For this November we have these three cryptos to buy to take advantage of the great rally that has been experienced in recent days. These three altcoins are having incredible results due to partnerships and underlying value. Let’s take a look at these undervalued cryptos.
Tezos (XTZ)
Source: RuskaDesign via Shutterstock
Tezos (XTZ-USD) stands out in the blockchain world as a network that evolves without the drama of hard forks, unlike Bitcoin (BTC-USD) and Ethereum (ETH-USD). It’s like a community-driven high-tech playground where XTZ holders can vote on interesting updates proposed by Tezos developers. The idea is to make it super secure and constantly upgradable so that it stays cutting-edge without causing headaches.
Imagine Tezos as a tech-savvy friend who is always ahead of the curve. They started outlining their plans back in 2014 and, after a bit of a wait, officially launched Mainnet in 2018.
Now, what makes Tezos even more interesting is their real-world impact. Recently, they joined forces with HomeDAO, an Oxford-based team that is creating a space for Web3 child prodigies. The Tezos Foundation chipped in to help them spread their wings to London and Cambridge, making the dream of common housing and workspace for Web3 enthusiasts a reality.
And if that wasn’t enough, they are also making waves in the art world. The famous French auction house Millon partnered with Bezos and Arteïa to use the magic of blockchain to verify the authenticity of artworks. It’s like giving art a digital passport that can’t be messed with, thanks to Tezos. It’s a sea change in the fight against art fraud, and other art giants, such as Galerie Christophe Gaillard, are also on board.
Filecoin (FIL)
Source: knipsdesign/shutterstock.com
Filecoin (FIL-USD) is like the superhero of data storage, whose goal is to protect and preserve humanity’s vital information. Imagine it as a decentralized storage system born in 2014 to complement the Interplanetary File System (IPFS). After raising an impressive $205 million in 2017, they finally launched Mainnet in mid-October 2020, offering an open-source haven where community members call the shots.
This digital guardian runs on FIL, its native currency, which powers the entire network. Users can store their data securely or earn a living by providing storage space to others. What’s interesting is that Filecoin addresses the inefficiencies of traditional file storage and retrieval by providing efficient tools and leveraging IPFS technology for a state-of-the-art experience.
In 3Q23, the number of active transactions increased by 45%, and storage utilization increased from 8% to nearly 13%. The Filecoin Virtual Machine (FVM) adds a touch of magic by introducing Ethereum-style smart contracts, paving the way for innovations like liquid staking and decentralized recovery.
But wait, there’s more! Filecoin’s Interplanetary Consensus (IPC) team is on a mission to revolutionize blockchain scalability. Imagine it as the web3 Avengers, offering subnetworks for scalable parallel blockchains, sub-second transactions and customizable WebAssembly runtimes. This cutting-edge technology positions Filecoin as a key player in reshaping decentralized platforms, ready to meet the challenges of social networking, gaming, entertainment and productivity tools.
Theta (THETA)
Source: Ewa Studio / Shutterstock.com
Theta Network (THETA-USD) is like a game changer in the world of video streaming. Launching in 2019, it’s not just a blockchain; it’s a community where users come together, sharing their internet power and tech skills.
What makes them special is their mission to solve the headaches of video streaming, such as pesky costs, outdated infrastructure and content creators not getting their fair share. Partnerships with giants like Google, Binance and Samsung show that this is not just a dream but a plan in the works. Its goal? A world where e-sports, music, TV and education blend seamlessly, making everyone happy.
News recently broke that DappRadar, the trendy app store, has launched a Theta validator node, an endorsement from the industry. The Theta family is growing, with diverse members including media giants, cryptocurrency projects and even regular folks.
And guess what? Google Cloud is joining the Theta party with a technology collaboration. They’ve teamed up to make videos even cooler by combining the stability of the cloud with the powerful Edge nodes. It’s like bringing the best of both worlds to your screen.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Gabriel Osorio is a former Goldman Sachs and Citigroup employee. He possesses discipline in bottom-up value investing and volatility-based long/short equities trading.
