Investors and traders are always on the lookout for massive gains and coins that will turn a small outlay into a huge return.
Despite the ongoing bear market and crypto winter, some coins have offered extremely impressive ROIs this year and could yet offer more profits in the coming weeks and months.
6 Cryptocurrency to Invest in for 10x Returns – Top Picks
Here are 6 pics for coins that could make big gains by the end of 2022:
Ethereum (ETH) – Top Altcoin with Major Upgrade Pending
Terra Classic (LUNC) – Phoenix Coin with Huge Momentum
Vita Inu (VINU) – Lightning-Fast Meme Coin
1) Tamadoge (TAMA) – Best Overall Project for Top Gains
Tamadoge is a new meme coin project that appears set for big returns before the end of the year.
Currently enjoying a very successful presale ICO, with $11.5 million in investment already secured, Tamadoge will soon sell out its presale token allocation and hit the open market.
A listing on centralized exchange LBank is already confirmed and the project continues to make waves on social media, with nearly 100,000 followers across platforms.
The TAMA token powers the Tamaverse, with holders of the token able to mint NFT pets at the end of the year – those pets can then be used in a play-to-earn game for rewards.
Holders of the pets will be able to feed and care for them – just like 90s craze Tamagotchi – and grow them into adults where they can battle other players.
The pets will later turn from 3D to augmented reality as the project looks to offer a meme coin with long term value.
Furthermore, TAMA has a limited max supply of just 2 billion tokens – compared to, for example, Dogecoin’s unlimited supply and current circulation of 130 billion – with a 5% burn mechanism in the pet store.
Once TAMA hits exchanges it is expected to earn early investors big returns.
After listing on decentralized exchange PancakeSwap, the native IBAT token pumped as much as 700%, while listings on CEX LBank saw another 200%.
The token has since dropped in price but found strong support and looks primed for another pump, especially with listings on other centralized exchanges in the near future.
Battle Infinity is an ecosystem that offers holders value through a number of ways, with the project building a metaverse and gaming platform as well as offering holders the chance to swap and stake tokens on their own DEX.
The flagship of the project is the IBAT Premier League a fantasy sports game, currently based on cricket, that is expected huge take up when it launches.
3) Lucky Block (LBLOCK) – Market Leading NFT Competition Platform
Lucky Block is the market leading competition platform that offers holders of its NFTs the chance to win unparalleled prizes.
Current competitions include the chance to get your hands on $1 million of Bitcoin or a $300,000 Lamborghini among other prizes.
Lucky Block recently released its LBLOCK V2 coin and saw prices surge more than 400% after listing on CEX LBank.
A listing on Gate.io was meant to see the price jump even higher but a technical glitch by the exchange saw market makers set their own price and the value of the coin drop off.
However, LBLOCK looks in a strong position to recover as an unvervalued crypto and could be set for a break out soon.
The project also announced that holders of the original LBLOCK V1 coin – which attracted 12% transaction fees – can convert to V2 (0% fees) when the bridge goes live on October 3.
4) Ethereum (ETH) – Top Altcoin with Major Upgrade Pending
This is hardly the boldest pick on the list with Ethereumalready firmly cemented as the top altcoin in the space.
However, one there is one major reason for all the continued excitement around ETH – The Merge, arguably the most anticipated event in crypto of the last decade.
The protocol will finally switch from a Proof-of-Stake (Pos) to Proof-of-Work (PoW) algorithm this month – due September 19 – which will make ETH more efficient, scalable and secure.
While there could be an initial sell off, with investors and traders ‘buying the rumour and selling the news’, ETH is expected to make serious returns in the mid to long term.
Numerous analysts also point to the The Merge as being the major reason why ETH can finally ‘flip’ Bitcoin and replace it as the top cryptocurrency in the space.
Cryptoassets are highly volatile and unregulated. No consumer protection.Tax on profits may apply.
5) Terra Classic (LUNC) – Phoenix Coin with Huge Momentum
The long-term viability of Terra Classic may be in question but right now LUNC holders are enjoying an incredible ride.
The coin, which is the same as the one which totally collapsed from $80 to fractions of a cent when UST was de-pegged earlier this year, has already seen gains of more than 250% in the past month.
It not only has name recognition and listings on all the major exchanges already, but LUNC has a fanatic community that is determined to bring the coin back to its former glory.
LUNC has also introduced a burn mechanism (1.2%) and staking to reduce supply and increase value. However, there are a number of questions over the future of this project, so approach with risk.
The supply (6 trillion) may be too large for the burn and staking mechanisms to make any impact, while community growth could wane – just as it did with DOGE last year.
Further, the Terra founders are now working on Terra 2.0 which will could eventually take some shine away from LUNC.
Cryptoassets are highly volatile and unregulated. No consumer protection. Tax on profits may apply.
6) Vita Inu (VINU) – Lightning-Fast Meme Coin
Vita Inu has experienced a major pump in recent days and although that may slow down in the immediate future, VINU offers an intriguing use case that could see it compete with top dogs Dogecoin and Shiba Inu.
