September defied the seasonal trend and emerged in the green for Bitcoin and crypto. With a cool 7% gain, Bitcoin has re-entered the $60,000 territory and looks to consolidate above this range for further gains. Buoyed by recent interest rate cuts as well as the upcoming elections in the US, crypto is well-positioned to rake in more in October. However, geopolitical factors can add to short-term volatility as tensions in the Middle East escalate. The good news is that any additional pain will be short-lived as the Oct. to Dec. the quarter is usually exceptional for the asset class.
In this article, we will explore some emerging narratives and identify potential crypto gems that could yield good returns in the coming months. Remember, the crypto market is inherently volatile, and it’s crucial to conduct your research and understand the risks associated with each investment.
Layer 1s and Infrastructure – Medium/High Risk for Considerable Returns
Layer 1s and infrastructure form the backbone of Web3. We identify two Layer 1s that look promising this month.
NEAR Protocol (NEAR) is a layer-one blockchain that was designed as a community-run cloud computing platform eliminating some of the limitations that have been bogging competing blockchains, such as low transaction speeds, low throughput and poor interoperability. This provides the ideal environment for DApps with a developer-friendly platform. NEAR has registered an impressive 37% gain in a month and is currently among the top 20 crypto assets by market cap. It has the potential to do 6-8x over.
Phoenix (PHB) is a Layer 1 and Layer 2 blockchain infrastructure, empowering intelligent Web3 applications, focusing on the next generation of AI & Privacy-Enabled Web3 Apps. PHB operates on the BNB Smart Chain (BEP20) platform and is up 88% in a month. It has a market cap of $107 million today. It can potentially do a 10-12x over the next 12 months depending on the adoption of AI.
AI narratives – Medium Risk, High Returns
AI based projects have huge potential to grow in the upcoming bull run. This narrative is tied to the global adoption of AI tools including ChatGPT, Gemini etc. We picked three such projects today.
The Artificial Superintelligence Alliance (FET) is a crypto token associated with a collaborative initiative involving Fetch.ai, SingularityNET, and Ocean Protocol. This alliance aims to consolidate various AI-related tokens into a unified ecosystem, enhancing the development and deployment of artificial intelligence technologies. FET is up 36% in a month and is well positioned to do 5-7x over 12 months.
Bittensor (TAO) allows AI researchers to develop applications based on their ML models. Creators of digital commodities are rewarded in TAO. TAO has a 21 million supply cap similar to Bitcoin. Its ecosystem dynamics ensure that TAO is sought after. TAO is up an impressive 160% in a month. It can potentially do 6-9x over the next 12 months.
Arkham (ARKM) is a blockchain analysis platform that uses artificial intelligence (AI) to deanonymize the blockchain and on-chain data. The platform’s two main components are the analytics platform and intel exchange. The analytics platform covers analytics on various entities, exchanges, funds, whales and tokens. ARKM is up by more than 50% last month and can do 8-12x over 12 months if adoption picks up.
Memecoins of the month – High Risk, Considerable Returns
Memecoins continue to be in trend and are the first ecosystem to bounce back after a dip in this cycle. Though the risks are high, there is a considerable merit to allocate a minor portion of one’s portfolio in them. We pick two new winners in this space.
Popcat (POPCAT) is a crypto token that emerged from a viral internet meme featuring a cat named Oatmeal. The popularity of the meme led to the creation of the POPCAT token on the Solana blockchain. This token is up 155% in the last month.
First Neiro On Ethereum (NEIRO) is a newly-adopted Shiba Inu dog, by the same person who owned the dog behind the DOGE meme. NEIRO is 100% owned and managed with love by its community. NEIRO has just begun its journey with a 2,000% gain last month.
The Usual Coins – Lowest Risk, Decent Returns
It is prudent to pivot a majority of your crypto portfolio to the safest assets – Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). They are proven to build adoption by new investors in the space. Their returns will be less significant (3-6x) but they drive the narrative and volume in crypto.
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