Here Are The Crypto That Kept Green During The Bloodbath

- Advertisement -


The crypto market is bouncing back from another sudden move with Bitcoin, Ethereum and other major cryptocurrencies registering huge losses. In this dangerous environment of risk, a select few tokens are still in profit with the potential to continue swimming against the tide in the coming weeks.

- Advertisement -

At the time of writing, bitcoin is back in its range trading at $19,200, returning after a quick retest near its annual lows. Ethereum is following a similar trend, but there are still some losses to take with Cardano and Solana performing among the worst over the past 24 hours.

- Advertisement -

On the higher time frame, Cardano and Solana posted losses of 14% and 12%, respectively, over the past week. Notably, the ADA Hard Fork Combinator (HFC) failed to generate bullish momentum following the implementation of “Vasil”, leading to continued downside price action below the previously established support at around $0.40.

These Tokens Turn Profit as Big Crypto Trending Lower

- Advertisement -

Data from CoinGecko indicates that Huobi (HT), TerraClassicUSDC (USTC), Quant (QNT), and Maker (MKR) are the best performing assets in the region over a 7-day period. The first of these selected HT groups posted a 74 percent gain over the period.

Meanwhile, the algorithmic stablecoin of the failed Terra ecosystem experienced a 65% rally. While MKR and QNT have gained marginally north of 12% in the last week.

The first of these tokens, Huobi’s HT, is experiencing positive price performance on the assets of the exchange due to a potential acquisition from About Capital. Speculators are jumping into action based on the implementation of the token in new use cases and the platform’s ability to see the onboarding of new users.

TRON founder and diplomat Justin Sun, member of Huobi Global Advisory, Hinted at the possibility through his official Twitter account., In that sense, and similar to the price action of USTC, these tokens are showing positive price performance due to news-related events rather than fundamentals.

Out of the cryptos in the above group, MKR has the most potential to maintain its bullish momentum. MakerDAO and the MKR holders community are implementing proposals to improve the platform and its treasury system, backed by leading names in the industry.

Data from the Materials indicator shows that almost every investor segment bought into the price action of MKR during this trading session Flash Crash. This caused the price of MKR to bounce back from the low of $927 to its current level of $937.

However, the cryptocurrency needs support from large investors to increase its current bullish momentum. If the crypto market can stop the bears from taking action during the weekend, MKR could make a run up to the $1,000 price point.

Crypto Maker MKRUSDT
MKR price on rally in 4-hours chart. Source: MKRUSDT Tradingview





Credit : www.newsbtc.com

- Advertisement -

Recent Articles

Related Stories