Category Archives: Altcoin
Bitcoin and This New Altcoin Are Predicted to Surge, We Find Out Why – Analytics Insight
The cryptocurrency market is currently enduring a brief setback following the lawsuit filed against Binance and Coinbase. Market experts have explained that the downtrend will be short-lived, saying that Bitcoin and a new altcoin are primed for a price surge. In this article, we will discuss the reasons why experts have predicted a price surge for Bitcoin and the new altcoin Tradecurve.
Bitcoin (BTC), the flagship cryptocurrency, started the year with good bullish momentum, peaking at $30,800 from an opening price of $16,530. While slowed down in the second quarter, the last two days have been bearish, as the price of Bitcoin was forced under $26k as two of the biggest crypto exchanges, Binance and Coinbase were hit with lawsuits from the SEC.
Several experts have predicted that despite the recent downtrend, Bitcoin is still primed for a surge in 2023. Confirming this, market expert, Kevin Svenson explained that Bitcoins moving average convergence divergence (MACD) indicator has crossed the daily timeframe a signal for a long-term bullish outbreak.
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In addition, the United States Congress has reached an agreement to raise its debt ceiling and remove tax on energy consumed by crypto miners further encouraging the crypto community to grow. When the price of Bitcoin recovers from the recent sell-off, we could begin to see some of these predictions come into play.
To start, Bitcoin would need bullish momentum to reclaim the $27,400 support from its current price of $26,150. When Bitcoin clears this resistance, then the bulls will look to retest the $30,000 resistance before entering a clear path from $32k to $40k.
While the Bitcoin rally will cut across the entire cryptocurrency market, experts have identified Tradecurve (TCRV) as an altcoin with the potential to outperform the market. The reason for the bullish remarks about Tradecurve is that the platform will introduce features that could transform the cryptocurrency trading space.
Currently, cryptocurrency traders need to open multiple accounts with platforms offering trading of forex, commodities, options, stocks, and ETFs to be able to access them. This new platform is bringing an effective solution to this by creating a decentralized all-inclusive platform where traders will need only one account to access and trade all these financial instruments.
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As the idea sounds alluring, experts have predicted that many traders from within crypto and the financial markets will leave their current platforms to Tradecurve because it offers an easier way of keeping track of their portfolios.
As more traders join Tradecurve, experts have predicted that its native utility token, TCRV, will experience a price spike of up to 50x during its presale and up to 100x when the platform launches. For now, investors have a great chance to join Tradecurve early as the token now sells for just $0.015.
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Bitcoin and This New Altcoin Are Predicted to Surge, We Find Out Why - Analytics Insight
ChatGPT Predictions For Dogecoin In 2023 – 8 New Altcoin … – Analytics Insight
Dogecoin (DOGE), the meme-inspired cryptocurrency, has captured global attention, with influential figures like Elon Musk expressing fascination and actively promoting it. Despite lacking practical utility, this peculiar digital currency has amassed a significant following. To gain insight into its future, we turned to ChatGPT, the renowned AI chatbot, for price prediction.
While ChatGPTs forecast for DOGE remains uncertain, it provided us with a compelling list of 8 alternative altcoins worth checking out. These include Wall Street Memes ($WSM), AiDoge ($AI), DeeLance ($DLANCE), Ecoterra ($ECOTERRA), Launchpad ($LPX), yPredict ($YPRED), Copium Club ($COPIUM), and SpongeBob Token ($SPONGE). But before we get into the alternatives, lets see what ChatGPT thinks about DOGE.
When we asked ChatGPT for its take on the price prediction for DOGE, it seemed to have a rather negative opinion. However, its important to note that ChatGPTs prediction is not definitive, as the cryptocurrency market is highly unpredictable. Its still intriguing to hear what the latest AI chatbot thinks about DOGE.
ChatGPT started with a pessimistic sentiment, suggesting that DOGE could encounter some significant challenges. Theres a possibility that its due to the recent SEC lawsuit against several cryptocurrencies, which affected their value, causing them to drop.
