A funny thing happened on the way to alt season…..Old legacy utility coins started pumping again.
Like XRP, BNB, and even Tron Is it possible that older, durable projects that have survived many bull and bear market cycles are back in style again? Possible especially with the undervalued coins. Here are 3 altcoins we expect will pump as we’ve seen from XRP and BNB this week.
1) Avalanche (AVAX)
First, we have Avalanche. It’s starting a nice run that we think can continue from here. The 137% gain in the last 12 months is all from the last 30 days. And considering that Avalanche is a top 15 project, this move has been pretty quiet. We see room for even more moves here. Here are 2 reasons.
- Avalanche 9000
First, we have the huge Avalanche 9000 upgrade. With this upgrade, a builder can create any type of Layer 1 chain they want with their own staking or gas tokens without needing to use $AVAX. It also allows automatic integration with the Avalanche C-Chain.
Since it’s been a while, Avalanche has 3 chains. The main chain of activity is the Contract or C-Chain. It is the EVM chain for Avalanche. Many of the apps you use are on the C-Chain like DEX Trader Joe or liquid staking protocol Benqi.
Avalanche9000 is now live on Fuji Testnet with up to $40m in grants on Retro9000.
What does this mean for you? pic.twitter.com/fTsmNQNuXD
— Avalanche9000 (@avax) November 25, 2024
The 9000 upgrade lets the developer build whatever style project they want, yet integrate with this important chain. It’s in testnet now. Also, $40 million in grants are available to builders that want to build on the 9000 upgrade.
- Subnet Growth
Avalanche itself is a Layer 1 chain. But it has these subnets. Using AVAX tools, you can create your own Layer 1 chain on a subnet. This makes Avalanche more valuable as a Layer 1 but also with Layer 0 capabilities like Cosmos. DeFi Kingdoms was the first game to come over and create its subnet on Avalanche. But many have followed.
Transactions per second are growing across all subnets. That’s a sign of more users on more subnets. Total transaction counts are rising, too.
With Project Ridge, Union will integrate IBC Warp Messaging into Avalanche L1s using a secure, trustless light client architecture.
Welcome @union_build to Avalanche https://t.co/D0JgGsjdfv
— Avalanche9000 (@avax) December 5, 2024
Add improvements in other areas like the Core Wallet and Avalanche and the $AVAX token are not just primed for growth. They are positioning themselves to stay one of the leading Layer 1 chains in the industry.
2) Stacks (STX)
Next, we have Stacks. Stacks is one of our favorite Bitcoin Layer 2 projects. Stacks and its $STX token are up a whopping 75% in the last 30 days and 173% in the last year. This is a much better 12-month performance than most alts.
Discover the institutional & regulatory excellence of the Stacks Ecosystem
– Grayscale $STX Trust
– STX in Coinbase’s Coin50 Index at 22
– BitGo as an institutional signerStacks: the leading Bitcoin L2 – An ecosystem building with institutional credibility and compliance. pic.twitter.com/NpOpcRX5xb
— stacks.btc (@Stacks) December 4, 2024
But its pump, like the other 2 in this video today, has been quiet. There’s no hype around it at all. Stacks is doing a lot of great things. And most of them quietly. Here are 2 things we like a lot and believe will help keep $STX holders happy with their investment
- sBTC
We’ve highlighted sBTC before. Its decentralized nature and lack of custodians make it different than other wrapped Bitcoin products. It is the safest wrapped Bitcoin token in the market today. And that’s partly due to the lack of custodians. But it’s also because your transactions settle on the Bitcoin blockchain. Not on another chain or some custodian’s ledger.
Stacks’ sBTC will pave the way for the Bitcoin economy
sBTC is being embraced by the crypto world, with many leading entities and institutions adopting Stacks’ novel way to move BTC to the $STX L2.
Let’s highlight a few of them in this thread, starting with Solana 1/6 pic.twitter.com/SDfQLUQP9p
— stacks.btc (@Stacks) December 4, 2024
Thanks to the growing popularity of Coinbase’s cbBTC like its recent launch on Solana, wrapped BTC products are in the public eye. And if you want programmable Bitcoin or Bitcoin for DeFi, the safest option we’ve seen is Stacks and its sBTC.
