Nick Dunn, Author at The Tech Report

Sponge V2 is a community-based cryptocurrency that started as a memecoin but has become a utility-based token. Version 1 of the Sponge project officially ended on February 5, and all holders are now in the Sponge V2 community.

Remarkably, Sponge V2 introduces a weekly Play-to-Earn (P2E) game that gives users a fun-filled way of earning rewards. This game comes in free and premium modes, and users can earn SPONGEV2 tokens directly from gameplay.

Each SPONGEV2 token is currently worth $0,000709, already higher than the version 1 launch price of $0.000025. Also, over 5.63 billion tokens have been staked, preserving the long-term value of the ecosystem.

Sponge V2 is hosted on the Polygon network, which makes it well-positioned for success.

What are experts saying about Sponge V2?

Experts continue to give positive reviews about the Sponge V2 tokens. According to analyst and vlogger Jacob Crypto Bury, SPONGEV2 will hopefully rally soon.

$SPONGE is getting ready to hopefully catapult!!! Why this can potentially 50X? Well…#SPONGE currently has a $23m market capital $MYRO, $PORK, $BONK, etc all went from a $20-25m market capital up to $250m+ each once they get listed on more TIER 1 CEX's.

Sponge…

— Jacob Crypto Bury (@BuryCrypto) February 5, 2024

Bury notes that SPONGE has a $23 million market cap and mentioned some projects that rose from a similar market cap after listing on top exchanges. So, SPONGEV2 provides a second chance for investors who missed out on the Sponge V1 rally after its listing.

Conclusion

Prices are relatively stable in the crypto market today as investors transition into an accumulation phase. The top gainers today all record impressive developments within their ecosystems.

These developments attract investors who accumulate the tokens and remain optimistic about increased value.

However, uncertainty is a constant factor in the crypto market due to price volatility. Therefore, investors must carefully manage risk exposure to avoid massive losses.

Overall, the positive sentiment in February could likely lead to a more improved price performance in the coming days.

The post Top Crypto Gainers on 6 February – ENS, OP, and IMX appeared first on The Tech Report.

Bitcoin Consolidates Around $43,000 as ETF Buzz Quiets Down – Will It Reach $100,000 After Halving?

Nick Dunn — Tue, 06 Feb 2024 03:30:46 +0000

The flagship cryptocurrency, Bitcoin, has been grappling with bearish pressure following the ETF-engineered rally in early January. However, despite the depressing short-term outlook, many believe BTC could hit $100,000 after the upcoming Bitcoin halving.

BTC trades at $43,100 with a 2% price increase in the last seven days. As the speculations remain, the following analysis will provide insights into Bitcoin’s possible trajectory in the coming days.

Bitcoin Halving: Will BTC Price Skyrocket?

The Bitcoin halving, an event that happens every four years where Bitcoin block reward is slashed by half, is expected in April 2024. Historically, past halving events have preceded big rallies in Bitcoin’s price. For example 2012, the mining reward dropped from 50 BTC to 25 BTC per block.

By late 2013, Bitcoin’s price surged to over $1,000, a massive increase from pre-halving prices below $12. Similarly, the 2016 halving reduced the reward from 25 BTC to 12.5 BTC.

By late 2017, Bitcoin skyrocketed to around $19,000 from less than $1,000 before the halving.

Many experts predict the upcoming halving will also drive up Bitcoin’s price. These past trends indicate Bitcoin could reach a new all-time high in the months following the 2024 halving.

Moreover, the upcoming halving will cut miners’ rewards from 6.25 to 3.125 BTC, a feat that will reduce the influx of new coins, intensifying the forces of demand and supply to drive up prices.

Based on this sentiment and previous trends, many traders expect the price to exceed $100,000. Already, many investors have started accumulating Bitcoin, awaiting the next big rally.

On February 4, Whale Alert, a crypto tracking platform, reported the movement of 1,400 BTC, worth over $60 million, from Coinbase to an Unknown wallet.

Another transfer of 737 BTC worth approximately 31.5 million from Kraken to Bitfinex occurred on February 5. The movement of these large amounts of Bitcoin could indicate high demand as investors store up coins in anticipation of a more significant rally in the coming weeks.

It will likely generate upward pressure to trigger a short-term rally on Bitcoin in the next few days.

Bitcoin Price Analysis: Bitcoin Price Shows Bullish Momentum

BTC recorded a bullish rally this year, climbing from $38,700 to $49,000 on January 11, making over a 13% increase. Since that jump, the price has stayed within the $42,000 and $43,000 range.

Currently, Bitcoin is trading above the simple moving average line, indicating that some bullish activity remains in the market. Just below this moving middle line is strong support at $40,200.

This support level should keep the price from falling if the bulls were to lose control. But looking at the chart, that doesn’t seem likely anytime soon. Additionally, the MACD indicator is above its signal line, meaning bullish momentum currently outweighs the bearish pressure.

Overall, Bitcoin’s chart suggests the uptrend remains intact. The price is above critical support around $40,200, and the MACD shows bulls are in charge.

The upward trajectory should continue as Bitcoin stays above the moving average line and support level. But failure to hold $40,200 could signal a bearish reversal.

Traders hope BTC’s price will increase significantly to usher in a potential bull run as the following halving approaches. But while the ongoing excitement around BTC continues, traders are also paying attention to the eagerly awaited launch of Sponge V2 (SPONGEV2), which promises significant returns.

Bitcoin Alternative: Sponge V2 – The Next Big Meme Coin to Explode in Value

Early Sponge V2 investors hope to earn significant returns for the upcoming launch of Sponge V2, the upgraded version of the popular Sponge coin (SPONGE) that made waves in May last year.

Shortly after its launch in 2023, SPONGE V2 hit a $100 million market cap, surprising investors with impressive gains.

SPONGE had over 13,000 unique wallet holders at its peak. It still has a big following on Twitter and other social media. The upgraded SPONGEV2 token aims to add more utility to Sponge and consolidate the previous success to dominate the meme coin ecosystem.

Happy Friday, #SPONGERS!

Remember to transition your #SPONGE V1 now before it gets discontinued on the 5th of February.

We strongly advise all holders to withdraw their $SPONGE from centralised exchanges and stake them on our website as soon as possible. pic.twitter.com/Zy3AEHtknZ

— $SPONGE (@spongeoneth) February 2, 2024

It introduced staking rewards and play-to-earn features to attract new users and sustain the ecosystem. Current SPONGE holders can switch their tokens to SPONGEV2 by staking their coins on the official Sponge website.

According to the official site, this switching ends today, February 5, 2024.

Users who stake their SPONGE coin can earn staking rewards of up to 290% APY annually. Once SPONGEV2 launches, the old SPONGE token will be discontinued. Its value is expected to be fully transferred to the new version.

This transition encourages current and new investors to join the SPONGEV2 ecosystem.

After the 100x price surge of the first version, analysts remain bullish on Sponge V2’s potential. Given the renewed interest in meme coins, Sponge V2 could gain massive exposure and investor interest when it launches, a move that will skyrocket its price.

You can buy the token for as low as $0.000530 by swapping USDT or ETH on the official presale website.

The post Bitcoin Consolidates Around $43,000 as ETF Buzz Quiets Down – Will It Reach $100,000 After Halving? appeared first on The Tech Report.

Top Crypto Gainers on 5 February – RON and PENDLE

Nick Dunn — Tue, 06 Feb 2024 00:36:20 +0000

The crypto market has found stability in the last few days as buyers dominate. The current investor sentiment is greed, which confirms an ongoing accumulation phase. However, Bitcoin is trading below $43,00 today.

One reason for the decline might be the US Department of Energy’s (DOE) close monitoring of Bitcoin mining energy consumption.

Also, the declining adoption of Bitcoin Spot ETFs is another possible cause for a decline as investors conduct more detailed research. Nevertheless, some altcoins show impressive gains today driven by strong community support and developments, emerging as the top gainers.

More of these altcoin price analyses and ecosystem developments are detailed below.

Ronin (RON) – The Ethereum-Based Sidechain for Gaming

RON has posted impressive figures in the last 24 hours, trading at $3.48 with a 15.4% increase in the previous 24 hours. Also, it has gained 35.4% in the last seven days, confirming bullish solid pressure for the asset.

RON is approaching its all-time value of $4.29, confirming that more buyers are accumulating the tokens.

With the rapid growth in the crypto gaming sector, RON’s rising profile is likely due to its utility in gaming.

A key question in web3 gaming is how to use incentives to bootstrap attention for a product that will naturally retain users via game immersion and the social relationships formed around the game.

It's with this question in mind that we look at the data from @pixels_online post… pic.twitter.com/TjhS29kff8

— Jihoz.ron (@Jihoz_Axie) February 3, 2024

Ronin Network has over 870,000 active users, with 98 million events hosted in the gaming ecosystem last month. Also, over 706,000 new users were recorded in the previous 30 days, showing massive interest in the ecosystem.

Furthermore, the Ronin Wallet is handy for storing crypto assets. So, users can add custom networks and enjoy access to dApps on mobile or use a browser extension.

As a result of all these developments, RON shows a solid bullish pattern on the daily chart as investors accumulate the tokens.

RON Buyers Begin to Take Profit, Is the Rally Over?

RON has formed a bearish engulfing pattern on the daily chart, posting a large red candle as the buyers begin to take profit. The altcoin rallied between January 30 and February 4, forming higher highs on the daily chart as buying pressure increased.

However, the sellers at the $3.32 resistance level are forcing RON’s price down to the $2.71 support level. If this support level fails to hold, further price decline is expected.

Also, RON is dropping to the median band of the Donchian Channel, confirming a decline in buying pressure.

A drop below this band will confirm that the sellers are in control. Furthermore, the Relative Strength Index (RSI) indicator is in the neutral zone with a value of 59.53.

As such, Ron will likely retreat to rest on the $2.71 support level that can act as a price pivot for its recovery.

So, expect a price retreat in the coming days before the next accumulation phase resumes the rally. However, these movements can change, given the volatile nature of the crypto market.

Pendle (PENDLE) – The Yield Finance Platform

Pendle’s performance in the last 24 hours today, February 5, puts it on the list of top gainers in the crypto market. The coin is trading for $3.05 as of 9:02 am EST with a gain of 3.92%.

Also, its trading volume is up by 105%, above $88 million within the same period.

One factor that could be driving this growth is the positive sentiments and excitement garnered around the project’s developments. In a tweet on the X platform, the network team assumed they could have hit massive milestones like becoming the third largest behind Puffer_Finance and Ether_fi, etc.

If Pendle were an #LRT protocol…

$327.8M TVL (excluding non-LRT pools)
Good for 3rd largest behind @ether_fi and @puffer_finance

But we're not.

Instead, we're a complimentary #LRTfi platform, one that can help both the space and other protocols to grow. Every dollar… pic.twitter.com/WgbeBZwwhX

— Pendle (@pendle_fi) February 5, 2024

However, Pendle is a complimentary LRTfi platform that can simply help the space, as well as other protocols, to grow. Nevertheless, they can give their partners massive perks like boosted yields, growth, liquidity, etc.

As such, Pendle remains a revolutionary protocol for future yield trading and tokenization.

PENDLE is Facing a Short and Long-Term Bullish Market Trend – Where’s the Possible Resistance?

Pendle is trading above its 50-day and 200-day Simple Moving Average (SMA), implying a short and long-term bullish market trend. As such, the coin’s price is expected to make more series of higher and lower highs in the long run.

Also, the price action has formed an engulfing green candle stick along with other series of green candles, indicating increased buying activities in the market. Additionally, its Relative Strength Index (RSI) is in the overbought market region (above 70), showing strong bullish momentum for Pendle’s price.

For this reason, the coin will likely rally in the coming days, approaching the $3.2 high and potentially the $3.5 mark. However, investors must note that the RSI is moving sideways. This move hints at the potential for a dip in buyers’ momentum.

If buyers can’t uphold their strength in the market, the RSI will go neutral, potentially plunging to the oversold region (below 30). Notwithstanding, the market looks positive and could reward traders with enticing gains in the long run.

Nevertheless, adopting adequate risk management practices and using strategic trade setups to make the most of your investment decisions is always advisable.

Sponge V2 – The Fun Crypto Gaming and Staking Community

SPONGEV2 entered the crypto market with promises of additional utility and higher targets. This second version of the popular meme coin $SPONGE introduces a Play-to-Earn (P2E) game with free and premium modes available. Users can earn tokens directly by engaging with the game.

Meanwhile, SPONGEV2 developers announced a significant update concerning the migration from V1 to V2.

Today is your last chance to stake your $SPONGE V1 tokens before the transition to #SPONGE V2!

Deadline: 5th February 11 PM UTC

If you do not stake your $SPONGE tokens you will not recieve any #SPONGEV2.#MemeCoin #Presale #Web3 #Crypto #Binance #Altcoins pic.twitter.com/IUSHYrv014

— $SPONGE (@spongeoneth) February 5, 2024

Important Update for $SPONGE Holders

Important information

Our V1 Snapshot will be taken on the 5th of February at 11pm UTC, $SPONGE V1 will then immediately be discontinued.

Follow this thread to migrate your Decentralised and Centralised tokens to V2 before it's too late!

1/4 pic.twitter.com/qPSTIX6dNT

— $SPONGE (@spongeoneth) February 2, 2024

According to the Sponge development team, the V1 Snapshot will occur today, February 5, by 11 pm UTC. Once the snapshot is taken, Sponge V1 will be discontinued, and all tokens not migrated to new staking pools will be lost.

Those who hold $SPNGE tokens on centralized exchanges must withdraw and stake their tokens before the deadline.

This will enable them to gain more tokens as staking rewards. Additionally, centralized holders who do not stake are entitled to a swap with a ratio of 1:1 for the SPONGEV2 tokens.

Consequently, centralized deposits, withdrawals, and trading were suspended from February 4.

When Version 2 token claims begin, the CEX tokens will be swapped for V2 tokens, and then trading, withdrawals, and deposits will continue at the previous V1 price. Also, Decentralized holders must stake their tokens before the snapshot deadline. Staking enables them to earn extra tokens as rewards.

All stakers can claim their V2 tokens when the presale ends and claiming goes live on the website. However, those who do not have a stake can claim SPONGEV2 at a ratio of 1:1.

Overall, SPONGEV2 is set for success and enjoys a massive following from the crypto community.

Meme Kombat (MK) – The Battle Ground for Crypto Rewards

Meme Kombat (MK) is an exhilarating crypto project racing to achieve an impressive $10 million hard cap. Remarkably, it has secured over $8.1 million already from early investors.

Meme Kombat blends the fun side of meme culture and decentralized gaming, creating an exciting space for community rewards.

We did it memers!

The $8 million milestone has been smashed pic.twitter.com/QZMpfjHSgv

— Meme Kombat (@Meme_Kombat) February 2, 2024

Users can battle epic characters like Pepe the Frog and win exciting rewards. So, Meme Kombat is attracting numerous investors due to the long-term potential of the project and its features.

Also, $MK token holders can participate in legendary meme battles by placing bets on their favorite characters.

If the character selected is victorious in battle, you reap the rewards. Also, Meme Kombat introduces an intriguing twist by adding wagers to make gameplay more exciting and rewarding for those who love to gamble.

Growth Potential and Drivers for Surge in the Future

Meme Kombat presale is a straightforward process. Each MK token is worth $0.279 at this presale stage, coming a long way since the project began. This rate will be maintained until the $10 million milestone is reached.

So now that we have passed $8m in the presale, we look to the future.

We continue to put hours and hours into development of the game and, despite a few delays, want to assure you that we are here and still pushing to create something fun and engaging

We now push to our final… pic.twitter.com/wImg83v8lv

— Meme Kombat (@Meme_Kombat) February 4, 2024

Also, the Meme Kombat project will kick off Season 1 with 11 characters, and more development and features will come in Season 2. Additionally, Meme Kombat’s foresight in incorporating NFTs into the platform makes a project for now and the future.

These Meme Kombat NFTs will add utility to the ecosystem and attract NFT lovers to invest in the project. Also, the NFT integration adds an extra layer of excitement for investors, giving them opportunities to experience the thrills of gaming.

Meanwhile, Staking is a vital part of Meme Kombat’s operations. Staking allows token holders to earn an impressive Annual Percentage Yield (APY) of 115%. Over 34 million MK tokens are already locked in by stakeholders, and $7.5 million worth of stake rewards are distributed.

So, investors can easily buy these tokens from the official Meme Kombat using their preferred payment method in crypto after connecting to a secure wallet.

If a bull run occurs in 2024, then MK will likely be one of the tokens to post an impressive rally based on strong community support.

Conclusion

Prices are more positive in the crypto market as another accumulation phase begins. Bitcoin shows slight improvements but has not returned to its post-ETF price level above $45,000.

Nevertheless, investors have turned their attention to altcoins that are pretty affordable and yield exciting rewards.

Also, investors take advantage of presale tokens, hoping to catch an upswing in prices after the token lists on exchanges. If the positive sentiment persists, the general market cap will likely increase to $1.8 trillion in the coming days.

Despite the improvement in the crypto market, proper risk management is still important due to price volatility.

The post Top Crypto Gainers on 5 February – RON and PENDLE appeared first on The Tech Report.

Chainlink Price Prediction: LINK Price Surges as Crypto Market Recovers – Bulls Target $20

Nick Dunn — Sat, 03 Feb 2024 04:59:28 +0000

Chainlink’s price is booming, rising by over 25% in the last week. Due to its performance, Chainlink is outshining the overall crypto market, which is up by 2.3%. As of 8:29 a.m. EST, LINK is trading at $17.82, showing its strength among alternative coins.

Bullish investors are eyeing a significant $20 target. The surge is a positive sign for Chainlink, the top Oracle network on the blockchain. This performance indicates a strong recovery in the crypto market.

As such, investors are optimistic about LINK’s potential for further growth.

Renewed Interest: Chainlink’s On-Chain Activity Shows Investors Are Paying Attention Again, Will This Affect its Price?

Experts say the rally has some clear reasons. The data provider, Santiment, found more action from wallets that were quiet before. This hints that investors are getting interested again.

Notably, Santiment used a metric called “Age Consumed” to show investors’ renewed interest in LINK.

network's circulation has likely contributed to the price jump. Additionally, the network had seen minor liquidations of wallets, which is often a sign of #FUD that can contribute to further price rises.

(Cont)

— Santiment (@santimentfeed) February 1, 2024

The metric counts how many days coins stayed still before moving. For Chainlink, this number skyrocketed to 5.38 billion – the highest it has ever reached.

This means more people who haven’t moved their coins for a long time are now active, showing a new wave of interest in Chainlink. Further, Santiment’s info shows that some wallets sold a bit of their stuff.

This usually happens when people are unsure or worried. Even though this can make prices jump up and down quickly, it could be a chance for smart investors to buy in. Also, there’s news that big investors are gathering more Chainlink.

This accumulation adds to the positive feelings in the market, making people think prices will go up.

Crypto Analyst Shared Positive View About Chainlink

In the past 24 hours, prominent crypto analyst Michael Van De Poppe has shown interest in Chainlink (LINK). Earlier yesterday (4:42 PM Feb 1, 2024), the crypto analyst identified a “higher low” on $LINK. This indicates a positive trend in its price movement.

In technical analysis, “higher low” refers to a situation where, during a series of price fluctuations, each low point is higher than the previous one. Further, Michael van de Poppe hinted that LINK could break out from its present level. Should this occur, he predicts LINK to reach a high of $25-$30 in the coming days.

Note that the analyst backed up his analysis with LINK’s chart. Also, the analyst expressed a positive outlook and anticipation for the Chainlink ($LINK) in another tweet.

Good morning,$LINK starting up a new run is a good vibe.

This bull market is likely going to be more impactful than the previous one.

Let’s get it!

— Michaël van de Poppe (@CryptoMichNL) February 2, 2024

According to him, Chainlink starting a new upward movement (a “run”) is a good optimistic feeling. He added that the bull run will have more impact compared to the previous one. Meanwhile, the daily chart below will provide more insight into the next possible direction of the LINK token.

Chainlink Price Surge: Key Support at $12.9, Potential Pullback Ahead

Chainlink’s LINK coin has recently been on a huge increase, pushing its price above the Bollinger Bands indicator. This shows extremely positive sentiment. However, based on price analysis, LINK may need to drop slightly to fill some open buy orders and balance out the market.

The MACD indicator is also signaling bullishness. It is above the signal line, and the histogram bars show green candles. LINK looks bullish but may see a minor pullback before continuing its uptrend.

The parabolic rise led to overbought conditions that need balancing out.

Some buyers probably have open orders waiting at lower prices. This will pull the market down. But even though the bearish forces take over, there is support around the $12.928 region, which could prevent further drops. In all, Chainlink remains in an uptrend, but a minor pullback looks possible in the short term.

If MACD stays positive, the bullish sentiment should persist. But failure at $12.9 would signal a bearish reversal. So, traders are advised to trade with extreme caution. The good news is that other alternatives, such as Sponge V2, exist to increase investors’ chances of making short-term profits.

LINK Alternative to Consider: Sponge V2

People are talking a lot about the Sponge token ($SPONGE) because its value went up a lot in December and January. The reason for this rise is that the Sponge team wants to connect the coin to Sponge V2, a newer and better meme coin that actually has practical uses.

Investors are thrilled about the upcoming launch of Sponge V2, and because of this excitement, more people want to buy the token.

Sponge V2 Launch: Could it Jump 100x Like Sponge V1 Did in 2024?

This new Sponge token aims to outdo the first one. This means that investors who missed the first now have another shot at big returns. The team introduced a cool Stake-to-Bridge model. If you have $SPONGE tokens, stake them to get $SPONGEV2 tokens later.

Newbies can buy it easily on the Sponge website using a card or swapping ETH or USDT tokens. Tokens you buy get staked automatically, letting you earn passive income at 245% APY.

Based on this, Sponge V2 has become very popular. In a few weeks, over $3.30 million of $SPONGE tokens were staked, totaling over 6.5 billion.

Note that, according to the team, the community has until February 5 (11 pm UTC) to transition their Sponge V1 to the new one. To keep things fun, Sponge V2 also has a new Play-To-Earn racer game for players to earn $SPONGEV2 tokens as rewards.

To learn about this token, visit its official page or X platform to get an update.

Happy Friday, #SPONGERS!

Remember to transition your #SPONGE V1 now before it gets discontinued on the 5th of February.

We strongly advise all holders to withdraw their $SPONGE from centralised exchanges and stake them on our website as soon as possible. pic.twitter.com/Zy3AEHtknZ

— $SPONGE (@spongeoneth) February 2, 2024

The post Chainlink Price Prediction: LINK Price Surges as Crypto Market Recovers – Bulls Target $20 appeared first on The Tech Report.

Top Crypto Gainers on 2 February – LINK, IMX, and PENDLE

Nick Dunn — Sat, 03 Feb 2024 03:35:36 +0000

The crypto Prices have surged in the last 24 hours as the buyers enter into an aggressive accumulation phase. The total market cap has increased to $1.73 trillion, with a 2,5% increase in the last 24 hours.

Remarkably, Bitcoin once again exerts its dominance as its recovery has influenced the prices of altcoins positively. Binance’s launch of an Inscription Marketplace trading of BRC-20 tokens is likely supporting this recovery.

Also, crypto platform Celsius’ dramatic recovery from bankruptcy and repayment plan for investors might have influenced the market. As a result of these events, some coins have emerged as the top gainers today, also benefiting from their internal ecosystem developments.

Chainlink (LINK) – The Web3 Hub

Chainlink’s cryptocurrency, LINK, has surged by over 12% in the last 24 hours, reaching $18 for the first time since April 2022. An on-chain analysis provider, Santiment, observed a spike in activity in previously inactive Chainlink wallets, indicating renewed interest.

This influx of LINK back into circulation is seen as a contributing factor to the price increase.

#Chainlink has jumped ahead of the #altcoin pack after some previously dormant wallets created the highest Age Consumed spike (5.38B, calculated by multiplying coins moved by the amount of days those coins had been dormant). This influx of $LINK back into the

(Cont) pic.twitter.com/eHVpeJz2HW

— Santiment (@santimentfeed) February 1, 2024

The analysis suggests that, based on these on-chain trends indicating increased network usage and token circulation, LINK could potentially rebound to $20 and beyond. The recent surge in Chainlink’s LINK token is drawing attention as it outpaces other digital assets in the market.

Santiment’s analysis today highlights a significant increase in Age Consumed, indicating LINK moving after a period of dormancy. This uptick in circulation is believed to contribute to the rise in LINK’s price.

The token reached an intra-day peak of $18.13, and current trends suggest $28 as the next significant resistance point.

This rally has increased Chainlink’s profitability by 30% over seven days, pushing its market capitalization above $10 billion, surpassing Tron, and securing the twelfth rank by market value. The excitement in the market and Chainlink’s price movements are closely tied to its role in tokenizing real-world assets.

Chainlink Breaks Out of the Ranging Market – Is the Next Resistance Targeted?

In the chart above, LINK is on an overall bullish market trend as it trades above its 50-day and 200-day Simple Moving Average (SMA). This implies strong price growth momentum for the coin in the coming days.

Furthermore, it has broken out of the ranging trend, suggesting a break in market structure.

As such, an uptrend is likely to occur, with LINK trading towards the $19.5 resistance level. Moreover, the Relative Strength Index (RSI) is at 68.88, pointing upward. This shows the bulls are strong and driving the market to the overbought region.

If the buying pressure is upheld throughout the weekend, LINK’s RSI could go above 70.

However, if not, it could plunge to the neutral level or oversold zone (below 30). For now, LINK is trading above its dynamic support levels (50-day SMA).

If any pullback occurs, this level should trigger a bounce, as buyers may wait for the price to hit the discount level. If that happens, the coin could pump further, even above the $19.5 resistance, before the next week.

Immutable (IMX) – The NFT scaling Solution for Crypto Projects

Immutable (IMX) has recently made a significant move by launching its IMX Mainnet. This development is playing a key role in boosting the value of the Immutable token.

Immutable zkEVM Mainnet Early Access is live!

The future of gaming is here with the launch of Immutable zkEVM Mainnet, powered by @0xPolygon.

Immutable zkEVM is an ecosystem that empowers games to thrive. It offers massive scalability, smart contract compatibility, and gas-free… pic.twitter.com/zSrUOwnsQo

— Immutable (@Immutable) January 29, 2024

In a recent post on X, Immutable announced the extension of zkEVM’s mainnet access to selected gaming studios and partners.

zkEVM is an important achievement for Immutable as it brings new features to its ecosystem, reducing gas fees and making it more attractive for a larger audience interested in blockchain games developed on the IMX platform.

Since October 19, 2023, the price of Immutable (IMX) tokens has been consistently rising. It reached its peak on December 27th at $2.60. However, there was a correction, and by January 23rd, it had temporarily dropped to $1.70.

Fortunately, the token has since rebounded and is currently valued at $1.95 as of January 31.

The launch of the IMX Mainnet and the expanded access to zkEVM contribute to the positive momentum, as these developments enhance the overall ecosystem. Today at 9:34 am EST, the IMX coin is trading for $2.21, with an increase of 12.71 %.

Also, its trading volume is up by 101.68%, sitting above $129.9 million.

IMX Rallies Above 50-day SMA – Can This Become a Dynamic Support Level?

In the chart above, IMX has pumped, pushing its price above the 50-day Simple Moving Average, which could serve as dynamic support. If BUY orders increase at this rate, the coin’s price could continue upward, recording new higher highs in the coming days.

The long and healthy green candlestick formed today confirms the strong bullish momentum on IMX’s market. This is reflected in the Relative Strength Index (RSI) as it points upward from the 60.73 level.

If the rally continues, the RSI could enter the overbought region (above 70), but if not, it could drop to the neutral or potentially the oversold region (below 30).

However, IMX is still above its 200-day SMA, indicating an overall bullish market trend in the long term. As such, the coin will likely record more price gains before the coming week and before any significant pullback.

While these may play out as expected, it’s advisable to adopt ideal risk management practices and use strategic trade setups to profit from this market.

Pendle (PENDLE) – The Yield Protocol For Blockchain Finance

PENDLE has gained 13% in the last 24 hours as the buyers continue to uphold its price action this week. Also, PENDLE is up 19.6% on the weekly chart, with a positive start to February.

Remarkably, Pendle continues to set new records in the crypto scene due to massive investor interest.

Pendle achieved impressive all-time values for trading, with the recent record being $86.9 million daily trading volume.

Back-to-back ATHs for daily trading volume on @pendle_fi

We've just hit a new high, reaching $86.9 million in daily trading volume https://t.co/auoGeJRNEo pic.twitter.com/rd0TgKWb7h

— TN | Pendle (@tn_pendle) February 2, 2024

According to the developers, the upcoming $PENDLE V3 will enable margin trading and larger swaps with lower slippage. Also, the Pendle team will focus on asset tokenization and support for re-staking assets.

Pendle is shaping up to become a mega ecosystem, with more than $40 million yield daily.

Also, it records a trading volume of $569.41 million as the TVL is locked across all chains and supports the widest range of re-staked Ethereum assets. On the daily chart, PENDLE has formed a bullish pattern and will likely break above the trendline.

PENDLE Display Rising Wedge Pattern On Daily Chart, What Next For The Crypto?

PENDLE has formed a rising wedge pattern on the daily chart, teasing a break above the trendline, which is a bullish signal. It has formed a large green candle today after finding support at $2.53.

Also, PENDLE is testing the $2.88 resistance level, and a break above this level will likely send the asset to $3.

Additionally, PENDLE is close to the upper band of the Donchian Channel (DC), displaying a strong bullish signal. Furthermore, the RSI indicator is at 68.84 and rising to the overbought region above 70.

This confirms that the buyers have entered an accumulation phase.

Therefore, PENDLE will likely break above the $2.88 price level in the coming days to enter the overbought region.

Sponge V2 (SPONGEV2) – The Memecoin Crypto With A Difference

>>>Visit Sponge V2 Presale<<<

SPONGE V2 relies on staking to preserve its value and reward holders. It returns with a fun Play-to-Earn (P2E) where participants can earn the tokens in the premium mode.

The massive interest in the ecosystem has attracted numerous investors, evident in the millions already staked. Interested investors aiming to be part of this success story should visit the website now to accumulate this token at an affordable entry price.

Sponge V2 Important Security Update

According to a post on X from the Sponge V2 team, Sponge V1 will be discontinued. This is because of a malicious attack on the token.

Important project update!

Due to a malicious attack on the Sponge V1 token, we’ll be moving all holders to Sponge V2 on the 5th of February at 11:00 PM UTC.

Please be aware the $SPONGE V1 will be discontinued.

We strongly advise all holders to withdraw their tokens from… pic.twitter.com/itZelxAL9V

— $SPONGE (@spongeoneth) January 31, 2024

Consequently, holders of Sponge V1 will be migrated to Sponge V2 on February 5 by 11:00 pm UTC. So, holders are advised to withdraw their $SPONGE tokens from centralized tokens and stake them through the Sponge official website.

The Sponge V1 will be stopped to limit the scope of the attack.

Also, the liquidity of the Sponge V1 will unlock on February 6 based on the original contract. Therefore, the Sponge V2 is working hard to move the V1 holders to V2 over the Polygon network.

This migration will enable the fully decentralized Play-to-Earn game and low transaction fees.

Additionally, exchanges have been mandated to suspend the trading of Sponge V1 on February 5. So, the $SPONGE token will become worthless to limit the access gained by hackers.

Nevertheless, staked SPONGE V1 tokens will migrate automatically. Also, DeFi users can stake their tokens in the new pool for the same APY now.

However, for those who don’t stake their tokens, a snapshot will be taken on February 5 at 11 pm UTC, and their tokens will be moved to a new V2 contract at 0% APY. Daily updates on events in the Sponge V2 ecosystem will be posted on Discord and Telegram.

Conclusion

The uptick in prices in the last 24 hours could signal a more positive trend in the coming weeks. However, with cryptocurrencies, volatility is constant, and proper risk management remains vital to prevent devastating losses.

Historically, a bull run often follows each Bitcoin halving, and the pattern will likely repeat in 2024. Nevertheless, investors must pay attention to external economic events that could also influence projections and prices for cryptocurrencies.

The post Top Crypto Gainers on 2 February – LINK, IMX, and PENDLE appeared first on The Tech Report.

XRP Coin Slumps Amid Online Exploit News – Can It Regain Momentum for a Pump?

Nick Dunn — Fri, 02 Feb 2024 05:06:42 +0000

XRP remains one of the most trending crypto assets in the market thanks to its utility, advancements, and even challenges. Its partial victory against the US Securities and Exchange Commission last year led to a massive pump and more visibility as of 2023.

However, the recent news of a successful hack that led to the theft of many XRP coins is driving a negative market trend. The confusion and fear in the coin’s community and the crypto market hint at a further loss in the coin’s value.

If investors withdraw to avoid being a victim in the future, XRP could fall drastically. Notably, it’s confirmed that the hack occurred only against the network’s co-founder and not XRP itself. However, can XRP regain momentum for a pump in the long run?

XRP Records Loss Chain After 1-Year 21% Gain – More Losses Ahead or A Rebound?

The Coingecko platform recently shared data showing that XRP gained about 21.7% in the past year, which was good news for 2023. However, more recently, XRP has faced some losses.

It went down by 22.3% in the last 30 days, 12.5% in the past 14 days, and 3.9% in the previous week. Today, February 1, it is further down by 2.5%, sitting at $0.4938 as of 7:28 am EST.

Its trading volume dropped by 25.61% during this time, reaching over $1.33 billion. This represents the pause in the trading XRP due to the threatening news in the market.

However, given the up-and-down nature of the market, XRP could regain its momentum after the current downward phase.

XRP Co-Founder Loses $112,000,000 of XRP Coin to Hackers Triggering a Downtrend

On January 30, hackers successfully stole approximately $112 million worth of XRP, Ripple Lab’s coin. This amount of coin stolen was from the wallet of the lab’s co-founder and executive chairman, Chris Larsen.

Larsen instantly disclosed the incident on X (formerly Twitter), stating that there was unauthorized access to his personal XRP accounts, not Ripple’s.

Yesterday, there was unauthorized access to a few of my personal XRP accounts (not @Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved. https://t.co/T3HtKSlzLg

— Chris Larsen (@chrislarsensf) January 31, 2024

The team quickly addressed the issue by notifying exchanges to freeze the affected addresses. Also, law enforcement is now involved.

The news about the hack was first reported by well-known crypto security researcher ZachXBT, who mentioned that the stolen XRP funds had been laundered through various crypto exchanges.

They included Binance and Kraken. As a result, both Binance and Kraken are actively supporting the investigation. Details surrounding the ownership of the hacked wallet remain unclear, as it may or may not belong to Ripple.

But the hacked wallet, named “Ripple (50),” was activated by a separate wallet, “~FundingWallet1,” on November 5, 2018, that traces back to Larsen’s account.

Ripple’s spokesperson, Stacey Ngo, clarified that the hack did not impact Ripple. Despite this, some XRP holders are urging co-founders to disclose their crypto wallets and XRP holdings for increased transparency.

Some voices, like “Thinking Crypto podcast host” Tony Edward, recommend that Larsen distance himself from Ripple.

This incident is noteworthy as the most significant cryptocurrency theft of 2024 and ranks as the twentieth-largest cryptocurrency theft in recorded history, according to data collected by Rekt,

The news has led to a 2.36% decline in XRP’s market capitalization, which is currently at $26.9 billion.

Death Cross Commences on XRP’s Daily Chart – More Dip Ahead!

XRP has formed three bearish candlesticks, indicating a plunge in today’s market value. It is trading below its 50-day and 200-day Simple Moving Average (SMA), indicating an overall bearish market in the short and long term.

Furthermore, the Relative Strength Index (RSI) is at 31.53, sliding toward the oversold region (below 30).

Given the overall market trend, it’s likely that XRP will hit the oversold market region (below 30) before the weekend. Therefore, it could lose more value in the coming days.

The appearance of the death cross on the chart further confirms the bearish trend in the coin’s market. As such, XRP could hit $0.45 in the long run.

XRP Falls Towards Support at $0.45 – Can It Hold or Continue Downward?

XRP coin is trading at $0.49680 with a support at $0.45874 and a resistance at $0.55560. considering the solid bearish momentum, the coin is expected to proceed toward the support level at the $0.45 mark.

At this level, the performance of buyers and the number of BUY orders will determine if the price will rally.

XRP could regain a few values from its massive loss if a rally occurs. However, considering the hesitations in the market due to the Ripple Lab’s co-founder hack, there could be little trading activities.

As a result, it could take longer before XRP approaches the resistance at the $0.5 mark.

While things turn out against expectations, it’s advisable to have adequate risk management strategies and strategic trade setups to make the most out of this volatile market.

Given the downtrend projected on XRP’s price, investors can grab this new revolutionary project early to be part of its momentous pumps in the future, Meme Kombat.

Ripple Coin Stumbles While Meme Kombat Makes Waves – XRP Alternative

Meme Kombat is gearing up to be the next big thing in meme coins, focusing on practical uses and opportunities for users to earn rewards. The ongoing presale has generated significant interest from potential investors, showcasing early enthusiasm for the project.

Our Telegram community has grown to over 9000 memebers

We are a strong community and only getting stronger each day! pic.twitter.com/MqOeiQyAra

— Meme Kombat (@Meme_Kombat) February 1, 2024

According to the whitepaper, Meme Kombat is all about utility, emphasizing features that cater to gamers and offer a unique blend of betting and staking options to enhance the usefulness of MK tokens.

The project has already raised over $7,717,893.90 out of the $8,000,000.00 target during the presale, with a maximum cap of $10 million.

Each MK token is currently available at $0.279 in the ongoing presale. Notably, 10% of the tokens are reserved for liquidity when listed on decentralized exchanges, underscoring Meme Kombat’s commitment to promoting decentralized trading.

The strategic integration of betting and staking features makes Meme Kombat an intriguing choice for users and investors.

You can join the project by purchasing $MK using ETH, BSC, or USDT.

The post XRP Coin Slumps Amid Online Exploit News – Can It Regain Momentum for a Pump? appeared first on The Tech Report.

Top Crypto Gainers on 31 January – LINK, RNDR, and RON

Nick Dunn — Thu, 01 Feb 2024 02:00:01 +0000

The crypto market cap value is slowly rising to approach $1.75 trillion due to an improvement in the prices of tokens. However, Bitcoin has retraced below $43,000 as some buyers seek to make a profit.

But despite BTC’s retracement today, some altcoins rank among the top gainers, posting impressive gains in the past 24 hours.

More details on their price and ecosystems are covered below.

Chainlink (LINK) – The Decentralized Oracle Network

LINK records slight gains in the past 24 hours as the buyers continue to accumulate it. On a longer time frame, LINK is up by 8.6% this week, mirroring the general improvement in the crypto market.

Remarkably, Chainlink developers announced that MUWPAY is joining the Chainlink BUILD program to gain access to quality Oracle services.

This development might be driving today’s slight gain.

#ChainlinkBUILD @muwpay is joining Chainlink BUILD to gain enhanced access to Chainlink's industry-leading oracle services and technical support.

In return, MUWPAY will make 3.5% of its total native token supply available to Chainlink service providers, including stakers.… pic.twitter.com/XJvqGGsxeW

— Chainlink (@chainlink) January 30, 2024

Based on the announcement, MUWPAY will make 3.5% of its native token supply available to Chainlink service providers and stakers. So, MUWPAY will become a part of BUILD and provide decentralized and affordable solutions for transfers in the DeFi market.

Additionally, MUWPAY will access Chainlink’s decentralized computing services and have access to new products on the blockchain.

Apart from the news above, the Chainlink Data Streams are live on GMX_IO and PancakeSwap with other exciting integrations. All these events have pushed LINK up as it displays a bullish pattern on the daily chart.

The buyers have continued to sustain the recovery rally.

LINK Testing the $15.76 Resistance level, Will The Bulls Prevail?

In the last 24 hours, LINK has entered into an uptrend, overcoming the decline between January 20 and 25. It shows a strong bullish trend on the daily chart and is now attempting to overcome its nearest resistance.

Notably, LINK overcame the $15.48 resistance level, flipping it to support, which aids its price gains today.

Currently, it is testing the $15.76 resistance, and a break above this level will send the asset back to $16. A closer look reveals that LINK is trading in the upper region of the Donchian Channel, confirming that the buyers are in an accumulation phase.

Also, the Relative Strength Index (RSI) indicator is rising from the neutral zone to the overbought region above 70. The RSI displays a value of 57.10 and will enter the overbought zone if LINK overcomes its nearest resistance.

So, LINK will likely break above the $15.76 price level in the coming days if the buyers maintain control.

Render Token (RNDR) – Ethereum-Based GPU Rendering Network

Render Token (RNDR) achieved a significant milestone as it secured the second spot among top-performing tokens, thanks to the news of its upcoming listing on Coinbase.

The renowned cryptocurrency exchange included Render (RNDR) in its roadmap to indicate future support for the digital asset.

Assets added to the roadmap today: Render (RENDER)https://t.co/rRB9d3hSr2

— Coinbase Assets (@CoinbaseAssets) January 30, 2024

This exciting update led to an instant 5% surge in RNDR’s price, reaching $4.81, plus a remarkable 70% increase in trading volume, as reported by CoinMarketCap

Although the specific timeline for the Coinbase listing remains undisclosed, the announcement had a profound impact on RNDR’s market performance.

The coin’s price exhibited a positive reaction, climbing up by 10% above the $4.80 mark. Subsequently, there was a slight retracement, with the current trading value settling around $4.63 at 6:56 am EST today.

RNDR Breaks Flag Pattern and Critical Resistance – What’s Next?

The Render token experienced a correction in late December 2023, dropping from $5.27 to $3.5 within a month. This decline coincided with the 38.2% Fibonacci retracement level.

Recently, with renewed buying interest in the crypto market, RNDR’s price has rebounded by 32% from the support, reaching $4.6.

The upward movement has surpassed the resistance trendline of the flag pattern on the chart, suggesting the end of the correction phase.

In an ideal bullish scenario, the breakout from the flag could lead to a rally, aiming for $5.3 and potentially reaching $7.2. But as cryptocurrencies are known for volatility, a dip could occur.

Meanwhile, RNDR is trading above its 50-day and 200-day SMA, which implies that the overall market trend is bullish in the short and long term. These moving averages also serve as dynamic support levels for the coin’s price.

Given the position of the 50-day SMA, buyers can flood the market as the next market move approaches this support level.

If that happens, then a strong rally could start, driving RNDR’s price up and further above. On the contrary, the RSI moving sideways at 61.31 level shows indecision and lack of control among the buyers and sellers.

If the number of buyers increases, the RSI will continue upward to the overbought region (above 70), but if sellers increase, the RSI will plunge toward the oversold zone (below 30).

Ronin (RON) – The Ethereum Gaming Chain

The surge in Ronin Network’s (RON) value can be attributed to strategic moves and a confluence of factors boosting its price.

Presently, investment firm Arca holds an impressive $4 million in RON following substantial transactions, including a recent transfer of 680 Ether (ETH) to the Ronin bridge, in addition to 200 ETH and $500,000 in USDC.

RON’s outstanding performance, marked by nearly 180% gains over the past year, has drawn the attention of investors. Insights from Nansen reveal a surge in monthly active addresses, reaching 1.3 million between November and December.

With their transfers over to @Ronin_Network, Arca sent the tokens to 0x5b7 to then accumulate $RON. This address now holds over $4.3M of the token

Arca has also received vesting unlocks from the Axie Infinity Strategic Sale in this wallet, and has withdrawn $7.8M from the bridge pic.twitter.com/hyupB1uNit

— Nansen (@nansen_ai) January 24, 2024

This positioned Ronin Network as the 7th blockchain with the most activity, showcasing a remarkable 193% growth during that period. Again, the revival of the gaming narrative, particularly fuelled by the popularity of Pixels Online, has been pivotal to this surge in activity.

