After attempting a brief comeback, both Monero (XMR) and Toncoin (TON) have seen their prices stall. As a result, many are exploring alternative opportunities. Among these opportunities, Watchvestor (WTVR) has garnered attention as crypto adherents seek to position themselves ahead of an anticipated crypto rally.
Monero (XMR) Price Stalls After Monero Drops To Key Support Level
Monero (XMR), recognized for its privacy features, has long held a prominent position in cryptocurrency. However, following the recent crypto market drop, the price of Monero has left holders uncertain.
On a downtrend in the last seven weeks, the recent market decline resulted in steeper losses for the XMR price. The price drop saw the Monero price revisit the $140 support level. However, the price of the token has rebounded off this level.
After bottoming out at the level, the coin’s price has stabilized above this level. If the price of the coin remains above this level, Monero Bulls will look to push the price of XMR higher.
Toncoin (TON) Shows Moderate Volatility
Prior to the market crash, the Toncoin price was trending upwards. The rally saw the TON price increase by more than 35% in the first two weeks of August. However, the market’s bearish trend sparked a sell-off for the Toncoin crypto.
With the Toncoin value now stabilized above the $1.30 support, holders are uncertain about what to expect. This is because the daily trading volume of the token has been on the rise while the volatility of the altcoin has dropped.
The lack of volatility has earned Toncoin a neutral rating. The lack of volatility hints at a possible downside as more look to cash out from the Toncoin gains recorded earlier in the month.
Into Watchvestor (WVTR) Ahead of Rally
Watchvestor (WVTR) is garnering attention as a possible game-changer for cryptocurrency. The project is building the first blockchain that combines the luxury watches ecosystem and the fast-growing crypto space. The project aims to democratize luxury watch ownership by utilizing fractional NFTs.
Highly sought-after watches from top manufacturers like Rolex, Patek Philippe, Richard Mille, and Audemars Piguet will be minted on the platform. These NFTs will be backed by genuine watches and represented by digital assets that can be divided into fractions.
By doing so, Watchvestor will allow thousands to enter the luxury watch space, purchasing fractions for just $10. The traditional entrance restrictions of large funds that have previously only allowed a select few to infuse in luxury watches are eliminated by this strategy.
According to crypto experts, platforms like Watchvestor, which bridge the gap between conventional elegance and cutting-edge technology, are positioned to dominate.
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