Altcoins
List of Top 4 Undervalued Altcoins Worth Studying
Given the current market conditions, the direction of which is still uncertain, it becomes difficult to identify altcoins with the maximum potential. However, despite this, there are several undervalued projects that are unfairly dragged down by the general market trends. Analysts Buzz About Altcoins gave a list of four pieces that are worth studying. Here is the list:
Exhibit 1: Akash Network
First on his list is Akash Network, which is active in both the decentralized computing (DePIN) and artificial intelligence (AI) sectors. Both are among the hottest in the current price-gouging environment. Akash started as a decentralized computing marketplace, allowing users to rent their excess GPU capacity at a lower cost than major cloud providers.
Additionally, Grayscale has added Akash to its list of high-potential assets for Q3 2024. Despite the overall market downturn, Akash has shown favorable price movements, offering a glimmer of hope amid the overall market decline.
Exhibit 2: Morpheus Labs
Morpheus Labs, which helps Web2 companies transition to Web3 using a low-code platform and AI tools, is also on its list. Morpheus Labs has partnerships with major players like Alibaba Cloud, Huawei Cloud, Amazon Web Services, Tencent Cloud, JP Games, Elrond, and Ant Group. Their ecosystem offers scalable Layer 2 solutions, sharding for parallel processing, and off-chain compute to reduce on-chain loads.
Part 3: Graphlinq
Third on its list is Graphlinq, firmly positioned in the AI space. Graphlinq offers no-code Web3 automation along with its own blockchain and token standard. The protocol is multi-chain and makes it easy to deploy and manage dApps. With 170 million GLQ in total value locked (TVL) on its chain, valued at around $14 million, Graphlinq is active in the DeFi space and is an interesting play.
Room 4: Clearpool
Finally, Clearpool, a player in the real-world asset (RWA) space, operates a decentralized marketplace on Ethereum and Polygon for credit lending. To date, it has facilitated loans totaling $562 million with a TVL of $81 million. The RWA space is expected to become a $6 trillion market by 2030, and BlackRock’s entry into the space is a testament to its potential. Despite a price increase over the past year, Clearpool’s market cap still offers growth potential.