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Highlights
- BTC fell from around US$52,000 to US$42,000 before recouping part of its losses today.
- The selloff prompted crypto investors to seek out other altcoins, which could be a good buy right now.
- Illuvium, and NFT fantasy game, is expected to rise over 2x in 2022 from its current prices, according to price predictions from various crypto websites.
Cryptocurrencies are incredibly volatile; however, one cannot deny that they have increasingly gained global attention and are equally rewarding.
Today, BTC fell from around US$ 52,000 to US$42,000 before recouping part of its losses and is currently trading at US$ 46,515 as of 8 September 21 at 1:47 BST. The sudden crash came after El Salvador enacted a bitcoin law and became the first country to accept digital currency as a legal form of tender.
Bitcoin’s flash crash today has prompted crypto investors to seek out altcoins which may be a good buy at the moment.
One such coin, Illuvium, is an interesting option. The Illuvium cryptocurrency is a non-fungible token (NFT) based open world fantasy game.
It is created on the Ethereum blockchain protocol and is the first AAA game built on Ethereum. An AAA game is an informal industry classification given to major or mid-size game makers.
Illuvium has a 3D game environment and also has yield farming and decentralised finance (DeFi) layer features.
Illuvium’s (ILV) price performance
Illuvium, whose governance token is ILV, has a market rank of 236. It was trading at US$ 486.51, down by 5.94 per cent in the past 24 hours, as of 8 September at 1:03 BST. Its market cap is US$ 308.934 million, and its volume is US$ 50.176 million, up by 6.02 per cent from the past day.
While ILV is the governance token Synthetic ILV (sILV) is the in-game currency used to buy player skins, assets and other features.
Illuvium’s (ILV) price prediction
According to the popular crypto website Wallet Investor, ILV’s 1 year forecasted price is about US$ 1598.900, and its 5 year price forecast is US$ 5752.200.
Meanwhile, another crypto price prediction site Digital Coin Price predicts ILV’s 1 year price to be about US$ 874.03 and its 5 year price forecast is projected to be up to US$ 1,778.21.
Bottom Line
NFT and DeFi have been the most popular sub-segments in the world of cryptocurrency and blockchain this year.
Despite the BTC crash, ILV is projected to rise by 2-3x in 2022 due to its unique game and other layers on its blockchain network.
Crypto enthusiasts can consider this altcoin as a potential investment as it is currently trading over 83 per cent below its all-time high of US$ 2,868.95, reached on 29 May.
