Investors with astute altcoin know-how are snatching up discounted deals on these 4 cryptocurrencies amid market downturns
Trending in Crypto: Smart Money Buying Opportunities
The cryptocurrency market took a nosedive on Thursday and persisted into Friday, extending a downtrend that's been brewing for the past few days. Interestingly, despite the market turmoil, some savvy investors—often referred to as 'smart money'—are using this as a chance to snap up promising altcoins. These investors have a proven track record in the crypto industry, typically buying when token prices crash and selling short when they peak. Here are some of the top altcoins they're eyeing now:
Aerodrome Finance (AERO)
Aerodrome Finance, the largest decentralized exchange on Base, is drawing the attention of these astute investors. According to Nansen, smart money has placed net buys on DEX networks to the tune of $180,000. The buying spree might be due to Aerodrome Finance increasing its market share on the Base network significantly. Its DEX volume over the last 30 days was $15.4 billion, overshadowing Uniswap and PancakeSwap which handled $10.9 billion and $3.8 billion, respectively, on Base. Additionally, Coinbase recently announced plans to integrate DEX networks on Base into its main app, giving Aerodrome access to millions of users.
Freysa AI (FAI)
Freysa AI is another intriguing altcoin attracting the interest of smart money. Nansen data shows that in the last 24 hours, investors bought $232,000 worth of FAI tokens, despite a 10% price drop. Freysa AI is a blockchain network based on Base, positioning itself as an agent that coordinates the Digital Twins network. Digital Twins are described as personal companions and second brains, representing users within a global network. FAI boasts a market capitalization of over $102 million.
AAVE
Smart money has also been scooping up AAVE, the leading player in decentralized finance, with total assets worth over $27 billion. According to Nansen data, investors bought $118,700 worth of AAVE tokens in the last 24 hours. Our website notes that AAVE's solid technicals and fundamentals could drive its price toward its highest level from last year, with a 'golden cross' pattern appearing on the daily chart. Fundamentally, AAVE has gained market share in the lending and borrowing industry, with its total value locked (TVL) reaching a record high. Meanwhile, its stablecoin, GHO, has seen its market cap rise to $218 million.
Virtuals Protocol (VIRTUAL)
Lastly, Virtuals Protocol is another top altcoin that smart money is buying. In the last 24 hours, the protocol recorded buy orders worth $60,000 and no sales. Virtuals Protocol is a leading player in the artificial intelligence industry, enabling developers to create AI agents in a matter of minutes. The recent $13 billion investment by Meta Platforms in Scale AI indicates strong growth potential in the AI sector, which could benefit Virtuals Protocol.
In a broader perspective, smart money investors are focusing on altcoins that demonstrate real-world utility, scarcity, and potential for growth, with established players, such as Uniswap and Hedera Hashgraph, offering stability and long-term prospects.
- Amidst the cryptocurrency market's decline, smart money investors are purchasing Bitcoin as a safe haven due to its proven track record and established position in the industry.
- The smart money is also keen on Ethereum, the second largest cryptocurrency by market cap, given its role as a leading platform for decentralized applications and smart contracts.
- additionally, the smart money has shown interest in XRP, the native cryptocurrency of Ripple, which is being utilized by large financial institutions for cross-border transactions, thereby ensuring its long-term growth.
- Another area of focus for smart money investors is Tron, a blockchain-based operating system that offers a decentralized economy and is backed by a number of popular altcoins, like Justin Sun's SUN token.
- Smart money investors are also looking into Initial Coin Offerings (ICOs) that show promise, recognizing the potential of these altcoins to disrupt financial markets and revolutionize technology.
- Beyond individual altcoins, smart money is keeping an eye on the overall decentralized finance (DeFi) sector, as it continues to gain traction and provide alternative methods for investing, staking, and lending in the crypto space.
- In an effort to foster crypto adoption and expand their own reach, crypto exchanges like Coinbase are integrating Decentralized Exchanges (DEXs), unlocking new opportunities for altcoins like Aerodrome Finance, AAVE, and Virtuals Protocol to gain further investment and grow within the industry.
