As the entire crypto market continues to be in what has been mostly a bull market for the past four weeks, the crypto community is ecstatic to see what February brings and which cryptocurrencies have the most potential to see a huge surge.
The world’s largest cryptocurrency has been seeing some cool bullish action. After breaching $23,000 sometime a week ago, the king coin came down below the support level and staggered around $22,500 for a couple of days, but as of the time this article was written, BTC has once again crossed over to $23,090, as it makes it way to $25,000.
Analysts continue to be pessimistic, and Bitcoin continues to prove them wrong. Recall that BTC left 2022 hovering around $14,800, therefore it has increased by around 40% in just four weeks. On-chain signals have mostly been bullish throughout the month, and they remain so even at press time. I’d say Bitcoin has the most potential for massive growth next month as adoption continues to be on the rise.
It is worth mentioning that ADA is the best-performing crypto among the top 10 over the past week. The Hoskinson-founded token has risen by 4.2% in the last twenty-four hours, bringing its price to $0.398 at press time and it seems to be heading directly for $1. While I can’t say for sure that the key level will be breached in February, ADA does show signs of massive growth over the coming month.
Over the past thirty days, MATIC has increased by nearly 45%, from $0.7 to $1.12 at press time. The token has a lot of potential for huge growth in the near future as on-chain signals and analyses indicate a bullish run for the token.
Like Bitcoin, Ether has also been maintaining strong bullish movements. Although the largest altcoin has been lounging at the comfortable resistance level of $1,500 the entire month, several analysts seem to believe ETH will spike to $3,000 or more before the middle of the year. Notably, the token has increased by 36% in the past thirty days seeing as it bid farewell to 2022 at barely $1,200. Before the end of February, the token has the potential to surge past $2,000.
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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
As the crypto market remains relatively volatile, predicting which coins will experience a massive growth can be hard to predict. However, with careful analysis and understanding of the development, intrinsic use cases and potential ETF approvals, there are certain coins that have the highest potential for huge gains in February.
In terms of potential for growth, the crypto market is full of surprises. Such surprises could come from either new advancements on particular coins, more investors entering the market, or potential-filled events related to digital asset market like ETF proposals getting approved.
Among the coins with promising potential for immense growth in February are Ethereum (ETH), Cardano (ADA), Tezos (XTZ) and Polkadot (DOT). Ethereum is the world’s second-largest cryptocurrency, and while it has had its fair share of consolidation over the past few months: Ethereum recently announced its much-anticipated 2.0 upgrade with ‘eth2’. This upgrade was designed to transition the Ethereum blockchain away from Proof-of-Work (PoW) to a different consensus mechanism called Proof-of-Stake (PoS). Moreover, the Ethereum network has also planned to roll out initiatives such as sharding, which could solve the blockchain’s scalability issues and further increase the demand for Ether.
Cardano is a third-generation blockchain protocol and one of the top 10 cryptocurrencies. Cardano is scheduled to launch “Shelley,” a project that will increase decentralization, security and scalability. This upgrade was designed to make Cardano more efficient and diversify its development team. The Shelley upgrade may incentivize more stake pools to join the network and increase the liquidity volumes of the ADA token.
Tezos (XTZ), the blockchain protocol with self-amendment capabilities, is also expected to experience huge gains. The XTZ platform can now take on more user-initiated projects and increase the overall liquidity of the coin. Moreover, XTZ commands the fourth highest active user base of over 600 technology firms and venture capital funds, with the same number of nodes running. This ensures that the XTZ platform is seen as trustworthy, and can grow its user base with fewer chances of a price crash.
Finally, Polkadot (DOT) is another crypto with huge potential for February. The new multi-chain technology is expected to overhaul the decentralized economy, launch numerous use cases and services, and its capabilities are quickly gaining market traction. Polkadot cryptocurrency has shown consistent growth since January, and its community is gradually increasing across the globe.
These are some of the top cryptos that could see massive growth in the months ahead. Investors should, however, do their own research and consult with a knowledgeable financial advisor when making investment decisions.