Altcoins
3 Altcoins to Sell Based on Market Fluctuations
Altcoins are moving sideways after rebound attempts yesterday. Several market areas are moving in this direction, with the bulls repositioning mid-week. Although slight gains were recorded at press time, sentiment remained weak in the following days in the red zone. Last week, crypto assets recorded steep losses, sending the market capitalization plummeting to one-month lows.
Macroeconomic factors led to outflows of Bitcoin as the price fell below $61,000. This triggered a massive sell-off in altcoins and meme coins, adding to the decline in market capitalization. The total crypto value is $2.26 trillion, up from a previous figure of over $2.6 trillion. With the current fluctuations, traders are looking to reposition their holdings. Here are 3 cryptos for sale this week.
Ripple (XRP)
Ripple is down 0.66%, while other major altcoins saw little gains in the market. XRP is trading at $0.4678 with a market cap of $26 billion after weeks of negative trading. One of the main reasons why users are considering XRP as one of the altcoins to sell is its slow recovery over the past 24 hours. Weekly figures have also plunged more than 6%, while monthly releases remain in double digits. Overall trading volumes are also down at $887 million.
Polygon (MATIC)
Polygon continued its downward trajectory after weekly lows. The asset is trading at $0.5522, down 0.44% in the last 24 hours. Like Ripple, MATIC is showing limited signs of rebound coupled with a significant decline in trading volumes. Daily trading volumes fell to $183 million as the bulls lost steam. MATIC’s monthly figures were down 23%, erasing a significant portion of previous gains.
Shiba Inu
Meme Coins have been the most affected by the crypto market decline due to price volatility. Shiba Inu is down 2% in the last 24 hours at $0.00001713. The asset’s weekly outflows have fallen, making it one of the altcoins to sell for most users. Furthermore, daily volumes amounted to $190 million, a decrease of 36%.
Read also: Cardano Price Expected to Hit $40, Crypto Analysts Say
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Staying on top of trends, David has worked across several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Far from the financial markets, David goes cycling and horse riding.