The general downtrend in the market has affected even the prices of notable coins like Solana (SOL) and Filecoin (FIL), which have fallen by significant percentages. The community remains optimistic that these coins will rebound from their recent lows. On the other hand, projects like Algotech that have shown resilience also expect exponential growth once market conditions become favorable again.
Solana & Filecoin Likely to Recover
Solana’s recent network issues triggered a decline in transaction rates resulting in a 7.8% drop in SOL’s price. The recurrent network issues as well as the dip in price has raised concerns among investors regarding the scalability and reliability of the network.
Solana is standing strong through the challenges as it has recorded a 2.3% increase in price, bringing SOL to $137.02 per unit. Analysts predict that SOL will recover from the recent downturn and urge enthusiasts and traders to hold strong.
Filecoin also observed a dip from $10 to $5.9 in recent days. This drastic drop in price understandably has investors worried about the future. The price of Filecoin can be expected to fall even more if buyers continue to lose confidence in the project and back out.
Fortunately, the market has a short memory. All it takes is a bullish wave to pull the coin back from the depths of $5.9.
Algotech Surpassing Expectations
Despite the current state of the market, Algotech, an algorithm-based trading platform, is thriving and recording monumental success in its ongoing presale.
This algorithm-based exchange platform aims to optimize trading and make the benefits of algorithmic trading commonplace. This form of trading is underutilized due to its inaccessibility for traders without expensive software and advanced coding knowledge.
Algotech aims to bridge that gap, and the project has garnered significant attention since its first presale round. It continues to experience an uptick in investments since then, raising over $1.1M in a private seed round and $1.7M in ten days after the start of its first official presale.
In an impressive feat, the project sold out its total token offering of its first presale in a little over a week. Algotech’s current funding round has raised over $3.8M and is on the fast track to $4M. The token is valued at $0.08 and will rise by 25% in its next funding round to $0.10. The token’s value is expected to continue to rise as demand increases in the future.
The project offers an attractive potential ROI of 1200%, drawing the attention of profit-seeking investors. Continued growth and success fuel investor confidence and bode well for the project’s fate as it gears up for the official launch.
Final Thoughts
Seasoned traders are no strangers to market volatility, and it is crucial in these times to know when and what to invest in.
Interested investors can contribute to the rebound of Solana and Filecoin by using the markets for these projects on CoinMarketCap. In Algotech’s case, the token is exclusively available via presale.
Join Algotech’s community for more information and updates.
Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice.
