So far in 2023, the price of bitcoin (BTC) has risen 67% and with it a large litter of altcoins have gone up. This has not only been due to the general optimism that grew in the bitcoiner market, but also due to the narratives that emerged in different cryptocurrency niches.
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Among the niche altcoins that rose in price this year are, for example, those related to artificial intelligence (AI), China or Elon Musk. But that does not mean that all of these are valuable in the eyes of investors, nor that they will continue to rise. In fact, it is estimated in the market that some may be a “scam” (a scam).
For this reason, Those who told us which altcoins they consider to be really valuable and could continue to rise, as well as which ones they personally are investing in.
ImmortalCrypto sees Solana as Ethereum in its early days
ImmortalCrypto noted that of the altcoins that have risen in price exponentially thanks to increased attention to artificial intelligence, he sees only a few as valuable. “It would give much more credibility to pre-boom AI coins like Fetch.ai (FET),” he said.
However, he revealed that he has not invested in cryptocurrencies related to artificial intelligence, but in another that he considers to have a bullish future. This is the token of the Solana decentralized application network (SOL).
For him, the Solana market is like at the beginning of Ethereum. “SOL at USD 20 reminds me of ether (ETH) at USD 200”, which in the 2021 rally reached more than USD 4,000 and is currently at USD 1,800, he highlighted.
“SOL may be one of the most controversial, but technology is growing by leaps and bounds,” he estimated. For him, his NFT ecosystem “is unlike anything else.” In addition, he stressed that, with the departure of Sam Bankman-Fried from the cryptocurrency industry due to the bankruptcy of his FTX exchange, Solana “is more decentralized than ever” since he previously had influence in his market due to his support.
SantinoCrypto focuses on the bullish future of QNT
From other eyes, SantinoCripto told us that his favorite altcoin is Quant (QNT). This token is from the Quant network that provides interoperability between different networks, such as Ethereum, Solana, and Polkadot, and offers cryptocurrency integration in banks, such as CBDCs.
The trader specified that Quant would be a bit of the “crypto anti-heroes” side for being allies of the banks. But, he maintains that in the end this is what “is going to help the adoption of cryptocurrencies from the most business point of view.“
“During the bear market we’ve had since late 2021 (and now it looks like we’re already on the way out), Quant has performed very well,” he said. He detailed that it bottomed out between USD 45-50 and rose to USD 230-250, which means an increase of more than 400%.
Therefore, he noted that it outperformed many of the top 100 cryptocurrencies, including bitcoin. It rallied around 85% from its low of $15,000 to $28,000.
Now QNT is trading around $124 and for SantinoCrypto, “it will have another bull run shortly” as well as in the medium and long term. “I think it’s a matter of time before it enters the top 20 in the market capitalization ranking,” he mentioned while he is now ranked 41st.
As for the cryptocurrencies that have made a big run up so far in 2023, he revealed that he likes Gmx (GMX) from the Arbitrum network’s decentralized exchange “a lot.” And he estimated that he also likes SingularityNET (AGIX) from the artificial intelligence services marketplace “quite a bit”.
AGIX’s price has risen more than 1,000% this year with the boom in artificial intelligence. Therefore, he estimated that it is normal that now he will correct a bit and lateralize, but he hopes that he will “perform very well” during this year and next.
However, he assured that he is not investing in these latest altcoins, but only in Quant. “I’m not interested in other assets because I prefer not to diversify and focus on assets that I know well,” he said. For this reason, he concluded that in his cryptocurrency portfolio he only has QNT and BTC.