Pixels, a ‘farming game,’ has attracted over 352,000 unique active wallets in the past 30 days, reflecting a 16% increase, as reported by DappRadar.

Furthermore, Edward Wilson from the Nansen research team talked about the potential of blockchain gaming and its play-to-earn (P2E) dynamics. According to Wilson, teams funded during the bullish cycles and continued with development when the market retraced.

Also, established teams are preparing exciting updates, promising improved user experiences. Therefore, the potential for further price increases for RON based on ecosystem developments is high.

The constant development of games and updates, combined with the adoption of play-to-earn dynamics, makes RON a special crypto project.

On the daily chart, RON re-tests old resistance levels as the buyers seek a breakthrough.

RON Sets Series of Higher Highs and Higher Lows – Can The Weak High Be Broken?

In the chart above, RON has formed a series of higher highs and higher lows in the last few days. This shows the market is trending and expected to hit new price levels in the coming days.

Additionally, the coin is trading above its 50-day and 200-day SMA, indicating an overall bullish market trend in the short and long term.

As such, RON could record up to a 5% gain before the weekends. Also, the coin is forming a green candle stick today, showing an increase in BUY trades. If the BUY trades remain significant and higher than SELL orders, then the price will close above the previous higher high indicated in the chart.

Moreover, RON’s RSI is pointing upward at the overbought market zone (above 70). This implies a strong momentum of the bulls in the market. If any dip occurs during a pullback move, RON’s Relative Strength Index could plunge to the neutral level or potentially to the oversold zone (below 30).

Given the market trend and signals in the chart above, RON is a profitable asset to consider. However, you must implement adequate risk management strategies and strategic trade setups to make the most of the market movement and price actions.

Sponge V2 (SPONGEV2) – The Community Token for Exciting Rewards

According to crypto analyst and YouTube vlogger Michael Wrubel, with over 300,000 followers, Sponge V2 is a token worth buying. Wrubel believes that this token can turn investors into millionaires in 2024.

He recalled the performance of $SPONGE after its original launch in 2023 when it did a 100X, reaching its all-time high value.

So, Wrubel is quite bullish on Sponge V2, expecting it to outperform its V1 based on utility and its strong community. The first version faced criticism as a memecoin based on limited use cases.

Version 2 will launch a Play-to-Earn (P2E) game where users can earn SPONGEV2 tokens as rewards. Users can play this game just for fun or participate in the paid version to earn tokens as rewards.

The higher a gamer is ranked on the leaderboard, the more rewards are unlocked. Sponge V2 has a large community across all social media channels, and its reliance on staking is vital to the long-term sustainability of the project.

Wrubel claims to have realized $100,000 from $SPONGE and hopes to buy the SPONGEV2 to make more profit.

Can Sponge V2 List On Top Exchanges Like Binance?

Tier-1 centralized exchange listing is one of the developers’ goals, according to the roadmap. Remarkably, the first version launched on exchanges such as Uniswap, LBANK, Gate.io, Bitget, and MEXC.

Now, its relaunch and a possible bull run in the crypto market might lead to a massive price increase for the token. Therefore, a Binance listing remains possible if more investors accumulate the token and the community continues supporting the project.

Sponge V2 Hits Staking Milestone Confirming Rising Interest from Buyers

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

Sponge V2 staking is ongoing, and new tokens purchased are automatically staked. There are over 6 billion $SPONGE tokens staked worth $3.95 million. These tokens will be bridged from the version 2 staking pool. Also, $SPONGE holders will receive equal Sponge V2 tokens.

Also, the staking rewards are impressive but will likely reduce as more tokens enter the pool. Therefore, investors must take advantage of the relatively low price of SPONGEV2 before a possible price increase when it is listed on exchanges.

Overall, Sponge V2 could succeed in 2024 if community support and team spirit prevail.

Conclusion

According to data from analytical firm Cryptoquant, Bitcoin short-term investors are dumping the token at a loss. Therefore, it could present a buying opportunity for the whales, leading to a sustained rally.

Despite the retracement, BTC will likely rally again based on new investor interest from its spot ETFs.

Also, a potential launch of Bitcoin ETFs in Hong Kong could increase demand and boost its price. Thailand’s Security and Exchange Commission (SEC) is also moving towards more crypto-friendly regulations.

Furthermore, the upcoming BTC halving will likely trigger a bull run in 2024, giving the crypto market a facelift.

However, there are no guarantees in the crypto market, and prices can dip anytime. So, investors must conduct careful research and apply proper risk management.

The post Top Crypto Gainers on 31 January – LINK, RNDR, and RON appeared first on The Tech Report.

DOGE Price Maintains Bullish Trendline – Will it Pump Further?

Nick Dunn — Thu, 01 Feb 2024 00:29:45 +0000

After a long week of volatility, Dogecoin is now positive. The top meme coin follows an upward trend and maintains strong support around the $0.0780 zone. Dogecoin has been on a bearish trend for a long time, and the bulls want to take control of the market.

Based on this, there’s a slight possibility that the coin could erase one zero before the next bull market.

This Dogecoin analysis will provide more insight into DOGE’s next potential move.

DOGE Shows Sign of Bullish Recovery; $0.1 Next Potential Stop?

Dogecoin’s value has been dropping since this year, with the chart revealing a downward trend since December. Despite this, Dogecoin has strong support from a dedicated community.

Dogecoin trades at around $0.08, a modest decrease of over 2% in the last 24 hours.

Although there’s a bullish vibe in the past week with a nearly 2% rise, the overall momentum remains sluggish. Over the last month, Dogecoin experienced a bearish trend, recording a decline of 12.6%.

However, based on the chart pattern below and market behavior, there’s a chance for a rebound.

As mentioned earlier, Dogecoin has been on a downward trend for a while. The price kept falling over the last month, trapped in a descending channel.

But the latest chart shows a new upward trendline forming, acting as a strong support to prevent the price from falling further.

If this new upward momentum continues, Dogecoin could start rising in price. But the buyers need to keep up the momentum to maintain this upward direction. This would restart the bullish ride that saw Dogecoin hit $0.10 last year.

However, the bears threaten to break below and extend the downtrend, and It is uncertain which direction the price will go next if this happens.

But one thing is sure: the downtrend will continue if the new support line breaks, meaning more losses will happen for Dogecoin holders. Overall, Dogecoin now has the potential to bounce back if buyers can hold the new trendline support.

And if it successfully breaks out of this descending channel, it may rally over 21% of its current value.

On the other hand, if DOGE drops below the channel, it will likely decrease to $0.058, which is a 38% drop.

The MACD indicator is above the signal line, meaning momentum is currently on the upside, and the price may continue rising. But remember that crypto is highly volatile, and prices can go up and down very fast. So, trade with caution.

Billionaire Mark Cuban Reaffirms Dallas Maverick’s DOGE Support

In a recent Ask Me Anything session on X, billionaire Mark Cuban confirmed the NBA team’s (Dallas Mavericks) ongoing support for Dogecoin. When asked by the community, Cuban stated that the Mavericks still happily accept the meme-inspired cryptocurrency.

Yes

— Mark Cuban (@mcuban) January 29, 2024

Recall that in March 2021, the Mavericks let people use Dogecoin as a payment option to buy tickets and other team stuff for the first time in basketball history. Of course, it boosted investor’s confidence in digital currencies.

Reaffirming support from a high-profile figure like Mark Cuban might generate positive sentiment among Dogecoin investors. This could strengthen DOGE’s ongoing rally.

Other Potential Triggers of Dogecoin’s Bullish Recovery

Crypto analyst Muro Crypto hinted on X that if DOGE bounces from its support level again, it might break its resistance levels and could rise to $0.083.

In a previous X post, Muro said DOGE would go up, and it did before retracing halfway to the $0.083 target. So, Muro’s predictions can influence investor sentiment.

Update $DOGE

Spider senses were right it popped after my tweet but scammed back to entry from halfway to target, seems like it’s bouncing it might give another push https://t.co/OjCSqsOXMU pic.twitter.com/BPzGi7e0fI

— Muro (@MuroCrypto) January 28, 2024

DOGE’s price has ascended above $0.80 and may be getting ready to go up more. The ongoing speculations that Elon Musk’s X platform may adopt DOGE in its upcoming payment system is another factor boosting DOGE’s rally.

Moreover, Dogecoin activities have increased significantly.

The number of new addresses on the network surged by 1,100% in the past week. On January 29 alone, a record-breaking 247,240 new DOGE addresses were made.

This trend bodes well for DOGE if it continues because more people buying DOGE means higher demand, which could drive up prices.

SpongeV2 – Top Dogecoin Alternative Investors Should Consider in 2024

Sponge is launching an upgraded version called Sponge V2 at the start of the next crypto bull market. Sponge V2 introduces a play-to-earn (P2E) utility to the Sponge ecosystem.

Rather, it’s a new token gearing up for a big rally in 2024 with its latest plan and improved V2 features.

Sponge V2 is gearing up to surpass the $100 million market cap attained by its V1 in May 2023. Such a feat will mean massive returns to early investors should it come to fruition.

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

SpongeV2 provides staking opportunities to earn more tokens. You can join the project by buying and staking Sponge v2 tokens from the project’s official website or staking your existing SPONGE tokens.

Staking the coin can earn you a 250% APY return. Already bullish investors have staked over 6 billion tokens, and given the presale momentum, it might end soon. So, now is the best time to join to avoid missing out.

Remember, Sponge V2 is not associated with Nickelodeon’s SpongeBob SquarePants.

The post DOGE Price Maintains Bullish Trendline – Will it Pump Further? appeared first on The Tech Report.

Top Crypto Gainers on 30 January – PENDLE and SUI

Nick Dunn — Wed, 31 Jan 2024 00:12:04 +0000

The crypto market has transitioned into a positive phase as the market cap has increased to $1.74 trillion. Remarkably, Bitcoin has risen above the $43,000 price level, which is likely driving the price gains in the market.

This recovery is likely because Bitcoin whales accumulated $3 billion worth of BTC this month.

Also, the total number of wallets holding at least 1000 BTC increased by 76,000 BTC. Therefore, this accumulation will likely support the next rally in the crypto market. Furthermore, Invesco and Galaxy Asset Management lowered the fees of their spot Bitcoin ETF to $0.25% from $0.39 to attract more investors.

So, these positive developments have resulted in a rally among the altcoins in the past 24 hours. More facts about the top gainers are captured below.

Pendle (PENDLE) – The Financial Protocol

PENDLE is up by 20.1% in the last 24 hours, trading at $2.68. Also, it has gained 39.1% in the last seven days, confirming that the buyers are in control of its price action.

Pendle’s ecosystem is all about creating massive yields for investors. Impressively, progressive developments are ongoing in 2024 that are likely to boost PENDLE’s price.

Also, BitgetWallet and Pendle_fi are hosting a staking campaign to reward loyal users.

Stand a chance to win a share of $3,000 worth of $PENDLE with @BitgetWallet

Details below: https://t.co/WKp02BMvD9

— Pendle (@pendle_fi) January 29, 2024

Participants in this campaign stand a chance to earn a share of a $300 airdrop, earn 10.25% APY, and split daily additional $500 rewards.

To qualify, the users must stake in any pool in the Pendle staking dashboard in the Bitget Wallet, and the top ten speakers qualify for prices.

Meanwhile, Pendle_fi has some of the highest yields based on the massive increase in the yield trading volume, which exceeds $950 million. So, users can earn more than 30% fixed APY from the PENDLE pools.

Another factor driving the price increase for PENDLE is the rETH pool on the network crossed $50 million in TVL within four days on January 29.

Users can earn $ARB by filling their Limit Order on Pendle. According to the announcement on January 29, the total reward for the week is 10,000 ARB, and the pool will be refreshed each week.

So, yield traders will earn a share from the pool weekly, depending on their Limit Order Volume Contribution.

Furthermore, Pendle_fi partnered with Ondo Finance to create yield swaps for DeFi participants. They hope to achieve this by leveraging on tokenized cash equivalents.

As a result of all these developments, PENDLE displays a bullish recovery pattern on the daily chart as the buyers continue to accumulate the tokens.

PENDLE Approaching $2.70 Resistance Level, Will It Break Above?

PENDLE has snapped out of the descending chart pattern formed between January 26-28, forming a bullish recovery pattern on January 29.

Today, it has formed higher highs on the price chart and is attempting to break above the $2.70 resistance level. If PENDLE rallies above this level, $2.9 will become the next price target.

Also, PENDLE trades close to the upper band of the Donchian Channel (DC), confirming strong buying pressure for the asset. Additionally, the Relative Strength Index (RSI) is close to the overbought zone above 70, with a value of 69.09.

The RSI indicator is still rising, which means it will likely enter the overbought zone, confirming a strong bullish signal. So, PENDLE will likely break above the $2.70 resistance level in the coming days since the buyers are still accumulating the tokens.

SUI Token (SUI) – The Smart Contract L1 Platform

The Sui token has made an impressive comeback, reaching a new high of $1.63, marking a significant 52% weekly increase today, January 30. This is the highest point since May 3 of the previous year, as the price surged by an astounding 342% from its lowest point in 2023.

The rise of Sui can be attributed to its innovative structure and ecosystem fund. Its design enables fast transactions and reduces costs in comparison to similar networks such as Ethereum.

So, fast transactions and lower costs attract more users to the ecosystem.

Also, the recent announcement of Banxa’s expansion to the Sui network has aided SUI’s price gains. This expansion provides users with an easy way to acquire Sui tokens using Banxa’s on-ramp platform.

Meanwhile, Sui’s expanding Decentralized Finance (DeFi) ecosystem also makes it more attractive to investors.

Fiat on-ramps for Sui are coming thanks to @BanxaOfficial!

Banxa will be adding the SUI token to its platform and @Mysten_Labs’ Sui Wallet will give users the opportunity to purchase SUI tokens through Banxa’s on-ramp. https://t.co/1jIOMYjK7r

— Sui (@SuiNetwork) January 29, 2024

Sui’s ecosystem has a Total Value Locked (TVL) of over $443 million, making it rank among the top 10 DeFi networks globally.

Source: Defillama

Remarkably, Sui has outperformed top cryptocurrencies like PulseChain, Base, Cardano, Cronos, and Aptos. Also, Sui has surpassed the Cardano network, which has a market cap exceeding $17 billion.

Data from Defillama reveals 22 DeFi applications, with NAVI Protocol leading the pack as a liquidity provider with over $98 million in assets.

The NAVI Protocol is vital for lending and borrowing on the Sui network, contributing to its growth. With its innovative features, expanding ecosystem, and notable partnerships, Sui has captured the attention of investors worldwide, making it a promising asset in the days to come.

Today, January 30, SUI is bullish on the daily chart as the buyers continue to accumulate the tokens ahead of further price increases.

SUI Set to Enjoy Bullish Market Trend in the Short and Long Term – Where Could Resistance Occur?

The chart above represents a clear bullish market for SUI in the long run. It is trading above its 50-day and 200-day Simple Moving Average (SMA), which serves as dynamic support levels.

Again, it has formed two green consecutive candlesticks representing the massive BUY orders placed in the market in the last 2 days.

As a result, the Relative Strength Index (RSI) is at 68.37 and approaching the overbought market region (above 70). If the BUY orders remain significantly higher than SELL orders, then the RSI will enter the overbought region (above 70).

However, since crypto prices can fluctuate dramatically, the RSI could retrace to the neutral level at 50 or dive into the oversold region (below 30).

While this could happen, SUI is still very much bullish, so the chances for a dip are slim. The coin has a horizontal support level of $1.37, hinting at a significant demand zone for the coin.

If any pullback toward this level occurs, buyers could enter the market at such a zone to trigger a price bounce in no time.

Considering these positive signals for SUI’s market, it’s likely that the coin will hit new price levels in the coming days to weeks. Nevertheless, crypto traders must adopt adequate risk management strategies and devise smart trade setups to make the most of their trading decisions.

Sponge V2 (SPONGEV2) – The Crypto Revolution Season 2!

Sponge V2 is an exciting crypto project beyond a memecoin and comes with extra utility in its Play-to-Earn (P2E) game. Investors’ interest in the project continues to rise, as evidenced by over 6 billion tokens already staked.

Sponge V2 relies on staking to preserve its long-term value and control inflation within its ecosystem.

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

Following the launch of version 2, $SPONGE holders must bridge their tokens by transferring them to new staking pools to earn exciting rewards. After the staking period, users can claim their Sponge V2 tokens on the website.

Positive Reviews Of Sponge V2 Confirms Rising Popularity

Crypto analyst Connor Kennedy is bullish on Sponge V2, stating that there is more to come from the cryptocurrency in 2024. Also, analyst Jacob Crypto Bury shared a similar sentiment, describing the token as a 100X cryptocurrency.

Apart from the commendations, the introduction of the Play-to-Earn game will attract more users to the ecosystem since they can earn $SPONGEV2 as a reward for playing this game.

Exciting Roadmap and Tokenomics Hints at Sponge V2’s Vast Potentials

According to the roadmap, there are three main stages of development for the Sponge V2 ecosystem. The first stage features the staking of Sponge V2 tokens, buy-and-stake, game research, and liquidity.

Next, the second stage will feature SPONGEV2 token claims, listing on top exchanges, game development, and at least 10,000 token holders.

Finally, the third stage will focus on Tier-1 centralized exchange listings, the game app launch, and the race to a $100 million market cap. Also, more social dominance and liquidity from investors are the targets in this stage.

Overall, marketing and community are important aspects of this project.

Sponge V2 already has a strong community across social media channels and is poised to be the next memecoin success in 2024. Moreover, 43.09% of the total token supply of 150 billion tokens is reserved for staking rewards.

All these investor-centric provisions will likely push $SPONGEV2 higher in price gains.

Conclusion

Investor sentiment is largely positive in the crypto market today, with the crypto Fear and Greed Index displaying greed. This means that most investors are buying cryptocurrencies due to Bitcoin’s recovery. If BTC rallies above $45,000 in the coming weeks, an uptrend will likely begin in 2024.

But while BTC might be out of reach for most investors, they can diversify into other altcoins for profitable investment. Nevertheless, all investors must carefully consider the risks associated with crypto investments since they are volatile.

The post Top Crypto Gainers on 30 January – PENDLE and SUI appeared first on The Tech Report.

Cardano (ADA) Forms Green Candles – Are the Bulls Preparing for a Rally to $0.61?

Nick Dunn — Tue, 30 Jan 2024 23:14:15 +0000

Cardano (ADA) price is bullish today, January 30, 2024. Also, the chart shows more than 3 green daily candles have emerged. With this present pressure, it could reach $0.61 soon. Plus, big wallets are showing interest again, which could lead to further rallies.

The bulls, or buyers, seem to be preparing for a surge in Cardano’s value.

Cardano (ADA) Recent Price Performance

The price of the cryptocurrency ADA has been going down since December. It was in a descending channel, meaning the price kept falling lower over time.

The daily chart shows that there were some attempts to break out above the descending channel, but they failed due to strong selling pressure.

On January 9, the market switched direction for a bit. ADA rose back up to $0.60 temporarily. But slowly went down again after that. However, since January 26, the market seems to be gaining positive momentum. Technical indicators are signaling buying opportunities for ADA.

As of 7:25 am Eastern Time, ADA was trading for $0.49, which was over 8% increase in the past 24 hours. The trading volume was high at over $538 million, up by 79%.

This means a lot of buying and selling activity is happening. There is still hope for ADA to rise further in the coming weeks.

But it needs strong momentum to break the descending channel first.

ADA’s Recent Comeback: Signs Point to a Bullish Market

Based on the daily chart, ADA is above the middle simple moving average line on the Bollinger Bands indicator. The coin is heading towards the top of the Bollinger Bands next.

This shows the bulls are in control of the market right now. With the current upward momentum, ADA could soon reach $0.60.

That would be a 13% increase from its price today. The bulls need to keep buying to lift ADA to the target of $0.60. Looking at the MACD indicator, ADA is bullish. The MACD line is above the signal line right now.

And the histogram bars are printing green candles, which reflects the bullish momentum.

Overall, the technical analysis suggests ADA is very bullish currently. If it can break out above the descending channel pattern confirming the uptrend, ADA could surge higher.

But if the price hits the descending channel’s resistance, it risks losing its price again. So, the bulls must have enough strength to push through this resistance.

For now, $0.60 is the next target if bulls remain in control. But the descending channel remains a risk until ADA closes above it.

Cardano (ADA) Whales Reawaken During Price Dip, A Positive Sign?

Due to ADA’s drop below $0.5, more people with wallets holding at least 1 million ADA, which is worth about $550,000, are accumulating it. Whales tend to accumulate significant amounts of ADA in the $0.47 to $0.49 price range.

Data from IntotheBlock highlights a noteworthy shift during ADA’s dip below $0.5.

Whale transactions, which typically numbered 5,000, surged to 7,000. In just a few days, these substantial wallets gathered an impressive sum of over $14.34 million worth of Cardano.

Meanwhile, smaller retail investors opted to sell their holdings, driven by concerns that ADA might undergo further decline.

This recent trend indicates that despite market fluctuations, large investors see potential in Cardano at certain price points, leading to increased activity and accumulation.

Retail investors, on the other hand, may react more cautiously to price drops, choosing to sell in anticipation of further declines.

The good news is that while ADA threads on turbulent waters, a new coin, Sponge V2, might be the answer for small investors aiming to buy in at low prices.

Cardano Alternative – Sponge V2: Exciting Upgrades and Rewards for Investors

Sponge V2 is an exciting new crypto project attracting investors’ attention right now. Over 6 billion tokens are already staked in the project due to the many features the project offers investors.

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

The Play-to-Earn video game gives it extra utility, and the staking activities used in Sponge V2 to preserve value and control inflation speak continuity. Since many investors bought $SPONGE, they must now bridge their tokens to the new staking pools. This lets them earn rewards.

After staking, users can claim their Sponge V2 tokens on the website.

Sponge V2, Next 100X Memecoin to Move the Market

Crypto analysts are very bullish on the cryptocurrency Sponge V2 in 2024. Connor Kennedy and Jacob Crypto Bury both predict it could go up 100X. Sponge V2 is building on the success of Sponge V1, which reached a $100 million market cap.

The new Play-to-Earn game will also attract more users as they can earn $SPONGEV2 tokens.

Sponge V2 already has strong community support on social media. Memecoins like this rely on an active community. In all, analysts are very positive about Sponge V2 due to the V1’s success.

If the project stays on the ambitious roadmap, it could see massive growth in 2024.

Interested investors should rush now and accumulate the token at low prices before it becomes the next big memecoin. Notably, those who took a chance on Sponge V1 made some good profits when the price spiked.

The post Cardano (ADA) Forms Green Candles – Are the Bulls Preparing for a Rally to $0.61? appeared first on The Tech Report.

Ethereum (ETH) Consolidates at $2,270 – Will it Hold Strong During the Bearish Cycle?

Nick Dunn — Mon, 29 Jan 2024 23:59:34 +0000

Ethereum, the second largest cryptocurrency, consolidates around the $2,200 level, with a slight price decline in the past 24 hours. It seems the bulls dominate the market but with low momentum, which is evident in the rising green candlestick on today’s chart.

ETH is trading at $2,253 with a more than 1% 24-hour decline and a trading volume of over $6 billion.

Given the ongoing market setup, investors wonder what will happen to Ethereum (ETH) next.

New X Crypto Payment Cause Buzz in the Market: Will Ethereum Price React?

Elon Musk’s X (formerly Twitter) recently made a special account for future payments, stirring up talk in the crypto world. Crypto researchers, including Mason Versluis and others, speculate that the X app, set to launch payment services in mid-2024, might include XRP, Stellar, ETH, and BTC.

BREAKING: X creates a new "Payments" account on @xpayments!

BULLISH!

HOPING FOR A CRYPTO INTEGRATION ON THIS PLATFORM!

Make it happen Elon! $XRP $DOGE $BTC $ETH $XLM pic.twitter.com/kAmIMKKi3r

— MASON VERSLUIS (@MasonVersluis) January 20, 2024

Firstly, if the market speculation and increased support for Bitcoin create positive sentiment in the crypto market, it could also lead to a favourable atmosphere for Ethereum.

Integrating ETH on a popular platform like X exposes Ethereum to a broader audience. This means more people will interact with Ethereum, which could increase demand and interest.

In addition, joining a platform like X will attract more investors and businesses. This increased adoption could attract more users and investors to the Ethereum ecosystem.

However, even if the anticipations come to fruition, the impact of X’s crypto payment on Ethereum’s price is uncertain.

SEC Delays Decision on Ethereum ETFs: Potential Impact on Crypto Market

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale Investments’ request to turn its Ethereum trust into an ETF. This comes as the SEC also delayed a decision on BlackRock’s similar ETF proposal.

For context, an ETF tracks the digital asset’s market value, allowing investors to gain exposure without owning the actual currency. Earlier this month, the SEC’s approval of 11 bitcoin ETFs marked a significant moment for the crypto industry, triggering widespread gains for cryptocurrencies.

Bloomberg ETF analyst James Seyffart shared a depressing post on January 24 about the possibility of the SEC delaying the ETH spot ETF approval until May 23.

While this report cast doubts amongst investors, an approved spot in Ethereum ETF could undoubtedly lead to increased interest and investment in Ethereum, which could result in a price surge.

Ethereum Price Analysis: Crucial Levels and Patterns to Watch for Potential Price Moves

Ethereum recently established support around the $2,200 level after dropping from its year-high of over $2730 recorded earlier this year. ETH remains below its 50-day simple moving average line, which indicates a short-term bearish trend.

On the daily chart, Ethereum appears to form a symmetrical triangle pattern.

This is often a continuation pattern, suggesting the previous downtrend could resume. The lower boundary of the triangle, around $2,158, provides support, while the upper boundary, around $2,320 ac, is tinged as resistance.

A breakout or breakdown from this triangle pattern should signal the next significant price move.

The MACD is below the signal line, but the histogram bars are fading, indicating that the selling pressure is dropping. If Ethereum can break out above the triangle’s upper boundary and the 50-day SMA near $2,340, it would bullish the short-term outlook.

In that scenario, ETH may rally back toward the $2,700 and $3,200 resistance levels.

However, failure to break above the triangle resistance could lead to a breakdown and retest of support around $2,158.

In summary, Ethereum is at a critical juncture, so traders should watch for a decisive breakout above resistance or breakdown below support to signal the next significant price move. Maintaining the $2,158 support will be critical for the bulls to prevent further downside.

Ethereum Top Alternative: Sponge V2, The Next 10x Memecoin

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

Sponge is making a big comeback with its awesome new version, Sponge V2. With its new plan and improved features, $SPONGE is gearing up for a significant rally in 2024.

Sponge V2 introduces something cool called P2E Utility to the Sponge Ecosystem, poised to attract game lovers to crypto, a feat that could boost SPONGE’s demand and value.

Last year, investors who bought $SPONGE early went home with a massive 10x return after major exchanges like MEXC, Gate.io, and Poloniex accepted the Spongebob-themed coin.

Recall that, in May 2023, $SPONGE soared from $1 million to over $100 million in market value.

Sponge is out with a better and improved version, aiming for more wins than Sponge V1 in 2023. Users can stake their $SPONGE to earn the latest Sponge V2 token.

In addition, the team recently introduced a feature that locks V1 tokens in staking and helps reduce the number of tokens in circulation.

You can acquire this token by buying and staking your Sponge V1 token on the official website. Those who stake their SPONGE coins will earn more than 250% APY return.

Over 6 billion tokens have been staked on the platform, demonstrating high investor interest in the project.

The post Ethereum (ETH) Consolidates at $2,270 – Will it Hold Strong During the Bearish Cycle? appeared first on The Tech Report.

Top Crypto Gainers on 29 January – CFX, INJ, And FLR

Nick Dunn — Mon, 29 Jan 2024 23:05:01 +0000

The crypto market shows price volatility as investors shift sentiment from neutral to greed today. Some traders have entered an aggressive accumulation phase in anticipation of the next bull run.

This accumulation phase will likely increase the buying pressure in the market and result in another rally.

Remarkably, Bitcoin has found some stability above $42,000 as the buyers regain control of its price, readying for the next rally. Altcoins again dance in tune with Bitcoin, recovering in the last few days to record impressive gains.

Today’s top gainers are driven by positive investor sentiments and increased enthusiasm in their ecosystems.

Conflux (CFX)—The Home of dApps, E-commerce and Infrastructure

The Conflux (CFX) shows an impressive performance today, gaining 11.6% on its price to trade at $0.24, with an over 35% seven-day increase. Conflux Network unveiled the BSIM card, an impressive development likely supporting CFX’s performance today.

A look at the Conflux BSIM card.

1) A BSIM cold wallet that interacts with a mobile wallet.

2) 70GB of 5G internet.

3) 500 minutes across all networks.#Conflux #ChinaTelecom https://t.co/T4uNiP9VA1

— Conflux Network Official (@Conflux_Network) January 26, 2024

The BSIM comes with a cold wallet that interacts easily with a mobile wallet and gives users access to 70GB of data for 5G internet services. Users can access 500 minutes of call time across all networks, making it a welcome innovation.

Meanwhile, Conflux Network announced a vital partnership with Asia-based studio BlockBuster. The focus is developing Web3 infrastructure and building social and gaming projects on the network.

Both teams will collaborate to host significant events for Conflux Builders.

Furthermore, Conflux Network announced support for GoledoFinance to investigate the recent attack on their lending pool. With these developments, CFX is in a bullish phase as the buyers continue accumulating the token, leading to massive gains.

CFX Testing The $0.24 Resistance Level: Will It Break Above?

As the buyers returned, CFX recovered from a slump earlier in the week to form a large green candle on January 25. The Maribozu candle formed on January 26 confirmed that buying pressure has increased.

However, a red candle formed on January 27 showed that the sellers attempted to force a retracement for the asset.

Nevertheless, CFX has rallied above the $0.23 resistance level, flipping it to support. It is currently testing the $0.24 resistance, and a break above this level will send the asset up to $0.25 as the next price target.

The upper wick of today’s candle is touching the upper band of the Donchian Channel (DC), confirming that the bulls are in control of CFX’s price gains.

The Relative Strength Index (RSI) is close to the overbought region with a value of 66.49, suggesting further price increments ahead for CFX. Therefore, based on CFX’s price performance this week, it will likely break above $0.24 in the coming days if the buyers sustain their charge.

Injective (INJ) – Interoperable L1 Blockchain for DeFi Apps

The Injective Protocol (INJ) is a blockchain platform focused on decentralized finance (DeFi), covering areas like spot and derivatives exchanges, prediction markets, etc. Injective native token, INJ facilitates governance, staking, value capture, and developer incentives.

Priced at $37.86 as of 9:16 AM EST, INJ has seen an 18.5% increase from its all-time high of $45.13 on January 9, 2024. Over the last 24 hours, INJ has recorded a 0.73% increase with a trading volume of over $148.79 million.

In a January 29 X post, Injective shared an update on its achievement, which might drive its incredible price journey in the crypto space.

Ninjas, time for a thrilling recap of the week at @Injective_!

Dive into the latest accomplishments and exciting collaborations propelling #INJ's adventurous journey in the crypto world. #INJ $INJ #Injective pic.twitter.com/LRUr0mexrk

— INJ Hub (@Injective_Hub) January 29, 2024

According to the update, 49 million $INJ tokens have been staked on-chain, a remarkable feat for the Injective ecosystem. Not only that, Injective observed several partnerships, including integration with Inspect, as the primary provider of data and analytics to empower over 350,000 users on-chain.

This partnership introduces a unique infrastructure layer to Injective and caters to the extensive needs of the protocol’s users. This development, alongside other notable achievements, as indicated in the X post, could be among the drivers of INJ’s ongoing rally.

INJ Consolidates Around Nearest Support at $36.65 – Where Could A Breakout Occur?

Injective (INJ) has recorded impressive strides in the past few days, and today, January 29, it is on an impulsive move toward the resistance at the $43 level. The coin has formed four consecutive green candle sticks in the last four days.

Given the bullish momentum, INJ will likely touch the $43 resistance before any potential retracement.

Moreover, a breakout will occur above the critical resistance if the buying pressure prevails. Affirmatively, INJ’s 50-day and 200-day SMA is below the coin’s trading price, showing an overall bullish market trend in the short and long term.

Again, the Relative Strength Index (RSI) is at 55.07, pointing upward.

This shows the strength of buyers, suggesting that INJ could become overbought in the next few days if the momentum sustains. However, if sell pressure prevails, INJ could plunge into the oversold region and record further losses, which may continue if it drops below the support level at $36.65.

Flare (FLR) – EVM-Based L1 Blockchain

In the last few days, Flare Network, a platform for blockchain interoperability, sealed a significant partnership with Google Cloud, one of the top cloud computing providers globally.

This collaboration is a big deal for Flare, marking the first time Google Cloud is involved with a decentralized Oracle system.

Flare onboards @GoogleCloud as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.

Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data.https://t.co/bJF9yX7GrX pic.twitter.com/oGySMD4vVq

— Flare (@FlareNetworks) January 15, 2024

Currently, Google Cloud is taking on a dual role with Flare. First, it supports the network’s security by validating new blocks on the blockchain. Second, it contributes to Flare’s native oracle, the Flare Time Series Oracle (FTSO), providing decentralized price and data feeds.

The FTSO is crucial for Flare’s infrastructure, ensuring accurate data access for decentralized applications (dApps). This partnership propels Flare forward as a leading blockchain platform for decentralized finance (defi) and real-world asset tokenization (RWA).

Leveraging Google Cloud’s expertise, Flare aims to be the preferred platform for building the next generation of apps. For Flare users, this collaboration means more reliable and secure data feeds on the network, empowering developers to create advanced apps with access to a broader range of data sources.

The recent partnership spread excitement across the Flare ecosystem, positively pushing FLR’s price. As of 10:30 AM EST on January 29, FLR is up by 2.90%, trading at $0.022, with a 255.39% increase in 24-hour trading volume.

FLARE Sits Above Its 50-day and 200-day SMA – Can This Bullish Trend Trigger a Breakout?

The candlestick pattern in the chart above shows FLR in a consolidation period. Its horizontal trend hints at indecision between buyers and selling. Thus, a breakout can occur depending on the players ahead in the market.

If the buyers remain persistent, the FLR price will push upward. If not, a dip could occur.

Flare (FLR) ‘s price is above its 50-day and 200-day SMA, which serves as dynamic support levels in the market. The horizontal resistance on the chart is far from FLR’s trading price, indicating the distance it would take before the price stalls in the coming days.

Moreover, the Relative Strength Index (RSI) is at 57.29, in the neutral zone, showing that buyers and sellers are in equilibrium. As such, WOO could likely dip, plunging towards the horizontal support at $0.02100.

This could mean more loss as profit-taking traders may seize the opportunity to profit.

Nevertheless, the overall market trend is bullish, and an uptrend is projected. If buyers continue to push the market, given the affordable level of FLR, it can hit new gains, rallying to the resistance at the $0.02915 level in the coming days.

Sponge V2 (SPONGEV2) – The Return of A Crypto Community Favorite

Huge milestone alert, #SPONGERS!

There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14!

Our holders are enjoying an impressive current APY of +250%.

Join us and absorb the damp!! #SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby

— $SPONGE (@spongeoneth) January 26, 2024

Sponge V2 is officially above the 6 billion milestone as more investors stake their SPONGE tokens. Impressively, the developers have created Sponge V2 to provide another opportunity for investors who missed out on version 1 to enjoy massive returns.

This ecosystem operates with staking, and all version one tokens staked must be un-staked from version 1 pools and re-staked. Regarding utility, version 2 incorporates a Play-to-Earn (P2E) game mode where users can earn additional tokens by participating in exciting games.

Why Buy Sponge V2?

Fear of Missing Out (FOMO) is one of the reasons investors rush to join new projects. Sponge V1 proved that the project has all it takes to succeed and surpass a market cap of $100 million.

Squeeze out the doubt, soak up the gains! $SPONGE is mopping up the market! #SpongeV2 #100x #AltcoinRise pic.twitter.com/y6jdaw1uPh

— $SPONGE (@spongeoneth) January 27, 2024

With the extra utility added, Sponge V2 will likely break the $100 million market cap record set by version 1. Also, staking adds long-term potential to the project.

If a bull run occurs in 2024, it will bolster SPONGE V2 growth, which will launch right in the heat of the bull run, yielding massive returns for early investors.

Conclusion

The current crypto market outlook suggests a possible price recovery for most cryptocurrencies as Bitcoin regains strong support. Nevertheless, the volatile nature of cryptocurrencies should make investors wary of taking risks without proper consideration and control.

Strong community support and developments are internal factors that support the price gains for the market gainers. While Bitcoin and established altcoins continue to make waves with high uncertainty for future moves, investors can consider alternatives like Sponge V2.

Adopting presale tokens like Sponge V2 could amass notable returns when they launch on top exchanges. The next few days could set the pace for February and a possible uptrend in the crypto market.

However, investors must remain cautious and apply adequate risk management strategies.

The post Top Crypto Gainers on 29 January – CFX, INJ, And FLR appeared first on The Tech Report.

Solana Moves To Tipping Point With Possible Drop To $70 Before the Bull Run

Nick Dunn — Sat, 27 Jan 2024 04:10:27 +0000

Solana rose dramatically to occupy the fifth position in the ranking of crypto assets by market cap. Also, SOL joined the top-performing assets from 2023 as it displayed an impressive growth pattern toward the year’s end.

However, the prevailing pressure from the bears has overwhelmed most assets, including Solana.

The latter has shed some of its value. Based on the current downtrend, a prominent crypto analyst revealed that SOL has entered its tipping point and will continue to play in the red till it hits $70.

Solana Initiates A Price Correction That Will Propel Future Rally

Top crypto trader and analyst Bluntz (known as @Bluntz_Capital) recently laid out some interest growth paths for Solana. According to the trader, the token will face a correction as the price continues to decline.

Bluntz further stated that Solana will witness a great rally that will follow its negative movement.

$SOL also looking like all these weeks of sideways was probably some kind of B wave triangle.

ill be interested again in the low $70s pic.twitter.com/0n3rI6rUaO

— Bluntz (@Bluntz_Capital) January 22, 2024

Further, Bluntz offered a Solana price chart to support his analysis. The trader highlighted that the token had indicated a B-wave triangle with sideways trends.

$SOL also looking like all these weeks of sideways was probably some kind of B wave triangle.

ill be interested again in the low $70s pic.twitter.com/0n3rI6rUaO

— Bluntz (@Bluntz_Capital) January 22, 2024

Notably, the price movements display some elements of uncertainty. However, the analyst placed his attention on the potential low existing within the $70 support region.

But for now, the asset has not slipped below the $80 zone despite the prevailing bearish trend in the broader crypto market.

Picking the $70 mark reflects the worst-case scenario for SOL. If it occurs, it would represent the point where several participants will start to accumulate the token. According to Bluntz’s analysis, Solana will scale up to $150 after dipping to $70.

Such a rally will indicate the token’s best price movement since two years ago.

Solana’s Impressive Ecosystem Backs Its Growth

Solana is among the few protocols within the crypto space that display relevant real-world utilities. Most of its use cases have been supporting the growth of the coin.

Notably, the increasing value improves the token’s appeal and demand in the industry. This helps to boost its adoption, stimulating a possible rise in its price.

The Solana Mobile Saga is one of the developments in the ecosystem that has brought a huge positive impact on the token. It’s a mobile phone that includes Web3 for users to experience its unique feel.

As a move to attract more attention, Saga was listed on eBay, a popular online sales platform.

Though the price is more than $5,000, the sales offer a free airdrop of 30 million BONK coins to owners. Also, Solana has become a reliable base for meme coins and many crypto assets.

The ecosystem houses more than 200 different digital assets, including notable meme coins with potential for higher gains.

Some of the meme coins within the Solana ecosystem include Bonk, Dogwifhat, Sponge V2, Fronk, Moonlana, and others. These factors and more contribute to SOL’s price gains and will likely help in boosting its price amid the bearish pressure.

The post Solana Moves To Tipping Point With Possible Drop To $70 Before the Bull Run appeared first on The Tech Report.

Top Crypto Gainers on 26 January – CFX And ENS

Nick Dunn — Sat, 27 Jan 2024 03:43:46 +0000

In today’s crypto market, CFX, ENS, SPONGE v2, and Bitcoin Minetrix stand out as the top gainers, showcasing significant price increases. These digital assets highlight the potential for substantial profitability.

Understanding the driving factors is essential for investors to navigate the fast-paced world of crypto trading.

Let’s explore the top crypto gainers that are making waves in the market today, measuring their market trends, technological developments, and overall sentiment.

Conflux (CFX) – Pioneering Layer 1 Protocol

Conflux Network, is recording significant gains in the crypto space today, thanks to the launching of its Bitcoin Layer 2 (BTC L2), which is also EVM-compatible.

This article explores how Conflux's Bitcoin Layer 2 integration revolutionizes asset management and network security in blockchain.https://t.co/enWw1cItGy

Proof-of-Stake (PoS) consensus acts as a reliable Bitcoin Oracle.

Comprehensive metadata connects Conflux and…

— Conflux Network Official (@Conflux_Network) January 25, 2024

The purpose of this new BTC layer 2 solution is to leverage the strength of Bitcoin to boost the Conflux Network. By implementing this new solution, the BTC L2 will pay for gas fees using BTC.

This way, it opens up opportunities for an integrated and more efficient system.

As a result of this development, the CFX token is taking a massive surge. As far back as January 18, the token pumped by 8% to $0.213, and today, January 26, it is trading at $0.2067, up by 16% at 8:03 am EST.

CFX Ranges After Historical Golden Cross – Will the Market Go Upward?

In the chart above, CFX is trading above the 50-day and 200-day Simple Moving Average (SMA). This price movement shows that the coin is on a short and long-term bullish trend.

Affirmatively, the price has formed three green candlesticks in the past 3 days.

This shows that buyers are more active, pushing the value of the token during a trade to higher levels. Furthermore, the Relative Strength Index (RSI) is at 58.39 (neutral zone) and is pointing upwards.

Its movement suggests that the trade’s bullish momentum could trigger potential movements to the overbought market zone (above 70).

However, if sellers counter this momentum, then a dip could send the RSI to the oversold region (below 30) as profit-taking traders could seize the opportunity to make massive gains.

On the other hand, CFX has its resistance at $0.229. This high level implies that there’s a long way to go before the price stalls.

Again, the dynamic support levels indicated by the SMA lines show levels where buyers could enter the market. As such, expect CFX to push up further throughout the weekend.

Nevertheless, make sure to use strategic trade setups and appropriate risk management practices to make the most of this trade.

Ethereum Name Service (ENS) – Leading Web3 Username Creator

Ethereum Name Service has commenced an up-move today after finding support and bouncing at a low point of $16.

This boost is attributable to the announcement from the CUBE exchange about supporting ENS and SNS domains. As excitement and optimism grew, the ENS token reached a new peak at $18.46.

Cube now supports SNS & ENS domains @bonfida @ensdomains pic.twitter.com/WRnPssH3uD

— CUBE (@cubexch) January 24, 2024

By partnering with CUBE, it’s expected that ENS domains will be more accessible, thereby increasing the demand for the service. As of 9:19 am EST, the ENS token is trading at $20.20, marking a 14.86% increase from its lowest point in the past day.

If the positive trend continues and breaks through the $18.46 resistance, the next target is around $19.00. This could attract more buyers, leading to further price gains in the short term.

On the flip side, if the negative trend takes over, the price might drop, revisiting support levels near $17.00.

Throughout this upward movement, the market capitalization of ENS has gone up by 15.05%, reaching over $620.7 million. These rising numbers indicate growing interest and activity in ENS, suggesting potential price stability and future growth.

ENS Enjoys Overall Bullish Market Trends – Can The Next Impulsive Move Break the Resistance?

