Altcoin
Altcoin Market Cap Sees Its Lowest Drawdowns Ever Amid Continued Heightened Volatility
Many altcoins continue to experience sharp price decline, triggering uncertainty among investors about the much-anticipated altseason. As these tokens decrease further, their weak performance has negatively impacted the overall alt market value, leading to one of its biggest drawdowns in history.
Record-Low Drawdowns In Altcoin Market Cap
As negative sentiment grows in the crypto sector, the altcoin market is facing unprecedented challenges in terms of growth. In a recent post, world-leading on-chain data and financial platform Glassnode pointed out a troubling development in the alt market dynamics.
Despite expectations of a market-wide rebound, altcoins are still having difficulty because of shifting moods and macroeconomic uncertainty. Investor caution persists as many choose safer investments, further impeding any possible comeback for alts.
Data from Glassnode reveals that the alt market cap has declined by over $234 billion in the past 2 weeks, reflecting a period of heightened volatility. This broad-based capitulation represents one of the biggest absolute drawdowns the market has ever seen in recent history.
It also highlights the ongoing weakness across the sector, with few assets holding up. Should the decline extend, the development could shape the market’s next trajectory in the upcoming weeks as volatility persists.
Furthermore, Glassnode noted that the market drawdown is one of the 41 worst moments in about 1662 trading days in terms of percentage. Although it seems severe, it is nevertheless consistent with major sell-offs in 2024. Also, it is significantly less severe than the LUNA/3AC collapses in late 2022 and the miner migration in May 2021.
The altcoin market is currently displaying potential for more correction since major alts failed to initiate a notable rally amid unfavorable conditions. Meanwhile, Bitcoin, the largest crypto asset is still more robust in the waning environment.
Bitcoin’s strong resilience is solely evidenced by investors’ realized losses in the ongoing cycle compared to past scenarios. Glassnode outlined that BTC investors locked in about $520 million in realized losses, which is one of the largest of this cycle. However, while the figures seem huge, it is far below the $1.3 billion recorded during the August 2023 yen-carry whirlwind.
Is The Alts Market Drop A Crucial Move For An Impending Breakout?
The altcoin market decline has caused fear and uncertainty among investors and crypto enthusiasts. Thus MilkyBull Crypto, a market expert and trader addressing the development claims that the drop is crucial for the market’s next trajectory.
This drop comes after the market reached a new all-time high. According to the expert, this is likely a retest before the market will experience a higher run. As a result, the expert urges investors to be steadfast as he foresees a surge to $2.9 trillion market value in the coming months.
Featured image from Unsplash, chart from Tradingview.com
The XRP community is abuzz with excitement as the Securities and Exchange Commission (SEC) acknowledges the third XRP ETF. Recently, the SEC acknowledged Bitwise’s XRP ETF, sparking hopes of a major breakthrough in the XRP price. Despite XRP’s current bearish trend, analysts and market experts remain bullish about the price’s potential ascendance into a new high.
Analysts Predict XRP Price’s Surge to $5
Aligning with the overall crypto market trend, the XRP price is currently hovering in a bearish zone. However, analysts remain optimistic about XRP’s future trends. For instance, Dark Defender, a prominent crypto analyst, forecasted XRP’s next significant Fibonacci level at $5.85.
According to the analyst’s X post, the XRP price has successfully broken through two white resistances, targeting the significant $5.85 mark. If XRP realizes Dark Defender’s prediction, the token will see a staggering uptick of 261.80%.
Another crucial Fibonacci level of XRP is at an ambitious $18.23 point, marking an aggressive surge of 361.80%. Thus, the analyst stays confident about XRP’s potential uptrend.
SEC Acknowledges Bitwise’s XRP ETF
In an astounding development, the Securities and Exchange Commission (SEC) acknowledged Bitwise’s XRP exchange-traded fund (ETF). The crypto space widely celebrates the move, expecting it as a bullish sign for the XRP price.
This marks the third XRP ETF to receive SEC acknowledgement, with Grayscale and 21Shares’ XRP ETFs having received acknowledgments earlier. Last week, the SEC acknowledged the XRP ETF application submitted by 21Shares.
