Despite the Crash, These Altcoins are BOOMING

The previous crypto crash hit almost all cryptocurrencies. The market has been on a bull run ever since March 2020 and had few crashes every now as part of price adjustments. For very few coins, this is not the case. They seem to extend their uptrend, not caring neither for Bitcoin nor for the crypto market as a whole. In this article, we’re going to talk about the Altcoin Boom, and what they stand for.

Cardano (ADA)

This project is an interesting one. We previously wrote an article about the potentials of this one, predicting higher valuations towards the end of 2021. ADA currently reached its all-time high price of USD 2.2, and Cardano has today a market capitalization of USD 68.8 Billion. The project aims to bring a fairer way to store data and redistribute the power of the big players with the “regular people”. There is no better timing for this project’s goal.

Current Price: USD 2.2
Market Cap: USD 68.8 Billion
24H performance: + 19%
Market rank: #4

altcoin boom: ADA/USD 1-day chart — **Fig.1** ADA/USD 1-day chart – TradingView

Polygon (MATIC)

We’ve said how we at CryptoTicker are huge fans of this project. We even warned people to stock up on MATIC coins back when prices were less than USD 1. Today, prices are nearing the USD 2 price mark. The projects that utilize the Polygon chain are on the rise. Many even have very interesting use cases, and are trying to compete with the ones that use the Ethereum chain. Not only are projects choosing Polygon to host their Dapps, but they are even switching from other ecosystems in favor of Polygon’s scalability.

Current Price: USD 1.86
Market Cap: USD 11.3 Billion
24H performance: + 39%
Market rank: #19

altcoin boom: MATIC/USD 1-day chart — **Fig.2** MATIC/USD 1-day chart – TradingView

Polkadot (DOT)

This project is another one that partakes in the Altcoin Boom. In fact, Polkadot has a significant project base that looks promising and striving. This project is an open-source sharding multichain protocol that facilitates cross-chain transfer of data. This is a big use case in today’s divided blockchain community. Polkadot aims to bring this divided closer.

Current Price: USD 46
Market Cap: USD 44 Billion
24H performance: + 14%
Market rank: #8

Altcoin Boom: DOT/USD 1-day chart — **Fig.3** DOT/USD 1-day chart – TradingView

Conclusion

The above projects present very interesting use cases that would move the cryptocurrency industry forward. Ever since the beginning of this year 2021, they all seem to have been going on a strong uptrend. Despite the incredible performances in the past 24 hours, it is not very advisable to Buy any of the above coins, as they might suffer a price correction before going on their uptrends. The point of this article is to present the projects that are striving, and to show that their might be a hedging opportunity in the future. Bitcoin’s dominance is around 40%, the lowest it has ever been. Invest wisely and always follow the markets.

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Rudy Fares