Top 3 Trending Altcoins To Sell This Week

The current market conditions indicate a decline across several altcoins. Notably, Cronos, Aave, and Injective have shown significant bearish trends, following a broader market correction. Investors considering altcoins to sell may find this an opportune time, as the market hints at continued volatility. Such trends suggest a cautious approach for those holding these assets.

Altcoins to sell This week

Cronos (CRO)

Cronos (CRO), is the primary cryptocurrency of the decentralized Cronos Chain built by Crypto.com. Currently, the CRO price hovers at $0.08491. This represents a 4% decline over the last day. Additionally, the token has fallen by 7% in the past month and 5% over the previous week. These statistics position CRO among the top altcoins to sell this week. However, some of the Altcoins in the market are seeing a slight surge as bulls struggle to gain momentum.

This decline is closely tied to falling on-chain metrics like daily active addresses, transaction count, and network growth. These metrics have shown a downward trajectory over the past few months. Although transaction volume has seen occasional spikes, the overall weakening in user engagement is evident. The slowing network expansion indicates a lack of sustained interest in the Cronos ecosystem. 

Aave (AAVE)

Aave (AAVE), a prominent decentralized finance protocol, is currently priced at $127.10, reflecting a 4% drop in the last 24 hours. Ranked 47th on CoinMarketCap, Aave has a market capitalization of $1.89 billion. Over the past week, Aave’s price has decreased by 1%, suggesting it may be a candidate for selling in the altcoin market.

The recent movements in the MVRV (Market Value to Realized Value) ratios over both 30-day and 365-day periods reflect an increased vulnerability. The MVRV ratio, particularly in the 365-day range, has remained negative, indicating that long-term holders are currently at a loss, a typical sign of a prolonged bearish phase. 

As the altcoin continues to hover within a critical zone, the lack of positive momentum suggests further declines could be on the horizon. The recent drop in the 30-day MVRV ratio further reinforces this sentiment. Despite a brief recovery, it remains precarious, potentially leading to increased selling pressure.

Injective (INJ)

Injective (INJ), a layer 1 blockchain specifically tailored for finance, is experiencing a significant market downturn. The INJ price is currently trading at $20.38, reflecting a 6% decline in value. Over the past month, the token has dipped by 21%, marking a noticeable downtrend. This significant drop has led to Injective becoming one of the trending altcoins to sell this week.

The INJ price continues to decline, driven by a consistent drop in network activity. A significant decrease in active addresses and network growth metrics highlights this bearish sentiment. Although there are occasional spikes in trading volume, overall market confidence in INJ remains low. The price is hitting lower lows, indicating further sell-offs and reduced interest from new participants. 

In conclusion, considering their sale might be wise given the current market conditions for those holding these altcoins. This strategy could help mitigate potential losses as the market continues to adjust.

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Coingape Staff

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.