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By Sujit Kumar Pathak
Crypto markets have slowed down in the past month due to several factors, like SpaceX’s Bitcoin offloading and SEC’s delay on Bitcoin ETFs. However, the markets have held steadfast above $1 trillion.
Such conditions offer retail investors a good opportunity to diversify their portfolios. While blue-chip cryptos offer stability, it's the undervalued gems that drive significant growth.
Let's look into five such cryptocurrencies that, upon careful research, seem to be headed for promising futures and can bring much-needed relief to your crypto portfolio in the long run.
A Smart Strategy for Diversified Allocation.
Just buying cryptocurrencies at random doesn’t spell strategy.
For a conservative portfolio, consider allocating 15%-20% of your net worth to cryptocurrencies with a good growth potential like the ones below. Moderates can allocate about 25%-30%. If you're more adventurous, a 30%-45% allocation might suit.
Diversified portfolio allocation will help you in two major ways. First, it would bring much-needed “greenness” to your portfolio by adjusting your losses in one crypto with gains in another. Second, it will expose you to new ideas and emerging trends which will enable you to identify quality projects all by yourself.
Shiba Inu’s SHIB
Shiba Inu, initially launched as a meme coin, is one of the most successful crypto projects in the world. However, its lack of utility meant its popularity was slowly fading away.
Shiba Inu has brought much-needed utility to its cryptocurrency SHIB with the launch of Shibarium Blockchain, which will be an Ethereum Scaling solution (L2 Blockchain). Further, Shibarium will also support NFTs based on information shared by its lead developer Shytoshi Kusama. Shibarium is part of a broader plan to position Shiba Inu as a serious blockchain project.
With one of the largest and most vibrant communities in the crypto space on X.com and Reddit, and a current price of $0.0000074, it's a compelling option.
Agoric’s BLD
Agoric, the platform behind BLD, isn't a newcomer—it's a trustworthy brand known for its consistency. It's a Proof-of-Stake chain utilizing Hardened JavaScript smart contracts to rapidly build and deploy DeFi, built using Cosmos SDK. Agoric's reputation is built on trust and experience, and their native token, the BLD token is a reflection of this legacy. Agoric's team brings in-depth knowledge, ensuring BLD has a strategic edge. With a range of offerings and solid partnerships, its potential is constantly expanding.
What makes it especially appealing to informed investors is its undervalued nature—a potential gold mine for growth. The foundation of BLD is built on careful analysis and planning, making it appealing to investors who prioritize due diligence. Its multifunctional role in the crypto ecosystem, spanning governance to transactions, adds a unique edge, setting it apart.
The current price is $0.11. In essence, BLD combines Agoric's seasoned experience with the promise of future growth, offering a balanced choice for those looking to diversify their crypto portfolio.
Tron’s TRX
Inspired by the strides in decentralized internet, Tron's native token, TRX, is an undervalued powerhouse. Challenging Ethereum directly, it offers high scalability and a robust platform for decentralized apps.
But it's the unique democratic ethos of Tron that sets it apart: token holders, based on their TRX stake, select representatives, influencing the platform's trajectory. This approach has enabled Tron to achieve staggering speeds, processing over 2000 transactions every second, numbers that rival the operational efficiencies of Bitcoin and Ethereum. It's worth noting that on Sept 03, 2023, Tron clocked 6.3 million transactions, overshadowing Ethereum's 1.7 million and Bitcoin's 740k. It is an undervalued crypto that puts utility at the center of its success.
A testament to its prowess, Tron is the preferred blockchain for USDT transactions. Despite these accomplishments, TRX, priced at a humble $0.08, remains undervalued, beckoning savvy investors to recognize its blend of innovation, utility, and affordability.
Hedera’s HBAR
HBAR is the native cryptocurrency of Hedera, a platform that is an alternative to typical blockchain-based transactions. Hedera's HBAR stands out due to its Direct Acyclic Graph mechanism, a novel transaction settlement mechanism ensuring smooth transactions regardless of volume. This energy-efficient crypto not only supports decentralized applications but also guards the network against harmful intentions. Every transaction made pays the network nodes for their bandwidth, computing, and storage efforts.
But it's not just the tech that makes HBAR a standout. Its strategic growth is evident with platforms built on Hedera. For instance, Dropp, a Hedera-based micropayment platform, caught the attention of the US Federal Reserve, earning a mention in the FedNow document.
Beyond this, Hedera has formed business partnerships with global automotive giants Hyundai and Kia. Both companies are tapping into Hedera's monitoring systems to track carbon emissions.
Despite these milestones, HBAR's price remains a modest $0.05, hinting at its undervalued status in turbulent crypto waters. Investors eyeing the future of crypto might want to take a closer look at HBAR—its rapid growth and industry endorsements make it a promising asset in the ever-evolving crypto landscape.
IoTeX’s IOTX
IoTeX is the cornerstone of a unique blockchain solution dedicated to the Internet of Things (IoT) universe. Their unique products, Ucam and Pebble, seamlessly marry real-world devices with blockchain technology, ensuring secure data storage. In doing so, IoTeX looks to challenge industry titans like Google, offering a decentralized alternative for user-generated data.
The platform's capabilities are clear, handling a staggering 35 million IoT transactions with 99% reliability, as reported by Google Cloud. This decentralized approach to IoT is rapidly gaining traction, especially as more people question the intentions of big tech conglomerates. With its recent Coinbase listing and innovative upgrades like the Pebble Tracker, IoTeX presents itself as a promising contender in the crypto space.
However, what truly captures the attention is its price point. Hovering at just about $0.015, IOTX seems like a hidden treasure in the vast sea of crypto.
With its innovative approach to IoT and its current valuation, forward-thinking investors might want to give IoTeX a closer look. Its potential to reshape how we perceive IoT, combined with its current valuation, indicates a bright horizon for this digital asset.
In summary
Diversification is essential for managing the inherent risks of the crypto market. But the key is smart diversification—into assets with evident growth potential, not just random selections. A strategic and well-researched investment is invariably more rewarding than herd-driven decisions. Cryptocurrencies can be volatile, and investments carry risks. Always conduct your own research and consult with a financial advisor before making any investment decisions
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.