XMR Facing Further Dumps After Binance Delisting – Whales Favor Algotech (ALGT)
The post XMR Facing Further Dumps After Binance Delisting – Whales Favor Algotech (ALGT) appeared first on Coinpedia Fintech News
Listing and delisting on crypto exchanges always had an impact on the prices of cryptos. The most famous cryptocurrency exchange, Binance, is known to give the most significant price drops and surges after listing or delisting cryptos. In the past, many memecoins and cryptocurrencies experienced a surge after listing on Binance.
Recently, Binance announced that it would delist 10-12 cryptocurrencies because of higher volatility and risks. Popular privacy-focused token called Monero (XMR) experienced a significant drop after Binance announced the delisting of this token. Many investors reacted to this move, and after this announcement, the price dropped to $100 from $160+.
The investors got bearish for Monero (XMR) as the price dropped by 40%, and it is expected that the drop will continue in the coming days. Not only Monero but other cryptocurrencies included in the delisting list experienced a sudden drop, like Zcash (ZEC), Firo (FIRO), Horizon ZEN, Aragon (ANT), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), GMX (GMX) and SushiSwap (SUSHI).
After the price drop of popular cryptocurrencies, the whales shifted their interests. They gave a signal towards new potentially strong crypto projects like Algotech (ALGT), Injective (INJ), and Sei Network (SEI). Algotech got the most interest for being the moonshot project of the coming bull run.
Let’s have a look at Algotech (ALGT) and why whales think it’s a great investment in the crypto space and for the coming bull run.
Whales Are Bullish For Algotech (ALGT)
Monero’s (XMR) price drop concerned investors and large-scale investors. The focus is now diverted toward large-scale DeFi projects with higher upside potential. Whales are now taking positions in Algotech (ALGT) before the start of the bull run as, according to them, this project can give them massive gains at the end of 2024.
Algotech (ALGT) is a decentralized crypto trading platform that has gained popularity for features like hedging, mean reversion, trading bots, social trading features, momentum trading, and algorithmic consolidation.
The main event that attracted the whales was the project’s private seed round, in which the project raised $1.1 million within two days. Currently, it is at Stage 1 with a token price of $0.04 and is expected to go up to $0.12 in the coming Stage 4.
Algotech (ALGT) is stealing the spotlight from major crypto projects because of its strong tokenomics model and deflationary mechanism. Their detailed roadmap has excited investors about the upcoming supply crunch as well.
You can find more details about this project:
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