The crypto market is bleeding these days. Crypto analyst Cheeky Crypto comments on whether the 5 altcoin projects will be able to survive in this bear market.
The first altcoin on the list ADAX (ADAX)
ADAX is an automated liquidity protocol built on Cardano. ADAX’s total locked value is just $6,648, but the analyst thinks ADAX ‘will do really well’. ADAX is down almost 3.14% to trade at $0.1033, at #3573. Its market cap is also low, just over $5.5 million. But that’s great, there’s a lot of upside potential, according to the analyst.
The second project on the list is Reef (REEF)
Reef, Reliable Extensible Efficient Fast Layer-1 Blockchain for DeFi, NFT and gaming. Built using the Substrate Framework, it provides high scalability. According to the analyst, this is a project that will not survive in a bear market. It’s basically at an all-time low and ultimately it has one more downside. It is currently ranked 299th by market cap, at a price of 0.006471, down 3.47%. As this project is not moving, the analyst is not considering investing.
The next altcoin Chris mentioned is TRON (TRX)
TRON (TRX), the details of which can be found in this article of Kriptokoin.com, by the Tron Foundation A decentralized Blockchain-based operating system developed and released in 2017. This project will perform alongside several other projects in space. It ranks 18th by market cap and is changing hands at $0.08926, up 6.71% even on the decline. According to the analyst, this project can definitely survive the bear market.
Chris takes a look at Litecoin (LTC), a legacy project
Litecoin (LTC), a cryptocurrency designed to provide fast, secure and low-cost payments by leveraging the unique features of Blockchain technology The analyst, who says “it will fail completely”, sees the altcoin as an old technology and cumbersome and does not think it will turn out well.
The last altcoin on the list Bitcoin Cash (BCH)
Bitcoin Cash is a peer-to-peer electronic cash system that aims to be solid global money with fast payments, micro fees, privacy and high transaction capacity. This is also an old project and is trading at $264.52, down 4.23% daily. The analyst says that this altcoin project is also not suitable for him.