Filecoin ($FIL) took a serious hit during the mid-August 2023 market crash. Meanwhile, Chainlink ($LINK) has regained some lost ground since the start of August. While these top altcoins are still trying to break through the price ceilings, should investors look to growing projects like Domini.art ($DOMI) as the best crypto to invest in? Let’s delve into market analysis, recent developments and forecasts.
Filecoin Slumps Despite Increase in Storage Utilization
In mid-July 2023, Messari published a report on Filecoin’s performance in Q2 2023. According to the report, Filecoin’s storage capacity utilization had almost doubled from 4% in Q1 to around 8% in Q2. This means less competitive legacy storage solutions may be losing ground to Filecoin.
$FIL did see some upward price action on this positive news, but the gains were quickly wiped out during the August flash crypto crash. Following the crash, $FIL fell from $4.7 on July 13 to $3.1 on September 12, a massive 34% decrease.
Yet, experts say recent news, like the Victor Chang Cardiac Research Institute adopting Filecoin, should help $FIL regain lost value in the coming days.
So, while Filecoin recovers, is an innovative project like Domini.art a good crypto to invest in?
Domini.Art Investors Expect More than 600% Gains
Domini.art is the blockchain version of the traditional art market. By using the innovative solutions offered by NFT technology, it helps make buying art easier, more accessible, and possibly more lucrative.
The art market historically yields around 7% returns. The best artworks can have astronomical returns of up to tens of times compared to the investment price. Most of these high-return artworks belong to the high-end category.
Domini.art helps increase your access to these blue-chip artworks in the platform’s marketplace using concepts like fractionalization. Using fractionalization, it converts high-end art into smaller pieces that a group of people can buy at a fraction of the original asset’s price. This way, its investors can build diverse portfolios that can pay returns in the long run.
But these investors can also expect returns as high as 633% from Domini.art in the short run during its $DOMI presale. The price is supposed to jump from $0.0021 to $0.0154, which makes now a great time to invest. To get the best out of the deal, use the “DOMI10” promo code to get an extra 10% bonus on all deposits now.
$LINK Sees Modest Gains Following SWIFT Collaboration
Around August 31, there were reports of a successful experiment spearheaded by SWIFT and Chainlink, with many other major financial institutions also on board. The experiment involved the transfer of tokenized assets across different blockchains using Chainlink’s Cross-Chain Interoperability Protocol.
This news helps establish Chainlink as a significant player in the developing tokenized assets market, merging with traditional systems. Following this announcement, $LINK climbed from $5.83 on August 31 to $5.91 on September 12, almost a 2% increase.
However, despite the positive news, $LINK may lose its gains in the coming days. This may be due to the overall bearish trend in the market that has drastically affected top altcoins like $LINK combined with its negative technical indicators.
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