The Consumer Price Index (CPI) released on February 14 did not meet the expectations of investors, and this could lead to a period of stagnation and minor fluctuations in the cryptocurrency market with the prevalence of bearish sentiment. In such conditions, Bitcoin may not be the best asset for active traders.
However, even during a stagnant market, there are coins with potential for rapid growth. Although they are volatile, skillful traders can take advantage of this volatility and potentially grow their assets. Here is a list of some coins to consider.
OCEAN
This year, there is a growing trend towards tokenization of various assets. However, it’s important to note that not all blockchains are suitable for this process. Ocean Protocol is an ecosystem that utilizes blockchain technology and ERC-20 based data tokens, allowing individuals and companies to discover the value of their data and monetize it easily.
Through Ocean Protocol, private companies and their technical and management structures can safely exchange data and services, as well as sell them. The Ocean Protocol blockchain stores metadata and links to data, offers a licensing structure, and provides toolkits for pricing.
OCEAN is a utility token that is used for community governance and data staking, and serves as the primary unit of exchange on the Ocean Market for buying and selling data. The price of these data tokens is determined by the AMM OCEAN-datatoken pool, which adjusts based on supply and demand. With the increase in corporate interest in asset tokenization, there is a corresponding rise in interest for platforms capable of facilitating this process. As a result, there is a possibility of an increase in the OCEAN rate, which is directly linked to the demand for protocol services.
PLCU
As an increasing number of major retail stores support cryptocurrency payments, it becomes apparent that the traditional store architecture may not be sufficient for this new asset type. Cryptocurrencies require decentralized platforms that facilitate interactions with users. One such platform is PLC Ultima, a decentralized ecosystem built on blockchain that focuses on launching decentralized applications for everyday use. Its services are designed for non-technical users and has attracted over 1.5 million users from 120 countries within a year of launching. The ecosystem includes a decentralized marketplace, PlatinDeal, that accepts various cryptocurrencies as payment, a crowdfunding service called PlatinHero, and a PLC Card with high daily spending limits that can be topped up with a dozen leading cryptocurrencies and fiat currencies.
PLCU is its native token, and the growing demand for this token proves that interest in such solutions among a wide range of cryptocurrency users is moving towards mass adoption. In December, PLCU entered the list of 10 most trending cryptocurrencies in India by Coingecko, alongside veterans such as Bitcoin and Ethereum.
FET
Fetch AI is a decentralized machine learning network that utilizes blockchain technology and artificial intelligence to create an economic Internet of Things. FET, the native coin of Fetch AI, serves as the primary method of value exchange on the network.
Fetch AI aims to automate numerous markets that currently require extensive manual intervention. Through autonomous economic transactions, seamless markets that operate at digital speed can be established, and agents can interact with each other without the need for human intervention.
In recent times, the popularity of ChatGPT has rekindled interest in the IT sector, particularly in the cryptocurrency market. AI-based tokens have been identified as a sector with significant potential to lead the next bull market cycle, attracting attention from well-known traders with large followings. It’s essential to note that the interest in AI-based coins is largely speculative and driven by the hype surrounding chatbots. This should be kept in mind when considering investing in such coins.
SOL
Solana is an open-source blockchain platform that enables the development and execution of decentralized applications (DApps) with smart contracts. As a platform, Solana competes with Ethereum, which currently holds the majority share of the DApps market. However, Solana has some significant advantages over its competitors.
Solana is known for its fast and cost-effective transactions. It has the capacity to handle up to 65,000 transactions per second, and the average cost per transaction is just $0.00025. Solana uses a unique algorithm called proof of history to validate transactions. This hybrid protocol combines proof of stake with proof of history mechanisms, resulting in even faster processing speeds.
The SOL exchange rate experienced a sharp decline during the crypto winter, and further dropped after the FTX crypto exchange, which held a significant amount of SOL, suffered a collapse. Despite these challenges, Solana managed to weather the storm. When the crypto market enters a growth phase, it is expected that the SOL rate will rise in an accelerated manner, making up for the losses incurred in 2022.
RARE
According to some analysts, NFT marketplace coins have become the new sought-after investment opportunity. A surge of interest in them began after reports of Amazon’s plans to launch its own NFT-based ecosystem. Amazon aims to enter the market for the sale of gaming NFTs and Web3 tokens. Similar to chatbots and AI-related cryptocurrencies, interest in a particular project has uplifted the entire sector.
SuperRare is one of the earliest trading platforms for non-fungible tokens (NFTs). Users can mint, sell, and buy NFTs across various categories, including art, photography, games, metaverse, and music.
The RARE token, which serves as the governance token for SuperRare DAO, has experienced a record decline of 94% from its all-time high. However, it still has the potential to recover lost positions and grow in value. The growth of this coin is further supported by the fact that it is the only NFT marketplace token traded on a large cryptocurrency exchange such as Binance. This translates to more exposure compared to other similar coins.