With the bleeding cryptomarket still apparently far from recovery, many altcoins have shed so much in terms of value. If you are looking for investment opportunities, here are the top 3 undervalued altcoins based on fundamental analysis.
1. Cardano (ADA)
Cardano is down by more than 90% from its all-time high. As of press time, Cardano trades at $0.10. In terms of token utility, Cardano is a native token for the accounting layer. It is used for staking and value transfer in the network. There is also a Cardano treasury, which funds projects built on the ADA platform. In terms of roadmap integrity, Cardano released Shelley (MainNet 1.2) on time. The development team updates the system every four to six weeks, which means that the blockchain project is very active. There are also news of expansion and developments in different parts of the world such as Japan, Korea, London, Indonesia, and Thailand. Cardano is a good investment opportunity for long-term hold in terms of its fundamentals.
2. Nebulas (NAS)
Nebulas is currently trading at $1.94. It is down by more than 65% from its all-time high. Last July 2018, there have been much activity with Nebulas in terms of trade volume. In terms of token utility, Nebulas is a currency in the network with built-in incentive for developers, which means that dApp developers who build on the NAS blockchain are rewarded with NAS as a percentage of their dApp usage. It also has proof of devotion consensus reward similar to PoS but without monopolies. In terms of business development, the team behind Nebulas have recently made many partnerships and entries including Egretia, Deepcloud AI, and Certik. Nebulas could go a long way for long-term investments, and it is currently undervalued.
3. Zilliqa (ZIL)
Zilliqa is currently trading at $0.037 and is down by more than 70% from its all-time high. Last July 2018, trading value was high at almost 9%. In terms of token utility, the ZIL token in Zilliqa will have the exact same use as ETH in Ethereum. Zilliqa is soon to launch its MainNet with a testnet development currently on track as V2.0 was launched slightly ahead of schedule. The Zilliqa development team is also busy with multiple projects and partnerships in the pipeline. Zilliqa is a promising blockchain project that could potentially boom in the next coming months.
While these fundamentals provide positive news for these cryptocurrency projects, make sure to keep an eye on the technicals to better execute your trading plans.
(DISCLAIMER: This is not financial advice. The analysis and recommendations provided here are based on my own research and personal opinion. Trade wisely!)