From the chart above, ENS has recorded a few series of higher highs and higher lows in the past days to months. This implies the start of an uptrend. To support it, the 50-day and 200-day SMA of the coin are below the trading price today.

As such, ENS is bullish in the short and long term.

Furthermore, the coin has formed a consecutive green candlestick on the chart, indicating increased buying pressure. As such, the price could hit new values before the trade today ends.

Moreover, the Relative Strength Index (RSI) is at 59.63, pointing upward. This shows that bullish momentum is strong and could trigger a push to the overbought region (above 70).

However, if a dip occurs as a result of persistent bearish actions, then the RSI could plunge to the oversold region (below 30). Considering ENS is on an overall bullish trend in the short and long term, it is likely for the coin to rally in the coming days and weeks, breaking the resistance at $27.44.

If that happens, then $35 could become the next targeted resistance. While that is expected to occur, it’s vital to know that cryptocurrencies are volatile and can deviate from predicted movements.

So, ensure you adopt adequate risk management strategies and strategic trade setups to make the most of your trading decisions.

Sponge v2 – Utility-Infused Play-to-Earn Project

Sponge V2 emerges as an enticing investment opportunity, positioning itself for success amidst the crypto landscape. The project’s journey from Sponge V1 to Sponge V2 is marked by strategic rebranding, shifting away from its meme-coin origins to focus on enhanced utility and sustainability.

The initial success of Sponge V1 during the bear market of 2023, achieving a near-$100 million market cap, provides a solid foundation for the relaunch. The timing of Sponge V2’s reintroduction aligns with the onset of a new bull market, opening doors for potential growth.

Unlike its predecessor, Sponge V2 is not merely relying on meme appeal; it introduces ground-breaking features like play-to-earn gaming and an innovative staking model, setting it apart from conventional meme coins.

This evolution aims to create a vibrant and engaged community while ensuring long-term viability.

Can Sponge V2 Perform Better Than V1?

One key variable that positions Sponge V2 for a massive spike is its strategic approach to market volatility. By incorporating additional utility and introducing a new ERC-20 token through the Stake-to-Earn process, the project aims to absorb market fluctuations, providing stability to investors.

Existing stakers are incentivized to migrate from V1 to V2, ensuring entitlement to the new token upon launch. Moreover, the project’s early success is evident, with over $4.12 million worth of tokens already staked and bridged, showcasing investor confidence.

The clear tokenomics structure, supported by a substantial marketing budget and planned exchange listings, enhances liquidity and fosters a favorable environment for growth.

Sponge V2’s roadmap further instills confidence, highlighting strategic announcements, staking launches, and Tier 1 exchange listings as catalysts for liquidity absorption.

The allocation of resources for marketing, game development, and in-game earning mechanics underscores a holistic approach toward the SPONGE token’s growth.

As Sponge V2 prepares for launch, the unique combination of a dedicated meme community, play-to-earn gaming, and a robust staking model positions it as an ideal project to consider.

The innovative features and strategic variables in place contribute to the project’s potential for a massive spike in the future.

While navigating market fluctuations, Sponge V2 aims to establish itself as a dynamic player in the crypto space, making it an intriguing opportunity for investors seeking both utility and growth.

To explore the potential, consider participating in the $SPONGEV2 presale at sponge-token. VIP and stay updated on project developments through their social media channels.

Bitcoin Minetrix: Time Ticking Bomb Raises Over $9.4 Million in Presale

Despite BTC not performing well this week, a novel cryptocurrency, Bitcoin Minetrix, still gathered over $9 million. Bitcoin Minetrix makes Bitcoin mining easy for everyone.

You can use their platform instead of needing fancy equipment like large computers and technical knowledge. Just buy BTCMTX tokens, like shares in mining power.

Even if you’re not a tech expert, you can join in and maybe earn Bitcoin. The cool thing about Bitcoin Minetrix is the “Stake-to-Mine” idea. If you stake your BTCMTX tokens, you get cloud mining credits.

Burn those credits, and your Bitcoin mining power goes up. It’s a way to reward people who stay involved and could boost your mining rewards.

Bitcoin Minetrix Presale Gains Popularity as Investors Seek for BTC 10X Alternative

Unlike other ways, with Bitcoin Minetrix, you stake BTCMTX tokens to help actively with Bitcoin mining. People are excited about this unique idea. In the presale countdown, you can grab a BTCMTX token for just $0.013.

You can pay with BNB, MATIC, ETH, USDT, or credit cards.

But here’s the thing: if you pick MATIC or BNB, you miss out on the 72% APY. Staking depends on what you like and how much you’re investing. For those not staking, especially with smaller investments, it’s better to go with BNB because of lower transaction fees.

Conclusion

The coins reviewed above are among the top performers in the crypto market today, January 26. As seen, their gains are attributable to recent developments, market trends, and investor sentiment.

If you’d consider investing in these top gainers, it’s advisable to work with adequate risk management strategies and always have strategic trade setups. These will guarantee high chances of profitable results as the trades play out.

The post Top Crypto Gainers on 26 January – CFX And ENS appeared first on The Tech Report.

Ripple XRP Slips Under 200-Day SMA Line, Signals Weakness – Will the Price Reverse?

Nick Dunn — Fri, 26 Jan 2024 04:30:28 +0000

Ripple (XRP) has maintained a steady downward movement since January 1, 2024. The number 6 most valuable crypto token is under strong bearish sentiment. This may be related to the high volatility in the general crypto market.

However, there’s still hope for the coin to reverse in the coming weeks, seeing that more ETF listings and the halving event are around the corner.

Ripple ($XRP) Decline: Keiser’s Expression Confirmed

Keiser, who often questions the authenticity of cryptocurrencies like Solana (SOL), has consistently expressed doubts about them in the past. Recently, he shared his skepticism again, this time targeting XRP.

In a tweet he made on January 19, 2024, Keiser described XRP as “centralized garbage.”

The analyst claimed that XRP will likely drop to $0.01 soon. Further, the analyst emphasized its ongoing legal battle with the SEC.

Centralized garbage going to $0.01 pic.twitter.com/mDQ0PPBgWi

— Max Keiser (@maxkeiser) January 19, 2024

In his former X posts, Keiser called altcoins like ADA, XRP, and SOL scams, alleging that their creators are dishonest. He classified these coins as Securities. Surprisingly, Keiser’s most recent criticism on January 23 was a “crash update” on XRP.

In this recent tweet, he called XRP centralized garbage.

Keiser added that XRP is

mathematically guaranteed to trade at virtual zero against Bitcoin.

$XRP CRASH UPDATE $XRP is centralized garbage that is mathematically guaranteed to trade at virtual zero against #Bitcoin

BY CONTRAST: Bitcoin is Perfect Money, perfectly decentralized, sent by God to unfuck our money. pic.twitter.com/SLefwIcYY1

— Max Keiser (@maxkeiser) January 23, 2024

Around the same time as Keiser’s remarks, the value of XRP went down more than 4%. Since Keiser made this post, XRP has been on a bearish trend. However, despite the negative sentiment present, prominent analyst EGRAG remains unfazed.

Based on his post on the X platform, he seems to be bullish on XRP. EGRAG expressed that XRP has the potential to rally 500% once this correction is over. The analyst predicted this based on past patterns and technical analysis.

#XRP 500% First Move :

Check the inverted chart from December 15th, 2023.

Remember #XRP enjoys toying with everyone's emotions before a mega pump.

But that 500% surge? That's just the start.
The chart below captures just a fraction of the massive surge that I… https://t.co/vIrpZIi70x pic.twitter.com/VaZ8UzGK75

— EGRAG CRYPTO (@egragcrypto) January 6, 2024

Based on the XRP chart, it climbed last year to around $0.7. EGRAG made his prediction with an inverted chart, playfully giving it a funny name. He warned of possible correction for XRP before the surge.

The present XRP chart displays what EGRAG predicted would happen. But on the good side, XRP has met this downward pressure before.

Back in December 2020, June 2022, and January 2023, XRP dipped to this current region. However, it bounced back each time. Therefore, EGRAG believes history can repeat itself as XRP undergoes this last correction.

Despite recent setbacks, XRP has seen a slight recovery and is now trading at $0.5088. However, in the last 24 hours, XRP faced a 1.5% drop.

This has caused many traders’ XRP positions to be automatically liquidated.

Ripple Price Analysis: XRP Faces Downside Risks Below Key Support Levels

Currently, XRP shows a bearish trend, trading below both its 200-day and 50-day simple moving averages. Remaining under these key averages indicates sustained downward momentum and selling pressure in the market.

XRP now heads toward nearby support around $0.43. Dropping to this level would mark over a 14% decline from the current price.

Further breakdowns below $0.43 risk fueling additional bearish sentiment. However, some traders may try taking advantage if prices become deeply oversold near $0.43, hoping for a reversal higher.

If XRP bounces upwards off that support, buyers will want to sustain the rebound to protect their investment.

Initial upside resistance to watch is around $0.79 if bulls can spark an XRP relief rally from oversold conditions. However, to confirm a real change in direction, XRP faces more obstacles to overcome after this first resistance.

Unfortunately, the MACD indicator for XRP remains negative, still below its signal line. This reflects bearish momentum exceeding bullish signals in the market currently.

In summary, XRP’s technical positioning remains weak and tilted towards further downside until signs of a bullish turnaround emerge. Dropping below $0.43 support poses substantial risks if buyers fail to appear.

While XRP struggles, investors have another opportunity in Sponge V2 to buy cheaply and reposition for possible gains following a surge.

Ripple Alternative: Sponge V2 Looks to Build on Original Meme Coin’s Success

The crypto project Sponge V2 emerged to improve on what its predecessor Sponge (SPONGE) failed to do in 2023. The original Sponge spiked in market value following its launch, filling the pockets of its early investors with profits.

Sponge V2 aims to keep the momentum going and make the coin even more compelling.

Upgrades include staking rewards that let holders earn passive income on their investments. A play-to-earn gaming component is also being added. This gaming component will allow users to win more tokens and climb leaderboards by playing games.

Features like staking and play-to-earn make Sponge V2 more rewarding and fun to own compared to the original. Plus, this extra utility helps strengthen community engagement and loyalty.

By enhancing the core coin with new capabilities, Sponge V2 hopes to be an even bigger success, building on the original’s meteoric rise last year.

The added activities incentivize participation while improving long-term prospects.

Sponge V2 Presents Another Opportunity for Early Adopters

The new token Sponge V2 is currently in its presale stage. The price is affordable right now at just $0.000670.

10 exchanges not enough? #SpongeV2 will be listed on BIGGER AND BETTER exchanges!

You’re not ready for what’s coming next #SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8

— $SPONGE (@spongeoneth) January 23, 2024

Further, early investors can gain stakes in rewards that add credibility before the launch. Sponge V2 expects significant growth based on past presale success. There are 150 billion tokens allocated for play-to-earn gaming, marketing, staking, liquidity, and more.

With these unique features, Sponge V2 aims to surpass other popular meme coins in the market. To be part of it, visit the official page and buy the presale token with ETH, USDT, or Card. The key opportunity is getting in early before exchanges list Sponge V2 later this year.

Buying now with the low presale price provides upside potential if the project takes off.

The post Ripple XRP Slips Under 200-Day SMA Line, Signals Weakness – Will the Price Reverse? appeared first on The Tech Report.

Top Crypto Gainers on January 25 – HNT And IOTA

Nick Dunn — Fri, 26 Jan 2024 02:39:14 +0000

The crypto market has found some stability as Bitcoin trades above the $40,000 price level. However, BitMEX exchange founder Arthur Hayes believes that BTC will trade between $30,000 and $35,000 at some point in 2024.

Despite his bearish predictions, some analysts believe that the upcoming Bitcoin Halving in April will trigger the next bull run. Also, the crypto Fear and Greed Index reveals that investor sentiment is neutral today. Therefore, prices can go either way.

Despite the uncertainty in the market, some investors still rely on altcoins to make profitable trades. As such, these altcoins now record positive price movement and rank among the top gainers in the crypto market today.

Helium (HNT) – The Hotspot Network For Internet Devices

HNT has posted impressive gains in the last 24 hours, shaking off bearish pressure as the buyers return. One factor likely driving HNT’s recovery is Helium’s 5G hotspot coverage expansion.

Helium 5G Hotspot coverage has expanded. @Telefonica customers in Mexico City and Oaxaca can now offload mobile data using the Helium Mobile Network. https://t.co/SwH0XPTB48

— Helium (@helium) January 24, 2024

Remarkably, one of the largest telecommunications companies, Telefónica (TEF), is creating mobile hotspots in Mexico City and Oaxaca.

This project is in partnership with Nova Labs, built on the Helium blockchain. So, customers will have access to connect to the Helium Mobile Network securely with their existing SIM.

This project is built based on the OpenWifi standard developed by the Telecom Infra Project (TIP). Some selected Moviestar customers can use their SIM cards to access the Helium Mobile Network.

This real-world application for Helium technology is likely aiding HNT’s price gains today. The daily chart shows that the buyers and sellers are still battling for control.

HNT Attempting A Recovery: Will It Break Above $7.27?

HNT has formed a bullish engulfing pattern on the daily chart on January 24, signaling a return of the buyers to force a recovery. It found support at $6.75 and is attempting to break above the $7.27 resistance level.

It faces a possible rejection at this level, which is evident from the doji candlestick formed today.

Despite the pressure from the sellers, HNT is trading above the median band of the Donchian Channel (DC). This is a bullish signal and hints at further price increases ahead for the asset.

Also, the Relative Strength Index (RSI) indicator is in the neutral zone, displaying a value of 54.18. The RSI indicator is moving sideways, confirming that the bears and bulls are evenly matched.

Therefore, an uptrend will likely begin if the RSI indicator rises above 60 in the coming days. So, HNT will likely rally again in the coming days if the buyers break above the $7.27 price level today.

However, a retracement is quite possible due to uncertainty among traders, leading to a decline back to the $6.75 support.

IOTA (IOTA) –The Feeless Data Transfer Protocol

IOTA has gained popularity in the world of digital currency. It stands out for its unique technology and its emphasis on the Internet of Things (IoT).

Investors and tech enthusiasts are closely watching IOTA due to its special focus. While it hasn’t seen many changes in recent years, it’s currently showing promising potential.

[ICYMI] What makes #IOTA 2.0 a powerful platform for transactions, #tokenization, and data transfer? From UTXO to Account Outputs and NFTs holding other NFTs – this video explains it all pic.twitter.com/URwveYkQ3A

— IOTA (@iota) January 25, 2024

The IOTA 2.0 is a reliable platform for tokenization, data transfer, and processing transactions. Using a UTXO model and IOTA 2.0 in combination aids data validation in the IOTA ecosystem.

Also, several unique features, such as the account outputs, are vital to IOTA’s operations.

These outputs help users to validate the network, delegate voting power, or simply earn rewards. Additionally, the Foundry and NFT output feature helps users mint Native and Non-Fungible tokens on the IOTA 2.0 base ledger. Furthermore, users can hold or transfer these NFTs.

The NFTs represent a user’s ownership of assets in the ecosystem. Therefore, the NFT model creates a well-organized framework to identify user ownership.

Meanwhile, to prevent the ledger from exceeding its capacity, a small storage deposit is created. This storage is important for transactions that need additional data storage space.

However, what truly makes IOTA 2.0 unique is that all transactions command no fees for token holders. Therefore, IOTA 2.0 is an extraordinary platform for transactions, tokenization, as well as data transfer.

As excitement grows due to this revolutionary upgrade, the IOTA token is pumping with significant gains in the long run.

Today, January 25, its trading volume is 614.24% up, sitting above $135.8 million. Furthermore, as of 5:59 am EST, the price of the coin is at $0.2414, up by 11.83% in the last 24 hours.

As more upgrades are hit, IOTA is likely to make massive gains over time.

IOTA Trades Between Key Support and Resistance – Is the Market Set to Range?

IOTA’s current price movement reveals some interesting dynamics. With established support at $0.2041 and resistance at $0.2671, the coin is currently navigating within this range.

This indicates a period of consolidation or range-bound trading. These levels serve as significant markers for potential shifts in the coin’s trajectory.

Adding to the analysis, the Relative Strength Index (RSI) is pointing upwards from the neutral zone at 45.40. This upward movement suggests an increase in buying momentum, indicating a potential strengthening of the bullish sentiment.

If the buyers remain strong throughout the week, the RSI hit the overbought market zone (above 70).

Otherwise, it could plunge to the oversold region (below 30). In conjunction with the RSI movement, the formation of two consecutive green candlesticks in the past two days further supports the bullish outlook.

Considering these factors collectively, there is an indication of potential upward movement in the price of the coin.

The RSI’s upward trend and the bullish candlestick patterns suggest a growing dominance of buyers in the market. While these may pose a good buy opportunity, it is advisable to watch for a potential breakout from the current trading range.

Sponge V2 (SPONGEV2) – The Staking Ecosystem for Long-Term Rewards

Sponge V2 is the sensational return of the Sponge crypto project. However, it is bigger, better, and more refined. SPONGEV2 token is an ERC-20 token launched on Ethereum.

Welcome to the $SPONGE family

You’re one of us now… $SPONGE #SpongeV2 #Presale #Bullish #Crypto #Altcoins pic.twitter.com/mwwVQ7C7ZW

— $SPONGE (@spongeoneth) January 25, 2024

Also, Sponge V2 hopes to combine the fun spirit of its memecoin community with additional utility in this new model. Its staking model adds long-term value to the project, and the Play-to-Earn game adds utility that attracts more users.

So, Sponge V2 gives $SPONGE holders an easy bridging process to move their tokens from Version 1 to Version 2.

How Bridging Works In the Sponge Ecosystem

Exciting news, #SPONGERS!

There are now over 5,627,448,685 $SPONGE tokens staked with a value of $5,445,468.33

Stake your tokens now to enjoy our current APY of +280%!

GO GO GO #SpongeV2 #Crypto #100x #Bullish pic.twitter.com/PsD2Sycxjj

— $SPONGE (@spongeoneth) January 22, 2024

$SPONGE holders can bridge their tokens from version 1 to Version 2 through staking. However, any token currently in the V1 staking pools must be removed and re-staked in the new V2 staking pool. This is because the version 1 staking pool will be closed to avoid the loss of tokens.

However, new buyers don’t have to worry about staking, as their purchased tokens will be automatically staked. After the staking lock period, users can claim their SPONGEV2 tokens on the website.

The over 5 billion tokens already staked show massive interest from the crypto community for the Sponge V2 project.

Based on the previous success of Version 1, Sponge V2 will likely be one of the top crypto projects in 2024. Also, its growing and supportive community will aid its long-term growth and expansion plans.

Bitcoin Minetrix – The Stake-to-Mine Solution

Bitcoin Minetrix (BTCMTX) is a practical mining solution that makes cloud mining accessible to all users. This project seeks to change Bitcoin mining processes and solve the problems encountered with traditional mining.

Bitcoin Minetrix relies on the novel “Stake-to-Mine” concept.

This approach allows BTCMTX holders to earn cloud mining credits by staking their tokens. Staking is a user-friendly method for individuals that lowers the entry barrier to Bitcoin mining. It makes mining easy and gives miners decentralized access.

Bitcoin Minetrix now enjoys massive community support from its vibrant supporters across all social media networks, with millions of BTCMTX tokens staked. Its decentralized nature makes it suitable for most users, eliminating the need for expensive hardware and specialized skills.

Presale Success and Tokenomics

BTCMTX presale is ongoing, surpassing the $9.2 million milestone. The presale success reflects investor confidence in the project. One of the factors driving this confidence is that Bitcoin Minetrix uses a double-earning model.

Users enjoy staking rewards of up to 87% yearly and a share of mining profits.

Therefore, it solves common challenges associated with traditional mining, such as complexity and high entry costs. Also, staking and mining incentives will also attract crypto enthusiasts searching for a simplified yet lucrative engagement in the cryptocurrency space.

Bitcoin Minetrix is a promising project, and the stake-to-mine mechanism, strong community support, and earning model will preserve its value. Also, the Bitcoin Minetrix will change the crypto mining scene due to the ease of access for miners regardless of their technical skills.

So, early investors can buy BTCMTX tokens at lower prices during the presale to join its community.

Conclusion

There is uncertainty in the crypto market today. Most investors are being cautious to avoid devastating losses. However, some altcoins present an opportunity to investors who cannot afford top projects such as Bitcoin.

These altcoins on presale could still hit high levels in price growth, rewarding early entrants.

This is because if Bitcoin rallies again, altcoins will likely show improvement in their price action in the coming weeks. While the predictions remain a possibility, traders must rely on proper risk management techniques and proper research to be on the safe side.

The post Top Crypto Gainers on January 25 – HNT And IOTA appeared first on The Tech Report.

Ethereum (ETH) Finds Support at $2,158 After Long Bearish Ride, Time to Buy the Dip?

Nick Dunn — Thu, 25 Jan 2024 03:50:24 +0000

The Ethereum price bounced back after finding support at $2,158. Before now, the price had been on a prolonged bearish trend, which led to an over 4% decline in one day.

This bearish sentiment results from the slight price decline of BTC.

Earlier this week, BTC dropped below $40,000 as more investors took a sell-off. On the bright side, the dip in ETH’s price has created a potential buying opportunity for investors. Investors may consider taking advantage of the current situation.

Ethereum Recent Price Movement

ETH price has been volatile since the end of 2023. After dropping to $1900 in November 2023, Ethereum recovered in a few days as the bulls sustained their positions.

The price rose to $2,300 (21%), where it met strong resistance and dropped.

However, that sharp move quickly ran out of steam once resistance around $2300 put a ceiling on the rally. Profit-taking kicked in and sank Ethereum’s price back to the $2100 zone within two weeks.

Since then, Ethereum has traded sideways between $2300 and $2100 as buyers and sellers battled for control.

Numerous breakout attempts in either direction failed during this period of uncertainty and back-and-forth action. Finally, Ethereum rallied 17.39% in early January from $2700 to $2300, breaking out of its trading range to the upside.

But resistance around $2700 stopped the rally in its tracks once again.

Ethereum’s price returned to $2158 within days as selling pressure resumed control over the bulls. This series of failed breakouts and rejections shows a clear tug-of-war between optimism and pessimism around $2100 & $2700.

Neither bulls nor bears maintained enough strength to sway the trend decisively.

Ethereum Price Analysis: Short-Term Caution Amidst 50-Day MA Challenge, Long-Term Resilience Upheld by $2138 Support Zone

In the short term, Ethereum trades below its 50-day moving average line. Falling under this key average indicates that bearish momentum and selling pressure control the price action.

However, on the longer 200-day timeframe, Ethereum remains above its average. This signal sustained broader uptrend support despite recent volatility.

While below the 50-day average near-term, Ethereum has established notable support around $2138. This area has contained the decline and prevented further selloff. If the $2138 support zone continues holding, it increases the chances of a bullish reversal as soon as sellers stop.

However, losing this foundation would be problematic. Also, Ethereum’s MACD sits below its signal line, reflecting bearish sentiment. However, the fading histogram bars suggest this negative momentum is decreasing.

In essence, Ethereum shows signs of basing and turning upwards, especially holding the critical $2138 support.

But to confirm that the bulls have taken back control, the 50-day average and MACD must become positive. Until clear trend change signals emerge, some caution remains prudent in the short term.

Recent Massive Transactions on the Ethereum Network and its Impact

A substantial Ethereum (ETH) transaction has recently grabbed attention in the crypto space. Just today, a renowned crypto tracking platform, Whale Alert, reported a significant movement of over 14,477 ETH, valued at more than $32 million.

14,477 #ETH (32,043,630 USD) transferred from unknown wallet to #Coinbase https://t.co/yAEFH3Cfx9

— Whale Alert (@whale_alert) January 24, 2024

Whale Alert said this ETH was from an undisclosed wallet to Coinbase. Intriguingly, this follows a similar transfer of the same amount on January 23rd, raising eyebrows about the repeated large-scale transactions.

14,477 #ETH (32,183,461 USD) transferred from unknown wallet to #Coinbase https://t.co/GKbZXHfIca

— Whale Alert (@whale_alert) January 23, 2024

Adding to the intrigue, an even more substantial movement occurred, involving around 25,000 ETH transferred from Bitfinex to an undisclosed wallet. These sizable transactions, particularly the repeated movement of 14,477 ETH to Coinbase, suggest a notable shift in the crypto landscape.

25,000 #ETH (55,145,281 USD) transferred from #Bitfinex to unknown wallethttps://t.co/H6ui23edLb

— Whale Alert (@whale_alert) January 23, 2024

The impact of these transactions on Ethereum’s future remains uncertain, but everyone should take precautions.

Such substantial movements to major exchanges like Coinbase can influence market liquidity and potentially signal that significant holders aim to sell, affecting prices in the short term.

While ETH looks bearish on the chart, investors aiming to increase their portfolio holdings with little money should grab the latest memecoin SPONGE V2 on sale.

Ethereum Alternative – Sponge V2

Sponge V2, the upgraded version of the famous meme coin Sponge (SPONGE), is set to make waves in the crypto market. Sponge V2 aims to enhance the user experience by introducing features such as staking rewards and play-to-earn options.

These additions make the Sponge system more engaging and beneficial for its users.

Grab Sponge V2 Tokens at $0.001009: Exciting Features, Rewards, and Potential Growth.

The price of the sponge V2 tokens is $0.001009 each before the official launch. It’s super cheap and easy to buy right now. Early buyers not only get a good deal but also earn rewards.

Crypto experts and top publications are talking about it, adding credibility.

After Sponge V1’s success, Sponge V2 aims for significant growth. Past presales did well, and the positive crypto market vibe hints at a bright future for Sponge V2.

There are 150 billion Sponge V2 tokens for play-to-earn, game development, marketing, staking rewards, bridged SPONGE tokens, and CEX liquidity.

They have a cool play-to-earn game with free and premium versions. You can earn SPONGEV2 tokens and climb the leaderboard. Sponge V2 plans to beat other meme tokens like Pepe.

The post Ethereum (ETH) Finds Support at $2,158 After Long Bearish Ride, Time to Buy the Dip? appeared first on The Tech Report.

Top Crypto Gainers on January 24 – AKT and BLUR

Nick Dunn — Thu, 25 Jan 2024 03:20:59 +0000

The crypto market continues to decline as Bitcoin struggles between $40,000 and $39,900 today. Also, the Fear and Greed Index shows that investors’ sentiment remains neutral at 48.

Despite the slump, some altcoins still record impressive gains today based on strong community support and developmental activities.

This downtrend for Bitcoin and some other cryptocurrencies confirms that the sellers are in control of the crypto market. Therefore, another positive news event is needed to force a price recovery.

Nevertheless, the top gainers today rally based on community support and exciting trends in their ecosystem.

Keep reading to find their possible price moves in the coming days, as detailed below.

Akash Network (AKT) – The Open-Source Cloud Network

AKT has overcome bearish pressure to rally in the past 24 hours based on exciting developments in its community. According to the founder, Greg Osuri, on X – the network surpassed 10,000 units in CPU supply, marking a historic milestone for Akash.

CPU supply on Akash has reached a new milestone of over 10,000 units for the first time in Akash's history.

The winner of the competition who correctly guessed the time to reach this milestone will be awarded 1,000 $AKT and will be announced shortly.

Source:… https://t.co/Y31gD6qy9Q pic.twitter.com/Nme4blHH2Y

— Greg Osuri ⟁ d/acc (@gregosuri) January 22, 2024

This confirms the platform’s growth and increasing demand for its services. Also, it shows that it has expanded in adoption and utility in the crypto community.

Following the announcement of the CPU supply milestone, an exciting competition was launched.

Participants who correctly guessed how long it would take for Akash to achieve the milestone stand a chance to win 1,000 $AKT. The winner will be announced soon, creating excitement in the community.

These milestones have proven vital to Akash Network’s growth today.

The surge in CPU supply signifies heightened usage and adoption of the Akash Network, reflecting a growing user base and increased activity on the platform. Such developments contribute to a positive market sentiment, attracting attention from investors and enthusiasts alike.

As a top gainer, Akash’s performance is not only reflected in its market value but also in the innovative solutions it provides. The network’s ability to reach and surpass significant milestones demonstrates its competitiveness and potential for sustained growth in the dynamic cryptocurrency landscape.

As of 7:47 am EST, AKT is trading at $2.71 with a 15.19% increase in the last 24 hours. Furthermore, its market cap is up by 14.67%, sitting above $613.8 million.

AKT Retests Support Level and Continues Above – Can The Next Impulsive Move Last?

In the chart above, the last two candlesticks show a retest of the price at the support level of $2.30. This suggests an impulsive move to the upside, triggering a continuation of higher highs and higher lows.

Again, the coin is trading above its 50-day and 200-day SMA, signaling a bullish market trend.

Thus, there’s a strong likelihood for AKT to push upward in the coming days. In the chart above, its Relative Strength Index (RSI) is pointing upward from the 50.67 mark, suggesting increased buying activities in the market today.

If this buying pressure remains strong, the RSI could spike to the overbought zone (above 70).

However, since the crypto market is unpredictable and deviates from expected behaviors, a dip can occur, pushing the neutral RSI to the oversold region (below 30).

Nevertheless, AKT is trading near its horizontal and dynamic support levels, which means buyers are very active.

If there should be a halt in the price rally, then it could occur at AKT’s value nears the resistance at $3.35. Given the distance before this price is reached, the coin is prone to hit new prices in the coin days.

Blur (BLUR) –The Unique NFT Marketplace

BLUR has displayed impressive price gains in the past 24 hours, deviating from the general market slump. Despite price volatility this week, the buyers have returned to force a recovery.

According to Lookonchain data, an influential trader, Machi Big Brother, sold $APE tokens to buy $BLUR.

Machi Big Brother continues to sell $APE and buy $BLUR!

He started buying $BLUR on Nov 23, 2023 and has bought a total of 11.8M $BLUR($6M) at an average price of $0.51 so far.

Since August 2, 2023, he has bought 6.12M $APE($9.34M) from #Binance and #DEX at an average price of… pic.twitter.com/jJdH38B1ga

— Lookonchain (@lookonchain) January 16, 2024

The trader started buying BLUR on November 23, 2023, and has purchased a total of $11.8 million BLUR worth 6 million dollars. This purchase is likely boosting BLUR’s price performance.

Also, BLUR draws massive interest from the NFT community, holding almost 80% of NFT trading volume in December 2023.

Remarkably, the Blur NFT marketplace has a 24-hour trading volume of $25.34 million and over 4,420 active traders today. This confirms massive interest from the crypto community in the Blur NFT marketplace, with over 8,780 transactions processed today.

On the daily chart, BLUR attempts to rally as it faces pressure from the sellers.

BLUR is Facing Pressure from the Sellers. Will the Rally Continue?

BLUR has found support at $0.63 as it attempts to rally above its nearest resistance level of $0.67. Despite the red candle formed today, the upper wick shows that the buyers are still active and determined to sustain the ongoing rally.

Also, the Relative Strength Index (RSI) indicator is in the neutral zone, displaying a value of 57.23 and dropping. This implies that the price of the asset can go either way.

As such, a break above 60 for the RSI will confirm a bullish recovery. Additionally, the Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a bullish signal.

However, the fading Histogram bars hint at a possible rejection at the $0.67 resistance level and a retracement. Therefore, BLUR exhibits price volatility, and traders must watch out for the close of today’s candle to determine its next possible moves.

Sponge V2 (SPONGEV2) – The Return of The Community Token With Staking Rewards

10 exchanges not enough? #SpongeV2 will be listed on BIGGER AND BETTER exchanges!

You’re not ready for what’s coming next #SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8

— $SPONGE (@spongeoneth) January 23, 2024

While most tokens in the market show price volatility, SPONGE V2 is another alternative for investors. Sponge V2 is the relaunch of the successful $SPONGE project, which has more utility and a vibrant community.

The goal is to absorb the damp (liquidity) and give investors who missed out on the 2023 rally a second chance.

Remarkably, Sponge V2 relies on a Stake-to-Earn (S2E) mechanism to reward its users. Also, $SPONGE users who staked their tokens do not need to worry, as they can bridge their tokens to the new V2 staking pool.

Sponge Close to 6 Billion Staking Milestone Confirming Investor Interest

Sponge V2 relies heavily on staking to reward its holders. Presently, over 5.81 billion tokens have been staked at an APY of 278%, which is high compared to other staking ecosystems.

Users who purchase their SPONGEV2 tokens from the official website have their tokens automatically staked.

Staking will likely preserve the long-term value of SPONGEV2 tokens and control inflation due to excess circulation. Meanwhile, Sponge V2 developers have added utility to the ecosystem with a Play-to-Earn (P2E) game model.

So, users can earn SPONGEV2 tokens by playing this game.

Also, they can swap the SPONGEV2 tokens for game credits, which gives the token utility and further increases its value.

Crypto Analysts Confirm Sponge V2 Potentials

Sponge V2 received glowing reviews from the crypto community, with analyst Jacob Crypto Bury reviewing its long-term potential. According to the analyst, it will likely give investors up to 50X returns, similar to the success of version 1.

Sponge V1 raced to a $100 million market cap in a short while with limited utility and a strong community. So, with the improvements in Version 2, it will likely match and surpass the performance of Version 1.

Conclusion

The slump in Bitcoin is a reflection of the volatility in the general crypto market. Although the market value has dropped, some investors will likely see this decline as an accumulation phase.

As such, the general market sentiment remains neutral as buyers and sellers compete for control. Nevertheless, investors must apply caution and proper risk management to avoid major losses since the crypto market is volatile.

The post Top Crypto Gainers on January 24 – AKT and BLUR appeared first on The Tech Report.

Top Crypto Gainers on January 23 – SUI and CHZ

Nick Dunn — Wed, 24 Jan 2024 03:29:26 +0000

The retracement in the crypto market continues today with a 3.3% decline, moving the total market cap to $1.64 trillion. Bitcoin has dropped below the $40,000 support level, and most cryptocurrencies have shed their gains, signaling further declines.

The Bitcoin ETF approval may have triggered a sell-off in the market, and analysts believe investors are cashing out on ETFs.

Market volatility is high, and prices can go either way. Moreover, the crypto Fear and Greed Index is neutral at 50, showing indecision among investors. Nevertheless, some altcoins have recorded impressive gains in the last 24 hours due to their strong community support.

More facts about these top gainers and their possible price moves are detailed below.

Sui (SUI) – The Proof-of-Stake L1 Blockchain

SUI records slight gains today despite market volatility. Its strong community and ecosystem developments continue to support its price gains. One of the factors supporting SUI’s gains is the Design Staking Aggregator that is live on the Sui Network.

BIG NEWS: Desig Staking Aggregator is now live on @SuiNetwork!

Unlock effortless staking with Desig:

One-Click Staking: Simplify your investments.
Expert Scorecard: Dive into analytics.
Smart Dashboard: Real-time metrics at a glance.

Explore now pic.twitter.com/tDJhswBJrE

— Desig | Omnichain Multisig Wallet (@DesigLabs) January 20, 2024

With Design Staking Aggregator, users can access one-click staking, the smart dashboard, and an expert scorecard for analytics. Additionally, Design Labs is hosting a staking tournament on Sui with a 5000 SUI price pool to be distributed among winners.

Furthermore, Sui network has surpassed Cardano to become the number two non-EV< chain based on its TVL. This is quite impressive for the network just eight months after launching its Mainnet.

Another interesting event is SUI’s inaugural global conference in Paris, France, tagged Sui Basecamp.

This event will take place between April 10 and 11 and gather builders, businesses, and communities that support Sui. Unfortunately, despite the positive developments, SUI still faces bearish pressure on the daily chart as sellers dominate the crypto market.

SUI Under Pressure From Sellers: Will It Drop Below $1.02?

SUI has formed two Doji candlesticks on the price chart as the buyers and sellers continue to battle for dominance. After a decline between January 20-21, it found support at $1.02 as it attempts to break above the $1.13 resistance level.

However, there is little pressure from the buyers to overcome the resistance at $1.13. Another indicator to watch is the relative strength index (RSI) indicator in the neutral zone, which displays a value of 53.97.

The RSI sideways movement confirms traders’ indecision in the market.

The daily chart readings show that the Moving Average Convergence/Divergence (MACD) indicator has dropped below its signal line. This is a sell signal confirmed by the red Histogram bars.

SUI will likely trade in a sideways trend in the coming days before resuming its uptrend. However, if the $1.02 support fails to hold, a further decline will occur.

Chiliz (CHZ) – The Home of SportFi

A major player in web3 infrastructure for entertainment and sports, Chiliz, is creating a buzz in the cryptocurrency world as of January 23.

Their primary layer-1 blockchain for sports has achieved a milestone by surpassing 10 million recorded transactions, marking a significant moment in history.

Chiliz Chain, the Layer-1 Sports Blockchain, has passed its first 10 million transactions.

Have a look at all transactions https://t.co/S8N2ZvTkbT #ChilizChain $CHZ pic.twitter.com/lKWwoIG9IA

— Chiliz ($CHZ) – The home of SportFi (@Chiliz) January 17, 2024

Furthermore, there’s news about a node upgrade on Chiliz Chain nodes, introducing a Spicy Validator Node. In simpler terms, Chiliz is making big strides in the sports and entertainment crypto space.

The blockchain has processed over 10 million transactions, indicating a growing and active user base.

Additionally, the node upgrade, especially with the introduction of a Spicy Validator Node, suggests improvements in the network’s capabilities and security. Considering this notable milestone and upgrade on its infrastructure, Chiliz could attract more attention and confidence from investors.

As a result, the coin has surged by 1.73% to $0.095 as of 8:22 am EST. Additionally, the trading volume in the last 24 hours has shot up by 55.35%, sitting above $158.6 million.

CHZ Rallies Toward Historically Respected Supply Zone – Can It Break Out?

In the chart above, CHZ is forming a green candlestick today, showing an increase and persistent buying pressure for traders in the market. Also, it is consolidating within a zone that has served as a resistance in the past days to months.

Again, the candlestick pattern formation on that chart poses a Bullish Harami signal suggesting that CHZ’s rally could break this resistance zone to the top, restarting new series of higher highs and higher lows.

Based on the candlestick pattern in the last 8 days, CHZ’s rally could form a “W” pattern, hinting at a push into the supply zone and a break out above it.

To support this bullish sentiment, the coin is trading above its 50-day and 200-day Simple Moving Average, which serves as dynamic support levels for the trend. Again, the Relative Strength Index (RSI) is at 54.71, pointing upward to the overbought region (above 70).

If buyers uphold their strength throughout today and in the next few days, CHZ could break above the critical supply zone. However, failure to break out could trigger a dip or reversal to the downside.

At this point, it’s advisable to adopt adequate risk management strategies along with strategic trade setups to make the most of the potential movements.

Sponge V2 ($SPONGEV2) – The Return Of The Community-Focused Token

#SpongeV2 is heating up

We’re not stopping until we find all the damp $SPONGE #CryptoCurrencies #100x #Bullish #Uniswap #Coinbase pic.twitter.com/2VItrw9epZ

— $SPONGE (@spongeoneth) January 23, 2024

Sponge V2 is the rebranded version of the original $SPONGE that enjoyed massive success and interest from the crypto community. This project creates a fun and utility-driven ecosystem for its community with the opportunity to earn exciting rewards.

Staking is the bedrock of Sponge V2, which brought massive success when version 1 was launched in 2023. Also, SPONGE was a major driver of the market rally during the memecoin season of 2023, posting impressive gains.

Staking Vital To Earning Massive Rewards With Sponge V2

Sponge V2 continues with the staking model to reward its holders and preserve the long-term value of the tokens. Remarkably, the rewards are distributed at an APY of 300%, and over 40% of the total supply is dedicated to staking rewards.

After the official launch of SPONGEV2, the first token, $SPONGE, will no longer be supported. So, the Stake-to-Bridge model ensures that $SPONGE holders convert their tokens through staking and earn rewards.

Sponge V2 Play-to-Earn Game Adds Utility To The Ecosystem

Most memecoins struggle to find real-world utility and application. However, the Sponge V2 developers have added a Play-to-Earn (P2E) game that adds fun and engages the community. There will be a free and paid version of the new Sponge P2E game.

For the paid version, users can make use of the SPONGEV2 tokens to purchase game credits. So, the Sponge V2 launch is set to become another hot crypto topic in 2024, with the success enjoyed by version 1 and its race to a $100 million market cap.

If you’re interested in the opportunities available, SPONGEV2 tokens can be easily purchased from the official website.

Bitcoin Minetrix (BTCMTX) – The Mining Solution for Exciting Rewards

The Bitcoin Minetrix presale has successfully gathered over $9.1 million, showcasing strong support and interest from investors in the Bitcoin cloud mining project.

With the presale approaching its end, there’s a limited time for investors to seize the opportunity to buy $BTCMTX tokens at the current appealing price of $0.013.

The excitement in the market is evident as the presale progresses, and real-time data reveals a substantial surge in investments, reaching a total of $9,112,738. This conclusive stage is anticipated to enhance the token’s value further, presenting early investors with a potentially profitable chance.

The possibilities of price increases add to the appeal, creating opportunities for investors to capitalize on potential gains.

Bitcoin Minetrix is Garnering Momentum – Can It Continue After Presale?

Bitcoin Minetrix stands out in the thriving Bitcoin-related crypto market, especially with the Bitcoin spot ETFs. What sets it apart is its innovative approach to Bitcoin mining, aiming to democratize access to block rewards and address the growing centralization in the mining industry.

We're approaching the conclusion of Stage 21, with only 3 days remaining!

Have you ever faced any regulatory hurdles or challenges related to #Bitcoin mining? pic.twitter.com/56zuTkdUo4

— Bitcoinminetrix (@bitcoinminetrix) January 23, 2024

Amid the backdrop of an all-time high Bitcoin Hash Rate, Bitcoin Minetrix provides a decentralized solution to counteract the increasing centralization challenge.

It introduces an innovative cloud mining approach, allowing retail investors to participate in Bitcoin mining rewards profitably, even in the face of high network difficulty levels.

The platform’s stake-to-mine feature, set to launch soon, enables investors to stake their $BTCMTX tokens and benefit from a current 140% APY. So, users can earn additional tokens from the stake-to-mine feature.

These earnings are used to acquire mining credits, which can be exchanged for BTC cloud mining credits.

So, $ BTCMTX has massive potential due to its innovative mining model. Moreover, BTCMTX’s low presale price allows investors to earn a profit when it lists on exchanges and rises in value.

Notably, BTCMTX will likely benefit from the upcoming Bitcoin Halving in April 2024, where mining rewards will be reduced and difficulty will increase.

Conclusion

The rally in December 2023 made investors accumulate cryptocurrencies, leading to an uptrend in the market. Unfortunately, the crypto market has retraced in the past week as more investors close long positions hoping to grab profits.

If Bitcoin rises above $40,000 in the coming days, then the rally will likely resume for the altcoins. Notwithstanding, crypto investors must apply proper risk management and research to avoid severe losses.

The post Top Crypto Gainers on January 23 – SUI and CHZ appeared first on The Tech Report.

Danger as ADA Break $0.46 Support Level – Is There Any Hope for A Rebound?

Nick Dunn — Wed, 24 Jan 2024 02:28:16 +0000

Cardano ADA faces trouble as it breaks the $0.46 support level after a substantial downturn. The token has lost over 13% in the past week and now trades at $0.46, with a 6.5% decline in the last 24 hours.

To many, now might be the best time to accumulate more ADA coins before the bulls return.

Moreover, even though ADA is down today, the longer timeframe still signals bullish. The following analysis could provide hints on possible ADA trajectories in the coming days.

ADA Price Update: Recent Drops and Hopes for a Turnaround

ADA has formed a descending channel from continuous drop over the past few weeks. The bulls showed strong efforts to change the trend but met challenges. On December 28, ADA tried to break out from the descending channel but lacked momentum.

