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Crypto-crash: here's the exceptions
By Gabriele Brambilla
Cryptocurrencies collapse but, as panic spreads, some manage to limit the damage...
The (few) cryptos that are saved from collapse
Rough awakening for cryptocurrency investors: the entire sector is in deep red and many coins and tokens are touching price levels not seen in a long time. The crypto-collapse has brought BTC back below 90k, while SOL registers -15.6% in the last 24 hours, for a -47% over the 30 days.
Amid this momentary “carnage,” however, there are some coins that manage to save themselves, or at least contain the damage; let’s see which ones they are.
OM (MANTRA) contains the losses
We recently talked about the good period of OM, coin native to the blockchain MANTRA, specializing in RWA.
Precisely because of the strong rises experienced by this crypto, today’s collapse did not bring big losses to investors. Let’s be clear, OM is not immune and at the time of writing is losing over 7 percent of its value in the last 24 hours. However, the trend remains very positive and the 30-day performance is still impressive (+66.5%).
We cannot know if OM’s resistance will continue (partly because it is in price discovery anyway), but for now we can mention it among the coins that are defending well on a complex day.
TradingView OM/USDT chart , Binance data
S (FTM) with nails despite -15%
S, Sonic’s native coin , leaves several percentage points on the street in the last 24 hours (about -15%). However, it manages to live off its recent gains.
Indeed, the heir to FTM remains well positioned over the past 7 days (about 25% gain) and over the monthly (+34%). If today’s losses remain as such, with no further surprises in the coming days, investors in S could consider themselves very happy.
TradingView S/USDT chart , Binance data
MKR (Maker) in good shape
In the apocalypse of double-digit losses, MKR stands on the sidelines for now with a “small” -6% or so.
The performance over the last 7 days is convincing, for an overall performance that remains in very positive territory (+28.5%). The 30-day performance is also in green territory, but “only” at +14%.
The same observations made for S apply: if MKR manages to pull through as it is doing, those holding the coin could smile and look ahead.
Watch out, however, for a not insignificant detail: while OM is at all-time highs and S is newly born, MKR is coming from a period of decline. The investor should therefore carefully analyze the coin’s fundamentals before making any operational decisions.
TradingView MKR/USDT chart , Binance data
Story and DeXe
The only two cryptocurrencies in the top 100 in the positive over the past 24 hours are Story and DeXe.
Story is a layer 1 blockchain specializing in intellectual property on the Internet. The coin IP was launched a few days ago and is experiencing the euphoria typical of startups. Already listed on Coinbase, Bybit and other exchange biggies, IP is up 25 percent in the last 24 hours.
In contrast, the DeXe protocol is geared toward creating meritocratic governance mechanisms. The DEXE token, published on the Ethereum chain and BSC, serves as the governance currency for the protocol’s DAO. DEXE has a positive daily performance: +1.8 percent. It may not sound like much, but at a time like this it is very rare to see a cryptocurrency go up.
Closing advice: be careful moving at this sensitive time. Avoid getting caught up in emotions is the first rule to avoid losing money or making unreasoned decisions. Let’s stay on the established plan.
