Top Analyst’s Altcoin Watchlist: Top Projects Primed for Growth in December as Bitcoin Surpasses $40k
As Bitcoin broke $40k, many are optimistic that December could see significant price increases across alternative cryptocurrencies or “altcoins.” Prominent crypto Twitter personality Thor⚡️Hartvigsen shared his watchlist of top altcoin projects he believes are primed for growth.
Frax (FXS) tops Hartvigsen’s list due to several major catalysts on the horizon. The launch of the Fraxchain blockchain with native support for the frxETH token is one big event. Frax is also set to undergo inflation halving and increase revenue sharing for staked FXS tokens.
Pendle (PENDLE) makes the list due to its steadily increasing total value locked (TVL) across decentralized finance (DeFi) applications. Recent venture capital interest and price action are positives as well. Hartvigsen predicts more integrated wallet support could drive the token higher.
Synthetix (SNX) is a pick due to its massive Andromeda upgrade. Key changes include migration to Optimism’s Layer 2, a new collateral type of USDC, and increased fee revenue sharing. These long-awaited updates could boost the project.
STEPN (TIA) has reach a $10 billion market cap but its token remains very liquid. As an exercise-based earnings app, STEPN continues attracting large user numbers who may inject capital. Its broad popularity could override downside from limited upside.
Pendle beta project Penpie currently controls large portions of PENDLE token emissions and TVL. As the protocol matures, this aligned ownership could translate to price support.
CowSwap (COW) may see gains as it enables transaction fee collection and uses the funds to purchase its native COW token. The model is similar to innovative DEX 1INCH, which has much higher market value, suggesting potential.
Dydx (DYDX) just launched its upgraded interface and is offering major liquidity mining rewards. In a volatile market, demand could rise for its derivatives products and trading revenue.
Solana (SOL) and Chainlink (LINK) round out the list as large established blockchains with upcoming catalysts like staking launches and network upgrades.
Rollbit (RLB) is a speculative pick with strange price action despite burns, possibly due to early investor or team selling. But dramatic upside could emerge if demand increases unexpectedly.
Read also:
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- Why Galaxy Fox Might Be The 100x Star in Play-to-Earn Crypto Presales
Overall this watchlist points to several DeFi and Layer 1 projects that lever major product updates or incentives around the corner that may excite traders looking for opportunites in the final month of 2023. Continued Bitcoin strength could fuel broader crypto gains industry-wide.
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