• The cryptocurrency market crashed in 2021 and investors have been struggling to find promising projects since then.
• Three high-potential projects that could 10X by the end of 2023 are Fight Out, Zcash, and Solana.
• Each project has its own unique characteristics and all of them are expected to bring massive returns for investors this year.
Crypto Market In Downtrend
The cryptocurrency market took a massive hit towards the end of 2021, bringing down some of the biggest and most popular altcoins with it. While a majority of investors speculated a bounceback right after, unfortunately for many, no such thing happened. This caused the cryptocurrency domain as a whole to set course for a long and painful downtrend. Investors had been bleeding money until the end of 2022 which is when most of the top altcoins started showing bullish signs again.
3 Altcoins That Could 10X in 2023
New projects started flooding the market, and the demand for promising cryptocurrencies started increasing. Investors have already begun searching for their ideal investments which could fetch them massive returns in the upcoming weeks. Here is an overview of three exceptional projects that could potentially 10X by the end of 2023 or even before:
Fight Out – Trending Fitness-Oriented Project
Fight Out aims to change this, with its revolutionary technology and unique product. Introduced in the 4th quarter of 2022, Fight Out has managed to quickly create a fanbase, thanks to an existing community of fitness enthusiasts within the crypto space. It is an M2E (Move to Earn) ecosystem that encourages users to focus on their health and achieve fitness goals through monetary incentives. The project aims to do this with the help of cryptos and NFTs, making it one of the first initiatives to integrate blockchain components into the fitness industry. The main product includes an app that lets users access the project from anywhere in the world. It essentially features an NFT avatar that is fully integrated with the metaverse
Zcash – Privacy Focused Cryptocurrency
Zcash is another privacy-focused cryptocurrency that launched back in 2021 as a fork from Bitcoin’s codebase but comes with added privacy features like shielded transactions which use zero-knowledge proofs (zk-SNARKs) protocol developed by Zooko Wilcox-O’Hearn at his company Zerocoin Electric Coin Company (ZECC). Since its launch it has gained quite some traction among crypto investors due its innovative privacy features as well as its potential use cases outside currency payments like tokenization platforms or smart contracts on regulated assets like stocks or bonds
Solana – A High Performance Blockchain Network
Solana is yet another interesting project introduced back in mid 2021 as an Ethereum competitor aiming at providing faster transaction speeds than any other blockchain network currently available while also being energy efficient due to its Proof-of-History consensus algorithm; allowing up to millions transactions per second without requiring mining hardware or incentivizing miners using proof-of-work algorithms such as SHA256 found on Bitcoin’s blockchain network
• Hub71, Abu Dhabi’s technology ecosystem, has launched a new initiative called Hub71+ Digital Assets.
• The $2 billion fund will provide Web3 and blockchain startups in the region with access to programs and potential partners.
• This initiative aims to accelerate the growth of the Web3 industry in the Middle East and promote startup growth globally.
Abu Dhabi’s Hub71 Launches Initiative to Fund Web3 Startups
Hub71, Abu Dhabi’s tech ecosystem, has launched a new initiative called Hub71+ Digital Assets. The initiative is aimed at accelerating the growth of the Web3 and blockchain technology industry in the region by providing start-ups access to programs and potential partners. The fund of over $2 billion will be used to finance startups and support businesses relocating to Abu Dhabi.
Partnerships With Corporate & Government Bodies
The Hub71+ Digital Assets ecosystem includes several corporate, government, and investment partners that will help startups succeed in the industry. The anchor partner for this initiative is FABRIC – the research and development hub of First Abu Dhabi Bank. Additionally, other partners such as crypto exchanges and service providers are also involved in order to make it easier for businesses to discover, trade, and manage digital assets.
Impact on Growth & Development of Web3 Industry
With its private and government partnerships, this initiative has the potential to significantly impact the growth and development of Web3 and blockchain technology industries both locally in Abu Dhabi as well as globally. By providing resources such as funding opportunities plus access to potential partners like FABRIC or cryptocurrency exchanges/service providers, start-ups have an increased chance of succeeding in their endeavors within this space.
