TL;DR
Avalanche (AVAX) saw a sharp decline during recent market turbulence, dropping 47.31% from its July peak before rebounding 24.8% by August 7. Despite weakened support zones, buying pressure has increased.
Rebel Satoshi (RECQ) is a new crypto aiming to disrupt centralized systems with a Web3 community focused on freedom and revolution. The token powers transactions within its ecosystem, including an NFT marketplace and various gaming experiences.
Chainlink (LINK) saw a surge in daily active addresses, hitting their highest level since May, as users increased transactions amid market outflows. This growing activity suggests an accumulation phase, with investors showing confidence in LINK despite recent market drops.
Avalanche (AVAX) experienced a dramatic decline in value following the latest market turbulence and increased liquidations. Meanwhile, Rebel Satoshi (RECQ) is carving out its niche with a disruptive vision that challenges centralized systems. Yet, Chainlink (LINK) is demonstrating resilience despite recent market challenges, with on-chain data showing a significant surge in daily active addresses. Here is why AVAX, RECQ, and LINK are poised for a significant rebound.
Avalanche Rebounds after Market Crash: Recovery Insights
Avalanche (AVAX) dropped steeply amid the recent crypto market turbulence, which was marked by increased liquidations. Notably, layer-1 Proof of Stake (PoS) assets experienced diminished demand after Ethereum ETF’s approval.
Due to this persistent decrease in trading activity, AVAX’s support zones weakened as bears staged a steep correction from July 2024’s peak. On July 21, Avalanche hit a peak of $32.99. However, by the end of the market crash on August 5, AVAX had lost 47.31% as it plunged below $20.01 for the first time this year.
Avalanche’s price regained around 24.8% since August 5, surging above the psychological $20.01 level by August 7. This rebound means investors are buying the dip, helping increase Avalanche’s buying pressure. AVAX might outperform the market average in the next bull cycle if this buying pressure persists.
Remarkably, OKX announced the addition of AVAX to its On-Chain Earn product on August 8, helping boost its upside momentum. In the second week of August, Avalanche was valued at $20.57, down 18.75% in the past week. Experts believe AVAX will surge to $25.15 by the end of August, supported by developments on its network.
Rebel Satoshi: Disrupting the Crypto Space with Innovative Use Cases
Rebel Satoshi (RECQ) is an infant in the crypto industry, mostly when compared to the other top altcoins like Avalanche and Chainlink. Nonetheless, it seems to be unveiling a new idea of disrupting the centralized and controlled systems in the crypto space.
Notably, its Web3 community celebrates freedom, revolution, unity, and challenging normalcy. Rebel Satoshi users have a strong voice in the ecosystem’s governance. Nevertheless, it is unknown how and to what extent the project will achieve this decentralization.
RECQ boasts an innovative use case as the base currency that powers all transactions and interactions on Rebel Satoshi. Hence, investors can use the token to acquire exclusive merchandise items and explore Rebel Satoshi’s NFT marketplace.
The ecosystem will consist of various gaming experiences like pay-to-play (P2P), play-to-earn (P2E), and free-to-play (F2P).
Furthermore, Rebel Satoshi’s RECQ token offers extra benefits in the platform’s rewards program. The token lets holders engage in the remarkable gaming experience of the Rebel Satoshi Arcade, which offers several P2E titles like Guy Fox, Rebel Run, and Rebel Satoshi: God Save The King.
RECQ is selling for $0.0068 in Stage 4 of its presale. Thus, the coin’s $0.0125 presale target will give Stage 4 RECQ investors a remarkable 84.82% profit.
Chainlink Recovery: Surge in Active Addresses Signals Strong Rebound
On-chain data published on August 6, 2024, offered valuable insights into network activity and user trends, resulting in Chainlink’s (LINK) strong recovery from a recent drop. A major metric that showed considerable growth is the number of daily active addresses on Chainlink’s network.
Interestingly, active LINK addresses have considerably surged, hitting their highest level since May. The growth in active addresses indicates that Chainlink users executed more transactions as other assets recorded outflows from exchanges. Such moves are known to precede an accumulation stage.
LINK holders seem unmoved by the fluctuations rocking the crypto market. Rather than stopping accumulation, the recent drop prompted an increased adoption rate in Chainlink’s market. Hence, investors have a strong belief in the project’s future.
An increase in the number of active addresses means Chainlink is being adopted and utilized more than some of the other best coins in the market. This trend confirms that although LINK dropped in the recent market-wide slide, it might record a significant rebound in the coming weeks.
Chainlink was valued at $10.03, down 22.88% in the second week of August. Experts believe LINK will rise to $13.05 by the end of August, supported by increased demand for the token from investors buying the dip.
Website: https://recq.rebelsatoshi.com/
August, supported by increased demand for the token from investors buying the dip.
Website: https://recq.rebelsatoshi.com/
