The cryptocurrency market has been relatively calm lately. However, some altcoins have started to attract the attention of investors. According to information from analysis company Santiment, Chainlink (LINK), Immutable X (IMX) and Pyth Network (PYTH coin) have experienced impressive increases of 34%, 23% and 26% respectively in the last week. These increases brought with them feelings of FOMO (Fear of Missing Out) in the altcoin market. Here are the details…
FOMO alert for PYTH coin, LINK and IMX
In the cryptocurrency market, which has been calm lately, some altcoins have begun to excite investors. According to Santiment’s data, Chainlink (LINK), Immutable X (IMX) and Pyth Network (PYTH) experienced eye-catching increases of 34%, 23% and 26%, respectively, in the last week. These increases also triggered feelings of “Fear of Missing Out”, also known as “FOMO”. The details of the coins are as follows:
- Chainlink (LINK): LINK, which offers Oracle solutions, has become one of the altcoins that have attracted the attention of investors in recent weeks.
- Immutable X (IMX): IMX, which offers Layer 2 solutions for the NFT market, has experienced a recent rise.
- Pyth Network (PYTH): Pyth Network, which focuses on institutional data providers, is another altcoin that has attracted the attention of investors recently. For cryptokoin.com As we reported yesterday, it was listed on Binance. Binance listing is among the reasons behind PYTH’s rise.
Santiment analysts state that the rise of these altcoins in the last week is also fueled by FOMO emotions and therefore carries a risk of high volatility. Investors need to do detailed research before investing in these altcoins. Investors are also advised to consider the risks.
What does FOMO alert mean?
The FOMO alert indicates that investors are affected by a rapid rise in the price of an asset. Thus, it means that one starts investing without rational thinking and research. This can lead to bubbles and sudden declines in the price of the asset. It is important for investors to do their research and consider investment risks before succumbing to feelings of FOMO. Investors can consider the following factors before investing in an altcoin:
- Core values behind the altcoin’s project and team
- Usage areas and potential market of altcoin
- Technical analysis and price history of the altcoin
- Volatility risk of altcoin
Investing without feeling FOMO and doing detailed research will help investors minimize their risks.
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