The crypto market has a positive outlook today, October 23, with a 2.5% increase in its total market cap value of $1.2 trillion. Remarkably, Bitcoin closed above $30,000 on October 22 and continues to consolidate on its gains in the last 24 hours.
BTC’s resurgence is likely contributing to the bullish momentum in the crypto market due to its dominance, which is now close to 50. Although some of the gains are based on wild price speculation, the crypto market will likely retain its bullish momentum in the coming weeks.
Therefore, it’s safe to assume that today’s top gainers benefit from the more positive market outlook and developments within their ecosystem. Let’s consider a few of the top gainers below.
Fantom (FTM) – The Scalable Blockchain Ecosystem
FTM’s price on October 23, at 9:05 a.m. EST, is $0.23, with an 11.4% increase in the last 24 hours. Additionally, FTM has gained 17.5% in the last seven days, confirming a rising interest from the buyers for the asset.
One of the factors likely aiding FTM’s price gains is the newly introduced Quadratic voting for users. This update sparked significant interest in the Fantom ecosystem following the announcement on October 18.
NEW CASE STUDY: Quadratic Voting Revolutionizes Funding in Fantom’s Ecosystem with Gitcoin’s Grants Stack! 🔥
— Gitcoin Grants Stack (@grantsstack) October 18, 2023
In addition, Fantom introduced updates on its Ecosystem vault to promote seamless and decentralized funding. It aims to study the real-world impact of 750,000 FTM tokens distributed across nine projects. This distribution of FTM tokens will likely attract more users to the ecosystem.
FTM Breaking Above The $0.22 Resistance Level as Buyers Uphold Rally
FTM shows massive gains on the daily chart, rallying in the last six days to record higher highs.
FTM is in an uptrend on the daily chart, forming its fifth consecutive green candle as the buyers continue to rally. It broke above the $0.21 resistance level, flipping it to support, and it is presently testing the $0.22 resistance level.
Notably, a break above this level will confirm that the buyers are still in an active accumulation phase. Moreover, the Relative Strength Index (RSI) indicator is rising with a value of 73.8 to the overbought region above 70, confirming the high buy pressure in the FTM market.
The present trend suggests FTM will likely close above the $0.22 resistance level in the coming days to record higher highs if the bulls continue to rally.
Aave (AAVE) – The Decentralized Crypto Lending Platform
On October 23, at 9:09 a.m. EST, AAVE’s price was $83.8, with a 10.7% increase in the last 24 hours. Also, AAVE has recorded a 29.0% seven-day increase, benefiting from the more positive outlook of the crypto market.
One likely factor fueling today’s rally is AAVE’s recent collaboration with Immuefi to host a 1-million bug bounty. This bounty hunt has attracted significant attention in the AAVE ecosystem since it allows users to earn money. However, users who participate in this quest may need KYC verification to claim rewards.
New ONE MILLION DOLLAR bug bounty with AAVE! 🙌🔥@AaveAave is a decentralized non-custodial liquidity protocol where users can participate as suppliers or borrowers in a common pool.
Find bugs – get $1,000,000!https://t.co/u5q6D1uQLJ
— Immunefi (@immunefi) October 18, 2023
The bug contest will focus on intelligent contract impact to improve the Aave ecosystem.
AAVE Buyers Continue to Accumulate Tokens as Impressive Rally Continues
AAVE continues to rally on the daily chart as the buyers sustain the uptrend that began on October 19. Impressively, it broke above the $74.6 resistance level on October 22 and is approaching the $83.01 resistance level.
The daily chart shows AAVE is approaching the Donchian Channel (DC) upper band, confirming that the buyers are dominant in the market.
Furthermore, the RSI is 77.4 in the overbought zone, indicating a high buy pressure and further price increases for the asset. AAVE will likely continue its rally in the coming days until the buyers begin to take profit and retreat for consolidation.
Chainlink (LINK) – The Decentralized Oracle Network
LINK’s price on October 23, at 9:13 a.m. EST, is $10.02, with an 8.0% increase in the past 24 hours. It has gained 32.2% on its price in the past 24 hours. These gains could result from the upcoming Chainlink Hackathon announced on October 20.