But on top of explaining what it thinks of DOGE, ChatGPT also provided us with a list of alternative altcoins that are currently trending in the crypto market. So, lets take a closer look at these intriguing options and see what theyre all about!
Wall Street Memes ($WSM) is a newly launched meme coin project that has been creating quite a buzz in the market lately. Right now, theyre in their presale phase, and its been quite impressive. So far, theyve raised a lot of money in a short time, and the numbers keep climbing.
Interestingly, ChatGPT has a positive outlook on $WSM and even suggests that it might get listed on Binance, one of the popular cryptocurrency exchanges. With optimistic price predictions floating around the market, its no wonder people are getting excited. So, if youve been considering it, this may be the perfect time to invest in $WSM.
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AiDoge ($AI) is another coin that ChatGPT is really excited about! It had one of the most successful meme coin presales in 2023, raising a whopping $14.9 million in just over a month and reaching its hard cap ahead of schedule. ChatGPT strongly believes that $AI could be the next big thing, with the potential for massive growth after launch.
Whats cool about AiDoge is that it combines memes and AI, so users can create awesome viral memes and turn them into NFTs. By holding $AI tokens, you can even earn daily meme generation credits, making the token even more valuable. Even though the presale is already sold out, you can still get $AI at the list price.
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DeeLance ($DLANCE) is a super interesting project that has got ChatGPT all excited! You know why? Because its here to shake up the freelancing and recruitment sectors in a big way. Through blockchain and Web3 technology, this project connects recruiters and freelancers easily. And heres the kicker: The $DLANCE token allows freelancers to tokenize their services.
DeeLance tackles some of the major headaches in the industry, like those pesky low fees, delayed payments, and high withdrawal costs. With no middlemen involved, everything becomes faster and more transparent. So, according to ChatGPT, now is the time to check out this project since the price is expected to soar.
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Ecoterra ($ECOTERRA) is an incredible project that has ChatGPT buzzing with excitement! This altcoin is all about rewarding people for recycling through its awesome Recycle-2-Earn (R2E) model. And guess what? It is about to reach a massive presale milestone too!
But wait, theres more! Ecoterra has gone above and beyond by creating a one-of-a-kind marketplace where recycling industries and machines can trade the materials they recycle for $ECOTERRA, $BTC, or regular cash. Its a perfect solution for crypto enthusiasts who want to make a positive impact on the environment.
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Navigating the DeFi world can be overwhelming, especially for newcomers. Thats why ChatGPT recommends Launchpad ($LPX), which is an awesome platform for crypto traders. Its packed with useful insights and information to make your trading journey smoother.
The best part? You simply need to hold the $LPX token to unlock all these essential features. No wonder investors are flocking to this project before the price shoots up. So, if youre thinking of investing in $LPX, you better act fast. Let Launchpad be your guide in this complex DeFi space!
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yPredict ($YPRED) is the cutting-edge crypto prediction platform that has taken the crypto community by storm, even catching ChatGPTs attention! Its a comprehensive hub for traders, financial experts, investors, quants, and data analysts. If youre passionate about the crypto world, this is an opportunity you simply cant overlook!
By harnessing the power of AI algorithms and predictive models, yPredict provides invaluable insights, unveiling hidden market opportunities. Gone are the days of relying solely on your instincts! Act now because the presale is still ongoing, but time is running out.
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Copium Club ($COPIUM) is another hot new meme coin that ChatGPT thinks will replace DOGE pretty soon. This gem launched on Uniswap not too long ago, and guess what? Its already given investors mind-blowing gains of over 800%! DEXTools.io reported that in just 24 hours, Copium attracted more than 2100 investors.
And thats not allthe project caught the attention of popular Twitter influencers like FaZe and DeeZe, who together have over 3 million followers. Plus, Copium Clubs NFT release is causing a frenzy among NFT enthusiasts. So join the community now because ChatGPT anticipates spikes soon.
