Altcoins
3 Altcoins to Sell Based on Market Fluctuations
Altcoins are moving sideways after rebound attempts yesterday. Several sectors of the market are moving in this direction, with the bulls repositioning mid-week. Although slight gains were recorded at press time, sentiment remained weak after days in the red zone. Last week, crypto assets recorded steep losses, sending market capitalization plummeting to levels not seen in a month.
Macroeconomic factors led to outflows of Bitcoin as the price fell below $61,000. This triggered a massive sell-off in altcoins and meme coins, adding to the decline in market capitalization. The total crypto value is $2.27 trillion, up from a previous figure of over $2.6 trillion. With the current fluctuations, traders are looking to reposition their holdings. Here are 3 cryptos for sale this week.
Ripple (XRP)
Ripple is down 0.92%, while other major altcoins saw little gains in the market. XRP is trading at $0.4751 with a market cap of $26.1 billion after weeks of negative trading. One of the main reasons why users are considering XRP as one of the altcoins to sell is its slow recovery over the past 24 hours. Weekly figures also plunged more than 4%, while monthly releases remain in double digits. Overall trading volumes also declined by 16%, to $887 million.
Polygon (MATIC)
Polygon continued its downward trajectory after weekly lows. The asset is trading at $0.555, down 2.85% in the last 24 hours. Like Ripple, MATIC is showing limited signs of rebound associated with a 33% drop in trading volumes. Daily trading volumes fell to $179 million as bulls run out of steam. MATIC’s monthly figures were down 23%, erasing a significant portion of previous gains.
Shiba Inu
Meme Coins have been the most affected by the crypto market decline due to price volatility. Shiba Inu is down 2.3% in the last 24 hours at $0.00001743. The asset’s weekly outflows have fallen, making it one of the altcoins to sell for most users. Furthermore, daily volumes amounted to $260 million, a decrease of 22%.
Read also: Cardano Price Expected to Hit $40 According to Crypto Analysts
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Keeping up to date with trends, David has reported on several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Outside of the financial markets, David cycles and horseback rides.