Altcoins continue to rise in value, following the main cryptocurrency. On an annualized basis, BTC has risen in price by 290%. ETH – by 644%, the new star of the cryptoindustry Cardano – by 1430%, and Dogecoin has risen in price by 9150%.
What will happen to the altcoin market this fall, and which coins are worth investing in right now, we will find out from the experts.
This fall may well be the altcoin season . Already today, major coins such as ETH, Cardano and Solana are skyrocketing in value. This is facilitated by general market trends, as well as positive news about cryptocurrencies , which are increasingly appearing in the media.
- Experts expect an explosive rise in altcoin prices this fall.
- It is worth investing only in projects with a real product.
- ETH, ADA and SOL have become the favorites of investors.
“As for the factors that will determine the dynamics of the market in the fall, I would like to note here the news of the funds. For example, Tesla’s financial quarterly report, which was published at the end of July. It reflected that, despite the fall in the value of bitcoin, the company did not make sales and continues to keep the entire amount on the balance sheet. And, of course, there is regulatory news, especially from China and the United States, ”said Sergey Zhdanov, COO of the EXMO exchange.
Experts also expect that the number of altcoin transactions, in particular the ETH token, will significantly increase in the fall.
“ Hardfork London is likely to affect the growth in the number of transactions and, as a result, the increase in the total cost of commissions on the ether. Accordingly, the cost of ether is most likely to grow in the fall, ”says Oleg Kurchenko, founder and CEO of the Binaryx digital asset exchange.
A similar opinion is shared by the founder of Yafo Business Development, Guy Yanpolsky. The expert believes that an increase in the throughput of the Ethereum blockchain will positively affect the value of the ETH token.
“I am sure that ether will show new price records this fall, and along with it other popular altcoins will rise in price ,” commented Guy Yanpolsky.
But Roman Nekrasov, co-founder of the ENCRY Foundation, believes that the growth of bitcoin can do altcoins a disservice and, conversely, pull them down.
“If the powerful growth of bitcoin begins in the fall, then this will tighten up the alts. But there is a nuance – if investors feel that Bitcoin’s growth is very strong and can potentially bring good returns, then the alts may fall, because investors will start transferring assets from altcoins to bitcoin. That is, moderate growth of bitcoin is good for altcoins, and not a powerful bullish rise of tothemoon, ”the expert says.
ETH and SOL tokens will become the main ones in the altcoin market
If we talk about investing in crypto assets , then experts agree that you need to invest money in projects with real products that solve certain problems in the market.
“I think it is worth investing in DAO tokens of projects. These organizations are still underestimated, which means that the hype in this sector is yet to come. Explore DAO and VC projects. We chose this particular niche for a reason. The market is developing and moving towards DAO, ”explains Georgy Galoyan, founder and CEO of the decentralized autonomous venture capital platform DAO.VC.
In addition, experts advise paying attention to DeFi project tokens , which remain very popular to this day.
“In general, I see huge potential in the DeFi sphere and everything connected with it. Therefore, my choice is appropriate – Elrond (EGLD), Cardano (ADA). Both of these blockchains are focused on building decentralized applications using smart contracts. At Elrond, the blockchain is already working in the form of shards (segments that work in parallel to each other), ”says Nikita Vassev, entrepreneur and founder of TerraCrypto.
The expert also recommends paying attention to ETH as the main altcoin . According to Nikita Vassev, the Ethereum development team is successfully moving along the path of updating ETH 2.0 .
Several update phases have already been completed, a deflationary mechanism has recently been launched – everything is quite successful. The main thing is that they fit well within the designated and expected timeframes. If this continues, then at the beginning of 2022 we will clearly see the Fusion, and in the second half, probably, and Sharding . This is a completely different scale. Ether confirms its leadership in blockchain platforms for building decentralized applications .
Roman Nekrasov suggests paying attention to the ADA token , which also continues to grow in value.
“If we talk about the short term, then I think it is worth looking towards the ADA. Cardano is expected to launch smart contracts by September, after which decentralized applications, primarily trading platforms, will begin to appear on the network. After that, liquidity will flow, which can push the ADA rate up, ”the expert said.
Excellent prospects can be traced to the Solana blockchain token . EXMO experts are sure that investors should take a closer look at this asset.
“We have always called Solana a promising coin because it solves one of the key blockchain problems – node synchronization. The algorithm used by the Solana (Proof of History) blockchain allows for the creation of a chronological record confirming that an event occurred at a specific point in time. The project has constantly evolved and developed, attracting funding from top market players (SOL raised $ 60 million from Hacken, Gate.io, Coin DCX, and $ 314 million through a private token sale. The round was led by venture capital firms Andreessen Horowitz (a16z) and Polychain Capital).
The new record maximum of the project was brought by the NFT-project Degenerate Ape Academu launched on this block. SOL not only got into the top 10, but also turned out to be the best for the week, showing a 59% increase in 7 days, ”says Sergei Zhdanov.
Oleg Kurchenko recommends investing in the DOT token from the Polkadot platform .
“With the development of the market, projects such as Polkadot (DOT) will be in great demand, due to which their cost will increase. Also, take a closer look at the Polygon (MATIC) project. This is a “sidechain” or, in simple words, a subsidiary blockchain on the air. It has a very promising ecosystem in which transactions go through as quickly as possible and fees are low. Polygon scales up to millions of transactions per second, thereby becoming an attractive investment, ”the expert commented.
In general, experts are sure that it is worth investing in projects with real products, but investing in meme coins should definitely be avoided.