The bear market has not been kind to our portfolios with Bitcoin falling over 70% since its peak of over $60k. Worst of all, the ever-worsening economic outlook as well as structural issues such as the collapse of LUNA and the more recent FTX exchange likely mean that more rough times are ahead. However, don’t despair, today we’ll be looking at 3 coins that are holding their own among the chaos of the crypto market. So let’s get into it!
The Three Altcoins to Check Out For Your Portfolio
Ripple (XRP)
The XRP Ledger is an open-source, permissionless blockchain launched in 2021 that has been making headlines due to its potential. The blockchain brings extremely low-cost transactions, speed, and scalability to the table, all with an eco-friendly outlook to boot.
XRP is particularly useful for the banking sector and can count on the support of some big institutional names. However, the US SEC has taken Ripple Labs, the creators of XRP, to court claiming that the coin is a security. The verdict is still pending, but it does put the future of XRP into question.
As with most of the crypto market, XRP has had a challenging quarter, falling from the $1 level of December 1st 2021 to $0.4 on December 1st 2022. The coin has also lost over 60% of its market cap, dropping to $39.7B, because of both the bear market and the pessimism among investors over the SEC case verdict.
Choise.com (CHO)
CHO is the native token of Choise.com, an earning marketplace that has been making headlines in recent months. Choise.com stands out by bringing together promising income-gaining solutions like staking, yield farming, liquidity pools, interest accounts, and more, and improving access to them via an easy-to-understand, unified ecosystem. Doing so greatly lowers the entry barriers into the crypto industry, allowing even recent newcomers better chances to earn on their crypto assets.
The CHO token in particular has a bright future ahead. Last month the token outperformed the vast majority of the market, sticking to the price of around $0.9 while many other coins crashed. Since launching in June this year CHO has grown an incredible 135% while the rest of the market crumbled. CHO reached an all-time high of $1.38 during this time of market downturn, which alone proves its worth.
CHO’s growth is also aided by the fact that it got listed on several major exchanges, such as Uniswap, Raydium, MEXC, and Lbank. And there are other major listings planned in the future, as announced by the top management.
Aave
Aave is a decentralised blockchain protocol that specialises in the lending and borrowing of cryptocurrencies. The protocol developed an innovative system where lenders deposit funds into a specifically created liquidity pool and earn interest on it. Borrowers can then receive immediate liquidity completely without using collateral.
Aave isn’t just another lending and borrowing DeFi protocol. On the project, investors can borrow and lend over 20 cryptos, and benefit from Aave’s flagship flash loan product.
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Aave has had a rough year falling from $273 on December 1st 2021 to $63 on December 1st 2022, and losing over $2 billion in market capitalization over the space of 1 year. The drop in price is substantial but not out of place, considering the current market outlook.
The Sky’s The Limit With These 3 Gems
Aave, XRP, and CHO are 3 altcoins with huge potential for future growth. The bear market is never easy to navigate, however skillful investors know that drops in prices are also opportunities for profits. Traders can now invest in coins like Aave and XRP at a discounted price and given their future potential, it just might be a bargain. The CHO token is, however, another story. CHO fared well during the bear market and maintained most of its price, proving just how much potential the coin has. Come bull market again, the sky is going to be the limit with these three coins.
