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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.
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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 $0.0021 apiece. Its presale growth is a noteworthy indicator of its potential as a high-growth token. Domini.art is on the right track as a pioneer with unique features.
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BitTorrent ($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.
Conclusion
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.
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*This article was paid for Cryptonomist did not write the article or test the platform.