Top 12 Breakout Altcoins to Keep an Eye on this Summer

The crypto market has suffered heavy losses over the last eight months, which is why many believe that a breakout might be in sight, given that most coins and tokens are currently heavily undervalued. With that in mind, we decided to take a sweep of the altcoin market and try to identify cryptocurrencies that might be among the first to see a breakout once the market allows it.

While there is no saying when that might be, or whether it will happen for these specific cryptos, many believe that the summer of 2022 might turn things around. If it happens, these are the coins that we are the most optimistic about.

1. Helium

To start off, we have Helium — a decentralized network for the Internet of Things devices that uses its mainnet to enable low-powered wireless devices to connect and communicate with one another. This has great implications for sensors and similar IoT devices, which can be used to significantly improve taking various measures and improving different services, living conditions, and alike.

The reason we believe that Helium deserves to be in the first spot is the fact that it just announced integration with Streamr, another project which also handles similar types of data, which makes the two very compatible with one another.

To learn more visit our Investing in Helium guide.

2. Streamr

In the light of the Helium x Streamr integration, putting Streamr right after Helium should not come as a surprise. This is an open-source project and decentralized platform that uses cryptography in order to avoid having to rely on trust. It functions as a P2P, real-time data infrastructure that features a platform and tools for a new data economy.

Its tech stack includes a highly-scalable real-time messaging network that is hosted on computers around the world, a set of tools for working with data in real-time, and even a marketplace for trading and selling data.

To learn more visit our Investing in Streamr guide.

3. Songbird

In the third spot, we have Songbird — a canary network for another project called Flare. The two feature the same technology and are built for universal connectivity. They enable better bridging, cross-chain composability, seamless decentralized integration with Web2 data, and more.

But, as it often happens, a canary network can take a life of its own with new projects deciding to stick around, rather than move to a different network once they reach maturity, which makes Songbird a legitimate investment opportunity.

To learn more visit our Investing in Songbird guide.

4. STEPN

Next up, we have STEPN, which is a project that aims to combine health and finance in a unique way. The project uses NFTs in the shape of digital sneakers, and by purchasing these sneakers and then walking or running with your phone in your pocket, you get to earn the project’s native GMT token.

STEPN calls itself a Web3 lifestyle app, featuring GameFi elements, and it combines P2E aspects with a fitness app in a unique new way. While there were attempts to make walking a source of crypto in the past, no other project has done it in such an advanced, practical, and extremely functional way as STEPN.

To learn more visit our Investing in STEPN guide.

5. Cardano

In the fifth spot, we have Cardano, which is already among the largest cryptocurrencies in the market. However, we believe that Cardano is extremely undervalued, given the fact that it launched smart contracts right before the bear market hit in late 2021. As a result, its price never got to see the increase which it is due, considering all the new use cases that the project has.

Furthermore, Cardano is continuing its development, with only two out of its five development phases currently being completed. As a result, Cardano is an excellent long-term investment, and as soon as the bears withdraw, we expect to see its price skyrocket to previously unexplored heights.

To learn more visit our Investing in Cardano guide.

6. Celer Network

Halfway down the list, we have Celer Network — a blockchain interoperability protocol that aims to make it possible for users to access tokens, DeFi, GameFi, NFTs, governance, and more, across multiple chains and with a single click. This is one of the most forward-looking projects when it comes to Web3 development, which is why we believe that it has great potential in the long term, as well.

Celer was founded in 2018 by a strong team of engineers with extremely technical and specialized knowledge and experience, and all of its four co-founders hold PhDs in Computer Science from highly reputable universities.

To learn more visit our Investing in Celer Network guide.

7. Band Protocol

The seventh project on our list is Band Protocol — a project that offers a decentralized oracle network that harnesses information from off-chain sources and delivers it to the blockchain, smart contracts, dApps, and alike.

