Cryptocurrency

Solana And Avalanche Following Downgrade Market, Will ScapesMania change trends?

The cryptocurrency market is currently in a downturn, with major tokens like Solana (SOL) and Avalanche (AVAX) experiencing significant declines. This trend is partly due to institutional sales linked to new exchange-traded funds (ETFs), which have negatively impacted Bitcoin (BTC) prices, leading to over a 20% drop in some tokens in the past week. The broader market, as indicated by the CoinDesk 20 index, has also fallen by 4%. Analysts at Bitfinex have observed substantial losses for short-term Bitcoin investors, suggesting potential further market drops. With a cautious outlook, some traders expect Bitcoin to potentially fall to around $38,000.

Unlike established tokens, newer digital currencies are yet to follow downwards. In this text, we are going to give Solana (SOL) and Avalanche (AVAX) holders a nice alternative in the form of a cryptocurrency that does not suffer from the same market trend. Instead, it’s poised to potentially grow even more after its fast-approaching listing.

ScapesMania: A Newcomer to the Crypto Scene

ScapesMania’s presale is almost over, with the fundraising expected to finish in February. Following that, the project will make its debut on exchange platforms – the potential launchpad for the token’s journey to the moon.

Supported by skilled marketing efforts after listing, ScapesMania continues to expand. The project offers exciting opportunities such as buyback, burn, and staking for holders. Early buyers also have the chance to receive up to +102% in bonuses.

What’s more, the token’s utility is built for longevity. It’s not another fleeting meme reliant on hype.

Don’t miss your chance – secure your tokens at a discounted price now. As the presale is racing to its close, you need to act swiftly!

Project Highlights

ScapesMania emerged as a one-of-a-kind gaming ecosystem that caters to two distinct audiences. It offers casual gamers an immersive experience while empowering crypto enthusiasts to enjoy the rewards of the project’s performance and actively shape its future.

For many crypto enthusiasts, ScapesMania has already become one of the top new projects for 2024 and beyond. The community’s excitement is evident as the project has successfully raised over $4,800,000+ to date solely from crowd/retail contributions.

Presale Opportunities

If you’re looking for more predictable growth, take a closer look at ScapesMania’s proposition. The presale offers buyers a chance to reap the early bird advantage by acquiring tokens at a whopping 20% discount.

Note that the discount won’t last forever – the clock is ticking and all interested in leveraging this offer need to act fast. Also, while it’s still somewhat breaking news, you have enough time to follow the crypto whales with deposits of $20,000+ – they’ve recently made significant moves, acquiring a substantial amount of ScapesMania.

>>> Presale Closing: A Final Chance to Secure Discounted Tokens <<<

Growth Potential

A closer examination of ScapesMania’s tokenomics and other features provides insight into why it could be one of the best altcoins to hold now. The ecosystem operates within the flourishing $376 billion gaming industry which is only projected to grow, reaching $521.60 billion by 2027.

The innovative core idea, impressive presale figures, $100,000 giveaway, undying social media hype, and other positive aspects suggest that ScapesMania could continue its winning journey.

Presale Countdown: Limited Time Left

The listing date is almost here, so don’t lag behind. Seize an opportunity to be a part of the ScapesMania launch and to potentially benefit from it. Hurry to secure your tokens at a discounted price – time is of the essence!

Secure higher gains by grabbing a sizable bonus of 10% on ScapesMania! Use code DGB913 at checkout in a special textbox for an even better deal on a cryptocurrency that could make you the envy of the entire crypto community. Act fast – the offer is valid for a limited time only.

Solana (SOL): Navigating a Steep Decline

Solana (SOL) is currently experiencing a challenging phase in the market. The coin has seen a significant drop, outpacing the decline of its peers. This downturn follows a period of intense bullish volatility that previously propelled Solana (SOL) to impressive heights. The recent 24-hour slump has been recorded at 1%, bringing the price to around $84. This decline is not an isolated event but part of a broader trend, with weekly losses exceeding 13%.

Solana (SOL) price range currently fluctuates between $64.84 and $132.36. The 10-day moving average stands at $91.81, while the 100-day moving average is at $68.99. The coin has established support at $27.97 and resistance at $163.01. Despite these figures, the recent downward trend has raised concerns about the sustainability of Solana’s growth.

Looking ahead, Solana (SOL) faces both potential growth catalysts and challenges. The broader market trend, particularly Bitcoin’s performance, will significantly influence Solana’s trajectory. Positive developments, such as the anticipated Solana Mobile upgrade, could attract new users and change the narrative for Solana (SOL) in the mid-to-long term. However, the current bearish trend and market skepticism pose significant hurdles for Solana (SOL) recovery and growth.

Avalanche (AVAX): Facing a Downward Trend

Avalanche (AVAX) has also been under pressure, with a 37% decline in value over the past month. This downturn is attributed to a decrease in user activity on the Avalanche C-Chain network, a critical component for decentralized applications (dApps). The decline in demand and user engagement has led to a significant drop in network transactions and fees.

Avalanche (AVAX) current price range is between $28.33 and $31.76. The 10-day moving average is $29.70, and the 100-day moving average is $29.10. Support levels are identified at $22.63 and $26.06, while resistance levels are at $32.92 and $36.35. These figures reflect the recent challenges faced by the Avalanche (AVAX) token.

The future of Avalanche (AVAX) hinges on revitalizing user activity and demand on its network. The decline in decentralized finance (DeFi) metrics and transaction volumes on decentralized exchanges (DEXes) housed on the network are concerning. For a positive turnaround, Avalanche (AVAX) needs to boost its user base and enhance network utility. However, the current market conditions and reduced user engagement present significant challenges for Avalanche (AVAX) recovery and growth prospects.

Conclusion

The cryptocurrency market is currently navigating a challenging phase, with established tokens like Solana (SOL) and Avalanche (AVAX) facing significant downturns. This trend is influenced by factors such as institutional sales impacting Bitcoin (BTC) prices and a general sentiment in the market. In contrast, ScapesMania, a newcomer to the crypto scene, presents a more optimistic picture. It’s currently in the presale stage, offering potential early bird advantages and generating significant interest among both crypto enthusiasts and whales. Right now, it seems to be the best project to turn to if  you’re holding the underperforming Solana (SOL) and Avalanche (AVAX).

The post Solana And Avalanche Following Downgrade Market, Will ScapesMania change trends? appeared first on Blockonomi.

Related posts
Cryptocurrency

DOGE and SHIB Set for Huge Boost: What It Means for MTAUR

IMAGE ALT: Dogecoin (DOGE) and Shiba Inu (SHIB) Celebrate Minotaurus (MTAUR) IMAGE TITLE: DOGE…
Read more
Cryptocurrency

Bitnance (BTN) Breaking Ice, New BEP-20 Token Presale Tops $17.5K

A new store of value token coming to the Binance Chain is making waves due to its potential for…
Read more
Cryptocurrency

XRP Price Set to Drop Under $2 Billion Penalty, While MTAUR Expected to Soar

Ripple (XRP) is currently facing significant challenges as it contends with a looming $2 billion…
Read more
Newsletter
Become a Trendsetter

Sign up for TheTechly’s Daily Digest and get the latest and trending technology updates.

[mc4wp_form id="729"]