It is no secret that cryptocurrency assets tend to perform incredibly well within specific periods. For launchpad tokens, it is essential to keep the long-term momentum going for as long as possible. Several such tokens have noted substantial gains, yet the 30-day momentum is turning bearish in some cases.
The Bearish Launchpad Tokens
After a launchpad token sale comes to a close, it will often begin trading within 24 hours. That is the time when most investors and speculators will start taking profits, as most feel the maximum potential has been achieved. Although that is not always the case, it is often a matter of time until these tokens go through their first bearish spell.
For the majority of popular launchpad tokens, that time appears to be now. Examples include DODO, POLS, PAID, BAKE, AUCTIOn, POOLZ, and UNCX. All of these assets lost between 10% and 44% in value over the past 30 days. This momentum is to blame on the broader industry facing a bearish spell, although it doesn’t explain everything.
When tokens like these go down in value, their market cap will start to retrace violently as well. To some, it may seem uncanny to have a project like Polkstarter at a market cap of $210.8 million, but that is how the cards stack up today. Oe can also argue that BakerySwap shouldn’t be at under $70 million, but there isn’t much to do other than wait for the market momentum to shift around.
Rising Launchpad Tokens
Whenever some tokens are losing value, others will note the opposite momentum. Several assets are still performing well these past 30 days, including SWAP, DAO, OM, DUCK, YFDAI, and GUM. Holders of those assets will be very happy with the way things are going lately, although the momentum can always turn around on a dime.
Even with these 30-day gains in mind, none of these launchpad tokens achieves a market cap of over $350 million. That is somewhat surprising to onlookers, as many people expect this type of asset to be far more popular. Even so, there is still a long way to go in this regard, especially as competition heats up further.
PancakeSwap Remains The King
No one can deny that PancakeSwap is the biggest of the launchpad tokens on the market today. Not necessarily in terms of individual value per CAKE, but its market cap has surpassed $2 billion in recent weeks. That is a tremendous milestone and sets the bar for other tokens to live up to. Whether that will happen anytime soon is a different matter altogether.
Price-wise, CAKE has managed to hold its own over the past 30 days. It notes a 0.61% change, which is virtually negligible when looking at the much bigger picture. It will be interesting to see what the future offers for CAKE and other tokens in this category, as there is still a lot of value waiting to be unlocked.
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