The recent decline in the crypto market has many investors searching for answers and new opportunities

This article delves into the major elements contributing to the market's downturn and reveals promising altcoins that could help rebuild portfolios

The recent decline in the crypto market has left many investors searching for answers and, more importantly, new opportunities. As the dust settles and the major elements of the market’s downturn become clearer, the focus is shifting towards promising altcoins that could help rebuild portfolios by year-end.

While Bitcoin's (BTC) price action and the overall market trends are crucial for the broader picture, individual cryptocurrencies are also presenting interesting investment narratives.

Major elements of market downturn

The crypto market experienced a downturn in 2022, driven by several key factors. The macroeconomic environment, with rising inflation and interest rates, had a significant impact, leading to a decrease in risk appetite among investors.

This was further amplified by the collapse of FTX, a major cryptocurrency exchange, which resulted in a loss of investor confidence and a sell-off in the market.

However, despite the downturn, the crypto market is known for its resilience. As the macroeconomic outlook improves and the dust settles on FTX, the stage is set for a recovery in the coming months, presenting an excellent time to identify promising altcoins.

Jupiter (JUP) Could Be the Hidden Gem in the Next (LON:NXT) Altcoin Season

Jupiter (JUP) is a cryptocurrency that could be a hidden gem in the next altcoin season. The coin is still in the early stages of development, but it has already attracted a loyal following.

Jupiter is a Layer-1 blockchain that is focused on providing a scalable and sustainable ecosystem for decentralized applications (dapps). The coin's unique selling proposition is its emphasis on interoperability, aiming to connect different blockchains and enable seamless asset transfer.

Moreover, Jupiter is designed to be energy-efficient, a factor that is becoming increasingly important to environmentally conscious investors.

The coin's community is also a key strength, with members actively contributing to the project's development and promoting its adoption. As the coin's narrative and utility continue to unfold, it could emerge as a promising addition to investment portfolios by year-end.

KAS: A Hidden Gem Ready to Shine in the Next Altcoin Season

Another coin that could be a good investment opportunity in the next altcoin season is KAS. This coin is still relatively unknown, but it has the potential to rise rapidly in price.

KAS is a Layer-1 blockchain that is focused on providing a high-throughput and low-latency platform for financial institutions. The coin's unique selling proposition is its ability to process a large number of transactions per second, making it suitable for institutions that require fast and efficient transactions.

In addition, KAS is designed to be compliant with regulations in multiple jurisdictions, a factor that could attract institutional investors who are mindful of regulatory requirements.

The coin's community is also actively involved in developing and promoting KAS, further enhancing its potential for the coming months.

As the macroeconomic outlook improves and the dust settles on FTX, the stage is set for a recovery in the crypto market. This presents an excellent time to identify promising altcoins, and Jupiter and KAS are two coins that could be worth considering for year-end investment opportunities.

As always, it is important to conduct thorough research and due diligence before making any investment decisions.

The macroeconomic outlook is improving, with inflation showing signs of easing and major central banks hinting at a pause in the rate-hiking cycle.

This shift in the macroeconomic environment could lead to increased risk appetite among investors, potentially boosting demand for crypto assets.

Furthermore, the dust is settling on the FTX saga, with new management at the crypto exchange focusing on recovery and rebuilding trust with investors.

This development could also contribute to a return of investor confidence in the crypto market.

The combination of a better macroeconomic outlook and improving market sentiment presents an excellent time to identify promising altcoins.

While Bitcoin's price action and the overall market trends are crucial for the broader picture, individual cryptocurrencies are also presenting interesting investment narratives.

For instance, the narrative around new, fast-moving altcoins could be a factor in the market's recovery, especially if the macroeconomic outlook continues to improve, leading to increased risk appetite among investors.

However, it's important to remember that the crypto market is constantly changing, and any investment carries risk. It's crucial to conduct thorough research and due diligence before making any investment decisions and to invest only what you can afford to lose.

The major market trends and the performance of specific cryptocurrencies suggest that the potential for recovery and new investment opportunities in the remaining months of the year is a possibility.

The complete article is available on CCXV.

The post 2 promising altcoins to watch as year-end approaches appeared first on Crypto Daily.

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