Opportunities for Entry Comparing Resilient Altcoins Amidst Bearish Market Trends

CoinWorld reported:
Last week, the cryptocurrency market experienced a downturn, with Bitcoin falling below the $60,000 mark. Ethereum also reflected this trend, dropping below $3,000. This affected many top cryptocurrencies and exacerbated losses for altcoins. However, some altcoins still present good opportunities.
These altcoins show growth potential, and this article analyzes the current situation of good cryptocurrencies.
Good cryptocurrencies at present
1. CHZ
Chiliz allows fans to participate in the management of their favorite sports teams. Fans can purchase various fan tokens to strengthen their connection with the clubs and create new revenue streams for sports organizations.
The platform has partnered with major sports teams and also collaborated with UFC and gaming organizations. By purchasing CHZ, fans can acquire fan tokens, thereby owning a stake in the club.
Recently, Chiliz announced a partnership with the Australian platform PUML Better Health, which focuses on gamifying health and wellness activities. This collaboration introduces a “earn while you exercise” model, encouraging sports enthusiasts to engage in physical activities while participating in the Chiliz digital ecosystem.
This partnership combines sports activities with blockchain rewards, redefining fan engagement in the sports industry. Fans can connect their wearable devices to the PUML Better Health app and earn PUML coins by completing daily fitness challenges. These challenges include step goals and team activities, with the opportunity for additional rewards if the balance in the PUML wallet remains at 100 CHZ.
Furthermore, this partnership coincides with the recent surge in CHZ token prices, with the token’s 14-day relative strength index (RSI) at 44.01, indicating a potential market stability. Additionally, based on its market cap, the CHZ token has high liquidity.
2. ICP
The Internet Computer blockchain leverages advanced encryption technology to introduce the concept of a “world computer” blockchain. This enables the creation of various online systems and services without reliance on traditional IT infrastructure like cloud computing. This innovation aims to achieve comprehensive end-to-end decentralization.
The token demonstrates high liquidity relative to its market cap.
With a 14-day relative strength index (RSI) of 37.51, the token is in a neutral state and may continue to consolidate. Despite a high volatility of up to 15%, ICP’s significant annual growth and strong market position make it one of the better cryptocurrencies currently.
Meanwhile, ICP recently partnered with the United Nations Development Programme (UNDP) and the DFINITY Foundation to enhance financing channels for global micro, small, and medium-sized enterprises (MSMEs) through the Universal Trust Certification (UTC) program. The focus of this collaboration is to improve domestic financing channels for MSMEs by promoting cross-border data trust and unlocking trade financing between participating countries.
3. PYTH
Pyth Network aims to connect traditional financial markets and blockchain technology by providing real-time, high-quality market data. This data is crucial for decentralized applications (dApps) across multiple blockchains, enhancing the reliability and functionality of smart contracts in various financial sectors.
Recently, Pyth Network established a strategic partnership with AMINA Bank to improve data accuracy for the decentralized finance (DeFi) community.
AMINA Bank will provide real-time digital asset prices to Pyth Network, enhancing the accuracy and efficiency of financial services in the DeFi sector. By integrating its resources with Pyth Network, AMINA Bank aims to strengthen the network’s data products.
This partnership marks a significant step in the convergence of traditional banking operations with emerging Web3 applications. It is expected to provide users from different industries with more convenient and reliable access to financial services, thus enhancing user experience and financial participation.
Furthermore, the token’s 14-day relative strength index (RSI) is 51.94, indicating a neutral position and potential consolidation.
The token’s 30-day volatility is relatively low at 14%, well below the 30% threshold, suggesting price stability.