The crypto market experienced a significant hit on Monday, with a net outflow of approximately $29.45 billion, shrinking the total crypto market cap to $1.111 trillion. Ethereum and Bitcoin, the two leading cryptocurrencies, faced this downturn as well, with their market caps dropping to $222 billion and $535 billion, respectively. Amidst the broader cryptocurrency market selloff, several cryptocurrencies are still showing promise such as AI, BGB, SPONGE, LDO, ECOTERRA, BCH, and YPRED, presenting themselves as viable considerations based on their fundamentals and/or favorable technical analysis.
One notable example is the meme coin AiDoge’s cryptocurrency presale, which has recently attracted significant attention, amassing a substantial $1 million within a day. The AiDoge platform aims to introduce the concept of “Meme-to-Earn” (M2E), rewarding creators of popular memes with $AI tokens. The AiDoge platform’s plan to use advanced AI technology to generate viral memes and reward creators with $AI tokens sets it apart from competitors.
Bitget, a fast-growing exchange, has recently introduced a ‘Super Airdrop’ feature for holders of its native token, BGB, incentivizing participation in the growing ecosystem. The Super Airdrop feature rewards BGB holders with airdrops of any new crypto asset listed on Bitget, which went live on May 8, 2023.
Another promising crypto is $SPONGE, a meme coin which has expanded swiftly and recently listed on Poloniex, a centralized exchange (CEX) ranked 52nd in trading volume by CoinMarketCap. Its performance has even caught the interest of notable personalities like Matt Wallace.
Lido DAO (LDO), on the other hand, has been on a downward trajectory for the past ten days. However, recent technical indicators suggest a potential price reversal, indicating that buyers may be showing interest at the current price levels.
The green cryptocurrency project ecoterra aims at combating climate change by incentivizing recycling and promoting ‘impact actions,’ activities that directly contribute to environmental improvement. The project has captured the interest of investors, securing over $3.38 million in funding in a little over a month.
Bitcoin Cash (BCH) has shown signs of recovery after breaching the Fib 0.236 level and a two-week range. The robust bounce off a support level accompanied by a surge in volume reinforces the solidity of the crypto’s support.
Lastly, yPredict’s presale, centered around its AI-powered crypto trading platform, has raised $770,000 thus far. The platform offers traders access to AI-powered analytics, including price predictions, pattern detection, and market data insights, making it an appealing option for investors.
While market participants anticipate the forthcoming CPI figures and despite the ongoing market pullback, the abovementioned cryptocurrencies continue to present themselves as viable considerations for investments based on their fundamentals and technical analysis.
Source: Cryptonews
