3 High-Growth Cryptos Poised for a Major Breakthrough
As the crypto market recovers, the search for high growth cryptos is ongoing. Of course, the most popular names in this industry continue to be Bitcoin (BTC-USD), Ethereum (ETH-USD) and other mega-projects. That said, many other cryptocurrencies have been gaining traction lately.
As investors seek to move up the risk spectrum to capture more of this movement, some lesser-known high-growth cryptos may attract more attention.
Considering the thousands of digital assets that currently exist, it is impossible to review all the projects. However, I have a few cryptos with high growth potential on my watchlist that I think investors may want to consider. In a bullish market, these tokens could have one of the best upside potentials.
Solana (SOL-USD) is one of the cryptos I have remained bullish on. In the world of large-cap cryptocurrencies, I still think Solana has the highest growth potential – and probably also the highest risk profile – among its peers.
This layer 1 blockchain network works in a decentralized way, allowing developers to deliver decentralized applications (dApps) with scalable infrastructure. This definition bears a striking resemblance to that of Ethereum, which adds to Solana’s appeal as it poses a challenge to Ethereum’s dominant position in the cryptocurrency industry.
This cryptocurrency is one of the fastest blockchain technologies on the market, because it was designed to handle an impressive number of operations per second. Its native cryptocurrency, SOL, has become increasingly popular thanks to its fast transaction capabilities and low transaction fees – two areas that have proven difficult for Ethereum.
Similar to Ethereum, Solana offers cross-chain compatibility with other blockchains. Thus, Solana is expected to be a key player in potential cryptocurrency breakthroughs in banking, the economy, and the community. Instead of looking for the next cryptocurrency that can generate quick profits, it is prudent to stick with SOL, which can potentially generate substantial returns with less risk.
Introduced in 2019, Ghost (FTM-USD) East I think a smart contract layer 1 blockchain platform is worth considering. Fantom uses a special Proof-of-Stake (PoS) consensus process called Lachesis which uses an asynchronous Byzantine fault-tolerant (aBFT) PoS protocol based on the Directed Acyclic Network (DAG) engine.
It’s a salad of words to say that Fantom’s proof-of-stake network enables fast operations and short verification periods, perfect for decentralized applications requiring fast and efficient data transfer.
Fantom’s user growth and partnerships have complemented the project’s significant developer adoption. Notable collaborations include partnerships with the Afghan government to help monitor supply chains and with the University of Sydney to create low-power programming tool chains.
After peaking in January 2022 at $3.36, the price of FTM has fallen. It broke through support at $0.20 to hit a low of $0.164 in November, losing 95% of its value. However, the trend has since reversed. Fantom’s price has been on an upward trajectory, almost tripling from its lows.
Fantom’s strong technical performance, aligned with its fundamental strengths, could mean this crypto is poised for continued breakthrough.
Manufacturer DAO (MKR-USD)
ManufacturerDAO (MKR-USD) is a rather unique high-growth crypto to consider. This stablecoin project is well known for its Dai USD (USD-DAI) stablecoin.
The goal behind DAI is remarkable. Maker sought to create a decentralized stablecoin that retains its purchasing power. Given the inflation concerns right now, it’s an interesting discussion.
However, with the recent banking crisis creating turmoil in the crypto markets, stablecoins such as USD Coin (USDC-USD) have lost their peg to the dollar. Investors were just too concerned about a run on the financial system and its potential impact on digital assets.
That said, MakerDAO has created a contingency plan to protect its flagship stablecoin. This action has been taken to protect DAI from further exposure to any potential market instability.
Of the stable projects with significant upside potential to consider, Maker’s DAI might be the best of the bunch. Of course, significant risk still exists in this space. But Maker is a project that I think is worth exploring for those looking for growth.
As of the date of publication, Chris MacDonald holds a position with the SOL. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.