- Over 560 million people own cryptocurrencies, prompting central banks to explore CBDCs.
- Toncoin, Avalanche, and Solana are positioned for growth amid rising CBDC interest.
- Recent trends indicate potential price increases for these promising altcoins.
Recent data shows that over 560M people own cryptocurrencies worldwide. Now, even Central Banks are exploring digital currencies, commonly called Central Banks Digital Coins—CBDC.
According to experts, some meme coins will see significant growth as Central Banks explore CBDCs. Among them, Toncoin, Avalanche, and Solana are well-positioned to benefit.
Toncoin: Appealing to Both Buyers and Sellers
Source: Trading View
Toncoin’s recent price action shows a struggle between buyers and sellers. At the end of September, TON fluctuated between $6.13 and $5.65.
The bears pushed the price below $5.5 after bulls failed to hold support at $5.7. Yet, the monthly chart presents a different picture. Toncoin (TON) gained about 4%, rising from $5.15 to $5.41.
After dipping to $4.55, bulls regained momentum, pushing the price back above $5.3. If this trend continues, Toncoin might reach the $6.9 resistance level. However, if the price fails to break $6, further declines could occur.
Avalanche: Building Momentum
Source: Trading View
Avalanche (AVAX) also presents an intriguing opportunity. The weekly chart shows positive trends, even with a nearly 4% decline last month from $27.5 to $26.3.
The monthly chart tells a different story, displaying over 20% growth after dropping to $20.8. Avalanche consistently made new highs and higher lows, peaking at $30.7.
Although recent bearish pressure has tempered this rise, many analysts expect continued upward movement. Some even predict Avalanche could reach $123 by 2025.
Solana: Riding the Market Wave
Source: Trading View
Solana (SOL) is riding high, fueled by positive economic reports from China. As inflation slows and interest rate cuts loom, investors are diving back into crypto.
Currently, Solana’s price hovers around $157.8, marking a 20.43% gain from a low of $141.17 earlier this month. However, early profit-taking has kept Solana from breaking above $160.
The upcoming support level at $150 will be crucial. If the price falls below this mark, the rally might stall. For now, panic selling seems unlikely with minimal market fear and the next Fed meeting approaching.
In the end, Toncoin, Avalanche, and Solana have strong growth potential. The exploration of digital currencies by central banks could spark significant growth for these promising altcoins.
The post These 3 Altcoins Are Poised for Growth as Central Banks Explore Digital Currencies appeared first on Crypto News Land.
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