Bitcoin and Ethereum may control the crypto market, but several investors are searching for the next cryptocurrency for 10x gains to buy.
The impressive results posted by other small-cap protocols has sparked the lookout for the next big hit in the crypto market.
Below are some cryptocurrency for 10x gains you can add to your portfolio.
1. Avalanche (AVAX)
The asset, which sports a highly scalable network, has begun to snatch a significant share of the booming decentralised finance (DeFi) ecosystem with a 1.15% market dominance.
The Avalanche protocol has also shot up the crypto ranks and currently occupies the 10th spot on the most valuable virtual assets with $29.04 billion in market cap.
The Avalanche’s meteoric rise can be attributed to the protocol’s recent fundamental moves. Among them is the partnership with Formula E team Andretti Autosport.
Avalanche also recently signed another strategic partnership with one of the ‘Big Four’ global accounting firms, Deloitte. According to the details of the deal, the blockchain will be used in building a new disaster recovery platform to help state and local governments easily show why they qualify for federal emergency funding.
This news about the deals has led to a dramatic increase in the price of Avalanche. The asset has surged to an all-time high (ATH) of $144.96 on November 21.
However, Avalanche has been hit with a price retracement of 10.6% from its record value and currently trades at $129.25, down 4.16% in the past day. The low-cost, eco-friendly, and high throughput blockchain has been on a 12-month trailing increase of 2,933.80%, reflecting growing confidence in the project’s capabilities.
2. Shiba Inu (SHIB)
Next on our cryptocurrency for 10x gains is the popular Dogecoin killer Shiba Inu.
Shiba Inu, a spin-off of the Scrypt-based meme coin, has continued to soar and gain strong community support. Founded by an anonymous developer nicknamed Ryoshi, the asset has tried to topple Dogecoin from the meme throne.
The project has been successful with its growing use cases like the ShibaSwap decentralised exchange (DEX) platform and the launch of a non-fungible token (NFT) game called Shiboshi.
The popularity of the Ethereum-based token prompted renowned crypto exchange Gemini to add support for SHIB trading.
Shiba Inu has surged with this fundamental adoption and rallied to a record high of $0.00008616.
However, it has seen bearish moves recently, plummeting to 5.76% and trades at $0.00004250 at press time.
Meanwhile, a strong bullish push in the broader crypto market could see SHIB retesting its previous highs, making the ERC-20 token a cryptocurrency for 10x gains.
3. Cardano (ADA)
The Cardano network occupies the 6th spot on the most valuable crypto ranking with almost $60 billion in market cap.
The proof-of-stake (PoS) protocol’s great appeal lies in the preference for a scientific approach towards solving the blockchain trilemma facing the likes of Bitcoin and Ethereum.
Cardano, founded by an early Ethereum co-founder Charles Hoskinson, has become a major force in the crypto ecosystem. The network has made key strategic partnerships with world governments and blockchain-based companies, making it an ideal cryptocurrency for 10x gains.
Cardano has partnerships with the Zanzibar government to create long-term blockchain solutions. According to the press release, Cardano’s development hub Input Output Hong Kong (IOHK), will help Zanzibar become a blockchain hub for the African continent.
The price of Cardano’s governance token ADA stalled soon after a surge of $3.10 in mid-September.
Currently, ADA is trading at $1.788, down 1.51% in the last 24 hours. This data puts ADA below the 20-day moving average (MA) support zone of $1.979, pointing to a strong bearish control. However, this situation presents an ideal opportunity to buy ADA now that is low and profit when the broader crypto market flips bullish.
4. Polkadot (DOT)
Polkadot is one of the top cryptocurrency for 10x gains, given its rich history with Ethereum through founder Dr.Gavin Wood.
The protocol enables a heterogeneous network that allows seamless value transfer between public and private blockchains. Polkadot, leaning heavily on sharding technology, uses a relay chain that allows other protocols to connect to its ecosystem through parachain and parathread slots. These spots are temporary, and each network has to bid to secure a space on the protocol.
While Polkadot has not made many partnerships, the Ethereum competitor has remained one of the most popular protocols in the crypto space. The Polkadot parachain auction is ongoing, with DeFi hub Acala Network securing the first spot on the highly-coveted parachain network for $1.3 billion. Others like Moonbeam are also in contention for the second lease of parachain auctions.
DOT has seen bearish activities in the past few days in tandem with the broader crypto market. It is currently trading at $39.08, down 2.47% on the daily trading chart. Meanwhile, DOT has surged 322.70% YTD relative to its current price.
5. Polygon (MATIC)
Polygon trades under $2, but the layer-two protocol is one of the top cryptocurrency for 10x gains due to the strong adoption the network is enjoying.
Polygon was built to relieve the Ethereum network’s transaction burden and has become a hotspot for several decentralised applications (dApps) protocols.
Aside from this, the multi-chain solution has keyed into the non-fungible token (NFT) boom through the Polygon Studios initiative. In the spirit of fostering greater adoption of the nascent sub-sector, Polygon Studios has become a strategic partner with blockchain-based NFT metaverse DVision.
Polygon’s MATIC is presently bullish and is trading at $1.582, up 1.63% in the past 24 hours. However, the asset is trading below the 20-day MA price of $1.720, but this is expected to change in the coming weeks.
Showing strong potential, MATIC has surged 7,312.04% in the past year relative to its current price.