Pseudonymous crypto analyst Crypto Nova shared their “top 5 upcoming gems” that investors should keep on their radar going into the Bitcoin halving.
What Happened: Nova emphasizes that in a bullish environment, new projects often outperform the market, especially if investors have the opportunity to participate in their public sales or receive rewards like airdrops for being early community members.
The analyst points out five potentially promising projects:
- @FjordFoundry, a well-known fair launch platform for liquidity bootstrapping pools (LBPs). After years of operation under the name “copperlaunch,” Fjord is set to launch its own token this week, with bullish expectations from the crypto community.
- @RWA_Inc_, a project focused on fractional assets on the blockchain. Real-world-assets (RWA) projects have performed well during recent market downturns, and RWA Inc. is rumored to launch its token on multiple centralized exchanges from the start.
- @nyanheroes, one of the most hyped upcoming Web3 games. With the creators of Halo and Destino behind the project, Nyan Heroes is expected to launch a token in the near future, and investors are advised to keep an eye out for any launch announcements.
- @UneWeb3, an IP-centric community layer using AI.
- @Kontosio, a zk-powered omnichain infrastructure, rounds out the list of promising upcoming projects. While no specific launch dates have been announced, it has hinted at a token launch in the near future.
Also Read: Bitcoin, Stablecoins, Tokenization: BlackRock's Crypto Strategy Explained
Crypto Nova believes these projects have the potential to generate significant profits for investors who participate in their IDOs or purchase tokens smartly on the open market. He advises against buying immediately after launch, as prices often dip due to presale profit-takers. Instead, he suggests waiting for the price to find a floor and build support before investing.
Why It Matters: As the crypto market continues to struggle during the Bitcoin halving week, investors may be looking into potentially longer-term plays.
Commentators expect the current frothy market conditions to last for some time, such as prominent analyst Benjamin Cowen, who warned the current dip “could develop into something more.”
With spot Bitcoin ETFs continuing to see net outflows, hunting for “gems” is the name of the game in the cryptocurrency community at the moment.
What’s Next: The appeal of Bitcoin as an institutional asset is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: Bitcoin's Weekend Selloff A ‘Healthy Shakeout,' Not A Market Crash, Expert Says
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
