A sneak peek into the world of cryptocurrencies reveals just how perplexing the ebb and flow of market trends can be. The AVAX has been spinning heads with its recent climb beyond the $10 mark, skyrocketing to be the 20th-biggest cryptocurrency by capitalization. Interestingly, the transitory glory doesn’t last long in cryptomarket, AVAX now sits at $9.92, reflecting a 1% decline week-over-week and a whopping 21% drop in the last 30 days. The coin paints a relatively dull start to the year, declining by 8%, contrasting the performance of major tokens such as BTC, ETH, and XRP.
Despite the dip, it’s premature to write off AVAX. The altcoin has been oversold in recent weeks and is undervalued- a potential goldmine for savvy buyers. The precipitous fall in AVAX’s support level, however, suggests the coin might take a further hit before bouncing back.
Avalanche, the force behind AVAX, holds the status of being the fourth-largest layer-one blockchain network in terms of total value locked in, trailing only behind BNB Chain, Tron, and Ethereum. The network continues to command a robust user base, showcasing its credibility and popularity in the volatile crypto market. Extended support from partners like Alibaba Cloud is yet another feather in its cap, consolidating its position. Thus, AVAX’s plunge is not an accurate reflection of its merits.
Adding a new dynamic to the crypto space is Bitcoin BSC (BTCBSC), a BNB Chain-based cryptocurrency. One might wonder, another crypto-coin, really? BTCBSC has a differentiating factor it uses as its trump card – passive staking income. It offers a unique opportunity for holders to own a form of BTC that generates passive income. With its presale currently underway, BTCBSC stands as an attractive alternative for traders eyeing diversification beyond AVAX and other established tokens.
BTCBSC’s design and tokenomics have sparked interest, raising more than $200,000 in its presale. The token’s enticing offer of $0.99 is a sweet deal, reminding many of the potential gains missed in the nascent stage of BTC’s trajectory. The similarities between the two don’t end here; BTCBSC shares the same 21 million hard cap as Bitcoin, and 6.125 million of this allocation is available during the altcoin’s sale.
Albeit resemblances to BTC, a big difference lies in the heart of BTCBSC’s core, it will be open to staking – a gateway to steady passive income for the holders. To get on this train, visit the official Bitcoin BSC website and connect your software wallet. Post-purchase, the altcoin will be listed on BNB Smart Chain DEX, where early investors might fetch significant returns.
However, just like any other asset class, crypto is subjected to high risks. Don’t let the shimmer blind you. Always remember, prudence is the order of the trade!
Source: Cryptonews
