Summary

The article provides a curated list of altcoins for investors to consider buying during market dips, with a focus on high-conviction and speculative picks, and includes insights on the potential impact of upcoming crypto developments.

Abstract

The author, Sovereign Crypto, emphasizes the importance of having a well-researched altcoin shopping list in anticipation of a possible early-stage bull run in the crypto markets, driven by the imminent approval of spot Bitcoin ETFs. The article categorizes altcoins into high-conviction and speculative investments, with Rollbit ( $RLB), Immutable X ($ IMX), BEAM ( $BEAM), Solana ($ SOL), Arbitrum ( $ARB), and Polygon ($ MATIC) listed as high-conviction choices. Speculative altcoins include Shrapnel ( $SHRAP), Frax Share ($ FXS), and RocketXExchange ( $RVF). The author also mentions honorable mentions such as Lava ($ LAVA), Thorchain ( $RUNE), GameSwift ($ GSWIFT), and Neutron ($NTRN), which are under consideration for future investment. The piece concludes by advising investors to remain patient, conduct thorough research, and let investment opportunities come to them during periods of market calm.

Opinions

The author believes that the approval of spot Bitcoin ETFs will significantly influence the trajectory of crypto as an asset class, leading to increased passive capital inflows and institutional adoption.
Rollbit ($RLB) is seen as a top GambleFi coin with strong revenue and improved tokenomics due to its shift from a burn mechanism to a revenue share mechanism.
Immutable X ($IMX) is considered the leading GameFi project and benefits from its position as an ETH layer 2, with a significant catalyst expected from its upcoming Immutable zkEVM in partnership with Polygon.
BEAM ($BEAM) is noted for its plans to migrate to the Polygon supernet tech stack and its strategy to use its treasury for buybacks and burns during the bull run.
Solana ( $SOL) is recognized as a major competitor to Ethereum but is currently viewed as overvalued, with other coins like$ MATIC and $IMX offering better bull run prospects.
Arbitrum ($ARB) is highlighted for its strong metrics as an ETH L2 but is critiqued for its tokenomics and inflation; however, it is expected to benefit from the coming ETH and L2 narrative.
Polygon ($MATIC) is highly regarded for its underestimated Polygon 2.0 tech stack, which is expected to create a scalable L2 on Ethereum with global liquidity.
Shrapnel ( $SHRAP) and Frax Share ($ FXS) are noted for their potential in the AAA Web3 gaming space and stablecoin market, respectively.
RocketXExchange ($RVF) is touted as a strong competitor to RUNE, offering cross-chain aggregation with low fees and no KYC.
The author expresses a need for further due diligence on honorable mentions like Lava ( $LAVA), Thorchain ($ RUNE), GameSwift ( $GSWIFT), and Neutron ($ NTRN), which have caught their interest for potential future investments.
The overall investment advice is to remain emotionally balanced, avoid rash decisions during market lulls, and prepare for opportunities by researching and building a solid investment list.

Buy the Dip — Altcoin Shopping List

Altcoins to Buy on any Upcoming Dips

The recent calm in the crypto markets seems very much like the infamous quiet before the storm. We crypto natives collectively sit with baited breath as we await what may be one of the most impactful developments in crypto’s short history: the spot Bitcoin ETF approvals.

Recent discourse between the SEC and various spot Bitcoin ETF applicants makes it clear that they are in the final inning of that discussion, where details are being solidified that will inevitably (and shortly) yield the approval of those ETFs. Whether final approval comes by the Jan 10th deadline, or in the following weeks is ultimately irrelevant, as the effects of spot ETFs on the trajectory of crypto as an asset class cannot be overstated. Passive capital inflows form retirement accounts, institutional adoption, small family office access and so much more.

In times like these it is particularly important to build a solid Altcoin shopping list. If you have been reading my articles for some time, you have undoubtedly built a solid portfolio in anticipation of this early stage bull run. Whether you have a bull run-ready portfolio or not, are just entering the markets, or have some missed opportunities you lament, having a well researched Altcoin shopping list is a prerequisite for catching the dips and asymmetric opportunities that are a hallmark of the crypto markets.

Altcoin Shopping List — BTFD!

The last few months of crypto have been quite frothy, and if you are of the same mindset as I am, a short term dip may well be on the horizon. That said, as an investor with a longer term view, selling my conviction plays at a time like this is not an option.

So it is that I have built a short altcoin shopping list for coins I either missed, would like a larger bag of, sold a portion of for profit, or simply find overvalued but very interesting. In other words … a buy the f’ing dip shopping list.

High Conviction Altcoins:

Rollbit ($RLB): Current $0.136, Buy Target: < $0.10–0.12

Rollbit is the top GambleFi coin out there. It has monster revenues, great (and improved) tokenomics, and has taken a fairly large dip already from its recent high of roughly $0.25. The recent conversion from a burn mechanism to a revenue share mechanism is also a big improvment for already solid tokenomics.

Immutable X ($IMX): Current $2.27, Buy Target: <$1.75

Immutable X is the top GameFI project bar none. As an ETH layer 2, it also benefits from what I believe will be a very hot narrative in early 2024: ETH and ETH L2s. I have set an aggressive dip target as I already have a large bag, and as such you may want to revise your target slightly higher.

The coming Immutable zkEVM in partnership with Polygon and using POL 2.0 tech stack will be a huge catalyst, and move IMX to the next level. This is one of my higher conviction plays.