- Growing Ecosystem
Stacks has a small but fast-growing ecosystem. The Alex DEX is the largest project in the ecosystem right now. It has some great pool offers including a pool offering 10.8% if you hold $STX and Stacks Bridged Tether sUSDT. This is a very good deal for 2 tokens you likely have already. There are some nice Bitcoin yields as well as BRC-20 pools for you Ordinals fans.
The Bitcoin DeFi ecosystem on Stacks is thriving
Shoutout to the incredible Bitcoin builders on the leading Bitcoin L2 for pushing the boundaries of what’s possible on Bitcoin!
sBTC: Soon. pic.twitter.com/Cyr9BbZy1L
— stacks.btc (@Stacks) December 7, 2024
Another interesting one is Arkadiko. With this platform, you get to mint your own Bitcoin-backed stablecoin USDA. The other big feature here is Bitcoin-backed loans. As Bitcoin’s price continues to rise, more long-term holders will look to borrow against it instead of selling their BTC positions. Both these and other protocols in the Stacks ecosystem have great potential and should keep $STX growing over time.
3) Quant (QNT)
Last today, we have another old favorite of ours from way back when. Quant. When you look at that last year, it looked pretty rough until about a month ago. Over the last 12 months, $QNT is up a respectable 45%. But it was down so bad that all of these gains are in the last 30 days and more. Over the last 30 days, $QNT is up 160% absorbing all the earlier year losses.
Quant is about interoperability. They are about making it as easy as possible for an existing enterprise business to create its blockchain for Web3 benefits. They do this through their Overledger Platform. Quant operates as a Layer 0 a la Cosmos or Polkadot. This gives lots of flexibility to builders to build the chain they need. Here are 2 reasons we expect this big recent pump to continue.
- Integrations & Partnerships
Put simply, Quant is crushing it in this area. You can’t be the easy answer for legacy businesses to create a blockchain specific to their needs and not have legacy business partners.
They are already working with many of the world’s largest banks, central banks, and payment platforms like Visa or MC. Oracle and the Bank of International Settlements or BIS are 2 other important partners for Quant. Quant is working with all the leaders in the areas important to the project.
Gained a lot of followers lately
With a value of ONLY 2B (rank #75), $QNT is arguably the best Risk/Return opportunity this cycle$QNT is CONFIRMED working the world largest (Central) Banks, financial institutions and leading enterprises$XRP $ALGO $LINK $HBAR $XLM $XLM pic.twitter.com/ggzG30CzKI
— San (@SanNL11) December 3, 2024
- CBDCs
Now I know this is controversial. Some of you out there will say that even talking about a CBDC or Central Bank-issued Digital Currency is against everything crypto is for. And I get it. I do. I’m with you on this. I don’t like them and don’t want them.
But then we have a different question. Are CBDCs coming to the market? Sadly, without a doubt, the answer is Yes. We talked about this one with Quant and the Bank of England over a year ago. Quant works with potential CBDCs in 2 different ways. It can:
- Work with a Central Bank directly to create and operate a chain for a CBDC OR
- Work to connect CBDCs for larger, more complex, or cross-border transactions like SWIFT does now.
L1 coins have risen significantly. Next, interoperability that connects various blockchains will gain attention. It can connect each country’s CBDC, stablecoins, and public chains like ETH and Ripple.$QNT (Quant)
ISO/TC307, IETF SATP.$xrp $xlm $btc $hbar $algo pic.twitter.com/QThd0LMQ3A
— ywqnt (@Quant5000) December 3, 2024
Of the two, connecting CBDCs to allow people from different countries to transact with each other is the bigger opportunity. Both could be big money-makers though.
CBDCs are coming whether we like them or not. Quant is an opportunity to make money from the trend. The $QNT token should continue to grow for years to come if these partnerships and new opportunities like CBDCs keep coming their way. So far, they are taking full advantage and we expect that to continue.
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