The cryptocurrency market cap slipped by 3.6 percent in the past 24 hours to about $2.35 trillion. More than $237 million was liquidated from the industry as the altcoins followed Bitcoin in a market-wide correction. With about two days left until the fourth Bitcoin halving, the ongoing market-wide correction has been described as healthy and necessary for post-halving bullish continuation.
Furthermore, the ongoing market-wide correction has allowed investors to buy the dip amid the ongoing super cycle.
The altcoin industry has presented a lifetime opportunity for early investors to make huge profits in the coming quarters. However, some altcoins have been trending on social media platforms, indicating increased demand.
According to market intelligence platform Santiment, Velo (VELO), a blockchain financial protocol enabling digital credit issuance and borderless asset transfers for enterprises using smart contracts, there has been a sharp uptick in online discussions. Recently, the Velo network announced a strategic partnership with Solana (SOL) to create a state-of-the-art clearing house for Laos’ Digital Gold transactions.
However, Santiment noted that Velo could be largely overstated as it works to become the ‘Ripple of Asia’. As a result, Santiment urged investors to approach the project with caution.
As of this report, Velo’s price against the US dollar traded around $0.0106, down 8 percent in the past 24 hours. With a daily trading volume of about $51 million, the small-cap altcoin has been attempting to rally toward its all-time high.
Read Also : Top Altcoins To Buy This Dip For 100x Profits
Omni Network (OMNI), an ecosystem solving the issue of fragmentation across Ethereum rollups, has received huge attention from the cryptocurrency community. Worth noting that OMNI currently has a higher daily trading volume than its market cap, at a ratio of 213 percent, thus indicating bullish sentiment.
Furthermore, Omni Network has received significant support from Binance Exchange and Coinbase Global through listing.
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