Top-ranked Layer-1 blockchain platforms have seen devastating drops this week during the overall crypto market wipeout following rising uncertainty in the Middle East.
The leading protocol, Ethereum, is down 12%, while the close second, Solana, is down by a steeper 17%.
While the overall market drop pushes the top 100 projects lower, a newly launched presale continues rising as investors back its BRC-20 theme and learn-to-earn mechanism.
99Bitcoins, the world-famous cryptocurrency education platform, raised an impressive $500K this week—during one of the worst market conditions since 2024.
Layer-1’s Struggle Amidst Crypto Price Correction – Is Solana Heading to $100?
Layer-1 blockchains are struggling amidst the crypto market correction, with some dropping almost double the fall of Bitcoin.
While Bitcoin drops 9% through the week, Solana is down by a devastating 18% as the over-leveraged Layer-1 starts to unwind;
The cryptocurrency witnessed remarkable performance during March, allowing it to climb as high as $206 through the surge.
However, Solana has been trapped inside a descending price channel since the start of April, recently finding support at a short-term .618 Fib Retracement at $128.80.
With Solana heading lower, many analysts expect it to continue until hitting $100.
Fortunately, other market analysis suggests that Solana could have already hit the local bottom.
Looking ahead, if the bears push back beneath $130 and penetrate below $128.80, the first level of support lies at $121.44. This is followed by $113.90 (.5 Fib), $110, $103.57, and $100.00.
On the other hand, resistance lies at the upper angle of the price channel—around $150. This is followed by $160, $165, $180, and $200.
Ethereum Finds Solid .382 Fib Support – Will it Hold?
Ethereum also struggles after falling 13% this week, causing it to break beneath a shallow-rising price channel.
Fortunately, Ethereum found support at a .382 Fib Retracement at $2,865 earlier in the week and bounced from the support again today – allowing it to reclaim ground above $3,000;
Looking ahead, if the sellers break the $2,865 support, added support lies at $2,760 (September 2021 low-day closing price), $2,620 (downside 1.414 Fib Extension), $2,483 (.5 Fib), and $2,400.
On the other side, resistance lies at $3,200, $3,340, $3,430, and $3,560.
Where Are Traders Putting Their Money During the Downturn?
While the market sinks, traders are looking elsewhere to park their cash. In particular, investors are investing in presales again as their closed fundraising mechanisms help to mitigate downside risks during the lag time between investing and launching.
One presale turning heads this week is $99BTC – the native token behind the legendary 99Bitcoin education platform.
Investors are rushing to position themselves as early adopters due to the 99Bitcoin’s colossal audience, BRC-20 token standard utility, and learn-to-earn mechanism.
Learn-to-Earn Pioneer 99Bitcoins Raises $500K During Market Wipeout
99Bitcoins recently announced its $99BTC presale to bring about its learn-to-earn vision, and investors have backed it with their cash.
The project has raised a staggering $500K in under a week from going live, demonstrating the building hype behind the learn-to-earn platform and the BRC-20 token standard.
99Bitcoins has been providing the crypto world with high-level education for over a decade. Its vast audience includes over 700,000 YouTube subscribers and 2 million registered users for its courses.
The project intends to use its versatile educational resource to pioneer the learn-to-earn movement, allowing those completing its courses to earn crypto rewards in $99BTC.
With over 79 hours of courses on its platform, students can earn their first crypto in $99BTC and use it as a gateway to the blockchain industry.
The learn-to-earn platform doubles down on 99Bitcoin’s commitment to education and will help serve the millions of new users expected to enter during the 2024 Bitcoin bull market.
Furthermore, 99Bitcoins is taking its $99BTC token one step further by utilizing the BRC-20 token standard, which allows developers to build smart contract platforms on top of Bitcoin.
Overall, $99BTC is setting the foundations for a bright future. With an established reputation, a learn-to-earn platform, and a pioneering effort for the newly emerging BRC-20 token standard, $99BTC is set for explosive growth during this year’s bull run.
The $99BTC token can be purchased through the presale on the project’s website using ETH, USDT, or a debit/credit card.