Key Insights
- The market has turned green, but most major players still struggle with low trading volumes.
- Dogecoin and Kaspa have particularly struggled with this problem.
- On the other hand, investors are taking the chance to scoop up $YETIO.
- That has driven up its sales volume, with millions of tokens already sold.
The crypto market is finally looking positive after months of consolidation.
The altcoin market, in particular, is moving rapidly to the upside. Some of the biggest long-term gainers are even printing double digits.
While Dogecoin and Kaspa have had impressive price action so far, can these two beat Yeti Ouro?
Yeti Ouro ($YETIO), a new cryptocurrency on the block, has been sailing massively through its presale stage. It is also effortlessly dominant in terms of investor interest over even the biggest heavyweights.
Let’s see what’s up with $DOGE and $KAS and whether they have what it takes to beat $YETIO.
Dogecoin
Dogecoin has been up by around 0.5% over the last 24 hours, according to data from CoinMarketCap. However, data also shows that it has moved upwards by around 7.7% over the last week.
This price movement is impressive, but doesn’t reflect much investor interest.
For example, data from IntoTheBlock shows a decline in both the amount and frequency of large whale transactions as illustrated:
Coinglass data also shows that the cryptocurrency’s open interest is still far from recovery, after slumping in March.
These combined indicate that the kind of memecoins hasn’t seen the return of its strongest investors.
Kaspa
According to CoinMarketCap, Kaspa is up by around 0.5% on the daily timeframe, same as Dogecoin.
However, on the weekly it is registering an outright 3% decline as illustrated:
This means that Kaspa is struggling to get on its feet. The reason for this ongoing decline could be the relatively low trading volumes on the cryptocurrency. Interestingly, this has been going on for more than a month now.
Coinglass data shows that the cryptocurrency had its last brief spike on 6 August. Since then, Kaspa has struggled with low trading volumes. That came after it crashed from $436 million on the daily timeframe, to a current $38 million.
Yeti Ouro ($YETIO)
Yeti Ouro on the other hand, has been blazing past the first sale of its presale phase. Investors have been capitalizing on its relatively $0.012 price and the 10% discount it offers to early investors.
Millions of tokens have already been sold so far, as investors rush to take advantage of its highly limited supply. All of this has pumped up $YETIO’s trading volume, allowing it to beat the rest of the market so effortlessly.
For context, the cryptocurrency is the native token of the upcoming Yeti Go game, which is currently in development.
It is an action-packed Play-to-Earn racing game. It was born out of a need to fuse the Game-Fi sector with the power of crypto.
The game is built using Unreal Engine 5 and FMOD. This means it promises to be challenging, entertaining, and to give massive utility to Yeti Ouro.
With all of this real-world activity backing the token so far, no wonder it’s beating players like Dogecoin and Kaspa.
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