![Be[in]Crypto Presents Its Top Six Altcoin Picks for May](https://crypto.newswireservice.net/wp-content/uploads/2022/05/bic_altcoins.jpg.optimal.jpg)
Be[In]Crypto looks at six altcoins that have promising developments lined up for the month of May.
Kava.io (KAVA)
- Current Price: $4.22
- Market Cap: $769 Million
- Market Cap Rank: #88
Kava.io is a decentralized finance (DeFi) platform for lending. In addition to lending, it allows users to invest and earn. The platform also supports interactions between different chains. In order to secure the platform, the native token KAVA is used.
The KAVA Network 1.0 Mainnet launch will occur on May 10. This will be the full launch of the Kava Network. It will allow developers to build in the Cosmos and Ethereum ecosystem with impeccable interoperability.
Afterward, the ETH bridge will go live sometime this month, bridging thousands of ERC-20 assets onto the KAVA network and vice versa.
Finally, liquid staking will be implemented in the network by the end of the month.
As for its price movement, KAVA has been falling since breaking down from an ascending support line on April 30 (red icon).
While it has bounced at the $4.07 support area, it is not showing any bullish signs.
Harmony (ONE)
- Current Price: $0.082
- Market Cap: $994 Million
- Market Cap Rank: #73
Harmony is a blockchain platform that facilitates the creation of decentralized applications (DApps). Its uniqueness comes from its random state sharding protocol, which greatly increases the speed at which blocks are created by reducing node validation time.
In order to secure the protocol, Harmony uses a Verifiable Random Function (VRF). The native token for the platform is ONE.
Harmony will organize numerous events and conferences in May, such as the DeFi alliance cohort.
The price action for ONE is bearish, since the price has broken down from a long-term descending parallel channel. The trend cannot be considered bullish until this line is reclaimed.
Algorand (ALGO)
- Current Price: $0.59
- Market Cap: $3.98 Billion
- Market Cap Rank: #31
Algorand is a blockchain network that supports various applications. It aims to be secure,…
