- Current market conditions are rather challenging. Bitcoin continues to tread a bearish path.
- The majority of altcoins are experiencing declines, with some facing extreme losses. Despite this, experts are identifying potential altcoin gems that might recover some of these losses.
- Stu L., a crypto specialist from the AltcoinBuzz team, brings attention to a few noteworthy altcoins that might be worth looking into during these turbulent times.
Discover the top-performing altcoins that may offer promising returns despite the current market downturn, as highlighted by an expert in the field.
First Top Altcoin: ChainGPT (CGPT)
ChainGPT offers a plethora of features, including an easy-to-use SDK and API access, which makes it an attractive option for developer teams. One of its most underrated features is the ChainGPT Launchpad, which enables crowd-funding not just for AI, but also for DePIN, decentralized social, or other Web3 projects.
The platform’s market value is lower than expected considering its tools, with a current market cap of under $80.2 million and a price below $0.20. With 489 million of its total 998 million supply in circulation, there is substantial room for growth. The CGPT token has seen a 65% increase over the past year, although it has dipped by 23% in the past month. This performance stands strong compared to most altcoin projects in 2024 so far.
Second Top Altcoin: Hivemapper (HONEY)
The second standout altcoin is Hivemapper, often dubbed the Web3 version of Google Maps. Operating on Solana, Hivemapper has mapped 19% of the world’s roads, giving it a significant edge over competitors. This decentralized protocol is supported by over 143,000 participants, leveraging Solana’s infrastructure despite its perceived centralization.
Hivemapper’s native token, HONEY, currently trades at around $0.08, with a market cap of $133 million. Even though it has seen declines of 60% over the last three months and 18% in the last 30 days, HONEY has still gained 378% over the past year. There are speculations that HONEY could return to its recent high of $0.20, offering a potential 2.5x return.
Third Top Altcoin: ClearPool (CPOOL)
The final altcoin in the spotlight is ClearPool, significant in the Real-World Asset (RWA) sector. It operates as a decentralized credit marketplace, catering mainly to institutions with stringent KYC and AML checks to ensure regulatory compliance. Among its clientele is Banxa, which borrows USDC using ClearPool for funding crypto transactions made via bank cards or Google Pay.
The CPOOL token is trading at $0.17 with a market cap of $103 million. The token has seen remarkable increases: 44% in the last month, 100% over the past three months, and an impressive 692% in the last year. This growth trajectory suggests substantial potential, attracting increasing attention from investors.
Conclusion
In conclusion, while current market conditions remain difficult, altcoins like ChainGPT, Hivemapper, and ClearPool demonstrate significant potential for recovery and growth. Investors should consider these altcoins for their potential to provide returns despite the prevailing market trends. However, it’s essential to conduct individual research before making any investment decisions.
