The cryptocurrency market experienced a major crash in May and continues to struggle today. FED shutdowns and investigations are also creating new hurdles that further dampen the growth potential of established cryptos such as Cardano.
However, while many major cryptos are bearish today, the competition is striving to outperform them. Cryptos that could rise above the rest soon include Aave (AAVE), Stellar (XLM) and new player, Uniglo (GLO).
Aave may soon overtake major cryptos. Aave is a very popular platform, and it is an Ethereum-based open-source decentralized lending protocol with a growing role in the decentralized finance (DeFi) space. The platform is known for enabling transparent lending and borrowing transactions through a pool of liquidity. As of this writing, the price of AAVE was on an upward trajectory. Last week, its price increased by 12.68%, reaching $109.73. Today, AAVE is trading at $110.16.
Stellar could also outperform Cardano and other major cryptos. Stellar is a platform for creating, sending and exchanging digital money, including digital currencies and fiat. While its native XLM token has seen price declines in the first half of 2022, the token has also shown an ability to grow massively. In 2021, AAVE doubled its price from $0.13 to $0.27. As the market recovers, Stellar could achieve a similar magnitude of growth.
Uniglo is one of the latest iterations of social currencies, and this protocol aims to enhance the security, stability, and growth of its GLO token. Uniglo has a community vault that will contain several assets that can save the token. As such, holders of GLO tokens would not have to worry as much as if they were holding a volatile and completely speculative coin.
With its growing popularity, Uniglo made 25% gains in the first week of its presale. The crypto is already in the second phase of its pre-sale, which will last until mid-September.
Cardano is one of the most established cryptos in the world. It is a cryptocurrency project and a decentralized public blockchain built on Ethereum. The platform was established in 2015 and officially launched in 2017. In the last 24 hours of writing, Cardano recorded the highest profit levels since March. The bulls are seriously considering pushing the price of ADA as competition intensifies in DeFi.
In the cryptocurrency landscape, nothing is constant. Yesterday’s big players may not be as big today, and it might be time to bet on today’s lesser-known cryptos that are showing signs of a great future.
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