Crypto Market Retreats, but Smart Money Sees Opportunity
The cryptocurrency market experienced a downturn on Thursday and Friday. most altcoins saw losses as the market capitalization of all cryptos, except Bitcoin, Ethereum, and stablecoins, slid to $580 billion, the lowest sence June 5. Though, some savvy investors are turning this crisis into an opportunity.
Smart money, which includes experienced crypto investors, is buying into specific altcoins during this dip. Here are a few standout picks:
- Aerodrome Finance (AERO): This decentralized exchange on Base is getting attention due to its increasing market share. In the past 30 days, its DEX volume reached $15.4 billion, beating competitors like Uniswap and PancakeSwap. Coinbase’s plan to integrate DEX networks on Base adds to its appeal.
- freysa AI (FAI): Despite a 10% price drop, smart investors bought $232,000 worth of FAI.Freysa AI is a blockchain network on Base, aimed at creating personal companions for users, known as Digital Twins.
- AAVE: Smart money is purchasing Aave tokens, with buys worth $118,700 recorded. Aave’s fundamentals are strong, with a rising total value locked and its stablecoin, GHO, gaining traction.
- Virtuals Protocol (VIRTUAL): This AI-focused protocol is attracting investors because of Meta Platform’s $13 billion investment in Scale AI,indicating growth in the AI sector.
These altcoins show potential for growth, despite the current market turbulence. They are attracting smart money, potentially signaling a future rebound.