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SpongeBob Token ($SPONGE) is a hot new meme coin inspired by the beloved Nickelodeon character SpongeBob SquarePants. Catching ChatGPTs attention, it made an explosive debut on Uniswap, skyrocketing by a staggering 2800% within its first three days. Although its price has dipped since then, SpongeBob Token has gained momentum through listings on CoinW, Uniswap, Bitget, Gate.io, and more, boosting its value.
Moreover, there is an upcoming airdrop event! By joining their official Discord Server and completing social-media tasks, participants can earn points to receive even more $SPONGE tokens. Waste no time and invest in SpongeBob Token now to seize this opportunity!
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While the future of DOGE might still be uncertain, ChatGPT is hopeful about the emergence of alternative altcoins that present some amazing opportunities. Coins like $WSM, $AI, $DLANCE, $ECOTERRA, $LPX, $YPRED, $COPIUM, and $SPONGE have gotten a lot of attention, and investors are buzzing with excitement too! So why not jump on the wave of these promising projects? Who knows, you could potentially make some memorable returns in 2023.
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ChatGPT Predictions For Dogecoin In 2023 - 8 New Altcoin ... - Analytics Insight
Vitalik Buterin proposed this roadmap for Ethereum as the altcoin battles intense selling pressure – FXStreet
Vitalik Buterin, the co-founder of Ethereum recently presented a three step transition plan for maximizing ETH blockchains success. For the native token of the second-largest blockchain in the crypto ecosystem, the $1,500 level is key support.
Also read: Weekly Roundup: Binance.US halts fiat services, Coinbase does business as usual, XRP hits key milestone
Ethereum networks co-founder has proposed a major transition for the Ethereum blockchain that is likely to change the relationship between ETH users and their wallet addresses. Buterins proposal addresses the challenge of scalability and high transaction costs. Find out more about the transition here.
To put it plainly, the transition is expected to boost Ethereums utility and adoption among users. This fuels a bullish thesis for the altcoin and could catalyze ETH price recovery in the long term.
Post the tumultuous events of last week, regulatory crackdown from the US Securities and Exchange Commission (SEC) and UKs Financial Conduct Authoritys shifting stance on crypto, Ethereum price crumbled.
ETH price declined nearly 4% since June 4, from $1,916.67 to $1,844.74 on June 10, based on data from the ETH/USD one-day price chart on Binance.
Ethereum price is battling intense selling pressure from the US SECs regulatory crackdown on cryptocurrencies. The altcoin slipped below the $1,800 level, key support for Ether. At the time of writing, ETH is exchanging hands at $1,748.12.
Based on data from crypto intelligence tracker IntoTheBlock, the $1,500 level is the next key support for Ether. 1.91 million wallet addresses have scooped up Ether between the $1,509.38 and $1,566.68 level. At the current price, 40.11% wallet addresses holding Ethereum are profitable.
In/Out of the money data from IntoTheBlock
If selling pressure on Ethereum intensifies, the altcoin could slip to support at $1,500. A decline below critical support could signal a long-term bearish trend in the altcoin.
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Vitalik Buterin proposed this roadmap for Ethereum as the altcoin battles intense selling pressure - FXStreet
Analyst Predicts 2x Rally for Altcoin Thats Up Over 2,000% in Under Two Months, Updates Outlook on Bitcoin – The Daily Hodl
A widely followed crypto strategist says that one altcoin is likely to more than double in value after a parabolic rally.
Pseudonymous analyst Altcoin Sherpa tells his 195,900 Twitter followers that memecoin Pepe (PEPE) is poised to rally 2x from its current price.
Using Fibonacci retracement levels, a method of technical analysis for determining an assets support and resistance levels, Sherpa predicts Pepe is going to bounce to a price of $0.00000234, which is the .50 Fibonacci level.
