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The bear market has been going strong for over 10 months now, forcing crypto prices down. Historically, we know that it will have to end at some point, although when exactly it might happen is still unclear. When it does, however, the altcoin market will start seeing recovery, with some cryptos starting that recovery faster than others.
Today, we wanted to check out some of the projects that we believe might be among the first ones to break out once the market allows it. Note that not all of these might not necessarily live up to expectations, but after looking into them, we have found that they do have the potential to go big. With that said, nothing is ever certain in the crypto industry, so we suggest keeping an eye on them and only reacting if you personally believe that there is a chance for them to go big.
The first on the list is Persistence. This is a project that enables exposure to multiple asset classes such as liquid staking, synthetics, and NFTs.The project's goal is to create an ecosystem of multi-chain web three products designed to stimulate global liquidity and enable seamless value exchange.
Persistence is also working on additional projects such as developing interchain NFT and metadata standards as well as leading proof of stake networks and foundations. It is among the pioneers of the proof of stake industry, and it supports upcoming PoS networks using its validator arm AUIDT.
To learn more visit our Investing in Persistence guide.
The next on the list is Cardano which has been one of the leading projects for years. It has now been almost a year since Cardano completed its second stage of development, also known as the Shelley Era. In doing so, it launched smart contracts on its network, which finally enabled the creation of a number of blockchain products such as dApps, DeFi protocols, NFTs, and much more.
However, immediately after Cardano launched smart contracts and its native token ADA got all of the additional functionalities — the bear market hit, and the coin’s price never got to see the rise that it was expected to see. Now, with a growing ecosystem, ADA is in a perfect position to skyrocket, assuming that the bear market will let go in the near future.
To learn more visit our Investing in Cardano guide.
3. Enjin Coin
In the third spot, we have Enjin Coin — a project of the company called Enjin, which offers an ecosystem of interconnected gaming products based on blockchain technology. Its main product is the Enjin Network, which functions as a social gaming platform through which users can create websites, clans, engage in chat, and even build their own virtual item stores. It is a perfect place for users to tokenize in-game items and offer them for sale.
The whole idea is to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.
To learn more visit our Investing in Enjin Coin guide.
Moving on, we have Pluton — a project that insists on earning crypto rather than simply buying it. It offers its own Visa Debit Card that users can use for payments virtually anywhere, and as a result of using it, they earn rewards. The card offers up to 8% in crypto rewards, more than 20 different perks, and more.
It also has an app that tracks your rewards, so you can always know how much you have earned. The app also lets you deposit fiat currencies, make payments, and earn rewards which will make your crypto balance grow. In the end, it is a user-friendly way of earning crypto while spending money and a good way to enter the industry for new users.
To learn more visit our Investing in Pluton guide.
Enzyme is a platform powered by the MLN token, which empowers users to build and scale investment strategies of their choice. That can include anything, from discretionary and robo to ETFs and even entire market making. The project claims that its top priority is security and that its second generation smart contract-enforced platform is thoroughly tested and audited.
As for the platform’s functionalities, it enables users to retain custody of their own assets at all times. The money will only ever go to where the user sends it, and when they want it to move. The platform offers full transparency about strategies, together with info about how they are se up, operated, and composed.
To learn more visit our Investing in Enzyme guide.
6. Akash Network
Akash Network claims to be the world’s first decentralized cloud computing marketplace and a DeCloud for DeFi. Its goal is to offer the infrastructure that will someday power Web3, and it functions as a distributed P2P marketplace for cloud computing.
Using the network allows developers to launch a number of different applications, including DeFi protocols, dApps, blogs, games, block explorers, blockchain nodes, data visualizations, and more — all on a decentralized cloud, all fast and simple. As such, we believe it has great potential to grow much larger than it is right now, which is why it ranks high on the list.
To learn more visit our Investing in Akash Network guide.
Moving on, we have Goldfinch, which is a global credit protocol. It offers sustainable, high-quality stablecoin yields generated by real-world economic activity. At the same time, it is sheltered from the volatility of the DeFi sector, which shares this with the rest of the crypto industry.
The platform has its own native cryptocurrency, GFI, which is an ERC-20 token that acts as a governing token for Goldfinch. The platform’s ultimate goal is to make DeFi lending more accessible, and it plans to do this by making loans more available. These loans can use both on and off-chain collateral, which makes them more advanced than what any previous lending service has to offer.
To learn more visit our Investing in Goldfinch guide.
Halfway down the list, we have Arweave, which acts as a decentralized storage network with the goal of offering a platform for indefinite data storage. The project sees itself as a collectively owned hard drive that never forgets, and its primary purpose is to host a permanent decentralized web called simply the Permaweb.
The network still uses the project’s native coin, AR, to pay miners to indefinitely store the network information. Meanwhile, the network can store numerous platforms and apps, all decentrlaized and driven by the community.
