The market has seen some ups and downs over the last week. Although interest in BTC ETFs is waning, the crypto market is currently in a consolidation phase. All eyes are on the BTC halving scheduled for April 2024. Analyst Nicolas Merten highlighted three altcoins that have the potential to deliver big gains and become profitable this year.
Stacks is focused on Bitcoin infrastructure and addresses the untapped market for Bitcoin-related applications beyond its use as a store of value.
The stack acts as a layer 2 protocol on top of the Bitcoin network, enabling the creation of smart contracts and various decentralized finance (DeFi) applications.
Merten sees great potential in the stack due to Bitcoin’s advantages and the need for more utility beyond just holding it. This coin shows strength in both fundamentals and price action, with significant growth potential over the long term.
Render Network (RNDR):
Crypto Render Network addresses the lack of GPU resources by allowing users to outsource GPU power for computational tasks. This is particularly relevant in the field of generative AI, where large amounts of GPU power are required.
Merten believes Render Network, with its unique utility, could double or even triple in value in the coming months. The company’s market capitalization is currently at a reasonable level, making it a promising mid-cap stock.
Angel Block (THOL):
Angel Block focuses on solving problems related to funding in the cryptocurrency space. By introducing a transparent and decentralized governance system, we aim to prevent fraud, fraud and inefficient use of funds. Angel Block projects must reach milestones to access funding.
Although Angel Block is still in its early stages, Merten believes it has the potential to prevent billions of dollars from being lost due to failed crypto projects. The platform has already started raising funds for interesting projects, and its low market capitalization makes it an attractive but risky opportunity.