Cryptocurrencies are facing heated regulatory and legal battles in the market, and the Federal Reserve’s recent interest rate hike plans have shaken investor confidence in Bitcoin, ETH, and XRP. Therefore, individuals are seeking lower value assets with less regulatory pressure.
In a recent video update, a renowned crypto analyst from CryptosRUs said: hut We highlight three altcoins with positive prospects in February.
We were excited to find out, so let’s take a closer look!
These altcoins could cause BTC prices to explode
After a month of stagnation, Bitcoin’s value has soared above $46,000 and could reach $50,000, Santiment said. Over $18 billion was poured into Bitcoin funds in a short period of time due to demand from institutional investors. This influx and BTC halving signals tremendous growth for the king of cryptocurrencies. The rise of BTC has opened the door to low-cap assets and layer 1 blockchain assets.
One of the top contenders is STX, which recently surged after Tim Draper publicly supported the coin and announced an impending upgrade. This news led to an astonishing 20% price increase, with STX reaching $1.80 within 24 hours. Tim Draper is optimistic about STX’s potential and predicts it could reach $10. STX will play a key role in enabling the development of decentralized applications and his DeFi products on Bitcoin’s Layer 1 blockchain. The upcoming upgrades are designed to improve efficiency and security, cementing STX’s position as a promising player in the cryptocurrency industry.
Next comes Polygon, gaining attention through partnerships with major brands such as Fox Corporation, DraftKings, NFL, Starbucks, and Nike. As a Layer 2 scaling solution for Ethereum, Polygon addresses scalability issues and accelerates mainstream adoption. Kitty Polygon’s major brands contributed to the price hike. Polygon (MATIC) is trading at $0.8110, but the price recently dropped rapidly to $0.7879, marking a 2.85% decline.
Immutable X (IMX)
IMX launches Sphere, a gaming-focused NFT marketplace, securing partnerships with Polygon, VanEck, and Ubisoft. IMX’s entry into the gaming space through Sphere highlights its strategic positioning. With support from influential companies such as VanEck and Ubisoft, it has proven its potential to capture a significant share of the gaming market and accelerate its growth trajectory.
The recent partnership has proven beneficial in surging prices and gaining investor confidence, with its value rising to a range of $1.89 to $2.31 in a week, an increase of 11.09% in the past week alone. Immutable X’s market cap has also increased over 20% over the past week, from $2.6 billion to just over $3 billion.