The Ripple cryptocurrency lost its fourth place in terms of capitalization on Coinmarketcap, going down two positions at once twice a day. But this was not due to the drop in XRP prices, but due to the rise in the price of Cardano (ADA) and Polkadot (DOT).
XRP is holding up quite well despite the threat of a lawsuit from the SEC. The coin has even risen a little and is worth over $0.46. But altcoins ADA and DOT are growing much faster. Observers have spoken about the good prospects of these coins many times. ADA and DOT look especially advantageous against the backdrop of the yearn.finance (YFI) hack scandal, which resulted in the loss of $10 million. The hacker attack was successful due to the weak security of the platform storage. It is possible that cybercriminals will be able to exploit this kind of vulnerability again, although the Yearn security service said that it eliminated the cause in 11 minutes and saved $24 million out of $35 million. This information probably did not reassure traders and investors. They chose to invest in more reliable altcoins like Cardano and Polkadot.
Why do investors prefer altcoins? Because several reputable analysts claim we are at the start of the biggest altseason in crypto history. In particular, the well-known analyst Nicholas Merten, founder of DataDash, said in a new stream that “the crypto market is just in the early innings of the bull cycle”. Investors should only make the right choice. Merten himself is not a supporter of investing in leaders but prefers those coins that have not exhausted their potential and show signs of future growth. Among them are Ampleforth (AMPL, 87-88 rate according to Coinmarketcap), Benchmark Protocol (MARK, 462 rate), Uniswap (UNI, 15 rate).
Ampleforth (AMPL) has an insignificant capitalization, according to Merten, and therefore can rise many times over. Technically, this is one of the best DeFi implementations, the coin has already had two waves of rising and soon the third wave will start, the most powerful one. According to the expert, AMPL can grow from 2.5 to 12.5 times.
Benchmark Protocol (MARK) compares favorably with other DeFi with its advanced capabilities of volatility reduction, and this is one of the unsolved problems of cryptocurrencies. Therefore, MARK will also rise, Merten said.
Decentralized exchange Uniswap (UNI) is often mentioned in analysts’ forecasts, it has a fairly high capitalization, but the coin may still grow by 170% – 180%.