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Volatility is a common trend in the cryptocurrency market and can be a bitter-sweet pill. Two top altcoins that have been on the bitter end of this pill are Ethereum (ETH) and Cardano (ADA). After a brief rally, both cryptocurrencies are facing serious price declines.
One altcoin that has broken out of this trend is Pushd (PUSHD). Launching the first decentralized blockchain eCommerce marketplace, this presale project has gained a lot of traction. But can it be the next crypto gen with 100x potential? Let’s find out.
Ethereum (ETH) Faces Rejection At $2,500 Resistance
Although Ethereum (ETH) has benefited from the bull market in 2023, it has failed to surmount the critical resistance at $2,500. However, in recent weeks, investor confidence in the leading altcoin has been on the rise.
In the recent price surge, the price of Ethereum climbed as high as $2,450 but couldn’t close above this resistance. As a result of the rejection, the Ethereum price has dropped back to the $2,340 level. Data from CoinGlass hints at the reason for this decline.
Early in December, the Open Interest of ETH peaked at above $8.5 billion. However, it has dropped by more than 8%, showing that investors are closing their positions and cashing out of the recent Ethereum rally.
Cardano (ADA) Retraces After Massive Surge
The first quarters of the year were slow for Cardano (ADA), but now it’s really going fast in fourth. Since October, the price of ADA has gone up a lot more than 150%. This is making Cardano coins trade as high as $0.70 in value now.
But, like ETH (Ethereum), Cardano’s price didn’t stay above this mark. Instead, it fell back to $0.6100 again. This pullback has worried many investors and market experts too.
If the price of Cardano does not go up at a certain level, it might drop even more. Some market experts have set a limit at $0.5 if ADA drops below its present support level. Even though things are not doing well, Pushd has been gaining strength?
Pushd (PUSHD) Disrupts eCommerce: Can It Be the New 100x Gem?
Pushd (PUSDH) is one of the few altcoins with a head of steam behind the project. There have been so much talks about this project because of its new marketplace that seeks to revolutionize the eCommerce industry. eCommerce has been projected to hit a valuation of $6 trillion by 2024.
The entry of Pushd into this mammoth market is the reason for the growing excitement. So, what is Pushd looking to do in eCommerce? Pushd is building the world’s first web3 marketplace with the aim of connecting buyers and sellers.
While there are several other marketplaces, Pushd stands out because of its integration of blockchain. Using the latest tech in the industry, Pushd looks to solve some major problems that have restricted the industry.
The platform has eliminated listing fees, thus reducing the total cost for both sellers and buyers. Sellers also enjoy instant payments rather than waiting days to get their funds. Buyers are not left out as well, as the platform rewards them for their engagement.
Final Thoughts
While Ethereum and Cardano face short-term declines, Pushd continues to build momentum. With solutions to the key problems in eCommerce, it’s easy to see why Pushd is being hyped as the next 100x gem in the crypto space.
Before this massive surge, you have a great opportunity to stack the PUSHD tokens, as they only trade at $0.01. Don’t miss out on this great opportunity to join the next blue chip crypto project.
For more information about the ongoing Pushd (PUSHD) Presale, please visit their website.
