The cryptocurrency market is currently facing a shocking decline. In the past week, the global crypto market cap has dropped by over $200 billion, with altcoins losing more than $20 billion in 24 hours. Analysts link the current situation to US President Donald Trump’s trade tariffs announcement on January 31.
Although many expected the downtrend to last only over the weekend, Coingecko data shows none of the top 100 altcoins have recovered losses from the weekend. Prime examples are BNB and XRP, declining by 3.2% and 7.04% in the last 24 hours. Market activity is slow as their 24-hour trading volume is the lowest recorded in the last 7 days.
While BNB and XRP are struggling, a new presale token, 1Fuel (OFT), is breaking records. At the moment, it is about to cross over the $2m presale mark. Seeing its performance so far, analysts are predicting a 50x growth at launch, giving Binance Coin and XRP a run for their money.
Binance’s BNB Now Below $600: Is More Decline On the Way?
A month ago, BNB’s price was consolidating above the $675 support zone. Declining by over 23% within that period, the currency is now worth $570.48. With the current market conditions, many expect the price to get worse before getting better.
The price analysis from the last 7 days shows that BNB has showcased a bearish alignment. However, it has managed to sustain dominance over the 100-day EMA line. A new resistance could potentially cost $550, which could last for months.
Rather than watching BNB battle it out in the bear phase, you can purchase 1Fuel and enjoy price growth and crypto utility.
XRP Struggles to Breach Resistance Levels
For months now, XRP has been witnessing retention around $3.0. Furthermore, since the start of February, it has failed to trade above $2.7 while dropping below $2 before a quick recovery. An overview of the token makes it evident that sellers are dominating XRP.
XRP analysts notify holders that the coin might not hold above $2.5 for long, with further declines expected. If this level breaks, key support zones are $2.00 and $1.61. A rebound above $2.70 could restore bullish momentum.
No one can tell where XRP is headed at the moment. However, crypto commentators believe you should purchase 1Fuel, as it is headed up.
1Fuel – A Revolutionary Cryptocurrency Headed Towards $2 Million
While the entire market is deep into the red zone, 1Fuel is breaking new price records. The cryptocurrency has gained over $1.8 million from selling over 178 million tokens. This is remarkable because it’s only the third phase of the presale. According to crypto commentators, 1Fuel has achieved this feat in record time.
Investors are buying into the project heavily due to its unique selling proposition: simplicity, multi-chain transactions, military-grade security, and user-friendly interface. It’s almost impossible to find another cryptocurrency to have 1Fuel’s offering. Therefore, 1Fuel could potentially go on to become the best token in the industry.
At the moment, 1Fuel is being sold at a discounted price of $0.017 per token. This makes it the best price to buy for huge rewards. What are you waiting for? Buy 1Fuel (OFT) now!
If you would like to find out more information about the presale:
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