Experts have named cryptocurrencies that may show high returns in the coming months amid the recovery of the digital asset market
The opinions of experts may not coincide with the position of the editorial board. RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
On September 6, the price of bitcoin for the first time since mid-May exceeded $ 52 thousand. Against the background of the growth of the first cryptocurrency, altcoins are also becoming more expensive. For example, over the past week, the cost of Ethereum increased by 22% and reached $ 4 thousand. Over the same period, the Ripple (XRP) rate increased by 21%. Experts from RBC-Crypto have identified altcoins that may grow significantly by the end of this year.
The altcoin market has not yet exhausted the growth potential that the crypto industry managed to accumulate last and this year, says Nikita Soshnikov, director of the Alfacash cryptocurrency exchange service. According to him, against this background, one can expect the growth of individual altcoins and an increase in the capitalization of the alternative coins market as a whole.
The expert does not expect strong growth this year, since the growth of bitcoin hinders this. Soshnikov recalled that the rapid soars of altcoin quotes are observed in the conditions of the sideways movement of bitcoin.
“Growth has resumed, and a new powerful wave of Bitcoin growth is expected in the fall, so market participants are unlikely to choose to leave a reliable asset in order to enter more risky alts,” the expert explained.
What tokens to invest in
Blockchain platform tokens are promising at the moment NEO, Tron (TRX), EOS and VeChain (VET), said the leading analyst at 8848 Invest Viktor Pershikov. According to his forecast, by the end of this year, these tokens may show a yield of 50-100%. The analyst also recalled the sector of anonymous coins (XMR, Dash and Zcash). According to Pershikov, this sector is clearly lagging behind the dynamics of the entire crypto market and by the end of the year will start catching up with it.
Growth by the end of the year will still show the project Cardano, which is preparing for the implementation of smart contracts, and other similar projects, for example, Solana and Polkadot, says Soshnikov. According to him, attention should also be paid to the token of a decentralized cryptoexchange. Uniswap, which is under pressure and is undervalued due to the investigation initiated by the US Securities and Exchange Commission (SEC) against the trading platform.
On September 12, the Alonzo update will take place on the Cardano network, which will add support for smart contracts to the blockchain. This will allow developers to build decentralized applications (dApps).
Financial analyst at Currency.com cryptoexchange Mikhail Karkhalev advised to pay attention to Ripple (XRP) and Dash, which in the current year have not yet updated their historical highs, despite the growth of the crypto market.
Should we expect the recovery of all altcoins?
Not all altcoins, which were actively rising in price in the spring, will seek to renew the highs again this fall, Pershikov warned. Soshnikov also agreed with him, adding that the altcoin market is not a mass of monotonous coins, but a “constellation” of several thousand unique blockchain projects.
“Some will logically grow, some will remain at the same level, and some will collapse and disappear from the horizon,” explained the director of the cryptocurrency exchange service Alfacash.
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