Recently, Bitcoin's price has experienced a notable decline, dropping over 12% in the past week from $46,700 to $40,901. The downward trend has occurred despite expectations of a bull run following the approval of spot BTC-ETFs. Pantera Capital, a leading crypto-focused hedge fund, reports that the market is entering what they term "Phase 2" where altcoins are supposed to outperform Bitcoin based on historical precedents. As seen in the 2015-2018 and 2019-2022 bull runs, the final year marked a shift in favor of altcoins.
Currently, Bitcoin's market dominance has reached a three-month low, barely holding a 50% share and suggesting BTC’s price can fall below the $40,000 mark. If Bitcoin fails to capitalize on the introduction of its spot ETFs, altcoins, including the most promising ones like Mantle (MNT), Sei (SEI), Blur (BLUR), Ondo (ONDO) and Sui (SUI), could see substantial growth, which makes them the top coins to consider investing in, particularly for those with limited budgets seeking significant gains in 2024.
Ride The Wave Of Innovation With ScapesMania
As the ScapesMania presale nears its completion in February, the team is working hard to secure a quick listing on popular exchange platforms. There is a good probability that the token's value will increase exponentially after the listing.
The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.
Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem.
As the presale is wrapping up, you need to act fast and grab your discounted tokens now! The countdown is on – don't let this chance pass you by.
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ScapesMania, a player in the $376 billion gaming industry, leverages the market's growth potential. Post-exchange debut, holders can anticipate greater liquidity and easier trading.
The community's excitement about the project is evident so far, with $4,500,000+ raised to date from crowd/retail contributions alone. Notably, the fundraising amount is growing by $50,000+ daily and the follower count has reached 60K+ and showcases a weekly growth of 12%.
The growing interest from crypto whales with checks of $20,000+ might expedite ScapesMania's transition from niche to mainstream.
ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the award-winning team behind ScapesMania secured a prestigious grant from a prominent player in the blockchain industry.
Furthermore, ScapesMania is notable for putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is where ScapesManias stands out.
Make sure you don't pass up the opportunity to get the early bird discount as the presale nears its end. Be quick if you want to get your hands on those lucrative tokens before they're all gone.
Presale is Live, Learn More About Major Benefits
Mantle (MNT): Achieving New Heights
Mantle (MNT) has recently reached a new all-time high, showcasing a strong upward trend since October 2023. It broke past its previous peak of $0.53 in December and has continued to climb, now reaching $0.8. Mantle's (MNT) current surge is supported by a growing number of daily transactions, now exceeding 800,000. The Relative Strength Index (RSI) indicates a bullish sentiment, remaining above 50 and having broken out from its bearish divergence trend line.
Mantle (MNT) is experiencing a price range between $0.649 and $0.722, with support levels at $0.547 and $0.62 and resistance levels at $0.766 and $0.838. The 10-day Moving Average at $0.677 and the 100-Day Moving Average at $0.692 suggest a stable upward momentum.
Analysts are optimistic about Mantle's (MNT) future, citing its increasing transaction volume and potential in the layer-2 solutions space. Technical analysis from the six-hour timeframe suggests a continued increase, potentially reaching up to $1.14, a 44% rise from the current price. However, a fall below the wave two low of $0.58 could invalidate this bullish forecast, leading to a potential 40% drop to the next support level at $0.45.
Sei (SEI): Gaining Momentum
Sei (SEI) has been gaining attention with its significant price surge observed in December 2023 Its the token's robust fundamentals and its mission to enhance blockchain capabilities that have contributed to its rising popularity. Despite a recent downward trend, Sei (SEI) maintains a strong trading volume, indicating sustained market interest.
Sei (SEI) is oscillating between $0.572 and $0.799, with support levels at $0.268 and $0.495 and resistance levels at $0.950 and $1.177. The 10-day Moving Average at $0.662 and the 100-day Moving Average at $0.713 reflect a generally positive trend.
Sei's (SEI) growth is underpinned by its strong fundamentals and potential for future development – the token is closer to reaching the $1 mark compared to other similar projects. However, its growth trajectory is subject to market dynamics and investor sentiment which could influence its ability to sustain its upward momentum.
Blur (BLUR): Surging Ahead with Strong Market Indicators
Blur (BLUR) has been showing a bullish trend, consistently surpassing monthly resistance levels despite a significant token release. Blur's (BLUR) on-chain metrics indicate strong buying interest and active trading by large-scale investors, which suggests a positive outlook.
Blur (BLUR) is hovering between $0.519 and $0.706, with support levels at $0.252 and $0.439 and resistance at $0.814 and $1.001. The 10-day Moving Average at $0.615 and the 100-day Moving Average at $0.57 indicate a bullish trend.
The current price behavior suggests potential upward movement for Blur (BLUR), with a possible break above the resistance line at $0.765, potentially pushing the price to $0.84. However, a reversal by sellers driving the price below the immediate support level of $0.65 could disrupt this momentum and initiate a decline towards $0.58.
Ondo (ONDO): A New Force in the Tokenized Asset Space
Ondo Finance has recently unlocked 14.3% of its native ONDO tokens, leading to a significant increase in its market capitalization which soared to $1.66 billion. Ondo (ONDO) has been listed on several major exchanges and is governed by the Ondo DAO, adding a crypto-native aspect to the project's ecosystem.
Ondo (ONDO) is trading within a range of $0.2506 to $0.3088, with support levels at $0.08355 and $0.1077 and a resistance level at $0.3088.
Ondo's (ONDO) recent token unlock and growing market capitalization indicate a positive outlook for the token. However, the market's response to the increased circulating supply and the project's ability to balance interests between crypto users and large institutions is exactly what determines its future price trajectory.
Sui (SUI): Skyrocketing in the DeFi Ecosystem
Sui (SUI) has seen a significant increase in value, reaching a new all-time high amid a booming DeFi ecosystem. The Sui (SUI) blockchain network ranks among the top 15 for daily transaction volume and weekly volume, with impressive growth in its decentralized exchange (DEX) trading activity.
Sui (SUI) is hanging within a range of $0.92 to $1.32, with support levels at $0.4 and $0.79 and resistance levels at $1.58 and $1.97. The 10-day Moving Average at $1.08 and the 100-day Moving Average at $1.07 indicate strong momentum.
Sui's (SUI) recent performance and ecosystem growth suggest a promising future – the network's high transaction volume and increasing total value locked (TVL) are positive indicators. However, Sui's (SUI) ability to maintain this growth amidst competition from other blockchains and market fluctuations will be key to its future price development.
Conclusion
As 2024 unfolds, altcoins are stepping into the spotlight, with investors shifting their focus from a faltering Bitcoin in line with trends Pantera Capital's report suggests we've seen before. Altcoins are poised to shine as Bitcoin loses steam. Amid the shift to "Phase 2", altcoins are gaining traction and becoming attractive picks for investors on the hunt for significant returns without breaking the bank. These include Mantle (MNT), Sei (SEI), Blur (BLUR), Ondo (ONDO) and Sui (SUI) – each of them carves out their own niche in the market with unique advantages that spotlight them as promising picks for investors in 2024. The growth potential of these cryptocurrencies is not just speculation; it's backed by solid tech, ever-shifting market trends, and the vibes investors are throwing their way. Now, it’s all pointing to them being big winners in the returns game.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
