Crypto investors looking to diversify their portfolio have a myriad of options. Well-established digital currencies like Bitcoin and Ethereum continue to hold significant market share. However, the lure of high-return investments also draws enthusiasts toward other options.
Interestingly, eCash (XEC), a proof-of-stake alternative to Bitcoin, has demonstrated its potential for profitability with an increase of over 11% in a single day and having surged by more than 30% from earlier weekly lows. If XEC surpasses the resistance at $0.000045, a further hike in its value could be anticipated.
Similarly, Wall Street Memes’ new $WSM token seems to be making a strong entrance into the crypto space. Raising over $13.26 million within a month and backed by its large online community, financial analysts predict a successful listing on top-tier crypto exchanges. Airdrops to holders could be an enticing part of this journey and could make the $WSM token even more rewarding.
However, it’s not always an upward ride in the world of cryptocurrencies. Filecoin (FIL), the cryptocurrency backing the Filecoin decentralized data storage network, has witnessed a 10% dip recently. Despite this, FIL’s technical outlook appears solid. The hope for a return to its yearly highs remains strong among its fans.
Meanwhile, novice crypto enterprise DeeLance, which operates in a virtual, crypto and NFT-powered ecosystem, has already raised an impressive near $1.5 million since the initiation of its $DLANCE token presale. The project aims to revamp the remote working industry and the mammoth $761 billion recruitment sector.
Despite its promising approach, some crypto fans remain cautious. While powerful middlemen like Fiverr and Upwork could be replaced, DeeLance is stepping into a competitive field. It will need to lay down firm roots and display a measurable impact.
In contrast, Polygon (MATIC) presents a different narrative. Despite facing allegations from the SEC, which have created a sense of fear, uncertainty, and doubt; MATIC seems to be making a comeback. An upward trend could soon be witnessed if the digital token resists the $0.75 and $0.82 barriers.
Only time will tell if these crypto contenders will fulfill their promise or fall flat. As the crypto market continues to evolve, investors keen on diversifying their portfolio will have to keep abreast of the shifting landscape.
Source: Cryptonews
