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3 tokens to buy now to ride the next cryptocurrency surge
These tokens have high upside potential and may be worth purchasing despite the high risk levels
Financial markets have seen high volatility this year, but mostly on the upside. Higher-growth stocks and cryptocurrencies have seen huge gains compared to their respective benchmarks. For those who are looking for tokens to buy and who are optimistic that this rally will continue, this could mean that getting out of the risk spectrum could pay off.
I’m not one to suggest that buying and holding old altcoins for the long term is a good strategy. In fact, most projects in this space are likely to lose much of their value.
But there are pockets of potential growth worth considering here. As far as altcoins go, there are some particular tokens to buy that caught my attention. Let’s find out why investors might want to consider these digital assets right now.
NEAR Protocol (NEAR-USD)
Source: shutterstock.com/FellowNeko
NEAR protocol (NEAR-USD) emerged as a prominent blockchain player in the first quarter of 2024. In fact, NEAR’s recent surge has led this token to surpass its 2022 all-time high. Total value locked has skyrocketed to 335 million dollars, outperforming its rivals BTC and ETH. Daily transactions and market capitalization of stablecoins have increased, indicating solid investor confidence and ecosystem growth.
NEAR is experiencing price fluctuations, indicating a balance between buying and selling pressures around a key level. Our forecast predicts NEAR will reach $20 by the end of 2024, driven by development milestones, ecosystem growth, and blockchain adoption. By 2030, NEAR could rise to $100 or more, driven by broader industry adoption and the maturation of decentralized applications (dApps) on its platform.
Despite challenges such as market corrections and regulatory concerns, the NEAR protocol shows resilience and potential for sustained growth. With a strong community and solid technology, NEAR is ready to seize the emerging opportunities of blockchain. In the United States and around the world, optimism about NEAR is rising, driven by its potential to innovate industries through decentralization. This growing confidence suggests a positive outlook for NEAR’s future growth and ecosystem.
Sui (SUI-USD)
Source: Marko Aliaksandr/ShutterStock.com
THE Come on (SUI-USD) the blockchain has recently seen a surge in activity, surpassing Solana with over 41 million daily transactions. This spike suggests growing adoption and suggests a potential rebound in SUI token prices. Known for scalability and low fees, Sui recorded an unprecedented 40.96 million daily transactions, far exceeding its usual average of 1-2 million. This surge could be attributed to increased blockchain adoption, the potential launch of new dApps, and recent partnerships with BytePlus and First Digital.
Sui’s zkLogin introduces multi-signature recovery and Apple account support, offering advanced user options and robust account recovery methods. This feature is valuable in the event that the credential issuer or app becomes down. zkLogin, powered by Sui’s cryptographic flexibility, simplifies the user experience by allowing access to social networks, including Google, Facebook and Apple, without managing private keys.
This addition benefits iOS users by simplifying wallet creation and improving security. The multi-signature feature offers a vital account recovery option, allowing users to access their wallets regardless of issuer or zkLogin app.
Aptos (APT)
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This week, Aptos (APT-USD) blockchain has released over $102 million in tokens, sparking attention in the cryptocurrency community. Aptos, known for the scalability and efficient operation of dApps, saw its largest token release, possibly causing market fluctuations. Investors are closely watching potential changes in Aptos’ price and liquidity.
Aptos Labs, led by former Facebook employees, continues its mission to enable global access to decentralized resources. On May 9, they announced new consultants, including David Lawee, former vice president of Google, who aims to connect blockchain to mainstream users. Pamela Drucker Mann, CRO of Condè Nast Global and Dan Boneh, Stanford professor, have joined the Aptos advisory board.
Mann will enhance Aptos’ culture, while Boneh will bring expertise in cryptography and cybersecurity to infrastructure and security. “Aptos Labs aims to expand access to financial empowerment, digital experiences and social connectivity around the world,” Lawee said. You have expressed enthusiasm in bringing Web3 to mainstream users. Lawee’s move follows his departure from CapitalG in March 2023 after 17 years at Alphabet.
As of the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com Guidelines for publication.
Chris MacDonald’s love of investing led him to earn an MBA in Finance and take on numerous leadership roles in corporate finance and venture capital over the past 15 years. His past experience as a financial analyst, combined with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investment outlook.