Three Altcoins To Explore | KuCoin’s Latest Spotlight Performance During The Market Uncertainty

2022/01/25 10:01:37

This past week, the roiling of U.S equities by a crash in the tech indices has uncharacteristically broken the crypto price recovery trajectory. Bitcoin and other top-ranking tokens saw a shocking dip during the wild 7 days under review. Traditionally, poor equities performance leads to a boom in crypto purchases, but this did not happen last week. Understandably, liquidation of crypto margin positions and maturity of futures all conspired to pull down market prices.

The news of Russia possibly following in the steps of China to ban crypto activities including mining is thought to have contributed to the price crash seen so far. Bitcoin got past the $43,000 mark during the week with the hope of crypto buyers rising that the support level could hold through the next 7 days. This was to reverse when the stock market faced a dip on Thursday. By the end of Friday’s trading, BTC was tethering at the $34,000 mark and that was how it ended the week.

For Ethereum, it opened the week at about $3,300, only to end it at $2400, which was a remarkable price dip by over 28 percent to end up worse off than Bitcoin. Despite the gloom and the sea of reds, analysts still held up hope as the early Sunday morning trading saw momentary price reversals that showed some green shoots. It is expected that when the prices are at the bottom, the bulls can set in again and spur a price recovery.

While Bitcoin price concerns linger, the mining difficulty has increased, slowing down block production, and positively, the number of rig counts have not slowed down a bit. These factors could lead to a new demand surge and higher prices.

The altcoins here at KuCoin spotlight projects outperformed the market with CHMB & CLH & GARI moving against the trend. A detailed report is presented below.

Notice: KuCoin does not provide financial advice. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology.

Chumbi Valley (CHMB)

Source：KuCoin Blog

Chumbi Valley was in the green territory last week as most tokens faced massive losses. It peaked at $0.1368 on 15 January 2022, to reach its 7-day high and lost momentum as the week ended on Saturday to close at $0.06229.

Chumbi Valley has an ecosystem built on Polygon and the Binance Smart chain, which advances RPG PTE blockchain games. Chumbi Valley has a concept that its NFT creatures known as Chumbi can be bred and curated as a collection, sent on exploration, led in battle, and used for reward earning.

The ecosystem allows you to embark on farming with your Chumbi in order to be able to earn other additional rewards. There is land to acquire in Chumbi Village with opportunities to partner with local dwellers for community growth. The virtual activities and engagement are very much in tandem with the Metaverse.

CHMB is needed by anyone who is buying arable land for farming, settling fees, buying at the marketplace, paying breeding and sage fees, or engaging in NFT staking.

Trade CHMB and 600+ other altcoins on KuCoin

Chingari (GARI)

Source：KuCoin Blog

Chingari broke from the deep losses of most cryptocurrencies for the week to record a 7-day low of $0.3292 and a high of $1.05. Its price performance could be seen in its new listing on KuCoin, which gave it some momentum.

Chingari empowers creatives who have content to share with the world as well as other digital artists looking to showcase their keen artworks. The platform aids distribution of content while providing creators with a fair share of the accrued revenue.

On Chingari, viewers and patrons can also partake in watch-to-earn, engage-to-earn, and play-to-earn activities as they do what they love. The platform is accessed via app downloads so that the functionalities are easy to access on multiple devices from mobile to desktop. Chingari supports web3.0 in data, video, data distribution and interface to boost the content creation dynamics in today’s world.

Holders of GARI are also able to actively drive the DAO with the right to introduce proposals, vote on them and also receive rewards that become available from time to time. With its blockchain, Chingari makes it possible for transparent dealings and review of revenue streams by participants in the ecosystem.

Trade GARI and 600+ other altcoins on KuCoin

ClearDAO (CLH)

Source：KuCoin Blog

ClearDAO recorded a 7-day performance that saw a low of $0.1207 and a high of $0.7405. With its 7-day high on 18th January, CLH broke from the streak of losses that plagued the market for the week. CLH has made it to the spotlight on KuCoin a number of times in recent months.

ClearDAO is a standard-bearer for cryptocurrency derivatives with its protocol focusing on risk management and efficient trade evaluation on an ongoing basis. With CLH, traders can open positions for the best possible returns and close them before the market conditions go south. ClearDAO sets the stage for assured returns even when the market is bearish as there are always rational pathways for profits.

ClearDAO uses its platform to encourage developers to design and launch their DeFi-derivatives including options and futures. With more open-source initiatives, the overall market will grow faster and deepen, boosting trade volumes and market cap.

Trade CLH and 600+ other altcoins on KuCoin

Conclusion

With the crypto market in a volatile mode, users of KuCoin can make use of risk management tools like Trading bot and KuCoin Lending as a hedge. Earnings on KCS bonus, using the Spotlight, and keeping abreast of market happenings are helpful in navigating the impact of market uncertainties.

With several articles on the KuCoin blog, valuable tips are available that can make a difference in portfolio management now and in the days ahead.