Current Situation in the Bitcoin and Altcoin Market
Bitcoin is currently facing a significant downward trend. As of the moment this article was written, Bitcoin is trading slightly above the $55,000 level. Alongside this decline, altcoins are also in the red zone, with many altcoin pairs experiencing double-digit losses. However, analysts in the sector indicate that this drop is actually the right time to buy at the bottom.
In particular, analyst Altcoin Buzz focuses on promising altcoins in the decentralized physical infrastructure network (DePIN) sector. Cryptocurrencies like RNDR coin, with a market cap of $17.8 billion, hold a noteworthy position in the DePIN field. DePIN is playing an increasingly important role in the world of cryptocurrencies.
Altcoins on the Analyst’s List:
- RNDR coin
- OriginTrail (TRAC)
- Dimo
During this period when Bitcoin is trading just above the $55,000 level, altcoins are also going through a tough process. However, analysts emphasize that this situation presents a suitable opportunity for buying at the bottom. The Altcoin Buzz analyst talks about promising altcoins in the DePIN sector, highlighting RNDR coin, OriginTrail, and Dimo.
Render Network (RNDR coin) is a completely decentralized network that provides the GPU processing power needed for artificial intelligence programs to create images. Despite a 40% drop in the token’s value over the last three months, it has performed better than many altcoins with only an 8% loss in the last 30 days under current market conditions. For long-term investors, RNDR coin has recorded an increase of about 300% over the past year.
Besides RNDR coin, OriginTrail (TRAC) also stands out as an important altcoin. TRAC focuses on decentralized artificial intelligence and “decentralized reality,” which is a critical concept for validating data in supply chains and manufacturing processes. Although it has experienced a 30-35% decline over the last three months, it has provided a return of 150% over the past year. With a solid token economy, OriginTrail stands out with 80% of its total supply of 500 million tokens in circulation. According to the analyst, this altcoin presents a solid mid-sized investment opportunity, especially in the DePIN sector.
Dimo: Another Important Altcoin in the DePIN Sector
In addition to RNDR coin and TRAC, Dimo is also on the analyst’s list. Dimo is an application focused on enhancing security and data control for vehicle owners through DePIN features. The platform is compatible with vehicles produced after 2008 and offers real-time health checks that help users avoid expensive repairs. With a market cap of $35 million, 233 million tokens are in circulation out of a maximum supply of 1 billion. Despite broader market downturns, Dimo has increased by 45% over the past year, making it an attractive option for investors.
Considering the growth potential of the DePIN sector, these three altcoins can offer quite attractive opportunities for long-term investors. However, it is important to remember that the nature of cryptocurrency markets is volatile and to make investment decisions carefully.
