DGRN might outperform Polkadot and Avalanche and increase by 3,000% before September 30th. DOT, FTM, and AVAX are other cryptocurrencies gaining prominence in the market.
Despite the recent market crash, investors still become excited about cryptocurrencies, which might soon resume their bullish trend. Some initiatives look promising, which leads many to consider them the future of money.
These prestigious cryptocurrencies include Degrain (DGRN), now in the pre-sales stage, on which most investors are commenting. Other coins like Polkadot (DOT), Fantom (FTM), and Avalanche (AVAX) are also among the most prominent.
Investors Start Selling their Polkadot Holdings to Buy Degrain
Polkadot (DOT) is trading at around USD 7.92 and is targeting USD 8.07, a relevant barrier. The DOT/USD pair is posting a significant rise or further gains that might reach USD 8.50.
The price of DOT rose by around 1.38% due to the overnight gain of the DOT/USD pair. Analysts expect it to increase to USD 8.07 in the short term.
The market capitalization of the Polkadot token, about USD 7.73 billion, places it 10th in the cryptocurrency ranking. The DOT/USD pair has a daily trading volume of around USD 750 million.
Fantom Investors Sell Their Coins to Buy on Degrain Presale
Open-source smart contracts platform Fantom (FTM) often serves as the basis for digital assets and decentralized apps (dApps). It operates on a proof-of-stake mechanism and has a fully decentralized infrastructure.
Amid the current market crash, FTM has become popular due to its USD 0.33 price per unit. It has a market capitalization of about USD 860 million and a daily trading volume of around USD 94 million.
It Will Take Avalanche a While to Resume Its All-Time High
Many people had bought Avalanche (AVAX) since its launch when it started trading at around USD 3 in 2021. When its price reached USD 146 in late November, it outperformed Dogecoin (DOGE) and joined the top 10 cryptocurrencies.
AVAX is trading at around USD 23.82 and has accumulated a 5.2% loss over the last 24 hours. It has a daily trading volume of about USD 507.13 million and a market capitalization of around USD 6.76 billion.
Most Investors Are Talking about Degrain in July
The new cryptocurrency Degrain (DGRN) began its pre-sale on July 7th, selling over 11 million tokens in the first 60 seconds. Besides, the entire allocation for phase one sold out within weeks of the launch.
DGRN, which recently rose by 300%, might outperform Polkadot (DOT) and Avalanche (AVAX) and join the top ten cryptocurrencies shortly. Some crypto analysts predict its price will increase by 3,000% before the pre-sale ends on September 30th.
The same might happen in phase two as investors rush to join the most popular cryptocurrencies in 2023. Even though it is not yet on the list of traded crypto assets, it might become one of the best-performing coins. It is necessary to see how the market behaves before predicting whether its price will reach such high levels.
By Alexander Salazar
