Weekend in Crypto: Fantom (FTM) and Ethereum (ETH) Down, Seesaw Protocol (SSW) Up
The advent of crypto has made investors look for more profits and stability
March 2022 has been mixed for cryptocurrency. As with the rest of the entire world, crypto investors have had more than one eye on events in Ukraine, as Vladimir Putin’s forces continue their assault.
Since the beginning of last week, the total cryptocurrency market cap has decreased from $1.95 trillion to, at the time of writing, $1.74 trillion. This is a drop of 11% and the effect of this has been felt across the board. More than half of the top 50 tokens are in the red over the past week, including Dogecoin (DOGE), Polygon (MATIC), and Decentraland (MANA).
Seesaw Protocol (SSW), an up-and-coming crypto release, is making a splash in the presale realm. It continued its upward trajectory over the weekend and will continue to do so for another month until its launch. The likes of Fantom (FTM) and Ethereum (ETH) have not been so lucky.
After being a near-permanent fixture inside the top 30 cryptocurrencies, Fantom (FTM) has, at the time of writing, dropped down to 35th. Its market cap is down to $3.65 billion and its price has dropped 10% in the last week.
Its 2022 high of $3.36 is almost 60% away from its current price of $1.45. This has been put down to several reasons. Firstly, the market has been generally down. Secondly, news broke of the departures of some key personnel. Allegedly up to 24 staff members associated with the project left over the weekend of the 7th of March.
Despite this, hopes are high for Fantom (FTM). Edul Patel, Co-Founder, and CEO of Mudrex believes DeFi is the future, “Tokens would likely bounce back because DeFi is meant to be a trust-less system of finance in which no one single person has the power to influence the system.”
Ethereum’s much-vaunted upgrade has finally been confirmed to be taking place this summer. ETH 2.0 will see a shift to proof of stake and away from proof of work. Ethereum 2.0 should be much quicker and more secure than the current iteration. Crucially, it will lower its gas fees. These have been notoriously high and can be off-putting to new investors.
The current price of ETH is $2633, almost 7% lower than what it was worth a week ago. Vitalik Buterin’s confirmation that the upgrade will take place this year should work wonders for the price as people look to get in at what is perceived to be a low price.
Seesaw Protocol (SSW)
Since the beginning of its presale on January the 25th, Seesaw Protocol (SSW) has shot up by over 2350%. SSW is immune to the forces that dominate the rest of the market as it is still in its presale phase and as a result can only increase in price from now until its launch.
There is still a huge bulk of the presale remaining, around 30 days, and if the current trend of a 2% daily rise continues, SSW could easily surpass $0.2. As DeFi protocols become increasingly popular, now could be the perfect time to release a new and very promising project.
Enter Presale: https://presale.seesawprotocol.io/register
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