Bitcoin (BTC) appears to be moving on thin ice as February failed to match last month’s gains. The market is currently in a bearish mood and is struggling to hold its multi-month highs. Meanwhile, the altcoin market is also bearish, but some projects may offer ideal entry opportunities. For a few examples, let’s take a look at the lists of crypto analysts…
Here are 6 altcoins to follow in today’s drop
The cryptocurrency market has managed to make up for some of the losses in 2022 in the new year. Cardano (ADA), for example, gained nearly 70% from $0.23 to $0.39 in January alone. It should be noted that the altcoin rarely performs such rallies. The slight correction of the day is also seen as a second opportunity for those who missed the rally.
Meanwhile, January’s rally wasn’t just focused on individual investors. Altcoin whales have also accumulated serious savings. According to Santiment, he had ADA savings of $405.85 million. This amount was one of those big investments in a short time. In summary, whales contributed significantly to Cardano’s price increase in 2023.
Shiba Inu (SHIB)
The popular meme coin is preparing to enter the top 10 by market cap, having rallied over 50% several times in recent weeks. SHIB gained more than 45% in January alone, and even now, it’s holding 25% of its last 7-day gain. cryptocoin.com We have included the critical levels to be followed this week in this article.
Meanwhile, according to Whale Alert data, a huge amount of whale transactions involving Shiba Inu are taking place. Such transactions are often associated with a potential price increase.
Hex (HEX)
HEX is a cryptocurrency that uses the Proof of Wait (PoWa) protocol. It is among the altcoin projects that have been rallying since the beginning of the year. It has gained 90% in the last 30 days and is trading at the local top of $0.04111 at the time of writing.
Similar to Cardano and Shiba Inu, Hex is also attracting whale moves after its price surge this month. Also, more investors are turning to Hex’s stake pools for additional income.
Ethereum (ETH)
Heavyweight Ethereum has recently completed its long-awaited merger with Ethereum 2.0. The biggest news this year is the Shanghai upgrade scheduled for March, which will allow investors to withdraw their ETH from the Beacon Chain for the first time in more than a year.
Also, there is much more to Ethereum this year with the EIP 4844 Sharding upgrade. This update will allow Ethereum to scale much more efficiently by dividing transaction payloads into multiple “chunks” or mini-blocks. Basically, it will make the entire system run much more smoothly.
But let’s not forget that Ethereum is already the clear leader in the DeFi world. According to DeFillama.com, Ethereum’s DeFi market dominance has risen to over 60% recently, with nearly $25 billion in locked total value (TVL) and over 600 DeFi protocols. On the NFT side, almost all of the top 10 NFT collections by transaction volume are on the Ethereum network. With all these features, ETH is among the cryptocurrencies that will be collected every drop.
Polygon (MATIC)
Last year, Polygon saw significant growth and acceptance in the NFT space. Some of the big names that have partnered with Polygon include Coca-Cola, Warner Music, Nike, Adidas, Starbucks and even Instagram (Meta).
And that’s not all, Starbucks recently launched an NFT rewards program called “The Odyssey” in partnership with Polygon. In the long run, Starbucks plans to launch its own NFT marketplace on Polygon, which could further increase the number of Polygon users and solidify the network’s mainstream appeal. MATIC is currently in a bullish period after a slight decline.
Near (NEAR)
Near Protocol has quickly become one of the most scalable and interoperable Proof-of-Stake blockchain platforms on the market. The project has completed a massive $850 million funding round in 2021 and 2022. Also this year, it will launch its Nightshade Sharding solution. Unlike Ethereum 2.0 or Polkadot, sharding in Near is not designed as multi-chain but as standalone Blockchains.
This feature means that each block in Near contains a snapshot of all the transactions that took place in each shard. While Near already processes transactions quickly and cheaply, this upgrade is set to take Near’s capabilities to a whole new level, 100,000 transactions per second.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.