Are These 2023 Altcoins the Secret to Getting Rich? Discover the Undervalued Gems that are Ready to Pump!

Chico Crypto discusses the cyclical nature of the crypto market, specifically focusing on the altcoin Synthetix and its upcoming release of cross-chain liquidity solution called Synthetix teleporters. He believes this will cause SNX to soar in value once again and climb Coingecko’s rankings. Chico Crypto also highlights the potential for NFTs to make a resurgence as technological innovation pushes them into their next paradigm, with projects such as MEZZ facilitating a DeFi interpretation of mezzanine finance that allows users to access liquidity and acquire NFTs or bundles of crypto tokens through bidding-backed collateral extension.

The More Things Change…The More They Stay the Same

As the saying goes, the more things change, the more they stay the same. This rings true in the world of crypto, especially in the crypto markets. While things may evolve and change, there are always major similarities from the past that influence the future. Understanding this feature and how to navigate it can be a significant advantage when it comes to finding altcoin winners and succeeding in the crypto space.

Cyclical Nature of the Crypto Markets

The crypto markets are cyclical in nature, mainly due to Bitcoin, whose market cycles occur in four-year time spans and act very similarly in each one. They heavily rely on the past to influence the future, which is also the case with altcoins and altseasons. Past happenings and narratives have an effect on future outcomes, and it’s important to pay attention to them.

Synthetix and the DeFi Ecosystem

Synthetix is a crypto project that has been innovating the DeFi ecosystem and had one of the most spectacular runs in 2020 amid the explosion of DeFi into the crypto mainstream. As of January 2021, Synthetix ranked #17 on Coingecko, up from #67 in November 2019. However, as the saying goes, the more things change, the more they stay the same, and Synthetix is expected to go on another spectacular run soon.

Synthetix is close to releasing its cross-chain solution, the Synthetix teleporters, which will allow instant liquidity movements across multiple chains without inherent risks of the bridge architecture. Chainlink’s cross-chain interoperability Protocol, CCIP, is what’s allowing synth teleporters to function. The current version of CCIP is near-feature complete, and CCIP is seriously close to an initial mainnet implementation, which is expected to make Synthetix a prominent player in cross-chain liquidity.

NFTs and Mezzanine Finance

The NFT market has grown beyond just collecting art and joining the PFP community culture, and has now independently transacted billions of dollars in trade volume. MEZZ is a blockchain-based platform creating a DeFi interpretation of mezzanine finance for NFTs, helping users find access to immediate liquidity to buy assets they don’t have the funds to purchase on their own. Mezz facilitates the secured holding of the acquired NFT or crypto assets in escrow while the borrower pays back the lender within the specified timeframe. MEZZ is still in early stages, which means there is a lot of potential for growth.

As the crypto markets evolve and change, it’s essential to pay attention to the past and recognize the similarities that continue to influence the future. With the right knowledge and understanding, you can navigate the crypto markets with more confidence and success.

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