Cryptocurrencies with a 1000% growth potential are named

Editor’s note: not financial advice!

Experts from Bitcoinist have identified several cryptocurrencies that are likely to rise in price by more than 1000% this year. Among the most promising: 1INCH, XRP, Ethereum, Polkadot.

The first place was taken by the 1INCH token, which belongs to the DeFi segment and is actively gaining popularity. 1INCH is an aggregator of decentralized exchanges that aims to help traders find the best prices and lowest transaction fees. The cryptocurrency of the aggregator is the digital asset of the same name, 1INCH, which is trading at $ 0.456 at the time of writing.

Next, experts singled out XRP, whose team is engaged in a protracted legal battle with the US Securities and Exchange Commission. Many analysts are quite positive about Ripple’s chances of winning. The outcome of the trial is likely to affect not only XRP but the entire cryptocurrency segment. The digital asset is currently trading at $ 0.460.

Bitcoinist analysts paid special attention to ethereum. The innovative function of smart contracts allowed developers to create custom decentralized applications. This gave a clear competitive advantage to ETH. Experts are convinced that in the future, Vitalik Buterin 's cryptocurrency is expected to grow by more than 1000%. In the meantime, ETH is trading at $ 1903.

Analysts also drew attention to the open-source blockchain platform Polkadot. It ensures seamless compatibility and scalability of different networks. This platform is based on the innovative Nominated Proof-of-Stake consensus algorithm. Experts expect a significant increase in the value of DOT in the coming months. Currently, the value of the digital asset is fixed at $ 5.75.

As for the market situation at the time of writing, following a two-day meeting on May 2−3, the US Federal Reserve raised the rate by 25 basis points — from 4.75% to 5% to 5% to 5.25% per annum, which coincided with market expectations. As a result, bitcoin managed to grow by 2.4% in 24 hours. The total market capitalization of cryptocurrencies also increased by 2% to $ 1.25 trillion.