The cryptocurrency market has suffered a 3% drop in its total cap in the past day and at $1 trillion, it has also fallen by 2.5% in a week and by 16% in a month.
These falls have occurred within a context of rising inflation and interest rates, suppressing global stock markets as well as crypto. However, given that the market downturn isn’t for fundamental reason, continuing falls merely introduce discounts that create the conditions for bigger rebounds.
Accordingly, here’s our selection of 5 cryptocurrencies that could see a price boom this month.
IBAT has fallen by 3% in the past 24 hours, dipping to $0.00343016. This represents a 9% drop in a week and a 25% fall in the past fortnight. IBAT also happens to be 38% below its ATH of $0.00554060, set on August 30.
Although this isn’t anywhere near as big a drop from a record high as seen with more established coins.
IBAT is one of the most promising new altcoins on the market. It quickly attracted listings since selling out its presale in early August, becoming tradable for the first time on August 17th, via PancakeSwap.
LBANK Exchange has also listed it more recently, as well as DEX Coin98. More listings are due soon, all of which will provide it with the liquidity to witness further gains.
Based on Binance Smart Chain, Battle Infinity is a sports-themed gaming metaverse. Still under development, it will feature a variety of NFT-based games, including the IBAT Premier League.
The latter will enable players tp build their own fantasy sports teams made up of NFTs of real-life athletes. Said teams will compete against each other, with winners receiving crypto-based rewards.
In time, Battle Infinity will also grow to incorporate other crypto and NFT-based games. On top of this, it will also involve a staking feature, which is now due to launch on September 24.
This is in addition to its own DEX, and an NFT marketplace. Taken together, this should help make Battle Infinity’s ecosystem a busy and thriving one.
At $1,464, ETH has sunk by 8% in the past 24 hours, as a post-Merge bull rally failed to materialize. It’s also down by 10% in a week and by 22% in a month.
ETH’s indicators suggest it’s nearing a bottom and that it’s significantly undervalued.
Indeed, the gains it made in the weeks leading up to the Merge have mostly been cancelled out, even though its shift to proof-of-stake was completed without a serious issue.
Despite its slip in the past day, there’s little doubt ETH is one of the likeliest major coins to do well this month. Now that the Merge is complete, the altcoin has already become deflationary.
Once Ethereum staking increases in popularity and the platform has settled into PoS, it’s likely that more investors will seek it out. On top of this, its developers can now concentrates on upgrades that will make it more scalable and cost-effective.
This, in turn, will increase Ethereum adoption, although the platform is already the biggest layer-one in terms of total value locked in. Its dominance is therefore likely to increase as it begins to reap the benefits of PoS.
BTC has also fallen in the past 24 hours, by 2%. This puts its price at $19,790, meaning a 2% gain in a week and a 17% fall in a month.
BTC’s indicators also reveal something that looks like a bottom. With its relative strength index (in purple) at 40 and its 30-day moving average (red) below its 200-day (blue), it certainly looks like it’s due a rebound.
And if any coin is going to lead a new bull market, it will be BTC. It remains very strong in terms of its fundamentals. Not only are its deflationary tokenomics and highly secure network two of its biggest strengths, but it continues to attract interest from financial institutions.
A large number of banks have rolled out bitcoin custody or brokerage services to date, while massive asset manager BlackRock launched its own private bitcoin fund last month.
These developments create the conditions for a large influx of new money into the bitcoin market once macroeconomic conditions pick up. And with inflation already easing very slightly in the United States and elsewhere, such a turnaround could begin from the end of this month.
SOL has dropped by 3.5% in the past day. At $32.79, it has also slipped by 2% in a week and by 24% in the last 30 days.
SOL is also in a position where, from a purely technical standpoint, it’s likelier to rise than fall again. Of course, with the global economy still in a precarious situation, timing remains a difficult issue.
Nonetheless, after a difficult 2022 that confronted it with numerous outages, Solana looks to have turned a corner. It has implemented various updates that will make it more reliable going forward, while it has also begun announcing several important integrations.
This means that the excessive drops of the past few months could be reversed by the end of the year, with SOL’s current discounted price likely to make at least a few traders a nice profit sooner or later.
TAMA is one of the more interesting new altcoins in the market. Based on Ethereum, it’s the native token of the pet-themed Tamadoge metaverse, where users will be able to mint NFT-based pets, nurture them and battle them with each other.
Its presale kicked off in early August, and has just entered its very last phase. Even though it has already passed its initial target of $2 million, it continues selling more TAMA and passing new thresholds, with the latest count putting it at a raise worth $17 million.
Anyone still interested in investing in TAMA early can do so via its official website in exchange for either ETH or USDT.
TAMA has strong fundamentals for a meme coin, which largely come from its surrounding metaverse. The latter offers play-to-earn features, with players able to battle their Tamadoge pets and earn rewards for doing so.
On top of this, they can also sell their NFT-based Tamadoges on the secondary market, offering real potential for profits.
TAMA has also announced its first exchange listing, which will be on LBANK exchange once the presale ends. This is impressive in light of the fact that its presale hasn’t even ended yet, as is the fact that Tamadoge already has over 65,000 followers on Twitter.
It joined the social media site only in July, suggesting that it could have a very good September once it begins its first listing on LBANK.
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