The altcoin landscape is facing chaos, marked by a significant downturn. Many old projects are not only outdated but also overvalued. Without innovation or potential, they have no way to grow. Inevitably, they will lag behind $ETH in the near future, a trend that is already clear. Buying tokens during a major sell-off will essentially turn you into a cash-out point for venture capitalists.

Below is a list of 08 coins that I think you should not buy in 2024👇

1/ APT Project

Aptos, a layer-one blockchain, will issue 11.31 million APT tokens worth $69.46 million (1.01% of total supply) yesterday.

With the recent sharp drop in price from $18 to below $7, unlocking this token could put further pressure on the market value.

2/ ADA Project

Cardano, a blockchain that uses proof-of-stake technology, aims to drive global progress.

ADA is down 57% in 8 months, currently at around $0.35, making it a risky investment.

3/ AXS Project

Axie Infinity, despite being a pioneer in the concept of play to earn, still faces significant challenges.

Currently, $AXS is priced at $4.64 with a market capitalization of $693.2 million. However, the complex landscape of blockchain gaming could hinder its upward trajectory.

4/ XRP Project

$XRP Ledger supports transactions, micropayments, DeFi, and soon NFTs. Ultimately, it is considered an overvalued derivative of $BTC.

Since September 2021, the token price has dropped from $1.39 to $0.57 and there are no signs of growth.

5/ DYDX Project

DYDX's main concern lies in the token unlocking process.

These unlocking moves continuously put selling pressure, gradually driving down the price.

This situation often occurs in similar projects; it is important to always consider the delivery schedule.

6/ DOT Project

Polkadot is an open-source protocol that connects specialized blockchains to transfer data and assets across chains.

$DOT may not surpass its 2021 high as indicators suggest the coin may fall short of growth expectations despite strong tech.

7/ XMR Project

$XMR stands out for its private and anonymous transactions.

However, its value remains unchanged as of 2022 and is likely to be banned like Tornado Cash.

High valuation, outdated technology, no future growth, significant risk.

8/ FIL Project

Filecoin is experiencing significant volatility with a sharp decline over the past three months.

Recognized for its decentralized storage capabilities, recent struggles make it a risky investment option.

Of course there are many other projects that when you buy, you will go underground, scam... Please research carefully before investing!

#Write2Win #BTC☀ #MarketDownturn #TopCoinsJune2024 #BinanceTurns7 $BTC $ETH