Conor Kenny, a cryptocurrency analyst with 125.000 followers on Youtube, said that the top 4 altcoins that are undervalued have the potential for a strong recovery in the near-term.
According to Kenny, the following altcoins are all losing 50% or more in value, so now is the right time to get in.
*Note: this article is based on the author's personal opinion and should not be considered as an investment recommendation*
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The first altcoin mentioned in the list is Solana (S.O.L.).
Solana is an open source project deployed on a brand new, high performance blockchain that banks love to provide DeFi solutions.
The initial idea and planning for the development of Solana ecosystem started in 2017, Solana was officially launched in March 3 by Solana Foundation with headquarters in Geneva, Switzerland.
SOL had a record price of 260 USD in November last year. Solana has so much incredible and untapped potential. There are many games built on Solana blockchain because the above cost is so cheap and the speed is fast. Besides other top blockchains like Ethereum, Solana is definitely one of the best projects worth long-term investment.
Analysts think that the price around 85 USD is very suitable for investors to jump in.
“SOL is having a very good price, don't miss this opportunity,” said Kenny.
Kronos (CRO)
Cronos (CRO) is the second altcoin on Kenny's list.
Cronos is the native token of Cronos Chain – an open source, decentralized blockchain developed by financial services, commerce and payments company Crypto.com
“This is a great project and it continues to grow. TVL is going up every day,” he said.
Therefore, there are many opportunities for Cronos to explode in the near future. At the time of writing, CRO is hovering around 0.4 USD, which is really undervalued.
Cardano (ADA)
Next to mention is Cardano (ADA).
Cardano is a proof-of-stake blockchain platform whose goal is to enable “changers and visionaries” to bring about positive change globally.
“For Cardano, you just have to give these things time to grow and sometimes slow growth is much better and more sustainable than rapid boom. There is a lot of future potential in Cardano.”
Vechain (VET)
The next altcoin on the list is Vechain (VET). VeChain is an enterprise-grade multipurpose layer-1 smart contract platform.
Vechain has been hit hard for the past time because of their links with China and because of the overall market decline. But what the Vechain team is trying to do is still very good, very drastic and very necessary for the market.
Specializing in providing Blockchain-related services to businesses, Vechain is also designed to enhance supply chain management and business processes, so it is a project to watch.
VET is trading at $0.04, which is a good opportunity for traders to buy.
*Note: this article is based on the author's personal opinion and should not be considered as an investment recommendation*
