The crypto market seems to have taken the green path, after undergoing a series of collapses and slowdowns this year. Does that mean the market is finally getting back on its feet? Or, is the worst yet to come?
Only time can tell. By the looks of it, a slow recovery is on the cards for the market. It is about time many cryptocurrencies reversed their losses, while some are better off dead. At the end of the day, it comes down to the value and innovation a project is building. In this article, we take a look at five cryptocurrencies worth keeping an eye on for the rest of the year.
1. Lucky Block (LBLOCK)
The first on the list is Lucky Block, a gambling and sports betting token that recently launched an updated version of its product. The new look and features are driving more traction to the project and fueling demand for the token. As the platform reaches more users in the next few days, LBLOCK tokens are predicted to go on a bull run, giving 3X-5X returns to investors who bought the dips.
Lucky Block price history, 2 Dec 2022, CoinMarketcap
With football fever getting stronger by the day, the sports betting section of the platform is witnessing a fast-growing influx of users. It features leading spectator sports for betting, in addition to 15 eSports like League of Legends, Counter-Strike, and Arena of Valor. Real-sports betting, on the other hand, covers soccer, basketball, tennis, ice hockey, volleyball, handball, table tennis, American football, baseball, boxing, Aussie Rules, rugby, Formula 1, and cricket.
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LBLOCK is one of the most undervalued tokens of 2023, having fallen prey to the LUNA collapse, FTX fall, and broader market slowdown. It is expected to claim a large share of its value in the coming weeks and months.
2. Shiba Inu (SHIB)
The next crypto that may be on a reverse trend is Shiba Inu, the meme coin sensation that lost almost 89.63% in 2022 amid the series of crashes. While some crypto analysts and industry experts believe that the meme coin is as good as dead, some still have faith in it.
Shiba Inu price history, 2 Dec 2022, CoinMarketcap
News around the integration of Shiba Inu into platforms like Twitter could reinstate the token’s lost glory. Even if Dogecoin is chosen over Shiba Inu on Twitter, more platforms may follow in the footsteps of Twitter and integrate meme coins into their payment systems. Shiba Inu’s upcoming metaverse features also give strong hope of recovery.
3. Cardano (ADA)
Cardano is one of the blue-chip cryptocurrencies out there. At 89.90% down from its all-time high, the token has a long way to climb up. That translates to generous returns for investors. The token’s steep downturn can’t be interpreted as price corrections if we factor in the developments going on in the network.
Cardano price history, 2 Dec 2022, CoinMarketcap
Cardano is planning to host a diverse range of projects, including some much-awaited stablecoins. This includes over-collateralized algorithmic and U.S.D-backed stablecoins.
#EMURGO, the official commercial arm and a founding entity of the @Cardano #blockchain, announces the planned launch of its new U.S. Dollar-backed stablecoin, #USDA. A first fully fiat-backed, regulatory compliant #stablecoin in the #Cardano ecosystem.
🔗:https://t.co/I035EKi78f pic.twitter.com/uyCO9SOe8Z— EMURGO (@emurgo_io) November 18, 2022
4. IMPT (IMPT)
IMPT needs no introduction. The Web3 green initiative is now hosting a presale of its native token, garnering interest from both the crypto and non-crypto sides of the world. IMPT introduces a large ecosystem that is aimed at making carbon offsetting accessible to all.
It realizes this through a carbon credit marketplace, a shopping app, and a social platform. The IMPT marketplace converts carbon credits into NFTs to provide better transparency in their transfer and ownership. The IMPT shopping application rewards users for purchasing from environmentally-responsible brands. The businesses set aside a percentage of their sales margin to the carbon program. And the IMPT social platform helps you keep track of carbon-offsetting initiatives through a bespoke scoring system. It gamifies carbon offsetting and builds awareness around climate action. Both businesses and individuals can be a part of the social media platform.
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— IMPT.io (@IMPT_token) December 1, 2022
Together, the applications bring climate action to the mainstream. IMPT’s unique vision and approach have earned it a large community of followers. The tokens are fast selling out now in anticipation of a bull run on public launch. The project has large long-term growth potential.
5. Fantom (FTM)
We wrap up this list with Fantom, a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using a new consensus algorithm. The open-source project was created as an alternative to popular blockchains like Ethereum.
Although most Ethereum-killers have lost relevance after the Merge, Fantom still remains a favorite owing to its set of tools that simplify the integration of existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.
Fantom price history, 2 Dec 2022, CoinMarketcap
The token is 92.87% down from its all-time high. The current trends hint at a small, yet significant, bull run for Fantom in the coming weeks.
Image by Andy from Pixabay
