May is in general one of the better months for crypto. If we look at the chart, we can see more green compared to red. Also, I see high green % numbers and low red % numbers.
So, that leads me to the question, which coins should you be looking at in May? Well, my team and I found four great altcoins to look out for.
1) PARSIQ ($PRQ)
My first pick, today, is PARSIQ. PARSIQ is all about connecting on-chain and off-chain apps in real time. That’s what the team has been doing for a long time. However, recently, a big change happened.
As you may know, blockchain can’t talk to each other. Smart contracts only work on their networks. Well, not anymore. PARSIQ released the Reactive Network. Smart contracts can now read contracts on other chains. As a result, smart contracts on EVM chains can now talk to each other.
The next major milestone in the development of Reactive Network is here!
The first glimpse onto our testnet as we launch #ReactScan, our own network explorer
Unicornisation 2.0 – Your chance to participate in the development of Reactive Network https://t.co/u27C7we433
— Reactive Network | powered by PARSIQ (@0xReactive) March 28, 2024
This has massive implications. For example, smart contracts can now trigger actions on different chains. For instance, during a game on Polygon, you can trigger an action on the BSC chain. So, it’s 100% cross-chain and interoperable. But it’s not only about gaming, it can also work great in trading. For example, with arbitrage. 5 We just released an article about this. Check it out here.
Arbitrage is when the price of an asset is not the same on different exchanges and chains. Reactive smart contracts allow you to react fast and take full advantage of arbitrage options.
To clarify, with the Reactive Network, you’re not relying on oracles anymore. Everything stays on-chain. All off-chain components, like a CEX or a price feed, become obsolete. This is truly revolutionary. PARSIQ is a much cheaper but very real competitor to The Graph. Remember, we have The Graph in our 50x Portfolio.
Fully on-chain, autonomous smart contracts are finally here.
Want to take part in the next step in EVM evolution?
Find out how #ReactiveSmartContracts could change your dApp and take part in our testnet for yourself:https://t.co/9EbduzgT2J pic.twitter.com/WT816fUQRY
— Reactive Network | powered by PARSIQ (@0xReactive) May 2, 2024
The current $PRQ price is $0.1196. It has a market cap of $31.3 million. Of the 310 million max and total supply, already 260 million $PRQ circulates. It’s well worth keeping an eye out on this project.
2) Goldfinch ($GFI)
With Goldfinch we enter the world of real-world assets. Goldfinch’s goal is to have financial inclusion for everyone.
Hence, Goldfinch provides credit lines. You can supply your $USDC, and borrowers can, well, borrow it. However, here’s the twist. These borrowers are companies from all over the world. Start-ups in Africa, or institutions in major American cities. The difference is, that they all have access to the same capital markets.
Excited to see the live launch of @heron_finance, open for investment and built on top of @goldfinch_fi.
US accredited investors can now build a portfolio of private credit deals on Heron Finance.
@Coinbase integration for USDC funding
— Goldfinch (@goldfinch_fi) February 7, 2024
Goldfinch brings the capital market to the user. A major difference is that you don’t need collateral. Instead, with a collective assessment of other participants, they check their creditworthiness.
BlackRock recently started a multi-billion RWA fund. As a result, RWA projects saw up to 20% price increases in their tokens. This also included Goldfinch. The current $GFI price is $3.45. Its market cap is $254.8 million. Out of the 114 million $GFI tokens, 73 million circulate. Over the last year, $GFI is up by 545%.
We're thrilled to announce that our community has approved the deployment of the Goldfinch smart contracts on @BuildOnBase L2!
This strategic move aligns with our mission to make the power of crypto accessible to a broader audience by improving user experience and reducing gas…
— Goldfinch (@goldfinch_fi) November 30, 2023
I told you already 1 year ago about Goldfinch. With a price of $0.63. So, RWA is in the starting blocks to make it big in the coming bull run leg.
3) Axelar ($AXL)
With my next pick, Axelar. I’m getting all excited. First, it’s all about cross-chain. Second, Axelar is part of the Cosmos Hub. That’s my favorite ecosystem. However, back to Axelar. It offers the Axelar Virtual Machine and the Interchain Token Layer. So, it’s a lot about bridging, but there’s more.
Today, blockchain interoperability has a new look and new language
Axelar is the shortest path to scale
pic.twitter.com/numwDe0e6T
— Axelar Network (@axelarnetwork) April 22, 2024
The Axelar VM allows for permissionless connection of new chains. This makes it more than only a messaging service. It is a fully programmable cross-chain layer. The Interchain Token Service allows devs to launch tokens on more than one network. There’s also no coding required. It’s a decentralized and open-source feature that allows for interoperability. However, there are two more features:
- The Interchain Amplifier allows developers to connect new blockchains with a permissionless setup.
- The Interchain Maestro offers contracts and templates across various chains.
Stake the multichain
https://t.co/3I3v89RBmV
— Axelar Network (@axelarnetwork) April 30, 2024
Axelar is programmable, scalable, and secure. Currently, Axelar already serves 15 chains, with more on the way. The $AXL token’s current price is $1.24. It has a market cap of 795 million. The max supply has no cap, and the total supply is 1.14 billion tokens. Out of these, 646 million already circulated. $AXL is up by 118% over the last year.
4) Helium Network ($HNT)
With Helium, we are deep into the IoT (Internet of Things) and DePIN. Now, DePIN is all about providing infrastructure. Well, let that be exactly what Helium provides. It offers a decentralized wireless infrastructure. Mining on Helium started in July 2019. However, in April 2023, Helium migrated to Solana. Currently, you can find Helium partners all over the world.
Important Update: Helium Wallet App v2.7.5 (Android & iOS)
The v2.7.5 release addresses a bug where Hotspot reward claims for individual Hotspots were non-functional while claim all functionality was still operational. This issue is now fixed.
Please see v2.7.0 for details on… pic.twitter.com/xa56A7r9dN
— Helium
(@helium) April 20, 2024
For example, this map shows its hotspots. It uses its nodes to connect its network with wireless devices. By building coverage using compatible hotspots, you can mine the Helium tokens. These are:
There are also Date Credits. These are $USD-pegged utility tokens. They derive from $HNT and you can use them to pay gas fees. However, you can only produce DC by burning $HNT. So, there’s a nice mint and burn mechanism in place.
Helium MOBILE Network continues to scale. @helium_mobile, @rawrmaan. https://t.co/gnAQLhQmhU
— Helium
The current $HNT price is $5.41. Its market cap is $886 million. Of the 223 million max and total supply, 164 million circulate. Over the last year, its price has gone up by 222%. So, did you already know any of these projects? If so, let me know which one in the comments and what you like about it.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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