While Bitcoin (BTC-USD) may seem attractive due to its discounted price, the asset and other major cryptocurrencies currently face challenges that may indicate a possible decline in consumer confidence. That said, crypto isn’t expected to go away, so exploring undervalued high-growth cryptos could be a viable option for investment. In fact, they may present a prime opportunity.
For those willing to take high risks, here is a tempting list of high-growth cryptos that could have room for growth.
Solana (SOL-USD)
The recent performance of Solana (SOL-USD) has been mixed, with a slight gain over the week but a recent decline. Its current position is crucial, as it trades below key moving averages, indicating potential bearish sentiment.
However, after the introduction of deBridge, a cross-chain transfer protocol between Solana and Ethereum (ETH-USD)-compatible networks, the price of Solana surged over 12% in 24 hours, reaching $17.97 on the launch date. The announcement significantly boosted SOL, leading to a 13% increase in the past two weeks, although it is still down over 10% in the last 30 days.
Solana is a promising blockchain platform known as an “Ethereum killer.” Despite concerns about stability, Solana’s efforts to address these issues position it for potential growth in the cryptocurrency market by 2025. Its low fees, scalability, and interoperability make it attractive for the decentralized finance (DeFi) sector.
Solana is gaining traction in the nonfungible token (NFT) market and aims to attract more developers as stability improves. With its Solana Mobile venture targeting the mobile crypto market and leveraging retail stores, Solana aims to capture a large user base and benefit from opportunities in retail investment.
Ethereum (ETH-USD)
Ethereum is well-positioned to enter the trillion-dollar club due to its involvement in NFTs, gaming, DeFi, and the metaverse. With its pioneering smart contracts and large developer community, Ethereum holds a competitive advantage. The transition to proof-of-stake and the implementation of The Merge have improved its energy efficiency. Ethereum leads in developer support and NFT sales.
IntoTheBlock reported that Ethereum fees experienced a remarkable 83% surge during Q2, pointing to recent token speculation as the main reason. These fees represent the amount users pay for transactions and smart contracts on the ETH network, reaching a staggering $829 million in May.
Ethereum’s value as the second-largest cryptocurrency is evident in its diverse range of use cases. Sectors such as NFTs, gaming, DeFi, and the metaverse contribute to its growth potential. The NFT market, representing a net sales volume of almost $25 billion in 2021 and even more in 2022, highlights significant growth opportunities. Examining these core sectors is crucial for assessing Ethereum’s position as a leading blockchain platform.
Aptos (APT-USD)
Aptos (APT-USD) is a popular altcoin within the blockchain ecosystem, with a market capitalization of $1.61 billion as of this writing. Ranked at number 33 among thousands of cryptocurrencies, Aptos has achieved impressive standing.
Aptos exhibits a price trend that contrasts with major cryptocurrencies over the long term. While Bitcoin gained nearly 58% in the past year, APT experienced a decline of over 6%. This inverse movement makes APT appealing to investors seeking undervalued but potentially high-growth cryptos.
The token has shown positive performance this year but has encountered resistance at the $10 level since May 1, indicating a possible bearish trend. Despite this, Aptos is worth watching as it focuses on Web3 and utilizes Move — a developer-friendly programming language for smart contracts based on Rust. With its alignment to DeFi and Web3 growth, Aptos is gaining attention from developers in the crypto space.
On the date of publication, Chris MacDonald held a position in ETH and SOL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
