While calm moves continue in cryptocurrencies, analysts are sharing altcoins that provide buying opportunities in this stagnant market. Joe Parys, one of the popular names in the market, also shared 3 altcoins with good graphics with his followers.
The first crypto boy VeChain (VET) mentioned by the analyst is described as a versatile, enterprise-grade L1 smart contract platform. VeChain started in 2015 as a private consortium chain working with a number of businesses to explore blockchain applications.
According to the analyst’s statements, VeChain aims to use distributed technologies and IoT to solve big data barriers for many global industries, from medicine to energy, from food and beverage to sustainability and SDG goals.
The analyst states that VET has fallen by more than 80% in the last 11 months and has suffered serious losses along with the rest of the market. According to the analyst, VET may be giving a buying opportunity right now. VET is trading at $0.05 as of the time of writing.
According to the analyst, the second altcoin that offers the main buying opportunity is PancakeSwap’s cryptocurrency CAKE. PancakeSwap, an automated market maker, can be defined as a DeFi application that allows users to trade tokens, provide liquidity through farming and receive rewards in return.
According to the analyst’s statements, CAKE has fallen 84% since its all-time high. Parys states that CAKE is preparing for a big rise and can see high levels with the support of Binance Smart Chain. CAKE is trading at $6.7 at the time of writing.
The last altcoin mentioned on the list is Kadena (KDA). Kadena is described as a platform with a scalable layer 1 PoW blockchain along with Pact, a smart contract language. The analyst states that KDA’s market cap is currently at $1 billion, and a market cap of $10 billion is not impossible.
As of the writing of the article, KDA is trading in the $6 band, and the analyst states that if a price target of $24 is reached, the market value of KDA will exceed $10 billion.
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should perform their transactions in line with their own research.