VINU claims itself to be the fastest and most efficient meme coin on the market and, if its claims are to be believed, blows DOGE and SHIB out of the water.
According to the Vita Inu website, VINU can process transactions 4 million times quicker than DOGE – meaning while a single DOGE transaction can take up to five minutes, VINU is done in less than a second.
Further, VINU has zero transaction fees (compared to up to $0.20 for DOGE and up to $20 for SHIB) and also has an extremely small carbon footprint for green-minded investors.
One downside to the project, however, is the tokenomics with the VINU supply at 1 quadrillion (1,000,000,000,000,000). There is a burn mechanism but it will be a while before demand catches up to supply.
How to Invest in TAMA – Full Guide
Below is a full layout on how to buy our top pick for a crypto that could 10x soon:
Step 1 – Download MetaMask
Tamadoge (TAMA) is currently in its presale phase and cannot be bought with fiat currency or on an exchange.
Potential investors must first download a crypto wallet – MetaMask is a free and user-friendly example.
Step 2 – Buy ETH
There are a couple of ways to buy ETH.
The first and simplest is to buy ETH directly on the Tamadoge website, via Transak, using a debit or credit card. Connect MetaMask and simply press ‘Buy ETH with Card’ then follow the instructions.
Alternatively, ETH can be bought on a crypto exchange and then sent to MetaMask or bought directly on MetaMask, again with Transak.
Step 3 – Convert ETH for TAMA
If you bought ETH on the Tamadoge website then simply click ‘Convert ETH for TAMA’ and enter the required amount – note there is a minimum purchase of 1,000 TAMA and gas fees will apply.
If you did not, then connect MetaMask to the Tamadoge website and follow the instructions on screen.
After this, the TAMA tokens will be sent to the MetaMask wallet.
Step 4 – Claim TAMA
Once the transaction is complete, TAMA tokens will be stored on the Tamadoge website until the presale is finished.
Once that is over simply click ‘Claim’ and the TAMA tokens will be transferred to MetaMask.
The market is currently in a news-driven environment where the prices of cryptocurrencies have been determined by news agenda rather than fundamentals.
Bitfinex analysts have warned crypto investors to be cautious as bitcoin’s (BTC) recovery over the weekend is not a sign that its correction is over; the asset could witness more bloodshed in the near term.
In the latest Bitfinex Alpha report, experts deemed the market’s reaction this week critical, especially as supply alleviated over the weekend could return when traditional markets open.
“No Man’s Land”
Since Saturday, bitcoin has risen almost 10% from $57,600 to $63,000, closing last week in the green. The asset has surged above the 125-day range low of $60,200, which it broke through earlier this month after news of the German government’s massive BTC selling hit the market.
Market sentiment began to improve after reports that wallets linked to the German government were almost empty. However, the positive sentiment may not be sustained for long as the BTC the German authorities moved to trading desks and exchanges are yet to be sold.
While the supply from Germany appears to have been factored into bitcoin’s market price, Bitfinex analysts believe the end of selling pressure depends on how the involved trading desks execute their trades in the coming days.
Although the shift in sentiment underscores the market’s capacity to integrate new information and adjust expectations quickly, analysts think the market’s reaction over the first two trading days of the week cannot be overlooked for two reasons.
First, the low support level in the $60,200 range has now become a potential resistance line. Second, trading patterns over the past three months suggest that weekends are usually favorable for markets, especially on Saturdays when supply pressure seems to subside.
“We are now in no man’s land until we get clear resolution above or below this level,” the analysts said.
A News-Driven Environment
Besides the potential resistance level and three-month weekend trading pattern, the market is currently in a news-driven environment, where the prices of cryptocurrencies have been determined by news agendas rather than fundamentals.
Since selling pressure concerns are not yet completely obsolete due to upcoming Mt Gox creditor distributions, Bitfinex analysts expect such headlines to continue to have some impact on price movements. As such, the analysts urged investors to exercise caution in their trading strategies.
BlackRock’s IBIT led with $117.25 million in inflows on July 15, also being the most traded Bitcoin ETF.
The US spot Bitcoin ETFs recorded a daily net inflow of $301 million on July 15th. This extended their winning streak to seven consecutive days amidst a broader market recovery.
None of the ETFs recorded outflows for the day.
Bitcoin ETFs Rake in $16.11B in Net Inflows Since Jan
According to the data compiled by SoSoValue, BlackRock’s IBIT, the top spot Bitcoin ETF by net asset value, recorded the largest net inflows of the day at $117.25 million. IBIT was also the most actively traded Bitcoin ETF on Monday, with a volume of $1.24 billion. Ark Invest and 21Shares’ ARKB came in close behind with net inflows of $117.19 million.
