The crypto is facing a market heat of regulations and legal battles, and the Fed’s recent rate hike plan has shaken investor faith in Bitcoin, ETH, and XRP. Hence, individuals are exploring low-cap assets with less regulatory pressure.
In a recent video update, a renowned crypto analyst from CryptosRUs, shed light on three altcoins poised for better prospects in February.
Excited to know, let’s delve in!
These Altcoins Might Surge With BTC Price Set To Explode
After a month of stagnation, Bitcoin values surged beyond $46,000 and may reach $50,000, according to Santiment. Over $18 billion has poured into Bitcoin funds in a short time due to institutional demand. This influx and BTC’s halving suggest tremendous growth for the king cryptocurrency. BTC’s rise has opened the door for low-cap assets and Layer 1 blockchain assets.
Stacks (STX)
One of the top picks is STX, which recently surged after Tim Draper supported the coin publicly and announced an imminent upgrade. This news led to a remarkable 20% price increase, with STX reaching $1.80 within 24 hours. Tim Draper is optimistic about STX’s potential, predicting it could reach $10. STX plays a crucial role in enabling the development of decentralized applications and DeFi products on Bitcoin’s layer 1 blockchain. The upcoming upgrade is designed to improve its efficiency and security, solidifying STX’s position as a promising player in the crypto industry.
Polygon (MATIC)
Next comes Polygon which is gaining traction through partnerships with major brands like Fox Corporation, DraftKings, NFL, Starbucks, and Nike. As a Layer 2 scaling solution for Ethereum, Polygon addresses scalability issues and fosters mainstream adoption. Big brands in the kitty Polygon contributed to its price surge. Polygon (MATIC) is trading at $0.8110, but the price rapidly dropped to $0.7879 recently, marking a 2.85% decline.
Immutable X (IMX)
IMX launched Sphere, an NFT marketplace focused on gaming, and secured partnerships with Polygon, VanEck, and Ubisoft. IMX’s entry into the gaming sector through Sphere highlights its strategic positioning. Support from influential entities like VanEck and Ubisoft validates its potential to capture a significant share of the gaming market, fueling its growth trajectory.
The recent partnership proved beneficial in price surge and gaining investor faith, with its value climbing to a weekly range of $1.89 to $2.31, increasing by 11.09% within the past week alone. Not only that Immutable X market capitalization has also gone up more than 20% from $2.6 billion to a little above $3 billion in the past week.