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Is VELO the XRP of Southeast Asia? There is a long way to go, but…

TokenTalk Staff

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Is VELO the XRP of Southeast Asia?  There is a long way to go, but...
  • VELO price rise could be linked to greater activity in the Asian market
  • As XRP sentiment fell, VELO reached a very positive reading.

BIKE, the native token of Velo, a blockchain-based financial protocol focused on credit issuance, has taken the crypto market by storm. Over the last 90 days, the price of VELO has increased by 461%.

This performance allowed the token to outperform many other altcoins on the charts. However, it didn’t stop there. The traction Velo has received recently has sparked a lot of conversation, prompting some market participants to call it the “XRP of Southeast Asia.”

Wait VELO

AMBCrypto discovered this after checking social data provided by on-chain analytics tool Santiment. Our results revealed that VELO’s incredible volume in Asia was the main reason participants compared it to XRP. Especially since there was a time when XRP rallies were triggered by volumes on exchanges like UpBit. To this day, XRP remains very popular in this part of the world.

Apart from this, the integration of the project with Solana [SOL] and the Binance Smart Chain also sparked the increase in attention it received.

At press time, VELO’s volume was $95.95 million. This is a value that tokens outside of the top 100 do not record on a daily basis. Therefore, the aforementioned increase is simply a confirmation of interest in cryptocurrency.

Growing VELO Volume Shows Price Increase

Source: Santiment

As for the price, rising volume could support a new uptrend and VELO could reach $0.030 in a short time.

However, XRP’s performance has been disappointing lately. At the time of writing, the price of XRP was $0.51, with the altcoin’s value down 1.40% over the past 24 hours. Can VELO replace XRP’s place in Asia?

A local top arrives

Comparing the sentiments around the two projects somewhat validated this assertion. According to on-chain data, the weighted sentiment for XRP was -0.119 while for VELO it was 4.518.

The balanced feeling underlines the perception the broader market is talking about a cryptocurrency. We can therefore deduce that traders were optimistic on VELO while comments related to XRP were bearish.

Additionally, prices may be affected by this data. If VELO’s sentiment-weighted reading climbs, demand for the token could continue to rise even higher.

On the other hand, continued negative sentiment towards XRP could push price below $0.50.

VELO’s Positive Sentiment and XRP’s Negative Sentiment

Source: Santiment

That being said, traders may need to be wary of VELO. If sentiment is too high, it could be a sign that the token has reached a local high. In this case, holders of the token could start making profits and the price of VELO could fall on the charts.

Realistic or not, here it is Market capitalization of VELO in XRP terms

Regardless of the potential decline, XRP may not be able to match VELO’s performance this cycle.

Still, his recent performances could spark interest from other corners of the world. If this happens, VELO’s market capitalization could increase.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Here is a list of the top Altcoins that will lead the “recovery rally”

TokenTalk Staff

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Crypto Experts List Top 5 Altcoins With Huge Return in 2024

Popular Analyst Jason Pizzino took note of his latest analysis and suggested taking a closer look at some altcoins. In recent days, signs indicate the presence of a significant minimum or close to it. He pointed out that similar discussions of significant lows took place in June 2022. Interestingly, two years later there is another period of increased volatility and fear, coinciding with an important date around the solstice.

Jason referred to the collapse of May and June 2022, marked by the fall of DeFi projects like Luna in May, followed by further collapses in June, affecting companies like BlockFi. This period represented a significant low point, although the market declined with the FTX collapse. Despite the economic slowdown, buying during this slow period has proven to be a good entry point.

He highlighted that current market conditions are showing signs of a significant bottom, with the market still in a stealth zone. By analyzing the average true range (ATR) of the bars on a weekly and daily basis, it observed a downward trend on various altcoins, Bitcoin and the total market cap of cryptocurrencies. Historically, a decline in ATR during a bull market suggests a stealthy period of consolidation that usually leads to an upward breakout.

Jason discussed several altcoins:

Recover.ai: Rebounded 40% from its low against USDT. It needs to get back above $1.80, which was a previous low on April 13, marking the 50% retracement level.

AGIX: Similar to Fetch.ai but weaker. Must exceed 1000 and 1200 Satoshi for strength. It is crucial to stay at 63 cents against the US dollar.

Ocean Protocol: You have to stay above 63 cents to aim for 90 cents.

Give back: Showing strength above his level of 50%. Monitor the $3-$5 range for potential corrections. Even with a correction at these levels, the structure would remain bullish.

Pendle: Maintained above the 50% level and good performance despite market fear. Currently around $5.80, it must stay above $5.70 to avoid counterfeiting.