PEPE: Added more to my existing position yesterday, I think this moves to the .50 fib eventually but will make a lower high (and Ill also take profit along the way). I still think this eventually goes way lower but a lower high/exit pump seems likely to me.
Pepe is trading for $0.00000116 at time of writing, up more than 2,000% from its earliest low price of $0.0000000551 on April 18th.
Next, the trader weighs in on Bitcoin (BTC) and predicts the crypto king will likely chop around the $25,000 range for days, if not weeks, before a move to the upside.
BTC: Dont see any real changes on higher timeframes; wouldnt be surprised to see more ranging around the $25,000 area. If that is the bottom, I expect consolidation there for several days/weeks and then continuation higher.
Still unsure though.
His chart shows the 200-day exponential moving average (EMA), an indicator used by traders to help determine the short-to-medium-term trend of an asset, rising toward the $25,391 price level, which is also the .382 Fibonacci level.
Bitcoin is trading for $26,569 at time of writing, down 0.5% during the last 24 hours.
Featured Image: Shutterstock/Tithi Luadthong/Alex_Bond
Top Altcoins to Look Out For: Big Eyes Coin, Caged Beasts and XRP – Hindustan Times
In the midst of an altcoin season, where alternative cryptocurrencies surge in popularity, investors are on the lookout for promising opportunities to win big. This article focuses on three altcoins that have captured the attention of the crypto community: Big Eyes Coin (BIG),Caged Beasts (BEASTS), and Ripple (XRP).
Each coin presents unique features and potential for significant gains. By delving into their distinctive attributes, we aim to uncover why these altcoins could be lucrative investments in the ever-evolving world of cryptocurrencies. Join us as we explore the exciting possibilities and future prospects of these altcoins.
Big Eyes Coin, a one-of-a-kind cryptocurrency, combines the adoration of cats and memes in a truly distinctive manner. This innovative coin places great emphasis on reducing its environmental footprint by operating on a decentralised network and utilising a proof-of-stake consensus mechanism. What sets Big Eyes Coin apart is its commitment to environmental causes, with a percentage of its revenue directed towards a charity wallet, supporting organisations dedicated to the preservation of our oceans.
Through its creative approach and dedication to environmental concerns, Big Eyes Coin is poised to revolutionise the way we perceive and utilise digital currencies.
XRP, the native cryptocurrency of Ripple, holds immense potential in the cryptocurrency market. Ripple aims to facilitate fast and secure cross-border transactions, and XRP plays a crucial role in this ecosystem. As Ripple continues to forge partnerships with banks and financial institutions worldwide, XRP's adoption and utility are expected to grow exponentially.
Many analysts and experts predict a positive trajectory for XRP, with price predictions pointing towards significant gains in the near future. With its established use case, robust technology, and growing network of partnerships, XRP presents an enticing investment opportunity for those seeking to win big in the altcoin market.
The blockchain world is buzzing with anticipation for Caged Beasts' highly anticipated presale event. By fusing the strength of memes with blockchain technology, this innovative startup seeks to transform the investing environment. Caged Beasts differentiates itself by its ground-breaking strategy for community involvement and sustainable growth. Early investors who register with their email addresses get special advantages and go on an exciting voyage.
But what really sets Caged Beasts apart is the roaring referral programme, which encourages players to invite others to the world of Caged Beasts and win more tokens. Caged Beasts is raising the bar for meme coins and laying the groundwork for future development by building a solid community and exhibiting its potential.
In this exploration of the best altcoins to buy during this altcoin season, we have examined three standout contenders: Big Eyes Coin, Caged Beasts, and XRP. Big Eyes Coin's fusion of love for cats, memes, and environmental consciousness positions it as a truly distinctive altcoin.
XRP's role in facilitating cross-border transactions and its growing network of partnerships make it an attractive investment choice. Finally, Caged Beasts' innovative approach to memes, community engagement, and its unique referral program set it apart in the crypto landscape.
