The market has fallen sharply recently. Have you bought at the bottom?

I added some Ethereum to my position, and although it was uncomfortable to see the price drop immediately after buying, I still believe in the concept of long-term investment.

Over the past few months, we have witnessed a huge increase in the price and demand of many cryptocurrencies. I am sure we are all beginning to wonder, which cryptocurrencies should I add to my portfolio?

Today, I will detail 8 coins that I believe have strong momentum before falling. Please note that this is not a recommendation to buy, you should always manage your own risk and be responsible for your own capital.

1. Manta ($MANTA)$MANTA

Manta is essentially a blockchain protocol designed to provide decentralized data security and anonymity solutions. They are able to integrate with multiple blockchains such as Ethereum and Polkadot, enabling users to securely store and share their data using data masking and anonymity techniques.

Manta also offers high scalability and low transaction fees, which is something Ethereum has been trying to solve for years. Some people even call Manta a Swiss Army knife in terms of data privacy and performance.

So how does it work? It is a platform that enables developers to build and deploy ZK applications on Ethereum with low fees. Zk-proofs are used to ensure data privacy and validity. Manta has strong backing, including notable investors such as Binance, Polychain, ParaFi, and Hypersphere, along with a growing ecosystem of partners. They aim to deploy on their scalable and secure L2, dubbed Manta Pacific.

With institutional money entering the crypto space and the expected approval of an Ethereum ETF, privacy seems to be the next story to come. Manta is more than just a cryptocurrency, it is a passport to a world where applications are accessible, efficient, and secure.

Investors need to consider a few things when considering investing: The first unlock will take place in September 2024, which means there is no allocation to investors yet. Given the current trend of airdrops in the ecosystem, this could further enhance Manta’s value proposition.

2.Ondo Finance（$ONDO）

Ondo Finance is a rising Real World Asset (RWA) leader backed by notable investors such as Founders Fund, Pantera, and Coinbase. $ONDO is leading the RWA narrative with over $200M in AUM and a significant (~40%) share of tokenized securities. With partnerships such as Mantle, Solana, and Polygon, $ONDO appears to be heading in the right direction for continued growth. $ONDO has a variety of interesting products such as: OUSG (Tokenized BlackRock ETF), OMMF (Tokenized BlackRock Money Market Fund), USDY (Stablecoin backed by US Treasuries), and Ondo Bridge.

It will be interesting to see how the $ONDO and RWA narratives develop in the coming months. Let’s take a look at their market stats: As of now (Jan 22, 2024), the market cap is $370M and the fully diluted valuation (FDV) is $2.5B. With their earliest unlock period being 12 months later, being listed on Coinbase, and having a total locked value (TVL) of $150M, we are clearly early adopters.


3. Cards ($CTSI)$CTSI


Cartesi is not new to the crypto space. In 2023, we saw Cartesi release a lot of impressive developments and updates, but now that it's 2024, let's take a look at what they've accomplished and whether they're enhancing what they've been doing as they continue to build the reputation of the author.

In short, Cartesi brings unique value to the crypto space, such as mainstream development toolchains and computational scalability. In an interesting development, the Cartesi team will host a BUIDLathon hack event with a $15,000 prize pool, where developers can leverage its technology to create fully decentralized applications using familiar programming stacks and libraries.

As the L2 narrative continues to heat up, it looks like CTSI will only get bigger and better as more developers start paying attention to its technology. This is something I will be watching closely. Cartesi staking is also noteworthy, with a large amount of CTSI being staked and a participation rate of over 40%. Staking contributes to the security and efficiency of the Noether POS system and provides rewards for users’ CTSI.

Furthermore, the main reason I bought this coin was because the founder of Celestia recommended it.

A nice feature of CTSI is that there are almost no unlocks left, so their FDV to market cap ratio is almost 1:1. We can not expect any sudden sell-offs, and while the project side has been continuing to build, we can only imagine How far will they go from its current market cap of relatively small $185 million.
4.Dusk（$DUSK） $DUSK

DUSK is essentially a unique L1 blockchain customized for finance, with the main goal of meeting privacy and compliance needs. The project chose to use zero-knowledge proof (ZK-proof) to achieve privacy and uphold the ZK narrative.

Dusk is a project built from the ground up, which ensures full control over security, native compliance features, and high performance tailored for financial businesses. As an L1, Dusk will not compromise on decentralization and security, which is critical to trust in the financial sector. The advantage of Dusk as an L1 is that, unlike L2 solutions that rely on another chain, it will be self-sufficient and provide stronger integrity.

