Analyst who hit STEPN's 35,000% high indicates 4 Web3-facing tokens with great bullish potential

Cryptocurrency expert who hit the rise of GMT, STEPN's native token, indicates 3 web-facing cryptocurrencies 3 that may rise due to their disruptive potential

The world of cryptocurrencies eagerly awaits bulls to resume the course of the price of Bitcoin (BTC), however, instead, Bitcoin has suffered a 12% loss since the beginning of April.

The main closest line of resistance to Bitcoin is at $48,234, a brand that, according to analysis, if surpassed, will probably take BTC again to $55,000.

However, according to Mike Ermolaev, head of PR at ChangeNOW, there are several factors that prevent bulls from resuming the course of BTC, among them the increasingly latent correlation of BTC with the stock market.

“The U.S. stock market profit season has begun, and things are getting off to a difficult start, with several Wall Street creditors reporting mixed results. The largest bank in the United States in assets, JP Morgan, has just reported a 42% loss in first quarter profits and expressed a bearish tone - pointing out significant geopolitical and economic challenges ahead related to inflation, supply chain difficulties and the ongoing conflict in Ukraine,"he said.

He also points out that the Federal Reserve has signaled that it will increase rates even more aggressively to combat rising inflation - putting even more pressure on stocks and, therefore, the cryptocurrency market.

According to him, the stock market seems destined to fall amid rising interest rates, slowing economic growth and limited global liquidity, but this does not necessarily mean a drastic drop for Bitcoin since investors' perception may change in a new economic scenario.

In addition, he points out that we may be entering a new BTC rally cycle that can see the price of the main cryptocurrency rise as stocks begin to fall and investors run away from them.

"This can lead to a drop in this correlation, and investors will once again see cryptocurrency as a hedge and diversifyr. The BTC chart shows a downward trend, which indicates that fewer currencies are available on exchanges, creating a scarcity effect, which supports the bullish movement and indicates that the buying pressure is increasing.

4 Web3-facing tokens with great high potential

However, according to Ermolaev, while BTC presents uncertain movements in the short term he points out that investors can turn their eyes to cryptoassets aimed at providing solutions for the Web3, which, as happened with play-to-earn games last year, has been attracting more and more attention from market experts.

Ermolaev was accurate, about 2 weeks ago, to predict that the demand for the GMT token of the move-to-earn application, STEPN, would have great potential for appreciation due to the attention that the game received after its debut on Binance.

Now, the analyst points out that the Checkout.com portal has released a report entitled "Demystifying Crypto", describing the results of surveys with more than 30,000 consumers and 3,000 financial technology companies around the world and providing a perspective for the adoption of cryptocurrency payments.

According to him, the adoption of cryptomeoda payments will increase this year, with companies building bridges between Web2 and Web3 playing a key role.

"As a result, Web3 projects are likely to gain momentum in the coming months, which will result in an increase in the value of your tokens. I believe in 3 potential tokens linked to the Web3 sector that are generating substantial protocol revenue and that I believe will be appreciated in the short and long term," he suaid.

Filecoin (FIL)

The first cryptocurrency on the analyst's list is the Filecoin protocol, which is an IPFS-based decentralized storage network, or Interplanetary File Storage. The project was developed to use unused storage around the world to create a low-cost storage market for users.

The goal is to ensure that the file storage is permanent and distributed over the Web. FIL is the native cryptocurrency of the decentralized storage network. Filecoin will be the payment method for those who want to access the storage. Nodes that provide storage to the network will be rewarded with Filecoin.

Helium (HNT)

The second cryptocurrency on the analyst's list is Helium (HNT) is a blockchain-based network that aims to provide solutions for the Internet of Things (IoT). Helium's core network allows low-power wireless devices to communicate and send data to each other.

Access points, which combine a wireless gateway with a blockchain mining device, act like nodes. HNT, Helium's native cryptocurrency token, is extracted and earned by users who operate nodes. The price of HNT has increased by 24.5% since last year.

Arweave (AR)

Third on the analyst is Arweave (AR) which is a decentralized network that aims to provide indefinite data storage. The network mainly hosts "the permaweb" - a permanent and decentralized web with various platforms and applications aimed at the community.

The HR established a DAO in January 2020, composed of members of the main community, to develop and expand its network and ecosystem.

Its main product is based on Arweave's "blockweave", a variation of blockchain technology in which each block is linked to the previous one and also to a random previous one. In doing so, Arweave states that more data will be stored, as miners will be able to access previous randomly generated blocks to create new ones and be rewarded.

In June 2020, it launched "profit-sharing tokens", allowing developers to receive dividends when network transaction fees are generated from their applications and hosts incubators focused on creating permaweb-based applications.

"Although AR is not rising so high due to difficult market conditions, it still recorded an annual gain of +7.18% against the dollar and surpassed BTC by +69.03% last year. The technology under development that promotes makes it very promising," he said.

Livepeer (LPT)

Finalizing Ermolaev's list is Livepeer, which is the first fully decentralized live video streaming network protocol. For new and existing transmission companies, the platform will provide an economically efficient blockchain-based alternative to centralized transmission solutions.

He points out that the platform allows developers to create video streaming applications and that it has been active on Ethereum's core network since May 2018 and runs by a decentralized network of node operators who hold tokens.

"The network provides video streaming to traditional and web3 formats at a lower price than existing cloud providers. The LPT showed a weekly gain of +2.70% and surpassed bitcoin by 21.04%," he concluded.