With the downturn in Cardano's profitability, many are turning their attention to Optimism and Domini for potential new investments.
As Cardano ($ADA) faced bearish conditions prior to September 1, 2023, Optimism ($OP) also experienced a notable downturn. Despite their struggles, Domini ($DOMI) stands out as a promising crypto investment due to its ongoing presale.
Before diving into Domini's potential, we should first evaluate the current states of Cardano and Optimism to identify the most worthwhile investment options.
Cardano's value has been impacted by recent fluctuations in the market.
On August 31, 2023, data from Santiment revealed a sharp 70% drop in Cardano's ($ADA) daily active addresses , plummeting from a peak of 105,000 down to just 34,000. Analysts suggested this decline could weaken confidence in $ADA, potentially causing further price drops.
These predictions came to fruition, as the token’s value decreased by 2.3% from $0.264 to $0.258 over the period from August 31 to September 1, 2023.
Nonetheless, despite the recent downturn, analysts are cautiously optimistic for Cardano, thanks to supportive technical indicators and ongoing developer engagement. By September 1, the monthly metrics for Cardano reflected a positive trend. Specifically, both the Momentum 10 and HMA 9 indicators appeared favorable, hinting at a potential upswing in the near future.
What about Optimism? Is it experiencing a similar positive outlook? Let’s explore this further.
Optimism ($OP) is facing tough competition from Layer 2 counterparts.
On August 11, 2023, Coinbase’s BASE platform overtook Optimism in terms of daily users, hitting a record of 136,000. The surge in BASE’s popularity has been linked to the buzz around Friend.tech, a social media application built on the BASE network. This loss of confidence in Optimism may pressure $OP's price.
As anticipated, the value of $OP dropped by 12.4% from $1.576 to $1.380 between August 11 and September 1, 2023. Although $OP remains in bearish territory, analysts expect a possible recovery following its recent losses attributed to market volatility.
Moreover, by September 1, monthly indicators for Optimism indicated a bullish potential , particularly the HMA 9 and Momentum 10 metrics.
While $OP seeks to regain footing, Domini could present a lucrative investment opportunity.
Domini ($DOMI) is reshaping the art market by creating an accessible platform for high-value blue-chip art through the innovative approach of fractional ownership. This feature allows investors to delve into the world of modern art at a fraction of traditional costs.
The marketplace created by Domini enables a diverse investment portfolio by showcasing a wide array of art styles. Additionally, Domini prioritizes the security and transparency of transactions by transforming these artworks into NFTs. Investors who hold $DOMI tokens enjoy added benefits.
Domini enhances its token holders' benefits by granting exclusive early access to new blue-chip artworks and offering discounted rates on transaction fees. Moreover, holders of $DOMI tokens gain exclusive invitations to premium art exhibitions and gallery openings, which provides a unique opportunity to connect with artists and industry leaders. This differentiates Domini and contributes to its expected growth during its presale.
As of September 1, 2023, Domini has entered the beta phase of its presale. Investing in $DOMI now could lead to a anticipated 23.8% increase , from $0.0021 to around $0.0026, as the token progresses to the next presale stage. For those looking to maximize their investment returns, using promo code ‘ DOMI10 ’ can provide a 10% bonus on deposits of $DOMI right now.
Please remember that the content on this page does not constitute professional advice in legal, tax, investment, financial, or any other form. Ensure you only invest funds you can afford to lose, and seek independent financial consultation if you have uncertainties. For more details, we encourage reviewing the terms and conditions as well as the support resources provided by the issuer. MetaversePost is dedicated to delivering precise and impartial news; however, market dynamics can shift unexpectedly.
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In line with the Trust Project guidelines Gregory, a digital nomad from Poland, serves as a financial analyst and contributes to various online platforms. With extensive experience in finance, his expertise has brought him recognition across numerous publications. In his spare time, Gregory is focused on authoring a book that dives deep into cryptocurrency and blockchain technology.
