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3 Chinese Altcoins to Pump “the Hardest” Amid $142B Stimulus

source-logo  coinedition.com 04 October 2024 17:42, UTC

Analyst Nick Valdez has predicted significant growth for Chinese altcoins as China injects $142 billion into its economy. With the broader crypto market experiencing declines, this stimulus is expected to drive the next wave of growth in Chinese-linked cryptocurrencies, according to Valdez.

Valdez highlighted three Chinese altcoins with strong growth potential due to the economic stimulus: Conflux (CFX), Alchemy Pay (ACH), and Ontology (ONT).

Conflux: The “Chinese Ethereum”

Conflux, often called the “Chinese Ethereum,” has drawn attention for its rising market capitalization despite recent price dips. Valdez predicts that Conflux could reach a market cap of $10 billion as it improves its technology, particularly transaction speeds and compatibility with Ethereum’s virtual machine.

Though its price fell to $1.50 in 2023, Conflux has maintained higher market cap highs. Currently, 4.4 billion of its 5.5 billion tokens are in circulation. CFX trades at $0.1643, down 2.2% in the last 24 hours, but up 23.4% over the past year.

Alchemy Pay, which bridges traditional finance and cryptocurrency, also shows strong growth potential. With partnerships with major platforms like Binance and Huobi, its ability to facilitate crypto payments in real-world scenarios positions it well in the market.

Valdez estimates that Alchemy Pay could reach a market cap of $1 billion, with the potential to grow to $5 billion, especially since 81% of its tokens are in circulation. Currently, it trades at $0.0188, up 1.0% in the last 24 hours and 11.3% over the past month.

Ontology Set To Reach $2 billion market cap

The third altcoin is Ontology (ONT), a blockchain platform focused on decentralized identity and data sharing. With a current market cap of $161 million, Valdez believes Ontology could reach $2 billion or more, especially because of its focus on big data solutions.

Ontology is developing frameworks for distributed data exchange and identity management. Currently, ONT trades at $0.1757, up 2.5% in the last day.

Valdez noted that Ontology’s approach aligns with ongoing>Impact of China’s Economic Stimulus

China’s $142 billion economic stimulus package is expected to ripple across its markets, including cryptocurrencies. Analyst Rekt Fencer stated that this stimulus could lead to an altcoin season, which would particularly benefit Chinese-linked coins.

The video also references a recent 23% rise in the Beijing 50 index as a sign of increased economic activity, which is likely to have a positive impact on digital assets.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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