The cryptocurrency market took a hit this week, as investor sentiment turned increasingly bearish.
Various factors contribute to this negative sentiment, which has seen Bitcoin drop more than 5% in the past four days while Ethereum is down 3%.
In this article, we take a closer look at these factors before highlighting several altcoins that are surviving this bearish wave and making millions through their respective pre-sales.
Macroeconomic factors influence crypto market sentiment
Volatility continues to run rampant in the cryptocurrency market, as last week’s bull run was replaced by a sharp reversal in fortunes.
A major contributor to this decline is the uncertainty surrounding the US debt ceiling.
Over the past two weeks, US politicians have engaged in intense negotiations, seeking to strike a deal to raise the debt ceiling and thus prevent a potential default.
The possibility of a US default has sent investors on edge because the US has not defaulted on its obligations.
However, if that were to happen, it would likely trigger a domino effect throughout the financial markets – with no saving the cryptocurrency market from the fallout.
for every CNBCYesterday, the House of Representatives passed a bill to raise the debt ceiling, yet it still has to work its way through the Senate before it can be put into effect.
Another factor driving the decline in the market is the recent bearish trend in Bitcoin ($BTC).
according to Queen GekkoBitcoin now has a market capitalization of $521 billion, which means it has a market dominance of around 44%.
Thus, bitcoin fortunes often determine the overall direction of the market. When bitcoin takes a hit, other cryptocurrencies usually follow suit – a scenario that seems to be unfolding in the market today.
Finally, the crypto market is also affected by Latest Personal Consumption Expenditure (PCE) Datawhich showed that inflation remained stubbornly high in April.
This poured cold water on investors who were optimistic that the Fed might choose to stop raising interest rates – or even start implementing rate cuts.
When rates are high, “risky” asset classes such as cryptocurrencies are viewed with trepidation because investors are more likely to invest in safer assets, such as bonds.
Thus, given the lack of movement in the PCE index, investor sentiment in the market may continue to negatively impact.
yPredict is defying the odds and flying higher, raising nearly $2 million
Due to the uncertainty caused by the current Bitcoin and Ethereum price movements, many cryptocurrency investors are now looking to hedge their risks.
One of the options that is gaining momentum in this regard is yPredict ($YPRED) – A crypto analytics platform built on the Polygon Network.
This platform is designed to be the world’s first “all-in-one” AI-powered analytics ecosystem targeting developers, traders, quants and analysts.
To achieve this mission, the yPredict team has developed a suite of valuable tools and services, all housed in one easy-to-use (and beginner-friendly) platform.
According to the project White papersSome of the key features included in the platform are real-time trading signals, crypto market sentiment analysis, AI-powered technical analysis, and automatic recognition of chart patterns.
Moreover, yPredict will also have a niche marketplace where traders can access advanced predictive models developed by the top 1% of Artificial Intelligence and Machine Learning (ML) experts.
This market is already getting a lot of interest as it allows traders to access models normally reserved for institutional investors while creating a passive income opportunity for AI/ML developers.
Traders must use $YPRED, yPredict’s native token, to access these models – although token holders will also get free access to the ecosystem’s other analytics tools.
Due to its cutting edge features, yPredict has already seen massive interest from the community – over 20,000 people are reportedly on the waiting list for the project.
Currently, yPredict is still in its infancy stage and has raised nearly $2 million from early investors.
This pre-sale is in phase 6 of 8, with tokens YPRED $0.09 – 33% less than the planned exchange list price.
Launchpad XYZ revolutionizes the Web3 environment through education
Another project defying the odds in the crypto market is Launchpad XYZ ($LPX).
Like Wall Street Memes, Launchpad XYZ is in pre-sale and just forked $800,000 in financing.
This Ethereum-based project is paving the way in the crypto space with its comprehensive Web3-centric platform that aims to simplify the process of investing in digital assets.
Launchpad XYZ’s ecosystem includes many features, such as NFT DEX and a cryptocurrency pre-market, making it easy for beginners to get involved in the ever-growing Web3 environment.
Moreover, Launchpad XYZ will also focus on education, offering an “Inside Edge” newsletter and a Telegram channel dedicated to trading signals for all users.
As if that weren’t enough, those looking for an immersive experience can also check out Launchpad XYZ’s metaverse library – ensuring there’s something for everyone.
Launchpad XYZ utility icon, $LPX, is crucial in facilitating all of the platform’s features. Not only is the token used to pay trading fees, but their token holders can also earn exclusive privileges – such as access to NFT whitelists.
Early adopters can now purchase USD LPX through the Launchpad XYZ pre-sale for just $0.0445 – 26% less than the intended listing price.
Ecoterra paves the way for green crypto investment with over $4.6 million raised
Finally, a project focused on sustainability ECOTERRA ($ ECOTERRA) It’s also making big moves in the market, raking in more than $4.6 million before it was officially launched.
Investors have been eagerly competing to acquire ECOTERRA USD tokens with an ongoing pre-sale, given that they are offered at such a low price.
Like the other two projects mentioned above, Ecoterra is gaining incredible traction, even though the crypto market has taken a back seat – with the project Twitter account It is growing to over 16,000 followers.
Driving the hype around Ecoterra is its eco-friendly mission to incentivize people and businesses to act sustainably through the Recycle2Earn app, which rewards users with $ECOTERRA tokens whenever they recycle common materials.
Ecoterra’s ecosystem will also feature a carbon offset marketplace, a marketplace for recycled materials, and even a general “impact profile” for each user – ensuring that it’s truly a one-stop solution for environmentally conscious crypto users.
Currently, ECOTERRA USD tokens can be obtained through Phase 7 of the Pre-Offer for as low as $0.0085.
However, the allocation for this stage is quickly running out – once it is broken, the price will rise to $0.00925.
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