Top 5 Altcoins That Have Great Potential for the Second Half of 2020
There are many cryptocurrencies on the market, and it can become very difficult to choose one to invest in. As not anyone can afford to invest in Bitcoin because of its price, many are looking towards altcoins that can get profit in the long-term.
Here are some altcoins that can bring promising gains in the latter half of 2020:
Chainlink is a crypto project that has attracted a lot of attention from investors for its fast price evolution.
At the start of the year, Chainlink was priced at $2.09, but just five months later, it had grown by 85% to $3.87. If you take into account the price from back in 2019, that would mean a return of 450%. This July, Link also spiked again to a new high of $8.80. The coin is currently trading at $7,21.
The signals registered from price charts are showing that Chainlink will keep this trajectory in the near-term future.
Chainlink is a blockchain-based oracle network that connects smart contracts with real-world data, thus providing solutions to most projects that do not have this application. Seeing as 2020 will focus more on blockchain use cases, LINK will most probably continue its rally.
Synthetix Network Token (SNX)
The Synthetix Network Token is an Ethereum-based protocol that uses blockchain technology to allow the issuing of crypto assets that are connected to traditional trading assets, thus bridging the gap between the two financial markets.
The network creates Synths, which are ERC20 tokens that follow the price of an external asset, such as gold, bitcoin, fiats, equities, or stocks. This allows users to have asset exposure to a wide range of traditional assets, but without actually having to own the asset.
In early January, SNX traded below $1, at $0.7, but it steadily continued its rally in the past months, starting to sharply increase from June, showing no signs of stopping any time soon. This July, SNX reached a new high of $3.77. The altcoin currently has an ROI of 626,05%.
DxChain Token (DX)
A smaller altcoin that is also looking very promising for 2020 is DxChain Token. DxChain is another project that runs on the Ethereum blockchain, which aims to leverage blockchain technology in order to offer solutions related to data computation, storage, and privacy.
Considering that there have been many privacy concerns regarding online platforms in 2020, DX stands to have potential in the long run.
The altcoin has a very fluctuating price chart, but it is primarily showing a growth pattern. From the start of the year, the coin had risen from $0.0008 to a current price of $0.002664. The current price is very close to the coin’s all-time high of $0,002923, which was reached last year in November. The current ROI of the coin is 252,00%.
Basic Attention Token (BAT)
Basic Attention Token (BAT) is the native coin of the privacy-focused Brave Browser. The Brave Browser saw an uptick in active users in December, which brought the user count to 10.4 million, which signified that the number of users tripled in the span of a year.
The Brave Browser also adopts an innovative marketing and advertising platform that is based on a decentralized system, where publishers and advertisers use the Basic Attention Token (BAT) to monetize their advertising activity.
BAT is currently trading at $0.245337, with an ROI of 55,28%. While the coin has not seen the biggest gains this year compared to the other altcoins on our list, the use cases, partnerships, and development of BAT and its supporting ecosystem show a lot of positive perspectives for 2020.
VeChain is a Singapore-based project that had garnered a lot of investor attention since the start of last year when it launched its mainnet blockchain for VeChain Thor. Since then, the project has accrued an impressive list of high-profile partnerships from various industries. Some of its partners are DNV GL Group, PriceWaterhouseCoopers (PwC), DB Schenker, Kuehne & Nagel, the National Research Consulting Center (NRCC) from China, BMW Group, Anhui Tea Industry Association in China, and Renault.
VeChain Thor blockchain was designed to be applied in diverse sectors and enhance the supply chain management process, and so far, it has established international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.
The altcoin started its upward trend this June and has continued to escalate to the current date. Today, VET is priced at $0.016047, reaching its all-time high recently on July 8th, at $0,021758.
If you are keen on investing in altcoins that have great chances of seeing high gains this year, you can take your pick from the list above.
Featured image: tokens24.com