The global crypto market remains upbeat this week as most cryptocurrencies continue to rally. Also, Bitcoin has found support at $34,000, with its market cap rising to $670 billion and its dominance above 50.
The speculation surrounding a possible ETF approval is driving the crypto market rally, leading to a rally among meme coins.
Remarkably, the crypto Fear and Greed Index displays a value of 68 and is leaning toward greed. This implies that traders are in an ongoing accumulation phase in the market for the last quarter of 2023. The top gainers for October 30 are listed below.
Axie Infinity (AXS) – The Leading NFT Ecosystem
AXS’s price on October 30, at 6:46 a.m. EST is $5.81. This price represents a 16.3% increase in the last 24 hours. Also, AXS has gained 31.3% in its price in the past week as more buyers adopt the gaming tokens.
One of the factors possibly driving AXS’s price gains is the ongoing Axie Game Jam voting event. Axie Game Jam encouraged game developers to submit new games for assessment and to win rewards.
The Axie Game Jam Voting Phase has begun!
Playtest and vote for your favorite games on Mavis Hub now. 👇
This final phase of the Game Jam will run from October 29, 3 PM PH to November 5, 3 PM PH.
— Axie Infinity (@AxieInfinity) October 29, 2023
The voting commenced on October 29 and will end on November 2. Also, users will be apply to playtest games from the Axie Game Jam on Mavis Hub.
According to the developers, community feedback through voting is vital for choosing the final winners. Also, during the voting phase, game developers can no longer edit their submissions since voting is ongoing.
The winning games will be selected based on criteria such as game design, gameplay, and innovation. Notably, there are $20,500 worth of prizes to be shared among five winners.
This event is likely causing a frenzy in the Axie Infinity community, leading to a rally on the daily chart for the token.
AXS Approaching $5.98 Resistance Level, Will It Break Above?
AXS is in an uptrend on the daily timeframe, forming a third consecutive green candle as the buyers continue the accumulation. Notably, AXS found support at $4.68, preventing a decline for the asset on October 27. Also, the upper wick of today’s candle is testing the $5.77 resistance level.
Furthermore, the Relative Strength Index (RSI) indicator is in the overbought zone displaying a value of 80.8 and still rising as the buyers aim for higher price levels.
Additionally, the Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a strong buy signal.
This signal is confirmed by the green Histogram bars suggesting that late buyers can still open new long positions. AXS will likely break above the $5.77 resistance level in the coming days before a possible retracement for consolidation.
GALA (GALA) – The Gaming Platform for Crypto Users
GALA’s price today, October 30, is $0.021, with a 14.7% price surge in the last 24 hours. However, its weekly gains are more impressive at 48.6%, confirming that the buyers are dominant in the market.
One of the factors likely driving GALA’s gains this week is the growth of its gaming ecosystem. Among its top-ranking games is the Legacy Game.
— Gala Games (@GoGalaGames) October 27, 2023
GALA tokens find utility within the Legacy Games ecosystem; they enable players to acquire land, buildings, and gems. This game is quite immersive and attracts the interest of the crypto-gaming community, making them invest in GALA tokens.
Furthermore, within the Gala Games ecosystem, Legacy Tickets will be automatically converted into $GALA once a day. Also, the amount of $GALA converted for each Legacy Ticket is determined by the total available in the reward pool.
This additional utility for $GALA tokens is likely supporting its price gains today. Also, the uptrend for GALA is evident from the multiple green candles on the daily chart.
GALA Trading Above Upper Bollinger Band Confirming Bullish Dominance
GALA is in an uptrend on the daily chart, finding support at $0.0185 to continue its rally. It has broken above the upper band of the Bollinger Band (BB), confirming that the buyers are dominating the market. Also, the RSI indicator is in the overbought zone and displays a value of 78.3.
This implies that GALA will likely record further price increments. Although GALA faces resistance at $0.0209, the indicators suggest that it will likely break above it to record further gains.
Therefore, a positive price trajectory is expected for GALA in the coming days if the buyers persist.
Internet Computer (ICP) – The Builders Network
ICP also ranks among the top gainers today, October 30, with a 7.6% surge in its price at $4.05. Meanwhile, it also records impressive gains of 24.1% on the weekly chart, benefitting from the greed phase in the market.
According to Dfinity Developers, Internet Computer has surpassed 2.5 billion blocks confirming its expansion and evolution. Also, over 180,000 transactions have been processed on the network, with the 90-day peak period recording 3,855.94 transactions/second.
The #InternetComputer has surpassed 2.5B blocks 🤯
With every block, the ecosystem continues to expand and evolve ✨
— DFINITY (@dfinity) October 27, 2023
These figures suggest that the Internet Computer has become a hub of on-chain activity since its creation. Furthermore, the ICP developers seek to combine the Autonomous worlds with Internet computers to get the best results in Blockchain gaming.
These developers hope to achieve their goals by providing unique gameplay mechanics for a new era in gaming worldwide. On the daily chart, ICP shows an improved price performance, although it faces resistance as some buyers seek to make a profit.
ICP Facing Stiff Resistance at $4:03 Is A Retracement Ahead
ICP is in the overbought zone as buyers forced a rally for the asset after finding support at $3.7. The RSI indicator confirms the asset is in the overbought zone, displaying a value of 78.2. Also, ICP is trading above the Parabolic SAR indicator, implying that the bulls are still intent on pushing further price gains for the asset.