As a result, it dropped sharply from $0.67 to $0.47 in just a few days, marking a 42% decrease. By January 09, the market changed direction after addressing some imbalances, and ADA briefly rose to $0.6. Unfortunately, Cardano (ADA) then experienced a gradual decline.

According to CoinMarketCap, ADA has seen a 24% decrease in the past month, with bears maintaining control over the last seven days, resulting in a 15.88% drop. As of 7:40 a.m. EST, ADA is currently trading at $0.45, reflecting a more than 7.48% decline in the past 24 hours.

The trading volume surged to over $515 million, indicating increased token exchanges.

ADA Price Analysis: What Happens Next After Cardano’s Recent Volatility?

As mentioned earlier, ADA is in a downward-sloping channel, which has been holding it for the past few weeks. This pattern indicates that short-term weakness still weighs on Cardano (ADA).

Unfortunately, Cardano now trades under its 50 moving average, which suggests bullish momentum is lacking to shift the tide upwards.

The RSI is 37, near the oversold region, additionally indicating that Cardano became undervalued. At this point, buyers might step in to capitalize on the low prices, adding momentum to ADA, which could facilitate a rebound.

This excessive sell-off suggests that, at some point, the price will likely go up again.

Overall, conflicting indicators make Cardano’s outlook uncertain. But the oversold levels suggest upside potential in the coming days. If Cardano breaks its channel upward and convincingly reclaims the 50-day average, it will confirm bulls have resumed control for a fresh uptrend.

But buyers need to act fast, or the bears may persist, dragging prices lower for now.

Crypto Analyst Made Bullish Projection for ADA

Despite the prevailing challenges, there is still optimism for ADA’s potential rise in the upcoming week. Crypto trader Martinez recently dropped a bullish outlook for Cardano ($ADA) in an X post.

The chartist notes Cardano ($ADA) is currently in a consolidation phase, which mirrors its movement in 2020 before its groundbreaking 2,900% surge to a $3.09 all-time high. Martinez believes a repeat of the 2020 market structure might trigger a resumption in ADA’s uptrend.

#Cardano's current consolidation phase mirrors its late 2020 behavior. If history repeats itself, we might see $ADA resuming its upward trend around April. This pattern continuation could potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7! pic.twitter.com/RuRA2EDMNP

— Ali (@ali_charts) January 19, 2024

If the pattern continues, ADA’s price could rocket higher. Martinez’s primary target is $.80 initially, but he expects a temporary pullback to $0.60 before the ascent. After that, Martinez sees potential for ADA to then rally up toward the coveted $7 level.

Major Holders Continue to Move Large ADA Despite Price Drop

The Cardano network recently saw a massive spike in large transactions, with over 27 billion ADA moved from one place to another, according to data site IntoTheBlock.

These giant transfers suggest that big investors and institutions are moving funds, a move that signals positive investor sentiment as more people feel confident in the Cardano network.

While the broader crypto market slowed down after the recent ETF buzz, ongoing network transactions suggest ADA might pick up soon as demand rises.

Cardano Top Alternative to Consider – SpongeV2

Sponge V2, the upgraded version of the famous meme coin Sponge (SPONGE), aims to consolidate the success of the original SPONGE coin, which hit $100 million in market cap within a short time in 2023.

Sponge V2 introduces utility with features like staking and play-to-earn options, making it more exciting than the original version.

Sponge V2 Presale – Affordable Entry, Lucrative Rewards, and Unique Features Await

Sponge V2 is currently in its presale stage, offering early investors the opportunity to secure the token before the official launch. Right now, the price is just $0.000824, opening up an accessible window for early investors to earn massive returns later.

The presence of staking rewards and gaming features will not only add credibility to the project but also draw the attention of gaming lovers beyond the crypto-verse.

Building on the success of Sponge V1, Sponge V2 anticipates significant growth, especially considering past presales’ positive market outcomes.

With 150 billion tokens allocated for play-to-earn incentives, game development, marketing, staking rewards, bridged SPONGE tokens, and CEX liquidity, Sponge V2 introduces a free and premium play-to-earn game.

Players can earn SPONGEV2 tokens and climb the leaderboard. With these distinctive features, Sponge V2 aims to surpass other meme tokens like Pepe. To become part of this project, visit the official page and purchase the token using ETH, USDT, or Card.

The post Danger as ADA Break $0.46 Support Level – Is There Any Hope for A Rebound? appeared first on The Tech Report.

DOGE Shows Volatility as General Market Retreats – What’s Next?

Nick Dunn — Tue, 23 Jan 2024 03:50:35 +0000

DOGE displays price volatility in the past 24 hours, mirroring the retracement in the general crypto market. This retracement is the post-ETF approval slump, which affected top cryptocurrencies such as BTC and Ethereum.

After its decline to $0.07 between January 19-20, it returned to $0.08 on January 21. However, the rumored integration of Dogecoin as a payment solution on X is likely driving its slight gains today.

Dogecoin Price Action Today

Dogecoin briefly rallied over the weekend after speculation of an X payment integration spread online. However, it faces volatility in the last 24 hours. Its price at 5:36 a.m. EST is $0.082, with a 5.1% decrease in the last 24 hours.

This is a reflection of the general crypto market, with most cryptocurrencies shedding their gains.

Nevertheless, if the X payment integration takes place, then a massive rally will likely occur for DOGE. Notably, DOGE rose by 12.8% to hit a 7-day high early on January 20 before a retracement.

Also, crypto trader Skew gave a bullish analysis of DOGE’s performance after the creation of the XPayments account.

Skew’s Projection for Dogecoin Moving Forward?

In the recent post on X, Skew remarked on DOGE’s pump after the creation of an XPayments account. He believes that the increase is based on the market sentiment that X will integrate Dogecoin as a payment option.

$DOGE Market / Narrative thread, in partnership @_WOO_X $DOGE 4H
Nice pump after the creation of the @XPayments account, which tells me the market is once again speculating that X will integrate doge as a payment option

Nice momentum here still however price needs to properly… pic.twitter.com/y7pISQD4b7

— Skew Δ (@52kskew) January 21, 2024

Secondly, Skew noted that DOGE has built a nice momentum but must reclaim the one-week pivot ($0.087) to be considered an uptrend. Additionally, he stated that more perpetual trading volume was noted than spot volume.

Skew advised investors to look out for some indicators such as spot leading price and spot limit bid on dips. Furthermore, the trader analyzed the previous rally from Dogecoin related to X.

However, he noted that the Dogecoin logo was eventually removed, and the market rally was not sustained.

So, according to Skew’s analysis, for Doge to rally again, the market needs a stronger narrative, and it must reclaim key price levels. Also, there must be higher spot flows to support the perpetual speculation, and its four-hour (4H) chart trend must be sustained.

Will Dogecoin Recover Soon?

DOGE formed a Maribozu candle on January 20 as the buyers rallied to trade the news. However, its price has declined to lower lows in the past two days, forming two consecutive red candles.

DOGE faced rejection at the $0.088 resistance level as the buyers failed to sustain its price momentum.

Currently, the sellers are mounting pressure to move the asset below the $0.078 support, and a drop below it could cause further decline in the coming days. DOGE is trading below the median band of the Donchian Channel (DC), which is a bearish sentiment hinting at a further decline.

The Relative Strength Index (RSI) indicator confirms this sentiment, dropping below the neutral zone to a value of 47.60. Also, the RSI indicator is moving downward, which confirms that DOGE will likely retreat to the oversold region below 30 in the coming days.

The daily chart confirms that DOGE is in a bearish phase and will likely decline further in the coming days. However, if the $0.078 support holds, then it will act as a price pivot to support a break above $0.088.

Therefore, traders should watch out for the close of today’s candle for confirmation of DOGE’s next direction. But while DOGE struggles with volatility and speculation, Sponge V2 provides investors with a utility-driven investment opportunity.

Dogecoin Alternative For Exciting Rewards – Sponge V2

Sponge V2 is the relaunch of the popular memecoin project $SPONGE after its massive success in 2023. The reason for the relaunch is to give investors another chance and to improve the quality of the ecosystem.

Sponge V2’s return created excitement in the crypto community based on its potential and the past success it has recorded.

Staking Adds Value To $SPONGE Tokens

$SPONGE Update!

We've hit a new milestone with 5,390,882,888 tokens staked, valued at $5,233,589.24!

With a current APY of +300% and a price of $0.0009663 (+18% increase), $SPONGE is stronger than ever.

Don't miss out, join the takeover! #SpongeV2 #Web3 #Alts pic.twitter.com/GMhqAnTehI

— $SPONGE (@spongeoneth) January 19, 2024

Despite the relaunch of Sponge V2, one thing remains unchanged – staking. Sponge V2 staking gives users an easy way to migrate their old $SPONGE tokens from the V1 staking pools to V2 staking pools to receive Sponge V2 as a reward.

Also, new investors who purchase the tokens will have their tokens automatically staked in the V2 pools.

With an APY of 300%, the staking feature presents an opportunity for investors to earn exciting rewards. Impressively, over 5.39 billion tokens have been staked as more investors purchase the token ahead of its listing on top exchanges.

Play-To-Earn (P2E) Game Adds More Fun To Crypto Community

Also, the Sponge V2 game, the P2E Racer, will launch soon, creating fun in the community. Investors can earn more $SPONGE tokens from the weekly gameplay, which serve as additional rewards.

According to the whitepaper, there will be a free and paid version of this P2E game, where users can opt to play for free or purchase game credits.

Based on past performance, some analysts believe that SPONGE could repeat its past success based on its additional utility. Although $SPONGE is not affiliated with Nickelodeon or the Sponge Bob Square Pants franchise, it still boasts of a supportive community.

Interested investors can purchase $SPONGE tokens easily from the official website using any of their preferred payment options.

The post DOGE Shows Volatility as General Market Retreats – What’s Next? appeared first on The Tech Report.

Top Crypto Gainers on January 22 – MANTA and FXS

Nick Dunn — Tue, 23 Jan 2024 01:02:48 +0000

The crypto market continues to face volatility as the top cryptocurrencies decline in the last 24 hours. Bitcoin has dropped below $41,000, losing 2.2% of its price gains today.

While there is no definite cause of this retracement, fear of large BTC sales in the market has made investors more conservative.

Moreover, the crypto Fear and Greed Index displays greed at 55, meaning some investors are interested in ‘buying the dip.’ Despite the bearish sentiments, some altcoins still record impressive gains in the last 24 hours.

These altcoins rely on factors such as development and community support to record these gains.

Manta (MANTA) – The Privacy-Focused Layer-2 Solution

MANTA is in the green today, trading at $2.54 with a 4.4% increase in its value in the last 24 hours. One of the factors driving MANTA’s gains is the fact that it is the first L2 on Celestia.

So, it helps the Celestia community save on gas fees.

Scaling on Manta with @CelestiaOrg underneath.@mantanetwork is the first L2 on Celestia, enabling the network to uniquely deliver significant gas fee savings to users. https://t.co/tEeeGfGXvz

— Manta Network (,) #MantaNewParadigm (@MantaNetwork) January 21, 2024

This reduction in gas fees will likely attract more users to adopt the L2 for their transactions. Currently, Manta Network offers users access to two networks. They are Manta Pacific – an L2 ecosystem for Ethereum dApps and cheap gas fees and Manta Atlantic – the fastest ZK L1 on Polkadot.

Additionally, the Manta Staking Launchpad v2.0 is live. This platform will give users access to earning staking rewards, managing their portfolios, and participating in quests.

MANTA was listed on Binance about a week ago and is showing a positive price form as more investors adopt the tokens.

MANTA Gaining Today, What Next For The Token?

MANTA is gaining on the 30-minute timeframe, forming a green candle after finding support at $2.47. Remarkably, its listing on Binance on January 18 has contributed to its price gains, moving the asset above $2 in a few days.

However, MANTA faces resistance at $2.52, and a break above this level will move it closer to $3.

The upper wick on the 30-minute candle rises above the median band of the Donchian Channel, signaling a short-term increase. The Relative Strength Index (RSI) indicator is also rising from the neutral zone with a value of 51.14. This implies that the buyers and sellers are almost evenly matched.

MANTA has already attained an all-time high of $2.74 today and is under pressure from traders hoping to scalp profits. Therefore, it will likely drop to the $2.47 support before rebounding again to re-test the $2.53 support level if the buyers rally again.

Frax Share (FXS) – The Decentralized Platform for Stablecoins

Several milestones have been recorded on the Frax Share network, and it is clear that the excitement coming from this progress is driving the growth of the FXS coin.

On X.com, a profile DefiMoon published said that $FXB bond pools from Frax Finance are now live on Curve, followed by massive $CRV rewards.

Also, in a thread made by the project’s social media team on the X platform, it’s clear that there are more developments expected to occur in the Frax ecosystem.

FXBs will have a plethora of use cases & utility since the Frax ecosystem is already incorporating them.
There are FXB @CurveFinance pools, $FXB Fraxlend pairs for users that want leverage, & more coming sooooon. @hourglasshq is also working on something big • • Reach out if…

— Frax Finance (¤, ¤) (@fraxfinance) January 19, 2024

Apart from the FXBs that would come with numerous utility and use cases, there would be FXB pools from CurveFinance and $FXB Fraxlend pairs to empower users who like to work with leverage.

Considering these updates, it’s clear that the positivity in the project’s community is driving the growth of its token $FXS.

Today, January 22, FXS is trading at $9.23, with its 24-hour trading volume up by 124.92% to over $57.4 million. As more achievements are hit within the Frax ecosystem, its token’s worth is expected to climb up as well.

FXS Enters Consolidation Phase – Can It Break Out with an Uptrend?

The daily chart reveals that the FXS token experienced a pullback from the 200-day Simple Moving Average (SMA) but managed to regain strength, demonstrating resilience in the market.

Despite this positive recovery, the token faced a significant hurdle at the $10 mark. The price briefly touched this level, but the bulls couldn’t sustain it, resulting in a rejection wick.

Following this, the cryptocurrency entered a consolidation phase near the breakout zone, hinting at a potential upcoming move.

Amidst prevailing positive market sentiments, Frax Share (FXS) recorded an accumulation phase and successfully recovered over 70% of its recent gains in the past weeks.

This resilient performance is complemented by the fact that the token has climbed above significant moving averages, signaling a bullish trend that buyers are eager to sustain.

The FXS token is trading at $9.27, reflecting an intraday gain of 3.20%. The pullback from the 200-day SMA is evident, but the overall sentiment remains bullish.

Notably, the trading volume has increased by 118.83% to $57.45 Million, underscoring the prevailing bullish bias. The Relative Strength Index (RSI), a key technical indicator, has remained near the midline at 57.10, showing a negative divergence and supporting the potential bearish bias.

If the RSI continues moving down to the oversold region (below 30), the price of FXS could dip drastically. In the chart above, the coin has support levels at $5, $7, and $8.7.

If selling pressure triggers a downtrend in the coming days, the nearest support at $8.7 poses a significant level for a price bounce.

However, a breakout below this level could hint at further losses coming. Nevertheless, indicators and candlestick patterns hint at an overall bullish market trend, so it’s likely that FXS will reverse upward after pulling back in the coming days.

Sponge V2 – The Return Of The Exciting Altcoin Project

Sponge V2 is the relaunch of the largely successful $SPONGE tokens with an upgraded staking mechanism for additional rewards. The goal is to combine fun and utility to keep the Sponge community engaged.

Eventually, all $SPONGE V2 tokens will be staked to launch the new Sponge V2 tokens. Also, all new tokens purchased will be automatically staked for the migration to V2.

How Sponge V2 Works?

Sponge V2 relies on staking of $SPONGE tokens to reward its community and token holders.

$SPONGE Update!

We've hit a new milestone with 5,390,882,888 tokens staked, valued at $5,233,589.24!

With a current APY of +300% and a price of $0.0009663 (+18% increase), $SPONGE is stronger than ever.

Don't miss out, join the takeover! #SpongeV2 #Web3 #Alts pic.twitter.com/GMhqAnTehI

— $SPONGE (@spongeoneth) January 19, 2024

Currently, over 5.39 billion tokens have been staked, confirming massive interest from the crypto community. Also, tokens staked in the previous version 1 staking pool are not lost. However, they must be un-staked and migrated to the Version 2 staking pools.

Staking will add to the long-term value of the project, similar to its success in the version 1 attempt. Furthermore, the Play-to-Earn (P2E) game is another innovation that will boost the overall value of the ecosystem.

This game will have a free and paid version where users can purchase game credits for access to an exciting future. So far, the community response to the Sponge V2 is positive.

According to crypto analyst Jacob Crypto Bury, SPONGE is headed to the moon.

We were just getting started with Sponge V1. Don't miss your chance to join #SpongeV2!

Proven 100x potential
12,000+ Holders
10+ Exchanges
30k Strong community

Get ready to absorb more DAMP! #Web3 #Crypto #AltcoinSeason pic.twitter.com/4YghSPit8e

— $SPONGE (@spongeoneth) January 18, 2024

Also, the developers believe that Version 1 is just a shadow of what Version 2 will become. With a community of over 30,000 followers, Sponge V2 will reward early investors when it lists on top exchanges.

So, investors can securely purchase these tokens from the official website with any of the options available.

Bitcoin Minetrix (BTCMTX) – The Reliable Cloud Mining Solution

Bitcoin Minetrix is closing in now on their sale, and fairly, there are just a few more days before it ends. The targeted hard cap is at $9.5 million, and so far, the presale has raised over $9 million in the long run.

As a high-risk, high-reward token presale, you can use the last few days to potentially get involved in the growth journey of Bitcoin Minetrix, a revolutionary and tokenized cloud mining software.

The massive amount raised in the project’s presale so far has triggered excitement amongst the Bitcoin Minetrix community.

Lots of people are bullish about what could potentially happen next when BTCMTX finally launches on decentralized and centralized exchanges. Bitcoin Minetrix has appeared in several top stories on leading websites in the crypto space.

People are exploring its whitepaper to find out how it works to get an edge on its utility.

One of the most attractive attributes of the project so far is the staking platform integrated into the Bitcoin Minetrix website. BTCMTX holders can stake with 75% per annum rewards and even mine to earn more crypto coins.

ChatGPT Predicts BTCMTX’s Price along with other coins – What’s the future of Bitcoin Minetrix.

According to this generative AI technology (ChatGPT), the stake-to-mine model of Bitcoin Minetrix is one feature that could fuel 681% growth in the long run.

The AI tool further explains that Bitcoin Minetrix intends to reshape the mining system by adopting a “stake-to-mine” mechanism, which allows users to stake their coins and earn credits from cloud mining.

With these credits, they can automatically qualify for virtual Bitcoin mining. This method makes BTC mining accessible to many people without the lofty barriers to entry of specialized software or gear.

Furthermore, Bitcoin Minetrix has a substantial staking protocol for its token $BTCMTX, and so far, there are over 531 million tokens staked.

Considering the project’s ground-breaking features, ChatGPT is bullish on Bitcoin Minetrix’s value increase potential. With BTCMTX selling for $0.013 in its presale fundraising campaign, the project has already garnered more than $9 million, hinting at strong investor demand for the token.

Conclusion

While the top cryptocurrencies bleed, some investors see the retracement as a valid entry point before the rally continues. Bitcoin has dropped below $41,000, leading to a decline for most altcoins correlated to its price.

Nevertheless, some altcoins still record positive price moves based on massive community support.

Although most investors rely on unique strategies, proper research and risk management are vital. Also, the upcoming Bitcoin halving in April 2024 might be the catalyst to force a major rally in the crypto market in the coming weeks.

The post Top Crypto Gainers on January 22 – MANTA and FXS appeared first on The Tech Report.

Cardano (ADA) in Trouble as Price Drops Below 50-Day SMA – Time to Buy the Dip?

Nick Dunn — Sat, 20 Jan 2024 07:30:54 +0000

Cardano’s price is facing a tough situation as it slips below the 50-day Simple Moving Average (SMA). Not just ADA, even the entire crypto market is at a loss, down by more than 3%. Looking at the current trend, ADA is likely falling to $0.39. That’s a whopping 20.4% decrease from its present value of $0.49.

Despite this, ADA is still very bullish in the long term. This might be the time to buy the dip before the upcoming rally.

Cardano Price Recent Movement

Looking at the daily chart of ADA, its price has been going down for the past few weeks. The coin has made several attempts to break above this descending channel but failed due to the bearish pressure.

On December 28, the price broke out from this trend, but the momentum was too weak. The price dropped from $0.67 to a low of $0.47.

On January 09, the market changed trend and rose to $0.6. Unfortunately, the price also tanked again. According to CoinMarketCap, ADA is down 16% over the past month. Also, in the last seven days, the bears have still been in control, forcing a drop of 13.66%.

As of 7:29 a.m. EST today, January 19, the ADA price is $0.49, a decrease of over 3% in the past 24 hours. Nonetheless, there’s still hope for this coin to rise in the coming week. A top crypto analyst is super bullish on the coin if this happens.

Insights from Analyst Ali Martinez Point to Promising Trends Ahead

#Cardano's current consolidation phase mirrors its late 2020 behavior. If history repeats itself, we might see $ADA resuming its upward trend around April. This pattern continuation could potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7! pic.twitter.com/RuRA2EDMNP

— Ali (@ali_charts) January 19, 2024

Crypto expert Ali Martinez thinks Cardano (ADA) might see a big boost soon. He believes there’s a similarity between how ADA is behaving now and what happened in late 2020.

Looking at the past, Martinez suggests that if things go the same way, ADA could start going up again around April. His analysis indicates that if this pattern repeats, Cardano’s price might go up to $0.80 first, then correct a bit to $0.60, and finally shoot up to an impressive $7.

Cardano’s Whale Movement Surges to $13 Billion – Its Impact on ADA Price

Cardano whales have been quite active for the past few months. $13B in large transactions (>$100k) is being settled on Cardano daily on average. A significant amount, if you compare it to Ethereum's $5B 7-day average. pic.twitter.com/8rjeQZaonU

— IntoTheBlock (@intotheblock) January 18, 2024

Recently, IntoTheBlock posted on X that Cardano is experiencing a notable surge in activity. The tracking platform shared that ADA whales are making impressive transactions totaling $13 billion.

This movement is noticeable, especially when compared to Ethereum’s seven-day average of $5 billion.

This means that Cardano’s big transactions are much bigger than what Ethereum is doing in the same timeframe. It hints at a potentially significant shift in the behavior of big investors in the Cardano ecosystem.

Cardano Price Analysis: Technical Indicators Suggest Mixed Signals

Cardano has remained stuck in a descending channel on its daily chart for several weeks now. This downward-sloping pattern indicates ADA still faces bearish sentiments in the short term. ADA also trades below its 50-day moving average line currently.

Falling under this key average means ADA lacks the upside momentum needed to change the prevailing downtrend. However, the 200-day moving average sits below ADA’s price right now. Maintaining positions above this long-term average signals ADA has support and interest in higher timeframes.

The RSI indicator for ADA has also plunged near 30 into oversold territory. Oversold conditions indicate ADA has recently become extremely undervalued. This can foreshadow a potential reversal as the price picks up again. Overall, ADA faces mixed signals currently.

The descending channel and 50-day average positioning reflect near-term weakness. But the 200-day average and oversold RSI suggest an upside bounce could emerge.

If ADA breaks its channel to the upside and convincingly reclaims the 50-day average, it would confirm that the bulls have retaken control.

That would likely spark a sustained new uptrend. However, more extended declines look possible until clear trend change signals appear. If the channel and oversold RSI cannot spark an ADA relief rally, bears may dominate for a while longer.

But while ADA struggles, investors could diversify to a trending meme coin right now to maximize the emerging opportunity for more gains.

Cardano Alternative: Sponge V2

The first Sponge token became very popular in 2023. Based on this, its market value increased very fast to over $100 million in just a few days. Surprisingly, the team behind this project has decided to create a more advanced version called the Sponge V2.

This new version wants to replicate the success story of the previous one.

Currently, the project is on presale, and interested people can buy it at a very low rate. The project is not just looking to grow substantially; it plans to make things even better by developing exciting features.

These features will make Sponge V2 to be very much helpful in the community.

Sponge V2 Presale Offers Chance to Invest Early

The new token Sponge V2 is currently in its presale phase. Right now, the price is just $0.000824. Of course, this price is now very affordable for an average individual.

Following the success of Sponge V1, the V2 version expects massive growth, too.

That might not be an easy task, but with what’s in the pipeline, it’s possible to achieve this. Early investors also gain lucrative staking rewards. To join the presale, visit the official page and buy with ETH, USDT, or a Card.

The post Cardano (ADA) in Trouble as Price Drops Below 50-Day SMA – Time to Buy the Dip? appeared first on The Tech Report.

Top Crypto Gainers on January 19 – RNDR, SPONGE V2, and Bitcoin Minetrix

Nick Dunn — Sat, 20 Jan 2024 06:59:25 +0000

The retracement in the crypto market continues today with a decline of almost 2%, dropping the total market cap to $1.72 trillion in 24 hours. BTC almost dropped below $40,000 before rising above $41,000, showing price volatility.

This bearish outlook has influenced most altcoins to shed their gains in the last 24 hours. Also, the crypto Fear and Greed Index is neutral at 51, showing indecision among investors today.

Nevertheless, some altcoins still record gains due to massive community support and trust from investors.

Find more details about today’s top gainers below.

Render Token (RNDR) – The Artistic Token for Creators

Render Token (RNDR) has emerged as a top gainer in the cryptocurrency market, showcasing notable gains and a surge in trading volume.

As of the latest data on CoinMarketCap, RNDR’s price has experienced a 1.6% increase to $4.22, making it a noteworthy performer in the current market conditions.

Simultaneously, the 24-hour trading volume has risen by 23%, surpassing $172.4 million as of 7:09 am EST. One of the intriguing factors contributing to RNDR’s impressive growth is the presence of a substantial quantity held by a prominent wallet address on Etherscan.

This address currently holds an impressive 154.8 units of RNDR, equivalent to a staggering $659.8 million. Large holdings can exert considerable influence on a cryptocurrency’s market behavior.

In the case of RNDR, the substantial quantity held by a single address suggests confidence or strategic interest in the project.

This confidence could attract more investors and drive up demand for RNDR. The scarcity effect of a limited token supply, coupled with a strong belief in the project’s prospects, may have contributed to positive market sentiment fuelling the ongoing price surge.

RNDR Consolidates Around Critical Support Level – Can it bounce?

The chart above depicts the price movement of the Render Token against the United States Dollar in a daily timeframe. RNDR is now a few pips below the 50-day Simple Moving Average (SMA), suggesting a bearish market momentum throughout today.

Also, it has formed a bearish, engulfing candlestick pattern that suggests a further downtrend as sellers remain dominant in the market. The coin is trading between its support and resistance levels at $3.6355 and $4.5944, respectively.

This indecisive market movement suggests that the strength of the market contenders will determine the trend of the market.

If the sellers uphold their strength, pushing RNDR down, it could hit the $3.6355 support level and break below it. On the other hand, the resistance at $4.5944 could cause its price to stall once the level is approached.

Additionally, RNDR’s RSI is below 50 and moving down to the 49.75 mark.

If sellers remain active throughout the weekend, then the RSI could fall below 30 into the oversold region. However, the coin is still above its long-term moving average (200-day SMA), which means the overall market trend is still bullish in the longer term.

As a result, RNDR is likely to get a few dips before reversing to the bullish trend.

Again, its support at $3.6355 could attract buyers to enter low, triggering a bounce once the price touches that level. Given the mixed signals on the RNDR market, it’s advisable to adopt appropriate risk management practices to make the most of your trading decisions.

Sponge V2 (SPONGE) – The Return Of The Fun-Themed Crypto Project

$SPONGE Update!

We've hit a new milestone with 5,390,882,888 tokens staked, valued at $5,233,589.24!

With a current APY of +300% and a price of $0.0009663 (+18% increase), $SPONGE is stronger than ever.

Don't miss out, join the takeover! #SpongeV2 #Web3 #Alts pic.twitter.com/GMhqAnTehI

— $SPONGE (@spongeoneth) January 19, 2024

Sponge V2 has continued to make waves in the crypto sector as more investors join this exciting relaunch. According to a post on X, SPONGE has reached a new milestone with over 5.39 billion tokens stake valued at $5.23 billion.

These tokens were staked at an APY of 300%, with each token worth $0.0009663, which is an 18% increase. Based on this migration and relaunch, users must re-stake their SPONGE tokens from the Version 1 staking pool to Version 2.

Also, users who buy the tokens now have their tokens automatically staked in the Version 2 staking pool. So, interested users can swap their USDT or ETH for $SPONGE or purchase the tokens using a bank card.

Staked V1 tokens will be replaced with the equivalent amount of V2 tokens as a starting bonus.

Play-to-Earn Model Adds Utility To Ecosystem

Get set to explore the unique #PlayToEarn game in #SpongeV2!

Play, enjoy, and earn $SPONGE!

Visit our website to get involved before it's too late. #P2E #Bullish #MemeCoin #Web3 pic.twitter.com/bI8DLlgfA9

— $SPONGE (@spongeoneth) January 16, 2024

Sponge V2 introduces a Play-to-Earn (P2E) game model to boost utility in its ecosystem. Users can earn Sponge V2 tokens directly from gameplay, making it an exciting and rewarding experience.

Sponge V2 is not associated with Nickelodeon or SpongeBob SquarePants but hopes to create a unique identity of its own. Users who purchase the tokens early are at an advantage as the price will likely increase after its listing.

Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix (BTCMTX) emerges as a promising project poised to address critical challenges in the cryptocurrency space. Thus, it poses an attractive prospect for investors looking toward the future of crypto.

The project strategically targets one of the most pressing issues in the industry – the environmental and financial concerns associated with Bitcoin mining.

One of the primary issues facing the crypto community is the excessive energy consumption of data centers used for mining, particularly for leading cryptocurrencies like Bitcoin.

Secondly, the rising costs associated with mining have made it a prohibitive endeavor for many individuals, contradicting the decentralized ethos of cryptocurrency.

Bitcoin Minetrix (BTCMTX) steps in as a solution to these problems, offering a unique approach that sets it apart in the evolving landscape of digital assets.

Growth Drivers for BTCMTX Token

Unlike the conventional narrative where Bitcoin mining occurs predominantly in large data centers, Bitcoin Minetrix seeks to reinstate decentralization.

The project aims to make Bitcoin mining accessible to a broader audience, ensuring that individual control over assets is not compromised due to the barriers created by high operational costs.

The project introduces mining credits as non-transferable ERC-20 tokens obtained by exchanging staked BTCMTX tokens. These credits serve a singular purpose – to burn in exchange for mining time or a share of mining yields.

This approach not only enhances individual control but also ensures a more sustainable and cost-effective way to mine Bitcoin, aligning with the broader goal of making crypto environmentally friendly.

What further sets Bitcoin Minetrix apart is its innovative use of a stake-to-mine system, combining the concept of cloud mining with staking mechanisms.

Investors can stake BTCMTX tokens, giving them three options: they can sell their tokens after unstaking, hold onto them for an attractive annual percentage yield (APY) currently standing at around 74%, or opt to mine.

The success of Bitcoin Minetrix’s token presale, having raised over $8.8 million, is a testament to investor confidence in the project’s potential and revolutionary solutions.

The enthusiastic response from investors underscores the belief that Bitcoin Minetrix could emerge as a significant earner in 2024, making it a compelling investment opportunity in the dynamic and rapidly evolving cryptocurrency landscape.

Conclusion

Another consolidation phase is ongoing in the crypto market as prices of most assets decline. Nevertheless, some investors are focused on the long-term prospects of cryptocurrencies and their utility.

If Bitcoin recovers in the coming weeks, it will likely trigger a positive performance among altcoins in the market. However, the ongoing trend once again confirms that cryptocurrencies could be risky assets that require proper assessment and risk management. So, investors should be on their toes as usual.

The post Top Crypto Gainers on January 19 – RNDR, SPONGE V2, and Bitcoin Minetrix appeared first on The Tech Report.

Sui (SUI) Surges 5% As Market Witnesses Moderate Correction – Will It Hit $2 Soon?

Nick Dunn — Fri, 19 Jan 2024 06:50:29 +0000

Following a moderate correction in the broader crypto market, Sui (SUI) is making waves as its price sees sudden 5% gains today, January 17.

While the token has been performing excellently well over the past few days, surging over 115% to $1.40 from $0.62 in December, the rally stalled, and SUI reclined to $1.2.

However, in the early hours of today, a new bullish wave kicked in, pushing SUI above $1.32, with a 5% increase from a daily low of $1.26.

While many attribute the surge to a substantial spike in Total Value Locked (TVL), investors are optimistic about a continued ascent, with SUI eventually testing $2.

But can this happen soon? Let’s explore the possibilities.

SUI Price Action

Over the past two months, the Sui Network has enjoyed a bullish ride. After a period of slow movement, the coin embarked on an upward movement. Between November 20 and December 22, SUI’s price was trading around $0.68 – $0.50.

However, on December 24, the buyers added more momentum, and $SUI surged, increasing by more than 60% to touch $0.92. This parabolic move aligned with the hype around the broader crypto market.

But, still, the vertical spike quickly lost momentum, and $SUI lost some gains, declining to a low of $0.70, about a 30% decrease.

The coin remained this way till the first week of January 2024 before increasing 72% to $1.42, following a dramatic surge that began on January 10. This range allowed SUI to establish a new baseline while preparing its next move.

But SUI once again struggled to exceed resistance around $1.50 during the rally attempt.

It topped out and shed 15% just as quickly, down to $1.23. Despite the volatility in this coin, it’s still up by over 115% in the last month. Also, $SUI has recorded an increase of more than 20% in the past seven days. Right now, Sui cryptocurrency is valued at $1.24.

SUI Fight to Build Bullish Traction Following Rally Rejection

Presently, SUI is testing support around $1.20, an area pivotal in preventing further declines. However, if selling overwhelms $1.20, SUI may fall toward the $1.00 to $0.90 zone.

This lower range represents a key area on the chart from where SUI previously saw significant price action.

When assets leave imbalances like gaps in price history, they tend to revisit those areas later on. So, if $1.10 fails, SUI may fill the $1.00 – $0.90 imbalance before finding buyers.

On the positive side, SUI still trades above its 50-day simple moving average, currently around $0.82. This key average should act as support on any extended pullbacks, helping slow selling momentum.

Additionally, SUI’s RSI reading sits at 66 after the swift spike upward. This shows that SUI rapidly entered overbought territory on its sharp climb. In all, while SUI shows short-term weakness after its rejected rally, some key levels offer foundations if declines worsen.

However, until SUI can build sustainable upside momentum, risks remain elevated.

SUI Network TVL Hits New High – What’s Next?

Sui’s total value locked (TVL) has increased significantly over the past year. In mid-2023, the TVL was below $12 million, but just a month into 2024, it has soared past $360 million.

Although SUI’s TVL is still below giants like Ethereum and BSC, it has surpassed some notable players.

This just in – Sui flipped #BTC in TVL and now ranks 13th among all chains, per @DefiLlama!

Sui broke through the $300M mark in the process, just 48 hours after passing $250M.

It's no surprise when you see some of the incredible milestones Sui DeFi builders are achieving. pic.twitter.com/4bdPO8st40

— Sui (@SuiNetwork) January 14, 2024

For instance, Bitcoin’s TVL currently stands at $298.8 million, making SUI’s TVL significantly higher than that of Bitcoin. This significant increase in TVL demonstrates the network’s maturity and could positively impact SUI’s price.

An increased influx of liquidity into the SUI network may attract more investors, potentially fueling an uptrend for the SUI coin.

SUI Alternative, Sponge V2, Captures Massive Attention

Investors looking to diversify with coins with high upside potential may consider Sponge V2 as a worthy SUI alternative. Even though it’s new in the crypto space, Sponge V2 is already making waves.

As an upgraded version of the well-known meme coin Sponge (SPONGE), Sponge V2 has the potential for greater success than its predecessor.

Moreover, Sponge V1 grew rapidly to $100 million in market cap after a few days of launch, fetching massive gains for early investors. However, unlike Sponge V1, Sponge V2 isn’t just a valueless meme token.

It has a gaming feature that allows users to compete in races to earn rewards.

It also uses a staking model, where token holders can earn attractive APY by locking their SPONGE coins. The staking system has big potential, giving those who stake their tokens a good yearly return for the next four years. This makes SPONGE tokens more useful for owners.

Also, there is a stake-to-bridge feature that allows holders of the original V1 token to move to Sponge V2 by staking their SPONGE coins.

We were just getting started with Sponge V1. Don't miss your chance to join #SpongeV2!

Proven 100x potential
12,000+ Holders
10+ Exchanges
30k Strong community

Get ready to absorb more DAMP! #Web3 #Crypto #AltcoinSeason pic.twitter.com/4YghSPit8e

— $SPONGE (@spongeoneth) January 18, 2024

Over 5.1 billion V1 tokens are already staked in the platform, and more could be underway, given the popularity.

Sponge V2 has received endorsement from notable crypto personalities, including YouTuber ClayBro, with over 116 subscribers, who believe it to be among the top coins to invest in 2024. Visit the official website and purchase SPONGE coins using USDT, ETH, or a bank card.

The post Sui (SUI) Surges 5% As Market Witnesses Moderate Correction – Will It Hit $2 Soon? appeared first on The Tech Report.

Top Crypto Gainers on January 18 – FLR and SUI

Nick Dunn — Fri, 19 Jan 2024 05:49:12 +0000

Bitcoin’s hash rate has dropped this week due to freezing temperatures in Texas. Meanwhile, the crypto market remains essentially unchanged, with a total valuation of $1.77 trillion today.

While BTC struggles to break above $43,000, some altcoins record massive gains in the past 24 hours.

These altcoins benefit from vibrant community support and exciting developers such as DeFi, gaming, NFT, and on-chain government.

More facts and predictions concerning their price actions are captured in detail below.

Flare (FLR) – The EVM-Compatible Blockchain

Flare (FLR) has emerged as a notable frontrunner in the cryptocurrency market, showcasing significant price growth in recent times.

As of today, FLR has experienced a remarkable 8.32% surge, positioning itself as a top gainer among digital assets, trading at $0.02266.

The current bullish trend of FLR can be attributed to the groundbreaking partnership between Flare and Google Cloud. This collaboration has propelled Flare into the blockchain infrastructure sector, with Google Cloud participating as both a network validator and infrastructure provider.

Flare onboards @GoogleCloud as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.

Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data.https://t.co/bJF9yX7GrX pic.twitter.com/oGySMD4vVq

— Flare (@FlareNetworks) January 15, 2024

The announcement of Google Cloud’s involvement, particularly as a contributor to the Flare Time Series Oracle (FTSO), has not only validated transactions but has also added a layer of credibility to decentralized data within the Flare ecosystem.

The collaboration with a tech giant like Google Cloud not only solidifies Flare’s position in the blockchain space but also sets the stage for future partnerships, hinting at continued growth for FLR.

Notably, the partnership triggered a substantial surge in FLR’s market capitalization, exceeding $700 million, and a remarkable 20% increase in the price per FLR token.

Investors are now eyeing FLR as a promising asset with the potential for further price appreciation. As more alliances are forged, FLR stands as an enticing investment, showcasing not only its current strength but also its promising trajectory in the evolving landscape of blockchain and decentralized systems.

FLR Attempting Rally Above $0.226, Will The Bulls Prevail?

FLR has posted positive price action in the past week, with a notable price surge on January 15. Although it suffered a brief retracement between January 16-17, the buyers have regained control of FLR’s price today.

Also, the $0.0209 support has prevented a further decline for FLR, leading to a recovery.

FLR is currently testing the $0.0226 resistance level, and a break above it will continue the uptrend. The long upper wick of today’s candle suggests that the buyers are still attempting to break above $0.0226 with more pressure.

Moreover, FLR is trading above the 50-day and 200-day Simple Moving Average (SMA), which is a bullish sentiment.

Also, the 50-day SMA is above the 200-day SMA, hinting at a short-term rally for FLR. Furthermore, the Relative Strength Index (RSI) indicator shows price volatility in the past weeks with a zig-zag pattern.

However, the RSI is rising to the overbought zone above 70 with a value of 64.50. The entry into the overbought region signals further price gains for the asset.

Therefore, FLR will likely continue on its rally in the coming days if the buyers overcome its closest resistance at $0.0226. However, a rejection at this level could cause a decline below its support zone.

So, traders should watch out for the close of today’s candle for further confirmation.

Sui (SUI) – The Decentralized Smart Contract Platform

SUI continues to build on its gains in the past week as more buyers accumulate the tokens. Exciting developments in its ecosystem aided its gains in the past week and will likely lead to higher highs on the daily chart.

On January 14, SUI surpassed BTC’s TVL, breaking above $300 million. This confirms the rising interest from investors for the token.

Additionally, Sui’s programming language MOVE added some upgrades, such as macro functions. This provides developers with new methods to define data and call functions.

Get ready for #Move 2024 Edition, with major new features including Enums, Macro functions, and Method syntax.

Get building on Sui, the most performant blockchain, by increasing your Move knowledge today.https://t.co/DugViu0HxR

— Sui (@SuiNetwork) January 17, 2024

Some of the new updates are Method Syntax, Index Syntax, and Macro Functions, which will give developers a better experience. On the daily chart, SUI shows signs of a possible retracement as the buyers begin to cash in on long positions.

SUI Facing Resistance at $1.30, Is the Rally Over?

SUI is facing resistance at $1.30 after finding support at $1.24. It rallied between January 11 and 15 before a slight decline on January 16 as buyers began to take profits.

Today, the Relative Strength Index (RSI) indicator is dropping from the overbought region and approaching the neutral zone.

The RSI displays a value of 65.31, and if the indicator declines further, then the SUI will likely continue to decline on the daily chart. Furthermore, the Moving Average Convergence/Divergence (MACD) is dropping, suggesting that the sellers are gaining control.

Also, the fading green Histogram bars confirm an increase in selling pressure on SUI in the last 24 hours. Therefore, SUI will likely retrace to $1.24 in the coming days. However, if the buyers return, a recovery is expected after the brief decline.

Sponge V2 – The Relaunch Of The Fun-Themed Project

SPONGE V2 is a popular cryptocurrency inspired by the Sponge Bob Square Pants series. After enjoying massive success following its launch in 2023, the developers have re-strategized to create Sponge V2.

This version 2 represents a second chance for investors who missed out on the 2023 $SPONGE rally.

Visit our website and stake your $SPONGE to be part of V2's TAKEOVER.

Simple steps to significant rewards!

GO GO GO! #CryptoStaking #SpongeV2 #Web3 pic.twitter.com/3TF0HZIT9k

— $SPONGE (@spongeoneth) January 18, 2024

Why Version 2?

SPONGE V1 rewarded early investors nicely with massive profits. These investors took advantage of the hype and community support to make gains. Consequently, Investors who missed the $SPONGE early rally hoped for another chance to invest wisely.

Therefore, Sponge V2 is the perfect opportunity to stake a claim in the ongoing crypto revolution in the ecosystem. Users who staked their old $SPONGE tokens must withdraw their tokens from the V1 smart contract to re-stake in the new V2 pool.

New buyers do not need to worry, as staking is automatic after purchase. Stakers will reserve an equivalent amount of $SPONGEV2 tokens and enjoy staking benefits at a minimum APY of 40%.

Sponge Play-To-Earn (P2E) Game Adds Utility To Ecosystem

Sponge V2 not only repackaged the tokenomics but added utility to its ecosystem with a fun P2E game. Users can earn SPONGEV2 tokens while playing the game and ranking high on the leaderboard.

Ultimately, the goal of SPONGEV2 is to mop up liquidity from competition and give users a second chance. Also, SPONGEV2 hopes to list on top exchanges and have a minimum of 10,000 unique holders.

This race to a $100 million market cap begins after listing and relies on community support.

