I've noticed that I'm often asked the same question: how to identify a truly promising crypto in this saturated market? Honestly, it's a legitimate question because so many projects are launching every day. So I thought I'd share my method for evaluating a promising crypto, the one I’ve been using for a while.

If I had to boil it down to the essentials, three things allow me to distinguish a real project from mere speculation. First, there's concrete utility. A crypto without a project is just a token. End of story. I won't advise you to invest in meme coins like DOGE or SHIB, even if they can be profitable sometimes. Why? Because there's nothing behind them. Apple succeeded thanks to quality products, nothing else. Same goes for cryptocurrencies.

How to verify this utility? By looking at concrete indicators like TVL (Total Value Locked) or the number of active users. It's like Netflix with its hundreds of millions of subscribers. If no one uses the thing, it's dead.

Second point: the team. I always check the whitepaper, yes, but also the track record of those behind the project. If the founder has already contributed to serious projects before, that's a good sign. The team behind Polkadot, for example, comes from Ethereum. That’s no small background.

Third criterion: the community. A truly promising crypto attracts engaged developers and investors. On X, Discord, Telegram, if there's activity, that's a good sign. Solana needed this after the FTX scandal, and its community helped it bounce back.

Now, let's talk numbers. In 2023, I spotted a few projects and honestly, it went well. XRP doubled, then some, between January and the year's peak. Cardano (ADA) also doubled. Polkadot (DOT) the same. MATIC on Polygon allowed doubling the investment. Even BNB, despite legal issues in the US, gained 2.4x until March 2024. So overall, those active in 2023 could make good investments.

Now, let's look at 2024 and beyond. We're already starting to talk about a bull run. Avalanche (AVAX) interests me a lot. The blockchain reached the top 10 with a market cap nearing $20 billion in 2024. Why? Because it's fast, scales well, and is easy for developers. Even better, it has backing from the founder of AAVE and a co-founder of Chainlink. That kind of backing is serious. AVAX already tripled in 2023, so there's still room before revisiting $100.

Cardano also remains a promising crypto to watch. Launched in 2015 by a co-founder of Ethereum, it's an open-source blockchain for dApps. Yes, it's called the Ethereum Killer—an ambitious positioning—but the project has potential.

In summary, finding a promising crypto isn't rocket science if you know where to look. Real utility, a competent team, an active community. That's your checklist. And if you want to trade these projects, Gate offers good access to most of them. Your move.