Among the zillions of coins listed on the market, which one(s) do you think is/are undervalued right now? And why? I believe Litecoin is an undervalued cryptocurrency because of its limited supply (84m coins), greater transaction capacity (than Bitcoin), and built-in privacy features (Mimblewimble). I also believe Elastic (XEL) and Golem (GNT) are undervalued as they're decentralized supercomputing networks with limitless potential.
What is/are your pick(s)? Your input would be greatly appreciated. Thank you very much.
What is/are your pick(s)? Your input would be greatly appreciated. Thank you very much.
I used to think the same for litecoin. But now I have realized that there are many more options where people can invest and though crypto market would always increase in valuation, the total market cap of each coin might not increase or in worse case, decrease. There are too many new and promising coins, there are hypes on memecoins where traders pour large sum of money. There are newer coins like Solana that promises better utility. With so much new and better options to invest, older coins that are 2 years+ in operation and still hasn't caught up a large market would soon disappears and newer coins overtakes them.
So much more options and cheaper too which if a little increment of its price increases, you can already take a profit.
The bull run for altcoins however seem not happening yet and I doubt there will be in a few months, I think all the institutional investors are only aiming or BTC and ETH ETF these days while the regulations are yuet not ironed.