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(Kitco News) – With the quadrennial cryptocurrency bull market now underway, many investors are interested in taking part in the volatile price action but are unsure of which tokens offer the best opportunity amid the tens of thousands of options available.
While it’s true that many tokens will see their prices increase from 100 to 1000 times, the vast majority will also lose their value just as quickly, making the crypto market a perilous place for the uninformed.
There’s also no shortage of scammers and less-than-honorable influencers who are willing to shill their obscure bags with the hope of enticing FOMO-driven traders to pump their tokens, allowing them a clean exit during the rise in liquidity, which soon falls off a cliff, leaving bag holders with no reliable places to sell their illiquid tokens.
But there are also plenty of reputable individuals and helpful websites willing to share researched insights into the latest developments, token launches, and on-chain activity that can help provide curious investors with a good list of tokens worth taking a closer look at.
John Deaton, managing partner of Deaton Law Firm and founder of CryptoLaw, recently took to X to share his list of the “10 tokens to own for the next 12 months (as a trade)” with his followers.
The list includes the expected names, Bitcoin (BTC) and Ether (ETH), as well as XRP and Solana (SOL), two tokens that have been well covered across cryptocurrency new outlets.
Deaton’s remaining picks include Quant (QNT), Render (RNDR), Kaspa (KAS), Avalanche (AVAX), Hedera (HBAR), and Casper (CSPR).
One of Deaton’s followers was quick to point out that several of these picks (XRP, QNT, HBAR, CSPR) are tokens that meet the ISO 20022 standard, which has gained significant importance in the financial industry as a unified messaging standard for electronic data exchange between financial institutions. While initially developed for traditional financial transactions, the standard has now expanded to include the world of cryptocurrencies.
ISO 20022 brings standardization and interoperability to the crypto space, ensuring smoother communication between various platforms and participants. For that reason, many analysts see tokens that meet the standard as good long-term options.
Other tokens that meet the standard include Algorand (ALGO), Constellation (DAG), XDC Network (XDC), IOTA (MIOTA), Stellar (XLM), and LCX (LCX). Many analysts have highlighted these tokens as long-term survivors.
Another good source of information is Cryptorank, which provides a list of trending cryptos, breaking them down by the most searched and the most visited.
Top trending tokens. Source: Cryptorank
The current list of the top 20 leaders over the past 30 days contains many of Deaton’s picks – including BTC, ETH, KAS, XRP, SOL, RNDR, and AVAX – as well as other popular projects and flash-in-the-pan meme coins.
One way to help narrow down this list is by looking at the total market capitalization. Lower cap projects tend to carry a lot more risk, while those with a higher capitalization are often seen as “safer” choices, although many analysts say that no crypto (besides Bitcoin) is safe.
Based on this list and a survey of analysts’ reactions, some of the yet unmentioned tokens for interested investors to do their own research on include Celestia (TIA), Sui (SUI), Arbitrum (ARB), Optimism (OP), and Aptos (APT).
X users like Lookonchain can also provide helpful insights into what tokens “whale” crypto holders are accumulating. A recent post by the user shows that both “whale and fresh wallets are accumulating” Maker (MKR), ssv.network (SSV), and Coin98 (C98).
While these insights can be helpful in identifying tokens to research, additional caution is warranted as large token movements by small-cap coins are often a sign of price manipulation.
Websites like DeFi Llama offer detailed information about the decentralized finance ecosystem, including things like total value locked (TVL), number of active users, and platform revenues. Projects with higher TVLs are generally seen as more legitimate, with analysts focusing on established players who are less likely to disappear.
The top 5 projects by TVL with tradable tokens, according to DeFi Llama, are Lido DAO (LDO), Maker (MKR), Aave (AAVE), Uniswap (UNI), and Rocket Pool (RPL). All of these tokens have been mentioned positively by analysts across the crypto ecosystem.
Experienced crypto traders also know that bull market cycles happen in phases, with tokens often moving as sectors. It’s rarely the case where the entire market sees a massive pump at one time.
A survey of crypto Twitter shows that popular sectors include DeFi (UNI, MKR, AAVE, LDO), gaming, meme tokens (Dogecoin, Shiba Inu, Pepe), layer-one’s (BTC, ETH, SOL, AVAX, KAS), layer-two’s (Polygon, OP, ARB), artificial intelligence (RNDR, Fet.ai, SingularityNET) and specialized chains (ChainLink).
Some of the most talked about gaming tokens include Illuvium (ILV), Vulcan Forged PYR (PYR), Axie Infinity (AXS), Beam (BEAM), Immutable (IMX), The Sandbox (SAND), and Nakamoto Games (NAKA).
This is by no means a complete list of promising projects, and should not be considered as investment advice. Rather, it’s intended to provide insight into what experienced crypto traders are interested in and a good starting point for anyone interested in the crypto space to begin doing their research.
As the crypto trader mantra goes: “Do your own research!”
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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