BEAM ($BEAM): Current $0.018, Buy Target: <$0.014–$0.015

BEAM is currently an AVAX subnet, but has plans to migrate (expand) to the Polygon supernet tech stack next year. It is a gaming focused subnet (L2) that has a huge treasury which will be used to buy back and burn BEAM as the bull run progresses and their investments turn some profits. BEAM deep dive here

Solana ($SOL): Current $104, Buy Target <$80–85

SOL has had a massive run-up, and is proving to be the top “competitor” to ETH. That said, the increase in price has been a tad too quick and too high, and has created an imbalance where there are other bets I believe have better bull run prospects at the time of writing.

For clarity, I believe SOL still has a 7–10X potential this bull run, however there are coins like $MATIC, $IMX and others that have substantially better prospects. As such, I sold most of my SOL bag and rotated into some of these plays, but would look to buy back in IF prices should near the $85 price level again.

Arbitrum ($ARB): Current $1.53, Buy Target <$1.30 — $1.35

Arbitrum is the 3rd largest chain by TVL (not incl Tron) with $2.4B in TVL, and the top ETH L2 by almost every metric. It beats Solana on every metric except daily volume of transactions, where it is a very close 2nd. Yet it has a less that $2B market cap as compared to Optimism with $3.3B and Polygon with almost $9B. There is a huge price discrepancy here, and although I am not a fan of their tokenomics and inflation metrics, the coming ETH and L2 narrative could send $ARB on a moon mission.

Polygon ($MATIC): Current $0.97, Target Buy +/- $0.80

Polygon 2.0 is being way underestimated by the markets. The supernet tech stack will create an L2 on ETH with global liquidity, huge scalability, and easy integration with existing L2s and otehr chains. The tokenmomics are also phenomenal. I have already added a huge bag, and will look to add on dips in early 2024. Deep dive on Polygon 2.0 here

Speculative Altcoins:

Shrapnel ($SHRAP): Current $0.30, Buy Target $0.20–0.22

Shrapnel is one of the hottest up and coming AAA Web3 native games. It is currently based in the AVAX ecosystem, and has some serious potential with a plethora of big name backers, investors and team members. SHRAP had recently had a significant run-up, but has since pulled back and looks to be settling down.

Frax Share ($FXS): Current $8.95, Buy Target +/- $8.00

Frax is a liquid staking derivate and Stablecoin behemoth. Apart from DAI, it is one of only a handful of decentralized stablecoin issuers with adoption. They also have V2 being launched in the coming few weeks, along with FraxChain (which admittedly I will need to deep dive on for additional clarity). Lots of short term catalysts. I am hoping to add to my small bag of Frax in early Q1 2024.

RocketXExchange ($RVF): Current $0.68, Buy Target +/- $0.45

I have talked about RVF ad nauseum, but with good reason. $RVF is a RUNE competitor that is able to aggregate both CEXs and DEXs cross chain with excellent low fees … without KYC. Unlike RUNE, it does not have its own liquidity pools, but rather aggregates all the other sources and is able to natively trade cross chain for 90% of tokens, alts included.

Honorable Mentions:

These are coins on which I will be performing additional due diligence in the coming weeks with a goal to add buy targets for my Altcoin Shopping List. These are predominantly coins I missed out on, or have very small bags of and would like to increase my exposure to.

Lava ($LAVA — Current $0.056): Vulcan forged related coin for their native AVAX subnet. Very interesting gaming integrations and potential.
Thorchain ($RUNE — Current $5.25): Top cross chain atomic swap protocol that is gaining huge traction. This is an Altcoin I missed out on. The potential on RUNE is huge, and the revenue share could be quite tasty if volume continues to grow.
GameSwift: ($GSWIFT — Current $0.58): GSWIFT is a one-stop shot gaming studio and gaming payment gateway. This is also one I missed the boat on, and for which I am looking to grab a bag as a central gaming Altcoin.
Neutron ($NTRN — Current $1.10): Neutron is a new dedicated L1 in the Cosmos ecosystem. The ATOM main chain is unable to process complex smart contract interactions as it is effectively just a consensus base layer. Neutron aims to be the execution layer for the Cosmos ecosystem. It is effectively the new application layer that, if successful, will connect the massive but fragmented Cosmos ecosystem and has a much better chance to accrue value from Cosmos adoption than the ATOM token itself.

Conclusion:

Navigating and investing in the cryptosphere is often an emotional balancing act: avoiding FOMO, controlling fear, and ignoring the noise. The most difficult emotion to manage, however, is inevitably boredom. When the markets are quiet and stagnant, and the best move is no move at all, we often feel the pull to DO something.

Now is very much one of those times, and the best move is to research and build your Altcoin shopping list and keep the buys and sells to a minimum. Let the opportunities come to you, rather than grasp at straws in an effort to create them.

Good luck out there, and see you on the next one!

Sovereign Crypto

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Referral Bonuses/Codes:

Cross Chain Swaps & Bridge: RocketX Exchange: https://app.rocketx.exchange/?ref=LG5RWYCO
Best Exchange (non-us): Swissborg https://join.swissborg.com/en/r/alexanLHJA
Best Exchange (US & Others): Kraken (no code yet)
Perpetuals DEX: Level Finance https://levelling.io/p77a

Disclosures:

I own or am accumulating the above mentioned tokens/investments.
Not financial advice.

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