As the broader crypto market consolidates, one industry analyst has identified a select group of altcoins that could see exponential gains during the anticipated 'super-cycle' expected in late 2024. Analyst OxNobler explains the cyclical nature of the market and outlines factors driving the upcoming uptrend.
According to the analyst, the market follows a four-phase cycle: Accumulation, Markup, Distribution, and Markdown. We are currently on the brink of entering the Uptrend phase, driven by factors like the US election, potential rate cuts, global adoption of crypto ETFs, technological advancements, and China's regulatory changes.
Drawing from this insight, the analyst has curated a list of six altcoins poised for substantial growth. The tokens cover sectors such as artificial intelligence (AI), decentralized finance (DeFi), real-world asset (RWA) tokenization, and more.
First on the list is Numerai, an Ethereum-based platform for developers and data scientists to create machine learning models. With a current price of $11.75 and a market cap of $86 million, Numerai's position in the AI sector makes it a compelling investment.
Another highlighted altcoin is TokenFi, a platform focused on simplifying the tokenization process. Trading at $0.06 with a $60 million market cap, TokenFi's role in bridging traditional and decentralized finance is key to its growth potential.
Ravencoin, an open-source proof-of-work blockchain enabling utility tokens and NFTs, is also on the list. It has a market price of $0.015 and a $223 million market cap, with its DeFi sector positioning adding to its potential.
The Fluence Project with its token FLT, currently valued at $0.27, is another prospect. As the first decentralized 'Cloudless' computing platform, Fluence aligns with the analyst's bullish outlook on AI.
Realio Network, an end-to-end blockchain platform for digital securities and crypto assets, trades at $0.89 with a modest $5 million market cap. Its focus on RWA tokenization is a notable bullish catalyst for the analyst.
Lastly, Pendle, a protocol for tokenizing and trading future yields, rounds out the list. Currently priced at $2.63 with a $419 million market cap, Pendle's position in the DeFi sector supports the analyst's broader thesis.
