Several cryptocurrencies are experiencing a surge despite the crypto market being downtrend. The rise of these cryptocurrencies can be attributed to different reasons, but they all benefit investors.
Ripple (XRP) and Quant (QNT) have seen their price move to the upside over the last couple of months. They have also managed to sustain their gains. On the other hand, a new project like Flasko is rising in popularity as many investors begin to understand its value proposition to both the cryptocurrency and alternative investments worlds.
Why do Cryptocurrency Prices Rise or Fall
Cryptocurrencies are notorious for being volatile. However, the factors that affect their price movements are not a mystery.
The principles of supply and demand determine the value of cryptocurrencies, the same factor that governs the prices of commodities. This is why investors need to have a good grasp of tokenomics to understand how the number of tokens issued can affect a project’s price.
Another reason is utility. Projects with unique or practical utilities tend to fetch a higher price as they are in demand. This could also lead to partnerships that excite investors. This is reflected in the price.
Another reason that could determine a token’s price is security or breach. A project that suffers a hack will see its value plummet as investors lose confidence in it.
Investor sentiment also comes into the picture. The unfavorable global macroeconomic environment has resulted in financial markets being downtrend since the beginning of the year.
These factors, and more, have the potential to see promising projects such as Flasko enjoy an uptrend.
Quant (QNT) and Ripple (XRP) are on the Rise
Quant (QNT) has been one of the best-performing crypto assets after its price rose more than 100% in 30 days.
Quant (QNT) surged due to whale accumulation, volume, and daily active addresses. The Quant Network launched Tokenise, a mechanism that allows the creation of QRC20 tokens compatible with ERC20 tokens. This also could be another driver for the price surge.
Quant (QNT) did not surge alone. Ripple (XRP) rose more than 20% in a month after Ripple CEO, Brad Garlinghouse, suggested that Ripple’s case against the U.S. Securities and Exchange Commission (SEC) could be resolved as early as HI 2023.
Ripple (XRP) holders are counting on resolving the legal case to spark a bullish momentum for the cryptocurrency. Several cryptocurrency exchanges delisted Ripple (XRP) after the lawsuit. This has affected Ripple (XRP) liquidity.
The price increases seem to augur well for Ripple (XRP) and Quant (QNT), especially given that we are in a bear market.
Flasko (FLSK) Is Set For Huge Growth In 2023
Flasko will be an innovative alternative investment platform catering to investors who will be able to invest in luxury wines, whiskeys, and champagnes. This is a truly innovative and unique concept that will likely prove to be extremely popular considering cryptocurrency users demographics.
With Flasko currently holding a presale and selling at a price of just $0.065, this is likely an amazing opportunity to invest into a successful future cryptocurrency protocol at an amazing price point. Additionally, if Flasko’s token can be listed on major exchanges such as Binance or Coinbase, there is a good chance that the high demand and liquidity will see its price surge.
With Flasko primed for big moves in the future, we believe that it is certainly worth checking them out.
Website: https://flasko.io
Presale: https://presale.flasko.io
Twitter: https://twitter.com/flasko_io
