The crypto market is recovering on September 13, recording slight gains with a total market cap of $1.08 trillion. Interesting events in the crypto space will likely impact prices today.
Notably, Bloomberg reports that multinational investment firm Franklin Templeton has joined the race to offer a Spot Bitcoin ETF. If this ETF is approved, BTC will likely rally in the last quarter of the year, influencing the crypto market positively.
Furthermore, Yahoo! Finance reports that Bitcoin and other cryptocurrencies show price volatility in the last 24 hours ahead of the release of the U.S. inflation data. However, BTC has reclaimed the $26,000 price level, showing a slight improvement.
Despite the possible retracement ahead, some cryptocurrencies still record impressive gains due to positive investor sentiments and developments within their ecosystem.
Compound (COMP) – The DeFi Finance Platform for Ethereum Holders
COMP’s price on September 13, at 9:51 am EST, is $40, with an 11.8% increase in the past 24 hours. It also recorded modest price gains of 2.0% in the last seven days, confirming a gradual return of buyers.
COMP’s rally could result from the USDC market on Arbitrum going live on the Compound ecosystem.
The native USDC market on @arbitrum is live on Compound.
Users can transfer native USDC from the Arbitrum market to different chains via @circle Cross-Chain Transfer Protocol (CCTP), without needing to bridge back to Ethereum.
View the new market:https://t.co/9yObhMLsMP
— Compound Labs (@compoundfinance) September 6, 2023
This process eliminates unnecessary gas fees on the network and is likely driving more investors to the ecosystem, leading to a surge in COMP’s price.
As a result of the latest development, COMP is in an uptrend on the daily chart and is attempting to overcome its nearest resistance level as the buyers continue to uphold its price.
COMP Testing $40.7 Resistance Level
COMP is in an uptrend today after its decline between August 30 and September 11. It has formed a second consecutive green candle, confirming buyers’ pressure on its price.
Also, it found support at $35.5 and is testing the $40.7 resistance level. A break above this level will confirm the asset’s recovery. However, COMP is still trading below the 50-day and 200-day Simple Moving Averages (SMA), confirming the presence of sellers in the market.
The Relative Strength Index (RSI) confirms the bullish sentiment, rising from the neutral zone at 42.7 as it approaches the overbought region of 70. If the RSI moves above 50, it confirms that the uptrend will continue, and the buyers will likely flip resistance to support.
Also, the Moving Average Convergence/Divergence shows buyers are still accumulating COMP tokens, with the green Histogram bars confirming the positive outlook. If the buyers remain steady, COMP will likely return to the $41-42 price range in the coming days.
Toncoin (TON) – The Open Network
TON’s price at 9:38 a.m. EST on September 13 is $1.91, indicating a 9.4% increase in the last 24 hours. Also, it is up 9.7% in the last seven days, confirming buyers’ dominance.
The big news in the Toncoin ecosystem is the integration of TON on the global messaging platform Telegram, causing TON’s price to spike over the past week.
Messaging app Telegram has integrated TON network as its blockchain network of choice for Web3 infrastructure, boosting the TON token price by 7% https://t.co/ikb6JFEyWl
— Cointelegraph (@Cointelegraph) September 13, 2023
After almost three years, Telegram unveiled a crypto wallet and began to pursue Web 3 development in its ecosystem. The wallet presentation occurred during the ongoing Token 2049 crypto event in Singapore.
This wallet is developed on The Open Network (TON) blockchain, exposing TON to over 800 million users of Telegram. The Ton Foundation also stated that projects built on the TON blockchain will have priority access to Telegram’s advertising.
Consequently, today, September 13, the Ton Foundation noted that the Telegram wallet is experiencing some server issues as numerous users continue to sign up to the wallet every second.
Looks like our announcement created quite the storm! @wallet_tg is currently experiencing some server issues and is down with 1000s of people onboarding to the Wallet every second 🚀
— TON 💎 (@ton_blockchain) September 13, 2023
They implored users to pause claims on the app, stating that users will be notified when the wallet is back online. TON’s gains are evident on the daily chart, with the large green candles formed, showing that the buyers are in control.
