On March 14, Bitcoin (BTC) soared to a record $73,750 apiece, a staggering 70% increase since the beginning of the year. But such a triumphant rally was short-lived as traders, seizing the moment to secure profits, initiated a trend of BTC weakness that extended to March 19. On Tuesday, the original cryptocurrency plummeted over $10,000 to close below $62,000, which caused a ripple effect across the broader market. Having recently surpassed the $4,000 mark for the first time since December 2021, Ethereum dropped over 11% post-Dencun upgrade. Similarly, Ripple and Dogecoin declined 12% and 19%, respectively.
This abrupt market plunge veils the crypto domain in an ambiguous cloud of skepticism. Investors and analysts expect volatile price actions and heightened trading volumes in March, hinting at potential pullbacks from Bitcoin’s long-term growth. Given that ETFs are increasingly absorbing available coin supply and diminishing market liquidity, crypto prices might fluctuate more frequently and undermine confidence in BTC’s pricing integrity. Though it has recouped some of its losses, Bitcoin is still down 9% in a weekly time frame.
So, savvy traders start shifting their focus to smaller-cap cryptocurrencies that, though not on par with Bitcoin or Ethereum in terms of market capitalization, present fresh investment avenues. Amidst the market upheaval, five specific tokens defy BTC’s downward trajectory and even register double-digit gains. Their reverse trend also shows notable monthly growth, drawing in those investors on the prowl for untapped prospects beyond the familiar crypto titans.
Choise.com (CHO)
Launched in 2022, the CHO token stands at the heart of Choise.com, the first ever MetaFi ecosystem that has evolved from Crypterium. Effectively, Choise.com fuses Crypterium’s renowned CeFi infrastructure with DeFi tools for increased earnings, acting as a fully licensed digital and crypto banking provider. Since Crypterium was established in 2017, Choise.com is a product of seasoned expertise and forward-thinking. Staying seven years in the field, the platform continually adapts and innovates to align with the dynamic needs of crypto and fintech enthusiasts globally. So, the CHO token itself not only stays resilient to market adversities, including the recent crypto winter, but also diverges its paths with the rest of the market during the recent downturn.
Over the past week, CHO spiked over 90%, contributing to an astonishing monthly increase of 320%. This fourfold gain translates to a notable ROI, meaning that a $100 investment made in late February is now valued at around $400. Currently, CHO is trading at approximately $0.56, with a market capitalization exceeding $6 million and a circulating supply of over 109 million tokens.
CHO token’s monthly performance. Source: CoinGecko
Based on the latest news and community chatters, two developments emerge as the major drivers fueling investor interest and boosting CHO’s value and attractiveness. First, it was speculated that Choise.com was on the verge of a revolution in its tokenomics. Additionally, the company’s expansion into the B2B arena was mentioned to possibly extend the CHO token’s utility in this profitable direction, already generating millions in revenue. Given the anticipated benefits to CHO holders and the token’s growing appeal in both the retail and institutional sectors, CHO will potentially see another jump of at least 200% in the short term.
r/CryptoCurrency Moons (MOON)
Moons, the native ERC-20 tokens of Reddit’s r/CryptoCurrency subreddit, serve as a unique and community-centric digital currency. Every month, users get rewards in MOON for individual contributions within the subreddit, measured by the Reddit Karma metric. Moons, however, possess real utility, so one can transfer, tip, and spend them within the r/CryptoCurrency community. With MOON tokens, users showcase their reputation, access exclusive features like badges and special GIFs, and wield greater influence in community polls, all through the acquisition of a Special Membership.
Over the past week, MOON’s value has escalated by 83%. As a result, the token saw a 306% increase over the month. Currently, each MOON is trading at nearly $0.47 with a market cap of $38 million and all 80,308,658 tokens in circulation. But while the complete circulation implies no additional tokens will be added, it also signals limited room for growth and an increased risk of price instability due to market fluctuations and sentiment changes.
MOON token’s monthly performance. Source: CoinGecko
Moons keep rising due to their integral role within the Reddit community. However, the token’s limited utility introduces volatility. Currently, MOON exhibits a 30-day volatility level of 42%, categorizing it as extremely volatile. This suggests that while the token holds potential for high returns, it doesn’t mean that it will stay firm should the broader market face downturns again. So, if you consider investing in MOON, keep in mind its narrow application scope and the associated risks.
Zebec Protocol (ZBC)
The ZBC token serves both as an utility and governance token of Zebec Protocol, a platform enabling real-time, seamless, and continuous payment streams. In essence, Zebec crafts new ways for companies to dish out paychecks while allowing people to invest and make purchases in a completely different manner. As a holder of ZBC tokens, one becomes an integral member of the Zebec DAO who can participate in shaping the protocol’s future through governance votes on administration, policy, and strategic priorities. In addition to governance roles, ZBC holders access a variety of benefits and incentives such as rewards, exclusive card products, and discounted rates on Zebec’s streaming services.
