Cryptocurrencies have made their global presence. Bitcoin is the first crypto token to enter the investment market in 2009. Bitcoin, in general, came to be also known as cryptocurrency.
With the growing interest in Bitcoin, many other digital tokens made their entry. Today, as we speak there are more than 14k+ crypto tokens in the global investment market.
The total market capitalization of this investment model today surpasses $3 trillion.
Altcoins or alternate coins are nothing but any other crypto than Bitcoin. A few examples of popular tokens are Ethereum, Shiba Inu, and Polka Dot.
These altcoins account for more than 50% of the total investment market.
Market performance of cryptocurrencies
Unlike the stock market and other investment models, there are no regulations around crypto. Digital currencies enable easy peer transactions and are completely unregulated.
There is no intervention from any third party or regulatory agencies to monitor cryptos. Many governments today are studying this investment model. There are steering committees continuously making their way to manage crypto investments.
While there is no ban on using and investing in cryptos, these digital tokens are yet to gain their status as a legal currency.
The market performance of cryptos has always been exciting. The token has witnessed major price hikes and surges in the past decade.
Many early investors have gained immense profits. There is also another set of investors who have lost their entire holdings through cryptos.
The year 2022 has comparatively been not a favorable year for cryptos. The market opened with various hopes. However, by end of March and the beginning of April investors were under major pressure. Various tokens faced massive price declines.
Popular tokens including Bitcoin, Ethereum, and Shiba also faced the heat. The price of Bitcoin dropped from $65k to $20k in less than a month.
Many investment experts called this phase crypto winter or the bearish market. Many investors pulled their entire investments to avoid further losses.
The exact reason for this price fluctuation is still unknown. Investment experts blame the ongoing economic crisis, changes in dollar value, etc.
Also, the prices of crypto tokens are controlled by market hype. There is a certain level of hype and fluctuation that is created on each token.
This market fluctuation tends to increase and decrease the prices of these tokens.
Despite, the ongoing distress there were a few tokens that performed well in the crypto market.
Let us take a look at four alternate coins that did not fall prey to the market condition.
USD Coin (USDC)
USDC is one of the widely accepted stablecoins developed and circulated by Coinbase. Stablecoins have their prices directly pegged to any other asset or commodity.
In the case of USDC, the price of the token is pegged to the US dollar. USDC has performed well in the investment market beating Tether in the Ethereum platform.
The Terra USD (USDT) wiped out the entire investment market, and USDC made a difference. Many investors migrated their funding to USDC increasing its holdings.
Built on the Ethereum blockchain, Uniswap is another crypto for your consideration.
The platform makes use of a new working model known as the automated market maker. Investors can complete their online trading of cryptos without any third party.
If you are looking for an alternative to Ethereum, then Fantom is your answer. The protocol makes use of layer 1 protocol to execute smart contracts and Defi.
In the past few months, the price of tokens has been steadily increasing. The token also recently launched its stablecoin as well making it a reliable token. The token currently holds the 57th position by market capitalization.
Yes, these three tokens may be considered for your investment. But it is also true that no crypto tokens escaped the current market crash. Many popular tokens have been struggling to retain their market presence.
But, another important factor for our consideration is the opinion raised by investment experts. Many crypto experts believe that the current market condition will improve.
Crypto markets will be able to recover the losses in a period of 18 to 20 months.
It is necessary to keep calm and make sure that your investments are handy.
You can also learn more about to kmow is bitcoin harming the environment.