It’s interesting to look at the largest gainers in the crypto world on a daily basis. Invariably, there are cryptos that have surged by over 1,000% in the last 24 hours. I had recently read a comment that one year in crypto is equal to about 10 years in fiat currency. That seems entirely true when it comes to returns. With hundreds of projects getting listed on a weekly basis, there are cryptos to buy that can change fortunes.
At the same time, there are cryptos that decline by over 90% on a daily basis. The screening process therefore needs to be robust. Additionally, not all cryptos to buy would give returns like Dogecoin (CCC:DOGE-USD) or Shiba Inu (CCC:SHIB-USD). Investors need to have realistic expectations. I would personally be more than happy with a 5x or 10x in few quarters.
This column intends to talk about cryptos to buy that might be flying under the radar. However, these cryptos are non-speculative and can surge higher when there is an altcoin rally.
It’s worth noting that Bitcoin (CCC:BTC-USD) has struggled in the recent past. I see this as a buying opportunity in Bitcoin and altcoins. With increasing crypto adoption, the long-term outlook still remains bullish.
Let’s talk about seven cryptos to buy that might be poised for a big break-out in the next few quarters.
- Bogged Finance (CCC:BOG-USD)
- Cere Network (CCC:CERE-USD)
- Solarmine (CCC:SOLAR-USD)
- Zignaly (CCC:ZIG-USD)
- iMe Lab (CCC:LIME-USD)
- ShopNEXT (CCC:NEXT-USD)
- WazirX (CCC:WRX-USD)
Cryptos to Buy: Bogged Finance (BOG)
Bogged Finance is among the top hidden gem cryptos to buy. The objective of the project is to provide decentralized finance investors with tools that include decentralized exchange (DEX) aggregation, stop loss and trailing stop loss. In general, these features are available only on centralized exchanges.
An important point to note is that Bogged already has two million monthly platform users with $249.5 million in transactions last month. It’s therefore among the actively used trading tools on the Binance Smart Chain.
Further, BogSwap has also extended to Polygon (CCC:MATIC-USD). In the coming days, further cross-chain integration is coming. This is likely to boost trading volumes.
Bogged Finance will also be launching BogFolio. The latter is a detailed app for portfolio tracking, price notifications, among others.
Another reason to like Bogged Finance is the Tokenomics. BOG token has a limited supply of 15 million and a current supply of 14.24 million. Further, 1% of every transaction is burnt and another 3% returned to holders. Therefore, the token supply will diminish over time.
Additionally, BOG token will be required to use premium features in the Bogged Finance platform. With a market capitalization of $16 million, the project looks attractive. I would not be surprised if the project delivers 10x returns.
Cere Network (CERE)
Cere Network is another recently listed project that has still not gained the visibility it deserves.
One of the key objectives of the project is to be a decentralized data cloud provider. Cere compares itself with Snowflake (NYSE:SNOW) that “empowers enterprises with dynamic data services and purposefully structured datasets.” However, unlike Snowflake, this is in a decentralized world.
With growth in non-fungible tokens, Cere has also launched “Freeport.” The latter is an all-in-one suite for NFT backed assets. In simple words, it serves as a digital asset vault for NFTs.
It’s worth noting that Filecoin (CCC:FIL-USD) is also in the decentralized cloud space. However, it’s a full suite of NFT solutions that’s a differentiating factor for Cere project. Furthermore, Cere intends to provide cross-chain blockchain as a service, which gives the project an edge over Filecoin.
Cere also has the potential to scale up significantly considering the backing. One of the investors in the project is Binance Labs. Strategic funding is unlikely to be a challenge.
Cryptos to Buy: Solarmine (SOLAR)
Solarmine is another early-stage project among cryptos that seems interesting. Being at a very early stage, I would not recommend big exposure. However, green Bitcoin mining seems attractive.
In the centralized world, Bitcoin mining companies have witnessed success in the last 12-24 months. Some notable examples include Marathon Digital (NASDAQ:MARA) and Riot Blockchain (NASDAQ:RIOT).
Solarmine intends to bring Bitcoin mining to the decentralized world. However, the company will be using solar energy for mining.
