The crypto town has been struggling to rebound from the clutches of the bears. While merchants from the town have rolled up their sleeves to make business irrespective of the market trends. While altcoins are capable of making riches out of little investments, traders have been failing to strategize their moves.
Buying the bottoms and selling the tops seems too good to be true in the real world. As trading involves innumerable factors and limitations which hold back from attaining the best.
It is easier said than done, as most don’t really know what to buy and what not to. Successively, traders need to look out for fundamentals, developments, roadmap, utility, community strength, and prominence, which have to be in chronological order.
Are These Altcoins The Footway To The Moon?
Fantom (FTM):
Fantom has been raging ahead of its rivals and some of the class above at a brisk pace. As previously reported, Fantom’s growing TVL, robust fundamentals, utility, and initiatives with DEXs have propelled the network. In addition, the compatibility with EVM has garnered the interest of many users.
FTM price at the time of press is changing hands at $2.35 with gains of 20.0%. While the volume of trades for around the clock is up by 35.06% at $2,253,537,226.
The market cap has also caught wind, with gains of 19.67% taking the numbers to $5,968,297,892. The ATH still remains distant by 31.30%. The price action has been hinting at a possible reversal to the north.
Cosmos (ATOM):
Cosmos is now one of the alts which has been moving against the wind, the digital asset has been welcoming purchase orders at lower levels. Cosmos-based tokens have been scripting healthy gains.
In recent times, we have come across Cosmos ETP going live after 21 shares announced their listing. U.S banks planning on launching their stable coins built on the Cosmos SDK chain.
In addition, a host of updates are in the pipeline such as Interchain security, liquid staking, DeFis, NFTs, and more. Moreover, Cosmos holders have been receiving numerous airdrops on a frequent basis.
ATOM’s price at the time of writing is trading at $36.05 with gains at 17.9%. The market cap of the asset is at $10,327,464,694, while the volume of trades for 24-hours is at $3,364,078,296.
The price of the asset has been fairing well despite the turbulence in the market. The ATH was last achieved about a week ago at $44.45, which ATOM falls short by 18.9%. On the other hand, the YTD returns are at 338.7%.
Decentraland (MANA):
Decentraland has been an ace runner in the world of the metaverse, the protocol has made its presence count the previous year. The digital land parcels being sold, the alliance with electronic giant Samsung have accompanied virtues to the protocol.
Decentraland has been tweaking its offerings, this time the project presents My Store, which lets users manage, track collections, and build personal brands.
MANA at the time of writing is trading at $2.08 with gains at 11.76%, while the trade volumes for 24-hours are up by 22% at $581,374,222. The market cap is hovering at $3,787,170,561. The ATH of the digital asset remains distant at 64.2% at $5.85. However, the YTD returns are at 1117.6%.
Concluding, filtering the appropriate alts has been growing as a tedious task, as the space has numerous projects on offer. While some are high returns yielding chips with no utility, some are high on utility and fundamentals but lack the price thrust.
Finding a balance between the two has been challenging to the investors. That said, free money tokens would vanish from the markets, and projects with utility would reside.
