Cryptocurrency market witnessed a rollercoaster ride this week. Global crypto market cap surged to $1.77 Trillion but soon lost about $100 Billion before dropping to $1.67 Trillion. The rally of major cryptocurrencies including Bitcoin ($BTC) and Ethereum ($ETH) halted and took a step back. Amid such uncertainty, experts and crypto proponents are bullish on altcoins and believe they are about to fly.
The sentiment among the community across the crypto space is bullish and the majority believe that a crypto rally is imminent. However, the momentary volatility has kicked in and it made crypto asset prices take nosedive. Crypto analysts think that $BTC could see a support test at $38K-$40K before turning back and rallying again. Once it happens, investors may not get time to bag the altcoins with potential to grow multifold.
Common belief is that the next bull run will be focusing on utility tokens—the ones that are actually making change in the crypto and blockchain landscape. Unlike previous bull runs, this time it could be the utility tokens that truly serve a purpose, rather than those which pump out of FOMO.
Here are such tokens expected to surge up to 200% or more if the crypto rally triggers in 2024:
Morpheus.Network ($MNW)
Morpheus.Network ($MNW) is a handful of projects that serve purposes of generating constant passive income along with the potential to grow multifold. This time the possibility of the latter is high given the upcoming bull run focusing on utility tokens.
Morpheus.Network is a blockchain based supply chain middleware solution provider that focuses on making global trade efficient and transparent. It recognizes the inherent challenges of the supply chain and makes efforts to eliminate them.
Many prominent companies across the world saw the potential and got onboard. Coca-Cola, Gulftainer, Sobeys, Marsh Insurance and other similar companies fall under the Morpheus.Network’s clientele. In addition, it has been part of Google Accelerator Canada and Startup Founders Hub of Microsoft. Governments of Brazil, Uganda, and Argentina also partnered for the implementing blockchain solutions to their agribusiness.
Morpheus.Network offers to run masternodes for stability and efficiency of the supply chain platform. In return for their services, masternodes operator receives certain reward tokens. These nodes are similar to the traditional server on a decentralized network but focusing on enhancing supply chain capabilities.
Users can stake the tokens to operate nodes on the platform contributing to security and scalability. $MNW token is the native utility token of Morpheus.Network. It requires 1,800 $MNW tokens in exchange running a single node and the investor can have an annual percentage yield (APY) of up to 18%.
At present, $MNW price trades at $1 following a slight decrease of 3% in a week. The token has attained yearly high of $2.4 and if it is to hit the same price level, it is set to take a jump of more than 100%.
Chainlink ($LINK)
Home to a decentralized oracle network, Chainlink ($LINK) solves a major issue in the smart contracts. The blockchain based self executable set of codes, smart contracts, work perfectly well but lack when it comes to external data feeds. It could include real time information for executing the contract with proximity. Oracle fills the gap of real time information from the outside world to smart contracts.
Chainlink has made a name for itself across the industry for solving such a key issue. The native token $LINK serves as a utility token for the network that takes care of on-chain operations.
$LINK is trading at $14.8 following an increase of 2% in a day. The token has surged over 100% year over year and hence is in position to benefit from the coming potential crypto rally.
Stratis ($STRAX)
Stratis Network, developed by Stratis Group Ltd., is an enterprise-focused blockchain platform that utilizes the Bitcoin protocol as its foundation. It enables businesses to test, develop, and deploy blockchain-based applications without the operational overhead and security concerns of running their own networks. Stratis distinguishes itself by offering the flexibility to run permissioned, private side chains that interact with its primary chain, facilitating decentralized applications, smart contracts, and privacy tools.
The protocol has partnerships with companies like Microsoft and initiatives like sponsoring professional athletes contribute to raising awareness. The native token, $STRAX, plays a crucial role within the ecosystem, facilitating transactions and interactions on the Stratis blockchain.
Ongoing developments include interoperability with Ethereum, an Internet of Things (IoT) software development kit, a decentralized finance software library, and the launch of a decentralized autonomous organization, showcasing Stratis’ commitment to innovation in the blockchain space.
Currently $STRAX is trading at $0.9 after dropping 13% in a month. However, in a yearly time frame, the token has surged nearly 60%. Given the past performance, $STRAX could be expected to repeat the same in the future especially if the coming rally will be focusing on enterprise and utility tokens.
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