@SapphireCrypto 13 November 2023 more from that month

Solana-Based Altcoin Gems

**Maximizing The Layer 1 Effect** In a previous article, I addressed the layer 1 effect, and how powerful it can be. I also touched on this dynamic in the article entitled, **“The Polkadot Ecosystem – A “Silent” Performer In This Bull Market”**, which has gained a lot more attention than I had initially anticipated. I guess there are a lot more Polkadot fans out there! Solana, on the other hand, is currently gaining a lot of attention, as are the projects within its ecosystem. Unfortunately, many miss out on these gains, due to solely focusing on Solana. https://sapphirecrypto.org/2023/11/11/the-polkadot-ecosystem-a-silent-performer-in-this-bull-market/ The **layer 1** effect has a way of producing significant gains, and can also be a way to build up capital for a longer-term Solana position. The three projects I have lined up are **micro-caps**, which makes this list even more exciting, at least in my opinion. All three projects have a market cap of $100 million or less. So, without any further ado, let’s jump into the first potential gem. https://sapphirecrypto.org/2023/04/18/injective-protocol-a-new-layer-1-contender-is-up-900-in-2023/ https://sapphirecrypto.org/2023/07/28/key-aspects-of-investing-in-micro-caps/ **Raydium** **Raydium** is an old favorite of mine. I held it in the previous bull market, and it performed remarkably well. RAY surpassed the $15 mark in 2021 and is currently trading at $0.37. Raydium is perhaps, one of the leading **DEXs** on Solana and has a market cap of $91 million, at the time of writing. The daily trading volume of $11 million is also extremely healthy for such a small market cap. https://raydium.io/ https://inleo.io/@leoglossary/leoglossary-decentralized-exchange-dex

Image Source https://www.coingecko.com/en/coins/raydium Raydium is the largest of the three projects, in terms of **market cap**. However, it still has enormous potential, in terms of market share and price appreciation. According to CoinGecko, RAY is up by 130% over 30 days, with 98% of that taking place in the past 14 days. The remaining two projects outperform RAY throughout these time frames. RAY is available on the Raydium DEX, **Binance**, or **Gate.io**. https://inleo.io/@leoglossary/leoglossary-market-capitalization https://accounts.binance.com/register?ref=11978355 https://www.gate.io/signup/UwBNVg9Z?ref_type=103

Free Litecoin http://cointiply.com/r/me3o3 **Solanium** This is one that I should have closed in on earlier. I began monitoring SLIM at approximately $0.09, and today it briefly touched $0.173. A correction from BTC could however soon provide some great buying opportunities. BTC appears to be struggling to hold the $37K level. Even a retracement to $35K would provide a few great discounts. Either way, it’s still early days, and in hindsight, these will be seen as excellent levels of entry.

Image Source https://www.coingecko.com/en/coins/solanium **Solanium is a multichain launchpad** and currently has a market cap of $16 million, which is tiny. With $3.6 million in daily trading volume, it seems to be garnering some attention. SLIM has surged by a whopping 380% over the past 30 days and could be about to offer a few discounts. SLIM is available on Raydium and **MEXC**. I would be happy to grab a few SLIM below $0.13. https://www.solanium.io/ https://www.mexc.com/register?inviteCode=1MVmf

Free Solana https://satoshihero.com/register?r=6e3g5b26 **Decimated** My final pick is actually from a sector I don’t currently have any direct exposure to… gaming. **Decimated is a post-apocalyptic survival game** with elements of cyberpunk. It appears to be exceptionally packaged and the DIO **token** is currently trading at $0.021 with a market cap of $9 million. DIO has also been on a bit of a tear, fueled by the Solana rally. The DIO token has a daily trading volume of $160K, which is not too bad, considering the niche and market cap. https://decimated.net/ https://inleo.io/@leoglossary/leoglossary-token

Image Source https://www.coingecko.com/en/coins/decimated DIO has surged more than 300% over 30 days and is also looking to correct. As I mentioned, a sudden dip from BTC will most likely create several opportunities. There are several other Solana-based projects that I am still monitoring. However, I am yet to make a call on any of them. Considering that these projects have been receptive to the Solana rally, I would envision further correlation, at least to some degree. DIO is available on **Gate.io**. https://www.gate.io/signup/UwBNVg9Z?ref_type=103

Free Tron https://tronking.io/?ref=CoinCollector **Final Thoughts** It’s important to consider that these projects have all rallied significantly over the past month, and are most likely on the verge of a serious correction. Perhaps, a good opportunity, provided you DYOR. Furthermore, **the micro-cap sector is inherently risky**, so ensure you have done your due diligence. That’s it for this one. Catch you in the next one! https://sapphirecrypto.org/2023/07/05/micro-caps-identification-portfolio-allocation-risk-reward/

Free Avalanche (NEW) https://www.coinpayu.com/?r=Collector99 **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**. https://sapphirecrypto.org/2023/11/13/solana-based-altcoin-gems/