Investing in cryptocurrencies has become a profitable venture. People have witnessed the profitability of the industry, especially with the success of Bitcoin, proving that this relatively unknown sector can bring returns even in the near future. When making long-term investments spanning decades, cryptocurrency investment has the potential to enrich investors. It is a straightforward way of earning money, with the primary challenge lying in choosing the right currency for investment.
While Bitcoin has seen significant price growth over the past decades and is now primarily invested in by wealthy individuals and companies, the development of alternative coins or altcoins has gained momentum. Cryptocurrencies like Ethereum, Dash, Tether, Litecoin, XRP, and Cardano are well-known and continue to grow in popularity. However, there are undervalued altcoins with substantial potential. Austin Arnold, a well-known analyst and trader, has identified five cryptocurrencies worth considering. These altcoins have demonstrated promising performance since their inception and are gaining popularity.
Injective Protocol
Injective Protocol (INJ) is a decentralized derivatives exchange utilizing a universal DeFi protocol. The cryptocurrency can be used for:
stacking;
iquidity mining;
creating derivative markets;
managing futures protocols;
and exchange fees.
Injective Protocol supports a multitude of tools, allowing anyone to join the project, participate in market creation, submit proposals, and set derivative prices. This is made possible through the established DAO structure.
Arnold places INJ at the top of his list, noting that the blockchain platform and its token quickly garnered support from major investors. Binance Labs backed this project immediately in 2020, indicating its solidity and potential. Investing in this new cryptocurrency is considered safe. Arnold claims that after the INJ launch, existing tokens will be locked within a year. The cryptocurrency's price at the project's start was $0.65, and it has now risen to $14.95. This rapid growth speaks to the platform and cryptocurrency's potential.
Celo
Celo is a decentralized platform managed by a broad range of individuals. It is advantageous due to its stability, as many proposed cryptocurrencies are tied to fiat currencies, and their value does not fluctuate significantly. Celo provides people with complete freedom regarding their savings. Keys and account numbers are known only to their owners, ensuring independence from external influences when conducting financial transactions.
Currently, you can acquire Celo for $5.4. A significant portion of the tokens has already been acquired by giants like Deutsche Telekom. Investments from such a renowned company indicate the project's prospects. Celo's primary goal is to create a secure payment program and virtual currency that can help alleviate poverty in third-world countries. With a limited number of cryptocurrency developers in this field, Celo has the chance to become a leader.
Yield App
Arnold places Yield App in the third position, emphasizing its potential to bring DeFi into the mainstream quickly. Every person can invest online from any part of the world. With Yield App, investors can earn high returns by investing in various funds. For example, the Ethereum fund launched on the platform offers up to 20% annual returns on investment. This low-capitalization project is undoubtedly worth the attention of investors, as claimed by Arnold.
Rally
Rally, a new cryptocurrency with a circulation volume of 15,000,000,000 and a market capitalization of $137,585,515, has not yet been fully assessed by investors. Currently, you can purchase 1 RLY for $1.02. The cryptocurrency is traded on exchanges such as Hoo, KuCoin, 0x Protocol, and CoinEx.
The platform itself is designed for social tokens, allowing users to create content and their tokens for subsequent cryptocurrency operations. Rally boasts advantages such as the absence of hidden fees, a free and convenient application. Coinbase Ventures has already invested in this new cryptocurrency.
Origin Protocol (OGN)
Origin Protocol serves as the foundation for creating trading platforms and utilizes IPFS and Ethereum blockchains. Arnold names OGN token as promising because Origin Protocol is an NFT platform asset. The platform's partnership with Google Cloud played a significant role. Google has previously entered into similar deals for the creation and expansion of the NFT market (OpenSea). However, it is Origin Protocol that will attract more interested individuals in the near future.