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Top Altcoins to Look Out For: Big Eyes Coin, Caged Beasts and XRP - Hindustan Times
XRP and Litecoin (LTC) Breakouts on the Horizon? Heres How Bitcoin (BTC) Can Help: Crypto Analyst – The Daily Hodl
A widely followed crypto analyst thinks XRP and Litecoin (LTC) can rally if Bitcoin (BTC) can overcome a key price level.
Crypto trader Michal van de Poppetellshis 657,400 Twitter followers that BTC must rise above $26,800 to have a chance of rallying.
The lower timeframe picture for BTC is quite simple.
We need to break through $26,800 in order to have a continuation going here.
That means, if we break and flip that level, $27,500 is on the cards, but most likely $28,000 & breakouts on XRP and LTC.
Bitcoin is worth $26,551 at time of writing. According to Van de Poppe, if BTC can rally to $28,000, XRP and LTC are likely to experience breakouts.
XRP is worth $0.53 at time of writing. LTC is trading for $89.32.
Diving deeper into BTCs price movement, the analystpredictsthat if BTC can hold its current levels, it will be looking at a green summer ahead.
Great retest for Bitcoin, and if the weekly closes like this, well be having a close above the 200-Week MA (moving average) and EMA (exponential moving average).
That would mean that well be going up next week and have green numbers coming during Summer.
Looking at altcoins as a whole, Van de Poppebelievesthe altcoin markets are at a pivotal juncture.
Total altcoin market capitalization of crypto is also on the edge of an important point here.
Closing above 200-Week MA and EMA -> good sign.
Closing beneath -> more pain to come.
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XRP and Litecoin (LTC) Breakouts on the Horizon? Heres How Bitcoin (BTC) Can Help: Crypto Analyst - The Daily Hodl
Buckle up: 7 undervalued altcoins that may skyrocket this summer – Finbold – Finance in Bold
Cryptocurrencies have witnessed a remarkable recovery this year, bouncing back from the market slump experienced in 2022. However, despite the significant rebound, their current values remain significantly below the record-breaking all-time highs reached in 2021.
In that view, some of the biggest altcoins are indicating notable undervaluation when combining short, mid, and long-term realized capitalizations, according to data by crypto behavior analytics platform Santiment, retrieved by Finbold on June 5.
Specifically, there are several altcoins with market caps above their realized caps, including XRP (XRP), Cardano (ADA), Polygon (MATIC), Shiba Inu (SHIB), Dogecoin (DOGE), Uniswap (UNI), and Chainlink (LINK).
Santiment noted: Realized capitalizations are far below market capitalizations, revealing undervaluation.
Such data suggest that the aforementioned cryptocurrencies are in a position to make up the lost ground, hinting at a possible price resurgence this summer.
To signal which assets are undervalued or overvalued, Santiment uses a metric known as MVRV-Z Score (MVRV standing for Market Value to Realized Value). This measure refers to the ratio between the market value of a crypto asset and its realized value, as well as the standard deviation of a market value.
In other words, it is used to indicate when the market cap of a cryptocurrency is either above or below its perceived valuation. A negative MVRV value implies that the cryptocurrency is undervalued on average. Put differently, if all coins were sold, most traders will be realizing losses at the assets current price, Santiment explains.
Having said that, the most undervalued altcoin according to the MVRV ratio is SHIB, with an MVRV-Z Score of -3.48, followed by UNI (-2.67), LINK (-1.5), XRP (-0.6), ADA (-0.6), DOGE (-0.1) and MATIC (-0.08).
On the other hand, crypto assets that are currently overvalued relative to their fair value, include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).
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Buckle up: 7 undervalued altcoins that may skyrocket this summer - Finbold - Finance in Bold
Trader Who Caught Crypto 2023 Rally Abruptly Unloads Bitcoin and Altcoin Positions Heres Why – The Daily Hodl
A trader who skillfully rode this years crypto rally says he has considerably trimmed his exposure in the digital asset markets following Bitcoins (BTC) price doldrums over the last few days.
