The first full week of September yielded yet another major disappointment for cryptocurrency bulls, as the market took a major downturn on Wednesday and has since failed to recover its losses.
However, despite the significant downward pressure, select major altcoins actually finished positive to only slightly negative on the week, driven by independent fundamentals. Here’s a list of five from the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
Description: Blockchain platform that can be used to build decentralized applications (DApps) on scalable sidechains
AltDex 100 Ranking: 40
Description: Cryptocurrency based on a popular meme that boasts low-fee transactions and a scalable network.
AltDex 100 Ranking: 19
Description: Cryptocurrency debit card and payments platform, formerly known as Monaco.
AltDex 100 Ranking: 72
ReddCoin (RDD) | $0.0034 | $97 Million Market Cap | -0.8%
Description: Cryptocurrency that is built primarily for social media platforms.
AltDex 100 Ranking: 60
Description: The largest privacy-focused cryptocurrency.
AltDex 100 Ranking: 9
The crypto sell-off is likely not over as the macro environment and technicals indicate more pain ahead. Investors should trade with caution, especially any altcoin that has not yet felt the full pain of the recent bearish downturn.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.