Nowadays, cryptocurrencies are in great demand worldwide. After a crypto crash, which took place at the end of May 2021, most coins were able to recover and currently are in a strong upward trend. In addition to well-known cryptocurrencies such as Bitcoin or Ethereum, numerous new cryptocurrencies and altcoins are also considered worthwhile.
This also includes cryptos that are actually still considered to be undervalued. These cryptocurrencies could have great growth potential, and accordingly, could be extremely interesting for investors. So let’s take a look at the top 3 most undervalued cryptos: DeFi Coin (DEFC), Solana (SOL), and Theta Fuel (TFUEL).
DeFi Coin (DEFC)
A DeFi project that has attracted attention in the last few weeks is called DeFi Coin. DEFC is a native token of the DeFi Coin protocol, which aims to make DeFi projects more attractive and to increase the acceptance of NFT networks and tokens. In the future, the platform will allow exchanging cryptocurrencies with other users in a decentralized manner and without intermediaries.
DEFC is based on the Binance Smart Chain. The token is used to implement the goals of the DeFi Coin protocol. These are static rewards, automatic liquidity pools, and strategies for coin burning. The team of experts behind DeFi Coin has many years of experience in the crypto industry. They strive to establish partnerships with large crypto companies in the future.
Solana (SOL) is a complex blockchain that supports smart contracts similar to Ethereum or Tezos. SOL is a cryptocurrency based on the Solana blockchain. It serves as a payment method for fees and can also be used for coin staking. Solana presented a new solution to the community to make a blockchain more decentralized. The PoH (Proof of History) system represents historical records of blockchain transactions to prove that transactions actually were conducted before being added to the distributed ledger. In addition, Solana can process around 65,000 transactions per second.
On the Solana blockchain, transactions are embedded with timestamps that help establish the sequence of events that were processed before the latest state of the blockchain is broadcasted to the whole network. Solanart is a new project of Solana. It’s possible to trade, exchange, and buy NFTs on the platform. Solana is currently ranked 10th in terms of market cap, but still has work to do.
Theta Fuel (TFUEL)
The Theta Network is a blockchain-based streaming platform. The goal is to enable decentralized online streaming where users can pay to watch other people’s streams. The network uses 2 cryptocurrencies: THETA and Theta Fuel (TFUEL). Theta Fuel is a streaming platform’s operational token, which shouldn’t be confused with a THETA governance token. Still, both have great growth potential. TFUEL is primarily used for microtransactions and other network operations.
Theta Fuel (TFUEL) should also act as an incentive for all those users who actively use THETA.tv. Because with the use of the platform you receive TFUEL as a reward. In June 2021, Theta Network expanded its functionality by including NFTs and enabling smart contracts on the platform. We think that this crypto has great potential — the token is now ranked 68th in terms of its market cap and was able to gain 28.71% in price in the past month.
What other undervalued cryptocurrencies do you know? Feel free to share your knowledge in the comments. Have a great weekend!