While Major Cryptocurrencies Continue Experiencing a Downtrend, Three Mediocre Cryptocurrencies Surge in Prices

ByEdward Thompson

Dec 12, 2021

Ever since the beginning of the month of December, major cryptocurrencies such as BTC, ETH, and more have been facing a downtrend. During this downtrend, there are cryptocurrencies that are breaking it through the bearish barrier moving into the bull zone.

This is where the data from TradingView shows that three networks have been performing really well, demonstrating significant surges. The first network is Flux (FLUX) that has experienced a significant rise in recent days. Then there are SafePal (SFP) and Badger DAO (BADGER) that are also observing a surge in their prices.

For people unfamiliar with Flux (FLUX), it is a proof-of-work protocol that the users can acquire through GPU mining. The protocol has been launched to provide a cloud infrastructure that offers scalable decentralization. The protocol reportedly aims to create an infrastructure that is available for Web 3.0 applications.

The data from NewQuakes and VORTECS shows that on December 9, 2021, the platform would start experiencing an uptrend. This is exactly what happened as FLUX’s price started surging right after an hour of the forecast update. By December 10, 2021, the price of FLUX had soared by 150%.

It was an announcement made by Binance that helped FLUX gain such a high surge in its price. The announcement that Binance made was to enlist FLUX tokens through its platform. As a result, the price of FLUX reached an all-time high of $4.01 per FLUX.

Then it is SafePal that exists as a cryptocurrency software and hardware wallet solution. The platform provides investors the ability to store tokens that circulate through networks such as Tron, Binance Smart Chain, and Ethereum.

The data from TradingView shows that the price of SFP was at $1.55 on December 6, 2021, which was a low figure observed by the token. However, by December 10, 2021, the price of SFP had hit $2.27, which meant that its price had surged by 45.84%. Even the trading volume for SFP had surged up to $158 million, experiencing a 50% surge.

The project experienced the surge right after making an announcement of updating its wallet applications. The platform announced that it has added support for Arbitrum, Optimism, BOBA Network, Songbird, HECO Chain, Fantom, Avalanche, Nervos Network, and Cardano.

Badger DAO is the third network that has demonstrated high performance. It exists as an autonomous organization that helps developers develop infrastructure and products for Bitcoin. However, the catch is that the network is aiming to bring Bitcoin to the decentralized finance side.

The data from TradingView shows that the price of BADGER has surged by 48% on December 9. It was on December 2, 2021, when BADGER ended up experiencing an exploit. However, the network has recovered from the exploit and it is currently building on its price.

The information provided on this website should not be interpreted as financial or investment guidance and may not embody the perspectives of Forex Tools Trader or its contributors. Forex Tools Trader does not hold responsibility for any financial setbacks experienced due to the use of information provided on this website by its writers or patrons. It's essential to thoroughly investigate and make informed decisions before entering any financial commitments, particularly concerning third-party reviews, presales, and similar ventures. The content you are viewing may be sponsored content, read our full disclaimer to learn more.

Don't Miss Out!

Artificial Intelligence Trading Software

CypherMindHQ Trading Robot, OpenAI (ChatGPT4) Enabled - The Best AI Trading System Ever Created

Sign Up

Try Crypto Engine With a Trusted Broker