So, SPONGEV2 has transitioned from just a memecoin to a token of utility with long-term value assured through staking. Over 5 billion $SPONGE tokens have been staked, confirming the massive interest from investors in the token.

Bitcoin Minetrix – Mine and Stake to Earn

Bitcoin Minetrix has emerged as a top gainer in the crypto space today, captivating the attention of investors and enthusiasts alike. Its presale success and the variables driving its momentum present it as a compelling asset to consider for investment.

Bitcoin Minetrix has attracted much media attention and is a success in the crypto community.

Also, it has raised over $8.7 million USDT from its $9.5 million target. The high demand for BTCMTX reflects the rising interest in this cutting-edge cryptocurrency. So, the project’s innovative technology, strong community support, and strategic partnerships are likely contributing to its massive success.

Additionally, Bitcoin Minetrix relies on innovative technology based on its unique features and functions that differentiate it from other cryptocurrencies. Furthermore, its blockchain technology is designed to handle specific challenges and boost its overall performance.

Bitcoin Minetrix enjoys support from a strong community. Also, a large section of individuals and organizations are joining this revolution based on the utility of the tokens.

This support has led to a successful presale so far, and the late presale stages are moving investors into an accumulation frenzy.

Bitcoin Minetrix has formed strategic partnerships and collaborations with top crypto contributors. This will help the long-term vision of the project. Also, the partnerships have played an important in creating awareness and adoption of cryptocurrency.

Why Bitcoin Minetrix Is a Great Investment

Bitcoin Minetrix has exciting features that make it one of the hottest tokens in the crypto space. Its innovative utility and real-world application make it vital in the modern era.

It creates practical cloud mining solutions to counter the rising mining difficulty worldwide.

The Stake-to-Mine feature also makes mining accessible even for new investors without technical skills or knowledge. Miners can enjoy profit without paying for electricity and eliminating noise and heat, which are problems for traditional mining.

Also, expensive hardware and maintenance costs are not an issue since the cloud mining is done remotely by Bitcoin Minetrix. BTCMTX will be listed on top exchanges after the presale, likely leading to a further increase in its price and rewarding early investors.

Conclusion

Price volatility is a constant factor in the crypto market. However, altcoins still record gains, encouraging investors to diversify their crypto holdings. One common factor among the top gainers is exciting updates and developments in their ecosystems.

Additionally, crypto adoption and utility are growing with innovations such as the tokenization of Real real-world assets (RWA). Furthermore, Metaverse technology and networking events boost the community spirit and attract more investors who are willing to explore.

However, proper research and risk management are important to minimize losses and protect investments.

The post Top Crypto Gainers on January 18 – FLR and SUI appeared first on The Tech Report.

Top Crypto Gainers on January 17 – BEAM And WOO

Nick Dunn — Wed, 17 Jan 2024 22:59:21 +0000

The volatility continues to ravage the crypto market as Bitcoin struggles to recover its price form after the spot ETF approval. The fading excitement has provided a reality check for investors as prices begin to decline.

However, BTC formed its first Golden Cross on the weekly price chart, signaling a possible recovery.

While BTC struggles to rally, some altcoins are posting gains on the daily charts today, emerging as the top gainers in the crypto market. These altcoins depend on community and positive developments for their price gains.

Keep reading to find more exciting details about these altcoins and their possible price moves below.

BEAM (BEAM) – The Gaming Ecosystem

BEAM recorded a 7.3% gain on its price in the last 24 hours and 27.4% this week, confirming rising interest from buyers. BEAM has continued to champion innovations in the Web3 gaming sector, providing a review of notable events in the last quarter of 2023.

The state of gaming – Q4, 2023

From the leaked trailer of 6 to @Microsoft's industry-changing acquisition of Activision-Blizzard-King and Epic’s legal victory over Google

A lot has happened in the last quarter of 2023

Let's dive in! https://t.co/MkYxcyjyF2 pic.twitter.com/ZfdaDI8p9x

— Merit Circle (@MeritCircle_IO) January 15, 2024

According to its latest updates, many big shots pushed huge amounts of investments into the gaming sector, wherein BEAM operates, showcasing the increasing interest.

For instance, Microsoft emerged as a top three gaming producer after it acquired Activision-Blizzard King in October 2023. Also, in 2024, Merit DAO invested over $40 million in a collection of early-stage games over two years.

As investors’ interests and commitments increase in the sector, gaming ecosystems like BEAM will likely benefit through massive adoption and demand for its tokens. Meanwhile, on the daily chart, BEAM records impressive gains as more buyers invest in the gaming hype of the ecosystem.

BEAM Testing The $0.022 Resistance Level: Will It Break Above?

BEAM is an uptrend on the daily chart, continuing its positive price form in the last three days. Remarkably, it found support at $0.021 and is testing the $0.022 price level. A break above this level will continue the uptrend for the asset.

Also, BEAM is trading above the upper band of the Donchian Channel (DC), which is a bullish sentiment hinting at a continuation of the rally. Additionally, the Relative Strength Index (RSI) is close to the overbought region above 70, with a value of 62.07.

The RSI is rising, indicating that the buyers are still active in the market. The sentiment on the price chart confirms that BEAM will likely continue to record more gains in the coming days. However, buyers must watch out for a retracement once the RSI indicator enters the overbought region.

WOO (WOO) – The Liquidity Network

WOO Network’s native token, WOO, has experienced significant growth in recent times. The price has surged by more than 17% on the monthly price gain record on CoinMarketcap and is further increasing today by 5.3%.

As of 5:54 am EST, WOO is trading at $0.45 per token and, thus, boasts a market capitalization nearing $820 million.

The surge in $WOO can be attributed to its unique blend of decentralized finance (DeFi) and centralized finance (CeFi) through the WOO Network.

The ecosystem consists of two main components: a centralized exchange providing top-tier price execution, WOO X, and a multi-chain decentralized application (dApp), WOOFi, offering to earn products and an on-chain order book.

Click the link below to start trading on WOO X today https://t.co/vY3e3xwANy

— WOO X (@_WOO_X) January 16, 2024

The driving force behind the pump is the attractive incentives for $WOO stakers. Those who stake $WOO tokens earn a significant 80% of the fees generated by WOOFi. Additionally, stakers on WOO X enjoy benefits such as zero-fee trading and free withdrawals.

The recent market volatility has further boosted the profitability of trading dApps like WOOFi, leading to substantial yields for $WOO token holders. As the yield grows, the ownership of $WOO becomes more desirable, creating a positive feedback loop.

The unique positioning of WOO Network allows it to cater to both institutional clients through its CeFi services and regular clients through its DeFi services.

Experts foresee a resurgence of centralized service providers in the current market cycle, and WOO Network is well-positioned to capitalize on this trend.

Traders, recognizing the potential and benefits offered by WOO Network, are actively bidding on $WOO, contributing to its significant surge in value.

WOO Forms Bearish Double Top Pattern – Where Will It Move To?

The candle sticks pattern in the chart above shows WOO in a slightly ranging market structure. Its horizontal trend is hinting at a potential breakout at the upside or the downside.

However, based on signals on other indicators, WOO could break the market structure, commencing an uptrend in the coming days.

The coin’s price is above its 50-day and 200-day SMA, which serves as dynamic support levels in the market. Also, WOO’s trading price is high above its horizontal support level at $0.375, indicating a level for potential bounce if any dip occurs in the long run.

Moreover, the Relative Strength Index (RSI) is at 58.01, pointing upward.

This movement shows that WOO is approaching the overbought market zone (above 70), which means that buyers are getting stronger and more active than sellers. If this strength is maintained by the buyers, WOO’s RSI will hit the overbought market zone before the weekends.

Conversely, the price action represented on the candles in the last 30 days (December 14, 2023) shows that WOO has formed a double-top candlestick movement.

Given the effect of such a pattern, it’s likely that the increased strength of sellers during the coin’s pullback in the future could trigger a breakout below the support at $0.375.

Besides that, WOO’s overall market trend is bullish, so its price is expected to move uptrend by the next week. However, traders must pay attention to the RSI indicator’s entry into the overbought region as a signal for the next accumulation phase.

Bitcoin Minetrix (BTCMTX) – The Cloud Mining Solution That Works

Bitcoin Minetrix ($BTCMTX) is an exciting project that offers investors access to Bitcoin mining with ease. Currently, BTCMTX has crossed the $8.6 million milestone in its presale.

This confirms massive interest from investors. Bitcoin Minetrix is modern and innovative.

Its cloud mining solution simplifies mining for newcomers to join the process with ease. Additionally, BTCMTX uses a stake-to-mine mechanism and a simple dashboard that allows individuals to stake their tokens in exchange for BTC mining credits.

This unique model makes BTC mining quite easy and enhances security. Also, it protects its users from theft and attacks. Remarkably, Bitcoin mining is made accessible to all miners irrespective of region since they can access cloud mining with ease.

BTCMTX Presale Raising Massive Interest from Investors

Bitcoin Minetrix hopes to create a decentralized market and make mining accessible to users without discrimination. So, users can stake their $BTCMTX tokens, and each is currently worth $0.0129.

With Bitcoin Minetrix, users do not need to sign agreements and are safe from cloud mining scams.

Also, Bitcoin Minetrix provides solutions to retail investors seeking a passive income source, eliminating common risks and mining costs. Additionally, problems such as heat and noise associated with mining are eliminated.

With the rising costs of electricity, BTCMTX provides practical solutions for investors.

Notably, top crypto analysts Austin Hilton and Michael Wrubel endorsed BTCMTX, believing in its long-term potential. Therefore, BTCMTX will likely be one of the breakout tokens of 2024 due to its utility and the rising value of Bitcoin.

BREAKINGGlobal banking giant Standard Chartered says $50-$100 BILLION could flow into #Bitcoin ETFs in 2024 pic.twitter.com/yQobJcs6EA

— Bitcoin Archive (@BTC_Archive) January 8, 2024

Any positive effects on the broader BTC market can potentially boost the value of $BTCMTX, translating into rewarding returns for investors.

So, the Bitcoin Halving will increase mining difficulty, and the Bitcoin Minetrix is well-positioned to help miners benefit from this event.

As the presale progresses and with the potential for a 10X to 50X surge, Bitcoin Minetrix emerges as a profitable and ideal investment opportunity, combining accessibility, security, and growth potential in the ever-evolving crypto space.

Sponge V2 (SPONGE) – The Memecoin with Utility

SPONGE V2 has gained 3.1% on its price in the past 24 hours as more buyers rush to accumulate the tokens. The stake rewards are quite unbelievable and are the main attraction point for new investors after the launch of Sponge V2.

After the 100X surge of V1, #SpongeV2 is poised for even greater heights!

Stake now for 40% + APY! #AltSeason #MemeCoin #Approved pic.twitter.com/G6w49dODEc

— $SPONGE (@spongeoneth) January 17, 2024

After the success of Sponge V1, Sponge V2 is set for an improved performance in the market, judging from rising investor interest. Users can stake their tokens to earn a share of 40% of the total supply as rewards determined by the APY.

According to the Whitepaper, Sponge V2 seeks to add more utility to the ecosystem with the launch of its Play-to-Earn (P2E) game. Also, the bridging of tokens from V1 to V2 will be done through the staking of $SPONGE tokens.

Any token in the V1 token staking pool must be withdrawn and re-staked in the new staking pool. This is because the V1 staking pool will be closed, and all tokens must be withdrawn.

Additionally, new buyers who do not hold any tokens can purchase them from the official website.

Sponge V2 Hits Important Milestones

After the 100X surge of V1, #SpongeV2 is poised for even greater heights!

Stake now for 40% + APY! #AltSeason #MemeCoin #Approved pic.twitter.com/G6w49dODEc

— $SPONGE (@spongeoneth) January 17, 2024

All newly purchased tokens will be staked in the V2 smart contract to secure a share of the V2 token after its launch. Over 5.1 billion tokens are already staked, confirming the rising interest from investors.

Ultimately, the goal is to list Sponge V2 on bigger exchanges and focus on the game development. Also, the Sponge Game app will launch in the future as it enters a race for a $100 million market cap.

Conclusion

The crypto market is relatively stable in 2024, with price volatility noticed in the first few weeks. While Bitcoin’s dominance affects the prices of most altcoins, some others still post price gains based on a strong ecosystem.

Also, the slump in BTC’s price has allowed investors to diversify to other altcoins for short-term gains.

Nevertheless, proper research and risk management are vital to prevent devastating losses. Also, all investors must understand that external factors such as inflation or government policies could affect cryptocurrency prices.

The post Top Crypto Gainers on January 17 – BEAM And WOO appeared first on The Tech Report.

Beam Surges With Three Consecutive Green Candles – What’s Next for Investors?

Nick Dunn — Wed, 17 Jan 2024 22:17:30 +0000

For the past few days, BEAM coin has been moving upwards. The coin has been performing in a bullish pattern. With the growth trend, investors are buzzing with anticipation of a possible $0.0274 mark.

Now, the big question is, will BEAM keep soaring high with more buyers joining the race? Or is a pullback correction coming soon from profit-taking investors?

Let’s check the possibilities below.

Beam Recent Price Movement

BEAM underwent a bullish rally during the past two months amidst crypto volatility. The price rallied to a high of $0.0274 on December 13, 2023, representing an increase of over 550% from a low of $0.004 on November 06.

Unfortunately, this price increase was short-lived as people started to take out some profits.

After declining from highs near $0.03 in late 2023 to under $0.0135 by January 2024, BEAM staged a furious recovery back to $0.022, a 62% spike within a few days. BEAM’s parabolic move aligned with broader industry hype around the Bitcoin ETF listing. However, the vertical rally proved unsustainable.

BEAM quickly erased some of its gains again and returned to $0.0172 just days later as excitement faded. Still, BEAM discovered a new support level following the correction, consolidating between $0.172 and $0.018 for a few days.

This level triggered a bullish sentiment in the market and a BEAM rally. At the moment, Beam ($BEAM) is trading at $0.02268 with a volume of more than $70 million.

According to CoinMarketCap, in the past 24 hours, the coin has recorded an increase of 8.76%. Even in the last week, it has gained more than 20%.

Despite the price volatility and slight drop, it’s up 24% over the past month.

Beam Price Analysis: A Breakout Scenario with Key Resistance Ahead

BEAM currently trades above the upper band of its Bollinger Bands indicator. Usually, when a coin breaks out above the bands, it signals increased volatility and upside momentum. Presently, BEAM aims to retest its previous resistance around $0.02774.

Sustaining this bullish trajectory depends on buyers’ ability to maintain control as BEAM approaches this hurdle. However, if momentum falters, BEAM risks slipping back inside the Bollinger Bands. This would paint a bearish picture of a fading rally.

Further pullbacks could unfold if BEAM closes back below the bands. If the price falls, we should keep an eye on levels around $0.0172 and $0.0076. On the positive side, BEAM’s RSI reading has surged to 61.

This means BEAM bounced sharply from oversold levels below 30.

The rapid rise in RSI reflects a heavily strengthening upside momentum. Overall, while BEAM is breaking out, sustaining the uptrend matters most. Keeping gains intact above the upper Bollinger Band and previous resistances would validate the rally’s durability.

Exosama Community Brings Dremica to Beam – Will this Affect BEAM Coin?

The @ExosamaNFT collection

Did you know the Exosama community is coming to @BuildOnBeam with their latest release @DremicaOfficial

It's all because of @DonnieBigBags who's a long-time supporter of the DAO https://t.co/r8Gx9K4GsE pic.twitter.com/sIr7W8kcRM

— Merit Circle (@MeritCircle_IO) January 16, 2024

Recently, there has been a positive announcement in the Beam’s community. The Exosama community is bringing their latest release, Dremica, to Beam.

According to the post, this is all thanks to the strong support of a dedicated backer of the DAO, DonnieBigBags. This announcement was shared on the X platform on January 16, and it has notable significance for BEAM’s price.

DonnieBigBags’ long-standing support suggests confidence and loyalty to the project. As a prominent figure in the community, his endorsement can attract attention from other investors. Of course, when more people show interest in BEAM, demand tends to rise, potentially influencing an uptick in the coin’s value.

Beam Potential Alternative – Sponge V2, Next 100x Coin

Sponge V2 stands out as a strong contender ready to shake the entire market. Sponge V2, the new and improved version of the well-known meme coin Sponge (SPONGE), wants to continue the success of the first one.

The original SPONGE became really popular in 2023 and quickly reached a $100 million market value.

As such, many early buyers made huge returns on their investments. Now, Sponge V2 is planning to make things even better by adding features like staking rewards and play-to-earn options. This makes the Sponge system more valuable and exciting for people using it.

Can Sponge V2 Match the Success of Its Predecessor?

After the 100X surge of V1, #SpongeV2 is poised for even greater heights!

Stake now for 40% + APY! #AltSeason #MemeCoin #Approved pic.twitter.com/G6w49dODEc

— $SPONGE (@spongeoneth) January 17, 2024

Sponge V2 is now in its presale phase, and it is offering early investors a chance to get the token before the official launch. The price ($0.000824) right now is very cheap for anyone to afford without stress. Further, early adopters stand to gain lucrative stake rewards.

Not only that, but the project has gained attention from crypto experts and top publications, and this adds credibility. Following the success of Sponge V1, Sponge V2 expects insane growth. Past presales have led to substantial market gains.

The current positive mood in the crypto market suggests Sponge V2 might have a similar path. Sponge V2 has 150 billion tokens distributed for play-to-earn incentives, game development, marketing, staking rewards, bridged SPONGE tokens, and CEX liquidity.

Their play-to-earn game comes in free and premium versions. It lets players earn SPONGEV2 tokens and climb the leaderboard. With these unique features, Sponge V2 aims to outperform other meme tokens like Pepe.

To be part of this project now, visit the official page and buy the token with ETH, USDT, or Card.

The post Beam Surges With Three Consecutive Green Candles – What’s Next for Investors? appeared first on The Tech Report.

Top Crypto Gainers on January 16 – KLAY, FLR, and CHZ

Nick Dunn — Wed, 17 Jan 2024 06:20:31 +0000

The global crypto market did not record significant changes in the last 24 hours, as Bitcoin remained in the $42,000 range. Although there is no certainty on the next price direction, the Bitcoin Halving in April will likely trigger another rally.

Despite massive capital inflow in Bitcoin ETFs, the market has continued to decline in the short term.

Nevertheless, some altcoins still post positive performances in the last 24 hours. These altcoins are driven by passionate community support and positive ecosystem developments.

So, while BTC enters a retracement phase, investors are backing other crypto to take profit in the short term.

Klaytn (KLAY) – The Business-oriented Public Blockchain

KLAY is trading at $0.225, with an 18.3% increase in the last 24 hours. Remarkably, it gained 30.9% in the last seven days as buyers continue to support its uptrend.

Some recent events in the ecosystem could be triggering the massive investor support seen in KLAY.

For instance, Klatyn Foundations announced a merger between the Klatyn and Finscha blockchains to create Asia’s largest Web3 ecosystem. This merger will create an ecosystem of over 420 DApps and create a user base of over 250 million across Asia.

We weren’t joking when we said 2024 is going to be wild – we’ve just submitted a governance proposal to merge the #Klaytn and @finschia blockchains to create Asia’s largest Web3 ecosystem! Details below https://t.co/rNsqxxjBsj pic.twitter.com/mvJHPGdYof

— Klaytn (@klaytn_official) January 16, 2024

Also, the proposed new blockchain will support EVM and CosmWasm, enabling builders to have access to the benefits of the two ecosystems. Additionally, a new native coin will be issued with a low inflation rate, a three-layer burning model, and a Zero Reserve strategy.

So, all KLAY and FNSA holders will be able to swap their tokens for this new coin when it is issued. Furthermore, the governing council of Klaytn and Finschia will be unified to create Asia’s largest decentralized governance hub.

This merger boosted the price of KLAY as it gained almost 28% in the daily timeframe.

KLAY Finds Support at $0.192 Will It Break Above $0.225

KLAY is currently testing the $0.225 resistance level after finding support at $0.192. It has formed a second consecutive green candle on the daily chart after a brief retracement on January 14.

The large green candle formed today suggests that the buyers are active and seek to move KLAY’s price higher.

Also, the Relative Strength Index (RSI) indicator is rising with a value of 55.25 above the neutral zone. If the RSI breaks above 60, then the uptrend will likely continue in the coming days.

Additionally, the Moving Average Convergence/Divergence (MACD) indicator has crossed above its signal line, forming a buy signal.

This signal is confirmed by the green Histogram bar on the chart today. Therefore, KLAY will likely close above $0.225 and record higher highs in the coming days if the rally is sustained.

Flare (FLR) – The EVM-Based Utility Blockchain For Data

FLR is among the top gainers today, recording a 16.5% increase in the last 24 hours to trade at $0.0205. Also, it is up 16.9% this week as more investors begin to adopt the tokens.

FLR recorded gains in the past 24 hours after announcing the integration of GoogleCloud as its infrastructure provider.

Also, Google Cloud will serve as a data provider retrieving data from external sources to supply to the FTSO system. Additionally, it will provide accurate and decentralized data feed for smart contracts by Flare.

Flare onboards @GoogleCloud as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.

Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data.https://t.co/bJF9yX7GrX pic.twitter.com/oGySMD4vVq

— Flare (@FlareNetworks) January 15, 2024

Google Cloud will help to validate the network and contribute to the Flare Time Series Oracle. This confirms Flare Blockchain’s commitment to becoming a data hub for its users.

Furthermore, Google Cloud will provide financial and technical support to Web3 builders on Flare through the Google for Startup Cloud Program. These developments are quite exciting, although FLR still faces resistance on the daily chart.

FLR is Facing Pressure from Sellers. Will it Drop Below the $0.0204 Support?

FLR is under bearish pressure, forming a red candle today after a massive rally to break above the $0.0204 resistance level on January 15. Remarkably, FLR flipped the $0.0204 resistance level to support and is testing the $0.234 price level.

The red candle formed today is likely due to traders closing long positions to scalp profits. However, FLR still trades above the upper band of the Donchian Channel (DC), which is a bullish sentiment.

This implies that the retracement is likely a temporary phase, and FLR will likely rebound again.

Even though the RSI indicator is at 58.85 in the neutral zone and facing downwards, it will likely retrace to the upside once the buyers re-enter the market. So, FLR traders must watch out for price volatility and a likely rally for the asset in the coming days.

Chiliz (CHZ) – Leading Digital Asset for Entertainment and Sports

CHZ, which was valued at $0.0809 in the last 11 days, has climbed to $0.1042 today, January 16, 2024. As of 7:21 am EST, the coin surged by 20%, with its 24-hour trading volume up by 358.57% to $225.9 million.

Chiliz (CHZ) is the primary digital currency for sports and entertainment from the Malta-based FinTech provider.

Also, it operates the Socios blockchain platform. This platform allows users to engage in the governance of their favorite sports brands actively.

Fooballcraft is coming to you in 2024!

Have a look at the roadmap to see all the upcoming releases of @FootballcraftFC's Web3 & AI-Powered 12x speed football simulator by @TopGoal_NFT. #ChilizChain $CHZ pic.twitter.com/yT5lp3UKnS

— Chiliz ($CHZ) – The home of SportFi (@Chiliz) January 11, 2024

The introduction of fan tokens on Socios.com exemplifies this interaction, providing a unique way for sports clubs and associations to connect with fans and create new revenue streams.

One key factor contributing to the increase in the value of CHZ, Chiliz’s native token, is the innovative use of fan tokens.

These tokens empower fans to influence club-related decisions through surveys and polls, giving them a direct role in aspects like choosing messages for the captain’s armband.

Also, Chiliz has formed significant partnerships with renowned sporting institutions globally, including FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain.

Collaborations with the UFC and gaming organizations have further strengthened its position. The integration of fan engagement, partnerships with top sports entities, and the unique utility of CHZ as a gateway to fan tokens are key variables contributing to the increasing value of Chiliz’s token.

CHZ Forms Consecutive Green Candles on Impulsive Move – Will the Uptrend Continue after the Retracement?

In the chart above, CHZ has commenced a series of higher highs and higher lows, which indicates a trending market structure. As such, the market is on an uptrend, suggesting price appreciation in the coming days to weeks.

Also, the Relative Strength Index (RSI) is at 79.80 and is moving upward in the overbought region (above 70). The support levels for CHZ are $0.92 and $0.97.

Considering the market structure routine, including an impulsive and retracement move, it’s clear that CHZ could retrace in the coming days before taking another impulsive move.

If the pullback hits the supports before the impulsive move, then it’s clear that buyers are winning and thus pushing the price of CHZ higher. But if the pullback breaks the horizontal supports and fails to return to the upside during its impulsive move, then the sellers are in charge.

Meme Kombat – Battle with Memes for Crypto Coins

Gaming crypto projects are attractive because they merge two popular realms – cryptocurrency and video games. These projects often involve online games where a cryptocurrency serves as the in-game currency.

Players can use this digital currency to make in-game purchases, and some games follow a play-to-earn model, allowing players to earn cryptocurrency as they achieve tasks.

Meme Kombat stands out for its unique and playful approach, injecting excitement into the crypto world by merging meme culture with tokenized battles. Also, Meme Kombat introduces randomness and unpredictability to each battle, making it exciting for participants.

MK tokens are used for wagering on these digital clashes, providing potential profit for accurate predictions. Winners in the arena can participate in integrated staking, offering a chance to diversify their holdings and earn annual percentage yields of up to 138%.

The game’s unique concept aims to attract a broad audience, from casual players to dedicated fans of specific meme coins. This not only enhances the enjoyment of the game but also increases the potential value of $MK tokens.

As enthusiastic fan communities join the platform, the demand for $MK tokens rises, potentially contributing to the coin’s price growth.

Meme Kombat Token Sells Fast – Can MK Presale Reach $7 Million Before Weekend?

Meme Kombat’s presale is experiencing strong demand, nearing the impressive funding milestone of $7 million out of its $8 million goal.

With heightened interest, the project plans to list on Uniswap post-presale, allowing the market to determine the value of MK—an exciting prospect for the project’s community.

$6.9 million! NICE!

We are pushing closer to $7 million raised in the $MK presale and we couldn't be happier! pic.twitter.com/A7hdOJ0j2p

— Meme Kombat (@Meme_Kombat) January 16, 2024

Potential investors looking to participate in the presale can acquire MK tokens by visiting the project’s website and making purchases using Ethereum (ETH), USDT, or Binance Coin (BNB).

In contrast to the typical characteristics of meme coins, characterized by secretive teams and unpredictable tendencies leading to a lack of transparency.

Meme Kombat, led by Matt Whitman in the Netherlands, prioritizes accountability and security. This departure from the norm, emphasizing functionality and transparency beyond marketing, distinguishes Meme Kombat from other meme currencies.

Sponge V2 (SPONGE) – The Return of the Classy Memecoin Project

SPONGE V2 has faced price volatility in the last 24 hours. However, it records massive interest from investors keen on staking their tokens for rewards.

Huge Milestone Alert!

We've just surpassed an incredible 5,010,192,318 $SPONGE tokens staked, valued at $3,998,276.67!

With a current APY of over 300%, our community is thriving like never before.

Join us now and absorb the damp! #SpongeV2 #Crypto #Altcoins pic.twitter.com/KIVvh77dQZ

— $SPONGE (@spongeoneth) January 15, 2024

Impressively, over 5 billion tokens have been staked, valued at $3.99 million. Currently, the APY is over 300%, which is attracting more investors daily. Users who buy or stake $SPONGE tokens will earn SpongeV3 as a benefit.

The developers hope to move SPONGE from Version 1 to 2 by transitioning to new staking pools and bridging tokens. On the daily chart, $SPONGE is facing resistance after an impressive rally in recent weeks.

Conclusion

Uncertainty is a common factor in the crypto market, as the retracement in the last few days halts the early 2024 rally. As the early Bitcoin ETF hype dies down, investors have begun to embrace other altcoins with profit potential.

Notably, 2023 ushered in fierce competition in terms of development among most crypto ecosystems.

This trend will likely continue in 2024 and beyond as mainstream crypto adoption continues to expand. However, investors must always remain aware of the risks associated with crypto trading and conduct proper research.

The post Top Crypto Gainers on January 16 – KLAY, FLR, and CHZ appeared first on The Tech Report.

Dogecoin Price Prediction: Is DOGE Set to Rally 30% to $0.10

Nick Dunn — Wed, 17 Jan 2024 05:42:53 +0000

After a few weeks of high volatility in the price of Dogecoin, there has been a renewed positive sentiment. The giant meme coin printed series of red candles from December 10 – January 06. But, following the ETF approval, the coin seems to be changing direction, moving upward.

Based on its recent movement, famous crypto analyst Ali Martinez made a bullish projection for DOGE.

Dogecoin Price Today

Despite trying to go up well last week, Dogecoin is not doing as expected today, January 16, 2024. Its price is $0.817, showing a slight increase of almost 1%.

Even though it’s not growing fast today, Dogecoin has increased by more than 4% in the past week.

This is good to hear, especially as the broader crypto market is recovering. Also, DOGE’s trading volume in the last 24 hours has increased by over 19%. Right now, it’s at $299 Million, showing that more people are buying and selling Dogecoin.

Looking at the chart, Dogecoin went above $0.90 before dropping below $0.081 on January 08. Since then, there has been a tug-of-war between the bulls and bears.

Though Dogecoin is volatile now, analyst Ali Martinez is bullish.

Why Does Ali Martinez Believe Dogecoin Might Hit $0.1?

Famous crypto analyst Ali Martinez recently showed bullish signals for Dogecoin. He highlighted a ‘buy’ indicator on Dogecoin’s TD Sequential chart.

The analyst believes Dogecoin can rebound to 10 cents ($0.10) or more if the current support around $0.074 holds.

The TD Sequential recently presented a buy signal on the #Dogecoin 3-day chart. As long as the $0.074 support cluster continues to hold, $DOGE has a great chance of rebounding to $0.100 or higher! pic.twitter.com/J9fm65nHkf

— Ali (@ali_charts) January 14, 2024

Chartier states Bot DOGE has a nearby resistance of around $0.088. Breaking above that barrier could propel Dogecoin up 45-50% based on the World of Charts forecast.

Trading pair: DOGE/USDT. Support observed around $0.078, resistance near $0.088. A sharp drop to $0.076, followed by consolidation. Price recovery failed at $0.088, forming local top. Current trend indicates possible resistance retest. pic.twitter.com/T9b4TDBc7t

— ChartAI Bot (@ChartAIBot) January 13, 2024

This analysis is more upside than Martinez’s prediction as it predicts $0.1276 or higher following a breakout. So, analysts broadly agree Dogecoin appears positioned for renewed upside if key levels hold. Also, Elon Musk may act as the catalyst.

In a recent interview, Musk reaffirmed his commitment to Dogecoin, stating he still holds a significant amount.

Musk said.

I still own a bunch of Dogecoin, and SpaceX owns a bunch of Bitcoin,

Given Musk’s immense influence, this vote of confidence could certainly ignite the Dogecoin community. In 2021, Musk’s tweets preceded Dogecoin’s historic run-up to 73 cents.

His vocal support helped drive hype and adoption among retailers. If Musk makes Dogecoin’s fans happy again, there’s a possibility that Dogecoin’s price may go up.

Analyzing Dogecoin’s Potential Recovery

Dogecoin is approaching its Bollinger Bands indicator’s simple moving average line. For weeks, Dogecoin remained stuck in a downtrend, printing lower lows and highs.

But just last week, its momentum shifted upwards. This change signals buyers are returning to push Dogecoin off recent lows.

Momentum indicators also look promising. Dogecoin’s RSI has risen from oversold levels below 30 up to 46 currently. This rapid RSI ascent reflects strengthening positive momentum aligning with the recent upward price trajectory.

If Dogecoin can sustain its momentum and reclaim its SMA line convincingly, it would confirm the new uptrend is solidifying. Additional resistance waits around $0.087. Exceeding this critical zone would mark a definitive trend change.

However, traders should be cautious until Dogecoin breaks back above key moving averages. Dogecoin must show that its improvement is for the long run and not just a temporary increase.

Importantly, it must keep making higher highs and lows to confirm its upward trend. If buyers stay persistent, Dogecoin could continue its path back up the charts.

Dogecoin Alternative to Consider – Sponge V2

Despite DOGE being highly volatile, there’s an opportunity for investors to explore. This opportunity is a new project known as Sponge V2, which is currently in presale. Given the historical performance of meme projects, this coin has the potential to yield insane rewards. But that’s for people who take the opportunity now.

The project has generated huge excitement in the crypto space. It is associated with Sponge coin, which saw an impressive 50x return.

Consequently, there is a heightened interest in not missing out on the potential success of this next ample opportunity.

$SPONGEV2 Introduces Play-to-Earn, Offering Token Rewards for Investors

Huge Milestone Alert!

We've just surpassed an incredible 5,010,192,318 $SPONGE tokens staked, valued at $3,998,276.67!

With a current APY of over 300%, our community is thriving like never before.

Join us now and absorb the damp! #SpongeV2 #Crypto #Altcoins pic.twitter.com/KIVvh77dQZ

— $SPONGE (@spongeoneth) January 15, 2024

$SPONGEV2 makes things even better by adding a new way to earn without stress. The exciting part is that you earn money while having fun. Investors can now enjoy and earn tokens simultaneously.

If you already have $SPONGE, stake it in the V2 pool to secure a share in the upcoming launch.

The staking feature gives an excellent opportunity for the long term as staked tokens offer a high yearly percentage gain for the next four years. This added benefit for SPONGE token holders and the stake-to-bridge option makes it attractive for new investors.

If you have the original V1 token, you can move to Sponge V2 using a bridging method. More than 5.1 billion V1 tokens are already staked, earning an impressive 323% yearly.

The project keeps everyone updated through social media like X and Telegram, though the exact date of the bridging event is still unknown.

If you don’t have V1 tokens, you can buy them and stake them in the bridge contract to get involved in $SPONGEV2. If interested, visit the official site and purchase the token with USDT, ETH, or a card.

The post Dogecoin Price Prediction: Is DOGE Set to Rally 30% to $0.10 appeared first on The Tech Report.

Cardano (ADA) Finds Support at $0.519 – Will it Make a U-Turn to $0.68?

Nick Dunn — Tue, 16 Jan 2024 06:35:18 +0000

Cardano (ADA) price rally has stalled following a few weeks of progressive rallies to levels above $0.6. Now, ADA seems to have found support around $0.519.

But it remains uncertain whether the token will make a U-Turn since a minor push from buyers could propel ADA head back to $0.68.

In the meantime, ADA trades at $0.53, with a 2% price decline as of 6:40 a.m. EST. But it still retains some of its past gains, with over 8.5% seven-day price increase, according to CoinMarketCap data.

But while ADA struggles with critical fights for control between buyers and sellers, the newly introduced Sponge V2 presents itself as a top alternative promising massive ROI for investors.

Cardano Price Action

Cardano’s price witnessed many ups and downs over the past two months amidst broader crypto market swings. After hitting 2023 lows near 30 cents in November, ADA surged over 150% in early December, climbing above the $0.60 region.

However, this rapid pump quickly lost steam, and by January 08, ADA was back down 50% to the $0.40 zone due to profit-taking. However, the token has renewed support after staging another steep rebound above $0.5 on January 11. That’s an insane 50% gain in just four days.

Yet heavy overhead resistance around the $0.6 region halted multiple rally attempts. This same level rejected ADA’s upside moves three times in 2022.

Looking at indicators, ADA briefly broke above its 50-day moving average during January’s spike before bearish sentiment weighed it lower again.

Despite constructing a series of higher lows, ADA still lacks bullish confirmation. While ADA shows some positive signs, substantial resistance and fickle sentiment keep its outlook uncertain in the short term.

Cardano Price Analysis: Analyzing ADA’s Mixed Signals

Cardano currently trades below critical simple moving averages, a setup that often signals that selling momentum has driven the price to oversold levels.

However, oversold conditions indicate the potential for an upward reversal as it presents opportunities for buy-the-dip investors to accumulate coins, increasing buying demand and pushing the coin upwards.

Cardano is also approaching the upper boundary of a descending channel (red line) that has contained its price action since December 2023. This descending structure reflects the long-term bearish trend.

But if Cardano manages to break above the upper channel line convincingly, it would show bulls overpowering the prevailing downtrend.

This would be a very positive sign for its trajectory. ADA’s RSI stands at 47 currently, signaling equilibrium between buyers and sellers. The next few hours are critical to ADA’s trajectory as the outlook of the struggle between the bulls and bears will determine if it will rise or fall.

A decisive breakout above its descending channel is needed to confirm the bulls are dominating again. ADA will likely recover the $0.6 level in the coming days if this happens.

Signs Point to a Bright Future for Cardano (ADA)

ADA might not be as popular as ETH or SOL right now, but this may change this year. The latest report from CoinShares reveals that ADA received $3.7 million in investments in the first week of January alone.

2024 is off to a strong start, with US$151 million in inflows! Total inflows since the Grayscale vs SEC lawsuit now stand at US$2.3 billion.

Notable asset inflows include:$BTC: US$113m inflows$ETH: US$29m inflows$ADA: US$3.7m inflows$AVAX: US$2m inflows$LTC: US$1.4m… pic.twitter.com/9wfshmqxsB

— CoinShares (@CoinSharesCo) January 8, 2024

This report shows that the Cardano network has recorded significant growth this year, building on its 2023 developments. With over 150 apps running and more than 1,300 projects building, Cardano is getting stronger.

This growth will likely rub off on ADA, propelling it to $1 in the coming months.

Another High Potential Project for 10x Gains

While established coins like ADA fight off bearish momentum, some traders are beginning to explore other options, of which SPONGE V2 appears among the top choices.

Daily Staking Update!

Today, a staggering 4,705,172,778 $SPONGE tokens are staked, with a total value of $3,944,150.86!

Plus, our holders are enjoying an impressive 343% APY.

Don't miss out on these remarkable rewards! #AltSeason #SpongeV2 #Crypto pic.twitter.com/b4i7vD0uTY

— $SPONGE (@spongeoneth) January 12, 2024

The stake-2-Earn Ethereum-based platform has garnered significant interest from investors due to its affiliation with Sponge Coin. Considering the success of Sponge V1, many believe SPONGE V2 is on its way to a 10 – 50x increase.

Notably, SPONGE V1 recorded incredible success in 2023, rising from a market cap of $1 million to more than $100 million, and Sponge V2 is set to replicate this achievement.

Moreover, Sponge V2 is not like most meme coins that lack utility. It has an exciting gaming utility that allows people to play and win rewards while staking their coins for impressive 323% APY yields.

The Next Big Presale for Exciting Growth Opportunities

Sponge V2 presents a second chance for many crypto folks who missed out on Sponge V1’s significant growth. With over 5 billion Sponge V2 tokens already staked, SPONGE is heading to the moon.

Huge Milestone Alert!

We've just surpassed an incredible 5,010,192,318 $SPONGE tokens staked, valued at $3,998,276.67!

With a current APY of over 300%, our community is thriving like never before.

Join us now and absorb the damp! #SpongeV2 #Crypto #Altcoins pic.twitter.com/KIVvh77dQZ

— $SPONGE (@spongeoneth) January 15, 2024

Now, trading at a low price of $0.000821 is the best time to buy Sponge V2 before it hits notable exchanges. Sponge V1 holders are not left out. They can stake their SPONGE coins and partake in the V2 benefits.

While it’s yet to be listed on popular centralized exchanges, Sponge V2 is available on leading DEX and Uniswa; expertss are bullish on Sponge V2, predicting a multiple-fold price surge in the coming weeks.

Interested investors should hurry to the official website and exchange ETH or USDT for Sponge V2 coins or buy from Uniswap.

The post Cardano (ADA) Finds Support at $0.519 – Will it Make a U-Turn to $0.68? appeared first on The Tech Report.

Top Crypto Gainers on January 15 – TON, SUI, XTZ, SPONGE V2, And Bitcoin Minetrix

Nick Dunn — Tue, 16 Jan 2024 05:18:29 +0000

Bitcoin’s retracement in the last three days has sent ripples across the broader crypto market. The crypto market cap has declined to $1.76 trillion as the early excitement for a Bitcoin ETF approval fades.

BTC has declined to $42,555 after touching the $47,000 price level briefly in the past week, dragging altcoins alongside.

Despite the widespread bearish sentiment, some altcoins still retain their gains. This resilience could be due to exciting developments within their ecosystems.

Toncoin (TON) – The Open Network For Developers

TON’s price at 6:44 AM. EST is $2.36, with a 3.9% increase in the past 24 hours. Also, TON recorded slight gains in the past week as buyers continued to sustain its gains.

TON’s gains are likely due to exciting developments within its ecosystem, including the recent partnership between Ton and Redstone to bring DeFi to the ecosystem.

According to the developers, Redstone is the first and only Oracle that provides data feeds on the Ton blockchain.

Brace Yourself, DeFi on TON is Coming

We're thrilled to announce that RedStone is the first and the only Oracle providing data feeds on @ton_blockchain

The integration starts a long-term TON <> RedStone initiative to foster DeFi on the blue chain.

Learn more pic.twitter.com/gogQwDJqOi

— RedStone Oracles (@redstone_defi) January 12, 2024

Moreover, TON holds the record for the fastest blockchain and achieved a TPS milestone of 104,715 transactions per second this year. The integration with Redstone marks a positive upgrade for Toncoin’s ecosystem.

Also, Redstone plans to unveil a smart contract template for easy integration and expand its data feeds to cater to the rising needs in finance.

TON Breaks Above $2.27, What Next?

From the daily chart, TON records modest gains as the buyers retain control of its price.

TON rallied on January 14 to recover from its downtrend and record price gains. It has formed a second consecutive green candle on the daily chart as more buyers enter long positions.

Remarkably, TON has broken above the $2.27 resistance level and is testing the $2.37 price level. A break above this level will likely move the rally to $2.4.

Also, TON is trading close to the upper band of the Donchian Channel (DC), expressing a bullish sentiment. The rising Relative Strength Index (RSI) of 57.56 confirms the bulls are striving to snatch control from the bears.

If the RSI indicator moves to 60, TON will likely break above the $2,37 resistance to record more gains in the coming days.

Sui (SUI) – Scalable Layer 1 Blockchain

There are a few variables why Sui (SUI) is on this list of top crypto gainers today. However, here are the most vital drivers. Backed by Mysten Labs, SUI made waves in the crypto market by surpassing Bitcoin in Total Value Locked (TVL).

According to on-chain data from a DeFi protocol tracking site, DefiLlama, SUI now ranks 13th globally, sparking a wave of optimism across its community and leading to a significant increase in the token’s price.

While SUI’s TVL is rising, Bitcoin’s TVL is gradually declining, coinciding with its recent price drop. The on-chain data from DefiLlama revealed that SUI exceeded Bitcoin’s TVL on January 14.

This just in – Sui flipped #BTC in TVL and now ranks 13th among all chains, per @DefiLlama!

Sui broke through the $300M mark in the process, just 48 hours after passing $250M.

It's no surprise when you see some of the incredible milestones Sui DeFi builders are achieving. pic.twitter.com/4bdPO8st40

— Sui (@SuiNetwork) January 14, 2024

The token crossed the $300 million mark just 48 hours after reaching $250 million, showcasing significant growth. Currently, SUI’s TVL is $334.94 million, attracting global attention.

In contrast, Bitcoin’s TVL is $292.2 million today, down from $295.63 million yesterday.

Despite market optimism following the ETF approval, Bitcoin’s TVL and price are both experiencing a decline. The higher total value of assets locked on SUI’s blockchain than Bitcoin reflects increased confidence and trust in the SUI token among crypto traders.

This confidence is further supported by the upward movement in SUI’s price charts. As of 5:30 AM EST, SUI’s price trades at $1.43, a price increase of 11.38% in the last 24 hours and a weekly gain of 86.62%.