To learn more visit our Investing in Arweave guide.
Quant is a project that aims to connect blockchains and networks on a global scale without the reduction of the network’s efficiency and interoperability. As such, it is the first project to solve the interoperability problem by creating the first blockchain OS.
Its main aim is to use its OS distributed ledger technology, known as the Overledger, to bridge the gap that exists between the blockchains. Quant sees the Overledger as the backbone of the ecosystem on which the future digital economy will be built. The project certainly doesn’t lack ambition, and we are quite interested in seeing the project’s progress in years to come.
To learn more visit our Investing in Quant guide.
10. Basic Attention Token
In the tenth spot, we have Basic Attention Token, or BAT — the native cryptocurrency of Brave Browser, which was created to empower users and revolutionize online advertisement. The browser automatically blocks all ads and allows users to enable them only if they want to. However, that is not all, as users are also rewarded with a small amount of BAT for watching ads.
The browser comes with a built-in crypto wallet, it allows users to tip content creators and even entire websites, and its goal is to reward users for giving their time to watching ads rather than forcing them to with nothing in return.
To learn more visit our Investing in Basic Attention Token guide.
11. Shiba Inu
Moving on, we have Shiba Inu, which is one of the many memecoins inspired by Dogecoin’s success and popularity. However, while Dogecoin managed to outlive all predictions and survive for nearly a decade now, so did SHIB outperform all expectations, even managing to grow larger than DOGE at one point in 2021.
A large portion of the community expects to see it do so again, and while there is no guarantee that it will – we can say with certainty that SHIB’s price will break out at some point. Memecoins have become a vital part of the crypto industry, against all expectations, and SHIB is one of the largest and most popular ones, so there is no question about whether it will break out – only when.
To learn more visit our Investing in Shiba Inu guide.
12. Immutable X
Immutable X is one of the most important projects on Ethereum’s network as it acts as a scaling solution for Ethereum-based NFTs. As a result, the project’s NFT market doesn’t have to suffer the same issues as ERC-20 tokens due to Ethereum limitations such as low scalability, poor user experience, slow developer experience, and alike.
Instead, users benefit from instant trading, massive scalability, zero gas fees, and other similar advantages. Immutable X can achieve this thanks to the fact that it was built with STARK zk-rollups, a technology that even Ethereum’s co-founder Vitalik Buterin is highly interested in.
To learn more visit our Investing in Immutable X guide.
Illuvium is one of the biggest metaverse games in the blockchain industry, and it calls itself the first AAA title on Ethereum. It was designed to be an excellent source of entertainment for both, casual gamers and DeFi enthusiasts through a range of collecting and training features.
It allows players to enter the world inhabited by creatures known as Illuvials, and by besting them in battle – players can have them join their collection. They can then use them in their adventures for battles and overcoming similar obstacles. The game is a mix of an open-world exploration game and a PVP battle game, and from what we have seen so far, it is one of the gaming projects with the greatest potential to dominate the metaverse sector.
To learn more visit our Investing in Illuvium guide.
14. Ceek VR
Nearing the end of the list, we have CEEK VR, which is a project operating on Ethereum’s platform. It is another metaverse project that offers to connect music artists, athletes, and other digital content creators with their fans in a direct and seamless way, using virtual worlds.
CEEK VR continues the innovation of blockchain technology, it has already onboarded numerous superstars in world-class partnerships, and it even patented its own VR Headset, which is currently sold at major retailers. It is considered to be the future of music streaming and publishing, and we have great interest in seeing how it develops going forward.
To learn more visit our Investing in CEEK VR guide.
Finally, the last on our list is Kusama — a project that was developed as a canary network for Polkadot. The two have unique systems, and Kusama was meant to be a sort of testnet where developers could go to develop new projects and protocols, test new ideas, and alike. Then, when the projects are ready, they will be deployed on Polkadot.
However, many projects developed on Kusama simply decided to stick around and not leave its network, turning Kusama into a proper blockchain network with its own unique projects. Due to this and its very nature, Kusama is a project where the most innovative projects are launched. Whether they end up being a hit or miss, the newest ideas meant for both Kusama and Polkadot will originate here, and so Kusama represents the best place for keeping an eye on new developments and blockchain breakthroughs.
To learn more visit our Investing in Kusama guide.
The crypto industry has had 10 months of a bear market, but even so, these 10 months have been marked by constant development which set up a strong foundation for a significant price increase. All that remains is for the bear market cycle to end and for the bulls to start providing growth opportunities for the industry once again. So, if you are looking for breakout altcoins to invest in early, we recommend at least looking into the coins and tokens mentioned above. Keep an eye on them, and be ready to react if their prices do start growing in weeks or months to come.