Investments for Recession Times: ATOM And ALGO
A prominent crypto analyst recommends Cosmos (ATOM) and Algorand (ALGO) among his top five altcoins to invest in during the recession.
In a new interview with Altcoin Daily, the pseudonymous Coin Bureau host known as Guy says decentralized parallel blockchain network Cosmos at the top of his list because of its high reward and strong development team.
“I would be quick to jump on [ATOM]. I think it’s an amazing project. I love Cosmos. I like the idea of interoperability. There is some great technology out there. There is a great team behind it and also, I must say, a really great community behind Cosmos as well. There have been some amazing responses to ATOM staking now.
At the time of writing, Cosmos is changing hands at $9.12. Then he singled out Ethereum (ETH) rival Algorand, saying the blockchain is putting itself in a strong position for the next crypto bull market.
“Algorand is an exciting play for the next bull market. I think we can see a lot of very good, interesting, successful projects developing in his environment at this time. I think it also has a good chance of being one of the non-EVM (Ethereum Virtual Machine) chains. I think he keeps it really, really well. There seems to be a lot of development and a strong community behind ALGO.
At the time of writing, ALGO is changing hands at $0.170. It prefers Arweave (AR) a decentralized database network.
“Arweave is a project I really love. I think that’s an amazing use case. Again, the technology is amazing and one. So most of those settings fit me.
At the time of writing, AR is trading at $6.62.
Guy focused again on Cosmos to choose among the projects built on its blockchain, whether Osmosis (OSMO) or JUNO (JUNO), to include in his top five list. Osmosis is an automated trading protocol built into the Cosmos software development kit (SDK) that aims to allow participants to create secure trading currencies of the cryptocurrencies they hold through an inter-blockchain communication system. (IBC) compatible.
Meanwhile, JUNO is a proof-of-concept blockchain designed to act as a cross-chain smart contract hub for the Cosmos ecosystem. At the time of writing, OSMO is valued at $0.745 and Juno at $1.18.
Finally, Guy puts in the top five Aave (AAVE), a popular lending and borrowing system (DeFi). “I think the DeFi era will come back. I think DeFi will be the big story of the next bull market. AAVE is a well-established service. The basics are there. I think that’s one of those that will stay, will be one of the survivors of this bear market.
At the time of writing, AAVE is changing hands at $55.67.
Let you be the first to know about crypto news by following our Global Finance News Telegram channel!