SUI’s Resistance Becomes Second Support Level – Expect Longer Impulsive Moves

In the chart above, SUI has broken from a long-standing pattern, and new Higher Highs and Higher Lows are expected in the coming days. The robust and impulsive move represented by the three consecutive green candles confirms this assumption.

By breaking above the previous weekly resistance, SUI now has a new support level at the $1.17 mark. The 50-day and 200-day moving averages and the Relative Strength Index are other confluences to confirm the bullish momentum.

The 50-day and 200-day SMA are below the price of SUI, which is a bullish market momentum. Also, the RSI is at 78.11 in the overbought region (above 70). Considering all these factors, entering SUI for profit trading is advisable. Nevertheless, implement strategic trade setups and work with adequate risk management practices.

Tezos (XTZ) Smart-Contract-based Blockchain network

Tezos is a smart contract network similar to Ethereum. But unlike Ethereum, Tezos is designed to provide more advanced infrastructure, allowing it to evolve and improve over time.

XTZ holders can vote on proposals for protocol upgrades suggested by Tezos developers.

Excited about Web3 wallets and the Tezos ecosystem?

Watch the latest video here: https://t.co/KJSqWkfL0U

Perfect for those wanting a foundational understanding of Web3 wallets from a user's perspective.@beatkalipska

— Tezos (@tezos) January 15, 2024

XTZ has posted notable gains, staying above the 9-day moving average. If the price closes above the channel’s upper boundary, it might reach the resistance level of $1.15.

XTZ Forms 3 Consecutive Green Candles – What’s Expected?

XTZ’s price rose significantly in the last three days, showing stronger buy strength. The three consecutive green candles reflect buyers’ dominance, and if the momentum remains, XTZ could form a new series of higher highs, advancing to its critical resistance level at $1.49.

In line with this bullish signal, XTZ is trading above its 50-day and 200-day SMA, with a 63.98 RSI, approaching the overbought area. Should the sellers surpass the buyers, XTZ slips down to the support level at $0.64.

Meanwhile, the overall market sentiment is bullish. So, expect XTZ to hit new price levels in the coming days if all things remain equal.

Sponge V2 (SPONGE) – The Second Coming Of The Popular Memecoin

SPONGE shows price volatility today despite gaining 101% on its price in the past 14 days. The main activity driving growth in the Sponge V2 ecosystem is staking.

Sponge V2 offers up to 323$ staking rewards to holders who stake their SPONGE V2 tokens.

Existing $SPONGE holders, it's time to secure your share in the V2 launch!

Stake your $SPONGE now and be part of the exciting new journey.

Don't miss out! #CryptoStaking #MemeCoin #Alts pic.twitter.com/pTx2ytCUzy

— $SPONGE (@spongeoneth) January 14, 2024

Over 5 billion tokens have been staked, reflecting increased buy interest on the token. However, $SPONGE shows signs of a retracement as buyers begin to close long positions.

$SPONGE Encounters Resistance at $0.00089, Is The Rally Over?

SPONGE has formed two consecutive red candles on the daily chart after dropping below the $0.00081 price. However, it trades above the $0.00079 support.

The RSI indicator moves sideways with a value of 62.04, implying that buyers and sellers are evenly matched.

Although the Moving Average Convergence Divergence (MACD) indicator is above its signal line, the fading Histogram bars hint at a possible decline as sellers gradually gain control.

Therefore, SPONGE will likely retrace to the $0.00079 support before it begins its recovery in the coming days.

Bitcoin Minetrix – Fast-Selling Presale and BTC Mining Project

Bitcoin Minetrix’s crypto presale has achieved a remarkable milestone, surpassing $8.4 million. The standout feature, ‘Stake-to-Mine,’ democratizes access to Bitcoin mining, making it easy for users to contribute to Bitcoin’s hashing power without the need for specialized knowledge or equipment.

The platform simplifies the process for users to earn mining rewards by staking $BTCMTX, the native token of Bitcoin Minetrix, and gaining access to cloud mining power for BTC.

This innovative approach comes at a crucial time, considering the upcoming Bitcoin halving that will slash miners’ rewards and possibly make BTC more scarce.

Bitcoin Minetrix addresses the challenges of mining profitability by introducing the ‘Stake-to-Mine’ feature. This shields users from the need for significant upfront investments in mining rigs and hardware.

The platform allows users to stake $BTCMTX, earn credits, burn them to unlock cloud mining power, and receive direct Bitcoin rewards.

Additionally, users enjoy extra $BTCMTX staking rewards, enhancing the overall mining rewards. The decentralized structure and user ownership protect against the risks associated with predatory cloud mining scams.

Users control their staking lock-in period, providing increased peace of mind.

Beyond accessibility, Bitcoin Minetrix offers two profitable income streams: mining rewards and $BTCMTX staking yields. Also, it has an impressive 77% Annual Percentage Yield (APY), with over 500 million tokens already staked.

$8.4M+ Hit in BTCMTX Presale – Interest in the Project and Token Is Massive

Bitcoin Minetrix is experiencing a highly successful presale, gathering over $8.4 million out of a $15 million soft cap. Currently, $BTCMTX trades at $0.0128 per token and can be purchased using ETH, USDT, or a bank card.

The #PhoenixGroup secures a $187 million deal with @BITMAINtech for #Bitcoin mining machines, following their recent IPO and partnerships.

What's your take on their strategic moves?#BitcoinMinetrix also achieves another milestone and surpasses $8,200,000! pic.twitter.com/zoLvO5vxw6

— Bitcoinminetrix (@bitcoinminetrix) January 11, 2024

After the presale, the token’s price is expected to increase by 8% when it hits decentralized and centralized exchanges. Already, many people are engaging in the project, as confirmed by over 11K members on the official Telegram channel and 17.7K followers on Twitter.

$BTCMTX has gained attention from notable YouTube influencers who express bullish sentiments and predict potential surges in the token’s price. Jacob Bury consistently updates his YouTube channel and Discord with the presale information.

As the halving event approaches, Bitcoin Minetrix emerges as a compelling alternative, providing users with a convincing option to secure their share in the evolving digital finance landscape.

With its groundbreaking State2Mine approach, BTCMTX stands out as one of the best crypto to buy in 2024.

When it debuts on crypto exchanges, it is time to key into the project in anticipation of imminent price surges. To participate in the $BTCMTX presale, click on the visit link.

Conclusion

The retracement in the crypto market following Bitcoin’s retracement will likely attract some new investors willing to “buy the dip.” It confirms Bitcoin’s status as the apex cryptocurrency as its price changes influence the market.

As people expect BTC to rally in the anticipated bull run, diversifying portfolios with upcoming projects like BTCMTX and SPONGE V2 might be a step in the right direction.

However, it’s advisable to do thorough research and implement robust risk management measures as crypto is unpredictable, and prices may falter at any time.

The post Top Crypto Gainers on January 15 – TON, SUI, XTZ, SPONGE V2, And Bitcoin Minetrix appeared first on The Tech Report.

SUI Breaks $0.9 Resistance Zone as Investors Eye Sponge V2; Is It Still Worth Buying?

Nick Dunn — Fri, 12 Jan 2024 04:21:06 +0000

Since yesterday, January 10, the entire crypto market has been gaining significantly. This is likely linked with the successful approval of the spot Bitcoin ETF by the SEC.

Following this, coins like SUI went on a bullish ride. Based on its chart, the coin (SUI) broke the $0.90 resistance level.

But the question is: Can the bulls sustain the frenzy? Why the future remains uncertain, market participants remain optimistic that the bull market is underway. Amid this optimism, a new eye-catching meme coin has emerged with the potential for 100X returns in the coming weeks.

Sui Post Notable Gains as Bulls Persist; What’s Next?

The coin bullish today and may continue this way in the coming days. The token traded between $0.50 and $0.6 for most of November 2023.

However, thanks to the bullish sentiment in the broader market, SUI surged over 33% to a high of $0.80 from a low of $0.6 in late December.

But it wasn’t long after the upswing that profit-taking investors triggered a swift 20% retracement, pushing SUI back to $0.68 within days. The price of SUI later stabilized around $0.8 upon entering 2024.

This period saw SUI fluctuate between $0.79 and $0.87 as bulls and bears fought for control.

Surprisingly, after several days of consolidation, the bulls took charge, and SUI surged again, even surpassing the previous high to reach $1.032 on January 10. However, the $1.032 poses a significant resistance to further gains for the asset, so the upswing remains limited in the near term.

According to CoinMarketCap, in the last 24 hours, SUI has been up by 20% in the past week and has recorded a price increase of more than 24%. Also, the coin has gained over a 55% price increase in the last 30 days.

As of 5:56 a.m. EST, SUI is traded for $1.01 with an over 130% increase in 24-hour trading volume, hinting at increasing buy trades as the bulls persist.

SUI Network Surges: Record-Breaking Activity and Key Developments Propel Growth in 2024

A crypto analyst recently revealed that activity on the SUI Network has surged over the past three months. For example, trading volumes on SUI’s decentralized exchange spiked to new all-time highs.

Also, SUI’s total value locked recently climbed above $220 million, another record high since its launch last May.

Clearly, the network is gaining adoption and usage. Several key developments likely contribute to driving this activity and interest in SUI. One such is the newly launched decentralized app that allows developers to join coding challenges on the Sui network.

This expands SUI’s functionality and use cases. Another milestone happened when the SUDO token went live for minting on SUI on January 8, selling out rapidly. For context, SUDO powers a synthetic asset trading protocol, bringing more decentralized finance activity.

Overall, these developments showcase SUI’s burgeoning maturity. Moreover, more solutions running on the network make the SUI token more valuable. With so much positive momentum achieved within a few days in 2024, it’s clear why more investors want to buy SUI coins.

Sui Price Analysis: SUI Prints Huge Green Daily Candle, What’s Next?

Over the past 24 hours, the SUI token has posted a substantial gain, printing a large green candlestick on the daily chart. While the token rides the bullish wave, a little more charge from the bears might force a short-term retracement.

The 50-day moving average near $0.72 could act as support against a further dip.

Nonetheless, SUI still trades above its 50-day average, showing the strong uptrend remains intact for now. As long as it stays above this average, the bullish momentum has room to continue.

These technical alignments suggest that SUI’s rally could be sustained despite its rapid acceleration.

With buying interest clearly in control, SUI may keep running before topping out. But know that patience and prudent entries remain important amidst crypto volatility.

Sui Best Alternative: Sponge V2 – Next 10x Meme Project

While SUI is gaining today, investors are looking to diversify eye Sponge V2 as a worthy alternative. Given the historical record of meme coins, SPONGE has the potential to tread the paths of SpongeBob tokens and PEPE, giving early investors big rewards.

This thought excites investors and could be the reason for the ongoing rapid Sponge V2 accumulation.

Sponge V2: Your Next Big Crypto Opportunity with Easy Entry and Exciting Features

Daily Staking Update!

We've reached 4,600,326,590 $SPONGE tokens staked, currently valued at $3,963,388.83 with an impressive current 351% APY.

Join our thriving #SpongeV2 community today and grow with us! #AltSeason #CryptoStaking #Web3 pic.twitter.com/TV6JOfQssa

— $SPONGE (@spongeoneth) January 11, 2024

Investors who missed Sponge V1’s big growth think of Sponge V2 as a second chance to bag big gains. Unlike regular meme coins, Sponge V2 has an exciting gaming utility, “Sponge P2E Racer.” This game will help users earn tokens while having fun.

It has a staking mechanism that allows users to earn rewards, too. Staking the Sponge V2 token offers a whopping 351% APY and is a reason to hold for future gains. SPONGE trades at $0.000872 and can be bought by exchanging ETH or USDT.

Already, investors have staked over $3.9 million worth of SPONGE tokens. The token is also available on Uniswap. Interested investors should visit the official website for more information.

The post SUI Breaks $0.9 Resistance Zone as Investors Eye Sponge V2; Is It Still Worth Buying? appeared first on The Tech Report.

Top Crypto Gainers on January 11 – ENS and SUI

Nick Dunn — Fri, 12 Jan 2024 01:14:39 +0000

The long-awaited Bitcoin ETF approval has happened, sending crypto enthusiasts and investors into a celebratory mode. Traders are optimistic that the ETFs will encourage more institutional investors to invest in Bitcoin, which will likely boost its price.

Approved on January 10, the 11 spot Bitcoin ETFs have generated significant traffic in the Bitcoin market, sending the asset’s price above the $47,000 threshold, with the global crypto market cap rising to $1.86 trillion.

Amid the ETF buzz, crypto coins are soaring in the wave of heightened bullish investor sentiment, so the top gainers benefit from the ongoing positive market trend.

Let’s explore them below.

Ethereum Name Service (ENS) – The Domain Naming System

Ethereum Name Service (ENS) trades at $21.11, with a 47.2% increase in the last 24 hours and a 37.2% seven-day price gain. Buyers have continued to mount pressure on ENS as the spot BTC ETF wave propels their moves.

Moreover, speculations that Ethereum could be the next network to attract a spot ETF approval have added fuel to the bullish momentum. Meanwhile, developmental activities continue to thrive in the Ethereum Name Service (ENS) ecosystem, with the launch of a new mobile beta app underway.

The @3numdao team couldn’t be more excited to launch our brand new mobile beta appWe’ve been BUSY building

What can users expect?
Unparalleled Web3 communications app
Set your favorite @ensdomains or @avvydomains as your outbound Caller ID to ANY phone number… pic.twitter.com/Z2myHfr2cf

— 3NUM.eth (@3numdao) January 10, 2024

This app will give users easy access to web3 communication and the ability to set their favorite domains as outgoing caller IDs to any phone number. On the daily chart, ENS has formed a bullish pattern as more buyers enter long positions.

ENS Records Price Gains On Daily Chart: Will It Break Above $21.40

ENS continues on its uptrend after a massive price surge on January 10. It has flipped the $17.70 resistance level to support and is testing the $21.40 price level as the buyers continue to uphold the rally.

Also, ENS is trading above the Parabolic SAR indicator, a bullish setup that hints at a further price increase.

The Relative Strength Index (RSI), which is above 70, also confirms the positive price trend for ENS. Based on these indicators, ENS will likely break above the $21.40 price level in the coming days.

However, traders must watch out for a possible retracement for the asset since it is already overbought.

Sui (SUI) – Pioneering Layer 1 Smart Contract and Blockchain Platform

Sui stands out as a top gainer today, thanks to several variables. On the X platform, a crypto metrics handle, Artemis publicized the significant surge in DEX volumes on the Sui Network in the last three months.

There has been a significant increase in DEX volumes on @SuiNetwork over the past 3 months.

Meanwhile, TVL has risen to $222.92M, an ATH since its launch in May of 2023.

What could be driving these changes? pic.twitter.com/vkASEnkUAm

— Artemis (@artemis__xyz) January 9, 2024

The handle further revealed that SUI’s Total Value Locked (TVL) has climbed above $222.92 million, an all-time high since its launch in May 2023. Given these are positive outcomes, analysts are keen to identify the drivers of these changes.

Today, a revolutionary decentralized app for developers is live on the Sui Network, allowing users to join the new Sui-based coding challenges. Also, there has been massive excitement across the crypto space since January 5 following the launch of an NFT marketplace and Launchpad, Oasis X, on the Sui Network.

Again, SUDO, the token powering the decentralized real-world synthetic trading platform, Sudo Finance, is live on the Sui Network. It completed its 1st minting round within an hour on January 8 and has been making dramatic records since then.

With all these positive events and milestones achieved, it’s clear that investors and traders perceive the SUI token as valuable and profitable, which could be why its trading volume is rising. As of 4:30 am EST today, SUI’s price has climbed to $1, which shows an increase of 25.39% in the last day.

Also, its 24H trading volume is up by 124.25%, sitting at over $486.79 million within the same time frame. As Sui Network hits more milestones in the coming days, its token, SUI, could become the most accumulated token. Consequently, its value could take new heights.

SUI Forms Maribozu Candle on Daily Chart, What Next For The Token?

SUI continues on its positive price form from January 10 after a brief retracement on January 9. It has formed a large green candlestick today, breaking above the $0.84 resistance level. The buyers are testing the $1.02 resistance level, intent on pushing SUI’s price even further.

SUI has also broken above the upper Bollinger Band (BB), and the expanding bands confirm a strong bullish trend for the asset. Additionally, the RSI is rising to the overbought region and displays a value of 66.38.

If the RSI enters the overbought region, then the SUI will likely break above the $1.02 resistance level in the coming days.

SPONGE V2 (SPONGE) – The Utility Memecoin For Exciting Rewards

SPONGE is down by 10.01% today, trading at $0.00085. However, it has gained 77.9% in the last week as more investors accumulate the tokens, anticipating a possible bull run.

Sponge V2 still rides on the wave of success enjoyed by version 1 in 2023, with many investors buying into the project.

The second version focuses on adding utility, which is often a challenge for most meme coins. Also, the upgraded staking pool records daily increase as more investors lock their tokens for exciting rewards, given the high APY value.

Daily Staking Update!

We've reached 4,600,326,590 $SPONGE tokens staked, currently valued at $3,963,388.83 with an impressive current 351% APY.

Join our thriving #SpongeV2 community today and grow with us! #AltSeason #CryptoStaking #Web3 pic.twitter.com/TV6JOfQssa

— $SPONGE (@spongeoneth) January 11, 2024

Over 4.6 billion tokens have been staked as the SPONGE version 2 project continues to attract more investors. Also, the weekly Play-to-Earn (P2E) game will attract Web3 game lovers and boost ecosystem utility.

In context, SPONGE V2 is a new ERC-20 token that relies on a Stake-to-Earn model to reward users.

Although Version 2 is not available on top exchanges, it is already trading live on Uniswap.

SPONGE Facing Resistance at $0.00089 Is the Rally Over?

On the daily chart, SPONGE is facing pressure from the sellers and rejection at its $0.00089 resistance level.

It found support at $0.00076 on January 10 after a brief retracement. However, the bears at the $0.00089 resistance level forced a price rejection, leading to a decline today.

Despite the decline, SPONGE still trades above the median band of the Donchian Channel (DC), which confirms that the buyers are still active and might force a recovery.

Additionally, the RSI is close to the overbought region with a value of 68.71. The Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a buy signal.

However, the fading Histogram bars suggest a possible short-term retracement. Therefore, SPONGE will likely decline further to rest on the $0.00076 support before resuming its uptrend in the long term.

Bitcoin Minetrix (BTCMTX) – The Smart Mining Solution That Works

Bitcoin is once more in the spotlight as miners countdown to the halving event in April 2024. Given the cost of obtaining mining equipment, cloud mining has proven to be an effective and more lucrative system for Bitcoin mining operations.

This makes Bitcoin Minetrix a potential gold mine for early investors.

Bitcoin Minetrix offers reliable cloud mining solutions using a tokenized model and a decentralized framework. Anyone can stake the BTCMTX tokens to earn mining credits for BTC mining. Note that BTCMTX is not a meme coin but a utility-based cryptocurrency with long-term use and value.

How Does The Process Work?

The Stake-to-Mine model is what sets Bitcoin Minetrix

apart from other cloud miners. This model saves investors from spending on mining hardware that generates noise and heat and consumes electrical energy.

Rather, they can rent cloud computing power with mining credits. According to the developers, some of the advantages BTCMTX users enjoy include convenient accessibility, cost efficiency, and sufficient space.

Advantages of #BitcoinMinetrix:

Convenient accessibility.

Efficient cost structure.

Abundant space and peaceful environment.

No concerns about resale value. pic.twitter.com/slptHOIHNk

— Bitcoinminetrix (@bitcoinminetrix) January 11, 2024

With an Ethereum-compatible wallet, a user can purchase and stake BTCMTX tokens. Users who stake these tokens earn ERC-20 non-tradable token credits. These tokens must be burnt to receive BTC cloud mining power.

So far, over 528 million BTCMTX tokens have been staked on Bitcoin Minetrix, confirming the long-term vision of the project.

BTCMTX Presale Hits $8 Million Milestone

Big News Alert! #BitcoinMinetrix has passed the $8,000,000 raise milestone! pic.twitter.com/MNdhQOYzfJ

— Bitcoinminetrix (@bitcoinminetrix) January 10, 2024

BTCMTX presale is ongoing, with over $8.22 million raised out of the $9.10 million target. This confirms the rising interest from investors in the token because of its Bitcoin mining utility.

Presently, 1 BTCMTX token is worth $0.0128, with a price increase coming up in less than five days.

Investors can accumulate these tokens while they are still affordable ahead of their listing on top exchanges. Given its BTC mining utility and the presale success, BTCMTX is a token to watch out for in 2024.

Its eventual launch could likely lead to massive rewards for early investors.

Conclusion

The spot Bitcoin ETF approval has given the crypto market a facelift in the last 24 hours. As more institutional investors adopt BTC tokens through ETFs, the altcoins will likely record positive rallies.

Despite the improvement in the crypto market, the US SEC still advised investors to apply caution due to market volatility.

Based on forecasts, BTC will likely record massive gains in the coming weeks if more crypto investors adopt the ETFs. Also, the upcoming halving in April is likely to trigger a bullish phase in 2024.

The post Top Crypto Gainers on January 11 – ENS and SUI appeared first on The Tech Report.

Dogecoin (DOGE) Stabilizes Amid Fake Rumor About Bitcoin ETF Approval

Nick Dunn — Thu, 11 Jan 2024 06:30:16 +0000

Dogecoin price remains steady today, January 10, 2024, even as the broader crypto market is down. The bearish sentiment in the general market is attributed to the fake Bitcoin ETF news posted by the U.S. SEC. This news caused the crypto market to fluctuate really badly.

But there’s still hope for the entire market to bounce back as the SEC has this week to decide.

Why is Dogecoin Stable Despite the Broader Bearish Pressure

Dogecoin had a bumpy day on Tuesday due to a fake post shared on social media. Someone said the DOGE mascot, Kabuso, died, and this made many people upset. This made the DOGE price go up by 9% to 8.3 cents a few minutes after the post were made.

But then, the person who started the story admitted it wasn’t true and deleted their account. It was just a mix-up that made things a little crazy for Dogecoin. Further, a popular crypto observer, Tree of Alpha, shared an opinion on the matter a few hours later.

The charts people are painting while speculating over the death of an animal make me think we're either all going to hell or we're already there.

— Tree (@Tree_of_Alpha) January 9, 2024

According to the account,

The charts people are painting while speculating over the death of an animal make me think we’re either all going to hell or we’re already there.

Unfortunately, this news caused some traders to lose significantly due to how volatile the market can be.

Dogecoin Price Action: DOGE Recent Price Trends and Market Signals

Based on the chart, since December 2023, Dogecoin’s value has been going down. It started at $0.10 on December 09 and dropped to $0.08 by December 30.

This wasn’t good news for those who invested at $0.1, hoping for the price to go up. Instead, it lost about 20% of its value.

In early 2024, Dogecoin held steady at around $0.08 to $0.09. On January 01, there was a positive sign as Dogecoin showed a new green candle on the chart. However, the market was mostly controlled by bears, leading to a decline in DOGE price. On January 03, it went below the $0.08 mark.

As of 8:00 a.m. EST, DOGE’s price is $0.077, with a trading volume of over $930 million. Even though the price is down 6% over the past week, Dogecoin’s trading volume went up by 80% in the last 24 hours.

According to CoinMarketCap, Dogecoin is neither up nor down today, January 10, 2024. But in the past month, Dogecoin lost over 20% of its value.

Dogecoin Price Analysis: Short-Term Challenges Amid Long-Term Support and Potential Shifts

In the short term, Dogecoin trades below its 50-day moving average. This signals recent bearish momentum and selling pressure controlling the price action. However, Dogecoin remains above its 200-day average.

This shows that there is ongoing support for its longer-term uptrend despite recent price moves.

The MACD indicator for Dogecoin currently sits below its signal line, flashing a bearish sentiment. However, the fading red histogram bars show this negative momentum decreasing and potentially reversing.

So, in the very short term, Dogecoin looks bearish and at risk of more pullbacks as it loses near-term ground.

Yet improving longer-term foundations and early MACD shifts could suggest an impending change in direction. Previously, Dogecoin broke downwards out of a descending channel in place since December last year.

This breakdown fueled additional selling as Dogecoin dropped to new lows.

However, more recently, Dogecoin rebounded as buyers returned. Impressively, this allows it to recover slightly and establish a new potential bullish trendline over the past few weeks. Sustaining this upward trajectory would strengthen Dogecoin’s outlook.

In essence, while recent breakdowns paint a negative picture, Dogecoin shows early signs of basing and turning back upwards. Reclaiming its 50-day average and holding the new rising trendline would confirm renewed bullish momentum.

Yet until that definitively occurs, caution remains necessary in the near term. As always with crypto, nothing moves linearly for long.

Dogecoin Alternative: Sponge V2 Could Be the Next 100x Meme Coin

In May 2023, during the meme coin hype, a not-so-famous one named Sponge surprisingly reached a $100 million value. This insane growth gave early buyers 100 times their money back.

Now, Sponge is back with Sponge V2, aiming for another chance at big profits.

Attention, #SPONGERS!

We’re thrilled to announce that our liquidity is now locked!

With 4,270,902,045 tokens already staked valued at $3,497,953 with an impressive current 378% APY, $SPONGE is stronger than ever!

Visit our website to find out more! #SpongeV2 #Web3 pic.twitter.com/1tYOhx3Lcb

— $SPONGE (@spongeoneth) January 8, 2024

The new Sponge version has a game where users can play and earn cryptocurrency. Usually, stuff like this will boost the demand for $SPONGEV2. This might make Sponge V2 even more popular than the first one and give people another chance to make money.

Unveiling Sponge V2: The Next Chapter in Meme Coin Evolution

Sponge V2 has a new way, called ‘Stake-to-Bridge,’ that links the new token to the older SPONGE V1 system. If you have V1 tokens, you can get V2 tokens by staking them.

This happens when V2 launches in 2024. The Sponge V2 website says it’s like the ‘Krabby Patty’ of meme coins, coming back better and bigger than before.

Unlike the first one, Sponge V2 starts during the next bull cycle and has a game you can play to earn rewards. A lot of people are excited about Sponge V2.

They’ve already staked over $4.38 million worth of SPONGE to get $SPONGEV2 tokens. Right now, you can purchase the coin at a lower rate of $0.000966.

Stake your $SPONGE for a minimum 40% APY in rewards, paid out in V2!

Secure your long-term bag today! #Sponge #Web3 #Crypto #Alts pic.twitter.com/OZLJwOl3Su

— $SPONGE (@spongeoneth) January 10, 2024

This new game in Sponge V2 lets you earn tokens by playing and ranking high on the leaderboard. There are free and paid versions, and the paid one might help you earn more tokens.

It’s different from other meme coins because it’s driven by the community, not big investors.

With the right plans and a bit of luck, Sponge V2 might become one of the top winners in the crypto market next year.

The post Dogecoin (DOGE) Stabilizes Amid Fake Rumor About Bitcoin ETF Approval appeared first on The Tech Report.

Top Crypto Gainers on January 10 – LDO and RPL

Nick Dunn — Thu, 11 Jan 2024 05:37:50 +0000

The crypto market shed some gains today after Bitcoin dropped to $45,000. The reason likely causing BTC’s decline was a false post on the US Securities and Exchange Commission’s X account.

The post claimed that the SEC had given the long-awaited approval for Bitcoin Spot ETFs.

However, the agency announced that the X account had been compromised. Despite the retracement, an official announcement on the fate of Bitcoin Spot ETFs is expected soon.

Meanwhile, some altcoins still recorded gains despite the price volatility due to positive investor sentiments.

More interesting facts about these tokens and their possible crypto price moves in the coming days are captured below.

Lido (LDO) – Multi-Blockchain Staking Platform

Lido DAO (LDO) is experiencing a bullish trend despite broader market turbulence related to Bitcoin ETF misinformation. Over the past 24 hours, LDO has shown significant resilience, with its value surging from a low of $3.13 to an all-time high of $3.83.

Currently, as of 7:30 am EST, it’s trading at $3.83, indicating a 16.51% increase from its lowest point today. The impressive surge in Lido DAO’s price isn’t isolated. It’s accompanied by a substantial rise in market capitalization and trading volume.

Market capitalization has increased by 16.49% to reach over $3.4 million.

Simultaneously, the trading volume over the past 24 hours has seen a staggering 120.58% escalation, now standing at over $387.9 million today. These statistics highlight a growing interest among investors in Lido DAO.

What could be expected next is contingent on various factors.

If the interest and momentum persist, LDO might continue to experience upward movement. However, market dynamics can swiftly change, influenced by external factors like regulatory news, including the EFT approval and the potential SEC decision.

Monitoring how Lido DAO responds to market shifts and how its community and developers continue to progress would give a clearer picture of its future trajectory.

LIDO Coin Forming 3rd Consecutive Candle Stick – Can It Break the Critical Resistance at $3.9?

Lido is forming another consecutive green candle stick, signaling a significant surge in market value in the last 3 days. If LDO keeps up with this trend, it’s certain that a breakout at the $3.9 resistance could occur before today ends.

Again, the coin is trading above the 50-day and 200-day Simple Moving Average, a bullish trend in the short and long term. Moreover, the Relative Strength Index (RSI) is at 67.84, pointing upward. This movement reflects the buyers’ strength in the trades today.

If more BUY trades occur, the RSI could go overbought (above 70), indicating more positive market movements in the long run. Conversely, there is a possibility for LDO’s price to stall before the weekend.

Considering the inverted 50-day and 200-day SMA, there is a death cross, which suggests an overall negative market momentum.

Also, the new green candle stick formation has a significantly slim wick, showing the non-stop efforts of the sellers. Should sellers surpass the buyer, LDO could lose its gains, retracing to the $3 mark.

Despite these mixed signals, the coin still has a support level of $2.6, which means any downtrend toward this level will trigger demand for LDO.

This way, a rebound occurs, pushing the coin’s value upward again.

Rocket Pool (RPL) – The Decentralized Ethereum Staking Pool

RPL’s price at 7:51 am EST is $32.05, with a 14.25 increase in the past 24 hours. Also, it has gained 9.3% in the last seven days. Rocket Pool provides staking solutions on Ethereum for the crypto community.

One of the factors still driving its gains is the Smart node update to v1.11.2 on December 19, 2023.

The Smartnode has been updated to v1.11.2

The latest version is recommended for node operators using Geth, Teku, Lodestar, and Nethermind

Please review the changes carefully before upgrading: https://t.co/0wiwtW3SES pic.twitter.com/qM6yX04vUX

— Rocket Pool (@Rocket_Pool) December 19, 2023

This updated version is recommended for node operators using Nethermind, Geth, Lodestar, and Teku. Meanwhile, on the daily chart, RPL has formed a bullish pattern as it attempts to overcome its nearest resistance.

RPL Finds Support At $28.94, Will The Rally Continue?

RPL recovered from the January 6-7 slump to rally from January 8. It found support at $28.94 and is testing the $32.25 resistance level. A break above this level will send the asset to $33 in the coming days.

The upper wick of today’s candle has broken above the $32.25 resistance level as the buyers continue to dominate the market.

Also, the Relative Strength Index (RSI) indicator is rising to the oversold region above 70 and displays a value of 60.10. This is a bullish signal hinting at further price ahead for the asset.

Additionally, the Moving Average Convergence/Divergence (MACD) is rising above its signal line to form a buy signal.

Also, the green Histogram bars confirm that the buyers are returning and aiding RPL’s gains. The trendline reveals that RPL has formed higher highs on the daily chart. Therefore, it will likely break above the $32.25 resistance level in the coming days.

SPONGEV2 ($SPONGE) – The Fun-Themed Memecoin

Sponge V2 is the relaunch and improvement of the original sponge token. According to the developers, they will combine the fun and engagement of the memecoin with a staking model and play-to-earn game.

Although the token has yet to launch on top exchanges, it is available on the Uniswap decentralized exchange.

Attention, #SPONGERS!

We’re thrilled to announce that our liquidity is now locked!

With 4,270,902,045 tokens already staked valued at $3,497,953 with an impressive current 378% APY, $SPONGE is stronger than ever!

Visit our website to find out more! #SpongeV2 #Web3 pic.twitter.com/1tYOhx3Lcb

— $SPONGE (@spongeoneth) January 8, 2024

Sponge V2 ($SPONGE) now supports token staking and is a second chance for investors who missed out on version one. According to a post on X, over 4.27 billion $SPONGE tokens have been staked at an APY of 378%.

Also, investors can bridge their tokens from V1 to V2 through staking.

Therefore, any token already staked in the version 1 staking pool must be withdrawn and transferred to the new pool. Additionally, there is now an exciting Play-to-Earn (P2E) game that will attract more users and boost the utility of the ecosystem.

Users can buy these tokens by connecting a secure wallet such as Trust Wallet to the official page. They can easily access the staking dashboard on the website. The V1 of the SPONGE token launched in May 2023 and enjoyed massive success. It was a pioneer of the memecoin season.

Also, Version 2 is set to launch before a bull market begins, which will likely yield massive gains for investors. Meanwhile, the P2E game has a free and paid version with in-game credits available.

These credits enable users to play and earn more SPONGE tokens.

According to tokenomics, 43.09% of the total supply is reserved for staking rewards, thereby encouraging long-term token holders. SPONGE has recorded impressive gains on the daily chart in the last 24 hours.

What Next For $SPONGE?

SPONGE rallied impressively from January 1-7 as the buyers sustained pressure, moving it above the $0.00076 price level. Also, SPONGE has formed a large green candle on the daily chart today as the buyers attempt to break above the $0.00098 resistance level.

A break above this level will send the asset to $0.001 in the coming days. SPONGE is also trading above the Median Band of the Donchian Channel (DC), which is a bullish sentiment hinting at a further price increase.

The RSI indicator confirms this sentiment, rising in the overbought zone with a value of 73.37.

Furthermore, the MACD indicator shows a strong buy signal rising above its signal line. Also, the green Histogram bars confirm this buy sentiment. Therefore, SPONGE will likely trade at $0.001 in the coming days if the buyers sustain their charge.

Meme Kombat – Gaming Crypto Project with 100X Potential

The Meme Kombat ($MK) presale has surged past $6.5 million, drawing significant attention and trending across charts. It’s not just its meme coin status or unique GambleFi utility that’s turning heads. High staking rewards are also pulling in investors.

At the presale, investors stand to earn a whopping 156% in staking rewards on their purchases. Currently, 78% of the bought tokens, totaling 27,249,494 $MK tokens, are staked.

This move helps mitigate the abrupt price swings often associated with meme coins.

Investors, both big and small, are flocking to Meme Kombat, positioning it as a significant player in the meme coin domain. But amidst options like BTC, ETH, or SOL, known for their good returns, why opt for Meme Kombat? The reasons behind Meme Kombat’s current hot streak are multifaceted.

Firstly, it’s a fresh arrival, offering early investors substantial potential for significant returns. Unlike established giants like BTC, which might not see exponential growth, Meme Kombat’s low starting point indicates ample space for expansion.

Hence, compared to renowned crypto coins like DOGE, PEPE, or SHIB, $MK appears more promising. Yet, is this reason alone sufficient? Every week, numerous new cryptocurrencies emerge, but a low market cap doesn’t guarantee a sound investment—many crash quickly.

However, Meme Kombat stands out. Its novelty presents considerable growth potential, making $MK a more thrilling prospect compared to established meme coins.

Also, the ongoing giveaway serves as an additional variable driving interest among investors, traders, and crypto enthusiasts.

Conclusion

Speculations and rumors often affect prices in the crypto market. However, despite its volatile nature, some investors still profit from its volatility. Although the Spot Bitcoin ETF is expected to trigger an uptick in prices, the Bitcoin Halving in April will likely be the big event to look out for.

Nevertheless, there are no guarantees, and all investments carry risks that must be studied and managed properly.

The post Top Crypto Gainers on January 10 – LDO and RPL appeared first on The Tech Report.

Top Crypto Gainers on January 9 – BONK, ICP, And TIA

Nick Dunn — Wed, 10 Jan 2024 04:15:02 +0000

Bitcoin has finally broken above the $45,000 resistance level to trade at $46,400, which is a 5.4% increase in 24 hours. Remarkably, BTC’s recovery has been reflected in the overall value of the crypto market, which has increased to $1.8 trillion today.

One of the factors aiding these gains is the Bitcoin Spot ETF’s rumored approval. Derivative traders are investing heavily in Bitcoin futures, which has increased from the $9.5 -$14.5 billion range in 2023 to $17 billion.

While investors await the SEC’s decision on the approval, altcoins have become an alternative source for investors. So, the top crypto gainers of today benefit from positive investor sentiments and exciting developments in their communities. More fascinating details are captured below.

Bonk (BONK) – The Solana-Inspired Memecoin

BONK has gained 26.9% in the last 24 hours to trade at $0.000013. The asset was quite volatile as it shed over 10% of its gains in the past week. However, the gains today suggest that the buyers have returned.

The Bonk ecosystem continues to record more positives in 2024, with a review of activities in 2023 confirming its growth.

GM

The first week of 2024 came and went
Time to recognize the past to plan for the future and keep building for the New Year.
10 chains, 600,000+ unique holders, and 42 exchanges
Thank you to all 2023 BONK ecosystem builders and integrations

A look at BONK 2023 highlights… pic.twitter.com/fWgJgAX7JG

— Bonk! (@bonk_inu) January 8, 2024

Throughout 2023, Bonk interacted with over 10 blockchains, recorded over 600,000 token holders, and was listed on 42 exchanges. Also, during the festive period, the crypto community celebrated BONKmas. Games such as the Silicon Valley BONK (SVB) were introduced to keep users entertained.

In addition, the BONKbot enjoyed a massive 342% growth in the number of users during the 12 days of the BONKmas event. On the daily chart, BONK records gains but faces resistance.

BONK Testing The $0.000017 Resistance Level: Will It Break Above?

BONK is in an uptrend on the daily chart, posting a second green candle after yesterday’s recovery effort by the buyers. After a dip between January 5 and 7, BONK is now in the green as the buyers begin to rally.

The $0.0000103 support level has proved critical to BONK’s rise as it approaches the $0.0000145 resistance level.

BONK is trading in the lower region of the Donchian Channel (DC) but rising to the Median Band, which indicates a recovery phase for the asset.

Also, the Relative Strength Index Indicator (RSI) is rising from the oversold region below 30, with a value of 37.02 and approaching the neutral zone above 50.

If the RSI rises above 50, then the uptrend will continue. BONK will likely continue its rally in the coming days and break above the $0.0000145 resistance level.

Internet Computer (ICP) – The Cloud Computing Blockchain That Works

ICP is trading at $13.03, with a 5.5% increase in the last 24 hours. However, it experienced price volatility in the past week. The UCO multi-chain recap captures the essential developments in the ecosystem relevant to the ICP community. These developments might be the hope for the asset.

4/4
Read our 2023 Multi-Chain recap with the latest ICP News and Updates

https://t.co/H7izpUST5q pic.twitter.com/mbQf5Js4cA

— DFINITY (@dfinity) January 5, 2024

One of the core developments was the introduction of ckETH, which exists on ledgers created by ICP smart contracts. These tokens can be transferred within one second at no cost. Remarkably, ICP developers introduced protocol-level integration with Bitcoin in 2023.

This eliminated the need for cross-chain bridges. But, on the daily chart today, ICP faces pressure from the sellers as it approaches its nearest support level.

ICP Facing Pressure From Sellers: Will The $12.90 Support Hold?

ICP is under pressure from the sellers, which is evident in a downtrend between January 4 and 7. However, the buyers rallied on January 8 to test the $13.97 resistance level. A rejection at $13.97 on January 8 sent ICP back to rest on the $12.90 support level.

Looking at the chart, the RSI indicator is dropping from the buy zone, with a value of 61, to the neutral zone. This confirms that the sellers have gained control of ICP’s price. Additionally, the Moving Average Convergence/Divergence (MACD) indicator has dropped below its signal line, displaying a sell signal.

This signal is confirmed by the red Histogram bars. Therefore, ICP will likely retrace further if the $12.90 support fails to hold. Traders must watch out for the close of today’s candle for confirmation.

Celestia (TIA) – The Modular Blockchain Network For Developers

TIA is up by 19.7% today, trading at $16.18. It gained 16.6% on its price in the past week, confirming buyer’s dominance. Celestia has continued to record positive ecosystem developments, with over 1 GB of data posted on the network.

.@CelestiaOrg just passed 1GB of data posted and the rate is accelerating

One day we'll be doing 1GB of data every minute pic.twitter.com/pIj42RZRqz

— Nick White (m/acc) (@nickwh8te) January 8, 2024

The over 632,000 accounts on the network confirm the rising interest in the tokens from investors. These developments are likely aiding TIA’s price gains on the daily chart in the last 24 hours.

TIA Forms Bullish Engulfing Pattern As Buyers Return, What Next?

TIA has shown a remarkable recovery in the last 24 hours after a price slump from January 5-8. It has formed a large green candle on the daily chart as the buyers return to force an uptrend.

Also, TIA found support at $14.24 and has rallied to the $16.07 resistance level. A break above this level will likely occur if the buyers sustain their charge.

Meanwhile, TIA is trading above the Parabolic SAR indicator, which is a bullish signal hinting at further increase. Additionally, the RSI indicator is at 64.25 and rising to the overbought region above 70.

So, TIA will likely break above the $16.07 resistance level in the coming days if the buyers continue the accumulation phase.

Meme Kombat (MK) – Your Stake, Play and Earn Project

The Meme Kombat ($MK) presale’s meteoric rise past the $6.4M milestone isn’t just about another meme coin surging in the market. There’s a convergence of strategic factors propelling its success. $MK’s allure lies beyond mere meme coin association.

It intertwines GambleFi, staking APY, and an innovative AI-powered battle arena. The key to its unprecedented presale success lies in the attractive staking APY of 156%.

This feature, combined with 77% of purchased tokens staked, minimizes pump-and-dump risks, a typical plight for meme coins.

Both whale and retail investors are flocking to Meme Kombat, as evidenced by substantial buys and growing interest in a market flooded with high-cap assets like BTC, ETH, and SOL.

4 hours until the price of $MK goes up to $0.268

In the meantime, take a look at these MAJOR buys that came in over the last day One was a whopping $84k and the other $20k pic.twitter.com/tsGsvuPujG

— Meme Kombat (@Meme_Kombat) December 28, 2023

A Potential Big Name in Meme Crypto – What sets $MK apart?

This top crypto gainer today stands out thanks to its low initial market cap, which allows room for substantial growth, unlike established giants like Shiba Inu, Dogecoin, etc.

Also, Meme Kombat doesn’t rely solely on market cap allure; it crafts a strategic advantage by blending GameFi, GambleFi, and AI utilities.

The AI-powered battle arena engages meme coin communities, leveraging their rivalry to fuel token demand. The innovative staking system further augments organic token demand while ensuring long-term price stability.

What’s noteworthy is the team’s transparency—unlike most meme coins.

Meme Kombat’s team, led by Matt Whitman, is doxxed, enhancing credibility in an otherwise volatile space. The impending launch of Season 1, featuring iconic meme characters, hints at sustained bullish trends post-presale, fostering a continuous price uptrend.

However, the window to invest early and secure potentially higher returns is closing rapidly due to escalating presale traffic. Investing early via presales presents an advantageous entry point. Meme Kombat’s presale frenzy signifies imminent sell-out, prompting investors to act swiftly.

Sponge (SPONGE) V2 – Meme Asset with Unending Upgrades and Value Surge

SPONGE has experienced remarkable growth recently, indicated by an 84% price surge within 24 hours, reaching $0.00114. This surge was ignited by the excitement of transitioning from its original version, V1, to the upgraded Sponge V2. The success story behind Sponge V2 lies in its strategic development.

The transition process involves staking the original V1 tokens, with over 4 billion tokens valued at $4,503,802.76 already staked.

