Friday, December 9, 2022

Top 3 undervalued cryptocurrencies to watch

Must Read

[ad_1]

These three have the potential for 3 – 5X Gains in the next bull run.

Key Points:

  • Chainlink is growing in adoption, but the price is more than 80% off all-time highs.

  • Sandbox Metaverse is on a growth trajectory, but the price remains depressed.

  • Axie Infinity is trading at massive lows despite a fast-growing P2E gaming ecosystem.

The entire cryptocurrency market is significantly lower than at its peak in late 2021. Almost all cryptocurrencies are down by 70% or more. Under these circumstances, it is easy to assume that all cryptocurrencies are undervalued. 

However, if the 2018 correction and the recent high-profile collapse of the top 100 cryptocurrencies are anything to go by, then not everything is undervalued. Some cryptocurrencies were simply blown out of proportion by the hype in 2021 and may never recover. 

That said, crypto gems exist and look highly attractive to investors at current prices. Below are some of the top most undervalued cryptocurrencies to keep an eye on in the year. 

Chainlink – The king of decentralized oracles

Chainlink LINK/USD is one of the cryptocurrencies that have achieved dominance in a vital market aspect. Chainlink dominates more than half of the decentralized data oracles space. If its growing adoption is anything to go by, then the chances are that none of its competitors will dethrone it, at least in the foreseeable future.

Despite this dominance, Chainlink is trading at record lows. From highs of $50 last year, Chainlink is currently trading between $5 and $7. Adoption is on the rise though, an indicator that LINK’s intrinsic value is on the rise.

Due to this mismatch of value and price, there is a good chance that if bulls retake the market, Chainlink could reward investors with an impressive ROI.

Sandbox – Metaverse crypto with actual adoption

The Metaverse was all the hype towards the end of 2021. However, with the 2022 bear market, the excitement seems to have died down. That doesn’t mean that major developments are not happening in this space. Play-2-earn gaming and other aspects of the Metaverse are on a growth trajectory.

Sandbox SAND/USD has seen exponential growth in the number of games in its ecosystem since 2021. At the same time, Sandbox has recorded growth in other aspects of the Metaverse, such as virtual concerts. 

Despite these developments, SAND tokens are struggling to hold above a dollar, down from highs of $8 in 2021. It shows how massively undervalued SAND is, especially when you factor in analyst predictions of a trillion-dollar Metaverse market by 2030.

Axie Infinity – A fast-growing play-2-earn game

Like Sandbox, Axie Infinity AXS/USD has recorded a significant growth rate since it launched. So much so that it now has one of the most valued NFT collections in the cryptocurrency market. 

Despite the growth in Axie Infinity’s gaming ecosystem, AXS’s price has taken a significant hit in 2022 and is currently trading at under $20. This mismatch between price, and the ever-growing Axie Infinity intrinsic value, indicates potential growth once the market turns bullish again. 

In last week’s crypto rally, Axie Infinity rallied by 50%, indicating that if the market turns bullish again, AXS could be a big winner.

[ad_2]

Source link

Cryptoultimatum Crypto Trading Signal Service

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I show You how To Make Huge Profits In A Short Time With Cryptos!
Trending
- Advertisement -

More Articles Like This