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2 altcoins to buy when cryptocurrency prices rally

 


Bitcoin and altcoin prices had a strong week as investors embrace risky assets despite the Federal Reserve's hawkish statement. The total market cap of all cryptocurrencies managed to surpass the $2 trillion mark as most coins jumped higher. Here are some of the best altcoins to buy during the recovery.


Cronos

Cronos (CRO) is a blockchain project previously known as the Crypto.org Chain. It is a recently launched project brought to life by Crypto.com , one of the most well-known companies in the industry.


Cronos is a platform that provides an Ethereum Virtual Machine (EVM) solution for building highly scalable decentralized applications (dApps) across all industries. Most of its industries are in DeFi, NFT, gaming and metaverse, tools and analytics, and other Web 3.0 applications.


In recent months, some of the most popular DeFi platforms have seen notable success. Some of those that are doing well are VVS Finance, Tectonic and MM Finance, which have a combined value of billions (TVL).


Therefore, as the ecosystem expands, there are chances that Cronos price will do well. Cronos is trading at $0.44, which is well below its all-time high of nearly $1. Therefore, as shown below, having moved above the triangle pattern, there are chances that the coin will have a bullish breakout.




Ether

Ethereum (ETH) price has been at the forefront of this rally. On Thursday, the coin is trading at $3,100, its highest level in weeks.


There are several catalysts that have propelled Ethereum price higher. First, there is the fact that Ethereum has managed to maintain its market share despite facing significant competition from Avalanche, Solana, Kadena, and even Cronos. In fact, its platforms are among the largest in the industry. Think of networks like Aave, Decentraland and Axie Infinity. They are all built using Ethereum infrastructure.


Second, Ethereum is rising ahead of The Merge. This is one of the biggest events in Ethereum history and will be part of the transition from a proof-of-work to a proof-of-stake platform. Recently the developers managed to push the new platform into a testnet and the process is going well. Therefore, there are chances that this merger will happen in the coming weeks and analysts expect it to rise.


Finally, the technicals are also supportive of the coin considering it has moved above the upper side of the triangle pattern.

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