One attractive feature about the project is as follows — Solarmine will retain 75% of the Bitcoin mined for future expansion. The remaining 25% of the mined Bitcoin will be distributed to SOLAR holders. The distribution will be in the form of Binance Coin (CCC:BNB-USD).
With 75% of the Bitcoin mined being utilized to buy more miners, it’s likely that BNB coin awards will increase over time. The concept seems attractive and Solarmine is in the process of buying miners. The project will therefore take few quarters in terms of commencement of mining activities.
I would consider bigger exposure only after mining activity commences. However, the project seems to be authentic based on the Safety Audit results.
ZIG coin had surged from just over 2 cents to 15 cents within one-month. However, with the broad market correction and the AscendEx hack, the coin has corrected sharply. At current levels of 8 cents, ZIG looks like an attractive long-term investment.
An important point to note is that there are thousands of new entrants in the cryptocurrency world. The lure of quick money has attracted investors. However, traders often end-up incurring losses. Zignaly is a platform that intends to serve as a fund manager in the decentralized world.
To make it simpler, Zignaly is a platform where crypto investors let established traders manage trading. In return, traders get a share of the profit. According to Zignaly, the annual return from its top-20 traders is 270%. Therefore, an investor would have earned over 200% returns by simply copy-trading.
Zignaly has witnessed healthy growth. The project currently has 350,000 users. Further, the project has $120 million in assets under management. With increasing numbers of hacks in the space, Zignaly has also ensured that the project is protected by the insurance from exchanges. Additionally, the internal wallet is covered by an insurance of $1 million.
Cryptos to Buy: iMe Lab (LIME)
LIME token is another quality name among cryptos to buy. The token has moved higher by over 100% in the last 12 months. However, considering the use case, there seems to be more upside potential in the coming quarters.
One reason that makes iMe Lab attractive is Telegram customization. The project can implement advance features that lack in Telegram. This includes translator in chats, voice-to-text translation, text from photos extraction, cloud albums, among others.
The project will also be introducing a Telegram catalogue, which is a collection of Telegram channels, groups and chat-bots with a convenient search by categories, countries and languages.
In terms of the upcoming features, iMe will be launching a non-custodial wallet that can be used for storing, buying, swapping and transferring cryptocurrencies. iMe Lab also has plans to enter the NFT space with NFT Marketplace.
All this looks interesting for a project that trades at a market capitalization of $14 million. LIME token is therefore another potential 10x candidate in 2022.
There has been a steady growth in online shipping globally. With this momentum likely to sustain, ShopNEXT looks like an attractive project.
The project aims at wider crypto adoption through a unique strategy. When users shop on any brand using ShopNEXT, the brands will pay a sales commission. ShopNEXT shares a part of the sales commission with users.
It’s worth noting that the project already has Binance Pay and Binance Smart Chain as strategic partners. Additionally, the project has tied-up with Shopiness, which is a cashback and loyalty platform in Vietnam. Through this partnership, the ShopNEXT already has sales and marketing integration with 600 brands regionally.
In the coming quarters, ShopNEXT also plans to reward users for in-store shopping. The higher the number of NEXT tokens owned, the larger is the crypto reward for shopping online and in-store. Therefore, the token has a strong utility.
ShopNEXT plans to launch the mobile app in six Southeast Asian markets. The region has a rapidly growing e-commerce sector. As the project visibility grows and user base expands, there is potential for NEXT to trend higher.
Cryptos to Buy: WazirX (WRX)
In the recent past, there have been uncertainties related to the treatment of cryptocurrencies in India. Initially, it was speculated that the new government bill will ban crypto. However, it seems more probable that cryptocurrencies will be regulated.
WazirX is one of the largest crypto trading platforms in India. After having surged to an all-time high of $5.94 in April 2021, the token has witnessed a sharp correction. Currently, WRX trades at $1.12.
In a scenario of cryptocurrency being banned, WRX token might slide further. However, in a scenario of crypto regulations in India, WRX token is likely to re-test previous highs. Therefore, there is an element of high risk considering regulatory headwinds. That being said, it makes sense to consider some exposure to WRX.
India has among the largest number of crypto users in the world. Even if the asset class is regulated, it would not deter wider adoption. This makes WRX one of the cryptos to buy for the long-term.
On the date of publication, Faisal Humayun did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modelling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.