Altcoins
Top 3 Undervalued Tokens Set to Rise 10X This Year!
The cryptocurrency market has displayed increased price volatility this week, highlighting an increase in buying and selling pressure in the crypto space. Additionally, major tokens have successfully retested their important support levels, indicating potential bullish price action in the times to come.
On the other hand, mid-cap and small-cap altcoins saw the highest gains, indicating growing investor interest in these crypto tokens. Considering investing in undervalued small-cap altcoins for the next bull rally?
Dive into this article as we have covered the top 3 altcoins that are currently trading at massive discounts from their respective ATHs but have strong long-term fundamentals.
Mdex (MDX):
Built on the HECO chain and launched in January 2021, the Mdex project is an automated market making (AMM) exchange protocol. It is decentralized and operates on the concept of pools of funds. It notably uses a dual chain and can also operate on the Ethereum network.
TradingView: MDX/USDT
It is worth noting that MDX price has surged by 129.91% in a day and 132.05% over the past week. This highlights an increased bullish sentiment for the altcoin. Moreover, with a market cap of $75.215 million, it has secured the 410th position.
Technical indicators, SMA and RSI, have registered a strong rise, indicating an increase in buying over selling pressure in the crypto space.
Moreover, Mdex price is currently trading at a discount of over 99% from its previous ATH of $10.06, and with strong fundamentals, this altcoin could see a massive price surge in the times to come.
Renzo (REZ):
Renzo is a Liquid Staking token and strategy manager on EigenLayer and is built on the Ethereum blockchain. By offering higher yield than ETH staking, it is the interface to the EigenLayer ecosystem and secures AVS.
TradingView: REZ/USDT
With a trading price of $0.0658, a circulating supply of 1.15 billion, and a total supply of 10 billion, Renzo Price secured the 409th position with a market capitalization of $76.430 million.
The SMA indicator is displaying a bullish convergence on the 1D time frame, indicating a strong bullish outlook on the cryptocurrency market. The MACD has recorded a steady rise in the green histogram with its averages showing a positive crossover. This indicates a positive outlook for the REZ price.
Horizon (ZEN):
The Horizen project is a zero-knowledge network-based blockchain powered by the industry’s largest node infrastructure. Its interoperability is enabled by the Zendoo protocol. Horizon’s native token, “ZEN,” is a mineable PoW coin and is listed on all major exchanges.
TradingView: ZEN/USDT
ZEN price continues to trade under a bullish price action adding 14.91% to its portfolio over the past day and 23.15% over the past week. Moreover, it has surged 53.62% over the past 30 days and has recorded a year-to-date (YTD) return of 31.52%.
With a trading price of $11.35, a circulating supply of 15,204,481 tokens, and a maximum supply of 21 million tokens, it managed to secure the 237th position in the global cryptocurrency list with a market capitalization of $179.56 million.
If the market continues to move in a bullish mood, Horizen price will prepare to head towards its all-time high (ATH) in the coming months. However, bearish price action could pull ZEN coin price towards its low of $7.85.