These 5 Altcoins Cannot Survive In Bear Market, According to Cheeky Crypto
The market is bloody these days. It’s time to look at the projects, their utilities, use cases, the teams, the technology, and various other metrics that we should be really focused on.
Cheeky Crypto, a Youtube Channel focused on cryptocurrency, has given you a hand by highlighting 5 projects, let’s check out whether these projects can survive in this bear market.
The first one mentioned on the list is ADAX (ADAX). ADAX is an automated liquidity protocol built on Cardano that operates with the native ADAX token. Developers opted for Cardano as the platform, as it outperforms Ethereum due to faster transactions and higher throughput.
ADAX’s total locked value is just a measly $6,648, but Chris thinks that ADAX is “going to do really well.” ADAX is trading at $0.1, which is down almost 1% and ranked number 3600. Its market cap is also low, only over $5.5 million. But that’s fantastic. There’s lots of upside potential. The competition is just far too strong for this project.
ADAX Chart | Source: Coinmarketcap
The second altcoin on the list is Reef (REEF). Reef is a Reliable Extensible Efficient Fast Layer-1 Blockchain for DeFi, NFT & Gaming. Built using Substrate Framework, it provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase.
This is a project that cannot survive in the bear market. It’s basically at its all-time low and ultimately, this has a further downside to come. It is currently ranked number 299 by market cap, priced at 0.0066, down 1.72%. Chris will not be investing since this project is not moving.
REFF Chart | Source: Coinmarketcap
The next altcoin Chris mentioned on the list is TRON (TRX). TRON (TRX) is a decentralized blockchain-based operating system developed by the Tron Foundation and launched in 2017. Originally TRX tokens were ERC-20-based tokens deployed on Ethereum, but a year later they were moved to their own network.
This project is going to perform as well as some of the other projects in the space. It is ranking number 18 by market cap, changing hands at $0.08, up 2.19% even in the dip. This project can definitely survive in the bear market.
TRX Chart | Source: Coinmarketcap
Let’s have a look at an old project, Litecoin (LTC). Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure, and low-cost payments by leveraging the unique properties of blockchain technology.
Chris doesn’t think this project is going to do well. “It’s gonna fail completely.” It’s old technology, it’s clunky and the host of Cheeky Crypto doesn’t think it’s going to do well. LTC is trading at $96.39, up almost 1% and ranking number 22 by market cap.
LTC Chart | Source: Coinmarketcap
Bitcoin Cash (BCH)
The last one Chris mentioned on the list is Bitcoin Cash (BCH). Bitcoin Cash is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy, and high transaction capacity (big blocks). In the same way that physical money, such as a dollar bill, is handed directly to the person being paid, Bitcoin Cash payments are sent directly from one person to another.
This is also an old project, changing hands at $275.7, which is up nearly 1%, ranking number 23 by market cap and this is “another project that just isn’t for me,” Chris commented.
BCH Chart | Source: Coinmarketcap
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