Crypto analyst Joe Parys shares his top 3 altcoin projects he thinks can help investors multiply their money. We, as Somanews, have prepared the analyst’s posts for our readers.
The first altcoin project VeChain (VET)
Vechain is a versatile enterprise-grade L1 smart contract platform. VeChain aims to use distributed governance and Internet of Things (IoT) technologies to create an ecosystem that solves big data barriers for many global industries, from medicine to energy, food and beverage to sustainability and SDG goals.
In addition, VeChain leverages the power of unreliable data to build the digital backbone that will lay the foundation for the fourth industrial revolution, which requires real-time and reliable data sharing among many participants. VeChain has fallen more than 80% in the last 11 months. However, according to the analyst, the altcoin will start to recover.
Another altcoin with potential is PancakeSwap (CAKE)
PancakeSwap is an automated market maker (AMM). A DeFi application that allows users to exchange tokens, provide liquidity through farming and receive fees in return.
This altcoin has dropped 84% since its all-time high to as low as five or six dollars. According to the analyst, CAKE could be one of the cryptocurrencies where people can double or triple their money to previous levels of around $19 to $25. The analyst thinks it will be a nice 10x annual gain if it returns to the ATH level of $42.
At the end of the list is Kadena (KDA)
Kadena features the scalable Layer-1 PoW Blockchain with Pact, the secure smart contract language. Kadena makes blockchain work for everyone. According to CoinMarketCap data, the altcoin project has a market cap of over $1 billion. According to the analyst, if it definitely hits $24, it would be a nice 4x to 5x exit.
The analyst states that if it returns to its all-time high, it will reach a market cap of $10 billion. The analyst claims that the altcoin project could see some support around $5 or $6 and definitely 10x in the future.
However, we have to point out that since the crypto market is quite volatile and risky, it would be in your best interest to do your own research and stay away from unfamiliar projects in order to trade.