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Top Crypto Gems for May (Part 2)

Altcoin Buzz has always been a market leader in recommending altcoins poised to grow in the future. Since we are heading to a new month, it’s time to look at some blockchain-based projects with the potential to generate profit for investors. April turned out to be a great month for Ethereum since it made a new high of $2,798. Altcoins also had momentum throughout the month. These altcoin gems followed the lead of their bigger brother, ETH. This trend is most likely to continue in May. 

This article is part two in our series of the best altcoins to invest in May. You can read part one of our May crypto gems here.

Lisk

Lisk is a decentralized computation platform that originated from a fork of Crypti. Crypti is a JavaScript-based platform for developing dApps – by which Lisk intends to broaden the accessibility of blockchain technology. Programmers can build white label sidechains and customize them with their tokens without writing a single line of code. Moreover, developers can design an interface in an optimal environment. It enables them to test, deploy, and promote applications from the Lisk sidechain.

LSK is the utility token that users can utilize to pay for transaction fees on the Lisk blockchain. Since the platform implements a delegated proof-of-stake (DPoS), every LSK holder can vote for mainchain delegates to secure the network. Moreover, developers can use LSK tokens to cover the cost of developing the Lisk network. 

Lisk is expected to unveil a new blockchain interoperability solution on May 21, which will further boost the value of LSK tokens. Some notable recent developments include: merging the Lisk Explorer features with a desktop wallet, releasing a new mobile wallet version, and joining the Crypto Open Patent Alliance. 

Price: $5.37
Market Cap (May 1,202): $771,881,552
CoinGecko ranking: 123

Litentry

Litentry is a cross-chain data aggregator built on Substrate featuring a credit computation network and a decentralized identity (DID) indexing mechanism. It creates a privacy-preserving, transparent, and secure method to aggregate data and verify identities. 

LIT is the native utility token that holders can utilize throughout the Litentry ecosystem. Users can pay LIT as fees for requesting a real-time credit computation on the network. Holders can also stake LIT to become an identity registrar and use it as collateral for DeFi lending and borrowing services. 

To further enhance its ecosystem, Litentry has collaborated with a Polkadot-based stablecoin called Standard Protocol. The platform has also partnered with a sidechain relayer network known as Injective, as well as a data and finance cloud platform called Cere.

Price: $9.20
Market Cap (May 1,2021): $165,637,806
CoinGecko ranking: 303

Dafi

Dafi is the first protocol that enables all networks to create staking, liquidity, and bounties proportional to the demand. Any blockchain-based decentralized platform can use Dafi to create a synthetic flavor from the native token, thereby creating long-term users for liquidity. In doing so, the platform is laying a new foundation for building decentralized economies.

Its native token, DAFI, is used for both governance and staking. When a user stakes DAFI as collateral, the network generates synthetic dDAFI units pegged to the demand.  Moreover, DAFI token holders get to vote on the updates/changes required on the Dafi ecosystem. 

The value of a token can be gauged through its list of partnerships. Lately, Dafi collaborated with MakerDAO, Elrond, Xend Finance, and Reef Finance to boost the project’s adoption. 

Price: $0.075643
Market Cap (May 1,2021): $16,224,733
CoinGecko ranking: 908

Fractal

Powered by Polkadot, Fractal is an open-source protocol designed to replace the ad cookie to enable users to take control of their data. The platform creates the technical framework and market dynamics required to fairly exchange user information in the ad market. Fractal also ensures rewards to the verifiers. They can be publishers, ad networks, ad exchanges, etc. 

FCL is the native token of Fractal protocol. It can be used by advertisers to pay for bid prices and staking in the ad escrow. Verifiers and insurers can also stake FCL in the arbitrage escrow to earn rewards. Platform users can pay attesters for their credentials in FCL tokens. 

Getting approval for a prestigious Web3 grant helps Fractal legitimize its part in the Polkadot Venture Network. The support from Gavin Wood – the founder of the Web3 Foundation and the co-founder of Ethereum – can play a prominent role in its price rally in May. 

Price: $0.706894
Market Cap (May 1,2021): $32,151,051
CoinGecko ranking: 689

Labs Group

LABS is the world’s first end-to-end blockchain-powered real estate investment ecosystem that aims to solve the liquidity issues crippling the real estate market. It intends to provide an investment opportunity for retail and accredited investors in a compliant manner by fractionalizing the real estate assets and through crowdfunding.

At the heart of LABS’ ecosystem group lies the $LABS utility and governance tokens. They can be used for governing the LABS protocol, accessing real estate investment, getting discounts on transactions, nominating projects for investments, and staking to earn rewards. 

In its recent achievements, LABS has secured funding from the YBB Foundation and partnered with Enjin, Centrifuge, RioDeFi, Polkacover, and MantraDAO. Moreover, the platform will use the latest mania of crypto space, non-fungible tokens (NFTs), to represent the physical asset, which will create perpetual value for investors and buyers.

Price: $0.038
Market Cap (May 1, 2021): $38,323,822
CoinGecko ranking: 644

AIOZ 

AIOZ is a blockchain-based content delivery network (CDN) aiming to improve the streaming experience of internet users. The network utilizes the redundant storage, memory, and bandwidth resources shared by the users to build an affordable and open-source video infrastructure for developers to create dApps and media content delivery platforms.

$AIOZ is the native token of the AIOZ Network that will be available on both the Ethereum and Binance Smart Chain platforms. In addition to rewarding edge nodes for their work with $AIOZ, the token will also be used to reward content creators for adding content and content consumers for their attention. 

The platform recently achieved a significant milestone of reaching more than 20,000 network nodes across the world. Moreover, AIOZ boasts of a community of more than 50,000 members and a recent partnership with Big Cat Entertainment. These factors have positioned AIOZ Network to blow over the competition.

Price: $1.30
Market Cap (May 1,2021): $72,846,054
CoinGecko ranking: 473

Conclusion

Given how far and fast Ethereum has moved in April, it makes more sense to consider either of these altcoins for investment as each one has a unique purpose for the blockchain technology.  However, as the saying goes, high returns are associated with high risk. So, do your own research before investing in the above-listed projects. 

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

The post Top Crypto Gems for May (Part 2) appeared first on Altcoin Buzz.

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