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With the emerging of alt coins, also known as alternative coins, there is a trend where large institutions are adopting bitcoin on the safe side and new retail crypto hodlers are taking their bets on these alt coins. Alt coins have the potential to perform very well in the crypto market as we’ve all seen how Solana 100x last year in 2021. It outperform Cardano which was ranked third at one point and shocked everyone.
Bullish on potential Alt coins
Most people who are into this space would have feel that crypto is here to stay. And if that is so, alt coins will be the solution for this space to grow further. Coins such as Fantom, Matic, Kadena, Moonbeam, Moon River, Near, Cro and etc would potentially have the chance to level up to alt coins that already have huge market caps. NFA but personally I feel the risk may be high investing in such alt coins but the rewards would be higher if you know who the team is and what are they doing with their chain. And of course, Solana, Luna, Dot and Avax are still safer than those mentioned above.
Fantom TVL > BSC TVL
Fantom has broke BINANCE TVL and it’s just the start of fantom as more defi projects would be coming onboard. The gas fees and transaction speed stand out a lot compared to other layer 1s projects. It’s potentially rumoured as the next solana moment where it’d do at least a 100x.
Competitiveness Isn’t Bad After all
Because of the interoperability in the decentralised crypto space, developers could leverage and improvise on existing projects, building their own idea on top of it. The competitiveness in this space helps to fuel the creativity which leads to a very fast and sustainable growth. It also give people assurance that blockchain, crypto, web 3.0 are here to stay because they see how much creativity and knowledge are already poured into it. However, with its pros come with its cons, projects who are incompetent would be phased out quickly too. Therefore, these are the risks to consider when investing in alt coins.
How It May End Up
I feel all these blockchain may end up be complimenting each other rather than fighting for the market cap in the crypto space. There may be a chain where all these other chains will be merged as one for easier accessibility and lower barrier to entry. Bitcoin’s utility is simple yet game changing because all these wouldn’t have started without it. As of now its volatility is high however in years to come, it may end up having 5-10% apr of steady growth when all of them are mined in 2040.
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Disclaimer:
All of these are merely my knowledge and not financial advice. Please do your own due diligence and have conviction before investing. The information above is based on many hours of research out of my own curiosity/interest in YouTube, Google, blogs and discord communities. Leveraging & filtering information from other crypto enthusiasts and analysts.
