Altcoins with 10,000% potential can benefit from altcoin season

The leader in cryptocurrency capitalization, Bitcoin (BTC USD) has thousands of token alternatives with lower trading volumes and greater growth prospects. These coins have hundreds of times less market dominance, but if used correctly, they can turn an ordinary trader into a multi-millionaire.

Altcoins experienced a decline of approximately 70% compared to Bitcoin between March and May 2024. The market’s prolonged downturn coincided with the poor performance of digital assets, led by ether (ETH-USD). This coin could push up the prices of other altcoins ahead of the possible approval of an ETH spot ETF in the coming days. The Securities and Exchange Commission (SEC) has not yet made a decision. However, news afterwards May 24th could wake the market from its three-month slumber.

Buying altcoins with a potential of 10,000% is a choice for the brave and confident, because such profits can be possible when investing during market corrections. However, the result can meet the highest expectations, as such an investment is similar to buying BTC in early 2020.

Omni Network (OMNI-USD)

The heavyweight of the modern crypto industry, ether (ETH-USD), has its disadvantages. Scaling occurs via isolated runtime environments (rollups), which leads to increasing fragmentation of the ecosystem. The Omni Network (OMNI USD) connects different rollups to ensure that the blockchain structure remains intact and operations remain uninterrupted. Before this innovative solution, developer dispersion resulted in economic losses and the inability to build applications beyond a roll-up. The project seeks to develop in several directions while taking several initiatives. These are EigenLayer, Sushi, Injective Protocol, Arbitrum, Flow, Optimism and Mantle.

The release of OMNI coincided with a correction phase in the market that resulted in an almost sustained price decline two months. After the listing, investors began an active sell-off, which negatively impacted the token. However, this series of events, coupled with the token’s youth, pushed it onto the list of altcoins with 10,000% potential. The drop from $54.24 to $14 created a springboard for the coin, which still has 89.4% of all tokens frozen. Once the general market downturn is over, the impact of the listing will be fully felt on Coinbase, KuCoin, Binance and Crypto.com. Strategic measures, such as the token’s participation in the Genesis staking program, gradually reduce the number of OMNI in circulation, which ultimately leads to a several-fold increase in the coin’s exchange rate.

Core (CORE-USD)

core (CORE USD) is a synonym for innovation, as the standard consensus method was not chosen, but rather Satoshi Plus was used. It combines Proof of Work (PoW) and Delegated Proof of Stake (DPoS) to achieve security for the Bitcoin (BTC USD) and maintain the democratic and scalable character of the system. The project recently developed the Bitcoin-to-EVM HTLC atomic exchange protocol, simplifying interchain exchanges between the core network and Bitcoin.

More than $20 million worth of Bitcoins will be placed on the platform as it provides staking services for this token. However, the connection with the leading cryptocurrency is not the project’s only partnership. The collaboration with Alchemy Pay has brought seamless fiat-to-crypto and crypto-to-fiat transactions to the core ecosystem. Fifty fiat currencies and 300 payment methods make it easier for new users to get started and increase the popularity of the project. The joint work with Full Force has led to the creation of the Community Incubation Launchpad on Core Chain. Launching new blockchain projects has become easier and faster, exactly what crypto startups need in a period of active market growth.

This token can also be considered one of the altcoins with 10,000% potential based on its trading performance. It has been 15 months since it hit the stock exchanges and has already seen jumps from $0.34 to $6.47. The jump to a local high of $3.77 replaced a plateau period from mid-2023 to March 2024. The price then increased fourfold in less than a week. Like most cryptocurrencies, CORE is currently undergoing a correction, but due to its high technology, utility and modernity, it can spike its price at any time.

Fetch.ai (FET-USD)

As the name indicates, Fetch.ai (FET USD) has taken the path of developing artificial intelligence and uses it in the interests of the decentralized digital economy. Since 2017, the project has been building decentralized, openly accessible networks for machine learning and has been able to attract major corporations such as Bosch, Deutsche Telekom and Festo for its developments. Integrating AI into real-world problem solving relies on blockchain to make applications and services more reliable and secure.

Integration with chain link (LINK USD) has opened new horizons for the project and Fetch.ai has gained access to accurate data from thousands of sources. Fetch’s AI agents leverage Chainlink’s oracle network to expand the capabilities of decentralized finance (DeFi), supply chain management, and other areas.

Thanks to the successful merger of blockchain and artificial intelligence, the coin has joined the ranks of other altcoins with a potential of 10,000%, which is reflected in the project’s market performance. Due to its focus on AI, FET showed bullishness earlier than most tokens, recording steady growth as early as February 2024. After the coin hit the ATH ($3.47) in March, it fell $1.8-2.7. Well-known traders and analysts such as: Captain Faibik And @rektcapital predict that FET will rise in May and exceed the previous high price line.

At the time of publication, Julia Magas did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.