Top 3 Altcoins That Could Bring Major Returns Ahead of Bitcoin Halving
Last week, markets saw some ups and downs. While interest in BTC ETFs is fading, the crypto market is now in a consolidation phase. Attention is turning to the upcoming BTC halving scheduled for April 2024. Analyst Nicholas Merten has highlighted three altcoins that could bring major returns and turn profitable this year.
Stacks (STX):
Stacks focuses on Bitcoin infrastructure, addressing the untapped market for Bitcoin-related applications beyond its use as a store of value.
Stacks acts as a layer-two protocol on top of the Bitcoin network, allowing the creation of smart contracts and various decentralized finance (DeFi) applications.
Merten sees great potential in Stacks due to Bitcoin’s dominance and the need for more utility beyond just holding. The coin has shown strength in both fundamentals and price action, with a possibility of significant growth in the long term.
Render Network (RNDR):
Crypto Render Network addresses the scarcity of GPU resources by allowing users to outsource GPU power for computational tasks. This is particularly relevant in the field of generative AI, where significant GPU power is required.
Merten believes that Render Network, with its unique utility, can potentially double or even triple in value over the next few months. Its market cap is currently at a reasonable level, making it a promising mid-cap play.
Angel Block (THOL):
Angel Block focuses on solving issues related to fundraising in the crypto space. It aims to prevent scams, rug pulls, and ineffective use of funds by implementing a transparent and decentralized governance system. Projects on Angel Block must meet milestones to access funds.
While Angel Block is still in its early stages, Merten sees its potential in preventing the loss of billions of dollars due to failed crypto projects. The platform has already started fundraising for interesting projects, and its low market cap makes it an attractive yet higher-risk opportunity.
