In Search Of Altcoin Gems - Two New Altcoin Picks
Centrifuge
I recently began publishing some of my altcoin picks for the upcoming bull market. Initially, I am addressing micro-caps, as these for me provide the best risk/reward ratio. My first pick was Taraxa, which has gone on to soar as high as 1450% since I called it at $0.001. Today, I have prepared two altcoin picks for this article. The first is a somewhat larger cap but still has enormous upside potential due to its utility and categorization.
The second is another micro-cap, that appears to have bottomed in a similar way that Taraxa did, prior to my selection. However, let’s begin with the slightly larger project. Centrifuge is a project on Substrate. Those familiar with the Polkadot ecosystem might have heard of this one. Centrifuge is a DeFi-based project that is geared toward the financing and tokenization of real-world assets.
With 1211 assets tokenized and $456 million in assets financed, Centrifuge is beginning to make its mark. The current market cap of CFG is a little over $100 million, which is exceptionally low when you consider the tremendous future growth of this particular niche. CFG is currently trading at $0.28 at the time of writing and is available on several exchanges, including Gate.io.
Like many other altcoins, CFG has been hit hard by the bear market and has an all-time high of $15.98. It’s important to realize that CFG has already experienced a significant valuation and the tokenization of RWA is yet to gain traction. This is an area of Crypto that captured my attention over the past few years. I believe it is going to be one of the most powerful trends over the next three to five years.
Regular readers will be aware that I am quite sold on the concept of tokenization, and have addressed it multiple times, primarily addressing the tokenization of real estate and Ravencoin. This is also likely to be a late bloomer in the bull market, unless of course the tokenization narrative kicks in earlier than expected. CFG is still to print a believable bottom formation, and so I am personally on a journey of slow accumulation.
Paribus
If you are well acquainted with the Cardano ecosystem you might have heard the name Paribus, being mentioned. This is another project with a DeFi edge and is still very much a micro-cap project. I love micro-caps. The risk/reward ratio is amazing and I am happy to put minimal capital at risk if I am possibly able to secure some serious gains. Of course, to each his own.
Paribus is a cross-chain borrowing and lending protocol for NFTs, liquidity positions, and synthetic assets. Both Paribus and Centrifuge have a DeFi edge, coincidentally enough. Paribus is a typical micro-cap project with a market cap of $8 million, which is perfect for me. The upside can potentially be monstrous on solid projects that are identified below $ 20 million. Paribus is well-positioned for upside, provided it succeeds.
Unlike Centrifuge, PBX has put in a relatively convincing bottoming structure at $0.00057 and is currently trading at $0.00134. Even though the bottom appears to be in, I wouldn’t discount retesting the $0.00057 level. A more confident confirmation would be a break above $0.0025. However, I am happy to accumulate with that risk in mind. Both CFG and PBX offer staking opportunities, which is great!
It’s something I always look out for. If you snap up a future 100X, the staking rewards are mind-blowing when measured against your initial investment. This is imperative if you want to generate meaningful passive income. Paribus is very much in a similar position to what Taraxa was before it exploded, in terms of actual price, market cap, and a reasonable bottoming structure being in place.
Final Thoughts
Centrifuge is somewhat similar to Fuse Network, regarding a lengthy accumulation period, in my opinion. As I mentioned, concerning FUSE, I also believe CFG will provide a lengthy period of accumulation before explosive moves. At the end of the day, it all comes down to conviction. You either have it or you don’t. Both CFG and PBX are available on Gate.io. The $8 million market cap and low price tag of FUSE are rather attractive to me.
As always, these are my views and are the result of my own research. Please conduct your own research, and do not consider this investment advice. This is simply me sharing what I am up to in the investment world, and more specifically, micro-caps. Thanks for stopping by, enjoy the rest of your weekend, and see you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
