In a particularly uncertain market context, several altcoins could bounce back higher towards the end of 2022. Here are some cryptocurrencies that might be of interest given their current levels and their fundamentals.
Theta Network (THETA): a promising update
The launch of the THETA metachain in December may indicate good prospects for the medium-term development. However, the successful launch could also herald a bounce for the THETA cryptocurrency as early as this month. With this version 4.0, this decentralized network offering peer-to-peer (P2P) video streaming continues to build a solid foundation for the future. Recall that THETA token was trading at a price of more than $4 per unit at the beginning of the year, and ATH peaked at more than $12 in the spring of 2021. Today, THETA can be purchased for $0.95. Good entry point?
VeChain (VET), the possibility of buying this cryptocurrency?
VeChain VET is a relatively old cryptocurrency in terms of the crypto ecosystem. Launched in 2015, it notably offers a solution for tracking companies thanks to the blockchain. Its high was around $0.2 in 2021. The FTX crisis and the recent drop in confidence in the crypto ecosystem has not been kind to him: VET is currently in a bearish phase with the token at 0 at roughly $0.01, i.e. price divided by 20! Thus, VET reached the level of 2020 before the last bull run. Strong signal indicating an area of interest.
After this important cleansing, the likelihood of a bullish rebound is becoming more important for this cryptocurrency every day. Moreover, despite this recent major correction, the project has never made such great progress in terms of its fundamental development. Take a look at the fund’s recent partnerships with, for example, the UFC in the US.
The Vechain Foundation recently announced a new technology center in Ireland.
Cosmos (ATOM), a cryptocurrency on the verge of growth
Cosmos weathered the shock of the FTX case relatively well. And it’s not for nothing that Cosmos and its ecosystem are thriving despite the bear market. Hovering between $9 and $10 today, ATOM will have to clear the resistance around $15 to really find a bullish cycle. Meanwhile, a range around these values is possible.
Admittedly, Cosmos may not be the altcoin with the most upside potential. But this is a safe bet in the crypto market. The abundant activity of blockchains present on the network indicates that there is still a lot of interest. Thus, ATOM, this “Internet of Blockchains”, reflects the added value of an entire thriving ecosystem.
The Cosmos ecosystem continues to grow despite the bearish market environment.
Therefore, in a bearish context, it may be wise to buy a few cryptocurrencies under the tree to take advantage of attractive prices. Indeed, if we must remain cautious, the current levels of these three altcoins seem to be low enough to interest us.
Get a digest of news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss any important Cointribune news!
Fascinated by the history of Bitcoin and the cypherpunk movement, I think citizens should reinvest in money. My goal ? Democratize and make visible the potential of blockchain and cryptocurrencies.