The world of cryptocurrencies has been sailing in a dilemma over the future prospects of an incoming quarter. Which is now just over a fortnight’s time, and folks from the business have been chalking out their strategies. The dilemma amongst investors and traders comes from the geopolitical tensions, FED’s rate hikes, executive order, and Europe’s parliamentary votes.
Successively, folks are now inclining more towards digital assets other than Bitcoin and Ethereum. Which has been evident since the bygone year, as the volumes of BTC and ETH have been dropping. Conversely, FTM, ADA, and XMR are finding the interests of buyers, who are optimistic of these sustaining turbulence to a greater extent.
Are FTM, ADA, And XMR The Altcoins To Consider This Bear Season?
Fantom (FTM):
Fantom has been welcoming a host of new users of late. The network had seen 261 new FTM addresses on the 10th of March, 2021. A year later, Fantom saw the creation of 15,675 new addresses which is a 5905.75% daily increase. Learning from Whalestats, the network had recently flipped Shiba Inu with the highest trades by 500 biggest whales in 24-hours.
Successively, Fantom has also had the highest number of transactions among the top-1000 Ethereum wallets in 24-hours. FTM price has been hinting at buy signals after its recent cycle low of $1.08. The 24-hour trade volume is up 56.43% at $761,120,193. Savvies are optimistic around the exhaustion of the downtrend, which could result in a bullish impulse.
Cardano (ADA):
Cardano’s number of addresses on the network is nearing its 3.5 M milestone. As of press time, the count of addresses is at 3,494,888. The network could possibly claim the target by the week. However, there are only 136,438 active addresses, which hints that the majority of these addresses are holding ADA.
Successively, Cardano’s TVL has been rising up since the start of the year. The protocol has shot up from its 40th position in January to its current rank at 25th with a TVL of $270.62. Charles Hoskinson in a reply to a tweet cites that, many Cardano dApps are waiting for the Vasil Hard fork in June. Which could further empower the TVL of the network.
The team had earlier brought to notice that over 500 projects are under development on the network. And that most of the projects belong to the NFT space. Coming to ADA’s price, the digital asset could exhaust its downtrend, opening doors for a rebound. The altcoin at the time of press is trading 1.97% higher at $0.8095. ADA’s 24-hour trade volume is up 134.13% over the day.
Monero (XMR):
Monero has recently seen double-digit gains amidst the tight economy. This comes as the liking of investors on digital assets focussing on privacy. The industry has been inclining more towards such assets amidst the turmoil. These assets promise secure financial transactions from regulatory scrutiny.
Monero is now up for grabs with a lower price tag, post its heroic run on the charts. XMR price at the time of press is changing hands at $181.48, which is down 2.69%. The trading volume of Monero around the clock is down 29.86% over the day at $194,701,896.
Summing up, the aforesaid altcoins hold the potential to stand up against the turbulence in the business. Moreover, these also make up to be ideal bags for the long run. The said reasons could possibly help the digital assets safeguard the funds to a greater extent.
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Source: https://coinpedia.org/altcoin/altcoins-like-ftm-ada-xmr-to-safegaurd-an-incoming-30-crash/