Crypto Prices Crash but These 3 Coins Could 10x
The global cryptocurrency market is in a bloodbath, with the total crypto market cap down over 12% from yesterday and the market cap of DeFi coins down more than 13%. Bitcoin fell more than 16%, breaking the yearly low in June and setting a new low of $17,114. Similarly, FTT fell by more than 85% before recovering to trade above $2.70.
The dramatic price action was caused by FTX’s recent admission that the exchange was experiencing a liquidity shortage; the insolvency was so severe that Sam Bankman-Fried, the CEO, approved selling FTX to competitor cryptocurrency exchange Binance for an unknown amount.
Why are Crypto Prices Down Today?
Binance’s sudden and unexpected planned takeover of longtime rival crypto exchange FTX will increase scrutiny of the asset class. CEO of Binance, Changpeng ‘CZ’ Zhao, tweeted on Tuesday that Binance has signed a “non-binding” letter of intent to buy FTX fully and that “FTX sought our help” due to a liquidity constraint.
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
— CZ 🔶 Binance (@cz_binance) November 8, 2022
The deal does not involve FTX’s operations in the United States, and it is not clear if the market maker’s venture capital section would also be acquired. Binance’s spokeswoman did not immediately respond to a request for comment. A representative for FTX declined to comment, referring to CEO Sam Bankman-tweets.
Fried’s Matt Lason, a chief investment officer of digital-assets-oriented Globe 3 Capital, expressed worry that FTX needed to be backed up, given that they were “the initial backstops” this summer for Celsius and Voyager Digital, both of which filed for bankruptcy.
Zhao remarked in a subsequent tweet, ‘There is a lot to cover and will take some time.’
🧵3/4
— alimroshan11.Eth (@AlimRoshan) November 8, 2022
"There is a lot to cover and it will take some time," said Binance Founder Changpeng Zhao on Twitter. "This is a highly dynamic situation, and we are assessing the situation in real-time". Binance has the discretion to pull out of the deal at any time."
Instead of providing a statement, the FTX representative referred all questions to CEO Sam Bankman-Twitter. Fried’s Globe 3 Capital’s chief investment officer, Matt Lason, who specializes in digital assets, voiced alarm over FTX’s need to be bailed out because the company was “the original backstops” for crypto lenders Celsius and Voyager Digital, which filed for bankruptcy this summer.
Crypto Prices Crash but These 3 Coins Could 10x
This scenario has triggered risk-off sentiment and is expected to keep the cryptocurrency market bearish. However, new coins in presale have high potential. Let’s look at the top three coins in presale with high upside potential.
Dash 2 Trade (D2T)
The D2T presale’s second stage has already sold out, raising $5.16 million in just over two weeks. Dash 2 Trade is a concept developed by Learn 2 Trade, a hugely popular trading signal company that will be launched in the first quarter of 2023. The platform aims to provide investors with market-driven insights to help them make informed decisions.
D2T offers trading signals, social analytics, and even market sentiment analysis to enhance the trading experience. According to the development team, Dash 2 Trade aspires to be the Bloomberg trading terminal for cryptocurrencies. The platform also includes automation and backtesting capabilities for automating trading processes and optimizing all trading methods.
Dash 2 Trade includes a notification service that notifies investors of all new coin listings on centralized exchanges, giving them access to information previously only available to elite investors. With so much potential, it’s no surprise that D2T presale numbers have been phenomenal.
The digital currency has already raised more than $5,749,969 ($5.7 million).
Calvaria (RIA)
Calvaria is a brand-new cryptocurrency gaming project that has the potential to become a market leader in the play-to-earn genre. Calvaria developers observed two significant impediments to widespread Web3 gaming adoption. While investors see the potential of Web3 games, users do not.
Calvaria’s presale, which is already in stage 4 of 10 and close to the $1.6 million threshold, continues to accelerate. Investors are flocking to the fast-increasing GameFi project as the price of the native RIA token rises considerably at each presale stage.
Tokens cost $0.025 each in stage 4, but by stage 5, the price has climbed to $0.03, and tokens cost $0.055 in stage 10.
IMPT
By putting carbon credits on the chain, IMPT’s team is making the world of carbon credits much more efficient than ever before. The carbon credit system was formerly extremely opaque; it was solely relevant to businesses, and trading with them was inefficient and outdated. Carbon credits can be sold on the blockchain as NFTs 24 hours a day, seven days a week.
According to Broadridge Financial Solutions, the carbon credit market would likely exceed $50 billion by 2030, while the ESG industry will likely exceed $30 trillion. Over 25,000 businesses have already signed up for the IMPT shopping platform, including industry heavyweights like Microsoft, River Island, Amazon, and Samsung.
With this, the IMPT presale has now raised $12 million and is quickly selling out. The IMPT token’s price has risen with each stage of the presale to $0.023.