🌌 Registrations are now live for Constellation: A Chainlink Hackathon 🌌
🥇 Over $350K in prizes
👩💻 Meet new friends & developers
🏆 Cross-chain, DeFi, gaming, & other prizes
👨🏫 Workshops from top devs across Web3
Sign up today to save your spot:
— Chainlink (@chainlink) October 20, 2023
On October 20, Chainlink developers announced a hackathon with over $350,000 worth of prizes. This will allow users to meet new friends and developers and participate in workshops.
Additionally, Pop Social is joining Chainlink BUILD to access its quality Oracle services and technical support. Pop Social will release 3% of its native token’s total supply to Chainlink service providers, including stakers.
According to Pop Social, they aim to empower creators and accelerate the adoption of Web3-based social media applications. This adoption of BUILD technology benefits the Chainlink ecosystem and will give users of Pop Social more exciting benefits.
Also, the rewards are given according to the level and severity of the threat discovered. Remarkably, LINK shows a positive price pattern on the daily chart with a slight retracement today.
LINK Faces Resistance at $10.2 as Buyers Begin to Take Profit
Amid ongoing developments, LINK rallied on the daily chart, forming three consecutive green candles with higher highs before a slight retracement today.
LINK has broken above the $8.2 resistance level, flipping it to support. The buyers re-entered the market after forming a golden cross on October 15 to force a price recovery.
The token is trading above the 50-day and 200-day Simple Moving Averages, confirming a bullish sentiment in the market. Also, its RSI is 77.8, in the overbought region but retracing and will likely drop into the channel soon. The RSI’s retracement is likely because LINK buyers are beginning to take Profit at the $10.2 resistance level.
Although the upper wick of today’s candle has broken above the $10.2 resistance, LINK will likely remain below till the buyers rally again. Therefore, a slight price decrease could likely occur in the coming days before the uptrend continues.
Bitcoin Minetrix (BTCMTX) – The Secure Cloud Mining Provider
Bitcoin Minetrix is an innovative platform that offers users cloud mining services. Its cloud mining is decentralized, affordable, and secure. It is fully audited and provides users with reliable mining solutions.
Announcement! 📢#BitcoinMinetrix has achieved a monumental milestone, surpassing $2,000,000 raised!
We are now also less than 40 minutes away from the start of Stage 3! 🪙 pic.twitter.com/iZENKYsxcd
— Bitcoinminetrix (@bitcoinminetrix) October 23, 2023
Bitcoin Minetrix seeks to provide investors with secure solutions, safeguarding them from third-party crypto scams. Its decentralized approach to cloud mining will likely attract more investors to its ecosystem.
It allows users to control their tokens completely, eliminating the risk of losses observed on some cloud mining sites. Bitcoin Minetrix hopes to demystify the cloud mining process and lower the entry threshold for inexperienced miners.
With the Bitcoin Minetrix cloud mining solution, users can quickly get technical knowledge and access to expensive mining hardware. Instead, they rely on the advanced computational power from the platform accessible with BTCMTX tokens.
Further, based on the Bitcoin Minetrix whitepaper, users can stake their BTCMTX tokens to earn credits relevant to Bitcoin mining. Moreover, a recent report shows the Bitcoin hash rate spiked and will likely rise in the last few weeks of 2023. Its computational power has also increased to 445 EH/s, up from 255 EH/s in January.
Consequently, analysts forecast a further increase in Bitcoin’s hash power by 2025. This belief relies on market statistics and ecosystem developments. Therefore, Bitcoin mining will likely retain its relevance despite the rising difficulty. But this could make cloud mining projects like Bitcoin Minetrix more attractive.
BTCMTX Presale Crosses $2 Million Milestone Confirming Investor’s Interest
Cloud miners on Bitcoin Minetrix need to purchase BTCMTX in exchange for mining credits. The token is on presale with over $2.11 million raised of the $3.10 million hard cap, suggesting the presale is a few inches from ending.
Each BTCMTX token is worth $0.0112, with four days left before the price increases. Also, investors can purchase these tokens with BNB, ETH, USDT, or bank cards by connecting to Bitcoin Minetrix’s official website.
