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The recent crypto bloodbath has impacted major tokens like Toncoin (TON) and Avalanche (AVAX). TON has experienced a 22% decline over the past week, indicating a bearish long-term outlook. Similarly, AVAX faces significant challenges, with its price falling below the critical $25 threshold amidst market volatility.
In contrast, DigiHorse (DIGI) is rapidly gaining interest as it prepares for stage 2 of its listing, with a potential 2150% increase in listing price anticipated.
Toncoin's price has been on a downward trajectory, pushing investors from optimism to a renewed sense of pessimism. This shift is evidenced by the negative funding rate, which suggests that traders are predominantly taking short positions, betting on further declines in TON’s value. This trend indicates a bearish sentiment in the market and could lead to significant losses for those purchasing at current levels.
The main driver behind TON’s potential decline seems to be the actions of "whales," or large holders, whose buying and selling significantly impact the market. Data from IntoTheBlock shows a dramatic decrease in TON Large Holders’ Netflow, down 97.05% in the last week, indicating a shift from previous large inflows.
A negative netflow suggests that whales are selling more than they are buying. This selling activity, highlighted by transactions totaling 1.4 million TON tokens from July 21 to 28, could further depress Toncoin's price and offset any mild gains recently observed.
The price of Avalanche AVAX has plummeted by 35% over the past week, falling from $28.66 to $18.58, mirroring a broader market sell-off amid heightened uncertainty.
This sharp decline has led traders to shift their sentiment after briefly holding bullish positions on July 27. On-chain analysis indicates a significant change in market sentiment towards AVAX. According to Santiment, the funding rate for AVAX has seen a violent and harsh switch, reflecting traders' changing outlook.
A positive funding rate usually indicates that the perpetual contract price is trading above the spot price, signaling a bullish trader bias. However, the current negative funding rate suggests that traders are now predominantly bearish, expecting further declines in AVAX's value.
DigiHorse Empires continues to draw significant investor attention during its presale phase, with DIGI tokens offered at an appealing price of $0.003333 each from a total supply of 1,125,000,000.
The presale is structured across 10 stages, designed to gradually increase the token prices. This strategy encourages early participation and aims to reward early investors with potential returns that could surpass 2000% by the next stage of its listing.
More than just a gaming platform, DigiHorse Empires is becoming a key investment opportunity within the burgeoning GameFi sector. Backed by a strong community and a clear strategic vision, DigiHorse is poised to become one of the standout presale events in the Web3 gaming arena.
Learn More About the Thrilling Opportunities of DigiHorse ($DIGI) Presale Now!
Website: www.digihorseempires.io
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
