The crypto market on Monday the 12th of August opened on a sour note with the global market cap dipping to $2.05 trillion. This event has again sent Investors and day traders into a frenzy over the uncertainties and inconsistencies that plagued the crypto space in the past few weeks.
This time, it is worse for altcoins and meme coins. FET became one of the top losers descending by 24% within one week. In contrast, DigiHorse gained more popularity among investors and analysts while SUI defied market sentiments.
After taking a 12% jump yesterday, Artificial Superintelligence Alliance (FET) took investors and analysts by surprise dropping drastically by 11% early today, the 12th of August. Overall, it has dipped 24% in the past week. Although it has a daily trading volume of $146.5 million, the market cap has fallen below $2.1 billion.
However, most analysts are positive that this dip is a sign of an impending massive upswing given similar past records.
While FET and other altcoins were taking the heat, SUI defied the odds and instead, jumped over 3%. Over the last week, the coin has had an impressive bullish run of over 83%. The coin has gone up by 5.8% in the last 24 hours, thereby increasing its market cap beyond the $2.4 billion mark and $400m trading volume.
Currently, SUI ranks 30th on the list of largest crypto assets. This recent price surge has been attributed to the recent launch of Grayscale Investment Trust for the crypto asset and the market-wide rebound. Therefore, traders are betting on a price fall sooner.
Following the inconsistent performance of the crypto markets, emerging coin projects, particularly DigiHorse, are gaining more traction. The contrasting trajectories of the crypto market highlight a broader trend where innovative projects that offer tangible solutions are attracting investment.
DigiHorse is a P2E platform that combines the intricacies of the blockchain network with a reward-based system. Hence, players can earn from racing NFT horses, winnings based on performance, own and manage virtual hippodromes (venues for races) or selling spaces within their hippodromes for adverts etc.
This challenges the volatility of the crypto markets and assures investors of risk diversification. This token is currently at its first presale stage and sold for $0.0033 expected to be listed at $0.75. Apart from this significant gain, analysts have predicted an incredible bullish run in the first quarter of its launch coupled with sustainable earnings from its deliverables.
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