Avalanche, Sky, Render, Optimism: U.S. Altcoins With Strong Fundamentals Despite Price Drops

Avalanche (AVAX), a New York-based project, is notable for its operation on three separate chains, which sets it apart from other projects. Despite a 30% price decrease over the past year and currently trading under $22, Avalanche's growth metrics, such as active users and transactions, have remained robust. The project's all-time high of $144 suggests significant potential for a major rebound.

MakerDAO and its decentralized stablecoin DAI have been rebranded to Sky and USDS, respectively. Sky is one of the largest and most established issuers in the stablecoin space, which is often dominated by names like USDC and USDT. With new U.S. regulations for stablecoins on the horizon, well-established players like Sky are positioned to grow rapidly. At a $1.2 billion market cap, MKR offers investors a chance to share in stablecoin profits, a rare opportunity in the crypto market.

Render is a project focused on providing decentralized GPU computing power, which is essential for AI models like ChatGPT and other large language models. While Render’s price has dropped from an all-time high of $13.53 to around $4, the fundamentals remain strong. The only concern is its unlimited max token supply. However, with the booming demand for AI and GPU, Render presents a strong long-term investment opportunity.

Optimism (OP) is one of the top Ethereum Layer-2 scaling solutions and serves as the foundation for projects like Coinbase’s BASE chain. It plays a crucial role in driving the broader Superchain ecosystem forward. Despite a tough year with its price dropping over 70% from its peak of $4.84 to below $0.74, the project’s fundamentals remain solid. With Coinbase now a member of the S&P 500, regulatory clarity could bring more attention to OP in the future.

The crypto market is often dominated by big names like Bitcoin, Ethereum, Solana, and XRP. With the altcoin market adding significant value in the second quarter and important market indicators hinting at an upcoming rally, many believe altcoin season is around the corner. While the spotlight usually sticks to familiar names, several underrated U.S.-based projects are quietly making big moves. Avalanche, Sky, Render, and Optimism are four U.S.-based altcoins that are currently underrated but have strong fundamentals, making them worth watching in 2025.