Once staked, these tokens automatically bridge to the V2 version, although the exact bridging date is yet to be announced. This process encourages token holders to stay engaged with the project’s social media for further updates.

The anticipation surrounding Sponge V2 has attracted significant attention, especially due to its attractive staking rewards, which currently offer a lucrative 387% yield. This reward system has enticed new investors, drawn by the promise of increased utility features.

Sponge gained traction on platforms like Dextools, with $2.4 million in trading volume within 24 hours.

Sponge V2’s upcoming listings on major exchanges (OKX, Kucoin, and possibly Binance) could significantly increase its exposure and trading activity. These factors position Sponge V2 for substantial growth, attracting investor interest and potentially enhancing its standing in the crypto market.

SPONGE Declines from The Upper Bollinger Band – Where Are the Bulls?

The technical analysis of Sponge suggests a complex situation. Currently, Sponge is showing a red candlestick pattern just below the Upper Bollinger Band, while the Bollinger Bands themselves are expanding in opposite directions.

Additionally, the MACD indicator is positioned above the signal line, accompanied by a faded green histogram bar. Again, the Relative Strength Index (RSI) stands at 68.44, indicating a horizontal trend.

This combined analysis may signal a potential period of consolidation or slight correction for Sponge in the near future.

However, the red candlestick close to the Upper Bollinger Band suggests a possible pullback from recent highs. The opposing expansion of the Bollinger Bands indicates increased volatility or uncertainty in price direction.

The MACD above the signal line, albeit with a fading histogram bar, suggests a weakening bullish momentum.

Meanwhile, the RSI at 68.44 shows that Sponge is moderately overbought but not in an extreme zone. Considering these indicators collectively, Sponge might experience a short-term correction or sideways movement in its price in the coming days.

Traders and investors might witness a temporary pause or slight dip in Sponge’s value before any potential resumption of an upward trend. However, this analysis does not provide a definitive prediction but rather an indication of possible market trends based on technical indicators.

Conclusion

The crypto market is gaining ahead of two key events – the Spot ETF approval and Bitcoin’s Halving. If the desired price levels are attained, then a bull run will likely occur in 2024.

Nevertheless, cryptocurrencies remain volatile, and there are no guarantees that the prices will not decline due to external factors. Therefore, proper research and risk management are vital for traders to limit unnecessary exposure to losses.

The post Top Crypto Gainers on January 9 – BONK, ICP, And TIA appeared first on The Tech Report.

Top Crypto Gainers on January 8 – MKR and STX

Nick Dunn — Tue, 09 Jan 2024 04:59:59 +0000

As the Bitcoin ETF approaches its final stages ahead of a possible approval by the SEC, the crypto market has gone on a roller coaster ride, with so many speculations about possible price hikes.

The US SEC is mandated to take action on at least one of these applications by January 10.

While many are hopeful for a favorable outcome on BTC’s price when the SEC’s decision is revealed, some investors have turned to altcoins, anticipating a rub-off of potential Bitcoin goodness.

Amid these, many altcoin prices are over the moon, ranking among the top gainers in the last 24 hours.

Most of them also ride on positive developments in their ecosystem. Below are more details on the top crypto gainers, their next possible price moves, and ecosystem developments.

Maker (MKR) – The DAO for DAI Users

MKR records modest gains in the past week following many days of bearish pressure in December last year. While MKR benefits from the ongoing frenzy in the crypto market, its strong ecosystem and competent DeFi lending and borrowing system could be the foothold of its gains.

According to data from Coinglass, MKR has recorded a significant uptick in liquidations following its price increase from a week low of $1,694 to $1,952 on January 3, marking a 15% uptick.

Although there’s been a pull-back, MKR still retains nearly 3% of its past week and now trades at $1,738.

MKR Buyers Resume Rally: Will It Break Above $1839.73?

MKR has formed two consecutive green candlesticks on the daily chart, confirming the return of buyers. The token has broken above the $1755.70 level and is testing the $1839.73 resistance level.

A break above this level will sustain the ongoing uptrend for Maker.

Also, MKR is trading above the Median Band of the Donchian Channel (DC) and rising, which is a bullish sentiment. The Relative Strength Index is 69.99 and approaches the overbought region.

An entry into the overbought zone will send the asset to higher highs. So, MKR will likely break above the $1839.73 resistance level in the coming days if the bulls prevail.

Stacks (STX) – The Open-Source Dapp Network

The price of Stacks (STX) at 5:34 a.m. EST is $1.81, with a 15.7% 24-hour increase and a 20.5% seven-day price gain. Its trading volume also shot up by 252% in the last 24 hours, hitting over $570 million.

Even though the overall global crypto market has slightly dropped to $1.7 trillion, Stacks is still making big moves.

Some data from Santiment shows that people are really interested in Stacks. The total interest in Stacks went up from $64.8 million to $80.8 million in just 24 hours.

Investors in STX seem to be holding onto their positions despite the market being a bit shaky.

Santiment suggests that long-term holders are slightly more dominant right now. Moreover, the STX Relative Strength Index (RSI) went up a lot on the last day, from 56 to 68.

This might mean that big investors could influence the price, leading to higher volatility.

Tim Draper, a famous investor, thinks the Stacks Network could really change how smart contracts are used. He believes this could make the value of STX go up a lot because of how useful it might become.

STX Finds Support at $1.67. What Next for The Asset?

STX has found support at $1.67 to rally to $1.79 as the buyers continue to uphold its price. A close look at the daily chart reveals a similar pattern of highs and lows from December 27 till date.

Also, the sellers are determined to limit the asset below the $1.79 price level.

Nevertheless, the candles, formed on January 7 and 8, suggest that the buyers are still active and supporting further price gains. The RSI indicator displays a value of 65.54 and is rising to the overbought region above 70.

If the RSI moves above 70, then STX will likely break above $1.79 to trade at $1.80.

Meanwhile, the Moving Average Convergence/Divergence (MACD) indicator is rising above its signal line, which is a bullish sentiment. Also, the fading red Histogram bars confirm the return of the buyers.

So, STX will likely break above the $1.79 resistance level and rally to $1.80 if the bulls sustain their charge.

Bitcoin Minetrix: Cost-efficient Alternative to Revolutionize Bitcoin Mining

Next on our top gainer list is BTCMTX, a project that introduces a fresh way of mining Bitcoin through the cloud. It uses tokens to address common issues found in other cloud mining setups.

The main goal is to make a secure and open space for people to mine Bitcoin in a decentralized manner.

Bitcoin Minetrix holds a significant amount of BTCMTX tokens, exceeding 400,000. It offers a yearly yield of 103% to investors who stake their tokens, but this might change with more BTCMTX being staked.

The project has set 42.5% of the total token supply for mining operations, focusing on building a strong mining setup.

Another big chunk, 35%, goes to marketing and expanding the BTCMTX ecosystem. Then, 15% is for rewarding active community members, and the last 7.5% is for BTCMTX staking rewards.

So far, Bitcoin Minetrix has raised over $7,809,552 out of its $8,005,978 goal.

BTCMTX and Its Cloud Mining Model

To use the project’s cloud mining, investors must burn the received gas tokens. This ensures active participation while sharing out rewards efficiently. Analysts predict a potential Bitcoin price surge after spot Bitcoin ETF approvals.

This means investors might gain profits and earn passive BTC income.

The stake-to-mine concept is an innovative idea set to revive #Bitcoin mining for regular #Crypto enthusiasts.

Those on #BitcoinMinetrix only require an Ethereum-compatible wallet like #MetaMask, simplifying everything significantly. pic.twitter.com/YbvHCw7Nj3

— Bitcoinminetrix (@bitcoinminetrix) January 8, 2024

As the Bitcoin halving event approaches, it might get harder to acquire BTC, potentially increasing its price and giving hefty rewards to Bitcoin Minetrix investors. Act quickly if you’re interested, as the price of BTCMTX will increase in less than two days.

You can buy BTCMTX from their official website to take advantage of its potential benefits. Don’t miss this chance to join a new and innovative cloud mining project. The low presale prices offer easy entry into the BTCMTX community for interested investors.

Each BTCMTX token currently trades at $0.0127, and you can invest with a minimum of $10. To avoid missing out, hurry to the project’s presale website and secure a slot using Ether, Tether, or a bank card.

Meme Kombat (MK) – Gaming and Meme Gambling Platform

Meme Kombat ($ MK) has stormed into the crypto world with an ERC20 presale that’s reshaping the meme token landscape.

Uniting iconic meme tokens like Doge, Shiba Inu, and Pepe in a unique combat platform is not just creating a battleground but a gathering point for passionate meme communities.

NFT Update

Our artist is hard at work creating the very detailed NFTs that you see below, but it is taking more time than we anticipated.

With that said, unfortunately our marketing or development team aren't artists. But we would like to keep you in the loop nevertheless pic.twitter.com/GI52hDDdLf

— Meme Kombat (@Meme_Kombat) January 7, 2024

The fusion of these communities into a single ecosystem is a testament to Meme Kombat’s innovative approach. What’s catching the eye of early investors and traders is the promise of a thrilling betting experience.

Users can wager on the outcomes of meme battles, offering an extra revenue stream.

The allure doesn’t stop there; an estimated 400% APY sweetens the deal, making it an enticing opportunity for those eyeing potential returns. The incorporation of AI takes engagement to another level.

Dynamic visualizations and randomized sequences add an interactive charm, reimagining famous memes within the combat setup. It’s not just a battle; it’s a visually stimulating and entertaining experience, enhancing user involvement.

What’s Driving MK’s Presale Success?

Meme Kombat leverages blockchain for immutable and fair results, assuring participants of a trustworthy platform. Moreover, the team’s openness by being ‘doxxed’ adds credibility, fostering trust among potential investors.

The presale’s impressive haul of over $6.34 million signals its appeal.

It’s not just about the financial prospects; Meme Kombat promises both entertainment and potential profits, making it very appealing to game lovers looking to earn income while playing the games they love.

Its unique concept, merging meme communities, and offering a betting avenue is a breath of fresh air in a crowded market.

So, Meme Kombat could make a splash when it hits crypto exchanges. The potential for high APY adds allure, while the use of AI ensures an engaging user experience. Additionally, the team’s roadmap hints at further expansions, introducing new markets, themes, and characters, setting the stage for sustained growth.

Meme Kombat’s presale success isn’t just about the funds raised; it’s about the convergence of memes into an interactive platform with earning potential.

Its listing on exchanges is anticipated to be a top choice due to its innovation, potential returns, engaging AI-driven interface, and promising trajectory for future developments.

Conclusion

All eyes are on the news this week as investors await a possible Bitcoin ETF approval. Although other critical data such as CPI and inflation rates will be released, the Bitcoin ETF approval remains a key element that could influence assets’ price trajectory.

Several speculations resulted in massive liquidations in the past week as Bitcoin retraced to $40,000. So, the next few days are critical, given the heightened anticipation among market participants.

If the Bitcoin ETFs have the desired effect post-approval, the market could witness a significant uptrend, even before the April 2024 Bitcoin Halving.

While we await favorable news, investors should consider diversifying their portfolios with low-cap coins like BTC MTX, which have massive growth potential. Above all, it’s advisable to implement proper risk management techniques.

The post Top Crypto Gainers on January 8 – MKR and STX appeared first on The Tech Report.

Dogecoin (DOGE) Loses 3% as Meme Kombat Raises Over $6.2 Million; What’s Next?

Nick Dunn — Tue, 09 Jan 2024 04:30:47 +0000

Dogecoin (DOGE) has exhibited significant strength over the last months, but unfortunately, its price has broken a descending channel, leading to a 3% drop in value today, January 08.

The bears are now in control, with many wondering what fate awaits DOGE in the next few days.

However, despite the bearish sentiment, this new project, Meme Kombat ($MK), has attracted significant investor interest. With DOGE losing over 12% in the past week, its trajectory remains uncertain, but the following analysis could provide hints.

Dogecoin Tumbles with Notable Loss as Buyers Recede

DOGE has witnessed a significant decline in the past month, falling from a month high of $0.105 to $0.076, marking an over 22% decline. While most tokens started 2024 on a strong foothold, DOGE seems to have lost it. On January 03, it broke below the $0.08 region as the downslide continued.

As of 6:00 a.m. EST, DOGE is trading at $0.077, with an over 60% spike in trading volume in the past 24 hours. Given the market situation, the uptick in trading volume is likely due to increased liquidations, and there’s no telling what could happen next.

So traders should watch the technical charts for hints about where Dogecoin might go next.

Dogecoin Price Analysis as Bears Take Control

Dogecoin recently broke below its descending channel in place since December 2023. This signals that the previous downward path is getting worse. Breaking free from this pattern usually happens before more selling occurs, especially when the old support levels no longer hold.

But, after going down at first, Dogecoin found support around $0.074 and bounced upwards off this new foundation. For now, the $0.074 support is preventing excessive pullback.

Dogecoin is currently trading above a short-term trendline that was formed recently.

Keeping up this upward path indicates that the new support might be stabilizing the price. The meme coin also trades below the Bollinger Band indicator, suggesting increased sell-off and bearish pressure.

But the low prices present a chance to buy the dip before DOGE eventually goes up again.

The RSI reading has plunged near 30, also indicating an extremely oversold condition. Nonetheless, the creation of new support ($0.0774) is seen as a positive development since the bottom price could attract fresh buyers who wish to accumulate for sunny days.

If this happens, a new bullish momentum could arise, pushing back sellers and uplifting DOGE to high prices. However, caution is advised as things can take unexpected turns, given the highly volatile nature of the crypto market.

Moon Mission Buzz: Potential Impacts on Dogecoin Price Movement

According to Mishaboar, today, a real Dogecoin is going to the moon with Astrobotic’s Peregrine Lunar Lander in a DHL MoonBox.

On January 8th, a physical #Dogecoin will land on the moon via Astrobotic's Peregrine Lunar Lander, inside DHL MoonBox.@JustinScerini is hosting a space about it, right NOW – and he is the man to follow for all space-bound Dogecoin news.

Check also @OneGoodShibe's historical… https://t.co/kSCUYzqgQw

— Mishaboar (@mishaboar) January 7, 2024

Dogecoin has been mentioned in talks about moon-related missions following Elon Musk’s announcement of plans to send a Doge-1 spacecraft to the moon in 2021.

The mission will be funded with Dogecoin. People are excited for Dogecoin’s big day, but Mishaboar, who is a community member, says not to expect too much.

The X user reminds everyone, especially newbies, that special events in crypto can often lead to ups and downs, so it’s good to have fun but stay calm.

The upcoming event of sending a physical Dogecoin to the moon could generate increased interest and speculation around Dogecoin, which could spike demand and rally DOGE’s price.

Dogecoin Best Alternative to Consider: Meme Kombat

We are so so close to our next milestone

But $6.3 million in the bag LFG! pic.twitter.com/SqohXEN28R

— Meme Kombat (@Meme_Kombat) January 8, 2024

As the crypto market anticipates the next bull run, Meme Kombat presents an appealing alternative for investors looking to diversify their portfolios. Its presale has garnered massive attention, and experts think it could beat older meme coins like Pepe and BONK.

Online these meme coins, Meme Kombat finds utility in the gaming landscape and could leverage this to scale its price and leave a mark in the crypto space.

Meme Kombat isn’t just making a battleground; it’s bringing together passionate meme communities. This unique way of combining distinct communities brings Meme Komba’s innovativeness to light.

Meme Kombat: A Play 2 Earn Marvel Raises $6.3 Million in Presale

This project has created a massive buzz in the crypto space, raising over $6 million in the ongoing presale. Users who buy the MK token can participate in exciting battles to earn real money.

They can join the fun and get into the action with AI and blockchain for a unique gaming experience. By staking your Meme Kombat (MK) coins, play games and explore a world of possibilities.

NFT Update

Our artist is hard at work creating the very detailed NFTs that you see below, but it is taking more time than we anticipated.

With that said, unfortunately our marketing or development team aren't artists. But we would like to keep you in the loop nevertheless pic.twitter.com/GI52hDDdLf

— Meme Kombat (@Meme_Kombat) January 7, 2024

Furthermore, users can own NFTs, which is another way of earning in the Meme Kombat ecosystem. They can also bet on battle outcomes for extra $MK tokens and make more through staking.

Currently, you can earn an impressive Annual Percentage Yield (APY) of 149%.

Over 26 million MK tokens have already been staked, and the project has rewarded participants with 5,000,000 MK tokens. Experts predict Meme Kombat will be one of the top meme coins in 2024 and could increase tenfold after listing on cryptocurrency exchanges.

Each MK token trades at $0.279, and you can buy them by swapping ETH or USDT on the presale website.

The post Dogecoin (DOGE) Loses 3% as Meme Kombat Raises Over $6.2 Million; What’s Next? appeared first on The Tech Report.

DOGE Fell Sharply Yesterday; Is the Downward Trend Back While This New Meme Coin Gets More Eye Balls

Nick Dunn — Fri, 05 Jan 2024 07:39:50 +0000

The forerunner meme coin, Dogecoin (DOGE), saw a huge red candle yesterday, January 3, 2024, which triggered massive bearish market sentiment. Notably, as of 7:30 a.m. EST, DOGE is trading at $0.082 with a 1% price decline in the past 24 hours.

According to CoinMarketCap, Dogecoin has recorded a seven-day price decline of 10% and down by over 5% in the last 30 days, suggesting the bears are still very much in control.

Investors are now wondering whether the coin has changed direction to the downside or if it’s just a minor correction.

However, the following price analysis might provide a valuable clue as to which direction DOGE is headed in the coming days.

Dogecoin Price Action

From the daily chart, DOGE’s price has been following a descending channel since December 11, 2023. Usually, these channels have corrective movements. Yesterday, the price dropped below the channel’s support trend line.

However, DOGE’s bulls tried to prevent further downslide by exerting strong buy pressure. As a result, Dogecoin found a support of around $0.075, and after that, DOGE returned to the channel.

Dogecoin Price Analysis

DOGE’s descending channel signals a deeper decline as support levels fail. The meme coin is below the Bollinger Band indicator, reflecting the weakened momentum and further decline.

Moreover, the moving average divergence/convergence remains below the signal line, indicating that the bearish sentiment still outweighs the bullish pressure.

For Dogecoin to reverse course, buyers must reenter in full force and reclaim lost support levels. If enough bullish volume returns, Dogecoin could regain its channel, and the price may reach 10 cents.

However, surging over 30% from the current level near $0.082 would require a lot of buying pressure.

The indicators show that DOGE has lost long-term channel support. Unless buyers quickly negate selling pressure, lower lows will likely persist.

Big DOGE Movements: Whales Make Major Transfers as Dogecoin Faces Price Fluctuations

Big DOGE holders made large moves recently, causing a lot of speculations and uncertainties among investors who question their intentions. According to Whale Alert, these big holders moved 635 million tokens (worth $52 million) through Binance and Robinhood.

On Binance, 300 million DOGE (worth $24.62 million) was moved from an unknown wallet. Another 151.68 million DOGE (worth $12.49 million) went from Robinhood to an undisclosed wallet earlier.

Two more transfers of 102.27 million DOGE ($8.40 million) and 82.08 million DOGE ($6.74 million) headed to Robinhood.

Whales are selling their DOGE during the recent price drop, mostly to crypto exchanges. However, one move, shifting DOGE from Robinhood to an unknown wallet, suggests some are betting on DOGE’s future rise.

Dogecoin Alternative: Meme Kombat

Meme Kombat, a new Play 2 Earn meme project on Web3, presents an attractive alternative for investors looking for low-cap projects with high returns.

Unlike most meme coins, Meme Kombat has a utility that could ensure its relevance and maintain a stable future price. Therefore, some experts think it would likely outperform gems like PEPE & BONK.

Meme Kombat: Fun, Profitable Play-to-Earn Web3 Project Surpasses $5.9M in Presale

Meme Kombat has raised over $5.9 million in its presale. Its ability to combine AI and blockchain for a unique gaming experience has attracted massive investor interest.

Players can stake coins, play games, and more. It features popular meme characters and promises more excitement as it continues to unveil new ones and reward opportunities.

Betting on battle outcomes will give users an extra $MK tokens, while staking $MK allows them to earn more with a fantastic Annual Percentage Yield (APY) of 157%. Over 25 million MK tokens have already been staked.

Some experts predict Meme Kombat to be one of the best meme coins in 2024, with a 10x surge potential after listing on exchanges.

Now is the best time to key in for higher future gains. You can buy the token at the presale page using either ETH or USDT.

The post DOGE Fell Sharply Yesterday; Is the Downward Trend Back While This New Meme Coin Gets More Eye Balls appeared first on The Tech Report.

Top Crypto Gainers on January 4 – BEAM, AKT, And TIA

Nick Dunn — Fri, 05 Jan 2024 06:30:49 +0000

The crypto market is shifting quickly from an accumulation phase to a retracement cycle. Remarkably, the total crypto market cap value is down by 4.9% as Bitcoin also drops to $42,874, losing 5% of its gains in 24 hours.

This drop in Bitcoin’s value caused the liquidation of over $595 million in long positions within 24 hours on January 3. While there is no particular cause for the drop, a report credited to crypto financial services Matrixport might have contributed to the decline.

Despite the current retracement, some altcoins continue to record impressive gains in the past 24 hours. Community efforts and developments are aiding these altcoin gains.

More interesting facts on these crypto tokens, including their presumed growth trajectory, are covered below.

Beam (BEAM) – The GPU Mining Solution

BEAM’s price at 4:06 am EST is $0.14, with a 6.2% increase in the past 24 hours and a 33.0% gain in the last seven days as more traders continue to accumulate the tokens.

Beam has started the year on a positive note, with its block emission halving underway.

The $BEAM block emissions is scheduled for a halving on 3rd January, 2023.

Token emissions will be halved from 26,280,000 $BEAM emitted per year to 13,140,000.

For the comprehensive $BEAM Emission Schedule:https://t.co/5F6qiO32or pic.twitter.com/efH5okhyLf

— BeamPrivacy (@beamprivacy) January 3, 2024

According to a January 3 announcement, the token emission will be halved from 26.280 million $BEAM emitted each year to 13.140 million. Furthermore, developments such as the upgrade of Beam’s L1 and asset bridges are part of the roadmap for 2024 and are likely contributing to the excitement.

On the daily chart, BEAM has formed a large green candle as the buyers continue to sustain its rally.

BEAM is Moving to the Overbought Region; Will the Buyers Prevail?

BEAM continues its positive price form in the last seven days, forming higher highs on the daily chart. It flipped the $0.12 resistance level to support and is presently testing the $0.15 price level. The large green candle formed today shows that the buyers have entered an aggressive accumulation phase.

Also, BEAM is trading above the Parabolic SAR indicator, which is a bullish signal for the token. The Relative Strength Index indicator shares the bullish sentiment, rising to the overbought region and displaying a value of 67.26.

So, BEAM will likely break above the $0.15 resistance level in the coming days and enter into the overbought region.

Akash (AKT) – The Open-source Cloud For Buying and Selling Computing Resources

AKT’s price at 4:09 am EST is $2.65, with a 12.4% increase in the past 24 hours and a 9.2% seven-day price gain.

While the approval of Bitcoin ETFs remains speculative, GPU shortage is an issue for most individuals, and Akash hopes to solve this problem with its permission-less and censorship-resistant peer-to-peer framework.

The approval of the Bitcoin ETF is uncertain, but the GPU shortage is, and Akash is at the forefront of solving it.

Permissionless. Censorship Resistant. Peer-to-peer.

→ https://t.co/xZpXihpcEy #AISuperCloud $AKT pic.twitter.com/0vUI3VfXw9

— Greg Osuri ⟁ d/acc (@gregosuri) January 3, 2024

According to an article by Semafor, researchers and startups that can’t get GPUs can use blockchain markets to access computing power. Akash provides this GPU mining solution with ease.

So, while miners prepare for the upcoming Bitcoin halving, GPUs might become a hot cake, making Akash one of the most sought-after solutions. This could be driving the ongoing AKT rally.

AKT Facing Resistance at $2.68, Will It Break Above?

On the daily chart, AKT is under the control of the buyers as they attempt to rally above the nearest resistance level.

AKT has formed a second consecutive green candle, confirming a return of the buyers. After a brief retracement between January 1 and 2, the bulls are rallying again and presently testing the $2.68 resistance level. Akash has found support at $2.54, a pivot point for further price gains.

The asset is fast approaching the overbought region, as the RSI is at 64.89. Although the MACD is below its signal line, it is rising and will likely be above in the next few hours.

The fading red Histogram bars hint at a returning bullish momentum, and if it continues, AKT will likely break the $2.68 resistance in the coming days.

Celestia (TIA) – Leading Modular Blockchain Protocol to Deploy Minimal-Overhead Blockchain

Celestia (TIA) stands out as one of today’s top gainers. Its surge is likely driven by several key factors, including the positive market sentiment and some exciting developments in its ecosystem.

TIA’s price jumped up by a big 22% today because people are hopeful that the US Securities and Exchange Commission (SEC) might approve the first spot Bitcoin ETF, a development believed to bode well for crypto.

As of 9:18 am EST, Celestia’s current price is $14.71, up by 25%, approaching the all-time high of $15.20 recorded on December 24, 2023. This suggests that buyers are earnestly working to reclaim the previous high.

TIA Records Progressive Higher Highs; Time to Buy or Sell?

Looking from the “Chart Pattern” perspective, there’s potential for a continuation of the bullish trend in the coming days. According to the chart above, TIA recorded progressive higher highs on December 14 and December 24, 2023.

Today, January 4, 2024, its green candlestick wick is higher than its past levels.

Considering this pattern, it’s likely that buyers will uphold their strength, triggering more BUY trades and increased value in the long run. Also, the Relative Strength Index is at 65.54, pointing upward. This confirms the bullish momentum in TIA’s market.

Conversely, the overall market sentiment is bearish, based on the arrangement of the 50-day and 200-day Simple Moving Average. Should any negative event occur in the overall market? TIA might lose its gains drastically. But there’s a support level at $12.43 to trigger a bounce if such happens.

On the other hand, it has a resistance level of $14.14, indicating a level at which the price could stall when recovering from any potential fall. While TIA’s market looks good for placing SELL orders to make a profit, it’s advisable to confirm the trend before proceeding.

Meme Kombat (MK) – A Competitive Alternative Ahead of Anticipated 2024 Bull Market

The Meme Kombat (MK) presale has been a resounding success, attracting significant attention and investment interest within the crypto community. It has managed to raise a notable sum, raising a whopping $5.99 million from investors and propelling the project into the limelight.

Meme Kombat’s presale has garnered substantial interest due to the platform’s unique gaming features and earning potential. By combining meme coins and prediction-based betting, Meme Kombat offers crypto enthusiasts an engaging new opportunity.

Several key Factors Drive Interest in the Presale

The broader altcoin market gains momentum at an opportune time to fuel Meme Kombat’s growth. With increased altcoin activity, investors look beyond the major coins to high-growth alternatives – a domain where Meme Kombat thrives.

At the core of Meme Kombat’s appeal is the ability to earn returns through betting and staking activities.

The new live betting feature enables users to predict meme coin performance while earning staking rewards up to 184% and minimizing fees through an integrated staking mechanism. This combination incentivizes engagement.

By heavily featuring high-growth meme coins, facilitating prediction-based earning features, and entering the market at an optimal time, Meme Kombat establishes itself as an appealing new platform primed for presale success given current crypto conditions.

Meme Kombat has attracted investors and traders due to its similarities with successful Ethereum-based projects like $PEPE. Having raised over $5.99 million in its Initial Coin Offering (ICO), Meme Kombat has demonstrated its potential.

It has also achieved 50% of its presale milestone, meaning a limited opportunity for investors who wish to join early.

Ultimately, the enthusiastic response to Meme Kombat’s presale likely reflects a growing appetite for innovative and potentially lucrative cryptocurrency projects.

With a successful ICO fundraiser and strategic token allocation, Meme Kombat seems poised for tremendous growth in the DeFi space.

Conclusion

Price fluctuations are not new to the crypto market. With the rise of several new altcoins, the crypto market continues to grow in adoption and utility. Despite Bitcoin’s slight decline, some altcoins still record impressive gains in the past 24 hours.

However, the liquidations suffered by some traders in long positions show why proper risk management is vital to traders. If the Bitcoin ETFs are approved, then it will likely boost the market and force a recovery.

Also, the Bitcoin halving in April could help the long-term performance of the crypto market this year.

The post Top Crypto Gainers on January 4 – BEAM, AKT, And TIA appeared first on The Tech Report.

Bitcoin (BTC) Sheds Off 8% in One Day after Price Tested $45K – Time to Diversify?

Nick Dunn — Thu, 04 Jan 2024 04:30:00 +0000

Bitcoin (BTC) started the year 2024 by printing new green candles. This made a lot of people go home with huge profits.

On January 02, the price of BTC reached a high of $45,000, a level not tested since April 2022. Many believe this pump is tied to the anticipated approval of spot Bitcoin exchange-traded funds (ETFs).

Unfortunately, this ride to the moon was short-lived as more people took out profit, which affected the price. According to CoinMarketCap, in the last 24 hours, BTC is down by more than 8%.

As of 6:20 a.m. EST, it traded for around $42,000, meaning it has lost approximately $3,000 in just one day.

It’s too bad for other digital assets; this drop in value affected the general market, which is down by over 3%. However, several other factors show that the Bitcoin rally might resume soon.

MicroStrategy Chairman Micheal Saylor Initiates $216 Million Shares to Boost Bitcoin Holdings.

MicroStartegy’s boss, Micheal Saylor, is selling $216 million of his company’s shares. Notably, one of his reasons for the sale is to buy more BTC. He already started on January 2 by selling 5,000 shares out of the 315,000 he got in 2014. These shares will expire in April 2024.

Further, the CEO plans to sell 5,000 shares daily for four months. Also, he said,

Exercising this option will allow me to address personal obligations as well as acquire additional Bitcoin to my personal account.

If Saylor uses all the money from selling shares to buy Bitcoin, it could affect the price significantly. More people buying Bitcoin usually makes its price go up. So, if he puts a lot of money into Bitcoin, it might push up the price.

It’s important you know that based on a November 01 filing with the U.S. SEC, Saylor might sell a total of 400,000 shares. That’s between January 2 and April 26, 2024.

Bitcoin Price Analysis: Fluctuating Signals Amidst Bullish Optimism and Bearish Pressures

Earlier today, Bitcoin’s price dropped below its upward trendline, indicating a break in the recent bullish optimism. This key support break often foreshadows further declines ahead.

Yet, Bitcoin currently shows signs of rebounding back toward the breached trendline, implying that bulls are actively buying the dip and trying to sustain the previous uptrend.

Bitcoin also hovers around the midpoint of its Bollinger Bands. Closing today back above the band’s middle line would strengthen the bull case in the short term. However, strong red histogram bars on the MACD reveal bearish momentum is increasing today.

This bearish divergence means downside risks remain elevated.

Importantly, if selling pressure persists, notable support zones lie around $40,200 and $35,000. Bulls want to avoid a close below those areas. Otherwise, a retest of 2022 lows near $30,000 could occur amidst weakened buyer confidence. In essence, Bitcoin currently exhibits conflicting signals.

Remaining above key supports and recovering upward momentum would indicate the bull run steadily resumes. But failure to reclaim the broken trendline and hold support risks a bearish breakdown as negative sentiment broadly spreads across crypto markets.

If Bitcoin consolidates above $40,000 convincingly, its technical position strengthens again for retesting upper resistance zones ($45,000). Yet, with indicators flashing warnings, it is wise for traders and investors to manage risks properly. The next few days will be crucial for Bitcoin.

Should Investors Consider this New Mining Project Bitcoin Minetrix as Bitcoin Potential Alternative

In the world of cryptocurrency, diversification is the number one priority for many investors. That’s because they want to profit more and reduce risk.

This new mining project known as Bitcoin Minetrix can be a potential investment for investors who want to enrich their pockets with 10x gains.

Bitcoin Minetrix has caught much of investors’ attention, but the big question is: Is it any different from preceding projects?

Bitcoin Minetrix Gaining Steam in Presale

The new crypto project Bitcoin Minetrix already raised over $7.3 million in its presale, nearing its $7.9 million goal fast. One BTCMTX currently sells for 1.26 cents. With demand surging, the chance to join is closing quickly.

According to the site, the presale will likely be in the next couple of days. Analysts forecast the price of BTCMTX could surge after it goes live on notable exchanges.

What sets it apart is the fact that it provides a decentralized cloud mining solution.

This gives crypto users an easy way to earn Bitcoin mining rewards without expensive hardware or scam risks. It works by staking the BTCMTX token and receiving coins to redeem for transparent cloud mining. The model aims to make secure mining accessible for everyone.

BTCMTX Price Could Skyrocket After Listing

Given Bitcoin Minetrix’s popularity and real-world utility, BTCMTX may gain big once everyone can start trading it. The presale’s huge $7.3 million in funding shows massive investor demand already exists.

By solving cloud mining challenges, Bitcoin Minetrix seems positioned as an attractive emerging crypto project. Its staking model allows everyone to participate in Bitcoin mining’s upside.

Innovations like this capture investor attention fast. So, the chance to buy BTCMTX early could pay off down the road.

The post Bitcoin (BTC) Sheds Off 8% in One Day after Price Tested $45K – Time to Diversify? appeared first on The Tech Report.

Top Crypto Gainers on January 3 – MKR, ICP, And BLUR

Nick Dunn — Thu, 04 Jan 2024 02:50:49 +0000

The crypto market’s early surge in 2024 has suffered a retracement after Bitcoin dropped to $ 42,271 today. So, BTC has lost 7.3% of its gains in the last 24 hours. As such, the market also suffered as the global crypto market cap fell by 7.82%.

This dip is not likely due to any extremely bearish activity but confirms that the crypto market is still highly volatile.

However, despite the price slump, some altcoins have still recorded massive gains in the past 24 hours. These altcoins rely on exciting developments and a vibrant community to achieve impressive gains. More vital facts about the top gainers are captured below.

Maker (MKR) – The Governance and Finance Protocol

MKR trading price at 10:03 a.m. EST is $1,771, with an 8.0% increase in the past 24 hours. Also, it recorded gains of 19.3% in the last seven days as the buyers continued to uphold its price.

Despite a slight price decline, the Maker DAO continues to record impressive milestones in the last few weeks, boosting its value.

One of the factors supporting this rise is the Chronicle Protocol, which has been developed for over two years and accepted by the wider crypto community.

In September 2023, we unveiled Chronicle Protocol, making it available outside of @MakerDAO for the first time.

We were overwhelmed by the response it received, w/ coverage in @Blockworks_, @CoinDesk, @Cointelegraph, @MessariCrypto, & many more.

The engineering team, which… pic.twitter.com/S7QXET750T

— Angus Tookey | Chronicle | Powering MakerDAO (@AngusTookey) December 24, 2023

Also, CoinMarketCap reported that MKR has been bullish since June 2023, gaining up to 300% on its value. However, on the daily chart, it faces resistance as buyers begin to take profit.

MKR Facing Resistance At $1839.73 What Next For The Token?

MKR has formed a red candle on the daily chart, and the long lower wick suggests that the sellers attempted to drop the asset’s price further. However, the $1777.41 support level has sustained MKR from further decline.

Despite the bullish engulfing pattern formed on January 2, MKR faces rejection at the $1839.73 resistance level, leading to a further decline in the asset. Notably, the RSI displays a value of 72.43 in the overbought region above 70.

However, the indicator is retracing and will likely return to the neutral zone below 70 if the sellers prevail.

Also, the Moving Average Convergence/Divergence (MACD) shows a weakening buy signal, confirmed by the fading green Histogram bars. Therefore, MKR will likely decline if it closes below the $1777.41 support level today.

Internet Computer (ICP) – The Blockchain for Web-based Services

ICP trades at $14.09, with an increase of 7.5%. It has gained 55.7% in the last seven days as buyers continue to dominate its price. The Internet Computer ecosystem recorded massive growth in 2203 and will continue to grow in 2024.

Celebrate the journey from #ckBTC to #ckETH with us

It's been a year of progress, and we're grateful for the support of our incredible community

Embark on the next chapterhttps://t.co/QqTRD9GO5U

— DFINITY (@dfinity) December 29, 2023

One of the most significant innovations in the ecosystem is the trustless multi-chain built on ICP. It offers users security, safety, and a more convenient experience.

Also, listing new assets on the multi-chain has drawn more investors to the ecosystem, boosting its overall value. ICP faces resistance on the daily chart but will likely break through in the coming days if the buyers refuse to relent.

ICP Forms Bearish Doji Will The Decline Continue?

ICP has formed a long-leg Doji on the daily chart as the sellers attempt to limit its price gains from January 2. It found vital support at $13.37 but faces stiff resistance at $13.97 as it tries to rise to $14.

However, ICP is trading above the Parabolic SAR indicator, a bullish signal indicating further price increase.

Also, the RSI indicator is in the overbought region with a value of 78.9 and moving sideways. This implies that the asset’s price can go either way. Therefore, investors must watch out for the close of today’s candle and a possible retracement of the RSI indicator to know its next price moves.

Blur (BLUR) – The Privacy-Focused Peer-to-Peer Network

BLUR’s price at 10:07 a.m. EST is $0.52, with a 1.75 increase in the last 24 hours. Also, it recorded slight gains in the previous seven days as the sellers attempted to limit its price.

BLUR continues to claim higher highs in the new year despite the resistance faced by sellers. One of the factors driving its price gains is its dominance in the NFT market from December 2023.

Blur dominates almost 80% of NFT trading volume as market activity spikes https://t.co/L3mBo0dVYA

— The Block (@TheBlock__) December 4, 2023

Remarkably, Blur dominated almost 80% of NFT trading volume late in December 2023. Also, nearly $70 million in transactions were conducted on the Blur NFT marketplace within this period.

Based on its price performance early in 2024, it is safe to say that the buyers are still active and supporting its price gains. BLUR has also formed a green candle on the daily chart today.

BLUR is attempting to overcome the $0.51 resistance level. Will the buyers prevail?

BLUR has formed three consecutive green candles on the daily chart as the buyers attempt to sustain its rally. After finding support at $0.48, it encountered resistance at the $0.51 price level.

However, today’s candle’s long upper and lower wick suggests that the buyers and sellers are evenly matched for the token.

Also, BLUR is trading close to the upper region of the Donchian Channel (DC), a bullish sentiment that hints at a price increase in the coming days. Additionally, the RSI indicator displays a value of 52.95, rising to the overbought region close to 70.

If the RSI rises above 60, BLUR will likely break above the $0.51 resistance level in the coming days.

Bitcoin Minetrix – Hassle-Free Bitcoin Mining for Long-Term

As a top crypto gainer today, January 3, 2024, Bitcoin Minetrix boasts over $7.3 million raised out of its $7.9 million target in the presale widget. Considering these values, the presale is selling rapidly and could wrap up in the next two days.

Happy New Year, #BTCMTX Communtity!

Surpassing $7,200,000 is a stellar way to start 2024.

Here's to an incredible year ahead!#HappyNewYear #CryptoMilestone pic.twitter.com/IGO0Jv70AA

— Bitcoinminetrix (@bitcoinminetrix) January 2, 2024

Bitcoin Minetrix’s project is powered by a native token, which is $BTCMTX, and its price is currently at $0.0126. So, if you’re interested in this top-performing project, join the presale before it ends.

Apart from massive buying activities, there are many variables attracting investors and traders alike to this project.

First, Bitcoin Minetrix poses as a decentralized cloud mining solution. As such, it presents a dependable cloud mining podium for daily cryptocurrency users. It aims to address the challenges of lofty hardware costs and misleading scams that hinder people from Bitcoin mining.

With Bitcoin Minetrix, users can easily stake their native tokens ($BTCMTX) to avail of cloud mining rewards. Given this decentralized strategy, the interests of users are safeguarded.

Thus, there is a guarantee for a transparent and secure mining experience.

BTCMTX Nears the $7.9 Million Target – Could It Reach $1 After Launching on Exchanges?

As evident on the presale widget, the token has raised over $7.3 million, close to the $7.9 million presale target. This shows that many investors and traders are interested in this project and its token.

As such, it could make impressive gains when it lists on exchanges.

Some variables that could make this possible are the project’s use cases and solutions in the crypto space. Bitcoin Minetrix comes with a Stake-to-Mine Bitcoin mining model.

This model allows users to buy and stake $BTCMTX using their Ethereum-compatible wallet like MetaMask.

In return, the users receive non-tradable ERC-20 coins that undergo the burning mechanism to sustain the power of the BTC cloud mining. So, considering the high interest of traders and investors and the revolutionary solutions provided by the project, BTCMTX could make massive gains when it hits exchanges.

Meme Kombat – Innovative Gaming Podium for Gaming Enthusiasts

Meme Kombat is another ground-breaking project in the meme coin world with enriching features for game lovers. As the name implies, it operates on a stake-and-play-to-earn model to reward its users for keeping the platform active.

Whether you join an active bet or go for passive staking, Meme Kombat uniquely rewards all your participation on the platform. Given its simple objectives, the project’s presale is attracting many gamers, meme enthusiasts, and meme coin traders.

As a result, the $MK token is amassing $5.8 million out of the $6.5 million target. Also, according to the presale widget, the presale will end the next day.

If you’re interested in this project, the $MK token sells for $0.268, which is a good entry point. Swap your ETH or USDT for the token and be part of this futuristic meme coin.

Variables Driving Meme Kombat to the Top

As seen above, there is an attractive Annual Percentage Yield (APY) of up to 161%. For this reason, stakers are likely getting involved to be part of such a yield.

With 77% of $MK already staked, many seem drawn to earning rewards by participating in the meme-battling project.

This platform lets users stake their $MK tokens in the Meme Kombat Arena, where they can bet on battles and earn rewards while supporting their chosen champions.

The potential for high returns through staking and engaging in these meme battles is likely encouraging more people to join in on the action.

Another variable that could be driving the surge in the total $MK purchase in presale is the UI updates coming on the Meme Kombat platform.

According to the project team on X.com, there will be an updated wagering interface, stats, leaderboard, AI battle log, and more sophisticated features such as countdowns for wagers and fights.

Kombat UI:

We are working on:
– Wagering interface
– Leaderboard
– Stats
– AI Battle Log
– More misc features like countdowns to fights and for wagers etc.

Note that as soon as we feel comfortable with our near final looks we will share it all with you.

— Meme Kombat (@Meme_Kombat) January 3, 2024

Conclusion

The crypto market declined today following rumors that the SEC will likely reject all Bitcoin spot ETF applications. However, the fate of the crypto market remains highly speculative ahead of the January 10 deadline for an ETF approval.

Despite the decline, investors are turning to altcoins, making them record impressive gains in the last 24 hours.

These altcoins offer their community an exciting roadmap and a low entry point for investors who missed out on BTC and top cryptos. Nevertheless, the price outlook of the crypto market today serves as a reminder that volatility is constant.

Therefore, proper risk management is always necessary.

The post Top Crypto Gainers on January 3 – MKR, ICP, And BLUR appeared first on The Tech Report.

DOGE Posts New Gains While Meme Kombat Remains Strong in Presale – Time to Start Bagging?

Nick Dunn — Wed, 03 Jan 2024 06:40:21 +0000

Dogecoin (DOGE) has resumed its rally as new green candles appear. This growth in the price of Dogecoin is likely attributed to the heightened optimism in the broader crypto market.

According to CoinMarketCap, the overall crypto market is up by more than 5% today, January 02, 2024.

Considering the ongoing market sentiment now might be the best time to start accumulating DOGE before the main rally begins. But while Dogecoin is growing, this new project known as Meme Kombat is also making headlines.

Dogecoin Resumes Ascent Following Days of Moderate Losses

DOGE, the forerunner meme coin, shed nearly 1% value over the past week, currently trading around $0.092 as of Tuesday, 07:20 EST. In the last 24 hours, prices have gained roughly 3%. This might be the start of a ride to the moon Doge fans have been waiting for.

