3 Crypto That Will Be Worth More Than Cardano in Q4

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As a seasoned analyst with over two decades of experience in the volatile world of cryptocurrencies, I’ve seen more than a few market cycles and learned to read between the lines of price charts and fundamentals. The current trend of Cardano (ADA) is concerning, but it’s not all doom and gloom.

2024 has seen Cardano‘s coin underperform, with a 38.8% loss year-to-date (YTD). However, the price of ADA doesn’t seem to be indicating a bottom yet. On the other hand, Sei (SEI), TRON (TRX), and Dogecoin (DOGE) are cryptocurrencies that could potentially demonstrate significant potential for a significant turnaround.

3 Cryptos to Outperform as Cardano May Plunge in September 

Based on Cryptorank’s data, it appears that the price of Cardano has generally decreased since September 2018. The graph provided indicates an average loss of approximately 12.5% over this period, with a median gain of 14.8%. This suggests there’s a high likelihood for continued adjustments or corrections in September.

3 Crypto That Will Be Worth More Than Cardano in Q4

Sei (SEI)

As a crypto investor, I’ve been closely watching the impressive performance of SUI, a Layer 1 blockchain tailored for high-speed trading applications. Despite the broader market instability, the price of SUI surged from $0.2 to $0.319 in just three weeks, representing a remarkable 52% growth. This surge has also boosted its market cap to an impressive $12.94 Billion.

In the realm of Cardano alternatives, the open interest for SEI in the future market significantly increased from $39 million to $98 million, marking a 151% rise. This spike in open interest suggests an escalating liquidity and demand for SEI as a valuable asset. Consequently, this development could potentially boost price fluctuations and reinforce recovery patterns.

3 Crypto That Will Be Worth More Than Cardano in Q4

TRON (TRX)

Over the past while, TRON, a blockchain platform without a central authority, has been gaining more and more attention from investors. This is due to the debut of SunPump, a fresh system for creating meme coins. The introduction of this platform seems to have sparked a rebound in the price of TRX, causing it to reach a peak of $0.17 on Friday, although it later dipped slightly to $0.16.

The surge in this bullish trend has increased TRON’s market value to a staggering $14.1 billion, placing it among the top 9 largest cryptocurrencies. Meanwhile, Cardano saw a significant drop and moved down to the 11th spot on the list.

Based on information from Intotheblock, the number of Total Addresses holding TRON (TRX) has been steadily increasing since August 2020, reaching a peak of approximately $100.8 million in recent times. This upward trend suggests that more people and organizations are either investing in or utilizing TRX, which may lead to an improvement in its liquidity and stability within the cryptocurrency market.

3 Crypto That Will Be Worth More Than Cardano in Q4

The upward trend suggests that investors are confident about TRON, potentially pushing its projected value above $0.3.

Dogecoin (DOGE)

Dogecoin, currently the most valuable meme coin in terms of market capitalization, experienced a significant surge in August, moving from $0.08 to $0.1. This marked a substantial 28.8% rally for the digital asset. The upward trend boosted its market cap to an impressive $15 Billion, which has given it the momentum to attempt breaking through a 5-month resistance trendline and potentially push its price even higher.

Regardless of the decline, large holders with 10 million to 100 million Dogecoins are buying more during this market correction. The on-chain data shows that approximately 18.75 billion DOGE coins are being held, as reported by Santiment. This pattern of holding suggests strong investor interest in Dogecoin, reinforcing its long-term potential.

3 Crypto That Will Be Worth More Than Cardano in Q4

With sustained buying, Dogecoin price prediction could drive a rally to $0.22, followed by $0.3.

Conclusion

According to past patterns, it’s expected that the correction period for Cardano coin may extend into September. The downward trend could prompt investors to focus on up-and-coming cryptocurrencies such as Sei (SEI), TRON (TRX), and Dogecoin (DOGE) in search of a potential bullish movement.

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2024-08-27 21:04