Opportunities Amid Market Downturn?盘点 8 Strong Tokens You Should Watch
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Opportunities Amid Market Downturn?盘点 8 Strong Tokens You Should Watch
The market has dropped sharply recently; have you been bottom-fishing?
Navigating Web3 tides with focused insightsAuthor: ROUTE 2 FI
Translation: TechFlow
Introduction:
In this article, crypto analyst ROUTE 2 FI dives deep into eight cryptocurrencies worth watching in the current market. Despite an overall bearish trend, the author believes these tokens have recently demonstrated strong momentum and are worth close attention from investors. The article not only provides detailed insights into each coin but also explores their potential within the market and future growth prospects.
Main Content:
With the recent market downturn, did you take the opportunity to buy the dip?
I added to my Ethereum position, even though the price dropped immediately after I bought—uncomfortable in the short term, but I still believe in long-term investing principles.
Over the past few months, we’ve seen massive price increases (and demand) for many tokens. By now, we’re all probably wondering: which coins should I add to my portfolio?
Today, I’ll detail eight tokens that I believe showed strong momentum before the pullback. This is not financial advice—you should always manage your own risk and be responsible for your capital.
Manta ($MANTA)
Manta is essentially a blockchain protocol designed to provide decentralized data security and anonymity solutions. It integrates with multiple blockchains such as Ethereum and Polkadot, enabling users to securely store and share data using data masking and anonymization techniques.
Manta also offers high scalability and low transaction fees—issues that Ethereum has struggled with for years. Some even refer to Manta as a Swiss Army knife in terms of data privacy and performance.
How does it work? It’s a platform allowing developers to build and deploy ZK applications on Ethereum at low cost. ZK-proofs ensure data privacy and validity. Manta enjoys strong backing from prominent investors including Binance, Polychain, ParaFi, and Hypersphere, along with a growing ecosystem of partners aiming to deploy on its scalable and secure Layer-2 solution called Manta Pacific.
As institutional capital enters crypto and anticipation builds around Ethereum ETF approvals, privacy may become the next major narrative. Manta isn’t just another cryptocurrency—it’s a gateway to a world of accessible, efficient, and secure applications.
A key factor to consider: the first token unlock will occur in September 2024, meaning there has been no investor allocation so far. Given current trends in ecosystem airdrops, this could further strengthen Manta’s value proposition.
To learn more about Manta, click here to read my previous article.
Ondo Finance ($ONDO)
Ondo Finance is an emerging giant in the real-world assets (RWA) space, backed by renowned investors like Founders Fund, Pantera, and Coinbase. $ONDO is leading the RWA narrative with over $200 million in assets under management, capturing a significant share (around 40%) of tokenized securities. With partnerships across Mantle, Solana, and Polygon, they appear to be on the right path toward sustained growth. $ONDO offers several interesting products, including OUSG (tokenized BlackRock ETF), OMMF (tokenized BlackRock money market fund), USDY (U.S. Treasury-backed stablecoin), and Ondo Bridge.
The development of $ONDO and the broader RWA narrative will be fascinating to watch in the coming months. Consider their market stats: as of January 22, 2024, the market cap stands at $370 million, with a fully diluted valuation (FDV) of $2.5 billion. Their first unlock is 12 months away, already listed on Coinbase, and they boast $150 million in total value locked (TVL)—clearly positioning us as early participants.
Cartesi ($CTSI)
Cartesi is no newcomer to the crypto space. In 2023, we saw Cartesi release numerous impressive updates and developments—but now it’s 2024, so let’s assess what they’ve achieved and whether they’re reinforcing their reputation as consistent builders.
In short, Cartesi brings unique value to crypto, such as mainstream developer toolchains and computational scalability. An exciting update is that the Cartesi team will host a BUIDLathon hackathon with a $15,000 prize pool, where developers can leverage its technology to create fully decentralized apps using familiar programming stacks and libraries.
As the L2 narrative continues heating up, $CTSI seems poised to grow even stronger as more developers turn to its tech. This is something I’ll be watching closely. Cartesi’s staking is also notable, with a large amount of $CTSI staked—over 40% participation. Staking enhances the security and efficiency of the Noether PoS system and rewards users holding $CTSI.
Moreover, one main reason I bought this token is because it was recommended by the founder of Celestia.
A great feature of $CTSI is the near absence of future unlocks, resulting in an FDV-to-market-cap ratio close to 1:1. We can expect no sudden sell-offs, and given the team’s continuous development efforts, it's exciting to imagine how far they might go from their current relatively modest $185 million market cap.
Dusk ($DUSK)
$DUSK is essentially privacy meeting compliance—a unique Layer-1 blockchain tailored specifically for finance. A key reason to consider Dusk: it achieves privacy through zero-knowledge proofs (ZK-proofs), aligning perfectly with the ZK narrative.
