In the days leading up to August 31, 2023, SUI ($SUI) fell in value substantially, while Litecoin ($LTC) showed some weak signs of recovery following a downtick tied to the August 17 market crash.
But perhaps the coin capturing the most attention is Domini ($DOMI), a project currently in presale stages. Before we delve into Domini, though, let’s take a closer look at SUI and Litecoin.
SUI’s Value Falls on Token Increase
On August 31, 2023, SUI added around $535,000 worth of new tokens into circulation. This raises SUI’s overall supply, exerting inflationary pressure on its price. Investors seem to have anticipated negative price action, causing a sell-off. $SUI’s price fell from $0.60 on August 24 to $0.52 on August 31, a notable 13% drop in the week leading up to the vesting unlock.
And it appears the pain for $SUI price isn’t over yet, based on Trading View’s macro technical indicator report pointing to a bearish or sell direction as of August 31.
So with SUI going through a rough patch, is Litecoin ($LTC) a good crypto to buy at the moment?
$LTC Recovers After Wider Market Dip
Litecoin suffered a major 22% drop from $82 to $64 between August 15 and 17, 2023. This was in the midst of the flash market crash when major cryptocurrencies suffered high liquidations. But Litecoin has recovered from the fall in the days leading up to August 31.
$LTC price increased by 4.6% from $64 on August 29 to $67 on August 31, possibly due to the United States District of Columbia Court of Appeals’ opinion on August 29 in the SEC Vs. Grayscale case favoring Grayscale that lifted market sentiment for cryptocurrencies as a whole.
This decision was particularly good news for Bitcoin ($BTC), as Grayscale’s application is specifically for a $BTC Spot ETF. But as Litecoin and Bitcoin are closely related, the announcement helped both coins.
Yet despite the positive news, $LTC’s outlook reamins bleak. Technical indicators for Litecoin indicate continued bearish or sell positions in the coming days.
So, with that in mind, is Domini ($DOMI) the best crypto to invest in?
Domini ($DOMI) Set to Register Major Gains for Investors as Presale Continues
Domini ($DOMI) is a digital art marketplace with all the perks of the traditional market combined with the ease and accessibility of blockchain solutions. Through its innovative business model, it helps increase access to high-end art investments by a huge margin. How does it do that?
At the core of why Domini may be so impactful for the art market is the concept of fractionalization. This basically means that the artworks Domini holds are not necessarily sold as an individual asset. Instead, these artworks are digitized and broken up into many pieces that represent small parts of the overall asset’s ownership.
Since the blockchain guarantees this ownership, it is highly secure. Once you have this ownership, it becomes an asset that you can list on the Domini platform as NFTs to buy.
Since you have access to fractional ownership of many different types of artworks, Domini ($DOMI) helps you build a highly diversified and stable portfolio at a fraction of the price that the traditional art marketplace can offer you.
All of these factors help solidify Domini’s innovative real-world utility and make its prospects quite bright. In addition to long-term prospects, $DOMI also offers investors short-term gains in its presale.
$DOMI is expected to surge in price from $0.035 to $0.0154 as its presale continues. This is a massive gain of 340% for you as an investor. Plus, if you invest now, you can enjoy an additional 10% bonus on deposits using the promo code “DOMI10” on the Domini platform.