Speculation in the crypto market is at an all-time high as the total market cap value surged to $1.42 trillion in the last 24 hours. Notably, Bitcoin’s rally above $36,000 has increased speculation that a bull run is ongoing.
Bitcoin’s price hike moved its market dominance above 50% as speculation of a Bitcoin ETF approval increased. According to Bloomberg analysts, if the ETF approval does not occur in November, it will likely occur by January 10.
Bitcoin’s market cap surged to $716 billion, posting its best figures this year.
Also, the speculation resulted in an altcoin rally with other cryptocurrencies, such as HT, MINA, NEO, and Meme Kombat, recording notable gains. Today’s top gainers strongly correlate to Bitcoin’s price and exciting developments supporting their rallies.
Find out the possible price outlook for these tokens below.
Huobi (HT) – The Global Crypto Exchange
HT’s price on November 9, at 5:39 am EST, is $2.89, with a 20.5% increase in the last 24 hours. Also, as the bullish trend continues, HT has gained 15.9% in the past seven days.
Notably, Huobi Exchange announced some exciting developments in its ecosystem, possibly fueling the rally.
— 火币HTX (@HuobiGlobal) November 9, 2023
Huobi Exchange announced the launch of a trading contest to give users a share of a 10,000 USDT price pool. According to the rules, users who visit the event page on any day will be automatically included in the event. Also, their transaction amounts during the event period will be calculated.
Furthermore, participants who trade TPY spot trading pairs during the contest period are eligible to receive prizes. This contest is likely driving the price of HT tokens in the crypto market.
Additionally, the Winter Affiliate Futures Team contest is ongoing. So, contestants can combine to trade futures and compete to receive a share in the 200,000 USDT price pool.
Notably, this contest will run from November 9-30. These exciting developments in the HTX ecosystem are leading to impressive gains for the token on the daily chart.
HT Buyers Approach The $2.91 Resistance Level: Is A Break Above Possible for This Crypto?
HT has found support at the $2.41 price level with the Maribozu candle formed today, confirming the control of buyers on HT’s price.
Also, the upper wick of the candle is testing the $2.91 support, and a break above it will send HT to the $3 level in the coming days. Additionally, the Relative Strength Index (RSI) is in the overbought region above 70, displaying a value of 84.4.
Furthermore, the Moving Average Convergence/Divergence (MACD) displays a strong buy signal confirmed by the Histogram bar. So, HT will likely break above the $2.91 resistance level in the coming days before a brief retracement for consolidation.
Mina Protocol (MINA) – The Lightweight Blockchain
MINA price at 5:41 am EST is $0.69, with a 12.8% increase in the past 24 hours. Also, the assets show 17.8% gains in the last seven days as the buyers dominate its price.
Remarkably, the growth and development of MINA’s ecosystem drive its price gains on the daily chart.
The Mina ecosystem is expanding with over 100+ projects, teams, zkApps, and developer tools listed on #Minascan. Explore our comprehensive compilation now.
— Staketab (@staketab) November 2, 2023
The Mina Directory records the exciting new projects launched or developing on the MINA ecosystem. Currently, the projects launched on the Mina Protocol exceed 100, making it a hub for developers and crypto enthusiasts.
Users can filter through ZkApp and non-Zk-App projects and hide projects using the inactive status from the public view. Also, the Minascan tool serves as the largest explorer on the Mina blockchain, with a user-friendly interface and several exciting features.
Meanwhile, the Mina Protocol bridge with Ethereum is undergoing development and will soon launch. Notably, this bridge will introduce backend services for wrapping and posting Mina state proofs to an EVM chain periodically.
Also, a wrapping module will be included to make the Mina state proofs more efficient to verify on the EVM. This bridge will likely drive more transaction traffic to the Mina Protocol and boost the price of MINA tokens.
Furthermore, the Mina Ecosystem will host a special ZK event in a secret location in Istanbul, Turkey. The goal is for attendees to network and share ideas on Zero Knowledge Proofs (ZKPs) in an inspiring location. Additionally, the progress of the Mina Cohort is likely aiding the MINA token’s price gains.
The Mina Cohort is a community-focused initiative to encourage innovation within the Mina community. Remarkably, it brings together projects, developers, and blockchain enthusiasts to contribute ideas to the growth of Mina Protocol.
