Crypto analyst drew attention to five promising altcoins

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One of the most fascinating features of the crypto space is the constant pursuit of new knowledge and better information. Crypto traders and investors are always trying to find out which cryptocurrency is best for investing or trading.

Due to this, many self-proclaimed cryptocurrency experts have developed a variety of means for communicating market news, analysis, price predictions, and general crypto data. Today we take a look at the top 5 altcoins ending the year on an extremely bullish note, compiled by YouTube cryptanalyst Chico Crypto.

Olympus (OHM)

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The first altcoin, according to Chico Crypto, is Olympus DAO (OHM). It is a decentralized reserve currency protocol in which each OHM token is backed by a basket of assets held in the Olympus treasury. Previously, the Treasury only had DAIs. In a fairly short period of time, coins such as FRAX, LUSD, SUSHI, ETH, as well as LP tokens (for liquidity providers) like OHM-DAI from Sushiswap were added there.

In his opinion, the Olympus treasury has become one of the most diversified in terms of tokens, as it consists not only of OHM, but also other valuable crypto assets. Its market capitalization as of November 29 exceeds $ 3.9 billion, and the token is trading at $ 775.

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Olympus builds up its treasury by simply buying Treasury assets from investors at their risk-free value and pays them back to OHM at a below par rate after transferring rights to the asset, which currently takes five days.

Climate DAO (AIR CONDITIONING)

The number two cryptocurrency Klima DAO is a fork of the OHM protocol, which aims to create the world’s most liquid carbon credit market while accelerating the rise in the price of carbon assets. As a reminder, each Olympus proprietary DAO token is backed by the Treasury’s basket of cryptoassets.

However, unlike Olympus, in Klima DAO, each KLIMA token is backed by BCT tokens – base carbon tons, which are carbon credits from the Toucan protocol. In a short time, KLIMA has accumulated in its treasury more than 11.2 million tons of carbon, the value of which is currently more than $ 100 million.

The analyst claims KLIMA is fulfilling its mission of raising the price of carbon credits. The launch of the Klima DAO on October 18 has already had an impact on the market: prices for renewable carbon credits have shown significant growth in November alone. On November 22, one loan was valued at $ 7.20, while on August 9, the loan was given $ 2.3. KLIMA is trading at $ 1204 at press time, according to CoinGecko.

Ren (REN)

According to Chico Crypto, this choice is related to interconnection, as it will be in high demand in the very near future. REN is currently ranked 146th on CoinGecko, but in March this year it was ranked 82nd. The analyst says that, in his opinion, REN will return to the top 100 cryptocurrencies and, possibly, reclaim its old March rating and even climb even higher. At the time of publication, the REN price was $ 0.872948.

The REN team previously announced on Twitter that their protocol will soon receive Host-to-Host (H2H) technology. According to Ren ecosystem activist Maximilian Roshko, H2H means that RenVM will be able to connect its own coins and tokens between blockchains, which will be a full-fledged software bridge. Ren VM will move from supporting seven assets, which are mostly traditional coins such as Bitcoin (BTC) and Dogecoin (DOGE), to supporting most tokens in the crypto space.

KILT Protocol (KILT)

According to the analyst, the KILT protocol has a lot in common with Polkadot. KILT is a blockchain protocol for issuing verifiable, revocable and anonymous credentials that enable trusted marketplace business models in Web 3.0. It is a blockchain of decentralized identifiers (DID).

In addition, the KILT token will work on both blockchains. It was launched as a so-called crowd loan on the Polkadot Kusama canary network, but once the lease on the Kusama parachain ends, they will eventually move to their parachain on Polkadot. Kusama and Polkadot only have one token, not several. This is a big plus, and it means that there are many more interesting things in store for the developers. The analyst referred to a post by another well-known expert, DonnieBigBags, who tweeted the following:

KILT is the reason I got into GLMR / MOVR. They worked on a liquidity mechanism for Polkadot – Polimec. Regulators will take harsh measures against DEX. KILT will build a fully compliant DeFi infrastructure.

Currently, the KILT token has no statistics on CoinGecko. On CoinMarketCap, it is trading at $ 9.21 with a trading volume of $ 3,665,895.

Energy Web Chain (EWT)

Number five is the Energy Web Chain (EWT), a blockchain-based virtual machine built to help develop applications for the energy sector. The Energy WebChain operational token is called the Energy Web Token (EWT).

The analyst reports that Energy Web recently updated its validator code of conduct to include a section on obvious rent seeking:

Validators who are solely motivated by the EWT block reward, abuse their position to create detrimental effects in the EWT markets and / or fail to contribute to the mission and success of the EWT ecosystem, as described above, will face suspension and / or exclusion from the list of validators.

He added that by the end of the year, something big will happen on the Energy Web – and that is staking. Jessie Morris, CEO of Energy Web, spoke about this in a tweet as follows:

Staking is the foundational tool for bringing the Energy Web Stack to market. In the near future, staking will enable individuals and companies to invest in certified renewable energy projects and bring enterprise-grade solutions to market.

In conclusion, the expert noticed that EWT is connected to KILT, and KILT is connected to Polkadot. EWT will eventually become a relay network linked directly to Polkadot. For reference, EWT is currently retailing for $ 9.73.

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