Ondo Finance: Above the 50% level and previous resistance, but caution is advised as it tests near-term levels.

Read also: Analyst Advises Against Stacking Stagnant Altcoins Like XRP and ADA

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Altcoins

Everything looks good for Ethereum, Solana and Binance Coin; Soon the Altcoin rally?

TokenTalk Staff

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Everything looks good for Ethereum, Solana and Binance Coin;  Soon the Altcoin rally?

Jason Pizzino recently detailed that the market is in a stealth zone, showing signs of a major low. During these periods of discretion, he said fear increases and market interest decreases, leading to smaller range bars after the initial scares. Despite possible future fears, key levels like the 50% mark are holding, with the lows remaining slightly higher. This suggests that the market could be ready for a major upward move. Jason added that the market appears poised to gradually recover over the coming months. He examined the best parts by delving into technical details.

He noted that altcoins like ETH/USD are showing relative strength, remaining above key 50% levels. Ethereum, for example, has maintained its position above the 50% mark of its range, established at the May low, coinciding with the Bitcoin peak following the enthusiasm generated by the ETF news. Recent news, such as the SEC dropping the cases, also contributed to The price of Ethereum stability, despite broader market declines.

While the majority of the market has seen significant declines in recent days, Ethereum has managed to hold on. If Ethereum breaks down to around $3,400, it would consider $3,200 a safe level, but if it falls below $2,829, it could indicate that the ETF news is not as positive as it seems so.

Solana is in a similar position, remaining above the 50% mark throughout the bear market range. It currently sits above $138, with downside support around $109. This positioning suggests a bullish structure, with Solana setting higher lows, maintaining strength within its cycle. Solana’s previous corrections ranged from 37% to 52%, indicating that a correction of up to 50% would be consistent with past trends.

Binance Coin made a premature move higher, and if it breaks down from around $540, it could be a false exit. A retest of the $420 to $520 area could occur if this breakdown occurs. Currently, even as it reaches new all-time highs, it is crucial for BNB to maintain its price levels to confirm its bullish momentum.

Read also: Bitcoin, Ethereum and XRP Price Prediction: Is the Bull Rally Over?

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Altcoins

Ethereum Indicator Signals Altcoin Season To Start Early, Says Quantitative Analyst Ki Young Ju

TokenTalk Staff

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Ethereum Indicator Signals Altcoin Season To Start Early, Says Quantitative Analyst Ki Young Ju

CEO of blockchain analytics platform CryptoQuant, Ki Young Ju, updates his outlook on altcoins ahead of possible approval of Ethereum spot (ETH) exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC).

Young Ju tell its 348,500 followers on social media platform

The MVRV indicator, which is used to assess whether a particular crypto asset is undervalued or overvalued, is the ratio of the market capitalization of Ethereum, or any other crypto asset, to its realized capitalization (the value of all ETH at the price they were purchased at).

“We are entering the start of the altcoin season.

ETH MVRV is rising faster than Bitcoin (BTC) MVRV, suggesting that the ETH market is heating up from its on-chain fundamentals.

Given the current ETF situation, this could be an ETH-only season. Historically, when ETH rises, other altcoins tend to follow.

Source: Ki Young Ju/X

Moving on to altcoins, CryptoQuant CEO said This memecoin dominance is in decline after hitting a 15-month high in March. Memecoin dominance is the proportion of the total market capitalization of memecoins to the total market capitalization of altcoins.

“Crypto Twitter would shift from gaming to focusing on fundamentals, like a few years ago.

Pack your bags guys, it’s over.

Source: Ki Young Ju/X

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Altcoins

Best Alt Coin to Buy Now – Top 5 Altcoins Poised for a Breakout in 2024

TokenTalk Staff

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9 migliori criptovalute da acquistare ora per sbloccare ricchezza nei prossimi 2 anni

Experienced traders understand the importance of penny stocks in investing and best alternative coin to buy now in crypto. Bitcoin is a well-known and universally accepted coin that offers a safe investment. A layman must understand the importance of penny stocks in cryptocurrencies.

This is where altcoins come in: these alternative cryptocurrencies hold the keys to exciting developments in the virtual world. They offer unique use cases and potentially exorbitant returns!

If you want to diversify your portfolio and invest in innovative projects, get ready! We have scoured the market and selected a list of altcoins that could explode during the next bull run.

From thrilling VR races to fantastical Metaverse worlds, these projects put the future within reach. Remember that altcoins come with their own risks, so always be careful.

