The recent bearish market has resulted in a high level of uncertainty for the future of specific altcoins. Shiba Inu (SHIB) and TRON (TRX), two projects that initially saw massive growth and promise for whales, are now having difficulties with the market. However, a new player can dominate the industry – Watchvestor (WVTR). This is a luxury investment platform where anyone can begin investing into luxury watches with as little as $10.
With the launch of Shibarium, a Layer-2 network built on top of Ethereum, many analysts initially assumed that Shiba Inu (SHIB) would spike in value. However, the SHIB token only grew by 8.3% during the past 30 days.
This indicates that the Shiba Inu price is still in the green zone, but its 24-hour performance has left many worried. The crypto dipped in value by 7.4%, ultimately leaving a high level of uncertainty.
With a market cap of $4,942,301,548 and a 24-hour trading volume of $480,386,332, Shiba Inu is currently the 14th largest crypto. However, it's trading at $0.00000838 as of Augusts 18, 2023. According to the Shiba Inu price prediction, it can reach $0.00001078 by the end of the month.
Another cryptocurrency that grabbed the attention of whales was TRON (TRX) as of August 18, 2023. It trades at $0.072821. During the past week, its low point was at $0.071975, while its high point was at $0.077538.
Moreover, the TRON crypto has a market cap of $6,492,674,532 and a 24-hour trading volume of $346,440,049. During the past year, it's been up 6.4%. However, on the weekly chart, TRON is down in value by 5.7%.
While this decrease is not drastic, it has led to uncertainty among investor circles. Subsequently, according to the TRON price prediction, it can reach $0.100 by the end of the year.
As the crypto market is battling the bearish pressure, Shiba Inu and TRON have experienced some losses. As a result, whales have turned to projects that offer more promise, such as Watchvestor (WVTR). This is an upcoming project that features a unique-use case where anyone can get into the world of luxury watches without needing a lot of upfront capital.
Among high net-worth individuals, watches are seen as investments, as traditionally, some brands like Rolex, Patek Phillippe, Richard Mille, and Audemars Piguet had watches that would appreciate in value over time. However, these collectible watches were reserved only for the extremely wealthy, and as a result, they became out of reach for many investors.
This is where Watchvestor fits into the big picture. With just $10, anyone can make investments in these watches. The platform works by digitizing these watches and then minting them as an NFT on top of a blockchain. Then, each NFT will get fractionalized, and investors can simply buy a fraction.
Investors who buy NFTs on Watchvestor will be able to have the watch shipped to any of the 150 supported countries, assuming they buy the entire NFT. During the early presale period, WVTR, the native token, trades at $0.03. It can offer on-platform discounts and provides governance rights.
According to analysts, the token can surge to $0.5 at launch. As a result, those whales looking to diversify away from Shiba Inu and TRON can now look at WVTR as a potential blue-chip token.
Website: https://watchvestor.com/
Telegram Community: https://t.me/WatchvestorOfficial
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.