A popular crypto analyst is ranking Cosmos (ATOM) and Algorand (ALGO) among his top five altcoins to invest in during a recession.
In a new interview with Altcoin Daily, the pseudonymous host of Coin Bureau known as Guy says the decentralized parallel blockchain network Cosmos is high on his list due to its high staking rewards and strong development team.
“I’d be very quick to jump on [ATOM]. I think it’s an amazing project. I love Cosmos. I love this idea of interoperability. There’s some really cool tech there. There’s a great team behind it and also, I must say, a really good community behind Cosmos as well… There are some amazing returns on staking ATOM at the moment.”
At time of writing, Cosmos is changing hands at $9.12.
He next picks the Ethereum (ETH) rival Algorand, saying the blockchain is putting itself in a strong position for the next crypto bull market.
“Algorand is a really interesting potential play for the next bull market. I think we could see a lot of really cool, really interesting, really successful projects develop in its ecosystem during that time. I think it has a good shot as one of these non-EVM (Ethereum virtual machine) chains as well. I think that positions it really, really well. There seems to be a lot of developments and strong community behind ALGO.”
At time of writing, ALGO is switching hands at $0.170.
He also picks the decentralized data storage network Arweave (AR).
“Arweave is a project I really, really like. I think it’s got an amazing use case. Again, amazing tech and team. So a lot of those fundamentals match up for me.”
At time of writing, AR is swapping hands at $6.62.
Guy shifts his focus back to Cosmos to select from projects built on its blockchain, either Osmosis (OSMO) or JUNO (JUNO), for inclusion on his top five list.
Osmosis is an automated market maker protocol built on Cosmos software development kit (SDK) that aims to allow participants to create liquidity and seamlessly trade the cryptocurrencies they hold that are inter-blockchain communication (IBC) protocol compatible. Meanwhile, JUNO is a proof-of-stake blockchain designed to serve as a cross-chain smart contract hub for the Cosmos ecosystem.
At time of writing, OSMO is valued at $0.745 and Juno at $1.18.
Lastly, Guy puts in his top five Aave (AAVE), the popular decentralized finance (DeFi) lending and borrowing platform.
“I think DeFi’s time is going to come again. I think DeFi is going to be a big narrative of the next bull market. AAVE is a really well-established project. The fundamentals are in place there. And I think it’s one of these ones that’s definitely going to stick around, definitely going to be one of the survivors of this bear market.”
At time of writing, AAVE is changing hands at $55.67.
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Featured Image: Shutterstock/Layne Harris
Source: https://dailyhodl.com/2022/12/27/coin-bureau-names-top-altcoins-to-invest-in-during-a-recession/