7 months ago
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As the community prepares for the much-anticipated fourth halving set for April 19, 2024, the buzz around Bitcoin-based projects is reaching a fever pitch. Crypto influencer Leshka.eth, with a following of over 128,500 on X (formerly Twitter), has identified a set of altcoins under the Bitcoin financial ecosystem (BTCfi) that could see significant gains post-halving.
Crypto Analyst Shares His Top-10 BTCfi Altcoins
Leshka.eth told his 128,500 followers on X (formerly Twitter) about the potential of various projects in the BTCfi landscape. He remarked, “The countdown to BTC halving ends in 2 days. If you missed 1,000x on BRC20 and Ordinals, if you missed 800x on STAMP, check out my watchlist of BTCfi altcoins poised to surge because of the halving.”
Here’s a breakdown of the top altcoins Leshka.eth believes could benefit from the upcoming Bitcoin halving:
1. Hulvin (HULVIN): This project is touted as the first halving-themed memecoin with the slogan “Make Halving Great Again.” Initially mentioned by Leshka.eth when it was valued at a $9 million market cap, Hulvin has seen an impressive ascent, crossing a $30 million market cap.
“I first mentioned it when it was at $9M market cap. Today it surpassed $30M MC and outperforming all other tokens on the market. Still much space for a price discovery,” Leshka.eth highlighted. The coin currently trades at $0.01298 with a daily volume of $5.8 million.
2. Map Protocol (MAP): Designed to simplify cross-blockchain transactions using light clients and zero-knowledge (ZK) proofs, MAP Protocol operates without relying on trusted third parties. It facilitates secure peer-to-peer connections and emphasizes compatibility across different blockchains. Currently, MAP is trading at $0.0248 with a $107 million market cap and a 24-hour trading volume of $3.2 million. Leshka.eth views it as a crucial infrastructure component for the evolving blockchain ecosystem.
3. Stacks (STX): As a layer built on top of the Bitcoin blockchain, Stacks introduces functionalities such as smart contracts, decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). It is often compared to the Lightning Network due to its extension 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 a digital gold into a more expansive ecosystem capable of supporting a wide array of applications,” Leshka.eth noted.
4. Mintlayer (ML): This layer 2 solution enhances Bitcoin’s functionality 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 a daily volume of $2.5 million, Mintlayer stands out for its integrative approach to extending Bitcoin’s utility without the need for an entirely separate blockchain.
5. SatoshiSync (SSNC): Collaborating with LayerZero and Chainlink, SatoshiSync offers a toolkit for easing transactions on Bitcoin’s L1 and L2 layers. Even before its token launch, the platform had attracted over 50,000 users, underscoring 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 enhancing the value of BVM tokens. The BVM team is also planning to introduce airdrops for BVM stakers, which Leshka.eth believes could “drive up demand for the tokens significantly.” BVM is currently trading at $5.35, with a market cap of $133.6 million and a 24-hour volume of $2.74 million.
7. Naka Chain (NAKA): Positioned as a cost-effective, high-speed Bitcoin L2 blockchain tailored for DeFi applications that utilize Bitcoin for gas fees, Naka Chain enables developers to port decentralized apps from Ethereum to Bitcoin with minimal changes. It functions similarly to the Ethereum Virtual Machine (EVM), enhancing its appeal. NAKA is trading at $0.026, with a market cap of $56.32 million and a daily volume of $128,000.
8. Elastos (ELA): Elastos aims to construct a blockchain-driven version of the internet, addressing scalability and flexibility issues found in Ethereum and other DApp platforms. With a market cap of $81 million and trading at $3.69, ELA focuses on building a robust infrastructure for a decentralized internet.
9. MVC (SPACE): This public blockchain integrates multiple technologies, including the UTXO model and Proof of Work (PoW), to deliver exceptional performance, minimal fees, and high decentralization. SPACE trades at $17.59 with a market cap of $52.3 million and a 24-hour volume of $1.31 million.
10. Photon: Touted as a superior traditional Layer 2 solution, Photon leverages the security of Bitcoin’s Layer 1 to support scalable decentralized applications, providing efficiency and flexibility comparable to Ethereum’s ecosystem. This project is one to watch, with its upcoming launch expected to attract significant attention. “Keep an eye out for its upcoming launch!,” Leshka.eth stated.
11. Additional Mention – BounceBit: BounceBit is a Bitcoin staking chain that allows users to earn yields on their dormant Bitcoin. With a focus on early access, the platform encourages active participation and utilization 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 reached on April 1.
STX price, 1-day chart | Source: STXUSD on TradingView.com
Featured image created with DALL·E, chart from TradingView.com
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