After sliding for the past two months, the cryptocurrency market has seen a surge this past week and investors are once again on the hunt for cryptos that could 10x. The momentum is certainly there, and the resilience of the crypto market this year has been impressive. Snapping up some breakout cryptos right now can lead to some hefty gains if the trends continue.
Regardless, there are still more long-term positive catalysts at play that can propel the crypto market. The upcoming Bitcoin (BTC-USD) halving and potential rate cuts are principal catalysts to keep in mind. Even if we see a cooldown from here, these three cryptos could 10x in the next few years.
As a side note, I will be excluding Bitcoin and Ethereum (ETH-USD), as they are two obvious choices.
Solana (SOL-USD) is the leading “Ethereum killer” and it remains a very solid competitor to other alternative Web 3.0 blockchains. While stability issues have always been my top concern with Solana, their focus on fixing such issues this year makes me believe this is a great contender for cryptos that could 10x by 2025.
Solana has a lot of potential to become a leader in the decentralized finance (DeFi) space, as it offers low fees, scalability, and interoperability with other blockchains. It is capturing a lot of the non-fungible token market share from Ethereum, and once the project figures out its stability issues, I believe more developers are likely to migrate.
Still, Ethereum remains the top dog, and fees are very low. Solana is much more cyclical and volatile and I only expect it to deliver substantial gains when the Ethereum network is congested.
Nervos Network (CKB)
Nervos Network (CKB-USD) is an under-the-radar project with one very bullish catalyst this year. CKB will be undergoing a halving event sometime in November and we could see the price climb significantly from there.
Despite the lack of momentum here, I’m optimistic about this project. The multi-layered blockchain network provides a secure, scalable, and interoperable platform for the next generation of decentralized applications.
Nervos consists of two layers: the Common Knowledge Base (), which is a public and permissionless proof-of-work blockchain that stores data and assets; and the Application Chain Layer ( ), which is a set of layer-2 solutions that enable fast and low-cost transactions. Simply put, it can combine the best aspects of both Ethereum and Bitcoin.
That said, I believe a lot of patience is needed here. That primarily concerns the lack of marketing. But as blockchain development continues to advance, the flexibility and interoperability offered by this project will make it very appealing.
Nervos Network is currently trading with a market cap of over $120 million and that leaves a lot of room for upside.
Storj (STORJ-USD) is similar to Filecoin (FIL-USD), as it buys data storage from individuals worldwide with its STORJ token and then resells it in bulk to others. This project is overshadowed by the Filecoin project, and especially after the launch of FWS, many wonder why they should buy STORJ.
The answer here is tokenomics. Unlike Filecoin’s inflationary model (94% supply inflation), Storj does a great job of providing long-term value. The supply inflation here is at just 1% and your holdings won’t be eroded over time while enjoying the tailwinds from the decentralized cloud storage market.
Of course, blockchain cloud storage has a long way to go. But both Filecoin and Storj have better pricing than their traditional counterparts and their customers enjoy the perks of no censorship, decentralization, and better stability.
On the date of publication, Omor Ibne Ehsan did not have (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.