In a new strategy session, analyst DonAlt tells his 50,900 YouTube subscribers that Bitcoins correction from about $28,500 to around $27,000 last week was his signal to get out of the crypto markets.
The crypto strategist says that Bitcoins current market structure is not giving him any reason to be bullish on BTC.
Ive been kind of de-risking quite a bit across the market, which basically just meant that for Bitcoin I took a slight loss, for Litecoin I took a big win and for XRP I took quite a big win as well.
I still have a little bit, but I de-risked considerably just based on the fact that, even if you make the argument that its just chop and you can ignore it, I dont have a good technical reason to be in Bitcoin anymore.
DonAlt also says that while his Litecoin (LTC) and XRP positions were profitable, he noted that Bitcoins weakness is a sign that the recent rally in the altcoin markets will likely be short-lived.
I got my upside in the altcoins, which like I said at the start of the show makes me nervous every time. When Im technically wrong on Bitcoin, but I still make money on altcoins that just gets me spooked the f*** out because usually the altcoins do well or like better on the tail end of a rally.
He also highlights that Bitcoin has mostly traded sideways over the past few weeks even though the stock market has shown considerable strength.
Lets be real: the S&P has done wonders in the last week. Weve had a lot of strength, and its not just flown into Bitcoin.
All of that just has me disinterested.
DonAlt concludes that hed rather stay on the sidelines than give back all of his recent altcoin gains.
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Trader Who Caught Crypto 2023 Rally Abruptly Unloads Bitcoin and Altcoin Positions Heres Why - The Daily Hodl
What is an Altcoin? Meaning, Examples and Use Cases – Techopedia
What is an Altcoin?
An altcoin (alternative coin) is any digital currency that was created after Bitcoin (BTC) was introduced to the general public in 2009.
The concept of altcoins emerged as developers and entrepreneurs began to explore and develop new cryptocurrencies that could build upon Bitcoins capabilities and address its limitations. Some alternative coins use their own blockchain, while others are built on top of other existing blockchain platforms.
Altcoins can be categorized by their characteristics, use cases, and functionalities. Popular types of alternative coins include:
Bitcoin and altcoins both use blockchain technology for their underlying network infrastructure, but alternative coins can have unique purposes and functionalities that go beyond Bitcoins primary function: transferring value.
Here are some ways that Bitcoin and altcoins differ:
Today, there are thousands of alternative coins in existence, and they vary greatly in terms of their design, purpose, and popularity. Popular altcoins include:
Ether (ETH): Ethereum enables the creation of smart contracts and decentralized applications. Its native token, Ether (ETH), is the second-largest digital currency by market cap and is widely accepted as a payment method.
Cardano (ADA): Cardano aims to provide a secure and scalable infrastructure for the development of decentralized applications (dApps). Its native token, ADA, is used for staking, transaction fees, and participating in the platforms governance.
Ripple (XRP): Ripple is a business altcoin that allows digital and fiat currencies to be transferred across international borders on the same network. XRP is its native currency.
Polkadot (DOT): Polkadot enables interoperability between different blockchains. DOT is the native utility token of the Polkadot network.
Chainlink (LINK): Chainlink is an oracle network that connects smart contracts with real-world data. LINK, the native token, is used for incentivizing node operators and paying for data services.
Monero (XMR): Monero is a privacy-focused cryptocurrency that uses advanced cryptography techniques to provide secure and anonymous transactions.
Tezos (XTZ): Tezos allows token holders to vote on proposed protocol upgrades. Its native token, XTZ, is used for staking, participating in governance decisions, and receiving rewards.
VeChain (VET): VeChain focuses on supply chain management (SCM) and product authentication. VET, which is its native utility token, is used for transactions, staking, and accessing various services on the network.
Augur (REP): Augur allows users to create and participate in prediction markets. REP is the native token used for reporting on market outcomes and participating in the platforms governance.
