It seems that the liquidity crisis in FTX will continue to be discussed for a long time. Recent events have severely damaged the crypto market. Most of the crypto analysts are in favor of following these decreases in prices well. According to analysts, these 7 altcoins, especially Binance’s altcoin BNB, are worth following.
FTX crisis caused serious depreciation of most altcoins including BNB
Things are tough, but according to analysts, a crash always presents a chance to invest for smart investors. In the wake of the FTX crisis, investors and analysts are researching which altcoins are suitable for investment. At the end of October, cryptocurrencies had the potential to rise stronger again.
Bitcoin price temporarily climbed above the $21,000 level. As a result, however, the price increase could not continue. Then, crypto exchange FTX filed for bankruptcy following liquidity problems. FTX’s native token, FTT, has declined drastically. Bitcoin price fell below $ 16 thousand in a short time. Even BNB, the altcoin of leading crypto exchange Binance, was hit hard by the drops. Other altcoins, on the other hand, lost more than 30 percent, mostly.
Which altcoins hold potential?
Such a crash usually affects altcoins more than Bitcoin. Altcoins generally rise more than BTC when prices rise, while losses are greater in the event of a crash. But overall, most altcoins have lost less percentage than Bitcoin over the past few weeks as they’ve seen strong gains before.
As Kriptokoin.com, we include altcoin shares that crypto analysts can gain in the future. After the FTX collapse, Binance’s altcoin BNB was among those that suffered. However, exchanges and altcoins linked to FTX have seen further declines. In addition, most analysts state that these are periods that can be evaluated in terms of accumulation. We transfer altcoins, including BNB, to you.
In the first place is the decentralized exchange Uniswap (UNI)
If there are certain platforms that would benefit from the loss of trust in crypto exchanges, these include decentralized exchanges (DEX). Uniswap, the largest DEX, has recently overtaken Coinbase. Uniswap made headlines as the #2 DEX trading Ethereum in just one day. In the last few days, Uniswap has released 2 new Smart Contracts aimed at making the platform more cost-effective and secure.
— Uniswap Labs 🦄 (@Uniswap) November 18, 2022
According to crypto analysts, all these developments are likely to affect the UNI price.
Digital silver Litecoin (LTC)
When it comes to related altcoins, LTC introduced after Bitcoin does not come to mind. However, Bitcoin maximalist Michael Saylor has been praising LTC for a while now. He said on Twitter that Litecoin, like Bitcoin, could receive “digital commodity” status from regulators.
Been fun to watch people get so excited over $LTC the last few days – to each their own
— Cheds (Book 3 is coming soon) (@BigCheds) November 20, 2022
As a result, Saylor stated that he gave Litecoin a similar status to Bitcoin. Saylor holds that both can be used similarly as decentralized commodities.
ADA, the altcoin of the Cardano ecosystem
Cardano CEO Charles Hoskinson is currently planning a new blockchain called Midnight that will focus on complete privacy. Hoskinson is expected to make Midnight a blockchain similar to Monero, which is often criticized but also appreciated by many. It is also reported that Hoskinson wishes to grant access to potential regulators in exceptional circumstances. Although this move has been partially discussed, ADA may experience bullishness in the next few weeks.
BNB (BNB), the altcoin of leading crypto exchange Binance
Binance Coin (BNB) has received a lot of attention in the last 2 weeks. In the short term, BNB price had bullish potential as FTX Token (FTT) dropped. Binance CEO Changpeng Zhao recently announced that BNB is not a security. According to analysts Binance and BNB, FTX bankruptcy is likely to benefit in the medium term.
"#BNB is not a security" – CZ Binance pic.twitter.com/kcIFdWNlz9
— Altcoin Daily (@AltcoinDailyio) November 17, 2022
Ripple (XRP)
Ripple’s native altcoin XRP token failed to take advantage of the bull market during the ongoing litigation with the SEC. But if the litigation goes in Ripple’s favor, strong price increases for XRP certainly seem possible. XRP is likely to be one of the least followed altcoins at the moment. As a result, analysts expect a rise in XRP depending on the outcome of the lawsuit.
Solana (SOL) hit hard by the FTX crisis
One of the altcoins that suffered greatly from the FTX crisis was SOL. SOL suffered a severe setback as a result of the FTX crisis as the crypto winter continued. The upper and lower Keltner Channel bands are both bearish. The upper band touches 48.79 and the lower band 16.58. According to analysts, the bear market will continue to dominate the SOL. Price volatility below the lower band indicates that this bear market will continue in the near future.
If the RSI continues to decline below 29.32, further declines are likely. However, as it approaches the oversold territory, a bullish reversal is also predicted.
Potential in ETH along with BNB
Ethereum (ETH) price suffered a decline after the FTX crisis. ETH faced resistance at $1,183. Afterwards, it declined by 3.21 percent to $1,135. Analysts state that the Bollinger bands are narrowing on the 7-day price chart. As a result of this, ETH price is said to indicate lower market volatility. The upper band touches 1888.57 and the lower upper band touches 1031.42. This view is supported as prices fluctuate towards the lower band.
RSI is moving bearish with a reading of 3.84. According to analysts, it shows that the bear zone could continue if the bulls do not press to override the current situation. However, currently trending in the oversold region indicates a possible reversal.
