Bitcoin: Crypto hunting: Experts pick six tokens for strong returns

New Delhi: Cryptocurrency market began the year on a weak note, with top tokens taking a hit of up to 10 per cent, but witnessed strong rebound on the fourth day of the year. Major currencies were back in action with up to 2 per cent gains.
Despite the recent correction, investors are hunting for tokens that can reward them with hefty returns. To help in cherry picking, crypto experts have a few names on their cards for them:
Bitcoin (BTC)The traditional institutions like Fidelity and T Rowe Price are setting up funds in crypto-friendly jurisdictions. Suman Banerjee, CIO, Hedonova, a crypto hedge fund is observing a massive inflow of institutional capital into bitcoin at various levels. “A reduction of transfer activity and more conversions from stablecoins to Bitcoin indicate that people are holding it and not spending,” he added.

Avalanche (AVAX)“Avalanche is a smart contract-driven blockchain network that offers speed and compatibility, which makes it a strong choice with which to develop decentralized applications (dApps). Smart contracts are the protocol that help with verifying, facilitating, and enforcing the negotiation of a contract between two parties, which can process over 4,500 transactions per second ” said Raj A Kapoor, Founder, India Blockchain Alliance.
“The key trigger is compatibility. dApp developers generally leverage the Ethereum Virtual Machine (EVM) to create dApps on Ethereum, Avalanche on the other hand has the EVM operating on its blockchain,” he added.
Ethereum (ETH)Art has helped put NFTs (non-fungible tokens) on the map, opening up avenues to many more things. Banerjee of Hedonova is more bullish on Ethereum, compared to Bitcoin. “We think that NFTs are here to stay and will become the ‘ownership governance protocol’ on the blockchain. Ownership aspects for securities as well as physical properties will be built on the Ethereum chain,” he said.
Chainlink (LINK)It is an ethereum-based oracle network designed with the goal of improving smart contracts by automatically inserting real-world data into online systems. As the use of smart contracts has increased exponentially so has Chainllink’s value. Chainlink is an Oracle data provider that plugs into and has been partnering with projects across all blockchains.
Kapoor of India Blockchain Alliance said that in April 2021, Chainlink released a 2.0 version of its white paper that outlined new capabilities to the Chainlink network, including off-chain computation, crypto-economic staking, and privacy-preserving features – all features that attract users and developers making it a good bet for this year.
Worldcoin (WDC)This token is backed by large venture capitalists like A16Z and crypto behemoths like FTH and Sam Bankman. The USP of this coin in its applications in authentications and hence use cases in banking, insurance, cybersecurity. Banerjee said that to acquire this coin, users must complete a one-time verification via retina scan. “This opens up applications where authentication is required, opening up numerous use cases,” he said.
Solana (SOL)Solana rose to become the fifth largest cryptocurrency in the world in terms of market-cap, thanks to its 13,800 per cent rally in 2021. It is a low-cost platform and faster processing speeds, considered a major competitor to Bitcoin and Ethereum,
“As Solana becomes a mainstream name, I believe that it will soon start getting accepted as a form of payment at the same level as bitcoin and ether,” said Kapoor. There are going to be multiple crypto opportunities and projects that explode in value but they have to offer a unique solution that no one in this space is currently working on, he added.

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