This article was brought to you by Crypto PR and is not necessarily representative of the views of the Herald
According to most analysts, the current cryptocurrency market is expected to break out of the narrowest trading range experienced in two years. The market experienced one of its worst periods in more than five years with incidents such as the bankruptcies of Voyager Digital and Celsius Network and the collapse of Terra. Luckily things are starting to look positive and some cryptocurrencies are looking bullish at the moment.
A List of Currently Bullish Cryptocurrencies
- IMPT.io (IMPT)
- Tamadoge (TAMA)
- Cardano(ADA)
- Solana(SOL)
- Polkadot(DOT)
- Polygon(MATIC)
- Algorand(ALGO)
Find all the essential information regarding each of the above-mentioned cryptocurrencies below.
IMPT.io is an upcoming cryptocurrency project that aims to do something about environmental protection. IMPT.io recently concluded a pre-sale, where it raised more than $500,000 for the native IMPT token. This feat, which was completed in a mere 48 hours, represents a huge success for the environment-focused Ethereum-based project. The project plans to establish a fair, transparent, and decentralized market for carbon credits by using blockchain and NFT technology.
IMPT.io makes it easy to be engaged in carbon offsetting. It makes it possible by partnering with some socially responsible brands and with businesses and individuals who intend on reducing their carbon footprint. As a result, anyone can collect carbon credits by purchasing them on the official marketplace or by earning them from shopping activities.
IMPT has partnerships with over 10000 brands which include Apple, Tom Ford, and Microsoft. According to the project’s whitepaper, each of these companies will allocate a percentage of their sales to environmentally impactful projects. Users can acquire tokens through everyday shopping. This serves the dual purpose of incentivizing brands to partner with IMPT and become more sustainable, while also incentivizing shoppers to buy from these companies.
The blockchain is designed in a way that allows the easy selling, buying, and retiring of carbon credits while avoiding fraud and double counting. With the focus now on the environment, IMPT.io looks very bullish at the moment.
Tamadoge is another Ethereum-based project that captured a lot of attention with its recently concluded pre-sale. With the completion of the Ethereum merge, Tamadoge has benefited a lot from it. Tamadoge combines NFTs, a play-to-earn system, and cryptocurrencies to create an ecosystem where users can take NFTs as pets, train them, and fight them amongst one another.
The core of the project is its own metaverse, known as Tamaverse. It is a world fit for exploration while earning TAMA. The ecosystem features Tamadoge pets which are tradable NFTs that can be bought using TAMA. Each of them are minted as a baby and has unique strengths, weaknesses, and statistics. Pet owners can feed and play with them to watch them grow over time. Once it reaches adulthood, the pets can be able to battle with another player’s pets to claim the top position on the Tamadoge leaderboard.
This unique proposition makes Tamadoge one of the best crypto-based play-to-earn projects in existence. Tamadoge recently got listed on OKX which has made it accessible to a larger number of people. There are a total of two billion tokens that are deflationary. As a result, the project intends to burn 5% of the total supply to keep demand and price at satisfactory levels.
3. Cardano (ADA)
Cardano is a proof-of-stake, public blockchain platform which is open-source and decentralized. The project facilitates peer-to-peer transactions. The Cardano token has been in a protracted period of price consolidation after hitting its all-time high in September 2021. Nevertheless, the ADA token has increased more than 10 times since the start of the pandemic.
Cardano implemented its Vasil hard fork to augment the blockchain’s scalability and improve transaction speeds. It strengthens the capabilities of Cardano’s smart contracts which lowers transaction costs for users and greatly improves the experience for developers.
Cardano has also embarked on an effort to expand its user base in the African continent as evidenced by the recent project by Djed and Empowa. Empowa is a RealFi project built on the Cardano blockchain.
4. Solana (SOL)
Solana was designed to improve speed. While critics point out that it has sacrificed a degree of decentralization to achieve scalability, Solana seems to have benefited from this. This is evidenced by the fact that Solana has a theoretical throughput of 65,000 Tps. After investors recognized its potential, SOL experienced a blistering rally throughout the last year.
Solana has also focused on being eco-friendly in recent years. An example of this is its partnership with Watershed Climate and its funds refrigerant destruction model. All of this makes the project carbon neutral.
5. Polkadot(DOT)
In simple terms, Polkadot is a protocol that connects different blockchains which were previously incompatible, allowing value and data to be exchanged. Its native DOT token is used for governance and staking purposes. Poladot has made itself different from other projects as it offers parachains (parallel chains). It is thus a multichain where multiple blockchains run simultaneously which speeds up transaction speeds.
Polkadot’s unique architecture allows it to pivot and serves more unique use cases and needs. Moonbeam became the network’s first fully operational parachain after winning a Polkadot parachain auction in October. It has also captured the attention of Deutsch Telekom, Europe’s largest telecom company. It has already purchased a significant amount of DOT via its subsidiary, T-Systems Multimedia Solutions.
6. Polygon(MATIC)
Polygon, formerly known as the Matic network, aims to scale Ethereum and improve its infrastructure. It implements proof-of-stake consensus. It is a layer two scaling solution that allows up to 65000 tps on each side chain. It is very popular among developers due to its Ethereum Virtual Machine which allows them to build dApps. Aave and SushiSwap are examples of two projects built on Polygon.
Polygon has also been on a hiring spree amid a tumultuous cryptocurrency market. Many think that a string of high-profile partnerships made it possible, such as that with Meta, Adobe, Stripe, Prada, Adidas, Macy’s Dolce & Gabbana, The Draft Kings, and the NFL. With more than 7000 dApps on its network, Polygon has all the signs of looking bullish at the moment.
7. Algorand(ALGO)
Algorand functions as a permissionless blockchain that implements PPoS(pure proof of stake) and runs on a decentralized byzantine agreement protocol. It allows users to validate transactions based on the proportion of tokens held. It was designed for meeting large computational power demands, as well as addressing several other existing challenges such as preventing a 51% attack or any attempts at forking. Algorand is known for its verifiable random functions which leads to faster transaction speed and lower fees.
The ALGO token can be used for all transactions on the network which itself can process thousands of transactions per second with low latency and cost. Since the blockchain it uses is turing complete, it can run any program. This allows developers to easily create smart contracts with minimal effort. The total number of coins in circulation is a little more than 7 billion ALGO tokens.
Conclusion
The cryptocurrency market is slowly recovering after a string of less-than-favorable news. While no one can predict cryptocurrency price movements with 100 percent accuracy, the above cryptocurrencies display some signs that make them appear bullish. Of this list, Both Impt.io and Tamadoge are stand-out performers which are ready to explode in the future, while veterans like Solana and Cardano are still going strong.
Crypto investments are considered risky investments because of the volatility in the market. If you choose to invest, ensure that only a small portion of your investment portfolio is crypto-based.
This article was brought to you by Crypto PR and is not necessarily representative of the views of the Herald