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22.11 - 19:43
Immune to broader market trends, ALGO looks ready to make a dash for $3
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Until a couple of trading sessions back, the crypto market was seen thriving. On the back of rallies of coins like Loopring and Livepeer, the global crypto market cap, in a first, went on to hit the $3 trillion mark.
The sentiment had, however, flipped to bearish at press time. In fact, out of the top 100 coins, only 9 had recorded gains over the past 24 hours. ALGO was, curiously, one among the ‘elite’ ones.
Now, mid cap alts usually have the tendency to adopt to the broader behavior, simply because they follow the footsteps of large cap coins most of the time. One can consider BTC, ETH to be the first coach, or the control car, of the crypto train.
In effect, other coins are more or less like the subsequent coaches that end up treading on
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