Bitcoin Retreat To $67K Distracts Investors While Holders Of These 3 Tokens Stay Firm
The Bitcoin rally to an all time high (ATH) of $73K kept the whole market up for a while. However, $BTC prices have dropped down since then and currently it is at $67K losing 8% over a week. Though crypto analysts expected this to happen, the broader crypto market saw rampant sell-off. It was not that wild but enough to make the global cryptocurrency market cap dip from $2.77 Trillion to current level of $2.54 Trillion.
Given that the Bitcoin halving is around the corner, about a month away, the eyes are on the event to trigger the next strong cycle of crypto bull market. Long term holders understand the correction in the market is natural and keep holding tokens without getting distracted much about price drops. $STX, $MNW and $DEXE did not witness any price drops and affirms that these crypto are not only prone to such hiccups. Their strong fundamentals give investors confidence to navigate through small price drops and look at the substantial gains in the near future.
Stacks ($STX)
Stacks is a layer-1 blockchain solution designed to bring smart contracts and decentralized applications (dApps) to Bitcoin. It extends Bitcoin's utility without altering its core features, offering a unique way to execute smart contracts secured by Bitcoin’s network.
The native token, $STX, is used for fueling smart contract execution, processing transactions, and participating in the network's consensus mechanism through a process called "stacking," which rewards users with Bitcoin for supporting the network's security and consensus.
$STX price predictions for 2024, highlighting the challenges of accurately predicting cryptocurrency prices due to volatility. Stacks' value on February 8, 2024, at around $1.75 and presents various price predictions for 2024 and 2025 to hit $4 and $6 respectively.
$STX is a token of importance considering past performance but there should be precautions against relying solely on it for future predictions. Additionally, Stacks' connectivity with the Bitcoin blockchain and the potential impact of upgrades on its value should also play in favor of token.
$STX token trades at $3.37 at present. Its trading price jumped 13% in the last 24 hours after experiencing a 20% surge in the weekly time frame. $STX has made it to the top crypto tokens across the market very shortly, giving a sign of the token's potential and investors confidence.
Morpheus.Network ($MNW)
Morpheus.Network ($MNW) is at the forefront of revolutionizing supply chain management through its innovative middleware platform. By focusing on software as a service (SaaS) for supply chains, it significantly boosts transparency and efficiency in shipping processes. It addresses critical issues such as counterfeiting and logistical setbacks, gaining approval from prominent industry leaders and entities. Its notable client roster features Gulftainer in the UAE, Canada's Sobeys, the global entity Coca-Cola, FCL, and Marsh Insurance.
The platform's influence is globally recognized, with its selection by the governments of Brazil, Uganda, and Argentina to enhance agribusiness supply chains. Support from leading tech accelerators like Google Accelerator Canada and Microsoft's Startup Founder Hub, alongside expertise from a UN supply chain specialist, underscores its commitment to delivering exceptional supply chain solutions. Recognition on platforms like SAP attests to its service quality.
An essential component of Morpheus.Network is its masternode program, which significantly contributes to the blockchain's security and scalability. Participants can stake 900 $MNW tokens to support the network's strength, with opportunities to receive up to 18% APY in rewards. This showcases the project's ability to merge cutting-edge technology with enticing financial benefits for its investors.
$MNW token price sustains near $1.23 following an 8% jump today. The token has gained about 3% of its value in the monthly time frame where most of the tokens have seen huge price drops. $MNW showed resilience during the last crypto winter and it continues to do the same in current times of short term corrections.
DeXe ($DEXE)
DeXe is a decentralized finance (DeFi) platform focused on creating an autonomous and decentralized environment for asset management and trading within the cryptocurrency space. It emphasizes the security and transparency of DeFi operations, allowing users to replicate the trading strategies of successful traders.
$DEXE token powers the platform, enabling governance, staking, and participation in decentralized trading strategies. It's designed for traders and investors looking for exposure to the performance of top participants in the DeFi ecosystem.
In the last month, DeXe has experienced an impressive increase of 252.3%, with its yearly growth reaching an even more striking 267.5%. The trading volume of $38 million demonstrates a high level of interest in the cryptocurrency. A key development is DeXe surpassing the 38.20% Fibonacci retracement level, which analysts see as an attractive point for investors to enter the market. Projections suggest a potential tenfold rise in value, positioning DeXe to possibly hit the $100 mark by the end of March. This breakthrough, coupled with forecasts of a 10x increase, sets the stage for $DEXE token price.
The reason behind such bullish price predictions of $DEXE token is because of price performance in the past several weeks. Currently $DEXE is trading at $10.8 after dropping 4% today. However, the token value has tripled in the last 30 days. This gives the investors confidence in $DEXE and is worthy to hold during such uncertain times.