These two solid altcoin picks are trading lower today.
Pick 1 : RUNE
This is the native token for THORChain a decentralized liquidity protocol. In a nutshell, it’s a system that allows you to swap one digital asset or coin for another without trusting a central company like a crypto exchange and without trusting a central server. Coins or tokens do not need to be wrapped or converted to be traded on THORchain. The RUNE token facilitates the trading of coins and tokens across THORchain liquidity pools. As the crypto space expands and more people look for alternatives to centralized trading platforms THORChain is sure to grow as one of the most popular solutions in this space. As you can see from the attached chart RUNE’s price action was trending up prior to the recent crash.
RUNE Chart as of 06/04
Currently, RUNE is ranked #47 by market cap on CoinGecko. To get more information on RUNE and the THORChain project check out https://thorchain.org/ or go to CoinGecko https://www.coingecko.com/en/coins/thorchain
Pick 2: BAND
Band protocol is often compared to the much larger cap LINK token. Both BAND and LINK are cross-chain data oracles designed to bring instant access to off-chain data that may be needed by a smart contract. Possible use cases include health care data, real estate documentation, travel logs, stock and commodity prices, and even the weather. As blockchain technology grows the need for data oracles will also grow exponentially. Already BAND protocols integration with other projects looks very promising. Some recent examples are ICONfi, Injective and BAND has even been added by Google into its cloud services to enable immediate and accurate analysis of financial time series data. With a max supply of only 100,000,000 Band tokens at a price as of the writing of $8.33 this project has a lot of room to grow.
BAND Chart as of 06/04
Currently, BAND is ranked #163 by market cap on CoinGecko. To get more information on BAND and the Band Protocol check out https://bandprotocol.com/ or go to CoinGecko https://www.coingecko.com/en/coins/band-protocol
How to trade BAND and RUNE
A simple and effective altcoin trading strategy for when a market is trading sideways is to choose coins with solid fundamentals that were trading higher prior to a crash. Since the 05/19 crash, many coins have been alternating between leaders and laggers. If you watch the charts it's easy to notice a pattern forming. When one coin is up 10% percent or more you may want to consider selling and rotating into a coin that is down 10% or more – often within a day or two, these coins will go from laggers to leaders allowing you to scoop up the profits as you rotate in and out of your favorite coins. Of course, we can't say when another large BTC dip or crash is coming so always remember to do your DD and be sure about a project's fundamentals. No one wants to be caught holding a bag of Dog??.. Well except maybe Elon..
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Please note: this post is not financial advice and should be considered as entertainment only.
