Cryptocurrencies went mainstream during the pandemic years. Smart money began pouring into the sector, with several top financial institutions treating it as a serious asset despite its volatility.
Consequently, the sector grew at a staggering pace over the past couple of years, with several altcoins posting mind-boggling returns. 2022 hasn’t been too kind to crypto investors, but they are still looking for new cryptos that could explode in the future .
I think the current downturn has taught us that; it’s wise to invest in cryptos that offer some real-world utility. Digital assets with multiple use-cases are likely to perform the best over time. The industry has grown of age, and moon- shot cryptos are likely to falter in the future.
Nevertheless, the chances of a massive payoff will likely be better with smaller coins that the market may be overlooking. Here are seven new cryptos that could potentially blow up in the not-so-distant future.
DeFi Coin (DEFC)
DeFi Coin (CCC:DEFC) is a new altcoin that powers DeFi Swap, one of the leading decentralized exchanges. DEFC shot up over 300% in value after the launch of DeFi Swap last month.
Its development team has an interesting take on the tokenomics of the project. To encourage crypto holding, they have introduced a 10% transaction tax on short-term trading. The proceeds are transferred to token holders and compensated if there is a bump in price due to higher transaction volumes.
Therefore, it potentially opens up a regular income stream for investors. Hence, innovative new crypto is implementing a novel approach to tackling a common problem for most altcoins.
Lucky Block (LBLOCK)
Lucky Block (CCC:LBLOCK) is a popular decentralized platform for crypto games with play-to-earn rewards using the power of blockchain technology.
It uses the benefits of blockchain protocols to increase transparency in selecting winners for the predominant prize draw games on the platform. The LBLOCK token purchases lottery tickets to enter a particular game. The popularity of the token is likened to the popularity of the platform and its games.
Lucky Block offers an attractive rewards strategy for crypto investors while contributing to its growing community. Distributions and the number of tokens purchased using LBLOCK will automatically increase the platform’s value. LBLOCK had risen as high as 6,000% in value at one time.
Tikka Token (TIKKA)
Tikka Token (CCC:TIKKA) has been making the rounds of late. It is essentially a Wealth Access Token (WAT) for the average investor’s financial improvement. The Web3 project aims to use blockchain technology to make waves in the wealth management space.
Cube is taking its services to a decentralized platform developed on the Polygon protocol, and the TIKKA token will be used to pay off its financial products and services.
Cube’s team claims to be managing a portfolio of over $20 million assets and targets India’s massive middle-class. With a growing asset and customer base, TIKKA could be an attractive long-term pick in the crypto sector.
Stepn (CCC:GTM) is a crypto fitness application based on the ‘move to earn’ concept. This app enables users to earn free cryptocurrency, mainly its native GMT token, while walking, jogging, or running.
Users need to first invest in STEPN NFT sneakers for the application to proceed. Once the purchase is made, users can earn GMT based on how much ground they cover.
There are multiple sneakers that users can buy, all of which come with various attributes. For instance, for standard joggers, users can earn tokens with light jogging. On the flipside, runner shoes can get tokens for sprinting.
In addition to GameFi elements, the app also features an in-app marketplace to purchase and sell NFT sneakers and in-app wallets for swap functions.
The Cosmos (CCC:ATOM-USD)ATOM token is one of the hottest cryptocurrencies in the market right now. It’s done a fine job of bucking the market trend, and opportunistic investors would definitely want to add Cosmos to their portfolios.
Cosmos is a platform focusing on interoperability and customizability through developing a network of crypto networks. These networks are connected through open-source tools, which can significantly reduce speeds and costs.
Each network on the Cosmos ecosystem connects to a central Cosmos Hub, essentially a proof-of-stake blockchain that maintains a record of every independent blockchain. The platform is powered by its native currency, ATOM, which has been gaining momentum of late.
Filecoin (CCC:FIL-USD) is another exciting crypto project aiming to create a decentralized user storage space.
It has the potential to become the go-to platform for those looking to secure sensitive documents. With decentralization, users can effectively store assets and have unhindered access to their files whenever necessary.
Filecoin could eliminate the need for cloud storage services controlled by tech giants while offering a more robust service powered by blockchain technology. The crypto platform has been in development by Protocol Labs, a premier storage platform in the crypto space. It’s famous for being a leading peer-to-peer framework that enables users to store their files with the nearest storage provider.
CashFi (CCC:CFI) is an up-and-coming DeFi platform built on multichain technology. It adopts an innovative methodology for off-chain support while supporting on-chain interoperability using a chain of Web3.0 products to stimulate liquidity.
Furthermore, it uses a process called the liquid staking algorithm for staking. It enables users to effectively trade without needing to lock in their capital while staking and solving security problems.
Moreover, it also features an NFT marketplace, which connects to the ecosystem, providing several advantages to digital content producers. Hence, CashFi is one of the more innovative cryptocurrencies that could experience a massive jump in value over the next few years.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines