Here’s Why The Top Crypto Price Gainers Are Struggling to Make Headway

The market conditions of the cryptocurrency industry had been dire for the past couple of months. Millions of dollars were being drained from the sector, as investors feared further bleeding. The bear market has definitely created opportunities for more investors to learn about the domain, but at the cost of the top crypto struggling to push forwards in terms of price. 

Naturally, the crash back in early 2022 was when the industry lost most of its value almost instantaneously. The prices didn’t seem to reverse instantly after either, putting investors in a state of fear. However, the prices surprisingly didn’t seem to plunge in value to a great extent further too. Infact major cryptocurrencies were stagnant in price, instead of taking an uptrend or a downtrend. That was until the recent FTX debacle transpired. 

Bitcoin, the front-runner cryptocurrency was trading at the $20,000 level for more than a month, with investors anticipating a run-up in the upcoming days. But the price dropped at a rather quick pace to the $16,500 range, right after the market was gripped with speculations of FTX potentially going bankrupt. Further price drops were evident in the market as these speculations turned out to be true. 

But why is a majority of the top crypto struggling?

On 2nd November, the popular crypto website CoinDesk leaked a confidential balance sheet of the FTX group, which showed that Alameda Research, which was headed by FTX’s founder Sam Bankman-Fried was completely dependent on the exchange’s native token FTT financially. 

There were several levels to the way discrepancies in the management of funds within FTX and Alameda Research came to light, but every development brought crypto prices to a lower range. Refer to this article to learn more about how and what exactly caused the massive exchange to file for bankruptcy. As of today. FTT, which was trading at around $25 is looming within the $1 range. 

But how did this affect crypto prices?

Well, the cryptocurrency market has always responded to negative news about almost any entity in the industry on a large scale. In an ongoing crypto winter which was already flooded with news regarding further pain in the markets, FTX simply acted as a negative catalyst. It furthered the frenzy within the blockchain sector and triggered mass selloffs.

This, however, was a much-expected outcome as FTX was the third largest cryptocurrency exchange in the world after Binance and Coinbase in terms of volume traded. The company catered to more than a million investors and backed some of the biggest projects in the space. A shutdown of an organization this big affected all related and unrelated cryptocurrencies to a great extent and has since paved the way for top crypto suffering in terms of price. 

Are there any projects that could serve as a hedge in this situation?

While it may be a very subjective question, a simple response would be yes. Under any market circumstances, there are projects that could provide market-beating returns due to a variety of factors. As long as these factors are strong and can also provide sustainability to the project, it is an excellent option to consider parking funds in such assets. 

At the moment, there are three projects which may be due for excellent returns in the upcoming weeks. As all three projects are still in their early phase, it might also be the best time to consider stocking up on tokens. 

Dash 2 Trade (D2T)

This project is not only gaining traction for its excellent product offering but also due to the recent FTX fiasco. Dash 2 Trade is originally a crypto analytics and social trading platform which is set to launch with a variety of other features. The project is founded by Learn 2 Trade, which is a financial education platform with an existing user base of more than 70,000 members. 

Dash 2 Trade may be the perfect buy for any investor to avoid being caught up in issues like FTX’s bankruptcy. It is set to provide on-chain data and will report any discrepancies in projects or organizations in real time to users. This added with other festers like trading signals and a community full of experienced traders makes Dash 2 Trade a potential top gainer. 

At the time of writing, Dash 2 Trade has already raised more than $6.6 million in its presale and is on track to finish the current phase. The surge in demand is also an indicator of the kind of growth D2T the project’s native token could see in the upcoming months. 

IMPT.io (IMPT)

Another reason for the crypto market’s stagnancy has been criticism of the environmental hazards posed by blockchain. IMPT.io manages to counter this effectively with its product and concept. Announced recently, IMPT.io is one of the best eco-friendly cryptocurrencies to be launched in 2022. 

The project aims to help the environment by offsetting carbon emissions that are caused due to blockchain transactions. Ideally, IMPT.io is set to be a marketplace. It has already gotten more than 10,000 major brands to commit to becoming a part of the project post-launch. On buying from the IMPT.io marketplace, users will be rewarded carbon credits, which they will have the option to retire or sell. On retiring, they will be awarded high-quality NFTs from popular artists which they could trade or hold on to as investments. 

The native token IMPT is set to be launched as a high utility token and could be an excellent investment currently. The project has already managed to raise a whopping $13 million dollars and is only in its second stage of the presale. 

Calvaria (RIA)

This P2E NFT trading card game is one of the best examples of a project in sync with current trends, mainly due to its excellent visuals and compelling story-based concept. Calvaria is also a new project, which is gaining traction as one of the most creatively appealing games in recent months. 

It features a Calvaria Universe, which is what the entirety of the ecosystem is called. Within this universe, there are three components or locations, namely Arcilla Divina, Miaquilia and The Void. Each NFT character card in the game will be created based on these three locations. As a trending category in the crypto space, Calvaria may be a huge success according to its community and several experienced crypto YouTubers like Jacob Bury

Calvaria is currently on its way to clocking $2 million in presale and has already been embraced by a wide community which is evident on a variety of social media platforms. At the time of writing, the project is in its 4th stage of the RIA token presale with a quick and consistent increase in raised amounts. 

Conclusion

While some of the top crypto may be suffering, it is very likely that prices may increase sometime in the future. Several aspects are affecting these prices at the moment, but investing in high-potential projects can be an excellent way to win profits even during this crypto winter. 

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