While Band Protocol is not the first project of this kind — that honor goes to Chainlink — it has an advantage as it runs on Cosmos’ blockchain, which is much faster and more scalable than Ethereum, which runs Chainlink. However, many say that the two are not competitors, as the crypto industry is certainly large enough for both to be employed simultaneously, and stay busy at all times.

To learn more visit our Investing in Band Protocol guide.

8. Balancer

Next, we have Balancer, which is an automated market maker (AMM) that runs on Ethereum’s chain. The platform was launched over two years ago, in March 2020, and it works as a self-balancing weighted portfolio, liquidity provider, and price sensor.

Essentially, the project allows users to earn profits using its native token BAL, by contributing funds to customizable liquidity pools. There are several types of pools, including private pools, shared pools, and smart pools.

To learn more visit our Investing in Balancer guide.

9. Star Atlas

In the ninth spot, we have Star Atlas — a metaverse project that offers a massively multiplayer online game that was built using Unreal Engine 5. The game takes place in a futuristic SciFi setting, in the year 2620. At this point, humanity is facing off against two other factions — sentient androids and a consortium of alien races.

The game is a mix of genres, such as flight simulation, exploration, RPG, and more, and the goal is to seek out resources in the universe and harness them before the other factions in order to improve and enrich your own faction. It is a very interesting game with a lot of hype surrounding it, so we feel optimistic about its future.

To learn more visit our Investing in Star Atlas guide.

10. Telcoin

The tenth on our list is Telcoin, which is a native medium of exchange, reserve asset, and protocol token of the user-owned decentralized financial platform of the same name. Its token, TEL, allows users to access and power a global suite of user-owned decentralized financial products.

Furthermore, it incentivizes coordinated market participation and encourages providing specific value-added services to end-users, thus aligning the incentives of the Telcoin ecosystem towards providing all of the world’s phone users with access to fast, affordable, user-owned financial products.

To learn more visit our Investing in Telcoin guide.

11. Loom Network

Nearing the end of our list, we have Loom Network. This is a popular platform-as-a-Service that runs on Ethereum’s blockchain. The project is meant to provide developers with the ability to run large-scale dApps and create smart contracts that can access massive amounts of computing power when it is needed, or maintain the same power at lower costs for tasks like trials for onboarding new users, or apps that do not require the full security of blockchain to run.

Under these circumstances, users would have the ability to reach third party-developed APIs that do not run on-chain. On top of all that, Loom also wishes to be the ultimate platform for running smart contracts that don’t require switching between different programming languages.

To learn more visit our Investing in Loom Network guide.

12. Solana

Lastly, we have Solana — another well-known, major project that we feel is deeply undervalued. As many may already know, Solana was developed as a project that would solve one of the largest and most persistent issues of older blockchains, which is the lack of scalability. In doing so, it managed to become the most scalable blockchain that currently exists, capable of running hundreds of thousands of transactions per second.

According to its team, the network only starts struggling when the TPS count reaches 400,000 TPS. Meanwhile, it is perfectly comfortable with processing 100,000 TPS. In comparison, Visa processes around 1,700 TPS, making Solana nothing short of a technological wonder. The project became one of the most popular Ethereum alternatives, as many have started leaving Ethereum’s network because of its lack of scalability, high gas prices, and long waiting periods. Meanwhile, Solana doesn’t suffer from any of these issues, which is why it ranks as high as it does, as one of the projects that have the most potential to become the so-called “Ethereum killer.”

To learn more visit our Investing in Solana guide.

Conclusion

The crypto market has seen plenty of losses since reaching its peak on November 11th, 2021. If you are among those who believe that a period of growth might be in sight, then the altcoins listed above are some of those we believe could see a major breakout. With that said, we recommend checking them out and keeping a close eye on them, and if you happen to agree with us after conducting your own research and analysis, then investing in them now, while they are at the bottom, might be a profitable thing to do in the long term.

This news is republished from another source. You can check the original article here

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