonymous cryptocurrencies. The popularization of such projects is hindered by its exclusion from many large crypto exchanges under pressure from the authorities. Now BTC dominates in network calculations, including the darknet. But as the state's control over classic cryptocurrencies increases (especially those accepted on the US commodity exchanges BTC and ETH), the incomplete confidentiality of BTC suits fewer and fewer users. XMR is the most popular token among those that allow you to protect the anonymity of the user.
Growth potential from 20% to 60%
The leading analyst of 8848 Invest, Viktor Pershikov, at the end of 2020, attributed tokens that are part of successful sectors, but did not demonstrate significant growth, to the most undervalued coins. According to Pershikov, they may still rise in price before the end of the year. He named the growth potential of each of the coins in the coming months:
EOS — 30%. A direct competitor of Ethereum has attempted to grow during the year, but now it is trading weaker than ETH, at the level of the beginning of 2020. This platform is fundamentally interesting, so the expert recommends buying it with an eye to growth in the near future.
LTC — 50-60%. Litecoin has grown since the beginning of the year, but in comparison with bitcoin and some other cryptocurrencies it looks undervalued. Against the background of market growth, Pershikov expects the coin to be capitalized and reach the level of $90-100 in the near future.
BAT — 50%. The token of the Basic Attention Token platform first managed to double in price this year, but in the second half of the year it lost all growth. Both within the framework of DeFi and within the framework of the development of the Brave browser from the developer, the project and the token remain investment attractive, the specialist believes.
XRP — 30%. Ripple has been actively promoting its project among financial institutions and partners for several years, but for fundamental reasons, the token does not show significant growth. But before the end of the year, it still has a chance to grow together with the entire market, the analyst predicted.
HT — 20%. The token of the Huobi exchange, which is experiencing difficulties with the regulator, remains one of the leaders of the sector, along with BNB. By the end of the year, the token can demonstrate growth, especially against the background of resolving legal issues.