Notably, Dogecoin has actually gained over 12% in value in the last 30 days. Since December 2023, Dogecoin has been on a minor bearish movement. The coin dropped from $0.1 on December 09 to $0.08 on December 30.

Dogecoin has shown remarkable resiliency, finding support around the $0.08 -$0.09 zone so far into 2024.

Looking at the chart, since January 01, there seems to be a change in market sentiment. The coin is forming new green candles. Of course, that is a good sign. A closer look at today’s performance reveals some strong bullish signs.

X-raying the technical might give clues on where this crypto asset goes next.

Dogecoin Price Analysis as the Bulls Return

Dogecoin (DOGE) struggled on the last day of 2023, as prices kept dropping from mid-December into 2024 after the earliest rallies stalled as the crypto buzz hushed.

But just as investors might’ve given up hope, Dogecoin started showing new signs of life, and its price recently started riding an upward trendline.

The daily chart shows that the coin has posted some higher highs, implying that buyers are returning and momentum is building. Already, this bullish trajectory bounced Dogecoin up from around $0.08 to over $0.09 on January 02.

Market participants now eagerly watch if this newfound momentum can push DOGE over 10 cents soon.

Considering how things are going, hitting that important psychological level ($0.10) again looks achievable. More good news could propel Dogecoin back toward this level. But, of course, threats are also present.

If Dogecoin closes below its new upward trendline from heavier selling, the bull case weakens. Plus, those red histogram bars on MACD indicators show bearish sentiments currently outweighing bullish.

But as the red fades, Dogecoin’s price uptrend appears powered more by buyers, and that’s a very good sign. Overall, Dogecoin’s technical setup looks good for now after weeks of uncertainty.

Patient holders may be rewarded if the buying momentum persists. Still, smart purchases during dips help reduce the risk should crypto volatility strike again.

Renowned Analyst Ali Martinez Signals Upward Momentum for Dogecoin

Crypto expert Ali Martinez recently shared an optimistic view on Dogecoin. He says rising numbers of new Dogecoin wallet addresses look promising for future growth.

More new users often foreshadow upcoming price jumps. This bullish indicator may fuel a Dogecoin rally soon, according to Martinez.

#Dogecoin is experiencing a notable network expansion! There's a steady rise in the creation of new $DOGE addresses, consistently reaching new highs.

This increase in network activity is a promising sign for #DOGE as it lays the groundwork for a potential upward price action. pic.twitter.com/WcWxRY6ZGU

— Ali (@ali_charts) December 23, 2023

Already, Dogecoin rose from around 9 cents on December 18 to over 9.3 cents by December 25. Plus, Dogecoin now trades higher than the past 100 and 200-day averages, which is another bullish sign of strength.

Given these positive trajectory signals, many analysts boldly predict Dogecoin could hit $0.33 soon.

If new address growth and trading momentum continue, this top meme coin seems positioned to keep climbing. The Dogecoin community loyalists may once again have their patience rewarded.

But if you are not convinced by Dogecoin’s potential, you may consider this new meme project, Meme Kombat.

Dogecoin Potential Alternative, Meme Kombat, Hits $5.7 Million in Presale

Meme Kombat ($MK) is currently in presale and is doing really well. Unlike DOGE, Meme Kombat has a gaming utility that could ensure it stays stable.

Meme Kombat, a fun new Play 2 Earn meme project on the Web3 platform, raised over $5.7 million in its presale. People have been really interested in this cool meme coin since it came out.

Meme Kombat Promises Massive Income with Immersive Gaming Experience

Meme Kombat brings together AI and blockchain for a special gaming experience. Investors get to play games and stake their coins, having lots of options. You can play different games and aim to be the best.

It introduces popular meme characters, with plans for even more excitement as new characters, battles, rewards, and opportunities are unveiled. Investors can also bet on battle outcomes for extra $MK tokens.

Staking $MK coins gives holders a chance to earn a fantastic Annual Percentage Yield (APY) of 164%.

Currently, more than 2 million MK tokens have been staked on the platform. Experts say Meme Kombat will be one of the best meme coins this 2024, following the success of PEPE, and might go up 10x after getting listed on cryptocurrency exchanges.

Now is the time to buy in before the presale ends. Visit the project presale page and buy the token with either ETH or USDT.

The post DOGE Posts New Gains While Meme Kombat Remains Strong in Presale – Time to Start Bagging? appeared first on The Tech Report.

Top Crypto Gainers on January 2 – SEI, MINA, And ASTR

Nick Dunn — Wed, 03 Jan 2024 06:09:40 +0000

The global crypto market is on a positive trend as participants anticipate the unfolding of long-awaited events. Remarkably, the total market cap has increased by 5.2% to $1.83 trillion in the last 24 hours.

Bitcoin broke above the $45,000 level today for the first time since April 2022.

Perhaps the possible approval of Bitcoin ETFs in the next few days is driving the current rally. So, the top crypto gainers benefit from the resurgence of Bitcoin ahead of upcoming bullish events such as the upcoming Bitcoin halving in April.

More facts and price patterns of the top gainers are covered in detail below.

Sei (SEI) – The Trade-Focused Blockchain

SEI’s price at 9:46 a.m. EST is $0.76, with a 21.1% increase in the past 24 hours. Also, in the past week, SEI has gained 59.7% in its price as buyers continue to dominate the market, forcing sellers to retreat.

Sei network recorded amazing growth in 2023, with some new features introduced, including the Atlantic-2 testnet and the Pacific-1 Mainnet Beta.

Sei has seen an unbelievable year of shipping, learning and growth in 2023:

Atlantic-2 Testnet
Strategic Raise
Pacific-1 Mainnet beta
Fastest Chain at 390ms ttf
1.1 Billion Transactions, zero downtime
Parallelized the EVM internally

2024 is the year of the dragon; a… pic.twitter.com/cjhxN58I14

— Sei (@SeiNetwork) December 31, 2023

The network recorded over 1.1 billion transactions in 2023 and zero downtime. Also, the developers stated that 2024 will be a year of innovation and execution. With over 600,000 Twitter followers, Sei is attracting massive attention from the crypto community.

On the daily chart, SEI has formed a bullish pattern as the buyers continue to accumulate the tokens.

SEI Buyers Target $0.74, Will It Break Above?

SEI has formed a rising wedge pattern on the daily chart as the buyers continue to push the price higher. After a rally between December 25 and 26, it declined on December 27 as buyers began to take profit.

However, the Maribozu Candle, formed on January 1, shows rising optimism among investors for the token.

The green candle formed today serves as further confirmation that SEI buyers are still active. SEI has found support at $0.71 and is attempting to break above the $0.74 resistance level, a move that will send the asset to $0.75 as the next realistic profit target.

Also, SEI is trading above the Parabolic SAR, which is a bullish signal indicating further increase ahead. Additionally, the Relative Strength Index (RSI) is 80.23, in the overbought region above 70 and still rising, confirming that the buyers are still in control.

Therefore, SEI will likely break above the $0.74 resistance level if the buyers sustain their charge.

Mina (MINA) – The Lightweight L1 Blockchain

MINA trades at $1.55 with an 11.0% increase at 9:48 a.m. EST. It has gained 31.1% in the past seven days, confirming buyers’ dominance. MINA protocol ranks as one of the most innovative blockchains and has attracted many users due to its relatively small size.

Mina ecosystem with mainnet upgrade, ETH bridges, L2s, and commercial zkApps in 2024 pic.twitter.com/InEPzjwBpo

— Mina Developers (@MinaDevelopers) December 28, 2023

According to the developers, the Mina ecosystem will record major achievements in 2024. They include the mainnet upgrade, ETH bridges, Layer-2s, and commercial Zappos. However, on the daily chart, MINA faces resistance despite a positive performance in the past week.

MINA Facing Resistance at $1.55; Is The Rally Over?

MINA faces stiff resistance at $1.55 after forming a large green candle on January 1 as the buyers attempted a break above this level. However, a rejection occurred, leading to an inverted hammer forming on the daily chart. While the RSI is in the overbought region with a value of 73.21, it shows signs of retracement.

The RSI indicator is dropping and will likely drop to the neutral zone close to 50 in the coming days if the bulls are unable to overcome the $1.55 resistance level. Also, the Moving Average Convergence/ Divergence is above its signal line and displays a weak buy sentiment.

The fading green Histogram bars suggest a possible retracement ahead for MINA in the coming days. Therefore, MINA will likely drop to the $1.45 support level in the coming days if the buyers fail to overcome the $1.55 resistance level.

Astar (ASTR) – Top Parachain Network of Polkadot

Astar has been among the top gainers in the crypto world today. Its price shot up by 18.95% in just one day, way higher than the overall cryptocurrency market, which only grew by approximately 5%.

Also, over the past week, Astar surged by a whopping 48.47%, outperforming other similar cryptocurrencies that recorded a 7% increase during the same timeframe.

This surge could be because more people are buying the coin lately, as shown by the trading volume jumping up by 228% to $120.7 million.

Investors might see something special in Astar compared to other cryptocurrencies, making its value grow so fast.

Astar Network is no stranger to significant price surges, and this recent spike isn’t just a coincidence. They’re on the brink of an extensive upgrade known as Astar 2.0, slated for release this year.

This overhaul promises substantial technological advancements, such as ensuring a more equitable distribution of block resources and implementing a more efficient burn mechanism.

Users within the Astar ecosystem are eagerly anticipating this significant leap forward. However, Astar’s impact isn’t solely confined to technological innovation.

The community has showcased its altruistic side by extending support to victims affected by the recent earthquake in Japan.

Through a dedicated donation stream, members of the Astar community are rallying together to contribute to this cause, highlighting the community’s solidarity and compassion beyond the realm of blockchain.

ASTR Price Outlook: What Height Could Be Attained?

The chart above depicts Astar’s price movements in the long run. Today, January 2, 2024, the asset’s price is at $0.1609, confirming the bullish sentiment in its market in the last 24 hours.

Its consecutive green candlestick shows a spike in BUY trades reflected in the skyrocketing 24-hour trading volume.

Considering this significant price rally, it’s likely that the $0.1695 level may pose a critical resistance, triggering a short-term dip in the coming days. This may lead to reduced trading activities and price loss.

As a result, the support at $0.1360 is a perfect position to trigger more buying momentum at low values.

Again, ASTR is trading above the 50-day and 200-day Simple Moving Average, and its Relative Strength index is ascending to 83.27. Therefore, the bullish momentum on Astar’s market could last longer, facilitating a potential breakout above the $0.1695 resistance before the weekend.

Meme Kombat (MK) – Battle with Meme Characters for Crypto Rewards

Meme Kombat has stormed into the crypto scene with a presale triumph, securing over $5.7 million and surpassing half of its $10 million hard cap target.

This substantial capital influx reflects a strong initial interest and confidence in the project’s potential within the meme coin and GameFi landscape.

The project aims to emulate the monumental success achieved by notable meme coins like Pepe and Shiba Inu, giants that have attained staggering multibillion-dollar market capitalizations.

Yet, the meme coin market has become a fiercely competitive arena, saturated with new projects entering the space regularly. Meme Kombat’s entry into this competitive space signifies its bold attempt to carve out its niche.

What Could Boost the Value of Meme Kombat ($MK)?

This rising star operates against the backdrop of an optimistic cryptocurrency market sentiment. Ethereum’s surge, reaching beyond $2,400, and Solana’s remarkable 20% gain have amplified the overall bullishness in the crypto sphere.

Notably, Solana-based meme coins like BONK have witnessed significant growth, adding further credibility to Meme Kombat’s ecosystem.

What distinguishes Meme Kombat from run-of-the-mill meme coins is its integration of gaming elements, introducing an engaging “Arena” where participants can wager on battles between meme characters.

Additionally, the project offers holders an enticing opportunity for passive income through staking, boasting an impressive Annual Percentage Yield (APY) of 184%. Also, 76% of existing $MK tokens are staked; this has overcome the selling pressure from most holders.

Furthermore, industry experts suggest the potential for a massive surge in the price of $MK, up to a tenfold increase post-launch. But, this will rely on the backing of community members and promotional work. Meme Kombat wants to create an excited and active group that loves games, creative artwork, and funny jokes.

Co-founder Artem Enn also thanked them for the great support they got during the presale. This makes it clear that their vision is to create a legendary meme coin battleground.

The project has a strong community with over 20,000 members on social media. The Meme Kombat community continues to buzz with excitement.

Eventually, Meme Kombat will roll out more game modes and exciting features that will attract more players. This ecosystem thrives on smart contracts, and $MK will likely be one of the breakout tokens in 2024.

Overall, the developers believe in the long-term prospects of Meme Kombat as the bridge between gaming and Web3.

Conclusion

If the Bitcoin ETF approval has the desired effect, the crypto market will likely be set for another possible bull run. However, cryptocurrencies are notoriously volatile; therefore, investors must be wary of possible retracements in the market.

Also, the upcoming Bitcoin halving might push the market to even higher levels after April 2024. Additionally, Bitcoin’s gains will likely be reflected in the prices of altcoins since they react to their price movements.

The post Top Crypto Gainers on January 2 – SEI, MINA, And ASTR appeared first on The Tech Report.

BONK Value Rally Over 20% in One Day: Can It Witness A 300% Price Rally?

Nick Dunn — Sat, 30 Dec 2023 06:30:00 +0000

The meme coin Bonk (BONK) saw its value increase by over 20% in just one Day. This massive single-day rally has many cryptocurrency investors excited about Bonk’s potential. At the beginning of the year, Bonk’s price was very low, trading at just a tiny bit of a cent.

Its price is still under one cent; however, hype and interest surrounding the meme-inspired cryptocurrency have caused its value to skyrocket. Now, some optimistic forecasters think Bonk could see gains of 300% or more in the future if momentum continues.

For cryptocurrency bulls, Bonk’s value explosion makes it a hot investment prospect right now. But how far can it go?

Bonk Price Action as Bulls Persist

Bonk (BONK) has seen incredible growth over the past two months due to its growing popularity and hype within the meme community. In early November 2023, Bonk was trading sideways around $0.0000023.

However, by mid-November, the price made a sudden spike up to $0.0000055.

This pump was likely triggered by the bullish sentiment within the broader market. This first rally saw Bonk gain over 139% in value in just a couple of weeks. After consolidating around $0.000006 for a brief period, Bonk underwent a second leg up, surging 100% and striking off one decimal place to $0.00001 within a week.

Notably, due to the massive bullish pressure, the price hit an all-time high of $0.000035 on December 15, with trading volume exploding to over $400 million. However, there has been a bit of bearish momentum that has pushed down the price to $0.000015.

In the past seven days, Bonk has been battling bearish pressure, and according to CoinMarketCap, it’s down by over 17% within this time frame. Fortunately, the coin has recorded a growth of nearly 280% in the last month, showing that the bulls are still active.

BONK Poised for Bullish Ride after Support Bounce–Technicals Suggest Run to New Highs

Bonk (BONK) bounced off a minor support level around $0.000012 on December 28 after the bears pushed it down from its recent highs above $0.000034. This recent move has seen BONK starting to regain ground.

Right now, the token trades around $0.000015 and appears to be heading back up bullishly toward previous highs. BONK’s relentlessness above the $0.000012 support shows bulls are actively defending their positions.

If buying momentum can continue, BONK could technically try to reclaim the past high of $0.00034 soon.

Based on the indicators, the recent pullback saw BONK dip slightly below the SMA line of the Bollinger Bands. However, with the current bounce back upwards, BONK is making a comeback to the SMA line.

This supports the argument for a resumption of bullish momentum.

The relative strength index (RSI) for BONK is currently around 51, in the neutral territory after having slipped during the recent bearish pressure. The RSI rebound aligns with the price bouncing back from oversold conditions. If bulls can maintain control, BONK could make another push upwards to retest $0.00003.

Bonk Token is Now Live for Trading on the Zeta Platform with Special Incentives

Merry BONKmas, manlets

$BONK Perpetuals are now live for trading on Zeta

Trade $BONK perps between now and the 31st of December and earn 2x Z-Score!

'Tis the Season of giving, after all…

pic.twitter.com/rTvkZANyQH

— Zeta Markets | v2 Live (@ZetaMarkets) December 28, 2023

A few hours ago, Bonk retweeted a post saying that its token is now live for trading on the Zeta platform. This means that users can now trade BONK perpetual on Zeta. Adding to the joy, they said, “Trade $BONK perps between now and December 31 and earn 2x Z-Score.”

This is an incentive for traders to engage with BONK on the Zeta platform. This is good for the Bonk. It shows exchanges are noticing the token. And it may attract others and more buyers, which will increase the demand for the token.

As Bonk is Getting Ready for New High, a New Contender Catches Investors Eyes

While BONK tokens continue to soar, this new project, Meme Kombat Investor, is also making waves. Meme Kombat presale has raised over $5.2 million so far, a big success attributed to its unique gaming features, which have attracted many crypto investors.

Meme Kombat combines staking and betting features, which taps into a specific market within crypto. This sets it apart and appeals to the growing community of crypto gamers.

MK tokens go for a lower price of $0.268 each, with the presale target to raise $6.5 million. The price will increase to $0.279 soon. Moreover, the project has raised over $5 million, meaning the presale will wind down soon.

This motivates early participation. Investors should seize the discounted rate opportunity right now.

Meme Kombat’s Features Hold Strong Potential for Future Growth

Meme Kombat holds promising potential as a valuable gaming-focused crypto asset. The platform’s unique features for gamers position it well. The gaming community has big potential for crypto adoption. Meme Kombat is also committed to transparency and decentralization.

These are key factors making it attractive. 10% of the total token supply is allocated to enable smooth decentralized exchange trading. This enhances accessibility and aligns with the project’s goal to democratize token trading.

Meme Kombat’s future looks promising as a top gaming crypto asset. To participate, visit the official presale website and buy the token now before its price goes up.

The post BONK Value Rally Over 20% in One Day: Can It Witness A 300% Price Rally? appeared first on The Tech Report.

Top Crypto Gainers on December 29 – BONK, SEI, And TRB

Nick Dunn — Sat, 30 Dec 2023 04:30:31 +0000

The global crypto market continues to post positive figures in December, with a total market cap of $1.8 trillion fast approaching. Bitcoin continues to lead the market revival despite a slight retracement in the past 24 hours.

However, BTC remains below the $45,000 price mark after rallying for weeks.

With a Bitcoin ETF approval underway, the strong performance of Bitcoin and altcoins could persist in 2024. Therefore, today’s top gainers ride on the general wave of positivity surrounding the crypto market as investors anticipate a bull run.

Let’s look at some of them, how high their values have gone, and the variables fueling their ascent.

Bonk (BONK) – The First Solana Dog Coin

BONK’s price at 6:41 a.m. EST on December 29 is $0.00001664, nearly a 25% increase in the past 24 hours. However, it has shed 14% of its gains in the last seven days, confirming sellers’ push in the market. According to a recent report, BONK’s DeFi volume is rising based on its utility.

NEWS: BONKbot’s success hints that there may be real tech behind the memehttps://t.co/2Lu4xLGUCS

— Blockworks (@Blockworks_) December 28, 2023

The rising interest in the BONK token is largely due to its utility and interest from crypto traders. Also, BONK is gaining more technological development with the recent release of a trading BOT that owned more than 70% of the trading volume created by DEX bots recently.

Remarkably, BONK is built on Solana and also benefits from its ongoing rally. It gained roughly 227% in the past month and is an activity-filled ecosystem. On the daily chart, BONK shows signs of further rally if the buyers persist.

BONK Testing The $0.000017 Resistance Level: Will It Surge Higher?

BONK has formed a second consecutive green candle on the four-hour chart as the buyers continue to accumulate after finding support at $0.000014, which has prevented further dips.

There’s stiff resistance at $0.000017, but the buyers are pressing on to overcome it.

The Relative Strength Index is in the neutral zone but approaching the overbought region, and a break above this level will resume the rally for BONK in the coming days.

Also, the Moving Average Convergence/Divergence is now above the signal line, showing a robust buy signal confirmed by the presence of green histogram bars. If this momentum continues, BONK will likely break above the $0.000017 resistance level in the coming days.

Sei (SEI) – The L1 Blockchain for Traders

SEI trades at $0.56 with a 14.8% 24-hour increase as of 6:43 a.m. EST. In the past seven days, SEI has gained 60.4% as buyers move into an aggressive phase.

Sei continues to record massive progress in its ecosystem, leading to a rally for the token in the past few weeks. One of the notable milestones is the $1 million marketplace volume recorded in NFT sales by Pallet Exchange.

Pallet $SEI NFTs

Pallet Exchange has crossed over $1million in marketplace volume!

This is a huge milestone for not only ourselves, but this vastly growing ecosystem.

We are still extremely early. NFTs on $SEI are just getting started. pic.twitter.com/gs3PudegdI

— Pallet Exchange | The Sei Marketplace (@Pallet_Exchange) December 27, 2023

This growth in NFT volume confirms the rising utility in the Sei ecosystem, leading to a surge in the value of its tokens. Although Sei is more popular in the Asian markets, it will likely record wider adoption in 2024 and beyond.

The Maribozu candle formed on the daily chart suggests that the buyers are determined to accumulate more SEI tokens.

SEI Forms Maribozu Candle On Daily Chart: Will The Rally Continue?

SEI has resumed its rally after encountering resistance on December 27. It formed a red candle as the buyers began to take profit before finding support at $0.44, a price pivot that facilitated the formation of a green candle on December 28.

Additionally, SEI has formed a rising wedge pattern, which also confirms the bullish dominance of the asset. The asset is now approaching the upper band of the Donchian Channel (DC), a bullish signal hinting at a further price increase.

Furthermore, SEI is in the overbought region with an RSI value of 75.81. The RSI is still rising, further confirming that the buyers are not relenting. Therefore, SEI will likely break above the $0.57 resistance level in the coming days and rally to $0.60 if the buyers persist.

Teller Tributes (TRB) – The Transparent Pathway For Smart Contracts and Data

TRB’s price at 6:45 a.m. EST on December 29 is $241.5, with an 18.4% increase in the past 24 hours. Also, it has gained 40.3% in the past seven days, confirming buyers’ control of TRB’s price.

The tellor community eagerly anticipates the launch of their L1 oracle chain in 2024.

Congratulations @WeAreTellor

Exciting news for #Tellor (#TRB) fans! Their L1 oracle chain is set to launch in 2024, promising faster data transmission and seamless data bridging to connect with any #blockchain.https://t.co/LgX2WexdqV

— CryptoBananaᵐᶠᵉʳ (@Crypto_bananaa) December 29, 2023

This chain will introduce faster data transmission and smooth data connection with any blockchain. These exciting developments are likely leading to price gains for TRB that exhibit a healthy rally on the daily chart.

TRB Bulls Break Above $217.09, What Next?

TRB has formed a higher high on the daily chart today, maintaining a positive price performance from December 21. Despite bearish pressure between December 22 and 27, it rallied above the $217.09 resistance level on December 28.

Also, TRB has formed a green candle today, with the upper wick testing the $237.93 resistance level. TRB trades above the Parabolic SAR, confirming that the buyers are still active and driving further price gains.

Furthermore, the RSI indicator confirms this bullish sentiment with a value of 87.45 and still rising. So, TRB will likely break above $237.93 and rally to $240 in the coming days. However, traders must watch out for a possible retracement if the RSI value drops.

Meme Kombat – Battle with Memes for Coin Reward

Meme Kombat ($MK) is boasting over $5.2 million in its fundraising campaign for the $MK token. This success can be attributed to several key factors that have fueled its rapid uptake and investor interest in the crypto landscape.

$5.1 million raised in the $MK presale is no joke

But we passed it with ease pic.twitter.com/GHvp2gSWnR

— Meme Kombat (@Meme_Kombat) December 29, 2023

Firstly, the project’s unique focus on catering to gaming enthusiasts has played a pivotal role. Combining staking and betting opens up a whole new world of possibilities for Meme Kombat users to tap into a niche market within the crypto space.

This targeted approach not only makes it unique but also allows it to enjoy the growing trend of crypto gaming. Tapping into this trend will allow Meme Kombat to attract game lovers outside and within the crypto arena, making the MK tokens more valuable due to higher demand.

As we have seen, the presale is already very successful, and MK has raised over $5 million of its target $6.5 million at a low price of $0.268, which will soon rise to $0.279.

This only shows the fundraising is about to wind down, leaving but a short window for those who want to get on board.

What Could Blow the Value of $MK?

Additionally, Meme Kombat won’t support shady business, so it puts things in place to ensure power is distributed equally among community members, what professionals call decentralization.

This will instill confidence in people, encourage transparency, and attract game lovers from all over the world.

To make it even better, 10% of the entire MK token supply has been set aside for liquidity, which will ensure smooth trading on crypto exchanges. You can stake your tokens to receive very attractive returns at the end of every year. It doesn’t end there; you can bet on games using your MK tokens and win amazing rewards.

After considering these features, one may conclude that Meme Kombat has all it takes to become the next revolutionary crypto project, which will afford early investors lucrative returns. So those willing to join to make haste before the presale ends.

Bitcoin Minetrix ($BTCMTX) – Decentralized Cloud Mining Hub for Bitcoin

Bitcoin Minetrix has emerged as another game-changing project, ready to make mining fun, easy, and profitable for everyone. With its innovative strategies, the common man can make it big in Bitcoin mining even if he can’t afford expensive hardware.

All you’d need to do is stake your Bitcoin Minetrix (BTCMTX) toke to receive mining rewards. How exciting can it get? This is one of its kind, never been seen in the Bitcoin mining arena, so many people are taking advantage of it. That’s why the Bitcoin Minetrix presale is almost sold out.

It has raised 6.6 million out of the $7.18 million target, meaning the presale will close anytime soon. This leaves interested parties with little chance to get on board unless they act fast.

The success of the Bitcoin Minetrix presale can be attributed to several key variables that have contributed to its surge and potential as a future asset.

Just 3 days remaining for #BitcoinMinetrix Stage 16!

How do you envision #Bitcoin's role in the future of global economies? pic.twitter.com/r4ZCxaEOVj

— Bitcoinminetrix (@bitcoinminetrix) December 29, 2023

Bitcoin Minetrix has just a simple goal: to make Bitcoin mining accessible to all and sundry. It will level the mining landscape such that anyone from all walks of life, not just heavy-pocketed investors, can participate and enjoy cool rewards. Awesome, right?

With the Bitcoin halving coming up next year, mining rewards for miners will be slashed, but that will probably make BTC scarce and send the price uphill. So, BTCMTX is bound to become a hotcake. What better time to buy into this initiative than now?

Thousands of investors are already securing their place, buying the BTCMTX token at the current low price of $0.0125. This price won’t be there forever. It will increase soon, so now is the time to hop on. Visit the project website for more information on buying the tokens.

Conclusion

As anticipation increases among investors, the last days of 2023 will likely be crucial to traders. While some traders could make decisions in the spur of the moment, proper risk management and research remain vital.

Also, if the Bitcoin ETF approval in early January yields the desired positive effect, then the bull run will likely begin. Nevertheless, the crypto market remains a volatile space where changes can occur.

On a positive note, some analysts believe the next bull run will likely push BTC and other cryptos to new ATH values.

The post Top Crypto Gainers on December 29 – BONK, SEI, And TRB appeared first on The Tech Report.

Bitcoin (BTC) Prepares for Massive Rally – What’s the Next Price Target?

Nick Dunn — Fri, 29 Dec 2023 06:30:11 +0000

Bitcoin’s ($BTC) price is still above $40k even as the trading volume is down today, December 28, by over 10%. As of 11:10 a.m. EST, bitcoin’s price has declined by over 1%.

While things are fairly stable in the financial world, it seems people are getting ready for a potential rise in BTC’s value.

This could be linked to the increased optimism among investors as they anticipate the SEC’s endorsement for a spot in the Bitcoin ETF in the U.S.

Things you should be paying attention to as a crypto investor…

why has the market been so bullish…RISK ON MARKET MOOD. yeah blah blah BTC HALVING and ETF… those of course BUT……

Market pricing in 88% chance of rate cut early march next year…

soo.. pay attention to…

— Cypress Demanincor (@CDemanincor) December 28, 2023

Moreover, Bitcoin halving is around the corner, which normally makes its value go up. On top of that, some people are thinking that the interest rate might reduce in March.

Michael Saylor Went on BTC Shopping Spree Again – Time to Buy?

While we await the ETF good news, Big players are bagging Bitcoin. Michael Saylor’s company has made yet again another big purchase of Bitcoin.

On December 27, Saylor shared through the X platform that his company, MicroStrategy, had bought an additional 14,620 BTC. That’s around $615.7 million at an average rate of $42,110 for each coin.

The CEO added that MicroStrategy now holds 189,150 $BTC as of December 26, 2023, acquired for 5.9 billion. The average price at which these bitcoins were obtained stands at $31,168 per coin. This move signifies MicroStrategy’s continued bullish stance on Bitcoin as a long-term investment.

It also contributes to the overall bullish demand for Bitcoin. Such large-scale institutional investments often have the potential to positively impact the price of BTC, as they signal growing institutional interest and investment in the digital asset.

Moreover, in another recent tweet, Saylor predicted that “BTC will be the standout asset of 2024.” Saylor thinks approving ETFs will boost Bitcoin demand, and the upcoming halving in April will limit its supply. So, companies like BlackRock filing for ETFs will want more BTC, but miners will have less to sell.

Bitcoin Price Analysis: BTC Bulls Poised for Further Gains

Bitcoin is trading along an upward-sloping bullish trendline right now. In context, trendlines act as support levels that can hold the price up, preventing excessive dips.

BTC’s Moving Average Convergence/Divergence also indicates a bullish outlook, with the red histogram bars fading away as sellers relent and bearish pressure slows down.

In addition, the RSI is 50, signaling neutral momentum, which confirms a returning bullish sentiment. From the above chart, Bitcoin seems to be heading toward a minor resistance around $44,200, and a break above this level will send a strong bullish signal to investors.

However, if the bulls can’t keep control for long, Bitcoin may drop back below the trendline. But luckily, there is another support area around $42,400 to catch the price if it falls.

Overall, the bullish trendline plus the bullish momentum indicators suggest there is a good chance Bitcoin will keep climbing higher.

The bulls just need to stay in charge to break the $44,200 resistance and get the uptrend going strongly again.

Bitcoin Alternative: Meme Kombat Could be the Next 10x Project to enter the market

There’s a really fun new crypto-powered game called Meme Kombat that’s getting very popular. This initiative uses blockchain and AI to make characters like Shiba Inu and Dogecoin battle each other.

To play Meme Kombat, you need to have a crypto wallet where you’ll store the MK coins that power the game.

You can use $MK coins to play, bet on fights, and earn rewards. You can even “stake” your $MK tokens to get a high interest rate paid to you each year. It’s a cool way to make money without doing anything.

Right now, Meme Kombat is doing a presale where you can buy $MK at the discounted price of $0.257 per coin.

But the price is going to go up soon to $0.268 per coin. So, if you want to get the best deal, buy $MK coins in the presale before the price increases.

Currently, the team has gathered more than 5 million in the sale of the MK tokens, which shows how much investors are interested in the project. Considering how things are going, $MK could jump in value later, just like other meme coins have done.

Meme Kombat Presale Gets Hot as Investor Flocks in Before It Comes Live

Meme Kombat is really making waves in the crypto space. Traders are buying the $MK token fast before the price increases. The presale is going fast due to its features and what the project team aims to achieve in the space.

The project’s gaming feature lets you stake, play, and earn nice rewards. The interesting part is that playing the game not only gives you a reward but also helps increase the token price since it will attract more people to use the token, increasing the demand rapidly.

Moreover, almost 6,000 people are staking MK tokens to get a high 192% annual percentage yield (APY). It’s a great choice for those who want to get the most benefits while being part of the gaming community through Meme Kombat.

To be part of this initiative, head to the project’s official site to buy the token.

The post Bitcoin (BTC) Prepares for Massive Rally – What’s the Next Price Target? appeared first on The Tech Report.

Top Crypto Gainers on 28 December – BSV, ARB, And LDO

Nick Dunn — Fri, 29 Dec 2023 05:58:54 +0000

Many cryptocurrencies have been enjoying a bullish push as investors and crypto enthusiasts gather tokens in anticipation of a potential bull coming next year. Among the coins basking in this bullish wave are Bitcoin SV, ARB, LDO, and Bitcoin Minetrix, which stand out for their sharp rise in price.

They’ve attracted both experienced investors and newcomers with their fast-growing market caps and innovative features. Let’s explore what’s driving their rapid ascent and how far the ongoing rally can take them.

Bitcoin SV ($BSV) – The Authentic Bitcoin Protocol

Bitcoin SV (BSV), a variant of Bitcoin Cash (BCH), has witnessed an incredible rise in value lately, shooting up by nearly 80% in the last seven days. This surge could be attributed to the ongoing positive momentum across the broader crypto market, but there may be more to it.

The demand for Bitcoin SV has been super strong over the past day, causing its trade volume to go up by a massive 615.98% in just 24 hours. That’s a lot of trading—over $612.40 million worth.

What’s interesting is that most of this demand is coming from South Korean traders.

Notably, a major South Korean crypto exchange, Upbit, handled trades worth a massive $513.81 million in the last 24 hours alone. That’s a big chunk—about 67.25% of all BSV trading volume.

It looks like South Korean investors are really interested in Bitcoin SV.

Also, recently, South Korea decided to set new rules for crypto to stop illegal activities. It is now a rule for government officials to report their crypto, making everything more regulated. Investors might like this because it feels safer when things are regulated.

As of 10:43 a.m. EST today, December 28, the price of Bitcoin SV is $86.46, a jump of 37.85%. The market cap also went up by 37.65% to $1.69 billion, as BSV reached $94, the highest point in 52 weeks.

It’s amazing to see how much BSV has gone up since it hit its lowest point of $23.30 in 2013. That’s an increase of more than 271%—pretty impressive! In just one month, the toke has gained over 120%.

BSV Forms Two Overgrown Green Candles – What’s Coming Next?

The green candle stick formation on the daily chart above shows the significant impact of trade activities in BSV’s market. Given the appearance of two tall green candles after a series of short red and green candles, it’s clear that a bullish sentiment is beaming.

Therefore, the potential upward movement for the coin is within reach.

Furthermore, since the pattern indicates increased buying pressure and market optimism, it could trigger potential price gains in the short term. Additionally, the Relative Strength Index (RSI) is 86.47 with an upward movement, which confirms the strong positive market momentum and price increase in the last two days.

As such, BSV now trades in the overbought region. The coin briefly conquered a resistance level at $90.7 to reach $94 before receding due to stiff bear pressure. Nevertheless, there is a possibility for another break out above the resistance at $90 in the coming days.

Arbitrum (ARB) Soars Higher Amid Bullish Wave

Lately, Arbitrum (ARB) has been on a bullish trend. Part of this surge hinges on the recent commendation by Ethereum co-founder Vitalik Buterin. Buterin says Arbitrum’s shift to stage 1 is a big step towards real decentralization.

As a stage 1 rollup, Arbitrum has fulfilled five requirements for full decentralization.

One of these is letting users leave without needing permission from operators. Following this positive comment, the price of ARB rose from $1.3 to $1.6 in less than 24 hours.

However, the coin has lost some of these gains as some people decide to take out a profit.

But from the chart, it seems that the downward pressure has cooled off. Maybe the bulls are sustaining the market. Meanwhile, over the past week, the coin has shown tremendous bullish strength. According to CoinMarketCap, it’s up by more than 30% within this timeframe.

As of 11:20 a.m. EST, ARB still retains a nearly 1% price gain. Though the 24-hour price change is not significant, it shows that the bulls are still active.

Arbitrum Bulls Dominate the Market – Is $2 Mark Still Possible this Year?

Considering the chart, ARB looks very bullish as its price has broken out above the Bollinger Bands. Also, Arbitrum’s RSI is above 60 at the moment, an observation that confirms the bullish momentum present in the market.

With the price bursting through the upper band plus a high RSI, the bulls are clearly in control right now, exerting strong buying pressure on Arbitrum. If bearish pressure returns and forces a dip, the middle Bollinger Band could act as support. But right now, bullish strength is dominant.

Overall, Arbitrum (ARB) is surging today and could reach $2 before the year ends if buyers keep entering the market. Of course, things can change quickly in crypto, but in the short term, indicators suggest Arbitrum’s bull run should continue.

Lido DAO ($LDO) – Staking Infrastructure Provider for Numerous Blockchains

LIDO’s price trends hint at a bullish comeback, signaling promising potential for an upward trend. Finding solid support around the $2.00 mark, it rebounded sharply, which showcases strong interest from buyers at lower levels.

In a recent surge, the price of Lido DAO soared by 16%, finally breaching the challenging barrier at $2.50. This breakthrough not only boosted positive market sentiment but also fueled a significant uptick in momentum.

What’s interesting is the surge in trading volume paralleling the price movement, suggesting involvement from key players in the crypto space.

This surge may indicate their anticipation of extended gains. Over the past couple of months, LDO has been in a consolidation phase, oscillating between $2.000 and $2.500, establishing a solid base.

However, the recent breakout beyond this range has attracted fresh interest, drawing in new participants and giving the price a considerable boost.

The breakout seems robust and sustainable, hinting at the potential for further upward strides. Currently trading at $2.92 as of 11:15 a.m. EST, LDO is up by 6.24% in the past 24 hours.

Given this progress, Lido DAO (LDO) makes it to this top gainers list. Nevertheless, its daily chart analysis will determine whether the increase will prevail or not.

LDO Forms Consecutive Green Candles – Can It Break Above $3?

The notable surge in LDO price is reflected in the formation of the green candle, indicating increased buying pressure in the market today. Also, the coin’s Relative Strength Index (RSI) moving upward to 68.07 confirms the surge in buying activities.

If the rally continues, LDO’s RSI could reach 70, trailing within the overbought zone (above 70). This means more price gains for the asset as a result. Additionally, LDO is above the 50-day and 200-day Simple Moving Average (SMA), and as more trades occur, there is a possibility for significant rallies.

From the chart above, there’s a potential resistance at $3, which could limit ascent and trigger short-period dips. However, considering the ongoing bullish trend, the coin’s rally could break out from the resistance level.

While this is more likely to occur, traders and investors should remain cautious of sudden fluctuations in the crypto market.

Bitcoin Minetrix ($BTCMTX) – Eco-friendly BTC Mining Platform

Amidst the surge in the cryptocurrency market, a rising star tagged Bitcoin Minetrix has emerged. This groundbreaking project, currently in its presale phase, has seen an unprecedented level of interest, raising substantial funds, amounting to over $6.5 million and still counting.

In celebration of achieving the 5M raise milestone, we're hosting a competition!

Create your most unique #BTCMTX Christmas Graphic/Image or Video.

Tweet, tag us, and include #BTCMTXCOMP in your entry.

The top 3 submissions stand a chance to win a cash prize. pic.twitter.com/1nhsatlXUB

— Bitcoinminetrix (@bitcoinminetrix) December 8, 2023

Bitcoin Minetrix has managed to exceed the expectations of many, and this staggering achievement only shows how confident and interested investors are in the project.

Variables Behind Bitcoin Minetrix’s Surge

Several things make Bitcoin Minetrix unique from other projects, and that could make it a formidable asset in the crypto landscape. Firstly, it allows people to stake BTCMTX tokens to enjoy mining rewards, a game-changing approach in the Bitcoin mining arena.

That’s because it paves the way for all and sundry to participate in BTC mining without needing to buy expensive hardware. If the words get out, more people could join Bitcoin Minetrix, which could lead to high demand and a price surge.

By providing a transparent and decentralized ecosystem of miners, Bitcoin Minetrix makes sure power doesn’t end up in the hands of few, and most importantly, it ramps up security.

Moreover, Bitcoin Minetrix supports environmental sustainability since it tries to put away the need for mining hardware that requires high energy and leaves a carbon footprint.

The presale has recorded great success, and if this continues, more people will want to join Bitcoin Minetrix, driving the token price up. For now, one BTCMTX token goes for $0.0125, and the price will increase soon.

So, now is the best time to buy BTCMTX tokens at subsidized rates.

Conclusion

Some of the best-performing cryptocurrencies are rising because of the overall growth of the market and recent updates in their ecosystems. Meanwhile, new tokens under presale, like Bitcoin Minetrix, are catching people’s attention worldwide.

Even though it’s still in presale, it seems to have a good future in the market. Considering these assets for investment could be a good idea, but it’s important for traders and investors to do their homework and plan how to handle risks before making any choices.

The post Top Crypto Gainers on 28 December – BSV, ARB, And LDO appeared first on The Tech Report.

Polygon (MATIC) Soars Past $1 with Strong Breakout; Will it See $2?

Nick Dunn — Thu, 28 Dec 2023 05:59:51 +0000

Polygon (MATIC) is performing really well today, with its price exceeding the $1 mark, a level that has resisted further ascent in the past weeks. Notably, this growth started on December 26, when MATIC broke above the $0.87 resistance.

This breakout fueled the community’s optimism and attracted more buyers who started accumulating the coins. With the momentum still very high, people are speculating that the coin’s price will go higher, even reaching $2.

Let’s review the possibilities.

Expert’s View Support the Bullish Sentiment

Recently, a popular crypto analyst, Ali Martinez, shared an optimistic view on Polygon (MATIC). According to the analyst, MATIC is on its way to breaking out from a symmetrical triangle, which is a good sign for the coin.

A sustained weekly candlestick close above $0.96 could propel $MATIC towards $1.73,

Martinez added;

#Polygon is on the verge of a breakout from a symmetrical triangle. A sustained weekly candlestick close above $0.96 could propel $MATIC towards $1.73! pic.twitter.com/IZQHpSuqO6

— Ali (@ali_charts) December 26, 2023

Martinez’s analysis implies that if MATIC crosses specific levels, as pointed out in the above chart, there might be more upward moves closer to $2. He highlighted some “on-chain reasons” for making such assumptions.

According to him, one sure indicator of the potential upswing is the notable surge in whale activity on the MATIC network.

There are onchain reasons https://t.co/tL3caS30b2

— Ali (@ali_charts) December 27, 2023

The whales might have returned to gather more tokens, and such significant moves usually signal impending upswings or downturns, according to Martinez. If the whales are buying, the asset’s price tends to pump.

Therefore, as Martinez has concluded, “we could be on the brink of a major MATIC price move.”Moreover, analytics platform Santiment revealed that these whale wallets have once again started displaying bullish behavior.

Source: Santiment

Santiment showed that the balance of wallets holding between 1 million and 10 million tokens has increased since December 16. These whales now own an extra 55 million MATIC tokens, which is equivalent to more than $44.5 million.

Altogether, these accounts now control a total of 930.97 million MATIC coins. So, while the price of MATIC was going down, these folks were busy gathering more coins.

MATIC Broke Out from Strong Trendline; What’s Next?

The price of MATIC has been on a bit of a roller-coaster movement since the start of December. From the chart below, MATIC started the month trading at $0.77, but surprisingly, the price rose by more than 20% and touched $0.93.

Unfortunately, the price plummeted back to $0.73 as more people started selling off their holdings, possibly for profit.

MATIC is currently trading above its 200-day and 50-day SMA, indicating a strong buying pressure is acting on the price. According to CoinMarketCap, at 7:00 a.m. EST, MATIC traded at $1.05, a more than 18% 24-hour increase.

Further, the coin just broke out above a long-standing resistance of around $0.9. Interestingly, this resistance level will probably flip to become support against further slip-offs, empowering the bulls to push higher. The RSI reading is above 70 right now, meaning the bulls are still very active.

With this kind of upward momentum, the bulls stand a good chance to keep running the price up. However, caution is advised as crypto is volatile and can always crash back down. But for now, the outlook seems promising, and we will see some nice gains if buyers keep the pressure on.

Polygon (MATIC) Best Alternative: Bitcoin Minetrix