The cryptocurrency world has been navigating a dilemma about the future prospects of an upcoming quarter. Which is now just over a fortnight, and the people of the company have been outlining their strategies. The dilemma between investors and traders stems from geopolitical tensions, Fed rate hikes, executive order and parliamentary votes in Europe.
Subsequently, people are now leaning more towards digital assets other than Bitcoin and Ethereum. Which has been evident since last year as BTC and ETH volumes have been falling. On the contrary, FTM, ADA and XMR are finding the interest of the buyers, who are optimistic that they will sustain the turbulence to a greater extent.
Are FTM, ADA and XMR the altcoins to consider this bear season?
Fantom has been welcoming a lot of new users lately. The network had seen 261 new FTM addresses as of March 10, 2021. A year later, Fantom saw the creation of 15,675 new addresses, representing a daily increase of 5,905.75%. learning from whale statisticsthe network had recently flipped Shiba Inu with the highest trades of 500 largest whales in 24 hours.
Successively, Fantom has also had the most 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. 24-hour trading volume increased 56.43% to $761,120,193. Pundits are optimistic about the exhaustion of the downtrend, which could result in bullish momentum.
The number of Cardano addresses on the network is nearing its 3.5M milestone. At press time, the address count is 3,494,888. The network could possibly claim the goal per week. However, there are only 136,438 active addresses, which suggests that most of these addresses have ADA.
Successively, Cardano’s TVL has been on the rise since the beginning of the year. The protocol has spiked from its 40th position in January to its current range of 25th with a TVL of $270.62. charles hoskinson in a reply to a tweet he cites that, many Cardano dApps are looking forward to the Vasil Hard fork in June. Which could further enhance the TVL of the network.
Previously, the team had warned that more than 500 projects are being developed on the network. And that most of the projects belong to the NFT space. Hitting the ADA price, the digital asset could exhaust its downtrend, opening the doors for a rebound. The altcoin at press time is trading 1.97% higher at $0.8095. ADA 24-hour trading volume increased by 134.13% during the day.
Monero has recently seen double-digit gains amid the tight economy. This comes to the liking of privacy-focused digital asset investors. The industry has leaned more toward such assets amid the turmoil. These assets promise safe financial transactions from regulatory scrutiny.
Monero is now available with a lower price, post your heroic run on the charts. XMR price at press time is changing hands at $181.48, down 2.69%. Monero’s all-day trading volume is down 29.86% for the day at $194,701,896.
In short, the aforementioned altcoins have the potential to weather the turmoil in the business. In addition, these also become ideal bags for the long run. Such reasons could possibly help digital assets safeguard funds to a greater extent.
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This post Altcoins like FTM, ADA and XMR to protect an incoming 30% crash!
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