Following the bullish run in the crypto market in May, coin prices have been falling in June. The Bitcoin price has dropped from its latest all-time high of over $111K to slightly over $101,000. But it’s not only Bitcoin affected by the recent market trends. Altcoins like Ethereum (ETH) and Ripple’s XRP have plunged into the red zone after a downward shift.
In other news, a new altcoin on presale has been on everyone’s lips after an unprecedented raise of over $15.5 million in a few months. The parabolic movement in the Remittix price during presale has caused experts to tip it as the best crypto to buy. Read on to find out more.
Crypto whales eye Remittix after 400% gains
Remittix has quickly gained attention among retail investors and institutional players despite still being a presale token in its infancy stage. The early success of the Remittix project is contributing to its high demand among investors, especially those seeking underrated gems in the crypto market. The presale has already returned a whopping 400% profit to those who bought the token early.
This means the token has outperformed established tokens like BTC, ETH, and XRP this year. However, keeping investors lined up for more is the token’s likelihood to surge by 1,000%+ following it’s official launch on top crypto exchanges. Remittix is looking increasingly likely to go all the way to such heights, thanks to its exciting use cases in Payment Finance (PayFi).
These include the Remittix payment solution that allows users to send crypto and have it converted to fiat, to be deposited directly into the receiver’s bank account. It’s an intriguing feature with mass adoption appeal, offering 30+ fiat currencies to be chosen from and securing Remittix as a remittance giant for users and businesses worldwide.
ETH slips below $2,400 despite ETF accumulations
There has been a surge in the demand for Ethereum exchange-traded funds (ETFs) among institutional investors. According to data from Cointelegraph, over 42,000 ETH were bought on June 3 and there was a net inflow of $109.5 million entered the ETH ETF space. Moreover, powerful individuals like Ethereum’s co-founder, Vitalik Buterin, bought over $780,000 worth of ETH.
Source: CoinMarketCap
However, despite the strong demand for ETH among these investors, the Ethereum price has been falling. In the past week alone, the ETH price has dipped by over 7%, mirroring the Bitcoin price movement. This shows that the bullish sentiment among investors doesn’t exactly reflect in the current Ethereum price movement and the optimism in the Ethereum community.
XRP breaks into the red zone after an 8% loss
Another altcoin that has been following in BTC’s steps is Ripple’s XRP. The XRP price has dipped by over 8% in the past week, reflecting the brewing negative sentiment among investors. The decline in the XRP price has seen it fall to around $2.08 from its monthly high of $2.61 attained in May.
Source: CoinMarketCap
The negative movement in the XRP price has caused investors to seek viable alternatives with potential, especially in the global payment space, which is predicted to be the next big thing in the general crypto market. As competition brews, we could even see XRP being displaced and RTX taking over as the leading payment token.
Conclusion
With many of the large-cap tokens waiting for progress and uncertainty surrounding their future, it is easy to understand why altcoins are likely to see a serious comeback this season. With Remittix on course to be the next big thing in global payments, the best time for investors to back the project is in presale while its tokens are available for just $0.0781.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
