Negative sentiment, sluggish behavior and bearish waves had taken over the cryptocurrency market in the past few months. t. Events like the German sell-off and the Mount Gox news have only compounded the overall bearish trend, which has been a theme ever since the Bitcoin halving. However, Bitcoin’s advent above $60k has emerged like a ray of hope. While this situation is far from ideal, it presents an opportunity to accumulate favorite projects at discounted prices.
In times of market downturns, it’s crucial to focus on projects with solid fundamentals that are merely suffering from the broader market sentiment. Analyst Altcoin Buzz took to his latest analysis and gave a list of three coins that are currently trading at significant discounts.
Coin 1: FET
First on his list is FET (Artificial Superintelligence Token). This token has recently gained attention due to a merger involving three AI technology leaders: SingularityNET, Fetch.ai, and Ocean Protocol. The potential of this ecosystem is enormous, with projections estimating its value at $7.5 billion. FET’s price has seen a significant drop from it’s all-time high of March, currently trading at a 62% discount.
Coin 2: SUI
Next on his list was SUI Network (SUI), a Layer 1 blockchain known for its speed and scalability. SUI’s recent MTI Setti upgrade positions it as the fastest blockchain, a critical advantage for DeFi and gaming applications. SUI is currently trading at a substantial discount, around $0.80, down from its all-time high of $2.18 in March.
Coin 3: OP
Optimism (OP), an Ethereum Layer 2 solution that enhances Ethereum’s scalability through optimistic rollups. The project enjoys strong ecosystem support, including NFT marketplaces, DAOs, and DeFi protocols, along with a substantial developer community. Currently, OP is trading slightly above $1.