Top 5 Altcoins Poised for a Breakthrough in 2024

We’ve researched the market to bring you this list of the best alternative coins to buy now:

  1. 5thScape (5SCAPE)
  2. DarkLume (DLUME)
  3. eTukTuk (TUK)
  4. Ethereum (ETH)
  5. Solana (SOL)

Get ready to explore the exciting world of altcoins! Consider this List of Best Alternative Coins to Buy Now your map to hidden treasures: the start of a great adventure through the cryptocurrency landscape.

Coin Analysis: A Roadmap for Cryptocurrency Rewarding Actions

What is this: 5thScape is not just about VR games. They aim to build an entire ecosystem. That means cutting-edge VR hardware, a marketplace for digital gifts, and even tools for developers to create their own experiences, all tied to the 5SCAPE token. It’s like a VR app store, game world, and social hub rolled into one.

Why invest: This is one of the most ambitious projects on our list. They’re betting that VR’s mainstream appeal is about to explode and it wants to become a one-stop shop. If they can deliver on everything they promised, the rewards could be enormous, but so is the risk of falling short.

Tokenomics: 5th Scape has a fixed token supply, which adds to its speculative appeal. A large portion is allocated to pre-sales, and its broad utility within their ecosystem as a currency is designed to drive demand.

>> Click here to visit the 5thScape pre-sale page

What is this: Forget the usual metaverse hype; DarkLume builds a world where you can become a digital citizen, hang out with friends in fantastical settings, and maybe even embark on crazy quests. They gamify the whole experience, so even simple socializing earns you DLUME tokens – it’s like getting paid to have fun!

Why invest: Metaverses are the hot new thing, but many feel they need to be more varied. DarkLume’s fantasy setting, emphasis on social activities, and unique base income/tipping system make it a wild card in this space. DarkLume could become a central entertainment hub if it captures a dedicated community.

Tokenomics: DLUME’s tokenomics is interesting because it emphasizes enriching social interactions. Although the total supply is large, much of it is for global operations, which could create steady demand. However, a citizen taxation system could also introduce deflationary mechanisms.

>> Click here to visit DarkLume VR

What is this: eTukTuk represents a groundbreaking ICO poised to revolutionize transportation through eco-friendly, AI-driven systems. Originally designed for underdeveloped regions and with global scalability in mind, eTukTuk leverages blockchain to pave the way for the future of charging infrastructure.

Why invest: Investing in eTukTuk presents a unique opportunity to support a transformative business with global impact. eTukTuk’s strategic collaboration with Capital Maharaja Group not only saves costs but also positions eTukTuk as a profitable business in the booming electric vehicle sector.

Tokenomics: The eTukTuk ICO presale introduced 12.5% ​​of its TUK tokens, providing investors with participation in the platform’s growth and revenue streams. Token holders stand to gain transactional benefits within the ecosystem, including rewards linked to vehicle use and infrastructure development.

What is this: ETH is not just a currency; it is the fuel that powers a vast ecosystem. Think of it as the operating system for countless decentralized applications (dApps), powering everything from NFT marketplaces to DeFi platforms. It is the backbone of a new type of Internet.

Why invest: Ethereum faces scaling challenges but is now the undisputed king of smart contract platforms. It benefits from the “network effect”: many projects depend on it, which makes it difficult to dethrone. Upgrades are still in progress, potentially fixing its weaknesses.

Tokenomics: Ethereum moved to proof-of-stake consensus, which reduced the issuance of new tokens. A fee reduction mechanism has been introduced, potentially making ETH deflationary if the network is heavily utilized. This change is intended to improve long-term value.

What is this: Solana wants you to remember slow transactions and high fees. This blockchain prioritizes speed and scalability above all else. Think thousands of transactions per second for a fraction of the cost of other networks. This is a magnet for developers and projects that cannot run on slower chains.

Why invest: Solana has had a tough time lately with network outages, but the fundamental technology remains compelling. If they can resolve the issues, Solana’s position as the go-to for fast, cheap transactions could propel its value significantly.

Tokenomics: Solana has a large initial supply, with some unlocked over time. This inflationary model could worry some investors. Its use for transaction fees on a busy network could counteract this phenomenon.

The path to follow

The crypto world is evolving rapidly; trends change and new projects emerge. Stay informed and adjust your strategies accordingly, which is essential to surviving in this exciting landscape.

Conclusion: the Altcoin advantage

These best alternative coins to buy now showcase the incredible diversity and innovation of the blockchain world. Each offers a unique entry point into rapidly developing sectors. As always, please do your research before doing anything, but don’t be afraid to seize the opportunities that present themselves in the exciting altcoin space!

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Copyright © 2024 TOKENTALK.TOP. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.