Amidst rising fear and doubt in the crypto market, two low-cap altcoins are showing signs of potential growth, according to analytics firm Santiment.
Balancer and Chromia Primed for Gains
Balancer (BAL) and Chromia (CHR) are two altcoins that have attracted attention due to their low funding rates. This suggests that traders who are shorting these coins may face liquidation, leading to price increases.
Market Sentiment: Fear and Uncertainty
Recent events, such as the hack of Bittensor and Bitcoin’s drop below $60,000, have fueled discussions of fear, uncertainty, and doubt (FUD) in the crypto market.
Altcoin Trader Wallets: Underwater
Santiment also notes that altcoin trader wallets are currently “well underwater,” indicating that they are holding coins at a loss. However, the firm highlights that certain altcoins, including CHR, Highstreet (HIGH), and Basic Attention Token (BAT), are in “historically good buy zones.”
Disclaimer
Please note that this information is not investment advice. Investors should conduct their own research before making any investment decisions.
