3 Crypto That Will Be Worth More Than Cardano in Q4
Release: 2024/08/28 01:54 Reading: 504
Cardano Underperforms: 3 Cryptos Poised for Potential Growth in September
Cardano (ADA) has been underperforming in 2024, posting a year-to-end loss of 38.8%. While ADA shows no signs of bottoming, Sei (SEI), TRON (TRX), and Dogecoin (DOGE) are cryptocurrencies with notable potential for significant reversals.
Cardano's September Slump
Historical data from Cryptorank reveals a negative trend for Cardano in September since 2018. The average return in September stands at -12.5%, indicating a high likelihood of prolonged correction.
1. Sei (SEI)
Sei is a Layer 1 blockchain optimized for high-performance trading applications. Despite market uncertainty, SEI has rallied from $0.2 to $0.319 in three weeks, a 52% increase. Its open interest in the futures market has also surged by 151%.
2. TRON (TRX)
TRON is a decentralized blockchain platform that has gained attention with the launch of SunPump. This has fueled a recovery in TRX's price, reaching a high of $0.17 before easing to $0.16. TRX's market capitalization has grown to $14.1 billion, making it the ninth-largest cryptocurrency.
3. Dogecoin (DOGE)
DOGE, the leading meme coin, has risen from $0.08 to $0.1 in August, a 28.8% jump. This rally has bolstered its market cap to $15 billion. Despite the downward trend, large investors are accumulating DOGE, solidifying its long-term prospects.
Conclusion
Given Cardano's historical September correction, investors are advised to consider emerging cryptos like Sei, TRON, and Dogecoin for potential uptrends. These assets have shown resilience and are positioned for potential growth in the fourth quarter.
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