The cryptocurrency market has been experiencing a major downturn over the past year, with the total market capitalization falling from its peak of nearly $830 billion to just over $200 billion at present. This has had a negative impact on most cryptocurrencies, with many losing a significant amount of their value. However, there are some altcoins that have managed to remain relatively stable or even increase in value despite the market being in such a volatile state.
Here are the top 5 altcoin winners despite the crypto market downturn:
1. Binance Coin (BNB) – Binance Coin, the utility token of the Binance cryptocurrency exchange, has been one of the best performers of 2018. The token has seen its value quadruple since January, thanks to the success of the exchange and its various new offerings. Binance is currently the largest cryptocurrency exchange in the world by trading volume, and its success has helped to boost the value of BNB.
2. VeChain (VEN) – VeChain is a blockchain platform that aims to improve supply chain management by using a combination of RFID technology and blockchain. The platform has already signed partnerships with major companies such as PwC and BMW, which has helped to boost the value of its native token VEN. Despite the crypto market downturn, VEN has managed to increase in value by around 50% since January.
3. Ontology (ONT) – Similar to VeChain, Ontology is a blockchain project that aims to improve various aspects of business operations. The project has been successful in building partnerships with several major companies such as Neo, Microsoft, and Deloitte. As a result, the value of its native token ONT has increased by over 150% since its launch in March.
4. Zilliqa (ZIL) – Zilliqa is a high-throughput blockchain platform that uses sharding technology to achieve higher scalability than many other blockchain projects. The project’s native token ZIL has been one of the best performers of 2018, increasing in value by over 500% since its launch in January. ZIL’s success can be attributed to the high demand for a scalable blockchain platform and the project’s ability to deliver on its promises.
5. ICON (ICX) – ICON is a blockchain platform that aims to create an interconnected blockchain ecosystem where different blockchain communities can interact with each other seamlessly. The project has been successful in building partnerships with various industries, including healthcare, finance, and education. The project’s native token ICX has seen a significant increase in value since its launch, increasing by over 280% since January.
Despite the crypto market downturn, these altcoins have managed to remain relatively stable or increase in value due to a combination of factors, including partnerships with major companies, strong use cases, and successful delivery on promises. As the cryptocurrency market continues to be volatile, it will be interesting to see how these altcoins will continue to perform in the long run.
The cryptocurrency market has been dominated by bullish altcoins this week, with OKB (OKB) leading the pack in terms of percentage increase. According to BeInCrypto, OKB’s price has been steadily rising since June 2022, and it reached a new yearly high of $58.85 on Feb. 18. After a brief dip, the price broke out from a symmetrical triangle on April 14 and could continue to rise towards a top near $72.23 if it stays on its current trajectory. However, if the price falls below the wave one high of $23, this could invalidate the bullish count and cause a drop to $14.
Meanwhile, Render Token (RNDR) saw its price increase by 12.61% before falling since reaching a yearly high of $2.19 on April 20. A long upper wick created on the same day is a sign of selling pressure and could push the digital asset down to the closest support at $1.70 if the decrease continues. But if momentum returns, RNDR could increase to its previous high of $2.19.
Casper (CSPR) also saw its price fall since reaching a new yearly high of $0.060 on April 16. However, the price currently trades inside the $0.049 horizontal support area, which could provide support if CSPR bounces back. If not, it could drop to $0.037.
Injective (INJ) has been a bullish altcoin since the beginning of the year, increasing inside an ascending parallel channel. However, the channel’s resistance line rejected the price on April 17, and if the decrease continues, INJ could drop to $6. On the other hand, if the price regains its footing, it could reach the channel’s resistance line again at $12.
Finally, Ziliqa (ZIL) failed to clear the $0.035 horizontal resistance area on April 19, which had previously acted as resistance since September 2022. If the downward movement continues, ZIL could drop to $0.026, but if the price breaks out, it could reach $0.045.
It’s important to note that these predictions are based on technical analysis techniques like Elliott Wave Theory, which involves studying recurring long-term price patterns and investor psychology, and market conditions are subject to change without notice. As always, investors should conduct their own research and consult with a professional before making any financial decisions.