• Last week, the crypto market roared back to life with most coins and tokens producing double-digit returns for investors, leading many to believe that a bull run is on its way.
• Savvy investors are scouring the market for altcoins that can potentially explode in value in the weeks ahead.
• The total cryptocurrency market cap exceeded $1.2 trillion on Friday and investor sentiment is firmly in “Greed” territory.
Crypto Market Flourishes
Last week was an excellent week to be a crypto trader, with most coins ending in the green. Bitcoin ($BTC) was among the biggest gainers, rocketing by 16%, while Ethereum ($ETH) also soared by 11%. Other altcoins, like Solana ($SOL) and Cardano ($ADA), experienced more modest price increases yet still set the stage for an extended upwards push in the short term. Data from CoinMarketCap reveals that the total cryptocurrency market cap exceeded $1.2 trillion on Friday – the first time this milestone had been breached since the beginning of May.
Institutional Interest Growing
The bullish momentum has also been fueled by increasing institutional interest in cryptocurrencies – particularly amongst traditional finance firms like Goldman Sachs and JPMorgan Chase who have started offering crypto-related services to their clients. This influx of capital from big institutions has encouraged more people to enter into crypto trading and has helped to drive prices up even further as demand continues to surge throughout 2021.
Searching for Undervalued Coins
With investor sentiment so high, many within the investment community are now searching for undervalued coins that could explode in value once a new bull run begins. One such coin is Unifi Protocol (UNFI). Unifi Protocol is an upcoming decentralized protocol focused on creating an open marketplace where users can buy and sell digital assets without having to trust a third party platform or custodian. The presale of UNFI tokens began last month and quickly sold out due to strong demand from early adopters; however, it hasn’t received attention from mainstream media outlets yet which makes it a potential gem of opportunity for investors looking for undervalued cryptos before prices start skyrocketing again soon.
Unifi: A Promising Project?
Unifi Protocol seeks to provide users with access to various financial instruments such as margin trading, derivatives markets, lending platforms, staking pools, insurance products and more while also allowing them to buy/sell digital assets without having to trust any centralized platform or custodian – all through its own native token UNFI which will be used as both a utility token as well as collateral within its network of protocols and applications. Not only does it aim at making these services available but it also seeks to increase efficiency by reducing transaction costs significantly compared with current centralized solutions (which typically charge exorbitant fees). Moreover, Unifi aims at becoming interoperable with other DeFi protocols via its own Liquidity Sharing Network (LSN). All this makes Unifi an incredibly promising project which could be poised for massive gains if/when another bull run kicks off soon given its current relative obscurity in comparison with other top DeFi projects like Aave or Compound Finance (COMP).
Conclusion
The crypto market appears primed for another bull run given recent price action across major coins/tokens along with growing institutional interest & investor sentiment firmly entrenched in “Greed” territory according CoinMarketCap & Crypto Fear & Greed Index respectively; however savvy investors are already scouring through lesser known altcoins looking for hidden gems before they skyrocket once again when conditions become right – one such coin being Unifi Protocol (UNFI) whose presale last month saw strong demand yet still remains relatively unknown compared with other top DeFi projects like Aave or Compound Finance (COMP).