The leader in cryptocurrency capitalization, Bitcoin (BTC-USD), has thousands of alternatives in tokens with lower trading volumes and greater growth prospects. These coins have hundreds of times less market dominance but, if used correctly, can turn an ordinary trader into a multimillionaire.
Altcoins experienced a drop of about 70% compared to bitcoin between March and May 2024. The prolonged downturn in the market coincided with the low performance of digital assets led by Ethereum (ETH-USD). This coin may push the prices of other altcoins up ahead of the possible approval of a spot ETH ETF in the coming days. The Securities and Exchange Commission (SEC) has not yet decided. However, news after May 24 may wake the market from its three-month sleep.
Buying altcoins with a 10000% potential is a choice for the brave and confident because such gains can be possible if investing during the market correction. However, the result can meet the highest expectations, as such an investment will be similar to buying BTC in early 2020.
Omni Network (OMNI-USD)
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The heavyweight of the modern crypto industry, Ethereum (ETH-USD), has its drawbacks. It scales through isolated runtime environments (rollups), leading to growing ecosystem fragmentation. The Omni Network (OMNI-USD) connects disparate rollups to ensure that the blockchain structure remains intact and operations are uninterrupted. Before this innovative solution, the dispersion of developers led to economic losses and the inability to create applications that would go beyond one roll-up. The project tries to develop in several directions while engaging in multiple initiatives. These are EigenLayer, Sushi, Injective Protocol, Arbitrum, Flow, Optimism and Mantle.
OMNI’s release coincided with a period of correction in the market, which caused its price to decline for almost two months. After the listing, investors began an active sell-off, negatively affecting the token. However, this series of events, coupled with the token’s youth, led it to the list of altcoins with a 10000% potential. The drop from $54.24 to $14 created a springboard for the coin, which still holds 89.4% of all tokens frozen. Once the overall market downturn is over, the impact of the listing on Coinbase, KuCoin, Binance and Crypto.com will be fully realized. Strategic measures, such as the token’s participation in the Genesis staking program, are gradually reducing the number of OMNI in circulation, ultimately leading to a multiple increase in the coin’s exchange rate.
Core (CORE-USD)
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Core (CORE-USD) is a synonym for innovation because it did not choose the standard consensus method but came to use Satoshi Plus. It combines proof of work (PoW) and delegated proof of stake (DPoS) to achieve security for the Bitcoin (BTC-USD) network and maintain the system’s democratic and scalable nature. The project recently developed the Bitcoin-to-EVM HTLC atomic exchange protocol and simplified inter-chain exchanges between the Core network and Bitcoin.
More than $20 million worth of bitcoins are placed on the platform, as it provides staking services for this token. However, the connection with the leading cryptocurrency is not the only partnership of the project. Cooperation with Alchemy Pay has brought seamless fiat-to-crypto and crypto-to-fiat transactions to the Core ecosystem. Fifty fiat currencies and 300 payment methods mean easier entry for new users and spreading the project’s fame. Joint work with Full Force has led to the creation of the Community Incubation Launchpad on Core Chain. Launching new blockchain projects has become easier and faster, precisely what crypto startups need in a time of active market growth.
This token can also be considered one of the altcoins with a 10000% potential based on its trading performance. It has been 15 months since it appeared on exchanges and has already shown jumps from $0.34 to $6.47. The jump to a local high of $3.77 replaced a plateau period from mid-2023 to March 2024. The 4-fold increase in price then occurred in less than a week. Like most cryptocurrencies, CORE is currently being corrected, but its high technology, usefulness and modernity can raise it to price peaks at any time.
Fetch.ai (FET-USD)
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As the name suggests, Fetch.ai (FET-USD) has embarked on the path of artificial intelligence development and uses it in the interests of the decentralized digital economy. Since 2017, the project has been creating decentralized, open-access machine learning networks and has managed to attract such corporate giants as Bosch, Deutsche Telekom and Festo to its developments. Integrating AI into real-world problem-solving relies on blockchain to make applications and services more reliable and secure.
Integration with Chainlink (LINK-USD) has opened new horizons for the project, and Fetch.ai has gained access to accurate data from thousands of sources. Fetch’s AI agents use Chainlink’s network of oracles to expand the capabilities of decentralized finance (DeFi), supply chain management and other areas.
The coin has joined the ranks of other altcoins with a 10000% potential thanks to the successful merger of blockchain and artificial intelligence, reflected in the project’s market performance. Due to its focus on AI, FET embraced bullish sentiment earlier than most tokens and showed steady growth as early as February 2024. After reaching the ATH ($3.47) in March, the coin dropped to the $1.8-$2.7. Well-known traders and analysts such as Captain Faibik and @rektcapital predict that FET will rise in May and cross the previous maximum price line.
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
