Altcoins

Act fast! 3 altcoins to sell while you still can.

Published

6 months ago

14 July, 2024

altcoins with a 10000% potential - Altcoins Set to Explode: Where to Expect 10,000% Gains in 2024

As Bitcoin (BTC-USD) continues to struggle, now is an opportune time to consider selling altcoins.

Bitcoin, the bellwether of cryptocurrencies, has fallen below $58,000 due to early repayments from Mt. Gox creditors and BTC transactions from the German government. Additionally, we have also seen a significant decline in ETF inflows over the past two months. These headwinds have had a significant impact on BTC prices, with BTC down over 15% for the month.

While the overall fundamentals of the sector remain attractive, the current scenario highlights the need for strategic adjustment. Furthermore, multiple interest rate cuts later this year could revive the trend. However, investors will be better served in this scenario if they align their crypto portfolio with the best in the sector.

Additionally, investors should consider dumping volatile altcoins that are likely to continue their downward spiral. That said, here are three altcoins to sell that are more vulnerable than others and will continue to erode investor value amid market volatility.

Ripple (XRP)

Source: AlekseyIvanov / Shutterstock.com

Ripple (XRP-USD) was once an emerging cryptocurrency startup but is now at a crossroads as it navigates a challenging environment. The platform has made a name for itself with its transformative decentralized financial payment network, becoming a leading provider of cross-border payment solutions. It boasts incredible transaction speeds, capable of processing transactions in four seconds.

However, despite Ripple targeting a large potential market, its performance has been volatile. The group has struggled to secure a stable position while its peers continue to post healthy gains.

Additionally, the ongoing legal battle with the Securities and Exchange Commission (SEC) further complicates its situation. Judge Analisa Torres’ nuanced verdict was mixed for Ripple and its investors. While it was acquitted of violating securities laws in retail transactions, it has been criticized for its direct sales to institutions. Additionally, it faces an imminent threat threatens $1.95 billion fineshould still weigh its assessment.

Shiba Inu (SHIB)

Shiba Inu (SHIB-USD) or Shib coin placed in the center among a pile of cryptocurrencies on a blue background. Close-up, soft focus. Banner with golden Shiba token.

Source: salarko / Shutterstock.com

Shiba Inu (SHIB-USD) is among the most popular meme coins and has garnered a considerable following online. However, despite its popularity, it remains a remarkably speculative bet, more likely to burn investors’ value than not.

As a result, the platform has faced massive capital outflows, suggesting major liquidity issues. Additionally, with broader market shifts and regulatory hurdles weighing on its valuation, SHIB investors will continue to be as volatile as ever. Therefore, for investors with a long-term investment horizon, SHIB is a clear sell, especially compared to the more established giants in the space.

More recently, the SHIB community has been excited about an impressive 4000% increase in its burn rate. However, the market response has been quite the opposite, with SHIB losing over 30% of its value in the last month alone. Therefore, it is difficult to gauge where SHIB will end up, making it best to avoid such a high volatility meme token.

Axie Infinity (AXS)

The Axie Infinity (AXS) logo is displayed on a mobile phone screen.

Source: TongRoRo / Shutterstock.com

Axie Infinite (AXS-USD) was once considered a blockchain gaming giant. Its multifaceted metaverse allowed players to interact with over 500 NFT-based creatures. However, despite benefiting early on from its claim to be a metaverse pioneer, Axie Infinity has struggled since then. Blockchain gaming is in declineand according to data from Big Blockchain Gaming, 31% of blockchain games were abandoned or deleted last year. Additionally, in the first quarter (Q1) of this year, the blockchain gaming sector recorded 68 investment deals, which is a worrying 57% drop from the peak activity in Q1 2022.

As a result, we’ve seen Axie lose a huge amount of value, with a discouraging 41% drop year-to-date (YTD). However, it hasn’t been a good investment for some time now, considering that it has lost 50% of its value over the past three years. Perhaps some of this could be attributed to a staggering $615 million cyber theft in March 2022 that compromised the integrity of the ecosystem. Consequently, these challenges have left Axie struggling to regain its former glory, casting a shadow over its future.

As of the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the advice of InvestorPlace.com Publication Guidelines.

As of the date of publication, the responsible editor did not hold (either directly or indirectly) any positions in the securities mentioned in this article.

Muslim Farooque is a passionate investor and an optimist at heart. A lifelong fan of video games and technology, he has a particular affinity for analyzing technology stocks. Muslim holds a Bachelor of Science degree in Applied Accounting from Oxford Brookes University.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.