Increasing Institutional Adoption Impacts XRP Price
XRP is experiencing heightened institutional demand, with several major players making moves to capitalize on its potential. Grayscale has filed to convert its XRP Trust into an ETF, while CBOE and Nasdaq have submitted 19b-4 filings for XRP ETF listings.
In addition, stock exchange MEMX submitted a filing to the SEC to list an XRP ETF, designating it as a commodity-based trust. This classification aligns with previously approved Bitcoin and Ethereum ETFs. Despite these positive moves, the SEC’s approval of the XRP ETFs remain uncertain.
Market Trend Signals New Highs Ahead
As of press time, XRP is trading at $2.50, with a daily decline of 5.18%. However, over the past week, the XRP price has experienced a 4.5% surge despite a 21% monthly dip. With a 4.2% increase in its 24-hour trading volume, currently at $5.08 billion, XRP continues to attract investors.
Strengthening Dark Defender’s analysis, experts like Solberg Invest posit that XRP is “on the verge on something big.” According to his analysis, the XRP price could hit $4.4 in near future.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Another crypto market crash is occurring, with the Bitcoin price dropping below the crucial $95,000 support level, dragging altcoins like Ethereum, Solana, and the XRP price along with it. This price crash has occurred mainly due to the bearish sentiment in the market, thanks to several factors.
Crypto Market Crash: Why BTC, ETH, SOL & XRP Are Down
CoinMarketCap data shows that a crypto market crash is occurring again, with the Bitcoin price dropping below the psychological $95,000 level. Altcoins like Ethereum, Solana, Dogecoin, and the XRP price have also significantly declined.
This price crash has occurred due to several factors, including global economic uncertainty. For one, US President Donald Trump continues to threaten to impose tariffs on other countries. Yesterday, the president announced that he has decided that for the purposes of fairness, he will charge reciprocal tariffs on countries that charge the US.
This continues to raise concerns about trade wars, which is bearish for the crypto market. Meanwhile, the bearish sentiment in the market is also due to the US Federal Reserve’s quantitative tightening policy, with no hopes of monetary easing policies anytime soon. Traders predict that there will be only one Fed rate cut this year, which is unlikely to come until the second half of the year.
These developments sparked a bearish sentiment among investors, ultimately leading to this crypto market crash. The Bitcoin price has struggled to reclaim $100,000 for a while now and now even looks more likely to touch $90,000.
Bearish Factors In The Market
Besides the uncertainty on the macro side, other developments have led to the crypto market crash. Crypto analyst Ali Martinez recently revealed that the capital inflows into Bitcoin and Ethereum have declined by over 30% in the past month, dropping from $45 billion to $30 billion.
This indicates that there is a lack of liquidity in the market to sustain higher prices. Investors look to be holding off on allocating more capital to the market due to the bearish sentiment. Instead, more investors look to offloading their coins as the market likely priced in to Donald Trump’s administration even before he took office.
Moreover, some community members believe that Trump’s administration has fallen short of its promises to the crypto industry, considering that the Strategic Bitcoin Reserve initiative hasn’t yet happened.
Amid this crypto market crash, Martinez has also suggested that the market could witness lower prices, as he revealed that prolonged price corrections have historically followed a decline in Bitcoin mining activity.
Away from the Bitcoin ecosystem, the bearish sentiment in the Solana sentiment also looks to be at an all-time high (ATH) following the LIBRA meme coin rug pull. Traders allegedly lost over $286 million to the rug pull, which has further sucked liquidity out of the crypto market.
This development has further dampened investors’ confidence, especially considering Argentina’s President Javier Milei promoted this meme coin on his X account. This saga has raised the ghosts of the TRUMP and Melania meme coins, which sucked liquidity from the market just before Donald Trump took office.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto king’s volatility is the lowest it’s been in years, valued between $91K and $109K since November 2024, signaling a Bitcoin breakout.
As measured by the Choppiness Index, $BTC has not experienced such a tight consolidation since 2015. The indicator signals low volatility, which, historically, can spur tremendous price movements – either north or south.
With the market being in somewhat bullish territory, partly owing to Donald Trump’s friendlier crypto regulations, there’s a high chance that the Bitcoin breakout will include rocketing movements.
And when $BTC spikes, other cryptos usually follow suit. Newer low-cap projects like $BTCBULL and $MEMEX also have what it takes to reach for the stars.
