Is Avalanche (AVAX) The Coin to Watch: What About These Two Tokens for Long-Term Potential?
Avalanche (AVAX) is one of the most well-known tokens on the market, and while it might be one of the newer generation tokens – compared to old stalwarts like Bitcoin, Ethereum, and Ripple – it has a lot of potential for the future. Consequently, investors are frequently thinking about investing in the token or adding to their already sizable holdings.
However, there are two other tokens that might have even bigger potential than Avalanche, and these are Smog (SMOG) and Bitcoin Minetrix (BTCMTX). We give you an idea of the potential that AVAX has right now before diving into the details of SMOG and BTCMTX.
What’s In Store For Avalanche (AVAX)?
The first thing one might note is the fact that Avalanche (AVAX) has had a slightly worse time than other major tokens. While it did see a significant boost of 27% over the past month, taking it to the current price of around $36.57, it is yet to fully show its capacity to reach the value of $48.4 in December of last year. That’s in sharp contrast to what other tokens have achieved over the same time frame.
The daily chart shows that Avalanche price has plunged below the 23.6% Fibonacci Retracement level. It is also aiming for the bottom of the pitchfork tool and crossed below the 50-day moving average.
This means that there are two possible outcomes here. One is that it could recover in the next few days after forming the right shoulder of the inverse head and shoulders pattern. In that case, it will challenge the main resistance at $42.50.
The other outcome is that it keeps dropping and hits the 50% retracement level at $30. This will happen if it breaks the bottom of the pitchfork.
Amidst all of this, investors are considering two other tokens to invest, for reasons we shall see.
Solana-Based Smog (SMOG) Is The New Meme Coin On The Block
Smog (SMOG) is the newest token on this list, but it is still one of the top ones. It launched directly on decentralized exchanges, and this fresh Solana meme coin has rapidly reached a $2 million market cap on Jupiter. There is a lot of potential here with an upcoming airdrop.
SMOG is influenced by successful projects like Bonk, Myro, and others, which have all expanded a lot. What’s impressive is that this project has already surpassed those successful meme coins. For instance, SMOG’s decentralized exchange trading volumes have lately outperformed those of Uniswap.
With its remarkable growth, it could do better than projects like SPONGE, which rose 50x from $2 million to $100 million.
Bitcoin Minetrix Brings A Great Idea To The BTC Mining Industry
Bitcoin Minetrix (BTCMTX) is a cloud mining platform that uses tokens and excels in its efficiency and user-friendliness. Unlike normal Bitcoin mining, which is difficult for most people, our platform and its token allow anyone to mine the most popular cryptocurrency. This makes it more available and lets investors earn credits for more Bitcoin mining by staking BTCMTX, which solves the issues of reliability and fraud in cloud mining.
Users can purchase and stake BTCMTX tokens easily in the ecosystem with wallets like MetaMask, which works with Ethereum.
This project has many advantages, such as low startup costs and a simple, secure interface. It makes it easy to join, from buying tokens to choosing the buy-and-stake option, to getting Bitcoin rewards.
The team has a clever plan for the project, and they have a clear roadmap. After the launch, the main goals are to get listed on exchanges, start a big marketing campaign, make desktop and mobile apps, and grow the team. They are also talking with good cloud mining companies to make the stake-to-mine contract, which could lead to a lot of growth.
The next phase will let users withdraw Bitcoin to their wallets and show the stake-to-mine desktop and mobile interfaces. Future plans are to let users trade hash power for mining credits. The team will focus on marketing, expanding to cloud mining rentals, and running the business well.
Bitcoin Minetrix has done very well since the presale. The BTCMTX token has raised over $11.3 million so far, and its price is $0.0136. BTCMTX can be bought with credit cards, ETH, USDT, and BNB. There is also a Gleam giveaway that gives the chance to win a $30,000 mine drop prize.
Conclusion
Investors are pretty on-the-fence about Avalanche (AVAX) at the moment, but Smog (SMOG), and Bitcoin Minetrix (BTCMTX) are doing very well currently and have enormous potential for future growth. It may be well worth your time to take a look at both the tokens, as well as check out their respective social media channels.
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Filed under: Bitcoin - @ February 23, 2024 12:24 pm