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Federal Reserve Chair Jerome Powell recently issued a cautious warning. That indicates high inflation persistence could postpone any potential interest rate cuts by the Fed until later this year. The remarks spooked the markets, causing investors to sell off their cryptocurrencies before deciding on their next move.
The Kaspa (KAS) and Optimism (OP) cryptos have been in a slump during the recent market dip.
Therefore, investors are taking more interest in Raffle Coin (RAFF) as a viable investment option. This article explores why Raffle Coin has more upside potential than Kaspa and Optimism in the face of biting inflation.
Kaspa (KAS) Falls Almost 8% in a Week
In line with the broader cryptocurrency market, Kaspa has fallen almost 8% in a week. When writing, KAS is trading at $0.1211. It is the same story on the monthly chart, where it has fallen 16.6%. That fall prompted investors to think the cryptocurrency could be headed for a cooling-off period. In the past year, Kaspa (KAS) gained 408% and had a massive rally.
Throughout 2023, KAS scored a few achievements. Kaspa introduced its browser wallet and further bolstered its appeal to investors. It reached a high of $0.1894 on February 20 and has been on a decline since then. Some analysts believe this slump could be deeper. It has forced investors to sell their assets and hold new but promising projects.
Optimism (OP) Foundation Sells Tokens Worth $90 Million
The Optimism Foundation announced on March 7 that it was involved in a private token sale, offloading around 19.5 million OP tokens to an undisclosed purchaser. Based on prices at the time, the Optimism Foundation made $90 million from the sale.
The OP tokens sold during this private sale are subject to a stringent two-year lockup period, indicative of a long-term investment horizon. That’s a breath of fresh air to current OP holders, as the private buyer cannot immediately dump the tokens and trigger a price decline. At the time of writing, OP is going for $2.59 per token, indicating a 20.5% drop in the past two weeks. Analysts are optimistic that Optimism will pick up steam in the second half of the year.
Raffle Coin (RAFF): The New Avenue to Big Profits
Raffle Coin is redefining the landscape of digital lotteries by offering a decentralized lottery and raffle system. Leveraging the power of blockchain technology, Raffle Coin focuses on security and transparency to give a fair chance of winning prizes, including cryptocurrencies, cars, and even holidays.
Raffle Coin users participate in raffles and earn rewards through engagement, complemented by exclusive perks within the VIP program. To give users peace of mind, Raffle Coin has passed a security audit. This has made RAFF an instant hit with investors who are signing up to buy Raffle Coin (RAFF) tokens for only $0.02 in stage 1 of its highly subscribed presale.
Find out more about the Raffle Coin (RAFF) presale by visiting the website here.
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.
