The last few days have been difficult for most assets in the cryptocurrency market, but some assets have stood out over their weakness to overcome the current difficulties, which is why it might be a prudent decision to avoid them for the time being, or at least until this Halloween.
Indeed, Finbold has analyzed the cryptocurrency sector, taking into account factors like price activity, recent developments, and risk to arrive at the list of three digital assets that should wait for better times before dedicating a significant portion of one’s portfolio to them.
Although it has managed to record positive price movements on its monthly chart, Ultrain (UGAS) lacks positive developments that could spark investor interest despite its promise to create a sustainable commercial ecosystem enabling various industrial applications through innovations in cryptography.
At press time, Ultrain was trading at the price of $0.0009125, recording a decline of 1.71% in the last 24 hours, as well as losing 8.26% across the previous seven days but still holding onto the 5.05% gain in the last month, as per the data on October 13.
Another cryptocurrency that warrants caution these weeks is ICON (ICX), the project promising to “hyperconnect the world” through a decentralized cross-chain network but has failed to deliver any meaningful developments in recent weeks.
Currently, ICX is changing hands at the price of $0.165, which represents an increase of 1.06% on the day, as well as a 5.32% gain across the previous month but still a decline of 2.8% over the past week, as the most recent charts indicate.
Uquid Coin (UQC)
Meanwhile, despite having potential and use cases in real-world scenarios, the decentralized virtual currency and smart shopping platform, Uquid Coin (UQC), has not graced the cryptocurrency industry with significant developments in recent months.
As things stand, the price of UQC is presently $2.833, up 0.29% on the day but accumulating a loss of 1.95% on its weekly chart, and declining 6.76% in the last 30 days, according to the most recent information obtained by Finbold on October 13.
All things considered, the time might not be right to invest in the above crypto assets. That said, it is important to carry out one’s own research as things can easily change in this sector, and even the listed cryptocurrencies to avoid might still change their outlook and become worthy additions to anyone’s portfolio.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.