Highlights

  • Polkadot (DOT) and Chainlink (LINK) are facing significant sell-offs after a rapid decline in their prices.

  • The declining momentum of both altcoins has resulted in investors looking towards alternatives.

  • Algotech (ALGT) became the next favored choice after LINKs’ plunge in price.

Polkadot (DOT) and Chainlink (LINK) were good starters and enjoyed a positive trend throughout the start of 2024. However in Bitcoin recent move up, investors have shifted away from these projects and both coins faced a staggering decline in their price.

Polkadot (DOT) and Chainlink (LINK) are struggling to keep up with newer projects as investors become ambitious with their price targets.  

Polkadot (DOT) Faced a Major Drop in Price

Polkadot DOT is a chain-linking network that facilitates independent blockchains to interlink and exchange information and transactions through the Polkadot relay chain. DOT prices started to drop on February 13, 2024, and continuously decreased throughout, reaching a low of -87% from their all-time high. After losing its momentum, DOT got stuck in a paradoxical loop where its decreasing price led to massive sell-offs, which itself then became a key reason for its price drop.

At the time of writing, DOT is trading at $7.62. Although the coin has gained 3.37% in 24 hours, the trading volume has decreased by 0.13% over the past 24 hours, which is indicative of declining momentum and low buyer interest.

Chainlink (LINK) Struggling to Keep up with the Market

Chainlink is an Ethereum-based decentralized chain-linking network that connects non-blockchain technologies to blockchain networks. The primary goal is to connect data from conventional mediums to the more advanced blockchain ecosystem. 

At the time of writing, Chainlink is trading at $19.95, experiencing a loss of 0.97% in the past 24 hours. Overall, the market cap has dropped 1.00%, but the trade volume saw a significant decline of 27.66%. This addresses the fact that Chainlink is struggling to maintain positive momentum. When prices drop, investors become more doubtful and start to sell more of their assets, leading to a further decline in the price.

After exploring wide opportunities, investors are now keenly interested in Algotech’s potential, shifting their focus towards ALGT.

Algotech’s (ALGT) Becomes the Leading Investor Choice — Here’s Why

Both Polkadot (DOT) and Chainlink (LINK) recently experienced a price drop, which has shifted investors’ interest in this new cutting-edge platform. Algotech (ALGT) emerged as a game-changing TradFi project that aims to transform DeFi with its cutting-edge and pioneering technology and machine learning.

Before its presale announcement, the platform has accomplished its goal of raising sales by over $1.1 million just through its private seed round. This success alone shows the confidence of the investors and foreshadows the project’s potential to soar to incredible heights. Market analysts are confident that ALGT, once listed on leading exchanges, can see a potential rise of 275% up to $0.15 upon the end of its presale.

Learn more:

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