Crypto Whales are Accumulating These Low Cap Gems – Here's Why
As the month of February drew to a close, the crypto market experienced a downturn, erasing much of the gains seen in the previous month. Investors were worried about inflation and jobs data, and regulatory actions in the US raised concerns about government overreach.
Bitcoin, the largest cryptocurrency by market capitalization, was trading flat from a month ago, while Ether, the second-largest crypto, traded sideways. However, the upcoming Shanghai upgrade for Ethereum boosted interest in liquid staking derivatives, causing Lido's governance token, LDO, to surge 33% and Rocket Pool's native RPL token to rise 18%.
Among the biggest winners in February was Bitcoin layer 2 protocol Stacks Network's native STX token, which soared 216%, benefiting from the growing interest in creating non-fungible tokens (NFTs) on Bitcoin. However, there is still no marketplace or infrastructure for Bitcoin NFTs yet, and people are trading them via over-the-counter using spreadsheets for bids and asks.
On the other hand, gaming- and metaverse-affiliated tokens, which were among January's biggest winners, saw a downturn in February, with GMT and GALA tokens dropping 33% and 28%, respectively. Aptos' APT token, which surged in January, dropped nearly 30% in February.
If you're looking to secure your finances in the coming years, now may be the time to consider investing in these alternative investments, according to the financial expert.
Cryptocurrencies have experienced immense growth in recent times, garnering recognition from high-profile investors and crypto whales such as Robert Kiyosaki and Cathie Wood of ARK.
As the popularity of cryptocurrencies continues to surge in the long term, investors must navigate the risks involved in investing in
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