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Mind Of Mav

13 Underbought Projects In An Oversold Market

 
 
 
The crypto industry has recently seen another significant price crash, but it appears that the recovery is just starting. While the industry definitely isn’t at its best right now, and many are concerned with the recent price drops, experienced investors know that this is the best time to buy.

However, if you are looking for a long-term investment that will bring massive profits after several years of waiting, then your best chance are underrated cryptos. The industry is full of projects that have good technology, a great roadmap, and many use cases. According to everything, these projects should be the stars of the entire crypto sector, and yet, for some reason, they are being overlooked and undervalued. You can use that to your advantage, because eventually, that will change and their market value will catch up with their real value, and when it happens, you will be very much glad that you bought them when they were cheap.

Today, I came up with a list of 13 such cryptocurrencies — cryptos that I believe can do a lot better than how they are currently doing, regardless of the market situation. So, if you are out for ideas, here are our suggestions.

1. Polygon

Polygon is not only underrated in regards to its price, but it recently opened its doors to the projects which are trying to escape Terra’s crashing ecosystem.

Polygon is a provider of scalability solutions for Ethereum, and as such, it is a perfect place for dApps and DeFi protocols. While it saw great advancements in terms of its own development, its decision to adopt “refugee projects” from Terra will give it numerous new projects and use cases.

2. Decentraland

This is one of the oldest, if not THE oldest metaverse project, and as such, it is pretty much the Bitcoin of the metaverse sector. Not only does it have the first-mover advantage, but it also has a well-developed network and digital world that has already seen a lot of usages.

In Decentraland’s metaverse, users can purchase their own plot of land through NFTs, and use it for whatever they want, from game and software development to organising virtual events. It was already used for this, most notably by the Australian Open, which organized a virtual version of the events accompanying its famous tennis tournament for those who could not attend in person due to COVID-19 restrictions.

3. Band Protocol

Next is Band Protocol, which is a project that features a decentralized oracle network. Similar to Chainlink, the project has a major advantage that lies in the fact that it runs on Cosmos’ network. Chainlink, on the other hand, runs on Ethereum, which means that it also struggles with the network’s lack of scalability.

Oracle networks are important for the blockchain because they allow smart contracts to receive information from a variety of sources from outside of the blockchain industry. This is important as this data needs to be delivered to smart contracts, so that they would know when the terms of the contracts have been met, and whether or not they should self-execute. And, since Band can function faster and be cheaper than Chainlink, it has the potential to replace it sometime in the future, or at least, to become equally big and appreciated.

4. Basic Attention Token

This is a native cryptocurrency of the Brave Browser — a browser created with the idea of giving users the power to decide whether or not they will watch ads. Essentially, the developers grew tired of advertisers bombarding people with ads whenever they wanted to, so they created a project that blocks all ads, and only shows them to users if they choose to see them.

Of course, no one would choose to watch ads without some sort of incentive, and Brave Browser provides it in the form of BAT tokens. The goal here is to revolutionize advertisement and to connect companies advertising their products to potential buyers while cutting out middlemen who take all the money for themselves.

5. Dogecoin

Dogecoin’s story is well-known in the crypto industry. It was created in 2013 as a joke crypto, and while even its creators expected it to quickly disappear, it managed to become the favorite coin of the crypto industry and survive for 9 years now. Not only that, but it blew up last year and hit a brand new ATH in early 2021.

However, since then, the entire wave of memecoins emerged and tried to replace DOGE, and while one (Shiba Inu) briefly managed to do it, DOGE still got back to being the leading memecoin. Still, DOGE is the oldest and the original memecoin, and coins such that rarely get replaced, which is why I believe that DOGE will remain the “top dog.”

6. STEPN

This is an NFT token that offers users to purchase NFTs representing digital sneakers. In doing so, and then simply walking or running, users will be generating cryptocurrency for themselves, and earning while living a healthy lifestyle.

STEPN is the first project that managed to combine crypto and exercise in such a unique and fun way, which is why we believe that it has great potential to stick around and see high levels of popularity, as the market continues to learn about it.

7. Waves

This is a project that you might not have expected to find on this list, considering that it entered quite a difficult period some two months ago when its stablecoin lost its peg and the entire project suffered. However, its developers recently published plans for Waves’ revival, which is why we believe that buying it now could be extremely profitable if the plan works.

Of course, I cannot confirm that it will work, and that’s where the gamble lies. 

8. MyNeighborAlice

MyNeighborAlice is a metaverse game based on blockchain technology. MyNeighborAlice is a game inspired by a popular game called Animal Crossing. The game allows users to purchase digital islands in the form of NFTs. They can then use the islands to harvest various resources and use those to build items, decorate their island, and alike.

Players can even earn crypto by completing daily tasks, participating in contests, and the best part about the project is that it was specially made so that even non-blockchain users can use it without ever coming into contact with the blockchain directly. All purchases are done through a character called Alice, which makes the entire project very user-friendly.

9. Ertha

Ertha is another metaverse project that offers a virtual version of the planet Earth. It is split into 350,000 equal plots called HEXes, and by purchasing a plot, players become a part of the region in which the HEX is located. That means becoming a part of a certain country and then taking up one of many roles in that country.

This is essentially a game, but it requires users to really think about governing their HEX, as well as the country to which that HEX belongs, and consider economical, military, research, and other aspects. As a disclaimer, HEX has frequently been the subject of criticism and skepticism, with many believing it to be a scam.

10. Ethereum Name Service

Ethereum Name Service is an interesting project that aims to transform the current crypto addresses — which are readable to machines but represent just a string of letters and numbers to humans — into something that humans can read and understand.

This will be crucial in making the crypto industry more user-friendly, and finally achieving the old promise of making crypto payments as easy as sending an email.

11. Filecoin

Filecoin is a project that intends to use blockchain technology to provide safe and private digital storage. The project wishes to offer a decentralized alternative to existing cloud services that are user-friendly, but not privacy-friendly. After all, the companies that offer modern-day clouds have full access to the data stored within, and users need to trust them that they will not collect it and use it in some way.

Filecoin offers a trustless system where the data stored by users gets encrypted and split into several pieces and then stored across the network of nodes for the safety of information.

12. Golem

Golem is a Swiss-based project that was intended to act as the first proxy-free, censorship-resistant environment for computer-intensive projects that would serve users all around the world. After a while, the team realized that it needs to create better architecture and provide users with a new type of development platform, with limitless possibilities.

In 2020, the team also got a task to build a brand new protocol, architecture, and codebase, and so today, it is a project that fosters a global group of creators building ambitious software solutions that will shape the technological landscape of future generations by accessing computing resources on its platform.

13. Cardano

Cardano is an underrated coin despite its high position thanks to its massive market cap, because the coin got a number of new use cases following the launch of smart contracts in late 2021. However, its price never got the growth it deserved, despite a spike in the number of projects, developers, and users, as the bear market hit only a month after that.

Cardano is a project that has massive potential, but at the same time, it likes to take things slow, which is why it has great value as a long-term investment.

Conclusion

The list above contains some of the best projects that are currently underrated and undervalued, and while I have great expectations of them, there are two things to remember — one, that these are not the only such projects out there, and two, that there is no guarantee that they will truly skyrocket. We have seen projects like Terra lose everything due to a single mistake, so there is no guarantee that any crypto will survive. But, I believe that these are some of the projects that have that potential, and if their time comes, you will be glad you bought them.

 

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The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

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What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

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