The crypto market is yet to come off the bear market. However, the rally in early April 2023 has offered pointers as to what cryptocurrencies could do well or struggle in the next crypto bull run.
Huobi Token (HT) and Enjin Coin (ENJ) are among the cryptocurrencies that are likely to struggle going forward. In the short-lived rally, Enjin Coin (ENJ) and Huobi Token (HT) struggled to draw investor attention.
This indicates that smart money is moving away from them and into new cryptocurrencies showing more promise. Among the promising cryptocurrencies going forward is Sparklo (SPRK).
There is so much excitement around Sparklo that some analysts anticipate it could be a smart buy for anyone targeting 1,000X gains or more in the next crypto bull run.
Huobi Token (HT) Falls Out Of Favor With Investors
At some point, Huobi Token (HT) and other exchange tokens were a favorite among investors. Investors felt that Huobi Token (HT) and its likes were stable since there were actual companies with real revenues backing them.
However, the collapse of FTX led many investors to rethink exchange tokens as an investment. For this reason, Huobi Token (HT) and the like will continue to see an outflow of capital.
At the same time, investors are aware that cryptocurrencies move in waves, and what was hot a few years may not be hot in the future. With all the regulatory issues facing centralized exchanges, analysts don’t expect Huobi Token (HT) to be hot in the next bull run.
While Huobi Token (HT) may not go the FTX token way, analysts don’t expect it to give market-beating returns. Analysts believe investors chasing average gains would do better with safer cryptos like Bitcoin than Huobi Token (HT).
For those seeking life-changing gains from crypto, the opportunity lies in Sparklo (SPRK).
Enjin Coin (ENJ) Stagnates As Investors Seek Better Opportunities
Enjin Coin (ENJ) continues to decline in volume as money flows away. This is quite rational, as little is happening that would be considered ground-shaking with regard to Enjin Coin (ENJ).
Analysts believe cryptocurrencies with bad features, like Enjin Coin (ENJ), will struggle as the market becomes flooded with new cryptocurrencies. The signs are already there for its struggle. Enjin Coin (ENJ) continues to drop market cap rankings as new cryptos with better features surpass it.
Enjin Coin (ENJ) also doesn’t have much in terms of a unique use case. Everything that Enjin Coin (ENJ) has to offer is being offered by other cryptocurrencies that have better features and are more visible in the market.
Sparklo Gathers Momentum As Weak Cryptos Lose Investors
Sparklo (SPRK) is one of the top beneficiaries of the increased capital outflows from cryptocurrencies with low growth potential. Even now, while it is still in presale, Sparklo (SPRK) is seeing a lot of whale activity.
The growing investor interest in Sparklo (SPRK) is not just out of FOMO. The use case is strong, too. Sparklo (SPRK) is looking to transform the precious metals (Platinum, Gold, and Silver) market by allowing investors to buy fractions of them as NFTs.
Besides its strong use case, Sparklo (SPRK) ‘s presale price is quite enticing, at only $0.015. Investors also have confidence in Sparklo (SPRK) because its dealings are above board.
InterFi audits Sparklo (SPRK)’s smart contract, and there is an ongoing KYC audit. Analysts believe Sparklo (SPRK) could do 1,000X after the presale with all these factors at play.
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