Top 3 Altcoins (The Only Projects That Make Sense)

**Deezy** (0:00)
The world's largest altcoin investor is telling us the three best projects, altcoins that actually make money, or in Grayscale's terms, valuing crypto with actual cash flows. And cash flow is just the amount of money going in and out of a business. How much commerce does this company do? And this recommendation comes from a very large Grayscale report, but we're mostly gonna focus on one graphic. Now, we're mostly gonna be covering this graphic and number three more specifically. Number one, that's just the commodities, the Moneros, the Bitcoins. Number two, that's the L1s, the Ethereum, Solana, Sweez. Number four, that's gonna be DeFi, staying away from DeFi for the most part because of AI and all the hacking tools that it creates. But number three is what interests me, and we're looking at the economic activity of these projects. These are projects with actual cashflow, and we're gonna start with Near. Now, Near is the one I'm actually most bearish on, and we've covered why I'm bearish on Near in the past, but just to reiterate, the stablecoin market cap on Near falling off a cliff. I don't really see this project taken off in the long term. Also, if you look at the number of active addresses on Near, the daily, there's not much activity here. There's less and less people using it, except for this little blip right here. And we actually have indications they paid for that little bump. Let's go ahead and jump into the chart. So we're looking at the daily chart, and it is testing the bottom of this uptrend, and this might not hold. You can see it is trying to burst through as we speak, and I'm looking at a little level. Let me point something out real quick. Near had a very strong bear div on the daily. You can see we not only had the candle bodies close higher, we also wicked higher, but the RSI on the daily was heading lower. That's a classic bearish divergence. I would maybe look out for potentially more downside. The first level of support I'm looking at here, I'm going to draw a horizontal line, is you can see the bottom is right here, but watch what happens when I throw down the horizontal line. You'll see that right here, it was acting as resistance, acting as resistance, and also tentatively acting as support. So this level is $1.85. If we break out of this channel, I would expect maybe a bounce here right in this range. But before that, there is a psychological level of $2, so I'm keeping an eye out on that as well. The next altcoin with strong economic activity is Chainlink. Now Chainlink, it's a little harder to get the economic activity because the token's been out since the 2010s, but they just turned on revenue in a strong way, Q3 of last year. And so we don't have much data, but it is slightly trending upward. Let's go into the charts here. Now also on the daily, you see a little bit of a range, but where Near was holding that support, Chainlink has already fallen through. And I'm looking at this next level, $7.19 or close to $7.20. That is gonna be right here, the February 6th WIC low. And so since we're breaking out of this range, this would be the area I would expect some support. And if you go back to 2023, you can see this is actually the exact area where we had a nice little bull flag, flag came down to this range. And we actually see a very similar situation in July of 2020 We had a nice little bull flag, the bottom of the flag came really close to this area as well. Now there is the larger macro bear flag. So if it continues to break down from that level, and we do have a couple targets here. And if we do break down below this level, we do have a couple targets. You can see, we formed the pretty long bear flag right there, breakdown started right around here. This is my absolute worst case scenario. I don't see it going down to 250 anytime soon. I do think this 720 level can hold. But now let's do the final altcoin. You probably already know what it is from the colors. That is Hyperliquid. Hyperliquid has some pretty good stats that I do wanna share here. Now this is the revenue. It peaked in this October range of last year. This was when the precious metals were going crazy. This was when silver was running up, gold was running up, palladium was running up. Really weren't a lot of places for people to trade though. So we did get a little bit of a spike there. But if you zoom in to the recent data, it does seem like this is slowly trending upward. We had a really, really big spike there, probably, presumably, pre-IPO trading for SpaceX. But this is even more bullish. This is Hyperliquid's stablecoin market cap. Now, remember, we showed you Near's stablecoin market cap. Look at that. It is just heading down and down and down. But when you go to Hyperliquid, this is the exact opposite story. Hyperliquid's stablecoin market cap is just going higher and higher. It is already at $6.5 billion.