- Santiment report indicates the altcoin market downturn since August 17th.
- Bounce Token faces decline, and Linear Finance emerges promisingly.
- Serum sees a steady rise; memecoin Pepe faces a significant drop.
The cryptocurrency market has experienced a significant downturn since August 17th, with altcoins bleeding out. However, recent reports from Santiment, a market intelligence platform, suggest that the worst may be over, at least for now. While most altcoins have struggled to recover, certain assets such as AUCTION, LINA, and SRM have emerged as particularly undervalued.
🧐 #Altcoins have at least settled down on their bleeding, but the recovery attempts of most assets have fallen flat since the #crypto market tank from August 17th. Among assets that have become particularly undervalued, according to our model, are #AUCTION, $LINA, and $SRM. pic.twitter.com/mRE69HPPwt
— Santiment (@santimentfeed) August 26, 2023
Currently trading at $4.28, Bounce Token has decreased 4.95% in the past 24 hours. Despite its trading volume of $4,195,550, the AUCTION/USD pair has faced a setback, with its CoinMarketCap ranking dropping to #491. With a live market cap of $27,789,482, the circulating supply is 6,500,020 AUCTION coins.
On the brighter side, Linear Finance is trading at $0.010472, reflecting an increase of 3.46% over the last day. The decentralized delta-one asset protocol, which enables the instantaneous creation of synthetic assets with unlimited liquidity, holds a CoinMarketCap ranking of #312. Its live market cap is $58,021,875, with a circulating supply of 5,540,529,528 LINA coins.
Serum is another asset showing signs of recovery, currently priced at $0.037371. With a 24-hour trading volume of $1,363,857, Serum’s value has increased by 3.17% in the last day, placing its CoinMarketCap ranking at #749 and a live market cap of $9,837,621.
Pepe, a meme coin and rival to the popular Dogecoin, took a nosedive recently. The coin, trading at $0.000008993, dropped by 26% within hours to $0.000000825. This rapid decline is believed to result from the project’s team selling off their Pepe holdings.
While some altcoins are showing promise, others continue to face challenges. Investors need to remain vigilant, do their research, and possibly brace for more fluctuations in the near future.
