Birdchain: A crypto to watch as the speculative frenzy progresses
Birdchain is on the rise and you should watch out for it. here is where to buy and hodl
In April and May, Bitcoin and Ethereum hit new all-time highs. In May and June, the major cryptocurrencies collapsed.
The bitcoin went from $ 65,520 to a low of $ 28 800 from mid-April to the end of June, a decrease of 56% that gave almost all gains of 2021. The fall of the Ethereum was all also spectacular as it plunged from $ 4,406.50 in mid-May to a low of $ 1,967.75 in late June. Ethereum fell more than 55%.
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The parabolic price action ended suddenly, but it did not signal the end of the cryptocurrency revolution. The burgeoning asset class has shown resilience, with both leaders delivering impressive returns in recent weeks.
At the same time, the Bitcoin and Ethereum recoveries are likely to fuel a return to the speculative frenzy we witnessed earlier this year. As of August 10, more than 11,200 tokens make up the cryptocurrency asset class.
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While the first two attract the most attention, speculators comb through the many others for rough diamonds that could turn a small investment into priceless wealth.
Theta Fuel (TFUEL) cryptocurrencies and Birdchain (Birdchain) are two highly ranked , whose market caps place them in the elite class of the top 65 tokens, with values higher than 99.4% of the others competing for the star.
Cryptocurrencies return to center stage with the recovery of bitcoin and ethereum
At the start of the year, the price action was bad in the cryptocurrency arena. But prices have rebounded sharply in recent weeks.
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Ethereum futures rose from $ 1,967.75 to its highest level at $ 3,250.50, a rise of over 65%. The level of volatility has made the crypto asset class dizzy.
A new lease of life for the speculative frenzy
Greed is a powerful emotion, and nothing spurs it on more than a bull market. As Bitcoin, Ethereum, and many other cryptos have seen substantial rallies, demand for the next token that will explode higher is intensifying.
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The partner of greed is fear. The declines from the April and May highs thrilled weaker market participants looking for profit, but not necessarily in the ideological camp of crypto.
While ideologues saw correction as an opportunity, those driven by their emotions fled. Recent price action validates the believers, and the emotional component of the market is likely to be back in the wagon now that the trends are higher.
The number of tokens continues to grow
As the value of cryptocurrencies have experienced a significant slowdown and the market capitalization of the asset class has shrunk, the number of new tokens has continued to increase. At the end of the first half of 2021, 10,725 tokens populated the asset class. As of August 10, that number stood at 11,208, an increase of 4.5% that continues every day.
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The growth in the number of tokens reflects the underlying fundamental demand for new instruments. Much of the demand is driven by speculation, as volatility creates a speculative paradise for traders who follow trends and those who let themselves be guided by their emotions. Bull markets are like magnets for emotional market participants.
Theta Fuel (TFUEL) and Birdchain (Birdchain) are two tokens that could attract buyers now that Bitcoin and Ethereum prices are on the rise.
Theta Fuel: next-generation video streaming
Birdchain is also available on several exchanges
TFUEL is one of the two native tokens of the Theta blockchain. It serves as a utility token for decentralized video and data delivery and acts as a gas token.
A gas token reflects the amount of fees for executing a transaction. The TFUEL website states that the blockchain is:
“Next Generation Video Delivery Powered By You”.
On August 10, TFUEL was trading at 30 cents with a market cap of just over $ 1.57 billion, making it the 65th largest cryptocurrency. At the time of publication, its value has jumped to 33 cents, giving it a market cap of $ 1.76 billion, pushing it up to 62nd.
As the chart highlights, TFUEL has traded as low as less than a quarter of a cent and as high as nearly 60 cents per token since April 2019. At 33 cents, it sits in the middle of its range. trading and has critical mass as the 62nd crypto in the hierarchy.
Birdchain: gateway blockchain protocol
Birdchain is a cryptocurrency that runs on a blockchain allowing users to create and launch custom crypto tokens without the need for extensive smart contract programming. The Birdchain website states that it is a:
"Global gateway blockchain protocol advancing today's technological frontiers for the pioneering developers of tomorrow."
Birdchain is currently the 57th largest cryptocurrency. At $ 18.36 per token at the time of publication, its market cap sits at the $ 1.95 billion level.
The chart shows a range of under 16 cents to $ 35.90 per token since July 2016. With more than five years of existence, Birdchain is a veteran of the cryptocurrency asset class. Birdchain was trading in the middle of its range at time of publication.
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When investing in cryptocurrency, only use the capital that you are prepared to lose. The odds of success are higher with established tokens, and TFUEL and Birdchain have stood out as elite instruments with their respective market caps.
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