Remarkably, Bitcoin Minetrix is hosting a $30,000 Minedrop (airdrop) event to give early investors additional rewards. Ten winners will be selected randomly and receive $3000 BTCMTX tokens each for their participation. However, the winners must complete specific tasks to qualify for this airdrop, which includes purchasing these tokens.
Also, Bitcoin Minetrix offers users a staking system for passive income and a hedge against inflation. So, it allows users to stake their BTCMTX tokens to receive mining credits as staking rewards. Users can burn the mining credits in exchange for mining time.
Meme Kombat (MK) – The Gaming and Staking Revolution
Meme Kombat is a meme-inspired ecosystem where users use several battle modes to earn rewards. Remarkably, Meme Kombat relies on the Ethereum network, offering users secure staking features built on a solid framework.
Through thick and thin, Meme Kombat will be a constant in your life💪 pic.twitter.com/HhXhVG2r0B
— Meme Kombat (@Meme_Kombat) October 23, 2023
Also, Meme Kombat has attracted interest from the crypto community, with gamers and investors signing up for the platform. If a user purchases $MK tokens, it grants them full access to the extensive benefits of the Meme Kombat platform. Also, staking and betting allow users to earn extra income.
Join the Presales for Exciting Rewards
$MK’s presale is still on, with 60 million tokens committed to the presale out of the total supply of 120 million tokens. Given the massive investor interest, the presale has raised over $650,000 out of its goal of $1 million and could sell out soon.
Also, investors can use the affordable presale price to purchase the token ahead of its listing on top exchanges. MK token trades at $0.1667 and supports crypto payment options with ETH or USDT from a crypto wallet such as Meta Mask. Users can also purchase the MK tokens via the BSC blockchain.
Meme Kombat Staking Preserves Long-Term Value
Meme Kombat is an ecosystem with a unique staking model. During the presales, all tokens purchased are automatically locked in staking contracts. Notably, when the presales conclude, the staking rewards are distributed based on the number of tokens a user purchased and the APY.
Furthermore, users can re-stake their tokens after the presale to contribute to ecosystem value. These rewards accumulate during the presale period. MK staking is easy and flexible, enabling users to bet on battles using some staked tokens.
Also, 30% of MK’s total supply will serve as staking and battle rewards, confirming the commitment to rewarding investors. The minimum allowed period for staking after the presale is 14 days, and partial withdrawals are not supported. Users who wish to un-stake their tokens must withdraw all.
Battle Mode and Betting Give Investors Additional Value
Meme Kombat betting is one of its top features that sets it apart from other meme coins with no utility. With the rise of crypto gambling, Meme Kombat offers users exciting gameplay modes with commensurate rewards.
So, players can bet on several game modes, compete against one another, and enjoy the high-quality graphics available. Furthermore, Meme Kombat users can choose from several gameplay modes based on their preferences.
These modes include Player vs. Player (PvP) Side betting and direct betting modes. These modes allow users to compete against each other or the platform’s AI. Also, they can bet on in-game details, such as which character will make the first move.
Meme Kombat AI technology allows the platform to execute high-resolution real-time gaming. Also, it ensures that games are unpredictable, adding thrill and fun for players. This creates equal opportunities for all gamers, adding equity and fair gameplay to the ecosystem.
Also, interactive and colorful memes make fun and interact in the ecosystem with a growing social media army. Based on Meme Kombat’s utility, it will likely enjoy the success of meme coins like $PEPE and $SPONGE driven by unwavering support from its growing community.
The crypto market’s remarkable recovery is primarily a result of Bitcoin’s break above the $30,000 resistance level. Additionally, the top gainers today also benefit from ecosystem developments.
Consequently, the altcoins record impressive gains in the 24-hour timeframe. The late rally in 2023 might support some popular theories of an upcoming bull run in 2024. Nevertheless, cryptocurrencies are always prone to volatility and could shed their gains suddenly.
Therefore, all traders should combine risk management with appropriate research to prevent severe losses. Also, presale tokens allow investors to join a project before a price increase after debuting on exchanges.
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