Avalanche And Wormhole Witness Massive Demand, Experts Think Algotech (ALGT) Could Be Next
Meta Description: After developing the bullish “rounding button”, AVAX is set for an unprecedented bill run. Rookie coins, Wormhole and Algotech, massive successes create FOMO among crypto traders.
Resilience is the hallmark of good cryptocurrencies, and Avalanche (AVAX) has shown undeniable signs of the trait. As AVAX rebounds, Wormhole and Algotech are recording unprecedented growth, and investors are taking note that they may be the next big things in the crypto space.
Avalanche Is Set For A Rebound As Downward Trend Weakens And A Bullish Outlook Kicks In
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Avalanche (AVAX) price is consolidating, with a rebound that represents a 1.2% increase from the trade price in the last 24 hours, and a 148.2% increase from the past year.
AVAX has had it rough recently, with present figures indicating a reduction in activities plus fewer transactions on the AVAX system. Also, there has been a 20% reduction in the TVL from last month, which means that there is a decline in staking activities in the Avalanche ecosystem. Analysts point to network congestion to be a chief cause. After its launch, AVAX quickly gained momentum, and the increase in traffic that followed resulted in reduced transaction time and higher fees. Since the crypto space is competitive, the rise of other ecosystems that offer similar functionalities like AVAX may have equally contributed to the decline.
Despite the troubles, the weekly technical chart shows that Avalanche is developing a bullish reversal pattern known as the rounding bottom, which is seen as the bottoming of a downward trend. This trend usually emerges when investors show renewed buying interest in a coin that has witnessed a massive downward trend. Analysis reveals that should this rebound occur, Avalanche is expected to grow exponentially in 2024, with an average price of $80.63, which will set the tone for a more bullish 2024.
Wormhole Price Rallies With A Bullish 22.8% Growth
Image Source: Medium
Wormhole belongs to the league of newly launched cryptocurrencies that are maintaining an impressive run. Launched on April 3rd, 2024, Wormhole (W) has already surpassed a $1 billion market cap and currently has a trading volume of over $170 million. The strides achieved by Wormhole have impressed investors, resulting in massive demand for it, and its ranking among the best crypto coins.
Wormhole reached its all-time high of $1.66 the same day it was launched and dropped to its all-time low of $0.4725 exactly 10 days later. Since then, the price of the coin has rebounded and with a 38.4% growth from its all-time low, the coin is now on a bullish trajectory. The current price of Wormhole, while low compared to its all-time, showed a whopping 22.8% growth in the past 14 days, and a 12.7% growth in the last 7 days.
Wormhole’s growth is happening alongside the recent announcement by Robinhood four days ago. The popular crypto trading platform recently announced that it now supports Jupiter (JUP) and Wormhole (W) trading for its European customers. This move means more users can own and trade Wormhole, and with the exposure comes the potential for more growth.
Algotech Poised To Be The Next Big Thing In The Crypto SpaceThe crypto space is filled with spontaneous success stories, and Algotech is on investors’ radar for showing early signs of massive success.
Algotech’s native token (ALGT) is in its presale stage and is experiencing a kind of success that is the dream of every new crypto project. The presale round has attracted over $6.06 million as investors sell their holdings on other projects so they can buy into the Algotech success story. With a current price of $0.10, discounted for $0.08 during the presale round, Algotech is set to reach $1 when it launches on exchanges, with more price increase to follow shortly after.
Algotech is a decentralized algorithmic trading platform that is set to revolutionize crypto trading. Their vision is to use the power of technology to help traders achieve their full potential through automation. Their trading tools use the power of AI to compensate for human shortcomings when it comes to trading. It’s like an AI assistant helping the trader better analyze chat data, better spot trading opportunities, and better craft trading strategies suitable to the trader’s unique risk tolerance.
It’s an altcoin season, and ALGT is backed by a solid project that is revolutionary in the crypto space. This is expected to rob off on the price of Algotech and the token is already recording early successes that confirm these expectations.
Learn more on AlgoTech’s Presale:
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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