As we navigate the labyrinth of the current market landscape, the allure of cryptos with high potential remains irresistible. The dark clouds of last year’s downturn and the debacle of the mighty crypto exchange FTX have parted, paving the way for a resurgent crypto market.
Though a short-term rally may seem elusive, it’s prudent to identify and accumulate high upside cryptocurrencies. Those well-versed in the crypto realm understand that significant bullish catalysts are looming over the horizon.
The highly anticipated recession doesn’t necessarily spell doom for all cryptos stock market indices. Moreover, the chance of the crypto market hitting rock bottom has become promisingly high.
For the discerning investor, it could be a perfect time to hunt for profitable crypto investments offering incredible returns over the future.
With that said, let’s look at three of the most promising cryptos that could soar to new heights when the financial markets build a decent head of steam again.
Polygon (MATIC)
Polygon (MATIC-USD) is a Layer-2 solution renowned for taking on Ethereum’s scalability issues.
It has had a rough week of late, having shed approximately a quarter of its value amidst the rising scrutiny from the SEC, resulting in Robinhood’s delisting of MATIC. Despite these regulatory headwinds, its long-term investment potential remains firmly intact.
Polygon’s unique approach to enhancing Ethereum’s speed and cost-efficiency sets it apart in the bustling DeFi landscape. Its emphasis on utilizing Ethereum Virtual Machine roll-ups optimizes transaction processing and ensures compatibility with Ethereum’s code.
Finally, Polygon’s remarkable alliances with major brands in launching NFT projects add to its charm. Like Ethereum, Polygon offers stability and long-term growth potential, making it an excellent choice for long-term investors.
However, the recent regulatory overcast may temporarily dent its appeal. Nonetheless, the intrinsic value and potential of Polygon are indisputable.
Fantom (FTM)
Fantom (FTM-USD) is a leading proof-of-stake Layer 1 blockchain protocol, which offers robust utility amidst a relatively complex landscape for blockchain networks.
The crypto’s primary issue is addressing the triad of scalability, decentralization, and interoperability issues. Its standout features include unparalleled speed, cost-effectiveness, and a thriving ecosystem.
Despite shedding a ton of value during the crypto winter, Fantom remains resolute. It’s up by more than 50% since the start of the year, having reassured investors of its strong financial footing, dispelling any links with the FTX saga.
Its financial records reveal a formidable war chest of $340 million in various assets, including stablecoins and crypto assets. It boasts a strong liquidity position marked by an amazing 30-year runway displaying its financial strength and transparency.
Zilliqa (ZIL)
Zilliqa (ZIL-USD) has solidified its position as a pioneer in sharding technology, standing tall in the bustling world of the blockchain sphere.
This concept divides transactions into smaller groups for parallel verification, resulting in super-fast transaction speed.
Indeed, Zilliqa outpaces both Bitcoin (BTC-USD) and Ethereum (ETH-USD), boasting a rate of 2,500 transactions per second, a stark contrast to Ethereum’s 15 TPS and Bitcoin’s 7 TPS.
Zilliqa presents an interesting case from a staking perspective, offering a promising annual percentage rate of 13.02%. Last year, the Zilliqa coin made notable strides, especially with the metaverse-as-a-service launch.
Though the hullabaloo surrounding the metaverse has died down of late, the market is poised for exponential growth in the coming decade, positioning Zilliqa for long-term expansion.
Furthermore, as we teeter on the edge of another potential bull market, the ZIL coin looks primed to deliver multibagger returns.
On the date of publication, Muslim Farooque 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
