• 17 July, 2024
Market News

5 Altcoins Fallen -95% from the ATH, Buy Time is Now

The world’s largest cryptocurrency Bitcoin (BTC) has reportedly soared 23% in March 2023. BTC’s impressive rally can be attributed to the mid-March U.S. banking crisis and a subsequent fall in Federal Reserve interest-rate anticipations.

Bitcoin soared beyond the $29,000 price point in the first-half of Thursday, but soon fell to $28,300 exhibiting a two-way move, much like the early 2021 volatile bull market. With the BTC rebounding (up +4.4% in 7 days, per CoinGecko), altcoins, most notably CSPR, KLAY, FIL, GLMR, and ICP (all down almost 95%), might follow suit.

Casper Network (CSPR)

As per Casper Association program manager Piotr Dziubecki, a Ripple and XRPL partnership is reportedly in the works. On the occasion of the Invest Cuffs 2023 event held recently in Poland, the said hint of the potential partnership was floated.

Sharing the breaking news, internet entrepreneur and cryptocurrency investor Mason Versluis tweeted:

Launching the proof-of-stake (PoS) enterprise blockchain in May 2021, the features offered by Casper Labs’ include smart contracts’ upgradability, hosting permissioned applications, network fees’ predictions, and simplified programmability with WebAssembly (WASM). These features have appealed to big corporations and government institutions.

With a market cap rank (MCR) of #108 on CoinGecko (CG), CSPR’s all-time high (ATH) is $1.33. Trading at $0.03706085 at press time, from its ATH, CSPR is down -97.19%, per CoinGecko.

Klaytn (KLAY)

Klaytn is a public blockchain with a focus on metaverse, GameFi, and the creator economy (from 2019-2020). Down 94.56% from its ATH of $4.34 per CoinGecko, KLAY is trading at $0.230345 at press time. With a CG MCR of #70 on CG, KLAY’s max chart on CG displays a healthy performance. 

There are no immediate jumps in KLAY’s price, but a reasonable run-up from 2020—trading at $0.110780 on March 31, 2020, per CG. A major run-up ensued in the 2021 bull market when KLAY was trading at $4.24 on March 31, 2021.

Lately, KLAY has announced the launch of its “Metaverse Knowledge Kit” to assist developers and enterprises in building “Seamless Metaverse Applications.” KLAY reaching again at or near the $4.34 price point can easily be a 20x gain.

Filecoin (FIL)

The decentralized storage network based on the IPFS protocol, Filecoin (FIL) has kissed an ATH of $236.84. With a CG MCR of #30, at press time, FIL is trading at $5.60, down -97.63% from its ATH.

Essentially a money generating company, Filecoin’s FIL coin peaked on April 2, 2021, to $187.61, with another bull run to touch $113.61 on September 6, 2021. Notably, even small peaks in FIL’s price managed to garner a hundred dollar price point, making a 20x quite possible.

Filecoin might soar with its FIP0056 update whilst the Filecoin Virtual Machine (FVM) release is soon anticipated.

Moonbeam (GLMR)

Market analysts predict the Moonbeam (GLMR) token to touch the $0.841 price point by the end of 2023. GLMR’s ATH, as per CG, is $19.50, with its MCR being #179. A potential 20x to 30x coin, GLMR is -98.11% down from its ATH, and is trading at $0.366934 at press time, CG data shows.

Internet Computer (ICP)

A radical paradigm shift in blockchain technology, ICP is ranked in CoinGecko’s top 50 category. ICP’s MCR is an impressive #42, with an ATH of $700.65. At press time, ICP is trading at $4.99, as per CG. Touching the $700+ price point again might be tough for ICP, but its price points in the $100 to $200 range might still be possible.

The strategy recommended to be followed as we approach the bull market is to focus on the top 100 or 200 coins that are significantly down, and not the top 5000 coins.

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