Altcoins that can show explosive growth
The parabolic growth in the last days of the ETH/BTC pair proves the beginning of the altcoin season, experts say.
Along with Ethereum (ETH), other altcoins are growing, including Dogecoin (DOGE).
Well-known analyst and crypto trader Mikael van de Poppe drew attention to the altcoin market, noting that in the coming weeks their profitability will significantly exceed the results of Bitcoin.
For example, Van de Poppe mentions the distributed web protocol Holochain (HOT), which in early April reached a historic high of $0.031. The second rally will occur during the next wave of the altcoin season, probably around mid-June, the expert believes.
Two other assets with significant growth potential are the Swipe smart wallet token (SXP) and the Teller Oracle project (TRB).
Crypto trader and analyst Tyler Swope notes two promising new altcoins that could benefit from the clean energy fashion. He invested in Ocean Protocol (OCEAN) and NuCypher (NU), which are indirectly related to Elon Musk's $100 million initiative to remove greenhouse gases.
The four-year global initiative is supported by XPRIZE. The OCEAN project ranks 134th in the ranking by market capitalization and has repeatedly collaborated with XPRIZE in the past.
The privacy-focused NuCypher (NU) protocol, ranked 275th in the ranking, was created thanks to the Creative Destruction Labs development program. Creative Destruction Labs, a nonprofit organization, has partnered with XPRIZE to implement Musk's initiative.
Analyst Il Capo distinguishes Syntropy (NOIA), Binance Coin (BNB), Band Protocol (BAND), Balancer (BAL), Litentry (LIT), Zilliqa (ZIL), TomoChain (TOMO) and Hedera Hashgraph (HBAR) from altcoins.
The unusual growth of Dogecoin (DOGE) also received a reasonable explanation, cryptoonliner writes. Billionaire investor Mark Cuban notes that this is one of the few cryptocurrencies that are used directly for transactions, and not through services such as BitPay. Dogecoin is indeed accepted by some sports clubs and other businesses that rely on community coins.