Dusk is also the first L1 with built-in privacy features, where any wallet, transaction or smart contract will remain confidential. It built a custom virtual machine to handle confidential transactions and is compliant with EU regulations such as MiCa, MiFid and GDPR.

With $Mina’s recent outperformance in the ZK space, it’s not unexpected to expect DUSK to follow suit. DUSK does not have a large amount of tokens to unlock and actually already has 100% of the circulating supply.


5.Restake Finance（$RSTK）

Essentially, RSTK is a souped-up version of liquidity staking. As an LSD, users are able to stake ETH to earn POS rewards while also being able to access their staked ETH in the form of LST (liquid staking tokens), which in RSTK’s case is rstETH.

rstETH can also be used to earn additional rewards through other protocols. Now let’s look at EigenLayer, a protocol that allows ETH validators to earn additional revenue through software modules on top of ETH.

The importance of understanding the dynamics of EigenLayer is that RSTK's reward system is as follows: users will earn native ETH rewards through the POW mechanism, while rstETH will earn additional revenue through EigenLayer, which can be withdrawn from dapps. This rstETH can also be used to lend, borrow, and earn income, basically earning income on ETH without locking it up.

This is also the first project on EigenLayer with a token, a precursor to the re-staking narrative with a native reward system. There has been huge demand and interest in it over the past month, but the token has sold off due to the lack of an off-the-shelf product. Overall, RSTK is in high demand. If the team can deliver, we expect to see huge growth potential here.

6.OrdiSwap（$ORDS）

While $SAVM attracted most of the hype in January, OrdiSwap has been quietly building, launching its mainnet AMM on native BTC, and I firmly believe that the current price is not in line with its fundamentals.

Technologies like $SAVM and $ORDS are paving the way for DeFi on Bitcoin, and for $ORDS in particular, total value locked (TVL) is growing rapidly. For comparison, this could be considered UniSwap on Bitcoin, which in itself represents huge potential, not to mention its very excellent UI/UX through which you can view top tokens, TVL and fee analysis. OrdiSwap has the potential to become the top automated market maker (AMM) on Bitcoin and is paving the way for DeFi on Bitcoin, and its value is expected to be even higher.

7.PYTH（$PYTH）

PYTH is a seemingly undervalued price oracle that could be considered a competitor to $LINK, but its fully diluted valuation (FDV) is only $4 billion. With the recent hype around ecosystem airdrops, there is an expectation that holders of $PYTH may be eligible to receive these airdrops. It is essentially a price oracle and the market data is the best of its kind. $PYTH is also widely used by many tokenless projects, including currently popular ones like Drift Protocol, Parcl, MarginFi, and Zeta. Drift Protocol also hinted at an airdrop, so although there is no official confirmation, there is speculation that $PYTH holders may be eligible for it. So why is this a strong buy signal? The reason lies in the rumors surrounding $PYTH holdings and airdrops, and of course the fact that it is severely undervalued compared to its counterpart $LINK. Notably, $PYTH is also the native token of $SOL, further benefiting from the Solana craze.

Overall, $PYTH looks like a buy right now, with analysts offering a price target of more than 50% above current prices. Notably, there is a huge unlock coming on May 20, 2024, with 21.3% of the supply set to enter the market. The strategy here is to buy $PYTH and stake it, then come back to it a few months later.

8.Six（$SIX）

SEI is essentially an L1 that redefines the scalability and efficiency of blockchain through parallel computing, leading the narrative of parallelized EVM. SEI has seen a crazy 200% price increase over the past 30 days.

Parallel computing is the core concept of these parallelized EVM narratives, and it involves the simultaneous use of computing resources to solve computational problems—in layman’s terms, allowing multiple transactions to be processed in parallel at the same time, which significantly increases the throughput of the blockchain. In a standard EVM, transactions are processed one after another, resulting in a single-threaded execution model, whereas a parallel virtual machine like $SEI is able to break up these tasks, allowing multiple transactions to be processed in parallel. This improves scalability, efficiency, and optimization. As the market continues to saturate with new rollups emerging, and issues with the global fee market continue, the L2-centric narrative will shift towards parallelizing EVM, with $SEI looking like a beta version of $SOL from the previous cycle. In addition, another highly anticipated parallel virtual machine project $MONAD is also coming soon! $SEI recently unlocked $89 million on January 15th. It will be a while before the next unlock occurs. The dip has arrived and it’s time to start buying slowly.

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