Top 5 Altcoins to Buy Right Now According to a Crypto Analyst
- Altcoins continues to capture lots of the crypto market cap and investors.
- Youtube crypto analyst points out the top 5 tokens he feels will have a bullish end of the year.
- OHM, KLIMA, REN, KILT, EWT makes it to the list.
One of the intriguing factors about the crypto space is the constant yearn to learn more and gather better information. Moreover, crypto traders and investors always seek to know the best crypto to invest in or trade. Due to that, many self-acclaimed crypto experts devised many mediums to pass on crypto information such as market news, analysis, price prediction, and general crypto data. Today, the focus is on the top 5 altcoins having a very bullish end of the year according to a Youtube crypto analyst ‘Chico Crypto.’
1. Olympus (OHM)
The first altcoin as specified by ‘Chico Crypto’ is Olympus DAO (OHM). So why OHM? Olympus is a decentralized reserve currency protocol, where each OHM token is backed by a basket of assets in the Olympus treasury. The Treasury started with only holding DAI, and that backing back then was only one DAI. This quickly evolved to include more coins such as FRAX, LUSD, SUSHI, ETH as well as LP tokens, such as OHM-DAI from Sushiswap in a short amount of time.
As per his views, Olympus has become one of the most diversified non-protocol token treasuries in crypto. Its Treasury isn’t just made up of, OHM, it’s made up of other very valuable crypto assets. Its market cap is over 1.2 billion as of November 28 and trades at $732.02.
Olympus amasses its treasury by simply buying Treasury assets from investors at their risk-free value and pays them back with OHM at a discount after a certain vesting period, which is currently five days.
2. Klima DAO (KLIMA)
Number two cryptocurrency Klima DAO has taken and forked the OHM protocol to create the world’s most liquid market for carbon credits while accelerating the price appreciation of these carbon assets. Meanwhile, in Olympus DAO, each own token is backed by the basket of crypto assets in the treasure.
However, on Klima DAO, every KLIMA token is instead backed by BCT tokens, base carbon tonnes which basically are on-chain carbon credits from the Toucan protocol. KLIMA has amassed in only a short while over 11.2 million tons of carbon in its treasury, which is now worth over $100 million.
He asserts that KLIMA is accomplishing its mission of appreciating the prices of carbon credits. The launch of Klima DAO on October 18 has already had an impact on the market with the price of renewable carbon credits seeing a fast increase in the month of November itself, the Platts Renewable Energy Current Year assessment has surged nearly 63%. It was assessed at $7.20 per credit on November 22, up from $2.3 per credit on August 9. At press time, KLIMA trades at $1,248.19 according to CoinMarketCap
3. Ren (REN)
According to Chico Crypto, this pick has to do with interoperability between chains as that narrative is about to see the hype. While it ranks 137 on CoinGecko, looking back to March of this year, Ren was actually ranked number 82. He says he feels Ren is going to recapture the top 100 cryptos and possibly even capture its old March rank and even further. At press time, REN’s price is $0.910216.
Earlier on, Ren announced on Twitter (NYSE:) that its host to host was coming to their protocol. According to Ren’s Ecosystem advocate, Maximilian Roszko, H2H means RenVM will be able to bridge native coins and tokens between the chains IT support becoming a full-scale bridge. Ren VM will go from supporting seven assets, mostly legacy coins such as (BTC) and (DOGE), to being also able to support most of the tokens in the crypto space.
4. KILT Protocol (KILT)
The KILT Protocol, according to the analyst, has a lot to do with . KILT is a blockchain protocol for issuing self-sovereign verifiable revocable anonymous credentials that enable trust market business models in Web 3.0. It’s a blockchain about decentralized identities (DIDs).
Furthermore, the KILT token is one that’s going to work across both chains. It was launched as a crowd loan on Polkadot’s canary network Kusama, but at the end of the Kusama parachain lease, they will eventually migrate to their parachain on Polkadot. Only a single token for both Kusama and Polkadot, not multiples. This is big, this is the first time and when this happens they have some big stuff up their sleeves. He continues to say that even DonnieBigBags tweeted about it, he stated that
KILT is the reason he got into GLMR/MOVR. They’ve been working on a liquidity mechanism for Polkadot — Polimec. Regulators will crackdown on DEXs. KILT will create a fully regulatory compliant DeFi infrastructure.
KILT Protocol currently trades at $9.21 with a trading volume of $3,665,895 as per data from CoinMarketCap.
5. Energy Web Chain (EWT)
Finally, at number five is the Energy Web Chain (EWT). Energy Web Chain is a blockchain-based virtual machine built to assist and aid application development for the energy sector. Its operational token behind the Energy WebChain is Energy Web Token (EWT).
He discloses that Energy Web recently updated their validator code of conduct, and in it, they have a section on Obvious Rent-seeking. They say “Validators who are transparently motivated solely by EWT block rewards, abuse their position as validators to create deleterious effects on EWT markets, and/ or do not contribute to the mission and success of the EWT ecosystem, as described above, will face temporary suspension and or expulsion from the validator set. He adds that something big is coming for the energy web by the end of the year, which is staking. Well, Jessie Morris, CEO of energy web tweeted about this saying
staking is a foundational tool for bringing the Energy Web Stack to market. Staking will soon enable individuals and companies to invest in certified renewable energy projects and bring enterprise-grade solutions to the market.
On a final note he sums up by saying that EWT is connected to KILT and KILT is connected to Polkadot. EWT will eventually become a relay chain, connected right back to Polkadot. Of note. EWT presently sells at $9.31 per unit.