Altcoins
3 Altcoins to Sell Amid Bearish Sentiment
Crypto assets plunged today amid negative sentiments, with possible market sell-offs prompting traders to look for altcoins to sell. Losses can be seen in several altcoins, including Ethereum (ETH), BNB, Solana (SOL), Ripple (XRP), and Cardano (ADA). Meme coins are also not exempt from current positions as the assets lose some of the previously traded inflows.
At press time, the cryptocurrency market cap fell 0.1% to $2.54 trillion, with daily volumes exceeding $84 billion, an increase of 1.8%. Despite a decline in altcoins and meme coins, market leader
Bitcoin (BTC) continues its progression in the green zone by posting an increase of 1.3% with the price trading at $68,477. On the other hand, meme tokens plunged to $65.5 billion, a 5% decline in the market. Here are three altcoins to sell in the event of a market correction.
Ethereum (ETH)
Ethereum has dominated the crypto charts this month, surging over 22% and its price fluctuating near the $4,000 resistance level. Ethereum’s price rise was due to regulatory approval from the Securities and Exchange Commission (SEC) there. ETH ETF.
However, divergent views have emerged on the ETF’s impacts, with analysts saying that low volumes will not have a significant impact on the asset’s price. Ethereum price is at $3,748, following a decline of 0.48% today and 0.33% this week. However, the monthly figures remain optimistic at 24%.
Ripple (XRP)
Ripple has suffered short-term losses in the crypto market this year, limiting previous bullish projections for the asset. As SEC regulation drags on, many still have a bearish view of the altcoin’s prospects. Ripple is trading at $0.519, down 0.70% today and 1.68% this month. Even though volumes are up 12%, chain data reveals the current bearish position.
Shiba Inu (SHIB)
Shiba Inu, like other meme coins, recorded losses in the last 24 hours. The dog-themed token is down 7.2% today as its price hovers around $0.00002585. SHIB’s downward performance is visible in trading volumes, but it is ultimately explained by broader sentiments that place it among the altcoins to sell. Meme Coins are known to rise with the broader market as investors rally into assets.
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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.