Briefly –
- Crypto prices incurred a massive pullback over the last few days.
- That had the crypto spectrum losing over $200 billion this week.
- Here are three altcoins like to rebound.
Crypto price encountered a massive retracement this week after the Christmas weekend upswing. It is somehow not clear what the plunge occurred. Meanwhile, Bitcoin suffered as it crashed to $47K from $52K. That had the global market capitalization declining from $2.6 trillion to $2.4 trillion. Here is the alt dip buyers might consider at the moment.
Polygon saw its price dropping by around 2% over the past 24hrs. Nevertheless, the altcoin trades near its ATH, hovering at $2.58 at this publication. Polygon (MATIC) is a layer2 blockchain that aids developers create Ethereum-based applications. Many developers consider building their applications directly on the Polygon platform.
With that, Polygon saw considerable growth recently, housing 149 DeFi apps in its network. Moreover, Polygon’s total value locked rose towards $5.5 billion. Recently, the network added Uniswap, one of the leading DeFi networks globally. For now, Polygon attracts many applications. That means MATIC price has a chance to keep surging in the short term.
Also read:Terra (LUNA)
Terra (LUNA) is a blockchain project based in South Korea, and it has seen massive growth recently. Developers can utilize this network to build applications like those in the decentralized finance (DeFi) space.
Though Terra boasts 13 applications only in its ecosystem, the apps’ TVL stands at $18.1 billion. With that, it ranks 2nd-largest after ETH. Terra platform is now bigger than Binance Smart Chain and Solana.
Also, market players recognize Terra for its stablecoins, with its most known, TerraUST, becoming the 4th-biggest globally. As the adoption increases, Terra’s price has the possibility of rebounding.
Fantom (FTM)
Fantom is another ETH competitor that developers prefer. Also, the project allows developers to create decentralized applications. Recently, its ecosystem noted increased apps, toppling 102. Moreover, their total value locked rose to $5.79 billion. With that, Fantom became the 6-largest DeFi building network in the globe.
FTM saw its price surging sharply over the last few days. That had it increasing its overall market cap to over $5.88 billion. The growing popularity can translate to FTM prices bouncing back.
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