Donchian Channel Confirms Bullish Trend
TON has flipped the $1.8 resistance into support after pivoting off the $1.6 support zone to move into an uptrend. The upper wick of its candle today has broken above the $1.9 resistance level, confirming the surge in pressure from the buyers as they dominate the market.
Also, TON’s rise has forced the upper band of the Donchian Channel to expand, a sign of bullish control. The RSI is at 65.83, close to the overbought zone of 70, and it will likely close the gap in the next few days.
Although the MACD is still below its signal line, it is rising to cross over, and the fading Histogram bars also confirm more price gains ahead. TON will likely retain its gains in the coming days till it enters the overbought zone and the buyers begin to make a profit.
IOTA (MIOTA) – The Distributed Ledger For Transactions
MIOTA’s price at 9:40 am EST on September 13 is $0.16. This is a 2.8% increase in the past 24 hours, suggesting that the buyers are re-entering the market.
MIOTA retraced slightly in the last seven days, and its gains today could signal the beginning of an uptrend for the asset.
The big news in the IOTA ecosystem is its Mainnet upgrade to replace its Coordinator with a validator committee. This development is a step towards achieving decentralization and enhancing network uptime on IOTA.
IOTA Mainnet Upgrade! With the upcoming #Stardust upgrade on #IOTA, the coordinator will be replaced by a Validator Committee. The committee was rigorously tested on @shimmernet & will be deployed on the mainnet as an interim improvement until #Coordicide. https://t.co/B5HQJBdOMw pic.twitter.com/AYW3tq1OGX
— IOTA (@iota) September 12, 2023
According to the blog post, the IOTA Mainnet Coordinator is a decentralized permissionless Validator Committee comprising several trusted validators in different locations.
IOTA listed the upgrade’s benefits, including resistance to censorship since no single entity confirms the validity of transactions. This upgrade will likely improve the network and drive the gains noticed in MIOTA tokens today.
MIOTA has formed a large green candle on the daily chart as buyers rush in to accumulate the tokens due to the Mainnet upgrade with the optimism of a price surge ahead.
MIOTA’s Rally Likely For The Short-Term
MIOTA has formed a bullish engulfing pattern on the daily chart after the downtrend of the last few days. However, the Parabolic SAR indicator is still above the candles, a sign that the sellers are still active
Also, the RSI is rising slightly but still in the neutral zone with a value of 52.7. If the RSI indicator rises, traders can open long positions as the market can retrace in the next few days.
Despite the gains noticed today, the MACD shows signs of a bull trap ahead, dropping to touch its signal line, showing a potential price decline ahead.
The fading green Histogram bars confirm that traders are still shorting their tokens, likely leading to a decline in MIOTA’s price in the coming days.
While investors consider the crypto market volatility in the last 24 hours, Bitcoin BSC and Wall Street Meme presales might serve as good avenues to diversify their crypto investments.
Bitcoin BSC (BTCBSC) – The Smart Investors’ Choice
Bitcoin BSC is an eco-friendly BEP-20 cryptocurrency built on the BNB smart chain. It aims to give users BTCBSC tokens at $0.99 per token. BTCBSC presales are ongoing and continue to attract more investors interested in its future potential.
Unsure about #Token claiming? Here’s a quick guide:
Token claiming and listing will likely be on the same day and time.
— Bitcoinbsc (@Bitcoinbsctoken) September 13, 2023
The presales have raised over $1.57 million from the soft cap target of $4 million. The next presale stage will aim to achieve the hard cap target of $6.125 million.
Users can purchase at least $10 of BTCBSC at $0.99 each once they connect a secure crypto wallet to the presale page. Also, ETH, BNB, and USDT are available crypto options for users to complete this purchase.
Staking Driving The Ecosystem
The Big Attraction to the Bitcoin BSC ecosystem is token staking for rewards. Users can stake their BTCBSC tokens immediately after purchase for additional rewards.
Remarkably, 69% of the total token supply is set aside as staking rewards to be distributed over 120 years, driving scarcity and boosting market value.
Users earn rewards based on the percentage of their tokens committed to the staking pools. Today, September 13, there are approximately 743,000 tokens staked at an APY of 353%.
