Last updated on March 25th, 2022 at 01:34 pm
The early days of 2022 have been extensively bearish for the wider crypto market with the market leaders like Bitcoin and Ether showing a downfall of almost 30%. However, a few layer-1 altcoins show a bullish journey or a sudden bullish reversal after a downfall to turn the last few days extremely green.
Many layer-1 blockchains like Oasis Network (ROSE), Fantom (FTM), Near Protocol (NEAR), and Cosmos (ATOM) showcase a price jump of more than 30% in the past few days.
ROSE, the native coin of the Oasis Network shows a price jump of more than 40% in the past three days. The network is a privacy-focused layer-1 blockchain, created by Dawn Song. The network remains one of the few blockchain-based start-ups that is led by a woman. Like many ecosystems supporting blockchains, users can build decentralized applications (dApps) on top of the Oasis blockchain.
The recent price jump in the ROSE token price can be traced back to the $200 million contributions from Binance Labs. The coin also holds a place in the Winklevoss Capital Portfolio making it a possible coin that goes “TO THE MOON.”
Talking about the next booming crypto as the market weeps blood, FTM, the native currency of Fantom, has jumped more than 30% in the past couple of days. At press time, the coin price stands at the gates of $3 with an imminent breakout possibility. That is why a possible bull run to create a new all-time high above $3.15 is possible.
Fantom is gaining popularity as a viable layer-1 alternative to Ethereum, a Proof-of-Stake consensus mechanism blockchain. Plus the increasing price of Bitcoin brings buyers for altcoins. Therefore, altcoin prices are gaining momentum and recovering from their fairly gloomy start to the new year.
The token price of Near Protocol has more than doubled in the past three weeks. The protocol is a community-driven cloud computing network that delivers high transaction speed and eases interoperability. It is a very developer and dApp-friendly network as per the general consensus.
Coming back to the growing NEAR coin prices, it creates a new all-time high at $18.73 and the underlying bullishness continues to grow. Therefore, the rally is not expected to reverse any time soon. Moreover, the breakout of $20 is coming close to becoming a reality as the buyers’ line-up.
Last but not least layer-1 blockchain showcasing amazing gains in such gloomy days is Cosmos, with the native currency ATOM. The ATOM coin price grew more than 50% in the past two weeks and continues to create a bullish candle in the daily chart, at press time.
After analyzing the growth of growing layer-1 altcoins, with the dream to replace or stand next to Ethereum, let us now get back to the market leader, Bitcoin. The crypto giant shows a fall of almost 2% resulting in the rejection from the $44K mark.
The upcoming option expiry of $750Mn BTC seems to be on the bearish boat as bulls need the BTC price to reach approx. $46K for a bullish result. Therefore, a downfall in BTC prices is possible in the upcoming days.
Therefore, the bullish sentiments are showing a gradual rise; however, the bears are ready to overturn this growth as the expiry comes closer. That is why traders need to keep an eye on layer-1 altcoins for bullish trades and can expect a fall in the market leaders in the next few days.
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