There is a growing interest in tokens that have practical utility that can weather the storm and stand the test of time. These tokens have proven their worth at a time when tokens such as Ethereum are facing price correction after the recent March rally.

One such token is Raffle Coin which has sparked increased interest across the crypto ecosystem.

The first bull run of 2024 took everybody by storm. By mid-March, tokens such as Ethereum had soared by over 70% and moved above the $4,000 resistance level.

However, this impressive run was short-lived by the price correction that started in the first week of April. Three weeks later, Ethereum has stabilized above the $3k support level and now trades for $3,195.

This price correction now puts Ethereum above the $3,000 support level and a substantial zone, comprising the 100-day moving average and a critical price range between the 0.5 and 0.618 Fibonacci levels.

Ethereum holders anticipate a major rebound and another bull market by midyear which could see Ethereum surge to about $5,000. Until then, Ethereum holders are diverting their investment portfolio to Raffle Coin while the price correction continues.

Since the end of the bull market that saw every major token recording increased transactions and price surges, Cardano and ICON are some of the tokens that have recorded price declines.

In the past month, Cardano dropped by 18.7% and now stands at $0.5132 while ICON had a similar fall of about 17.6% and now stands at $0.24.

This price decline has affected the market capitalization with Cardano and ICON investors losing interest. The loss of interest is evident in the decline in investors’ movement and most activities were the sale of the Cardano and ICON assets or diversion to other assets.

For Cardano with a lower transaction fee, we expect that there would be increased investor movement on the blockchain while the token might continue to struggle. As for ICON with no other practical usage, its investors are diverting to Raffle Coin which has a greater utility function.  

Right from the announcement of Raffle Coin, it has gathered enough buzz and attracted attention from crypto holders and investors. Raffle Coin continues to sustain the tempo in its presale stage one, which is available for just $0.02.

While there are several reasons for the renewed interest in Raffle Coin, the major reason is the practical usability where you can own the token and engage in raffle draws and the decentralized lottery system.

The raffle feature enables holders to earn rewards ranging from crypto to shopping vouchers to gifts and vacations. It is one of the best ways to earn passive income as every holder has a fair and higher chance of winning big.

Find out more about the Raffle Coin presale by visiting the website here.

Disclaimer: This sponsored content is not endorsed by CaptainAltcoin, which takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.

The post Raffle Coin’s Presale Sparks Interest Among ICON & Cardano Traders as Ethereum Stabilizes Around $3K appeared first on CaptainAltcoin.

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