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Cryptocurrency prices have held quite steady in the past few weeks. Bitcoin has remained slightly above the resistance point at $30k while the total market cap of all digital currencies has remained above $1.2 trillion. This is a sign that cryptocurrencies are extremely resilient amid major challenges.
Crypto resiliency continues
Cryptocurrencies have gone through major challenges in the past 13 months. Terra and its ecosystem collapsed in May last year, leading to over $40 billion in losses. Shortly afterward, Celsius and Voyager Digital collapsed.
The other big collapse in the crypto industry was FTX, the then second-biggest crypto exchange by valuation. It collapsed in November last year, leading to billions of dollars in losses. Fortunately, the new management has been working to rebrand and restart the exchange.
The most recent challenge in the crypto industry has been regulations. In June, the Securities and Exchange Commission (SEC) decided to sue Binance and Coinbase, two of the biggest players in the world. While cryptocurrencies dropped after the lawsuit, most of them have jumped by double-digits since then.
Bitcoin and other cryptocurrencies have also remained resilient after the Federal Reserve embarked on its most hawkish tone in years. It has moved interest rates from near zero during the pandemic to over 5%.
It is not clear whether Bitcoin price will continue rising. As I wrote here, Bitcoin needs to move above the year-to-date high in a high-volume environment to continue the bullish trend. While it has formed a bullish flag pattern, it has also created a double-top, which is usually a bearish sign.
AltSignals token sale continues
One of the top crypto news was the recent success of AltSignals token sale. The developers recently concluded the first stage of the token sale in which they raised over $1 million.
They have now moved to the second stage of the token sale, which has also raised over $1.1 million. The second stage is almost 50% complete. Notably, buyers of the first stage of the token sale have seen the value of their tokens jump by 25%. The token is selling for 0.01875 USDT and the developers will rise it by 12% in the next part of the sale.
For beginners, AltSignals is a leading company in the financial services that is pivoting to the fast-growing artificial intelligence industry. It is already a profitable company with thousands of customers from around the world.
The company provides day trading signals on cryptocurrencies, forex, and other financial assets. These signals come from the traditional technical analysis. Now, the developers are pivoting to AI, which they believe is a better approach to predictions.
Therefore, the ASI token sale is an important part of this transition. Once complete, the platform will become a decentralized autonomous organization (DAO) where holders will vote for key issues and take a cut of profits.
Further, ASI token holders will get more features in its ecosystem. Pro holders with over 50k tokens will get features like a full access to the Actualise AI tool, unlimited watchlists, and the ability to earn passive income from the tokens. You can read more about AltSignals in this white paper.
So, is AltSignals a good buy? Investing in presale tokens is always a risky thing since the industry is not yet a regulated. Therefore, you should be careful before buying the token since the value can crash to zero. However, there is also a likelihood that it will soar as we have seen with other tokens like Pepe and Keke. You can buy the ASI token here.
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