The recent crypto crash was a harsh one for the entire cryptocurrency. Most tokens lost on average more than 50% in valuation. There were many factors that contributed to this crash. However, the current consolidation is proving that cryptos are here to stay. Optimistic crypto investors are considering that most cryptos are being traded with a discount of around 50%! That’s why in this article, we’re going to list the top 3 undervalued crypto that have big potential once the market starts to recover and turn into an uptrend.
#3 Polygon (MATIC)
Polygon is a scalability solution for the Ethereum network. Ethereum was the first blockchain to include smart contracts, making it the clear leader in decentralized apps. Ethereum has struggled to make transactions fast and efficient as the number of smart contracts has expanded. This is how the Polygon network came to be. Polygon is a layer 2 solution that uses a second level and several sidechains to offload the Ethereum blockchain. The “plasma chains” of Polygon are particularly important. The smart contracts are removed from the Ethereum network using these Ethereum sidechains. Developers of decentralized applications and smart contracts may use the Polygon network to outsource their work if necessary. This solves Ethereum’s scaling problems.
After the crypto crash, MATIC lost more than 70% since it reached its all-time high price of $2.85. Today, MATIC is trading at a price of $0.64, which presents a strong support area.
#2 Tron (TRX)
Tron is a blockchain that aims to improve transaction speed. Tron promises to be able to process 2,000 transactions per second, compared to 6 and 25 transactions per second for Bitcoin and Ethereum, respectively (TPS). It’s a decentralized platform for knowledge exchange and entertainment. In 2018, Tron bought BitTorrent, a prominent file-sharing service. Tron’s goals include building an all-in-one file-sharing platform with monetary incentives and allowing content producers (especially in the game industry) to monetize their work. They’re also one of the most popular blockchains for decentralized app hosting (DApps).
Despite the heavy crypto crash, TRX price managed to withstand falling prices. This is due to its announcement of its latest algorithmic stablecoin called USDD. This launch helped TRX keep its prices between $0.065 and 0.080. On the other hand, once the market picks back up, TRX should rise high and break its previous all-time high price of $0.125.
#1 Cardano (ADA)
Cardano is a blockchain network with a scientific approach and technological expertise. It was established by Charles Hoskinson, a co-founder of Ethereum, and it is expected to be further developed by scientists. The development team looks at the flaws in existing blockchains using scientific criteria and then builds its own blockchain using evidence-based standards. Cardano is a blockchain that employs the Proof-of-Stake consensus process and is known for its scalability, security, and decentralization. The ADA is Cardano’s network token. The ADA coin may be purchased and staked on the Cardano network.
Following the recent crypto crash, ADA prices became very undervalued in regards to the worth of the underlying technology. Prices went from a high of $2.9 all the way to a current price of $0.52. Once the market recovers, ADA should recoup its losses at least 50% of the way down.
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