The rising volatility in the cryptocurrency market affects many top tokens, and that includes Cardano ($ADA). This top token, which has faced a steady decline in its DeFi coin price since 2021, shows no signs of a bounce back as it recorded a 34% decline in the past two months. The future looks gloomy for the cryptocurrency, as renowned crypto analyst Benjamin Cowen declares Cardano is entering a bearish phase as its price falls even closer to $0.24.
This news has caused concern among investors as they scramble to determine the future of their $ADA investments. Cardano’s trading volume sits at about $116.45 million, and even as it maintains an uptrend, other key on-chain metrics are in the red. The token threatens to break through the key support level of $0.25, showing definite regression and bearish conditions. Its market capitalization is about $8 billion, making Cardano the seventh-largest cryptocurrency by market cap.
$ADA also has a relative strength index (RSI) of 40.0 and a moving average convergence divergence (MACD) of -0.08, showing it is bearish. From its technical analysis, Cardano’s bearish trend makes it a poor option for investors seeking a top cryptocurrency investment for long-term returns. Further crashes in the crypto market could see Cardano’s price fall below $0.20.
Amid these regressions and volatility, investors are seeking alternative investments with the potential to break the $1 mark. InQubeta ($QUBE), Domini ($DOMI), and BitTorrent ($BTT) are three penny tokens topping the list, with high expectations of delivering massive returns on investment.
InQubeta ($QUBE): Merging Crowdfunding and Fractionated NFTs
InQubeta is a name worth watching on the decentralized cryptocurrency list. With a price that places it firmly in the penny crypto category, $QUBE has been capturing the attention of investors seeking opportunities for substantial gains. The token has unique features and a value proposition that resonates with those who believe it can break the $1 barrier. InQubeta focuses on revolutionizing the Artificial Intelligence (AI) industry through crowdfunding fostered by fractionated non-fungible tokens (NFTs).
The project’s native token, $QUBE, recently witnessed presale success, with over $3 million raised and more than 351 million tokens sold. With an initial token price of $0.007 in the Beta stage, the DeFi coin is poised for an exciting journey. Upon launch, the projected DeFi coin price will be $0.0308, offering investors the promise of growth.
The market dynamics around InQubeta are intriguing. Investor interest and its upward trajectory hint that the cryptocurrency will have a significant breakthrough at the end of its presale phase. The allure of $QUBE’s potential to climb from its current penny status to $1 is undeniable, making it a top cryptocurrency investment for substantial returns.
Domini.art ($DOMI): Defying the Odds in the Art Realm
Domini.art is an art-focused cryptocurrency blazing its way through the industry. The DeFi project uses fractionated NFTs to make blue-chip art affordable for all investors. With a quiet but determined presence, $DOMI has begun to attract the attention of investors looking for the next crypto to break the $1 mark.
$DOMI has been steadily carving its path to potential growth. Its recently launched presale is in its beta phase and has recorded a total sale of about 32 million tokens at $0.0021 apiece. Its presale growth is a noteworthy indicator of its potential as a high-growth token. Domini.art is on the right track as a pioneer with unique features.
BitTorrent ($BTT): From Torrents to Tokens
Decentralized file sharing has a new face with BitTorrent, a protocol designed to facilitate large file transfers without needing a central server. The peer-to-peer protocol has impressive features as a distributed transfer protocol, including higher transmission rates. Its native token, $BTT, is built on the TRC-20 blockchain and launched in 2019, hitting an all-time high of $0.0135 in 2021.
$BTT powers several decentralized protocols, including BitTorrent File System, BitTorrent Speed, and DLive. The token has a market capitalization of about $375 million. With higher download speeds and a rising number of active users, sitting at over 100 million monthly, BitTorrent has what it takes to surmount the $1 threshold.
Cardano’s influence in the cryptocurrency market is diminishing as its prices fall. Investors seeking better opportunities to bolster their portfolios are looking towards three penny cryptos with the potential to break $1. $QUBE, $DOMI, and $BTT offer unique features and value propositions that put them atop the decentralized cryptocurrency list as promising candidates to break the elusive $1 barrier.
*This article was paid for Cryptonomist did not write the article or test the platform.