This staking feature serves as a passive income channel for BTCBSC holders.
Also, BTCBSC has an ongoing referral program where users can earn 5% on any purchase made by friends using their links. The referral rewards will likely attract more users to the ecosystem based on additional rewards.
Only a click away from the $BTCBSC Referral Program!🚀
Invite your friends and earn 5% of each purchase made through your exclusive link.
Simply link your wallet, grab your referral link, begin spreading the word and savor the rewards!💰🌐
— Bitcoinbsc (@Bitcoinbsctoken) September 13, 2023
The presale success shows the rising interest among investors to accumulate these tokens ahead of a potential price surge. It will likely sell out in the next few weeks as more investors take advantage of the affordable price.
However, note that the project has no affiliations to Bitcoin or its developers. Rather, it relies on the BNB Smart Chain network, benefitting from its security and low transaction cost.
Wall Street Memes (WSM) – The Largest Memecoin Revolution In 2023
Wall Street Memes is a trending memecoin project determined to reward retail traders and give them an edge in the crypto market.
I was losing money fast due to bad advice but now I’ve bought a second monitor I’m losing money twice as fast pic.twitter.com/MFR30xkPcs
— Wall Street Memes (@wallstmemes) September 12, 2023
Users can access unlimited memes to interact and promote the fun spirit of the WSM community while profiting from the tokens.
WSM Presales Advancing, Less Than Two Weeks Left!
WSM is on presales with just 13 days left till the presales conclude ahead of its listing on Tier-1 exchanges. Over $25 million has been raised as investors enter a late accumulation phase for the token ahead of its eventual launch.
Each WSM token is worth $0.337 at this stage, and based on its viral acceptance in the crypto community, a minimum price target of $1 looks realistic after its listing, rewarding early investors.
After connecting a secure and supported wallet to the ongoing presale page, users can buy WSM tokens with any ETH, USDT, or BNB. Also, direct purchase with bank cards is supported.
Tokenomics And Staking
WSM has its maximum supply capped at 2 billion. According to its tokenomics, 50% of the supply is dedicated to marketing, 30% to community rewards, 10% to CEX liquidity, and 10% to DEX liquidity.
WSM supports a buy-and-stake feature to reward users and control inflation within its ecosystem. Users can stake their tokens in the WSM staking pool to earn rewards. These rewards are calculated based on the user’s stake in the pool.
On September 13, over 319 million tokens were staked at an APY of 63%, better than the industry average of 5-10%. The staking feature also preserves the long-term value of WSM tokens and prevents investors from dumping tokens after listing.
Wall St Bulls NFTs Gaining Relevance.
Wall St Bulls is the NFT collection of the Wall Street Memes project with over 10,000 unique NFTs hosted on the Ethereum blockchain.
The Wall St Bulls NFTs grant its holders membership in the upcoming Options Market. Also, Wall St Bulls NFT holders give users access to other WSM free NFT collections such as Wall Street Interns and Wall Street Assets.
With over 3,000 owners and a total volume of 1,875 ETH, the NFT collection drives interest from the crypto community for the project.
Crypto Analyst Joe Parys Crypto, in a YouTube video, refers to WSM as the next 100x memecoin. Investors must act fast to take advantage of the presales before its conclusion.
WSM Exciting Roadmap
WSM has an exciting roadmap to reward its users. The first phase covers smart contract development, community building, branding, marketing, and merchandise. The second phase covers the token launch, partnerships, token listings, exchange listings, and awareness campaigns.
The third phase will unlock the WSM gated community, where users can access exclusive updates and interactive experiences. Finally, WSM will target a market cap goal of $1 billion, bringing massive rewards to its early investors.
The crypto market has had a more positive outlook in the last 24 hours, reflecting on the prices of some cryptocurrencies. Also, crypto development emphasizing Web3 is gaining popularity and is the driving force behind most thriving ecosystems.
Developers and builders seek platforms that enable their projects and offer them grants. Also, in the DeFi sector, smooth financial services often promote adoption based on utility.
Interestingly, some presale tokens offer investors a chance to join early before a price surge and become stakeholders. However, crypto investments carry significant risks. Therefore, research and risk management are vital tools for traders.