Altcoins
Crypto Analyst Reveals Top 10 BTCfi Altcoins After Halving
As the community prepares for the much-anticipated fourth half Scheduled for April 19, 2024, the buzz around Bitcoin-based projects is reaching fever pitch. Crypto influencer Leshka.eth, with over 128,500 followers on X (formerly Twitter), has identified a set of altcoins in the Bitcoin (BTCfi) financial ecosystem that could see significant gains following a halving.
Crypto Analyst Shares His Top 10 BTCfi Altcoins
Leshka.eth said its 128,500 subscribers on X (formerly Twitter) on the potential of various projects in the BTCfi landscape. He noted: “The countdown to halving BTC ends in 2 days. If you missed 1000x on BRC20 and Ordinals, if you missed 800x on STAMP, check out my watchlist of BTCfi altcoins poised to rise due to halving.
Here is a list of top altcoins, according to Leshka.eth, that could benefit from the upcoming Bitcoin halving:
1. Hulvin (HULVIN): This project is billed as the first halving-themed memecoin with the slogan “Make Halving Great Again.” Originally mentioned by Leshka.eth when it was valued at a market cap of $9 million, Hulvin has enjoyed an impressive rise, crossing a market cap of $30 million.
“I first mentioned it when the market cap was $9 million. Today, it has surpassed $30 million MC and is outperforming all other tokens on the market. There is still plenty of room for price discovery,” Leshka.eth emphasized. The coin is currently trading at $0.01298 with a daily volume of $5.8 million.
2. Mapping Protocol (MAP): Designed to simplify cross-blockchain transactions using lightweight clients and zero-knowledge (ZK) proofs, the MAP protocol works without the need for trusted third parties. It facilitates secure peer-to-peer connections and emphasizes compatibility between different blockchains. Currently, MAP is trading at $0.0248 with a market cap of $107 million and a 24-hour trading volume of $3.2 million. Leshka.eth considers it a crucial infrastructure component for the evolving blockchain ecosystem.
3. Batteries (STX): As a layer built on top of the Bitcoin blockchain, Battery introduces features such as smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). It is often compared to Lightning Network due to its expansion of Bitcoin’s capabilities.
With a substantial market cap of $4.04 billion and a price of $2.29, Stacks represents a significant part of the BTCfi landscape. “Stacks transforms Bitcoin from digital gold into a broader ecosystem capable of supporting a wide range of applications,” noted Leshka.eth.
4. Mint Layer (ML): This layer 2 solution enhances the functionality of Bitcoin by enabling DeFi, smart contracts, atomic swaps, NFTs and dApps directly on the Bitcoin network. Trading at $0.38 with a market cap of $24 million and daily volume of $2.5 million, Mintlayer stands out for its integrative approach to expanding the utility of Bitcoin without the need for a blockchain entirely distinct.
5. SatoshiSync (SSNC): Collaboration with LayerZero and Chain link, SatoshiSync offers a toolkit to facilitate transactions on the L1 and L2 layers of Bitcoin. Even before its symbolic launch, the platform had attracted more than 50,000 users, highlighting its practical value. SSNC is priced at $0.1275, with a market cap of $124.7 million and modest daily transactions amounting to $0.45 million.
6. Bitcoin Virtual Machine (BVM): BVM is a rapidly growing Layer 2 solution for Bitcoin that allows users to create their own L2 networks, thereby improving the value of BVM tokens. The BVM team also plans to introduce airdrops for BVM stakeholders, which Leshka.eth reports could “significantly increase demand for tokens.” BVM is currently trading at $5.35, with a market cap of $133.6 million and 24-hour volume of $2.74 million.
7. Naka Channel (NAKA): Positioned as a cost-effective, high-throughput Bitcoin L2 blockchain designed for DeFi applications that use Bitcoin for gas fees, Naka Chain allows developers to port decentralized applications from Ethereum to Bitcoin with minimal changes. It works in the same way as the Ethereum Virtual Machine (EVM), reinforcing its appeal. NAKA is trading at $0.026, with a market cap of $56.32 million and daily volume of $128,000.
8. Elastos (ELA): Elastos aims to build a blockchain-based version of the Internet, solving the scalability and flexibility issues found in Ethereum and other DApp platforms. With a market cap of $81 million and a share price of $3.69, ELA is focused on building a robust infrastructure for a decentralized internet.
9. MVC (SPACE): This public blockchain integrates several technologies, including the UTXO model and Proof of work (PoW), to offer exceptional performance, low fees and high decentralization. SPACE is trading at $17.59 with a market cap of $52.3 million and 24-hour volume of $1.31 million.
10. Photons: Billed as a traditional higher layer 2 solution, Photon leverages Bitcoin’s layer 1 security to support scalable decentralized applications, providing efficiency and flexibility comparable to the Ethereum ecosystem. This project is one to watch, with its upcoming launch expected to attract considerable attention. “Keep an eye out for its upcoming launch!” “, said Leshka.eth.
11. Additional mention – BounceBit: BounceBit is a Bitcoin staking chain that allows users to earn returns on their dormant Bitcoin. With a focus on early access, the platform encourages active participation and use of Bitcoin for staking purposes. The imminent launch of BounceBit is highly anticipated by the community.
At press time, Stacks (STX) was trading at $2.29, down 40% from its all-time high on April 1.
Featured image created with DALL·E, chart from TradingView.com