The cryptocurrency market is largely dominated by established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which boast a combined market capitalization of more than $1.7 trillion. While it can be difficult for most altcoins to compete with the likes of ETH and BTC in terms of market capitalization, many are challenging these top cryptos by outperforming them in terms of price growth.
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NFT Finance (NFTFN) has emerged as one such altcoin, offering immense growth prospects that has potentially put it on track to outperform ETH and BTC. NFTFN’s unique selling propositions and strong foundation has captured the attention of crypto enthusiasts and experts alike, prompting bullish speculations for its token.
Price Action of ETH and BTC
Since the beginning of 2024, Bitcoin and Ethereum have rallied significantly, boasting double digit surges in their values. BTC has gone from $42,280 to $69,364, recording a growth of 64%. Meanwhile ETH has seen its price go from $2,282 to $3,405 in the first four months of 2024, registering a growth of 51%.
Despite the impressive rallies, BTC and ETH ran into some turbulence over the past week. The prices of BTC and ETH have declined 1.7% and 5.9% respectively. This volatility in Bitcoin and Ethereum’s price has paved the way for promising altcoins like NFTFN to demonstrate their potential.
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A Closer Look At NFTFN
As a leader in the web3 fintech space, NFTFN addresses the various problems surrounding the non-fungible token (NFT) market. Crypto pundits have highlighted NFTFN’s partnerships with industry leaders like Binance Smart Chain, Polygon, Google Cloud and OpenSea, which add significant credibility to this innovative project.
NFTFN’s flagship product, SuperNova (SNV), is a core driver of its utility as well as popularity. SNV is a revolutionary decentralized exchange that fosters an inclusive trading ecosystem by offering exposure to premium NFT collections for as little as $10.
NFTFN’s Potential
NFTFN is backed by the likes of Polygon founder Sandeep Nailwal, who along with other investors like Dapps and Chingari, raised $500k for the project. NFTFN has also raised nearly $400,000 from its ongoing presale, that has seen participation from investors and traders of all levels.
As an NFT-centric token, NFTFN is poised to capitalize on the rapid growth of the NFT market, which is projected to reach a whopping $230 billion by the end of the decade.
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