A huge number of you reading this article want to learn what altseason is, which altcoins can make you rich, or even both. For new crypto beginners, an altseason refers to a market cycle in the cryptocurrency where alternative cryptocurrencies other than Bitcoin experience a sudden price increase, mainly against the US dollar Bitcoin. Discussed below are some of the possible altcoins that can make you profits during the upcoming altseason.
Ethereum is the blockchain network that has been able to rival Bitcoin in terms of utility. The former has various use cases, such as being a platform that aids the development of other applications on top of it. Besides, its smart contract functionality has resulted in the growth of decentralized finance projects built on top of the platform’s blockchain. Notwithstanding, Ethereum also has a native token known as Ether with functions such as facilitating payments within the Ethereum ecosystem. Noteworthy, 2018 was an interesting year for Ethereum because developers started building decentralized finance applications using the platform’s network. To-date Ethereum support and lists over 200 DeFi projects creating more utility for Ether token because the underlying Ethereum native token supports all these DeFi altcoins. The DeFi ecosystem has skyrocketed over the last two years, reaching a total value of$87.58 billion. Among other fundamental activities resulting in Ether being a top altcoin to invest in include the network upgrade to Ethereum 2.0, solving scalability challenges.
This is a decentralized oracle network with the special feature of connecting smart contracts with external data sourced from the real world. The project enjoys massive success with adoption by other blockchain projects, including Polkadot and Tezos. Its native token known as LINK started 2021 with a bull run that saw the price jump from $11 to an all-time high of $36.9. in recent days the price has retracted to an average of$20, which is a good entry point. Numerous innovation opportunities exist on Chainlink, including creating LINK as a commerce or blockchain infrastructure-based altcoin.
Uniswap is among the pioneering decentralized finance projects, focusing on a decentralized cryptocurrency exchange built on Ethereum. The decentralized exchange encourages its users to be liquidity providers (LP) for its trading operations; in return, these users/LP earn some special interest. Uniswap has a native governance token known as UNI, and among the 4000 UNI that was freely distributed in 2020, now trade at $33.46 per UNI with a market capitalization of$17.46 million.