5 Underrated Cryptocurrencies with Potential for Major Gains
The crypto space is one filled with thousands of cryptocurrencies. It can be hard for an investor to know which coins are ideal to invest in for the long haul. With crypto-assets, volatility plays a major role, and it is among the reasons many people choose to stay away from this sector.
However, there are several factors that an investor could take into consideration when assessing the top crypto assets to invest in. One of these factors is looking for underrated coins and those that show potential for long-term gains. Such coins might fail to offer high returns in the short term, but they could end up making worthy investments in the long haul.
Some of the 5 most underrated coins in the market with great long term potential include the following:
1) Chainlink (LINK)
Chainlink is one of the oldest cryptocurrencies in the market. The token is popular because of its oracle nodes that bring interoperability between different blockchains. Through Chainlink, blockchains can interact with each other, and this creates a seamless flow of information.
Interoperability is one of the key features that all blockchains are looking for because it attracts a larger audience that does not want to be limited by the functionality of a single blockchain. Therefore, the Chainlink blockchain has the potential to gain much usability in the future.
Moreover, the boom of decentralized finance (DeFi) could also create more usage for the Chainlink platform. Chainlink is popular because of its on-chain price feeds that allow DeFi developers to catch the real-time prices of tokens across the market. These price feeds have become a common feature of every major blockchain, and Chainlink is gaining adoption because of this.
Most of the top blockchains that offer DeFi services have supported Chainlink price feeds, including Solana, which recently launched this feature on its blockchain after experiencing major adoption from DeFi developers.
Chainlink is currently ranking as the 16th largest cryptocurrency by market cap, and as one of the oldest coins in the market, it makes for one of the reliable choices. With the potential of Chainlink’s technology, the LINK token makes for a good investment for the long haul.
To learn more visit our Investing in Chainlink guide.
2) Litecoin (LTC)
The other coin that also comes in as underrated is Litecoin. Litecoin is also one of the oldest cryptocurrencies in the market. However, it has failed to achieve the major levels of growth that have been achieved by new coins. Nevertheless, it has much potential for being a worthy investment for the long term.
Currently, the crypto space is shifting as it is starting to attract institutional investors. These investors prefer to invest in coins that have been in the market for a long time and show positive signs of growth in the long term.
The financial world is slowly starting to accept cryptocurrencies for payments, and Litecoin is among the few that have positioned themselves as acceptable in this use case. Therefore, the token is poised to make major gains in the future because demand for it could increase and lead to major price gains.
Litecoin is currently ranking as the 14th largest cryptocurrency with a market capitalization of over $18 billion. If its demand skyrockets, it could enter the top ten ranking in the coming months, making for a good investment for the long term.
To learn more visit our Investing in Litecoin guide.
XRP was one of the top coins during the early years of the crypto space. However, it failed to rise to notable highs this year after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple’s executives, charging them with an unregistered securities offering.
The lawsuit dealt a major blow to XRP, as the token was unlisted from top cryptocurrency exchange platforms, including Coinbase. However, despite the developments in the case, XRP is still showing signs of making major gains.
XRP is currently one of the cheap tokens in the market that have a strong technological backing. Ripple is one of the largest networks in the market that offer payment services to its clients. Through RippleX, the firm has made strategic partnerships with some leading payments firms, including GME Remittance.
The other major area where Ripple’s technology has found a strong footing is in central bank digital currencies (CBDCs). Recently, Ripple was selected by the Bank of England to be among the stakeholders involved in the research for developing a digital pound.
Currently, Ripple is ranking as the seventh-largest cryptocurrency with a market cap of above $55 billion. With its strong technological backing, XRP makes for one of the best investments in the long term. However, the outcome of the company’s lawsuit with the SEC will also determine if XRP makes for a good investment in the long term.
To learn more visit our Investing in Ripple guide.
4) Cardano (ADA)
The other coin that also comes in as underrated is Cardano. Cardano is one of the top cryptocurrencies in the market, but its low price and slow price gains have deterred investors from choosing it.
Cardano recently launched the Alonzo hard form upgrade aimed at bringing smart contracts to the Cardano platform. This is one of the key factors contributing to the gains that this token could make in the long haul.
Cardano is also one of the oldest coins, and with the support of smart contracts, the network could attract DeFi developers, which will create demand for the ADA token and lead to high demand and major price gains. DeFi is currently booming, and with smart contracts comes to increase usability for a blockchain.
Cardano is currently ranking as the 6th largest cryptocurrency with a market capitalization of over $65 billion. It is also among the cheapest coins in the top ten rankings, allowing an investor to buy more coins and make major gains in the long term.
To learn more visit our Investing in Cardano guide.
5) Fantom (FTM)
When it comes to top DeFi networks, the few that come to mind are Ethereum and Solana. However, other networks come in as highly underrated despite offering high speeds and low transaction costs, making them ideal for DeFi developers. One of these networks is Fantom.
Fantom is a smart contracts platform that allows developers to build DeFi applications. This network aims at solving the issue of scalability faced by other networks, and if it manages to prove this point and attract a lot of DeFi developers, it could be headed towards major price gains in the future.
DeFi is booming, and developers are constantly looking for new platforms where they can create their projects. With the adoption of the Fantom network, FTM tokens could see major price gains, and it could head towards major record highs.
Developers of the Fantom network state that transaction speeds have been lowered to as low as two seconds, and with DeFi developers looking for such speeds, more could build on the network, which could give the token a label of being one of Ethereum’s competitors.
Fantom has a market capitalization of over $6 billion, and it ranks as the 38th largest cryptocurrency by this metric.
To learn more visit our Investing in Fantom guide.
Cryptocurrencies have been making major price gains, but some coins have remained highly underrated despite playing an integral role in the crypto and blockchain spaces. The above coins have a strong technological backing, making them ideal investments for the long haul.
However, it is still important to note that new cryptocurrencies can also make major price gains. The crypto space is also growing fast, which could introduce even more coins to the market.