Cryptocurrency markets are coming under broad pressure on Thursday as US equity markets decline in wake of a string of strong US data releases that are likely to underpin confidence at the US Federal Reserve that the US economy can handle its policy of aggressive interest rate hikes. Bitcoin was last down about 1% in the last 24 hours, as per CoinMarketCap, while Ethereum was down a little over 2% over the same time period.
The Fed’s hawkish message at its meeting last week doused cold water on the prospect of any year-end “Santa rally” in cryptocurrency markets. As a result, the short-term outlook into the year-end and early 2023 remains downbeat, with bitcoin more likely to test recent lows in the low-$16,000s that rally back to recent highs in the $18,000s in the near term. Investors might thus be looking to diversify their cryptocurrency holdings into coins that might offer better near-term potential. Here is a list of cryptocurrencies to consider.
FightOut (FGHT) – Presale Now On
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts itself as the future of move-to-earn, wants to change that in 2023. FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. FightOut seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023.
The FightOut app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.28 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
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Luna Classic (LUNC)
LUNC, the native token that powers the original and now largely defunct Terra blockchain, recently found decent support in the $0.00012 support area. As a result of ongoing support, LUNC is one of the outperforming cryptocurrencies in the top 100 by market cap on Thursday and was last up over 2.5% in the last 24 hours.
But its upside potential, for now, is being capped by a downtrend from the September highs in the $0.0006 area. But should this downtrend break, LUNC could well see rapid gains. For example, bulls would be eyeing a quick bounce to the $0.0002 area, which represents a 50% rally from current levels.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with a host of unique features. These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool.
Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales are close to surpassing $10.5 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in under one month.
Visit Dash 2 Trade here
Ethereum Classic (ETC)
ETC, the native token that powers the original, unforked Ethereum blockchain that still runs using a proof-of-work consensus mechanism, is another cryptocurrency that has been catching some attention in recent days due to rising trading volumes since mid-December. Last Wednesday and Friday, volumes hit their highest since the FTX-collapse induced period of volatility in early November, with same suggesting whales could be buying the dip.
ETC was last changing hands around $16 per token, with the cryptocurrency still locked in a downwards trend channel that has been in play since September. But bulls will be hoping that in the coming weeks, ETC can muster an upside break of this trend channel and back above the cryptocurrency’s 21DMA at $18. Traders think that such a break would open the door to a swift rally to the 200DMA in the mid-$25s and the $26.50 balance area.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale this will have risen by 80%. Thus, investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast.
Visit C+Charge here
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