KEYTAKEAWAYS
- Aerodrome, positioned for a potential 10-15x increase, leverages its role as a primary liquidity provider on the Base platform.
- io.net utilizes surplus GPU power for AI applications, supported by top networks, with potential growth up to a $25 billion market cap.
- Mode Network offers scalable DeFi solutions on Optimism, aiming to boost its market cap from $180 million to $1-2 billion.
CONTENT
CoinRank examines 3 altcoins—AERO, IO, and MODE—poised for growth. Discover why these cryptos present promising investment opportunities in June.
INTRODUCTION
Cryptocurrency markets are known for their wild swings, and the not so long ago Bitcoin selloff is no exception. Yet, for the first time since 2020, there’s compelling evidence of an altcoin season emerging—a rare occurrence that typically coincides with a parabolic bull market. In this article, CoinRank spotlights three altcoins, AERO, IO, and MODE, primed to capitalize on this unique opportunity.
>>> Read more about altcoins:
3 CRYPTOS TO CONSIDER
1. AERODROME (AERO)
Aerodrome is a leading decentralized exchange (DEX) on the Base platform, serving as its primary liquidity provider, a role that positions it strategically for the upcoming crypto cycle. The project has been consolidating at a strong support level of 86 cents and recently surged to around $1.15, driven by the Ethereum ETF approval.
Despite its price being half of its previous high of $2.30, Aerodrome’s fundamentals remain robust with a total value locked (TVL) of $700 million. Historical comparisons with PancakeSwap on Binance Smart Chain, which saw its market cap soar from $200 million to $6 billion, suggest significant growth potential for Aerodrome.
Currently valued at approximately $400 million, projections using a trend-based Fibonacci extension indicate that Aerodrome could reach up to $5.50, representing a potential 10-15x increase from its current price.
This makes Aerodrome a compelling investment opportunity as it is poised to benefit from the positive market dynamics and the increasing adoption of the Base protocol.
2. IO.NET (IO)
io.net is an innovative project that leverages GPU power for AI applications, providing affordable and scalable computational resources. This advanced decentralized computing network aggregates GPUs from underutilized sources like independent data centers, crypto miners, and projects such as Filecoin and Render, offering extensive computing power at significantly lower costs than centralized services.
Supported by prominent networks such as Solana, Aptos, and Render, io.net enjoys financial stability and enhanced credibility. With the global demand for computational power expected to increase tenfold every 18 months, io.net is well-positioned to capitalize on this trend.
The upcoming launch of its IO coin in Q2 2024 will serve as the primary mode of payment within its ecosystem, rewarding GPU owners and streamlining model training. Projected to launch with a market cap of around $500 million, io.net could potentially reach $10-25 billion in a bullish market.
>>> Popular memecoins on Solana and other chains:
3. MODE (MODE)
Mode Network is a DeFi Layer 2 project built on top of Optimism, launching its token, MODE, on May 7th. As part of the Optimism super chain, Mode aims to enhance scalability and usability, boasting impressive metrics with half a billion dollars in total value locked (TVL), 10 million transactions, and over 300,000 users.
Mode’s modular architecture, supported by funding from the Solana Foundation, allows seamless integration across various blockchain ecosystems, adding to its versatility. The tokenomics of MODE include a total supply of 10 billion tokens, with 1.3 billion initially unlocked, and uses spanning governance, incentives, and ecosystem growth.
Initially projected to have a market cap of around $180 million, Mode has the potential to grow to $1-2 billion, offering substantial returns to investors.
>>> Check out these cryptos with high return potential:
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