Bitcoin (BTC-USD) has witnessed some correction from all-time highs of $73,800. However, with the bull market underway, new highs are likely in the coming months. The Bitcoin halving event is an immediate catalyst for renewed upside.
At the same time, opportunities are emerging in the altcoin space. In the next 12 months, expect multiple multibagger names.
In terms of positive catalysts, multiple rate cuts might be on the cards in the next 12 to 18 months. Easy money policies are positive for risky asset classes and likely to support the crypto rally beyond 2024. Therefore, instead of quick trades, a buy and hold strategy might be more profitable for some quality coins or tokens.
Therefore, let’s discuss three interesting cryptos that can be massive wealth creators in the current bull market
BNB (BNB)
Previously known as the Binance coin, BNB (BNB-USD) is one of the top five coins in terms of market capitalization. Further, it’s among the top ten centralized cryptocurrency exchanges in terms of trading volumes.
With the bull market underway, I am bullish on some of the major centralized and decentralized exchanges. As trading and speculative activity increases, it’s likely that the major exchanges will benefit. BNB is likely to be a multibagger from current levels.
Notably, BNB has a strong use case. Users holding the coin are eligible for reduced trading fees. Further, based on BNB holding, Binance account tier is decided. I must add that is the Binance Chain native token, paying for fees on the Binance Chain needed to trade on Binance DEX. Therefore, with Binance being a major exchange and with multiple use cases for BNB, this is one to consider.
inSure DeFi (SURE)
inSure DeFi (SURE-USD) claims to be the world’s first crypto insurance ecosystem. Being unique, SURE token looks attractive in the current bull market. Since crypto investors have been subject to scams and stolen funds, this project protects the crypto portfolio.
To elaborate, investors need to buy SURE tokens to initiate the insurance coverage process. The insurance coverage amount varies depending on the number of SURE tokens held. As an example, if a user holds 500,000 tokens, the insurance coverage is for two years and for a value of $140,000. The insurance covers scammers, devaluation, and stolen funds.
Another interesting point is that SURE token can be staked for an APR of 24%. Besides insurance coverage, there is scope for passive income. As more investors hold SURE for insurance coverage, the tight supply is likely to ensure that the token value skyrockets.
Zilliqa (ZIL)
Zilliqa (ZIL-USD) is among my favorite crypto projects. Even with some recent rally, ZIL token has remained sideways in the last 12 months. It’s a good opportunity to accumulate now. Once ZIL starts trending higher, 5x to 10x returns are likely in quick time.
As an overview, Zilliqa is the world’s first sharding-based blockchain. The concept of sharding implies that transactions are grouped into smaller groups and divided among the miners for the parallel transactional verification.
This ensures robust transaction speed, and Zilliqa has a low transaction cost. With the crypto bull market, it’s likely that more dApps will be created on the Zilliqa network. This will translate into incremental demand for ZIL token.
Besides the significant undervaluation, ZIL has an attractive staking APR that’s currently at 10.48%. Additionally, 28.88% of the circulating supply is staked. With attractive rewards, I expect staking to increase further, translating into tight supply.
On the date of publication, Faisal Humayun 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.
