Investing in Bitcoin (BTC) has always been the safest bet for newbie traders and even for some experienced ones. However, with BTC trading more than 15% lower than its recently achieved all-time high and a series of several sharp drops over the past fortnight, it’s hard to tell if and when it’ll reach new peaks.
Bitcoin’s rally slowed down in mid-March, and the current sentiment is more bearish than bullish. Investors are shifting their focus to budding BTC alternatives not only to withstand potential market volatility but also to stay with the profit.
Despite the overall unpredictability of the crypto market and regardless of what happens with Bitcoin after the halving event in April, there is still significant potential in these five low-cap coins that we've reviewed just for you.
Choise.com (CHO)
CHO, the native token of Choise.com, has achieved a 789.5% growth in price in just over two months, capturing the attention of the crypto community. This massive surge is supported by several factors. Firstly, Choise.com is about to transition to the B2B sector and merge with Vault, a company delivering enterprise-level digital crypto banking solutions developed by the same team, to form a full-scale Web3 development ecosystem, Choise.ai.
Yet, nothing drives the price of a token further than when there's something in it for the community. The team also announced that Choise.ai would share up to 20% of Vault's revenue with CHO stakers via the newly introduced VLT token. Notably, Vault has scored significant results in its first year of operation, closing nearly $20 million in revenue and eyeing the $180 million milestone to be hit by 2025. Initially, VLT will be available to the Choise.ai community only and will not be tradable on exchanges, which once again proves the company’s commitment to rewarding those who have been with them along the way.
Finally, in a recent landmark development, Choise.ai hinted at an upcoming listing of CHO on a soon-to-be-disclosed centralized exchange (CEX). And just today, BingX, one of the top 20 largest and most reputable CEXs with daily trading volume inching $1 billion, confirmed a partnership that will make the token available to its 10 million users.
This move is likely to make it more accessible and enhance its recognition among traders, while simultaneously increasing its liquidity.
Although many other developments are underway for Choise.ai, Vault, and Choise.com, it might be worth noting that users of Choise.com will soon have the option to order crypto-powered virtual Mastercard debit cards through the platform. All these efforts, combined with the anticipated arrival of CHO at one of the biggest CEXs in the market, are likely to continue to positively influence the price of the token.
Dynex (DNX)
Dynex is a platform that harnesses a new DePIN technology that further involves miners conducting PoUW (Proof-of-Useful-Work) and quantum computing. Through their DynexSolve program, Dynex achieves the utilization of quantum computing to solve real-life (healthcare, architecture, science and other) problems.
The native coin of Dynex is DNX, which can be bought from several crypto exchanges or mined. The coin's bullish momentum and the rally have been fueled by the recent launch of DNX mining. However, with no other major announcements forthcoming at the moment, DNX may begin to consolidate.
Komodo (KMD)
Komodo offers a versatile 3-in-1 platform, combining a decentralized exchange (DEX), non-custodial wallet, and crypto bridge. Last year, its flagship application transitioned from AtomicDEX to Komodo Wallet, consolidating all three products into one accessible platform for developers launching DeFi applications. The team shared their 2024 roadmap, outlining plans for each quarter of the year, and has already fulfilled most of the promises for Q1, including trading protocol upgrades and the Komodo Wallet browser extension, with progress underway on NFT Swaps PoC and HD wallet support.
The fulfillment of these promises is precisely what's propelling the price of KMD, as crypto communities highly value developers who deliver on their commitments. The upcoming roadmap includes interoperability enhancements, KMD burn, wallet UI/UX rework, and more. However, since some Q1 2024 objectives still remain unfulfilled, excitement may wane if the same trend continues into Q2.
Taraxa (TARA)
Taraxa is an ecosystem with AI capabilities and an EVM Layer1 smart contract platform, among other features. It's known for being fast, cost-efficient, eco-friendly, and secure and uses an anchor chain called blockDAG and an asynchronous PBFT to ensure all of this. Taraxa also boasts TK TPS, which means zero network congestion and, of course, low-cost transactions.
TARA is a cryptocurrency that powers the entire system, offering a 17.6% staking yield, with 54% of the tokens currently staked. Additionally, network validators have earned 9.2 million TARA tokens so far. Taraxa nodes are easy to run, with 74 nodes currently participating in the consensus on the mainnet. Just the other day, a $TARA airdrop via DappRadar was taking place, and the community was buzzing with excitement. However, caution is advised, as once the airdrop concludes, there's a chance that those profiting from the price growth may decide to sell their tokens.
Cream Finance (CREAM)
Here comes another DeFi product: C.R.E.A.M. Finance, a lending protocol that provides access to financial services for institutional and individual clients, as well as to other protocols. However, it doesn't just offer lending; it also allows users to earn yield on their passive BTC and ETH, making it similar to a traditional savings account.
At the beginning of April, CREAM Finance was exploited for $130M in DeFi's third-largest hack, marking one of the largest DeFi breaches in history. This incident caused a slight drop in the token's price, although, surprisingly, not a significant one. $CREAM has been steadily rising in value over the past couple of months and shows further growth potential, although some may consider its current price of $47 to be already overpriced.
Summary
Low-cap tokens such as DNX, KMD, TARA, and CREAM can offer the potential for great returns, but each comes with the danger of losses. That's why it's crucial to carefully evaluate the risks associated with the coins that we've mentioned throughout the text. However, CHO stands out as a good example of sustained growth fueled by continuous developments and behind-the-scenes efforts and it is possible that it could see a substantial price increase in the medium term.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
