Crypto Catastrophe: The Altcoins You Should Dump Before It’s Too Late! 😱💸

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As the crypto market flounders like a fish out of water, the illustrious Nasdaq 100 index is teetering on the brink of what the financial wizards ominously term the “death cross.” One can only imagine the stock market’s descent into chaos, dragging the crypto realm down with it like a hapless anchor. This delightful little article will guide you through the altcoins that might just be better off in someone else’s wallet if that dreadful cross comes to pass.

Nasdaq 100 Index: A Dance with Death

Ah, the US stock market, a veritable rollercoaster of emotions, has taken a nosedive, all thanks to the ongoing Trump tariff tantrum. The gap between the 200-day and 50-day Weighted Moving Average (WMA) is narrowing faster than a politician’s promises, threatening the dreaded death cross pattern. 

Should this calamity unfold, keep your eyes peeled for the next critical level at $17,435—a drop of nearly 10% from the current level and a staggering 20% below the year-to-date high. Welcome to bear market territory, folks! 🐻

Altcoins to Sell Before the Nasdaq 100 Takes a Plunge

In the event of a stock market crash, the crypto market is likely to follow suit, like a loyal puppy. The altcoins that should be swiftly jettisoned include those with the financial fortitude of a soggy biscuit: Toncoin (TON), Avalanche (AVAX), Ethena (ENA), and Cronos (CRO).

Toncoin (TON)

Toncoin is a prime candidate for your sell-off list, primarily due to its dismal fundamentals. The top tokens in the TON Blockchain—Hamster Kombat, TapSwap, and Notcoin—have plummeted, costing investors a fortune. On-chain data reveals a catastrophic drop in active addresses, wallets, and users, while Toncoin’s inflation has skyrocketed. 

To add insult to injury, Toncoin’s price has formed a death cross pattern on the daily chart. It has also executed a break and retest, returning to the key point of $2.91, its peak from December 2022. Expect a further decline as sellers eye the key support at $1.08, the lowest point from May 2023. 🥴

Avalanche (AVAX)

Avalanche, despite its blue-chip status, is another altcoin that should be cast aside. Its ecosystem growth has been as sluggish as molasses, even after the much-hyped Avalanche9000 upgrade in December. 

Unfortunately, this upgrade has not sparked any significant breakthroughs, and the network is losing ground to sprightlier competitors like Berachain and Sui. Technically, AVAX’s price has formed a descending channel and a death cross, indicating more doom and gloom ahead. 😬

Ethena (ENA)

Ethena’s price has nosedived by over 75% from its peak this year. The reason for its inclusion on the sell list? Its uncanny resemblance to Terra, which met a rather unfortunate fate in 2022. Ethena’s value hinges on the EthenaUSD, an algorithmic stablecoin promising a yield of over 5%. 

Much like Terra, the USDe stablecoin is as secure as a house of cards, lacking any backing. Ethena’s price remains below all moving averages, suggesting further declines are on the horizon. 🏚️

Cronos (CRO)

Cronos has seen its price plummet by over 64% since December, as the crypto sell-off rages on. The developers have proposed launching strategic reserves, which sounds grand until you realize they want to create 70 billion new tokens, effectively undoing a burn from 2021. If this proposal passes, existing CRO holders will be diluted faster than a cheap cocktail, impacting its price significantly. 🍹

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2025-03-14 16:29