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The crypto market has been taking heavy hits when it comes to the price of its altcoins ever since November of last year. With August 2022 about to start, many are hoping that the end of the summer will mark the end of the bear market and the start of a new bull run. Of course, there is no way to actually know whether that will happen or not, but the crypto community remains hopeful.
With that said, many are also considering which cryptocurrencies would be good investments if the market does turn suddenly and the prices start going up. The search for the breakout altcoins is nothing new — in fact, it has been a part of the industry since the altcoins started to emerge. We took a look as well and selected the following 13 cryptos as coins worth considering.
The first on our list is Elastos, which is a project that aims to be the blockchain-powered version of the internet. It emerged all the way back in 2000, but it only switched to blockchain in 2017. Since then, the team has been working on solving the scalability issues, as it believes that this is one of the largest obstacles that most projects are facing.
As a result, Elastos became a great platform for dApps and smart contracts, as it claims to have successfully solved the limitations that the rest of the industry is still suffering from.
To learn more visit our Investing in Elastos guide.
2. Aleph Zero
Moving on, we have Aleph Zero, which is a privacy-enhancing PoS public blockchain with instant finality. It is an enterprise-ready, high-performance network that uses a DAG-based consensus protocol that was peer-reviewed and presented at an ACM conference.
The project has raised over $15 million for continued development. It integrated with the Substrate stack, and it significantly expanded its team. Initially, it emerged in 2018, bootstrapped by the founding team and family and friends who participated in the pre-seed round. However, it also held a successful public presale, community round, and public sale in 2021, with its mainnet finally going live on November 10th, 2021 — only a day before the bear market hit. This is why we believe that the project never had a chance to reach its full potential and that it is bound to go for it after the bears withdraw.
To learn more visit our Investing in Aleph Zero guide.
In the third spot, we have Radicle, which is an open-source protocol that allows developers to work together in a P2P, decentralized manner. Similar to centrlized code collaboration platforms like GitLab and GitHub, the developers get to work together to develop code and use it to build dApps.
The project was structured in a way that retains Git’s efficiency, while simultaneously offering global decentralized data repository storage using a P2P networking layer. Users can also fund and manage various software projects that others have started, or use “gossip” to spread data, and obtain redundant copies on their own computers. It is a new style of joining and supporting the development, and we are quite interested to see how it plays out.
To learn more visit our Investing in Radicle guide.
Coming in as our fourth pick, we have Rarible. This is a creator-centric NFT marketplace and issuance platform. The platform relies on its own RARI token to empower users who try to actively interact with the protocol. The platform’s users can create NFTs for unique digital items, such as in-game items, works of art, and alike.
The project also has its own marketplace, filtered and sorted with different categories available so that users could easily navigate it and have a smooth and enjoyable UX. Anyone can come here and create or post NFTs, with the RARI token being a fundamental pillar of the platform that is used for rewarding activity and participating in the project’s governance.
To learn more visit our Investing in Rarible guide.
In the fifth spot, we have Goldfinch, which is a global credit protocol that features sustainable, high-quality stablecoin yields. The yields are generated by real-world economic activity, which allows them protection from the regular volatility involved with DeFi protocols.
Meanwhile, the project also has its own native token, GFI, based on the Ethereum network. This is its governance token that is used to make DeFi lending more accessible by enabling loans that can use on and off-chain collateral alike. The project calls itself the missing piece that finally unlocks crypto lending for most people in the world, and so far, it claims to have over 200,000 borrowers and that its users are drawn by the stable 10%+ yield.
To learn more visit our Investing in Goldfinch guide.
The sixth on our list is a project called Augur, which was created in order to harness the wisdom of the crowd by using prediction markets on a protocol that is entirely decentralized, owned and operated by the holders of the Ethereum-based Reputation token, REP. Essentially, the project allows access to markets where users can bet on the outcomes of various events, thus sharing their views of what those outcomes will be.
This can include anything, from company performance to election results, natural phenomena, and more. The users buy shares in support of the proposed outcome or those that refute it and in doing so, give an insight into what the crowd expects to see happening.
7. Injective Protocol
Halfway down the list, we have the Injective protocol, which enables access to unlimited decentralized finance markets. Basically, users can create any financial market using the project’s cross-chain, zero gas fee, secure, and fully decentralized exchange protocol that also features massive speeds.
