The recent downturn in the crypto market saw significant losses, with Bitcoin dropping below $95,000. This bearish trend has impacted several altcoins, leading to substantial sell-offs. Here are three altcoins to sell now to avoid massive losses in January 2025, as they respond to current market dynamics.
Altcoins To Sell : Bitget Token (BGB)
Bitget Token (BGB) serves as the primary utility token for the Bitget crypto exchange. Launched in July 2021, BGB enables platform users to pay for services, stake for rewards, participate in social trading, and receive discounts on transaction fees. Holders of BGB can also engage with the exchange’s launchpad and launchpool initiatives.
To maintain a deflationary supply, Bitget has instituted a quarterly token burn strategy. This involves buying back BGB tokens and permanently removing them from circulation. After a massive surge over the past two days, the Bitget Token has decreased to $7.54, reflecting a 10% drop over the past 24 hours. This price trend suggests that BGB could be among the top three altcoins to sell now to avoid potential significant losses by January 2025.
TL;DR of the updated #BGB Whitepaper:
🔥 Deflationary Supply with BGB buybacks & burn plan
🚀 Expanding Utilities: More BGB use cases on-chain and off-chain
💳 PayFi Services: Use BGB with Bitget pay & cards for paymentsLearn more: https://t.co/HcrZJUmYLf
— Bitget (@bitgetglobal) December 27, 2024
Helium (HNT)
Helium (HNT) operates a decentralized blockchain network specifically designed for Internet of Things (IoT) devices. Since its mainnet launch in July 2019, the network enables low-powered devices to connect and transmit data through its widespread nodes.
Currently, the price of Helium stands at $6.46, experiencing a 7% decrease in the last 24 hours. This week, HNT’s value has dropped by 10%. Should this downward trend continue, Helium’s price might fall to $4. This positions it as one of the top three altcoins that could be advisable to sell.
FTX Token (FTT)
FTX Token (FTT) serves as the principal digital currency for the FTX cryptocurrency derivatives exchange, which began operations on May 8, 2019. T entered Chapter 11 bankruptcy protection in the United States on November 11, 2022, with legal processes still active. It is crucial to exercise caution when dealing with the FTT token, as the current status of FTX may not be stable.
Recently, the value of FTT has fallen, positioning it as one of today’s significant decliners on CoinMarketCap. As of today, the price of FTT has dropped to $3.26, reflecting a 6.33% decrease over the past 24 hours.
In conclusion, as the crypto market experiences continued volatility, selling specific altcoins could be wise. These adjustments are crucial to prevent potential financial strain, reflecting the broader negative sentiment within the crypto industry.
Frequently Asked Questions (FAQs)
Bitget Token is the primary utility token of the Bitget crypto exchange.
BGB’s price has dropped significantly, suggesting potential future losses.
Bitget uses a quarterly token burn strategy to reduce BGB’s supply.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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