Fidelity’s FBTC experienced net inflows of $36.15 million on Monday, while Bitwise’s BITB saw $15.24 million in inflows. VanEck’s HODL, Invesco and Galaxy Digital’s BTCO, and Franklin Templeton’s EZBC funds also recorded net inflows. Meanwhile, Grayscale’s GBTC and other ETFs, such as Valkyrie’s BRRR, WisdomTree’s BTCW, and Hashdex’s DEFI, registered no flows for the day.
A total of $2.26 billion was traded on Monday. The trading volume for these ETFs was less than in March when it exceeded $8 billion on some days. Meanwhile, these funds have collectively attracted $16.11 billion in net inflow since their January launch.
What’s Next For Bitcoin?
Earlier this month, bitcoin’s price decline was mainly due to fears of massive selling pressure from Mt. Gox and the German government’s BTC sales.
But the assassination attempt on pro-crypto former US President and presumptive Republican candidate Donald Trump at Saturday’s rally seemed to spark a recovery in the world’s largest digital asset, and experts are bullish on the asset’s price trajectory going forward. Bitcoin surged more than 9% over the past week and was currently trading slightly below $64,000.
Veteran trader Peter Brandt discussed bitcoin’s price outlook, suggesting a potential major rally. He referred to a pattern he terms “Hump->Slump->Bump->Dump->Pump” and highlighted that the July 5 double top attempt was a bear trap, confirmed by the July 13 close. He sees a likely continued upward trend but warned that a close below $56,000 would negate this bullish view.
“Bitcoin $BTC could be unfolding its often-repeated Hump…Slump…Bump…Dump…Pump chart construction. Jul 5 attempt at the double top was a bear trap, confirmed by Jul 13 close. Most likely scenario now is that bears are trapped. Close below $56k negates this interpretation”
PeckShield alert reveals LI.FI’s protocol vulnerability is similar to a March 2022 attack, with the same bug recurring.
The decentralized finance (DeFi) platform LI.FI protocol has suffered an exploit amounting to over $8 million.
Cyvers Alerts reported detecting suspicious transactions within the LI.FI cross-chain transaction aggregator.
LI.FI Issues Warning After $8 Million Exploit
LI.FI confirmed the breach in a statement on July 16 via X: “Please do not interact with any http://LI.FI powered applications for now! We’re investigating a potential exploit.” The team clarified that users who did not set infinite approval are not at risk, emphasizing that only those who manually set infinite approvals seem to be affected.
According to Cyvers Alerts, more than $8 million in user funds have been stolen, with the majority being stablecoins. According to on-chain data, the hacker’s wallet holds 1,715 Ether (ETH) valued at $5.8 million and USDC, USDT, and DAI stablecoins.
Cyvers Alerts advised users to revoke relevant authorizations immediately, noting that the attacker is actively converting USDC and USDT into ETH.
Crypto security firm Decurity provided insights into the exploit, stating that it involves the LI.FI bridge. “The root cause is a possibility of an arbitrary call with user-controlled data via depositToGasZipERC20() in GasZipFacet, which was deployed 5 days ago,” Decurity explained on X.
“In general, the risks behind routers, cross-chain swaps, etc. are about token approvals. Raw native assets like (unwrapped) ETH are safe from these kinds of hacks b/c they don’t have approvals as an option. Most users & wallets also no longer do “infinite approvals” which gives a smart contract total control on removing any amount of their tokens. It’s important to understand which tokens you’re approving to which contracts.
This dashboard looks for all transactions of a user that intersects Lifi. Not all of these transactions indicate risk- but you can see how, broadly, integrations & layers of tech (like how Metamask bridge uses Lifi on BSC) can complicate how users do or don’t put their assets at risk. Revoke Cash is the most well known approval manager app.
But it’s also good security practice to simply rotate your address. New addresses start with 0 approvals, so starting fresh by moving your tokens to a fresh address is another good security practice.” – commented Carlos Mercado, Data Scientist at Flipside Crypto.
Recent Exploit Mirrors March 2022 Attack
Further analysis by PeckShield alert revealed that the vulnerability is similar to a previous attack on LI.FI’s protocol that occurred on March 20, 2022. That incident saw a bad actor exploit LI.FI’s smart contract, specifically the swapping feature, before bridging.
The attacker manipulated the system to call token contracts directly within their contract’s context, making users who had given infinite approval vulnerable. This exploit resulted in the theft of approximately 205 ETH from 29 wallets, affecting tokens such as USDC, MATIC, RPL, GNO, USDT, MVI, AUDIO, AAVE, JRT, and DAI.
“The bug is basically the same. Are we learning anything from the past lesson(s)?” PeckShield Alert said in a July 16 X post.
Following the 2022 incident, LI.FI disabled all swap methods in its smart contract and worked on developing a fix to prevent future vulnerabilities. However, the recurrence of a similar exploit raises concerns about the platform’s security measures and whether adequate steps were taken to address the vulnerabilities identified in the previous breach.
LI.FI is a liquidity aggregation protocol that allows users to trade across various blockchains, venues, and bridges.
