As the crypto market enters a recovery phase, traders and analysts are on guard watching the figures dancing between the green and the red lines. Currently, most popular altcoins like MATIC, and SOL are struggling to break past the resistance level.
Despite MATIC’s partnership connections with notable businesses such as GOOGLE, Coca Cola, Starbucks, Disney etc., it has dropped off the Top 20 list based on the Market Cap. On the other hand, Solana’s efforts to move past the breaking point has continued to prove abortive while DigiHorse gains more traction.
Uncovering The Reasons Behind MATIC Rebound’s Failure
Once showing signs of a robust rebound, MATIC has recently hit a snag. After a promising growth spurt that attracted attention from myriads of investors, the token has begun to falter, struggling to maintain momentum.
Within the last 24 hours, the trade volume has dropped to $173,863,039 signifying over 8% decline and decrease in overall market activity.
Analysts suggest that a confluence of market corrections and broader economic concerns has dampened its recovery. As investors look for signs of stability, the market remains cautious, reflecting uncertainty about MATIC’s near-term future.
Solana (SOL) Stagnancy: A Cause For Concern?
Meanwhile, SOL continues to grapple with its own set of challenges. Its efforts to break past the $150 mark have been met with stiff resistance sending it down to $144. This is not the end as analysts believe it may go lower than $100 if resistance persists.
Instead of a downward turn, the signals are forming a sideway trend. This means that the bears have not fully taken over; yet, the bullish movement is weakened.
DigiHorse Emerges Top Contender Among Emerging Blockchain Projects
More than ever before, emerging projects particularly DigiHorse are receiving more attention and giving established tokens a run for their money.
DigiHorse as a new entrant in the NFT and gaming sector, has captured investor attention with its innovative platform that merges digital racing with blockchain technology. With rising market interest, DIGI envisages a significant increase in value, positioning it firmly in the spotlight.
Moreover, it is a first of its kind with diverse earning opportunities. Players can not only earn through racing NFT horses but can also trade them and their venues (Hippodromes).
Stakeholders are optimistic that this trend will continue as the platform rolls out additional features and partnerships in the coming months.
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