Dusk was built from the ground up, ensuring full control over security, native compliance features, and performance optimized for financial use cases. As a Layer-1, Dusk makes no compromises on decentralization or security—critical for trust in financial systems. Unlike L2 solutions that rely on the security of another chain, L1s like Dusk are self-sufficient, offering greater integrity.
Dusk is also the first L1 with built-in privacy, where every wallet, transaction, and smart contract remains confidential. It uses a custom virtual machine to handle private transactions and notably complies with EU regulations such as MiCA, MiFID, and GDPR.
Given the recent stellar performance of $Mina in the ZK space, expectations that $DUSK could follow suit are not surprising. $DUSK has no large upcoming token unlocks—in fact, 100% of its supply is already in circulation.
Restake Finance ($RSTK)
At its core, $RSTK is an enhanced version of liquid staking. As an LSD, users can stake ETH to earn PoS rewards while maintaining access to their staked ETH via LSTs (liquid staking tokens)—in this case, rstETH.
rstETH can then be used across other protocols to earn additional yields. Now consider EigenLayer—an innovative protocol allowing ETH validators to earn extra rewards by restaking on modules built atop Ethereum.
Understanding EigenLayer dynamics is crucial because $RSTK’s reward structure works as follows: users earn native ETH rewards via PoW mechanisms, while rstETH accrues additional yield through EigenLayer, which can be withdrawn via dApps. This rstETH can also be used for lending, borrowing, and yield generation—essentially earning ETH returns without being locked up.
$RSTK is also the first project on EigenLayer with its own token, pioneering the restaking narrative with a native rewards system. Despite huge market demand and interest over the past month, the token faced selling pressure due to lack of immediate product availability. Overall, demand for $RSTK remains extremely high. If the team delivers, we could see tremendous growth potential ahead.
OrdiSwap ($ORDS)
While $SAVM captured most of the hype in January, OrdiSwap has been quietly building—launching its mainnet AMM on native Bitcoin. I firmly believe the current price doesn’t reflect its fundamentals.
Technologies like $SAVM and $ORDS are paving the way for DeFi on Bitcoin. Specifically for $ORDS, total value locked (TVL) is growing rapidly. For comparison, think of it as Uniswap on Bitcoin—an idea with immense potential, not to mention its excellent UI/UX that allows users to view top tokens, TVL, and fee analytics. OrdiSwap has the potential to become the leading AMM on Bitcoin and a foundational player in Bitcoin-based DeFi, suggesting its value should rise accordingly.
PYTH ($PYTH)
PYTH is an underappreciated price oracle—rivaling $LINK—but with a fully diluted valuation (FDV) of just $4 billion. Amid recent buzz around ecosystem airdrops, there’s speculation that $PYTH holders might qualify for upcoming token distributions. At its core, PYTH is a price oracle delivering some of the best market data available. $PYTH is widely adopted across numerous non-token projects, including popular ones like Drift Protocol, Parcl, MarginFi, and Zeta. Drift Protocol has even hinted at an airdrop, so although nothing is confirmed, rumors suggest $PYTH holders may benefit. Why is this a strong buy signal? Because of both the speculation around $PYTH holdings and airdrops, and the fact that it’s severely undervalued compared to its rival $LINK. Notably, $PYTH is also natively integrated with $SOL, benefiting further from Solana’s momentum.
Overall, $PYTH currently looks attractive to buy, with analysts setting price targets over 50% above current levels. That said, a major unlock is scheduled for May 20, 2024, when 21.3% of the supply will enter circulation. A smart strategy might be to buy $PYTH now, stake it, and revisit months later.
Sei ($SEI)
At its core, SEI is a Layer-1 blockchain redefining scalability and efficiency through parallel computing, leading the narrative on parallelized EVMs. Over the past 30 days, SEI’s price surged an astonishing 200%.
Parallel computing is the central concept behind this narrative—it involves using computational resources simultaneously to solve problems. In simple terms, it allows multiple transactions to be processed in parallel, significantly boosting blockchain throughput. In standard EVMs, transactions are processed one after another in a single-threaded model, whereas parallel VMs like $SEI break down tasks to enable concurrent processing. This improves scalability, efficiency, and optimization. As the market becomes saturated with new rollups and global fee issues persist, the focus may shift from L2-centric models to parallelized EVMs. $SEI appears to be a beta version of $SOL’s cycle. Additionally, another highly anticipated parallel VM project, $MONAD, is also nearing launch! $SEI had an $89 million unlock on January 15; the next unlock is far off, the dip has already occurred—now may be the time to start accumulating slowly.
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