Tron ($TRX) Open Interest Climbs, Arbitrum ($ARB) Struggles, Domini ($DOMI) Overtakes Rivals
Both Tron ($TRX) and Arbitrum ($ARB) have struggled significantly in August 2023. But both projects are showing signs of making a comeback soon. With major coins on a rollercoaster, is an innovative project like Domini ($DOMI) the way to go? To help answer that, let’s briefly look at Tron’s ($TRX) and Arbitrum’s ($ARB) current positions.
Tron ($TRX) Struggles to Gain Value Despite Huawei Collaboration
On August 10, 2023, Huawei announced that it would be extending support to Tron via its Web 3.0 node. With Huawei’s strong presence in the developed Asian market, this news should have registered strong price action in Tron ($TRX).
Yet Tron ($TRX) only managed to gain a meager 1.3% in value, edging between $0.076 on August 10 and $0.077 on September 1. This may have been due to a few different factors.
First, the August 17 market crash seems to have impacted Tron ($TRX) as one of the top altcoins that suffered significant liquidations. Secondly, Tron ($TRX) may have suffered from bad press relating to the Tron ($TRX) network being used in terrorist financing activities, according to a report published by TRM Labs in late July 2023.
But all hope is not lost for Tron ($TRX). It still maintains a solid position and reputation in the market as one of the best cryptos to buy. Tron ($TRX) has strong support from its technical indicators, which could mean an uptick in the coming days.
But besides Tron ($TRX), is that the case for Arbitrum ($ARB) as well?
Arbitrum ($ARB) May Be About to Turn Things Around After a Month of Losses
In the month leading up to September 1, 2023, $ARB fell from $1.1 on August 2 to $0.92, a 13.6% decline. This notable downtick was due to the flash market crash around mid-August.
However, Arbitrum ($ARB) seems to be regaining some ground. For instance, on August 31, Offchain Labs announced the launch of a back-end update called Arbitrum Stylus. This update allows coders to write and run code on Arbitrum ($ARB) in popular languages they may already know.
Following this development, Arbitrum ($ARB) rose nominally by around 1% from $0.91 on August 31 to $0.92 on September 1. While this may not seem like a major jump, it is still something considering Arbitrum’s ($ARB) monthly losses.
This development, combined with Arbitrum’s ($ARB) positive technical indicators, may mean that $ARB may see better days soon.
While Arbitrum ($ARB) recovers, Domini ($DOMI) may be another promising crypto to buy.
Domini ($DOMI) presents a Unique Alternative to the Traditional Art Market
Domini ($DOMI) is a platform aiming to increase your access to high-end artwork massively. It does this by converting artworks into NFTs to buy. This way, artworks and their ownership are recorded on the blockchain, which makes things extremely secure and immutable.
Having assets as NFTs also helps Domini ($DOMI) give its users additional benefits like accessibility and liquidity. Domini ($DOMI) lists its assets on the Domini ($DOMI) marketplace, where you can trade ownership for all the different styles of art the platform offers. Since you can own smaller fractions of the original asset, it may not cost you that much to build a diverse portfolio on Domini ($DOMI).
Domini’s ($DOMI) utility in the real world as an alternative art market strengthens its position in the long term. But you can expect massive returns from Domini ($DOMI) in the short term as well.
Domini ($DOMI) is currently in the beta stage of its presale at a price of $0.0021. This price is expected to increase to $0.0154, a gain of 633%. This expected gain helps make Domini ($DOMI) an extremely lucrative investment option in the short run. And if you invest right now, you can enjoy a further 10% bonus on your deposits using the ‘DOMI10’ promo code.
Learn more about $DOMI here:
Visit Domini Presale | Join Our Community
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
