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Investing in an altcoin in the cryptocurrency market is challenging, especially due to current uncertainties. However, despite the market downturn, many altcoins with significant potential remain undervalued. Cryptocurrency analyst Altcoin Buzz listed four altcoins worth examining due to their promising projects and strong fundamentals. We have compiled these altcoins for you.
Akash Network (AKT): Decentralized Computing Pioneer
The first altcoin on the analyst’s list is Akash Network, which operates in the decentralized computing (DePIN) and artificial intelligence (AI) sectors. These areas are among the most promising in the current cryptocurrency market.
As is known, Akash Network was launched as a decentralized computing marketplace that allows users to rent out their excess GPU capacities at lower costs than major cloud providers. This unique offering has attracted attention, including from Grayscale, which added Akash to its list of high-potential assets for Q3 2024. Despite the overall market downturn, Akash has demonstrated resilience and growth potential with positive price movements.
Morpheus Labs (MITX): Bridge Between Web2 and Web3
The second altcoin highlighted by Altcoin Buzz is Morpheus Labs, a project focused on helping Web2 companies transition to Web3. Morpheus Labs stands out by simplifying this transition using a low-code platform and AI tools, making it accessible even to those with limited technical knowledge.
The project has a wide range of collaborations with major industry players such as Alibaba Cloud, Huawei Cloud, Amazon Web Services, Tencent Cloud, JP Games, Elrond, and Ant Group. The Morpheus Labs ecosystem helps reduce the load within Blockchain by offering Layer-2 scalable solutions, sharding for parallel processing, and off-chain computing.
Graphlinq (GLQ): No-Code Web3 Automation
The third project on the analyst’s list is Graphlinq, which is solidly positioned in the AI sector. Graphlinq provides no-code Web3 automation, enabling users to easily deploy and manage decentralized applications (dApps).
The protocol is multi-Blockchain, with its own Blockchain and token standard. With approximately $14 million worth of 170 million GLQ total value locked (TVL) in its Blockchain, Graphlinq is also highly active in the decentralized finance (DeFi) space. Its ease of use and significant TVL make it an interesting altcoin to watch.
Clearpool (CPOOL): Decentralized Lending
The fourth and final altcoin on Altcoin Buzz’s list is Clearpool. Clearpool stands out for its role in the real-world assets (RWA) sector. Clearpool operates a decentralized marketplace for loans on Ethereum and Polygon. To date, it has facilitated a total of $562 million in loans and has a TVL of $81 million.
The RWA sector is expected to grow into a $6 trillion market by 2030, and Clearpool is well-positioned to benefit from this growth. BlackRock’s entry into the RWA market shows the potential of this sector. Despite last year’s price increase, Clearpool’s market value still indicates significant growth potential.