The project was specially created to support Ethereum-compatible DeFi applications that can reach instant finality, with under 2-second block time and over 10,000 TPS. Furthermore, the project’s trading infrastructure is entirely supported by a central limit order book with a user-friendly UI and all the benefits of decentralized exchanges.
To learn more visit our Investing in Injective protocol guide.
Next up, we have Siacoin, which is a native token of a blockchain-based, distributed, decentralized cloud storage platform, Sia. This is a secure, trustless marketplace for cloud storage, which allows users to contribute their unused storage space and offer it to those who need it. In exchange, of course, storage providers get rewarded while the project makes a step towards becoming the backbone storage layer of the internet.
Sia intends to stand as a decentralized competition of existing storage solution providers, such as Google, Microsoft, and Amazon. And while it has a long road to travel to become big enough to actually be its challenger, it is taking steps that will ultimately lead it there.
To learn more visit our Investing in Siacoin guide.
BinaryX is an interesting project that created a P2E game called CyberDragon. The game and the project run on BSC, but initially, this was supposed to be a decentralized derivative trading protocol. With the explosion of the GameFi sector, however, the project decided to change its entire concept.
Now, it is in the process of developing a metaverse game, which will be a classic MMORPG featuring DeFi elements and NFTs. Players will be able to play it as a PvE or a PvP, earn income from playing the game, and strive towards the ultimate goal of defeating the cyber dragon.
To learn more visit our Investing in BinaryX guide.
The tenth on the list is BarnBridge, which is a protocol for tokenizing risks. Essentially, it acts as a sort of DeFi lego for creating tradeable tokens that will purposefully expose consumers to market volatility. As such, it aims to expand the functionality of DeFi, make it more efficient and flexible, and tokenize market fluctuations and exposure to risks.
It hopes that it will reduce volatility as a result, and make it easier for conservative investors to join. It offers risk management tools, fixed income instruments, and other benefits, while its main focus is dividing crypto risks into trenches so market participants can invest in various assets and products.
To learn more visit our Investing in BarnBridge guide.
Moving on, we have an Ethereum-based project called Loopring, which is an open protocol that was created for the creation of DEXes. Essentially, the project’s team took a look at the market back in 2020, finding that the average daily trading volume of the crypto industry market fluctuated in the approximate range of $50-200 million. Most of this trading went through centralized exchanges.
However, during the same year, DeFi emerged with capable DEXes, and the project decided that more of them is required. Unfortunately, they had their own flaws, so Loopring started working on developing trading platforms that would have the benefits of centralized and decentralized exchanges but without any of their flaws.
To learn more visit our Investing in Loopring guide.
12. Theta Fuel
Theta Fuel is one of the two native cryptos on the Theta blockchain. Theta Fuel, or TFUEL, is a different asset from the regular Theta Token (THETA), which is the Theta blockchain’s governance token. TFUEL, on the other hand, serves as the utility token in decentralized video and data delivery, and also as a gas token.
As such, it powers all operations on the blockchain, and it can be used to provide incentives to users in the ecosystem who share their computing power with the project and its network.
To learn more visit our Investing in Theta Fuel guide.
Last, but not least, we have COTI. This is the self-proclaimed first enterprise-grade fintech platform that aims to empower organizations to create their own payment solutions and digitize any currency, which will save time and money alike. The project was among the first in the blockchain world to emerge optimized for decentralized payments and be specially designed to be used by merchants, payment dApps, stablecoin issuers, and even entire governments.
Its first app is called COTI Pay, and it is a fully encompassing finance on the blockchain, while the project’s own ecosystem was designed to meet all of the challenges involved with traditional finance, such as risks, global inclusion, latency, fees, and more.
To learn more visit our Investing in COTI guide.
As you can see, there are plenty of diverse options for those who are looking to diversify their portfolios by investing in altcoins that have yet to reach their full potential. Investing in coins like Ethereum is relatively safe, as they are bound to grow back up and reach great heights. However, investing in cryptos that have not gone big yet offers the chance to earn a lot more money when they finally do. The trick is to find the ones that will succeed, and while we can’t claim that all of the coins above will succeed, or even any of them — we are hopeful about the mentioned ones, as we believe that they have the potential to do so. Check them out, and if you agree — keep an eye on them in months to come.