Cryptocurrencies are among the riskiest asset classes in the market today. This is a market where double-digit fluctuations are common at any given time. However, even in this high-risk market, some cryptocurrencies carry an even greater risk than others due to their prevailing circumstances.
The good news is that such cryptocurrencies also have a huge growth potential if things go right. It’s a gamble that can lead to massive gains. At the moment, several cryptocurrencies hold such potential. Here are a few of them.
Celsius (CEL)
Celsius (CEL) has been facing many issues recently and is currently struggling with bankruptcy. This has seen the value of the Celsius token plummet in recent months.
However, today Celsius has shot up by over 20%, and the odds are that it could be headed higher in short to medium term. That’s because Celsius has announced a plan for recovery dubbed “Project Kelvin.”
If investors believe the plan can work, then you can expect Celsius to do well soon. FOMO could easily see Celsius rally by over 100%, especially if there is a broader market rally after the Ethereum Merge.
It’s a high-risk cryptocurrency but also one that has the potential to give you a significant return on investment.
Terra ClassicUSD (USTC)
Terra ClassicUSD (USTC) is a failed stablecoin that saw many people lose their life savings when the Terra ecosystem collapsed a few months ago. However, in recent weeks it has shown to be moving in tandem with Terra Classic (LUNC) price movements. In the latest LUNC rally, USTC rallied as well.
In essence, its failure as a stable coin aside, this cryptocurrency holds much potential for exponential gains if LUNC rallies again. While there is a risk of LUNC crashing, there is also a strong chance the recently introduced tax accelerating its token burn could help shore up the price.
Thanks to these two cryptocurrencies’ price correlation, such a rally gives USTC the potential to provide investors with double and even triple-digit gains in the short term.
ApeCoin (APE)
ApeCoin (APE) was one of the most popular cryptocurrencies in Q1 of 2022. However, it has since lost momentum. While this has a lot to do with the bear trend across the cryptocurrency market, it also faces risks related to Yuga Labs, the organization behind ApeCoin, and the Bored Ape Yacht Club NFTs. Yuga Labs is threatened by a class action lawsuit for what investors term as the improper promotion of NFTs.
The aggrieved investors are arguing that Yuga Labs has been using celebrity influencers to pump the prices of NFTs artificially. At the same time, Yuga Labs is embroiled in legal drama with an artist named Rydah Ripps.
With all these issues, the risks to Ape Coin are quite high since cryptocurrencies are in a bear market. However, it is essential to note that its association with one of the most famous lines of NFTs gives Ape Coin a huge potential for FOMO buying, especially if the broader market turns green. That’s why it is a cryptocurrency to keep an eye on today, despite the risks that come with it.