The market is heavily influenced by broader geopolitical and economic factors, particularly the ongoing tensions in the Middle East and upcoming U.S. economic data. Despite some minor price movements, Bitcoin hasn’t shown significant momentum, with key levels at $62,400 needing to be reclaimed for a bullish trend. However, if the price drops below $60,000, a further decline toward $58,000 is possible. But there is one question looming on everyone’s mind— is it the right time to buy altcoins? In the latest analysis by Altcoin Buzz, the analyst listed three high-potential infrastructure projects, poised to outperform Chainlink.
Altcoin 1: Cheqd (CHEQ)
Cheqd is focused on creating a decentralized infrastructure for identity management and data ownership. Frasier Edwards, Cheqd’s CEO, recently brought to attention the increasing demand for decentralized ID solutions, especially given the ongoing issues with data privacy and integrity. Cheqd aims to position itself as a leader in this sector by building use cases that demonstrate the value of decentralized identities.
Altcoin 2: Peak (PEAQ)
Peaq is a decentralized physical infrastructure network (DePIN) project that aims to reshape how data and Co-founder Leonard Doorlocker explained the importance of combining decentralized data control with privacy, which is essential for gaining higher adoption rates in Web 3. Peaq aims to leverage the growing demand for privacy-centric solutions to expand its reach.
Altcoin 3: Pyth Network (PYTH)
Pyth Network specializes in providing financial market data as a decentralized oracle, catering specifically to the needs of decentralized finance (DeFi) and real-world asset (RWA) trading. Pyth is strategically positioned to capture market share in DeFi and RWA sectors, given its importance of accurate and reliable data in a decentralized context. Its model allows for seamless asset transfers and trading across different platforms.
Source: https://coinpedia.org/news/three-game-changing-altcoins-to-watch-is-chainlink-losing-its-edge/