ZBC has gained 58% over the past week and an impressive 227% in the past month. Currently, it is changing hands at roughly $0.03 per token. ZBC has a deflationary nature, meaning that its total supply is gradually decreasing to ensure scarcity. To date, about half of the token’s total supply is in circulation. However, much like the MOON token, ZBC is subject to high volatility and its value depends more on overall market dynamics rather than solely the innovation of its underlying product. Therefore, even with its current growth trajectory, there’s no absolute assurance that the token’s resilience will endure in the long run.
ZBC token’s monthly performance. Source: CoinGecko
ZBC continues its upward trend, rising another 16% in the wake of the Zebec team’s ambitious plans to expand their user base and enhance their suite of fintech products. But there’s a cloud of uncertainty hovering over the project – Zebec’s credibility and investor trust might take a hit due to unclear details on whether it has licenses to provide crypto services or not. This, in turn, can cause the ZBC price to swing high or low in no time. Thereby, you can lose your money as fast as you can make it.
Boson Protocol (BOSON)
The BOSON token is the backbone of Boson Protocol’s governance system, as it facilitates consensus on crucial decisions and manages the distribution of funds from the dCommerce DAO between the participants. Boson tokenizes actual goods and services in the online shopping sector. In other words, it turns physical items into redeemable NFTs that are encoded with game theory to transform the way people sell and exchange them.
In terms of market performance, BOSON tokens, now valued at around $0.42, have shown a 21% increase over the past week and a 78% rise over the past month. The market capitalization of Boson Protocol now exceeds $48 million. Currently, there are 110 million BOSON tokens circulating in the market, which represents over half of the total supply and reflects a healthy level of liquidity in the market.
BOSON token’s monthly performance. Source: CoinGecko
The steady rise in BOSON’s value is proof of its strong, clear-cut roadmap, grounded on a strategy simply called “Adoption, Adoption, Adoption.” Boson Protocol released the new plan in March 2023 to showcase the ambitious growth it aims to achieve. Effectively, Boson Protocol wants to be a big part of your everyday buys, so that the phrase “Got this through Boson” becomes as normal as ordering coffee in the morning. But if you’re considering investing in BOSON, it’s smart to tread lightly. As of now, the token is not trading on any major, trusted exchanges, nor is it paired with any major fiat currencies. So, BOSON’s lack of a solid market presence could let it fall prey to fraudulent manipulations like pump-and-dumps.
Cere Network (CERE)
Cere Network is a decentralized hub for business needs, and it uses blockchain to keep operations private and secure. So essentially, Cere Network makes data instantly accessible to all business units, partners, and machine-learning processes through its Open Data Marketplace (ODM). The ODM itself operates devoid of the typical constraints and vendor lock-ins found in traditional systems. The CERE token is the lifeblood of Cere’s ecosystem. CERE holders are eligible for staking, governance, transaction execution, smart contract management, validator rewards distribution.
Looking at the market performance, CERE has increased by 5% over the past week, with a 33% rise over the past month. Currently, the token is valued at around $0.009. The market cap of Cere Network stands at over $61 million, with a substantial portion of its total supply – 6.6 billion out of 10 billion tokens – actively traded in the market. But despite these gains observed in a generally declining market, CERE’s performance still trails behind its initial sale price.
CERE token’s monthly performance. Source: CoinGecko
In recent developments, the inaugural General Assembly of the Cere DAO, which took place on March 8, is likely to support CERE’s sustained positive market trajectory. The General Assembly will give more power to the community of Cere Network to help shape where it heads next. However, similar to the BOSON token, CERE suffers from limited exposure on major crypto exchanges. The restricted scope of trading activities leads to increased susceptibility to market manipulation.
Final Words
The recent downturn in the broader crypto market was a period of unexpected opportunity for a select group of small-cap tokens. Despite the declines observed in Bitcoin and Ethereum, CHO, MOON, ZBC, BOSON, and CERE not only held their ground but outperformed many of the crypto giants. The stellar staying power of these tokens underlined their capacity to mix up investment portfolios when the market’s acting all shaky. But if you want to tap into the world of crypto investment, don’t forget to do your own research and tailor your strategy according to the specific risks and rewards that each token brings to the table.
While some of these cryptos, like MOON and ZBC, demonstrate a higher dependence on broader market trends, others, backed by robust products and technologies such as CHO, have greater prospects for sustained growth. The varying degrees of volatility, market exposure, and project maturity require a cautious and informed approach to investing. But the good news is that you can seize a compelling opportunity by participating in airdrops like that of Choise.ai where promising assets are distributed for free. Interested individuals can join waitlists to become eligible for a share of tokens in the run-up of any important events – a strategic move for those looking to maximize their profits with hidden crypto gems.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/03/top-5-small-cap-tokens-defying-the-crypto-market-downturn