The cryptocurrency market has been hit by a bearish wave in the last 24 hours, with most of the major coins and tokens losing significant value.
Amid growing concerns about a possible default in the US, Bitcoin and its peers have suffered significant losses.
However, many in the investment community remain optimistic that the market can bounce back soon – with high hopes for rising tokens such as AiDoge ($AI), Launchpad XYZ ($LPX), and DeeLance ($ DLANCE).
US Debt Ceiling Concerns Weigh On Crypto Investors
It’s been a tough week for crypto investors, and the current bearish slaughter shows no signs of letting up.
All told, Bitcoin’s value has fallen 4.48% since last Thursday – and is down 1.81% in the last 24 hours alone.
Ethereum is not immune to this downward trend, with the token down 4.72% from Tuesday’s high and 1.74% over the past day.
Other altcoins, such as XRP, Binance Coin, and Litecoin also suffered value decreases.
The heat map of the crypto market compiled by Coin360 It’s a sea of red right now, with only a few coins heading towards the bearish wave.
In addition, data from Blockchain.com reveals that overall trading volume across all major exchanges remains weak compared to this time last week.
A key concern among crypto investors is the ongoing US debt ceiling crisis, threatening a possible default if the US fails to meet its financial commitments.
Such a scenario would have serious consequences for the financial markets – and the crypto market is no exception.
The main concern is that crypto investors choose to liquidate their holdings in favor of traditional «safe haven» assets such as gold.
This could lead to a massive liquidity crunch in the crypto market, making it difficult (if not impossible) for investors to buy or sell assets at market price.
While talks continue in Congress regarding a possible increase in the debt ceiling, progress has been extremely slow, which has increased the concerns of cryptocurrency investors.
AiDoge Raises Investor Encouragement After Raising Over $13.5 Million
However, this is not all doom and gloom – some cryptocurrencies are despite the negative sentiment of the investor and continue to thrive.
It is one of these cryptos AiDoge ($AI) – the revolutionary meme base powered by artificial intelligence.
Still in the pre-sale phase, AiDoge is riding an unprecedented wave of success since its launch last month, raking in more than $13.5 million so far.
The success of this pre-sale has resonated throughout the crypto community, with YouTuber Crypto Gains releasing his video with its 106,000+ subscribers speculating that $AI tokens could list 20 times on exchanges.
Crypto Gains pointed to AiDoge’s unique «meme generator» feature as the source of its hope since it could have limitless potential within the confines of social media.
In addition, since AiDoge users can earn $AI tokens by creating popular memes, this should help boost the platform’s user base and keep people coming back for more.
To add to the growing buzz, the AiDoge team announced a massive airstrip of 50 billion $AI tokens.
This allows pre-sale investors to earn additional $AI by sharing their unique referral link with others, which encourages further investment in the project.
Ultimately, it’s an exciting time for early $AI holders – and with the pre-sale continuing to build momentum amid the ongoing market frenzy, the hype around AiDoge continues to grow.
Launchpad XYZ Spearhead Web3 Accessibility with Over $600,000 Raised
Another crypto that is making headlines for all the right reasons is Launchpad XYZ ($LPX).
Like AiDoge, Launchpad XYZ is still in its pre-sale stage, but has raised over $600,000 from eager investors.
The buzz around Launchpad XYZ is driven by the project’s unique applications within the context of the Web3 environment.
The Launchpad XYZ team is on a mission to simplify the process of operating in this environment for early stage investors by creating a “hub” with a range of valuable tools.
So, the NFT DEX platform will feature a Web3 crypto wallet, a metaverse experience library, a lightning-fast trading terminal, a crypto presale market, and other attractive features.
Since all these features will be housed in one platform, traders will no longer have to deal with multiple service providers to invest in digital assets effectively.
This comprehensive approach has attracted the interest of some big names in the crypto community. Michael Wrubel, who has over 310,000 subscribers on YouTube, recently posted video breaks down Launchpad XYZ, saying it changes everything.
With the Launchpad XYZ pre-sale still offering $LPX tokens at a discount compared to the final listing price, there is growing anticipation among investors, who see it as a golden opportunity to get involved before the platform’s official launch.
Visit the XYZ Presale Launchpad
DeeLance Seeks to Revolutionize Freelance After Raising $1 Million
Finally, the decentralized decentralized platform is trailblazing DeeLance ($DLANCE) also causing a stir amid the chaos of the crypto market.
DeeLance has recently passed the $1 million milestone in its ongoing presale, with investors looking to get $DLANCE before the token launches on several CEXs in the coming weeks.
This project is gaining tremendous momentum due to its transformative potential to redefine free client-client interactions.
DeeLance’s unique approach forwards this process to the blockchain, allowing both parties to connect in a decentralized manner. In addition, DeeLance allows all transactions to be settled in $DLANCE, the native ERC-20 token.
The DeeLance ecosystem will also have a custom-designed NFT marketplace and metaverse experience, adding a level of immersion that traditional platforms like Fiverr and Upwork can’t match.
In addition, DeeLance’s fee structure promises to be much more cost-effective than these established platforms, making it a more attractive option.
Prominent YouTube crypto analyst Jacob Bury recently gave his thoughts on the DeeLance project. He released a video describing how $DLANCE tokens have «insane potential» thanks to the development team’s exciting roadmap.
Overall, the future looks very bright for DeeLance, as the platform continues to attract a wave of investors eager to participate in the ongoing presale.
This article is sponsored content and does not reflect the views or opinions of BeInCrypto. While we adhere to Trust Project guidelines for impartial and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to independently verify information and consult a professional before making decisions based on this sponsored content.
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