Things are going from bad to worse for $SUI, the token that powers flashy new layer-1 blockchain protocol of the same name.
$SUI continues to flounder amid elevated concern about new enforcement action from the US Securities and Exchange Commission against the crypto industry, which announced it is suing Binance and Coinbase this week for operating as unlicensed securities exchanges.
The cryptocurrency was last trading in the $0.75s, just above all-time lows high earlier in the session in the $0.74s.
The duo of lawsuits announced by the SEC named a host of cryptocurrencies as securities, meaning if the SEC wins its lawsuits, these cryptocurrencies could face tougher regulations in the US.
$SUI was not named, but traders clearly fear it could get caught up in the crosshairs.
Making things worse for $SUI is a horrible technical outlook.
The cryptocurrency recently broke below a short-term downwards trend channel, having found resistance at its 21DMA earlier in the month.
Sell pressure has been elevated ever since and things continue to look bleak for $SUI.
While $SUI struggles, investors have been flocking to invest in these three crypto projects with promising use cases.
All three are listed by analysts at Business 2 Community as amongst the best presale projects to get involved in this year.
DeeLance, which is building an immersive non-fungible token (NFT)-powered metaverse platform to unite businesses and freelancers, has been billed by observers as revolutionary for the $761 billion-dollar recruitment sector.
The project has already raised a whopping near $1.27 million in just a few weeks since the launch of its DLANCE token presale.
DeeLance also recently secured a huge $1.12 million strategic investment from top venture capital firm Bitgert Ventures, a sign that institutions are increasingly taking note of the project’s potential.
Investors are encouraged to move quickly to secure tokens, as when the presale hits $1.7 million, the price will rise from its current super-cheap $0.038 level.
Given that DLANCE will debut on major cryptocurrency exchanges later this year at $0.57, investors who get in now can be sat on gains of around 50%.
Launchpad XYZ (LPX)
Launchpad XYZ is building a revolutionary, all-encompassing web3 platform that puts all your trading tools in one place.
According to the project’s website, Launchpad XYZ will feature a market information hub called Trading Edge, which will help investors and traders “make an informed decision… with sentiment, news and market insights, as well as top trade setups from experienced traders”.
Launchpad XYZ has a newsletter aimed at providing “market-leading alpha” for more experienced traders and investors (also called Trading Edge), which can be signed up for via the project’s website.
Launchpad XYZ will also feature a market-leading trading terminal, with all trades to be conducted via Launchpad XYZ’s very own, in-house decentralized cryptocurrency exchange (DEX).
“We’ll focus on attracting market-leading liquidity providers to ensure your trades complete fully on the Launchpad XYZ DEX”.
The platform will also offer a peer-to-peer (P2P) non-fungible token (NFT) exchange.
Launchpad XYZ also has you covered for education. The project pledges it will provide “all the training required to be a successful trader and empowering Web3 users of any experience level to maximize their profit potential”.
Launchpad XYZ’s “Alpha” section of the platform will “help you learn what really has an impact on your ability to generate yield from Web3”, the platform says on its website.
All said, Launchpad XYZ claims that its tools will help traders and investors find the next 100x Web3 asset.
These tools include an AI-powered search tool.
To fund the development of its all-in-one web3 platform, Launchpad XYZ is currently conducting a highly successful presale of its native $LPX crypto token.
The project has already raised a whopping more than $900,000 and potential investors have no time to lose to get $LPX before the next price rise.
When the presale hits $1.55 million, the price will go up 3.4% to $0.046 from $0.0445.
Investors who get in now will be sat on a paper gain of around 27% by the time $LPX lists across exchanges later this year at an ICO price of $0.0565.
But analysts think $LPX could go a lot higher.
Ecoterra (ECOTERRA) is the native cryptocurrency of a blockchain-run green ecosystem that incentivizes environmentally friendly behavior.
As outlined in the project’s Whitepaper, the award-winning project is building an all-in-one $ECOTERRA-powered web3 ecosystem, designed to encourage recycling via its first-of-its-kind Recycle-to-Earn (R2E) system, facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.
The green web3 start-up’s R2E app is supported in any country that uses Reverse Vending Machines (RVMs), meaning a huge potential market.
Nascent green web3 projects like ecoterra are expected to play an increasingly important role in global efforts to address climate change in the decades ahead as crypto’s broader adoption increases.
It’s no wonder then that the crypto presale that ecoterra is currently running in order to fund the development of its platform has been a resounding success.
Ecoterra is in the fifth stage of its ECOTERRA token presale, with tokens currently priced at just $0.00925.
The project just passed the massive milestone of having raised over $4.8 million.