However, ICP has formed a red candle on the daily chart today, indicating a possible retracement ahead for the asset. Also, ICP is facing stiff resistance at $4.03, limiting its price gains on October 29 and today.
If the RSI indicator retraces into the channel, the ICP’s price will likely decrease in the coming days.
Meme Kombat (MK) – The Utility Ecosystem for Meme Coin Lovers
Meme Kombat’s approach to the $900K mark in its token presale is one of the factors putting it in the spotlight as a top gainer today. This project is a recently launched program that allows its users to gamble over the result of AI-powered battles between their top meme characters.
New week. New possibilities.
Gonna be a big one for Meme Kombat as we approach $900k in presale💪 pic.twitter.com/IrItVNW1Fu
— Meme Kombat (@Meme_Kombat) October 30, 2023
As the name implies, Meme Kombat’s use case combines the virality of meme tokens with the vibrant, trending, and hilarious allure of cryptocurrency casinos. For this reason, it poses a notable promising project for crypto enthusiasts and investors.
When users wager on battles using the platform’s native token, $MK, the demand stream gains sustainability, posing a factor that could strengthen its value over time.
Again, it is supported by a revolutionary staking mechanism, where Meme Kombat offers a massive annual percentage yield of up to 112% APY to its token holders.
This aims to drive demand and get rid of a substantial amount of the $MK token from circulating. The purpose of $MK isn’t just about purchasing and trading; it’s also about putting your tokens into Meme Kombat and betting on battles to have a chance at winning significant rewards!
In addition to the project’s usual battles, Meme Kombat will host even more exciting and highly anticipated battles with substantial prizes for the winners. So far, the $MK presale has reached $0.1667, with up to $873,997 raised in the long run.
This dramatic surge hints at the growth potential of this two-fold crypto project. The presale target is $1,000,000, which means the coin is getting close to its listing phase.
Those interested in this attractive and lucrative coin can buy it today to secure their position ahead of the official listing coming soon.
Meme Kombat’s Gambling Attribute is a Key Driver of Its Growth
— Meme Kombat (@Meme_Kombat) October 29, 2023
Gambling is a rapidly growing business, according to data from Statista, the online gambling industry is expected to be worth $95 billion in 2023.
Crypto plays a significant role in this growth, mainly because blockchain technology is excellent for activities like gambling, where fairness, trust, and transparency are essential. If you combine gambling with gaming and meme coins, you have a winning formula.
This could make Meme Kombat far more valuable than $1 billion, outperforming popular meme coins like Dogecoin and Shiba Inu. Interested in this high-growth potential asset? Buy Meme Kombat now while the presale is still ongoing!
Bitcoin Minetrix (BTCMTX) – The Bitcoin Cloud Mining Solution
Bitcoin Minetrix is a platform that lets regular folks mine Bitcoin (BTC) in a safe and decentralized way. The project made mining safer by using tokens and blockchain technology to remove the risks associated with third-party cloud mining scams.
Here’s how it works: Instead of dealing with complicated hardware and the risk of scams, you can stake BTCMTX tokens. These tokens earn you credits, which you can use to mine BTC. It’s a simple and secure way to get into Bitcoin mining.
The traditional cloud mining approach has high costs and can be risky, but Bitcoin Minetrix changes that. You only need an Ethereum-compatible wallet, like MetaMask, to buy and stake BTCMTX tokens.
When you stake these tokens, you get credits that can be exchanged for BTC mining power.
The advantages of Bitcoin Minetrix are clear: it’s accessible with a low cost of entry, safe and secure, user-controlled, simple to use, and flexible in terms of staking.
This makes it a great option for ordinary crypto enthusiasts. It’s easy to get started, cost-effective, doesn’t require physical space or generate noise, and eliminates worries about selling aging mining hardware.
The BTCMTX token in presale is now boasting over $2.7 million in its fundraising campaign. This price mark shows the dramatic success rate of the presale, hinting at the coin’s possibility to grow in a short period.
Factors That Could Possibly Boost Bitcoin Minetrix Value
Without a doubt, Bitcoin Minetrix (BTCMTX) is ushering in a new prospect to potential crypto investors, making its growth potential high.
Another factor that could fuel Bitcoin Minetrix is its stake-to-mine utility, which combines staking and mining. Bitcoin mining can be very profitable, but it’s not always accessible for regular investors while staking, on the other hand, is more doable for everyday people.
Now, Bitcoin Minetrix combines these two ideas to offer the benefits of both. This unique feature is likely to encourage investors to stake their tokens to gain access to mining benefits and earn passive rewards.
When you stake BTCMTX tokens, it reduces the number of tokens available, making them rarer within the Bitcoin Minetrix system.
This rarity can push up the price of Bitcoin Minetrix. Besides these factors, some other key growth drivers for Bitcoin Minetrix are the coming bull run, social media traction, and exchange listing.
With the positive sentiments in the crypto market, most investors will likely anticipate a bull run ahead. If Bitcoin rises to $ 40,000, the bull run will likely continue. Also, if the positive price action continues, the market could consolidate its gains in the first quarter of 2024.
However, historical price data reveals that a retracement often follows rallies in the crypto market. Also, since the price gains are largely reliant on speculation, negative events could force a retracement.
Therefore, investors must conduct proper research and apply risk management techniques to prevent severe losses.
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