The Seesaw protocol has been one of the worst-performing projects in the crypto markets for the past few months. Although it is still in the presale phase, the crypto was trading at $0.45 in April. However, the past few months have seen its prices drop to the current price of $0.001116, a 99.7 per cent price drop in under three months.
What is going on with the Seesaw Protocol?
The cryptocurrency industry has faced myriad challenges in the past few months. This has included a cryptocurrency crash, a strong industry-wide bear market, the total collapse of Terra Luna and UST, and a tough economy to invest in the cryptocurrency industry. The combination of all these factors has resulted in most cryptocurrencies losing aggressively in the markets. However, some have taken a heavier hit from the cryptocurrency industry’s bear markets than others, and the Seesaw protocol has been one of them.
In April, when the protocol was being offered in presale, there was a lot of optimism that the project would continue its growth throughout the year. Naturally, many investors were willing to pay a king’s ransom to get their hands on the project.
Fast forward to May, and the entire cryptocurrency industry started to aggressively move downwards. Investors, still reeling from what had happened to Luna and UST, began selling cryptocurrencies they deemed vulnerable to the fates of Luna and UST, resulting in the start of an aggressive price drop for Seesaw.
Seesaw Price Prediction
In today’s trading session, the Seesaw project is up by 9 per cent. The project has also been aggressively bullish throughout the week. Unfortunately, the trading is still in presale. Therefore, there are not many platforms offering the SSW token. As a result, the charts of the project are also limited.
However, for a project that has lost 99 per cent of its value in the past few months, the recovery to its previous level is close to zero. Therefore, my long-term outlook for the Seesaw protocol is a continued trade to the downside.