Tether (USDT) is by far the world’s largest stablecoin, playing a key role in supporting the entire crypto ecosystem both as an on-ramp and off-ramp to fiat currencies and cryptocurrencies. Solana (SOL), meanwhile, has been fraught with poor price action in 2024 after being one of 2023’s best performers. However, market analysts believe they aren’t the ideal investments for investors looking to make gains in 2024. Instead, the smart money is betting on exciting new and recently launched projects like Pushd (PUSHD) as one of the best investment opportunities of the year. Here’s why.
Solana (SOL) Sputtering Out to Begin 2024
Solana, despite recording an 11x increase in 2023, has been through a rough couple of weeks to start the year, pulling back from its 2023 high of $126 to dwindling below $90 last January 3rd. Despite recapturing the $100 level upon the approval of the Bitcoin ETF, it has since fallen back to trading around the $92 mark as of press time. The SOL/USDT pair faces uncertainty with the 20-day EMA at $96 and its Relative Strength Index (RSI). Sustained price below the 20-day EMA may lead to a dip, potentially to $67. To avoid such a bearish scenario, Solana bulls will need to push and sustain above the downtrend line to push the pair above the $117 mark towards retaking its December 25th high of $126. The question remains: can Solana Bulls muster enough support? That remains to be seen.
Diversifying into Tether (USDT) More Appropriate for Crypto Whales
Tether (USDT) is commonly used for profit realization and hedging by market participants. Stablecoins, like Tether, serve as convenient on/off-ramps for converting between crypto and fiat. Staking stablecoins on exchanges or in liquidity pools offers moderate APY, typically around 10%. However, yields are lower compared to early-stage or low-cap projects, making it more suitable for large stablecoin holders. After all, Tether staking and liquidity pools on centralized exchanges easily outperform the returns from traditional financial institutions. While Tether will remain an important part of the crypto ecosystem moving forward, they aren’t exactly an investment for growth-focused investors looking to make the outsized gains associated with crypto.
Pushd (PUSHD) Primed for a Massive Pump in 2024
Pushd (PUSHD) couldn’t have picked a better time to launch its presale. With the Bitcoin ETF already a done deal and the halving/bull run cycle just around the corner, market analysts believe that Pushd is on the precipice of a massive pump in 2024. As at press time, the Pushd presale event has drawn over 12,000 presale investors queuing up in the runup to stage 3.
Pushd is building the first viable top-tier decentralized online marketplace to rival eCommerce giants like Amazon and eBay, but without their associated drawbacks. Users will be able to enjoy low fees, minimal KYC, and a superior user experience powered by Web3. PUSHD token holders will receive a revenue share from the ecosystem’s profits, with larger token holdings correlating to a greater piece of the pie.
Presales are where the most explosive gains can be made. With Pushd only in stage 3 of its presale phase, with discounted token prices at $0.06, and legitimate 20x potential, the sky’s the limit for Pushd in 2024.
Find out more about the Pushd presale at their official website.
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