Cryptocurrency News

Thought The Altcoin Season Has Led Investors Disappointed But This Is Not Even So Bad!!

Those who bet on the “altcoin season” may have been disappointed, but at the very least, they did not lose an average of 15% or more.

Looking back at the winners and losers from the previous seven days may give the impression that altcoin markets are doing well. The total market capitalization, on the other hand, fell by 6.7% to $ 2.72 trillion as the price of Bitcoin (BTC) fell by 1.43% to $56,178 USD.

The metaverse and sports sector, which has been bustling since Facebook has rebranded Meta in October, reflecting its increased concentration on that section, appears to be the only point of contact between this week’s top benefactors. The November increase is one of the most important pieces of news supporting the current increase in metaverse-related tokens.

Gala (GALA) soared after it was listed on Coinbase and Huobi in November. The app token allows for a separate game environment in which users have a say in the support and development stages.

On November 18, Crypto.com (CRO) announced that the circle has been confirmed. The marketing department of the NBA’s Los Angeles Lakers has chosen to spend $700 million to acquire the patents for the team.

Elrond (EGLD) unveiled a $1.29 billion incentive package on November 19 to assist attract customers and liquidity to its distributed financial system. The project employs sharding technology to achieve a transaction rate of up to 15,000 per second (TPS).

Two separate exchange tokens were among the culprits. The only bad news came from US Securities and Exchange Commission Commissioner Caroline Crenshaw on November 9. According to research, the business lacks market protections, raising concerns about counterfeiting and market fraud.

Quant (QNT) is still in a downturn following a 7-day 122% surge in September. The company pushed the creation of a protocol that allows the ERC-20 and ERC-721 tokens to be integrated.

After a seven-day 38% pump on Nov. 2, Vechain Thor (VET) was tracked again before the release of its proof of authenticity (PoA) machine v2.0 on 5th November. 

The OKEx Tether (USDT) premium has improved marginally, measuring the difference between China-based peer-to-peer (P2P) trading and the official currency of the United States dollar.

The current 99% index is slightly lower, indicating a lack of demand for cryptocurrency traders to convert cash into stablecoins — but it’s still a substantial improvement from the 5% discount seen in mid-October.

Interest rates on cryptocurrencies were fluctuating at the time. The change was expected, however, as the market total returned and a $2.7 billion completion occurred in the middle of the week.

The above data may not appear positive, but the general market structure is well underway, as Bitcoin (BTC) and Ethereum (ETH) have lost the most this week. Those who bet on the “altcoin season” may have been disappointed, but at the very least, they did not lose an average of 15% or more.

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