#Altcoins #Cryptocurrency #Bitcoin #Ethereum #Lido #Algorand #Ripple #altcointobuy
Many Ethereum supporters had high hopes for the merger. However, immediately after the update, all cryptocurrencies collapsed, including Ether and Bitcoin itself, which lost $1,000. Since 15 September, the cryptocurrency market has been experiencing mostly falls.
Only some altcoins remain on the plus side, such as Lido (LDO), Ripple (XRP) and Algorand (ALGO).
Lido (LDO)
Lido (LDO) has corrected along with Ethereum and is now on the plus side. The current price of Lido is $1.94, having added 6.3% in the last session. The 24-hour trading volume was $111,373,150.
Source: CoinMarketCap
ETH traders most likely profited on long Ether positions, the merger went well, stackers and validators continue to earn income from the altcoin. And the optimistic outlook for Ether hasn’t gone anywhere.
In fact, if Ether’s decentralized applications (DApps) continue to expand and active users increase, traders’ savings will increase. And the returns in a falling market will surely attract capital.
Lido allows users to bet on their ETH without a minimum deposit. The user can also increase their profits by participating, for example, in lending.
In other words, Lido is its own service token, which can be used to grant management rights in the Lido DAO, manage commission parameters and allocations, and add or remove Lido node operators.
Ripple (XRP)
Ripple (XRP) is also attracting attention with its strong growth amid a bearish cryptocurrency market. During the week, the coin rose in value by 22%.
Today, Ripple is trading at $0.4067, having lost 1.7% in the last 24 hours. In the past 24 hours, however, it has gained 5.22%, so the loss is small.
Source: TradingView
On the day of the merger, Ripple dropped in value, as did other cryptocurrencies, closing that day at $0.3256. The next day, however, the coin was up and gained more than 22% in a week, outperforming many other altcoins, such as Solana, Cardano, BNB, Tether and others.
The two-year court case is nearing its conclusion, and the fact that Ripple claims it has not violated US securities laws has shifted the market’s attitude to be positive towards XRP. Regardless of the SEC’s decision as to whether XRP is a security or not, the possibility exists that investor interest will fall. The price could then trade in a sideways range for quite some time.
Algorand (ALGO)
Algorand (ALGO) has also rallied back to 2020 value levels. There have been intermittent buying rises, but they have not been sustained and have failed to break the $0.40 level.
Source: TradingView
However, if the broad market starts to recover and ALGO’s buying volume remains the same, the next support level will be $0.69. A much higher value level is then possible if the close above $0.80 and this would be confirmation of a trend reversal.
As a result, the cryptocurrency market still hasn’t bottomed at the moment, although some analysts are predicting a huge rise in Bitcoin. However, their predictions clearly do not apply to this year. How to handle risky assets, given their significant volatility: Probably by exercising greater caution. Do your best to study the assets carefully, get expert opinion, try out with proven online brokers, practice with demo accounts, educate yourself. You are bound to succeed.
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