Fight Out (FGHT) – Newest Move For Project Rating Certification
In addition to this new web3 funding opportunity from Hub 71+, Fight Out (FGHT) – among other projects – is taking additional steps towards project rating certification by partnering with CertiK for auditing services as well as CoinSniper for KYC verification services during its early stage presale period which is currently live now .
Overall, through initiatives such as Hub 71+ Digital Assets , Abu Dhabi not only aims to provide these startups with necessary resources but also encourages others across its region—and beyond—to join similar efforts or create their own initiatives that could potentially revolutionize how businesses operate within our ever-evolving digital world!
• Render Network token (RNDR) has surged over 44% in the past month following a decision by the render network DAO to approve a new tokenomics framework.
• Despite this, RNDR price has dropped 5.7% over the past 24 hours to trade just below $2.0 according to CoinMarketCap data.
• The new burned-and-mint equilibrium (BME) model is aimed at making RNDR a commodity as well as a deflationary asset.
Render Token Price Prediction
The Render Network token (RNDR) has seen significant growth of 44% in the past month due to the approval of a new tokenomics framework by the Render Network DAO. However, despite this surge, CoinMarketCap data shows that RNDR price has dropped 5.7% over the past 24 hours and is currently trading just below $2.0.
A New Tokenomics Model Fuels The Render Token Price
The recent surge of 22% between February 5 and 7 was triggered by the vote of unanimous approval on January 31 for the burnt-and-mint equilibrium (BME) model proposed on GitHub which aims to cap net emissions and allow artists to burn required amounts of RNDR tokens in exchange for non-fungible work credits, which are then distributed to node operators. According to Coinglass crypto data provider, RPND’s funding rates remain positive on most crypto trading platforms, indicating bullish sentiments amongst traders.
Render Token Price Analysis
At press time, RNDR price is fighting immediate resistance from the middle boundary of an ascending parallel chart pattern at $2.20 and if it succeeds in closing above this level it would signal increased buying power and could potentially lead to a 24% increase with its bullish target being $2.43 – embraced by the upper boundary of the rising channel .
The adoption of BME model is expected to make RNRD both a commodity and a deflationary asset which could see its value rise significantly should buyers be able to close above immediate resistance levels at $ 2 .20 . If successful , 24 % increase could be seen with its bullish target being set at $ 2 . 43 .
• Fantom (FTM) price prediction is at $0.53 as the Relative Strength Index (14) stays within the overbought region
• The resistance levels for FTM/USD are $0.70, $0.75 and $0.80 and the support levels are $0.35, $0.30 and $ 0.25
• If the buyers keep the Fantom price above the 9-day and 21-day moving averages, FTM/USD may cross above the channel to hit the resistance levels of $0.70, $0.75, and $0.80 respectively
Fantom Price Prediction for Today
The Fantom price prediction is at $0.53 as the technical indicator Relative Strength Index (14) stays within the overbought region. Fantom has a market cap of 1.4 million USD with a circulating supply of 2.7 billion FTM and total supply of 3 billion FTM ranking it #40 on Coinmarketcap .
FTM/USD Market Key Levels
The potential resistance level for FTM/USD is set at 0.55 while the potential supports are located at 0.35, 0..30, and 025 respectively . On its daily chart , if buyers manage to keep Fantom’s price above 9-days and 21 days moving average , then FTM/USD may go past its current level towards potential resistances at 0,.70,, 075, and 080 . If this fails to hold strong then we may see a bearish movement below its current support level of 45 .
Is Fantom Ready For The Upside?
Looking at technical indicators such as RSI (14), if it moves above 70-level , then there might be chances that Fantometry follows an upward trend . When compared with Bitcoin , in order for it break above 2600 SATs ,the coin must remain above 2000 SATs or else we might witness a bearish movement .
In conclusion , if buyers can maintain their momentum by keeping fantoms’s prices above 9-day and 21 day moving averages then there may be some bullish movement towards potential resistances of 70 , 75 ,and 80 respectively in terms of USD trading pairs but if this fails to hold strong then there might be some bearish movements below 45 USD per token which could refresh lows under 2000 Sats when trading against Bitcoin .