Altcoins
Analyst Says Altcoins Could Drop to Zero; Lists Strong Cryptocurrencies for Gains
Analyst Lark Davis He expressed frustration with the current market downturn, indicating his desire to liquidate his altcoin holdings and start fresh in the next bull market. However, he emphasized that market declines are part of the natural cycle of cryptocurrencies and that while not all cryptocurrencies will recover, the major ones are likely to rebound.
According to Davis, the altcoin market is seeing mixed activity and sentiment, with specific coins like ICP, Kaspa, Oasis, Monero, and Jupiter being highlighted for their unique features and strategic moves. While some coins like XRP are struggling to maintain their use cases against newer networks like Solana, others like Jupiter are making significant efforts to increase their value.
Regarding the broader market, the expert noted the current panic surrounding certain Bitcoin assets and suggested that this fear has become a narrative. He advised buying Bitcoin during periods of market declines, as this often presents opportunities.
Strong Altcoins:
Solana: Solana Its ability to handle high transaction volumes at low costs positions it as a serious competitor to other networks like XRP. Its inclusion shows the growing importance of efficient and scalable blockchain networks.
avalanche: avalanche is known for its high performance, scalability, and interoperability with other blockchains.
Jupiter:Jupiter’s decision to reduce its supply by 30% is considered a bullish move, potentially increasing its value by reducing the tokens available, which may lead to increased demand and price appreciation.
Oasis: THE Oasis Network focuses on privacy-preserving blockchain technology and aims to create a scalable and versatile platform for DeFi applications.
However, he cautioned against reinvesting in projects that are unlikely to recover from the current market crash, calling many of them “destined for the dustbin of history.” He said altcoins like Fantom could recover along with the broader market. “I hold Fantom and see its potential, but many altcoins look risky now. Some could recover, but others could go to zero,” he said.
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