Monero (XMR) and Zcash (ZEC) have taken a massive hit in recent weeks due to the crypto market’s bearish momentum. While that’s happening, the new sheriff in town, Algotech (ALGT), has emerged as the best crypto investment after raising $1.1 million in its private seed sale.
Stick around to unravel how Algotech (ALGT) outshines Monero (XMR) and Zcash (ZEC).
TLDR
- Experts indicate that XMR price can plummet to $145.55 by February 29, 2024.
- Analysts suggest that Zcash (ZEC) can drop to $20.55 by the end of February.
- Market forecasts indicate that Algotech (ALGT) can reward investors with a 275% ROI by the end of the presale.
Monero’s Recent Setbacks Cast Shadow on XMR’s Future
Monero (XMR) has been grappling with challenges stemming from its privacy-centric technology for months. The community was rocked by a significant wallet hack three months ago, sparking apprehensions about the security of the Monero (XMR) ecosystem.
Amid the security breach, on-chain metrics reveal that Monero’s (XMR) social engagement dropped by 10.2%, with its trading volume plunging by 8.4%. Experts indicate that a cryptocurrency’s trading volume highlights the network’s investor engagement. Unsurprisingly, fewer investors were optimistic about Monero’s (XMR) prospects as they redirected their investments to other crypto assets.
Moreover, Monero (XMR) has encountered significant hurdles amid increased regulatory scrutiny across Asia and European jurisdictions. The announcement by OKX Exchange to emulate Huobi’s actions and delist Monero (XMR) from its platform has deepened concerns within the Monero (XMR) community regarding its prospects for adoption and continued operation.
According to on-chain data, XMR price plummeted from $179.05 to $156.29 over the past month. With Monero (XMR) facing a possible removal from Binance in the coming days, market forecasts reveal that XMR price could drop further to $145.55 by the end of February.
Binance Adds Zcash To Its Monitoring Tag List: What’s Next For Zcash (ZEC)?
On January 4, 2024, Binance added Zcash (ZEC) and several other cryptocurrencies to its Monitoring Tag list. Binance did not specify why it added Zcash (ZEC) to its list, although it emphasized that it conducts routine reviews of all cryptocurrencies and other listed pairs.
Experts indicate that Binance’s evaluations consider poor liquidity and low trading volume. Notably, Zcash’s (ZEC) investor engagement dropped by 5.8% in the past month amid a massive crypto downturn. According to analysts, the sudden crypto market decline could be attributed to increased price correction caused by the recent approval of the first spot Bitcoin ETFs in the United States.
A closer look at on-chain metrics reveals that Zcash (ZEC) plunged from $25.33 to $22.61 between January 4 and January 25. Experts indicate that Zcash’s price action was worsened by increased market volatility, which further discouraged investors from purchasing ZEC tokens.
Although Bitcoin (BTC) is steadily rising, analysts remain bearish on Zcash’s (ZEC) prospects due to negative market sentiment. So, it’s no surprise that Zcash (ZEC) is expected to drop further to $20.55 by the end of February.
Algotech (ALGT) Promises Unrivaled Profitability in Crypto Market
Investors increasingly turn to the crypto market to safeguard their investments as high inflation rates and economic turmoil take center stage in global economies. As the best coin to invest in, Algotech (ALGT) employs extensive technical indicators and historical data to detect profitable patterns, trends, and signals within the cryptocurrency markets.
As a decentralized trading platform, Algotech (ALGT) employs stop-loss orders as a safeguard against potential losses. The blockchain network automatically executes the sale of assets at predetermined price thresholds to mitigate downside risks.
Furthermore, Algotech (ALGT) is equipped with the appropriate licenses and certifications necessary for its operation as a trusted algorithmic trading platform. These accreditations underscore Algotech’s (ALGT) commitment to maintaining compliance with regulatory requirements and industry norms, solidifying Algotech (ALGT) as the best crypto for beginners.
Following its successful private seed sale, Algotech (ALGT) has entered Stage 1 of its public presale, offering tokens at $0.04 each. Market experts continue to express confidence in Algotech’s (ALGT) trajectory, projecting a substantial 275% price increase to $0.15 once the presale ends.
