After 20 days of falling from 72,000 to 58,000, BTC has stagnated for three consecutive days. Whether it can stop falling and form a new round of rise at the current stage remains to be seen. ETH is stronger than BTC, but it still has no independent market.
Yesterday, the sol chain performed the most outstandingly. Sol bome jup jto wif all saw large-scale increases, but these increases were small-scale and high-level, and their sustainability may not be strong.
Yesterday, BTC rose, and the coins that had seen good gains in the previous period all fell, and the market sentiment seemed to be average.
Even though BTC rose yesterday, it is not a good thing to rise in a small cycle at this stage. Combined with the performance of the altcoin, it feels that the market is likely to continue to fluctuate, or even fall, and the altcoin is likely to continue to fall. Short positions are mainly for observation.
The market is set for significant volatility as anticipation builds for Ethereum (ETH) and the upcoming launch of an ETH ETF. Ethereum’s price has shown bullish momentum, and a breakout could spark significant volatility in other altcoins, according to predictions.
These 3 altcoins are about to explode and can achieve a 100-fold increase by the end of 2024!
1.HBAR
Hedera (HBAR) is a public network that aims to revolutionize the digital landscape with its fast, secure, and fair consensus algorithm. Hedera leverages a unique structure called a hashgraph to enable fast transactions, low fees, and strong security. HBAR tokens serve multiple functions in the network, including transaction fees, network services, and securing the network through staking.
Features:
Hashgraph Technology: Ensures fast transactions and low fees while maintaining high security.
Versatility: Supports a wide range of applications from supply chain management to gaming and social media.
Developer Appeal: Ideal for developers looking to create scalable and efficient decentralized applications (dApps).
Hedera’s innovative approach makes it a natural choice for those looking to leverage blockchain technology in a variety of fields. Its ability to support a wide range of applications positions it well for future growth, especially as demand for efficient and scalable dApps continues to grow.
2.LINK
Chainlink (LINK) is a key component of blockchain technology, providing a secure and reliable decentralized oracle network. These oracles provide smart contracts with real-world data, allowing them to run based on accurate and up-to-date information.
Example:
Price information: Critical for decentralized finance (DeFi) applications, providing accurate financial data to smart contracts.
Insurance: Providing reliable data for various insurance applications, such as weather data for crop insurance or freight data for marine insurance.
Chainlink’s technology ensures that smart contracts on DeFi platforms have tamper-proof and accurate data, thereby maintaining the integrity and reliability of these platforms. In addition to financial data, its applications in insurance and other fields also highlight its broad utility and growth potential.
3. PEOPLE
BitTensor (TAO) is among the top three crypto AI tokens. BitTensor is a decentralized machine learning network that incentivizes and rewards users to contribute computing power and data to train AI models.
Special feature:
Decentralized AI: Democratizing AI by making advanced machine learning accessible and profitable to a wider audience.
Incentive Model: Use TAO tokens to reward contributors and pay for services, ensuring continued participation and improvement of AI models.
Despite the recent price drop to $287, as AI technology becomes an integral part of various industries, the demand for decentralized AI platforms such as BitTensor is expected to increase, pushing up the price of TAO.
4. DONE
Despite the recent price drop, the potential of Fetch.ai (FET) is still being recognized. Fetch.ai is a blockchain platform that focuses on building a decentralized machine learning network to provide intelligent infrastructure for autonomous agents to perform economic tasks on behalf of individuals, businesses, and organizations. The technology can be applied to supply chain logistics, energy grid optimization, and smart cities.
Market potential:
FET is expected to rebound after bottoming out in the current correction and retest its all-time high of $3.47 set in March 2024.
The recent recognition of the ASI Alliance, which combines Fetch.ai, SingularityNet, and Ocean Protocol into a single AI token ($ASI), adds to its bullish potential.
SEK 5 million
Maker has regained momentum, with its value rising 7.93% in the past 24 hours after a bearish trend since April. The surge in price was supported by a 41.69% increase in trading volume, indicating increased investor confidence in the token. Additionally, the altcoin has gained 4.12% in the past week, reflecting growing bullish sentiment towards MKR’s price.
Furthermore, the MACD technical indicator is showing an upward pattern in its green histogram. Technical analysis suggests that this unique pattern indicates increased buying pressure on Maker in the market. Additionally, MKR’s simple moving average (SMA) has achieved a bullish crossover on its 24-hour price chart, indicating a positive outlook for the coin this week.
Meanwhile, MakerDAO recently enhanced its decentralized finance system by integrating the Direct Deposit DAI Module (D3M) into Spark’s MetaMorpho Vault. The integration enabled Spark to supply 500 million DAI to Ethena’s USDe and sUSDe markets pegged to DAI. This development has contributed to the token’s recent positive performance.
If the entire cryptocurrency market can maintain the bullish sentiment, Maker is expected to retest its resistance at $2,639 during the upcoming weekend. This prediction is based on the bulls holding off the bears while avoiding profit-taking. Conversely, if the trend reverses, the price of Maker could drop to its critical support at $2,165.