1. BTC Bull ($BTCBULL) – Win Free Bitcoin Every Time It Breaks a New Record
Imagine winning free Bitcoin for less than a dollar – buying Bitcoin Bull’s native coin makes this possible.
To snag free $BTC, you need buy $BTCBULL on presale through Best Wallet (currently available for just $0.00237). Then, you’ll be granted the OG coin every time $BTC breaks a new record, including $150K and $200K.
Considering that The Motley Fool predicts that Bitcoin will reach $200K by this year’s end, these rewards are feasible.
Moreover, holders will be offered extra $BTCBULL when $BTC reaches $250K, making its presale a great opportunity for those who want to diversify their crypto portfolios effortlessly.
Further propelling $BTCBULL’s attractiveness is that every time $BTC goes up $25K, it’ll burn (take out of circulation) a portion of its total token amount, of which 15% is set aside.
Scarcity usually attract greater demand. Beyond dishing out free $BTC, it’s another answer to enhancing $BTCBULL’s price, and, therefore, the project’s sustainability.
$BTCBULL has already raised over $2.2M and its price will go up tomorrow, so now signals an opportune time to get involved.
2. Meme Index ($MEMEX) – Meme Coin Indexes Catering to High and Low Risk Traders
Next up on our list is $MEMEX, owing to being the backbone of Meme Index – a novel ecosystem that will soon consist of the world’s first decentralized meme coin indexes.
Interestingly, its meme indexes are being designed to suit all traders, spanning from the most conservative to ultra-risky investors.
Look at the Meme Titan Index, for example. It’ll spotlight well-known meme coin juggernauts that are safe investments. In stark contrast, the Meme Frenzy Index is getting set to feature the highest-risk meme coins that have the greatest reward potential.
Beyond gaining access to these meme coin baskets, $MEMEX is a governance token. After buying the coin, you’ll be able to vote on which tokens you want to feature in the project’s indexes.
To get involved, all you need to do is buy $MEMEX on presale, which is available for just $0.0162933. Considering that its price is predicted to reach $0.75 by the end of the year (over a 4,503% spike), it’s a bargain price.
3. Best Wallet Token ($BEST) – User-Friendly Crypto Wallet With 161% Staking Rewards
Another one of the best presale tokens with great profit potential is $BEST, thanks to giving Best Wallet users exclusive advantages.
Best Wallet is a user-friendly, non-custodial crypto wallet that features presale tokens, setting it apart from industry giants like MetaMask.
Other perks of the crypto wallet include not requiring KYC verification (a boon for security-conscious traders), and soon supporting 60+ blockchain networks to make all digital assets manageable in one safe space.
Nonetheless, buying $BEST opens the best benefits: lower transaction fees, community governance, and higher staking rewards (currently at a commendable 161%).
Considering that the Best Wallet token presale has already attracted over $10M, despite one $BEST costing $0.024025, it already shows notable financial upside.
4. FirstBroccoli ($BROCCOLI) – Zhao Changpeng Inspired Dog Coin Spikes 135%
Also worth eyeing is $BROCOLLI, which has spiked by a hefty 135% since yesterday.
$BROCOLLI is inspired by the dog of the former Binance CEO, Zhao Changpeng – they even share the same name.
By playing a light-hearted homage to Changpeng’s pet, $BROCOLLI aims to unite a creative community on the Binance Smart Chain.
Coins shaped by famous figures are often successful in the crypto realm, signaling prosperous times for the coin. Just look at Donald Trump’s coin. It has a whopping $3.31B market cap, despite dumping by 72% on the monthly chart.
Considering $BROCOLLI has a $45.8M market cap, it’s also not to be sneezed at.
It’s also a low-cap option, listed on several exchanges (including PancakeSwap and Uniswap) for roughly $0.043.
A Bitcoin Breakout Could Propel New Coins Like $BTCBULL
With the crypto market anticipated to spike following a favorable Bitcoin breakout, hot new tokens like $BTCBULL and $MEMEX could rise high because they offer novel opportunities.
For instance, on top of capitalizing on Bitcoin’s success, $BTCBULL is getting ready to dish out free $BTC, making it a great opportunity for those who want to snag crypto without spending a penny.
Each of our chosen crypto projects offers something engaging. However, this is not investment advice. You must always do your research and never spend more than your piggy bank allows.
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