The crypto market has been in what would describe as shambles over the last 30 days. As a result, the prices of most asset failed to hit expectations. This situation was not limited to the coin in the top 100 only.
Nonetheless, there are the worst hit as Bitcoin and Ethereum lost more than 17% over the last 30 days. With the consistent drop in the value of these cryptocurrencies, many investors are looking to coin outside the top 100ss. Let’s see the top five most promising.
1. Casper Network
Casper, the first live proof-of-stake (PoS) blockchain based on the Casper CBC protocol, was introduced on the mainnet on March 30, 2021. The Casper platform aims to accelerate the global adoption of DApps, smart contracts, and blockchain technology.
With its future-proof architecture, Casper is built to guarantee that the platform is continuously improved in accordance with the changing needs of its users and that developers from all backgrounds have the greatest possible access to it.
According to the official whitepaper, Casper is optimized to meet the demands of both developers and businesses. As the need for intuitive, linked services keeps expanding, Casper’s goal is to usher in a new age for Web 3. Casper solves this by providing enterprise-grade security, scalability, and decentralization, which addresses the adoption trilemma.
With regards to price, the asset showed a lot of volatility and many traders have it on their watch lists. The reason for this conclusion is that for some time, the coin saw a massive price increase as its trading volume reached new highs.
It is considerably stable with several supports. One such is the $0.026 mark. The barrier held off against several attacks as the latest downtrend saw it retrace and threaten to flip it. A closer look at the chart affirms that there are other critical marks.
If the highlighted level breaks, we noticed a massive demand concentration at $0.023. However, before an attempt at this barrier, we may expect prices to linger around $0.025. On the other hand, CSPR will crush key resistance during the next surge.
A flip of the $0.030 barrier may signal the start of another bullish round. One level that may need more pressure to break is the $0.032 as it held against several attempts over the last fourteen days.
The $0.040 resistance is another mark that Casper may flip before the end of the year. We may see more try at $0.045.
Helium
A decentralized blockchain-based network for the Internet of Things (IoT) gadgets is called Helium (HNT). The Helium mainnet, which went live in July 2019, enables low-powered wireless devices to communicate with one another and transfer data across its node-based network.
The so-called “Hotspots,” which combine a wireless gateway and a blockchain mining device, are nodes in the network. By running nodes, users mine and receive rewards in HNT, the native money of Helium.
Since its founding in 2013, Helium has been analyzing shortcomings in the current infrastructure with the aim of preparing IoT connectivity for the future. With regards to price, there are varying speculation.
Nonetheless, most traders are hopeful of new highs. One of the levels all eyes are on is the $5 resistance. Currently trading below the said mark we may see attempts at reclaiming. To achieve this aim, the coin must the $2 support.
As at the time of writing, it is the toughest positive barrier as a slip may guarantee a retest of the $1.5 support. On the flipside, since dropping below $3, HNT only tested it once and failed as market conditions were not conducive.
However, the Moving Average Convergence Divergence may be a source of concern. Its hinting at a possible bearish divergence which tells a slip below $2 is more likely. After the drop, the recovery may send helium to retest the $3 resistance.
Once it breaks, then we may see an attempt at the $4 barrier. This mark is not one of the toughest but performed better as a support than the other way round.
Loopring
A Decentralized Exchange (DEX) dubbed Loopring is constructed using the zkRollup Ethereum Layer-2 (L2) solution. It has ordered book-based exchanges as well as Automated Market Maker (AMM)-based exchanges.
An Ethereum L2 scaling solution called zkRollup moves calculations away from the blockchain. Only the data layer and the verification layer of the Ethereum blockchain are used by the Loopring protocol.
As a result, compared to Ethereum’s current throughput of 15 transactions per second, Loopring’s throughput is as high as 2,025 trades per second. As a result, the price for each trade settlement is only $0.00015.
Professional traders and market makers can use algorithmic trading tactics and other automated trading bots thanks to Loopring’s performance. Prior to now, no DEX could do this since it was too slow and expensive.
On the part of fundamentals, there are non at the time of writing. However, using the supports and resistance we can point out key levels to watch. The first on the list is the
Convex
Convex is a methodology that streamlines the Curve boosting process to increase yields. With Convex, Curve liquidity providers can claim increased CRV and trading fees without locking their own CRV.
With little effort, liquidity providers can benefit from increased CRV and mining rewards for their liquidity. Convex allows customers to get trading commissions in addition to a portion of the increased CRV that liquidity providers receive if they choose to stake CRV.
In addition to improving capital efficiency, this enables a better balance between liquidity providers and CRV stakeholder groups. For a more effective boost to their CRV earnings, Curve liquidity providers can deposit their LP tokens into Convex. Through the protocol, holders of Curve DAO tokens will be able to earn more increased CRV and CVX tokens.
Sushi
Sushi is a DeFi technology that offers scrumptious interest for your holding crypto funds and is entirely community-driven. Utilize DeFi methods that generate passive income on Sushi, including as staking, yield farming, and liquidity provision.
Additionally, Sushi has fewer obstacles when executing your bitcoin trade because of the decentralized nature of being an AMM (Automated Market Maker), and all fees are paid to the customers that generate liquidity.