The cryptocurrency market, once bustling with excitement, is now grappling with a significant downturn. In just two days, the total market capitalization has dropped by 7% to settle at $2.62 trillion. Even Bitcoin, the giant of the crypto world, has seen a sharp decline from $71,300 to $66,000, sending shockwaves through the market.
In the midst of this turbulent time, renowned crypto analyst Michaël van de Poppe steps forward, offering a glimmer of hope with his list of the Top 10 altcoins. He emphasizes that real gains are made during these downturns, rather than when everything is booming.
Here’s what you need to know
Top 10 Altcoins with the Biggest Returns
Chainlink (LINK) – Market Cap 10.6Billion
Despite a hefty 40% drop from its peak, Chainlink remains a promising buy as it approaches a cycle low. Trading at $18, LINK experiences a surge in trading volume, reaching $630 million, indicating growing interest in this altcoin.
Celestia (TIA) – Market Cap 2.16Billion
Despite a significant 61% decline from its peak, Celestia stands resilient, presenting itself as a high-potential project amidst the market cycle. Trading at $12.34, TIA continues to attract investors despite a slight dip in the last 24 hours.
Arbitrum (ARB) – Market Cap $3.9 Billion
Arbitrum, a Layer 2 Rollup system, faces a notable 60% drop in value. However, the unlocking of 1.1 billion tokens triggers selling pressure, creating a favorable buying opportunity as the market stabilizes.
Polkadot (DOT) – Market Cap $12.4 Billion
Polkadot showcases its potential amidst a cycle low valuation following Polkadot 2.0 launch and ecosystem expansion. Priced at $8.70, DOT remains attractive despite a minor decrease in the last 24 hours.
DYDX (DYDX) – Market Cap $1.4 Billion
DYDX consolidates at a favorable valuation compared to Bitcoin, hinting at potential growth in decentralized exchange development amid the market turbulence.
WooNetwork (WOO) – Market Cap $814 Million
As another DeFi innovator, WooNetwork anticipates a surge in the DeFi sector. Coupled with Bitcoin’s subdued valuation, WOO offers promising prospects for investors.
SEI (SEI): Market Cap $1.9 Billion
SEI, a new Layer 1 protocol, emerges as a promising option for investors. Currently priced at $0.72 with a marginal 2.78% drop in the last 24 hours, SEI is poised for potential growth.
SkaleNetwork (SKL) – Market Cap $653 Million
SKL remains resilient amidst market turbulence, offering substantial gains with the next resistance level not far from its current price of $0.12.
Cosmos (ATOM) – Market Cap $4.3 Billion
Despite market corrections, Cosmos shows resilience and growth potential, particularly evident on the weekly chart.
Also Read : Big Move Ahead? Reports Hint at Potential $2 Billion Bitcoin Sell-Off by US Authorities
Covalent (CQT) – Market Cap $192 Million
Covalent emerges as a competitor to Celestia, offering investors an alternative with significant growth potential. Currently trading at $0.28, CQT experiences a marginal 0.86% drop in value.
All in All
In conclusion, Van de Poppe’s list of the top 10 altcoins offers valuable insights for investors amidst market fluctuations. As investors navigate through these uncertain times, armed with insights, they stand ready to seize opportunities.