Zcash (ZEC): Zcash is a privacy-focused altcoin that uses zero-knowledge proofs to hide transaction details. It operates on its own blockchain and provides users with the option to conduct either transparent or private transactions.
By the end of 2011, BTC investors began to show interest in a Bitcoin fork called Namecoin, and the term altcoin gained popularity within the crypto community as a shorthand way to refer to this hard fork.
Namecoin was developed to decentralize domain-name registration and make internet censorship more difficult. Its unique functionality quickly caught peoples interest and created a lot of press.
Despite its innovative intent, however, the first altcoin did not see widespread adoption. It did, however, pave the way for the development of thousands of new altcoins in the years that followed, each with its own unique features, use cases, and investment opportunities.
Investing in altcoins carries higher risks when compared to traditional investments. Over the years, its become apparent that altcoins appeal to specific types of investors. They include:
Early Adopters: These are investors who are interested in exploring new technological developments and trends. They often invest in newer, less-established altcoins with the expectation that these coins will grow in popularity and value over time.
Tech-Savvy Investors: These investors have a deep appreciation for blockchain technology and understand the mechanics of specific altcoins. This type of investor is often drawn to alternative coins because of their innovative features.
Speculators: Speculators are primarily interested in the potential for high returns. They buy altcoins with the hope of selling them later at a higher price.
Risk-Tolerant Investors: Due to their high volatility, altcoins tend to provide investors with either substantial gains or significant losses. Investors who have a high-risk appetite often find these two potential outcomes attractive.
Diversifiers: These are investors who want to diversify their portfolio and spread the risk of investing in cryptocurrencies other than Bitcoin across multiple alternative coins.
Long-term Believers: These are individuals who believe in the long-term potential of a specific altcoin project or the technology its built upon. They invest with the expectation that the project will be successful over the long run.
Altcoins in the decentralized finance (DeFi) space contribute to a vibrant and dynamic ecosystem by expanding the range of financial opportunities, fostering innovation, and offering diverse investment options for participants. Altcoins are often highly volatile, can be susceptible to market manipulation and face regulatory uncertainties.
As such, its important for all types of investors to conduct due diligence when trading or investing in alternative coins and only invest what they can afford to lose.
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What is an Altcoin? Meaning, Examples and Use Cases - Techopedia
Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says Its Showing Solid Strength – The Daily Hodl
A widely followed crypto analyst says that one Ethereum (ETH)-based altcoin is flashing signs of bullishness against both the US dollar and Bitcoin (BTC).
Pseudonymous crypto analyst Kaleo tells his 590,200 Twitter followers that the decentralized derivatives exchange Injective (INJ) looks poised to outperform Bitcoin (INJ/BTC).
According to a chart shared by the analyst, the INJ/BTC pair appears to have successfully retested a diagonal resistance as support.
INJ is showing solid strength vs. BTC again. Im long here.
Kaleo later updates the chart, saying that the INJ/BTC pair could briefly cool off after rallying to as high as 0.0003031 BTC ($8.23).
INJ / BTC with a solid move so far. Wouldnt be surprised to see a bit of accumulation here before a continuation higher.
Kaleo is also keeping a close watch on INJs price action against the US dollar.
The popular analyst says that the pair also looks bullish after taking out its diagonal resistance and retesting it as support.
INJ / USD chart looks great as well.
Injective is worth $7.86 at time of writing, up 7.7% during the last 24 hours.
Injective has recently announced a number of new developments to its ecosystem, including the integrationwith the blockchain-scaling solution Polygon (MATIC).
Injective launches a groundbreaking integration with [Polygon Labs] to enable true DeFi (decentralized finance) composability. For the first time, native assets from Polygon and Injective can be utilized for a diverse array of cross-chain use cases within the two ecosystems.
Injective also completed an upgrade to its Avalon mainnet after the proposal was approved by 99.8% of the community voters.
The Avalon Mainnet Upgrade is complete to bring you the most performant Injective infrastructure to date:
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