The crypto market has taken yet another plunge on the market charts. Wherefore, the market cap of the business has taken a fall of 40.4% over the day. Taking the numbers away from the bulls to $1.77 Trillion. The implications of which are evident in the market sentiments. That has lowered the fear and greed index to extreme fear, over the past couple of days.
The crypto industry has been dwindling in fear and anxiety, with a current score of 23. The market-wide volatility and uncertainty are influencing investors and traders to stick to fundamentally sound projects. As a result of which, folks are now keen on capable digital assets such as AVAX, MATIC, and SOL.
Are These Altcoins The Only Way Out For A Confirmed Surge?
Avalanche (AVAX):
AVAX price at the time of press is changing hands at $71.78, with gains being negative at 5.9%. Whilst the market cap of the digital asset is at $19,086,113,977. The volume of trades for 24-hours is at $751,242,732. AVAX price has been trading in the 24-hour frequency from the lows of $70.77 to the highs of $76.47.
AVAX despite the tough year, is up 187.2% over the year. And is trading 32.24% higher than its cycle low of $54.33, which was recorded on the 22nd of January. The daily transaction count has been taking a fall-of-late, the count as of March 6th is 1,005,864. Wherefore, the total transaction count is 119.68 M.
Conversely, network utilization has been escalating to an appreciable degree since the start of the year. However, the numbers have been taking a dip since the past week. The utilization of the network is currently at 41.65%. On the other hand, the inflation rate of the altcoin is at 23.52%.
Polygon (MATIC):
The digital asset at the time of press is trading at $1.42 while incurring losses of 5.2%. The market cap of MATIC is currently at $9,736,405,455. Coming to the volume of trades, the numbers for 24-hours is at $1,016,223,912. The altcoin has been trading in the 24-hour bandwidth from $1.40 to $1.50.
MATIC’s price remains 564.1% higher than its valuation a year ago. And is up 12.33% from its cycle low of $1.26, recorded on the 24th of February 2022. The inflation rate of the altcoin is at 13.18% presently. Conversely, the daily transactions of Polygon have been steadily rising, since its bottoms on the 26th of February.
Successively, post a pullback of the transactions as of March 6th the daily transaction count is at 2,738,351. With an average block time of 2.25. The network utilization has been sailing the rough tides of late. Which can be seen reflecting on the charts, the numbers on the 6th of March stand at 35.49%. Which is still above that recorded on the 20th of February at 31.77%.
Solana (SOL):
SOL price at the time of press is changing hands at $82.86, with gains being negative at 6.2%. Whilst the market cap of the digital asset is at $26,635,706,581. The volume of trades for 24-hours is at $1,360,299,435. SOL price has been trading in the 24-hour frequency from the lows of $81.81 to the highs of $88.84.
The altcoin is presently up 8.30% from its cycle low of $76.63, which was on the 24th of February 2022. SOL price is 534.4% above its 12-months old trade price. The inflation rate of the digital asset is at 9.23%. Conversely, the total transaction is at 61,638,466,971, with the current TPS at 2,903.
In succession, the market cap dominance of Solana has been sticking onto its average levels for the past few weeks. As of press time the market cap dominance is at 1.50%. Talking about Solana’s NFTs. The new daily NFTs minted is on a gradual rise, with issuance at 43.43k as of March 6th. The hourly TPS and success rate as of the same day is 2,640.74 and 83.93% respectively.
Summing up, as previously said the folks from the business are keen on fundamentally strong projects. AVAX, SOL, and MATIC are some of the potential altcoins, which are ought to be considered. Moreover, the digital assets holding onto numerical despite the volatility instils faith and optimism around the projects.
Source: https://coinpedia.org/altcoin/altcoins-like-avax-sol-matic-primed-to-surge/