As the cryptocurrency market continues to evolve, several digital assets have entered into what is commonly referred to as the accumulation phase. This phase typically indicates a period of steady buying pressure where the price of the asset remains relatively stable. According to recent data from the Phoenix Group, a reputable crypto analytics firm, leading the pack of the most recent assets to enter this phase are Alchemy Pay ($ACH), NEST Protocol ($NEST), and Sperax ($SPA).
Alchemy Pay ($ACH) takes the top spot, having entered its accumulation phase just a day ago and boasting a market capitalization of $313.01M. This fintech project, which aims to bridge the gap between crypto and fiat currencies, has been showing a steady performance in recent times, and this move to the accumulation phase indicates growing investor confidence.
Following close behind is NEST Protocol ($NEST), which also entered its accumulation phase a day ago. This decentralized price oracle network has a market capitalization of $2.61M, demonstrating its potential to become a significant player in the crypto market.
In third place is Sperax ($SPA), a blockchain platform that aims to provide a decentralized financial infrastructure. It entered its accumulation phase two days ago, with a current market capitalization standing at $49.24M.
Further down the list, $Cartesi ($CTSI) has been in the accumulation phase for eleven days, reaching a market capitalization of $85.12M. Celer Network follows, with a market cap of $89.28M, having spent twelve days in the accumulation phase. DAO Maker ($DAO) has tallied thirteen days in the accumulation phase, translating to a market cap of $49.71M.
Also highlighted in the Phoenix Group’s report is Gitcoin ($GTC), which has been in its accumulation phase for thirteen days and now holds a market capitalization of $33.75M. Litentry ($LIT) has spent fourteen days in this phase, building a market cap of $17.67M. Rounding out the list is Alchemix ($ALCX), which has been in its accumulation phase for fifteen days and now boasts a market cap of $28.73M.
These emerging crypto assets entering their accumulation phases signal a promising time for investors looking to diversify their portfolios in the crypto market. As these digital assets continue to mature, it will be interesting to see how they perform in their respective markets and how they contribute to the overall growth of the cryptocurrency market.