The crash in the crypto industry since the start of the new year has gathered disappointment for the traders and holders. The actions of the Federal Reserve seem to be the story behind the decline of the crypto market.
As per the tightened regulations from the Federal Reserve have held down the cryptocurrency prices which results in a crashdown. Bitcoin’s price has currently sloped down around $41,000 while the total market capitalization of cryptocurrencies dipped to $2.1 trillion. Let’s dip into the top cryptocurrencies to purchase during its bearish rally that has a catalyst which are ETH, NEAR, and ATOM.
Three Strong Altcoins
Ethereum is the most valuable altcoin among the cryptocurrencies which offers the best transformation for holders. As of now, ETH has crashed over 35% since its lowest price at the start of October 2021. The tightening regulations from the Fed are the reason for the decline which results in a depressed state for investors.
On the other hand, Terra and Solana are shaping to be the ETH-killers in the market. Moreover, the Ethereum network is in the transition period as its framework is converted from proof-of-work to proof-of-stake technology. This transition will address the challenges that the Ethereum network faces. Furthermore, ETH’s launch of the London Hand fork aided in raising the price value in 2021; as such, Ethereum’s price value tends to rise following a major update.
NEAR is the next top altcoin which is an ever-growing network gaining more popularity. Significantly, NEAR has become one among the best performing cryptocurrencies last year which has soared to 887% from its lowest level in October. Following the release of Nightshade sharding technology, the NEAR protocol had huge gains. This is a technique for breaking down blocks into shards in order to increase speed. The initial phase of the sharding process will be a major catalyst for the NEAR price to rise.
Consequently, Cosmos (ATOM) is another strong altcoin that has bounced towards an upward trend in the past few months. ATOM is a cryptocurrency that powers a network of blockchains that are meant to scale and work together. The upcoming bridge will help in the price surge of cryptocurrency. Besides, this bridge opens up the connection between apps created by Cosmos with apps built using Ethereum. Furthermore, these cryptocurrencies have the catalyst and are easy to invest during these sell-offs.
