The crypto markets are on fire lately, even as the stock market faces headwinds from high inflation. Bitcoin (BTC-USD) recently powered through the $51,000 barrier as capital continues flowing into digital assets. With signs pointing to an impending Federal Reserve pivot on interest rates, the stage may be set for even stronger crypto gains.
I believe the crypto bull run is already underway, though some want to see Bitcoin print new all-time highs before making that call. Either way, compelling opportunities await savvy investors who want to increase their positioning in promising cryptos before the herd catches on.
As the Fed telegraphs future rate cuts (which may come later due to hotter inflation), a lot of liquidity could flood into both crypto and stocks. Paired with the upcoming Bitcoin halving in 2024, conditions seem ripe for a surge in crypto prices. The last halving preceded Bitcoin’s meteoric rise from $10,000 to nearly $65,000. Who knows where it can go this time?
Bitcoin is an obvious buy, so I’ll be looking at some promising altcoins today.
DevvE (DEVVE-USD)
DevvE (DEVVE-USD) is an intriguing new layer-1 crypto project, albeit one that comes with substantial risk. This blockchain platform remains in the conceptual stage, without a launched network. However, the project’s experienced team and ambitious vision around security, speed, and sustainable Web 3.0 development have caught my attention.
As described in its whitepaper, DevvE aims to enable over 8 million transactions per second while retaining strong security protocols. The team’s focus rests heavily on facilitating ESG and renewable energy projects, catering to growing institutional interest in sustainable crypto investments. If the team can raise adequate capital and realize their lofty goals, DevvE could become the go-to layer-1 network for green Web 3.0 and DeFi development.
Despite being in its conceptual stages of development, the DEVVE token has shown positive momentum since its recent presale listing. While presale investors tend to sell early and amplify volatility, the project’s forward-looking nature and unique ESG angle stand out to me as promising. Of course, with the network still on the drawing board, investing requires the ability for investors to embrace substantial risk.
Ritestream (RITE-USD)
Ritestream (RITE-USD) intrigues me as an emerging crypto project attempting to integrate blockchain technology within the digital entertainment space. While Ritestream trades at a relatively small $7 million market cap, the project’s experienced leadership team boasts ambitions to become a leading Web 3.0 media platform.
As described on Ritestream’s roadmap, the platform aims to distribute user-generated video content as well as original shows. This blockchain project remains in its infancy, having recently launched RITE token (which is now trading on secondary markets). Comparing Ritestream’s market cap to competitors like Hello Labs (HELLO-USD), which exceeds $61 million, suggests there’s meaningful upside here if Ritestream gains traction.
Execution risks always exist for small entertainment tokens like RITE. However, if the platform can carve out a niche in Web 3.0 video streaming, massive upside potential exists from today’s valuation. Upcoming milestones like new original programming offer catalysts for investor interest and user growth. The odds stand against Ritestream in the broader sense, but 100X potential makes it an intriguing speculative bet if you’re an investor that can handle the risk.
Nano (XNO-USD)
As a veteran peer-to-peer payment token, Nano (XNO-USD) offers a unique value proposition – simple, everyday digital cash. With no fees, near-instant settlement, privacy features, and minimal energy consumption, the network exemplifies capabilities many believe are essential for mass crypto adoption.
Despite Nano’s conceptual appeal, the project retains a modest $160 million market capitalization after years in operation. While the project’s team and community seem solid, Nano may simply lack the flash to catalyze investor hype. Regardless, if cryptocurrencies gain traction for common payments and remittances, Nano’s features could drive organic user growth.
Without flashy bells and whistles, Nano aims to provide a simple medium-of-exchange currency – nothing more. Thus, for those who believe a digital cash alternative drives crypto’s killer use case, Nano warrants consideration before the next industry hype cycle kicks off. As more capital enters the Web 3.0 ecosystem over the years ahead, investors may refocus on Nano’s practical value.
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Omor Ibne Ehsan 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.