Some notable proposals in the Cohort include Mina Liquid Staking and the On-Chain funding program. Also, other projects, such as MinaNFTs and ZKSnap, received funding, showing the commitment to growth in the ecosystem.
Registration for Cohort 3, tagged zkIgnite, is ongoing and represents progress for the ecosystem. These exciting developments have aided MINA’s price gains on the daily chart as it attempts to overcome its nearest resistance level.
MINA Entering Overbought Crypto Zone, Will It Break Above Its Nearest Resistance?
MINA has found support at the $0.61 price level and formed a higher high on the daily chart as it approaches $0.75. The wick of today’s candle is attempting to break above the $0.75 price level, and traders must watch out for the close of today’s candle for confirmation.
Also, MINA has crossed the Median Band of the Donchian Channel (DC) and is rising to confirm the bullish sentiment. Additionally, the RSI indicator is rising to the overbought region, displaying a value of 70.4.
Therefore, MINA will likely break above the $0.75 resistance level if the buyers sustain their momentum in the coming days.
Neo (NEO) – The Open-Source Platform
NEO price of $13.99 today at 5:43 am EST represents a 14.2% spike in the last 24 hours. Neo has gained 38% in the past week as the bulls continue to support its uptrend.
The big event in the NEO ecosystem that might have pushed a rally is the Sidechain Naming Campaign, with a $20,000 prize pool available.
Participate in the #Neo Sidechain Naming Campaign and seize the opportunity to win a share of the $20,000 prize pool! 🎁
Spread the word by hitting 💚 and 🔁!
— Neo Smart Economy (@Neo_Blockchain) November 6, 2023
According to Neo Developers, the new EVM-compatible sidechain needs a befitting name that captures the essence of the project. Also, they believe that this sidechain is a vital step in realizing the vision of creating a developer-friendly infrastructure and an efficient DeFi ecosystem.
Presently, the Neo Sidechain Naming Campaign is ongoing, with $20,000 worth of GAS tokens as the dedicated rewards for contestants. This event will run in three phases. Notably, the first phase will run from November 6-15 and encourage the community to share their creativity and ideas.
Also, the second phase will begin on November 17 and end on November 27. Notably, in this phase, the contestants will be shortlisted to the top 20 names. Also, these selections will be listed on a voting platform, granting the community the opportunity to choose the five next names.
Additionally, the third and final phase will run from November 27-30. The panel of judges consisting of core members of the Neo Foundation, the Neo Global Development, and the Neo Community will select the winning name based on Relevance, uniqueness, memorability, and spelling.
Also, factors such as the legal availability of the chosen name and brand alignment with Neo’s overall mission are vital. This sidechain naming contest confirms Neo’s status as an open-source blockchain that encourages community contributions.
It is also attracting more investor interest, community enthusiasm, and engagement. NEO has performed quite well on the daily chart. However, it could likely retrace in the coming days as the buyers begin to short their tokens.
NEO Forms Gravestone Doji On Daily Chart, Will A Retracement Occur?
NEO has found support at the $12.47 price level as it attempts a rally above the $14.12 resistance level. However, the Gravestone Doji formed on the daily chart suggests that some traders are shorting their tokens for profit.
Nevertheless, NEO is still trading above the Parabolic SAR indicator, confirming that the buyers are still active in the market. Furthermore, the RSI indicator is in the overbought region above 70 and displays a value of 79.09.
This implies that NEO will likely retain its gains in the coming days. Therefore, NEO will likely retrace to the $12.47 support in the coming days before pivoting to break above the $14.12 resistance if the buyers resume the rally.
Meme Kombat (MK) – The Ethereum-Based Ecosystem For Rewards
Meme Kombat is a blockchain gaming platform that unites competitors in combat for exciting rewards. Remarkably, it relies on the Ethereum blockchain for speed and security to execute its operations.
Also, Meme Kombat is rising in popularity, with over 8000 Twitter followers shortly after the project launch. Meanwhile, MK, the utility token of the platform, is on presale. Each token is worth $0.189. However, a few hours are left for a price increase.
8 hours remaining at the current presale price for $MK⏰
Secure your tokens before the price goes up another 3%. pic.twitter.com/bna6arHFwz
— Meme Kombat (@Meme_Kombat) November 9, 2023
These tokens can be purchased with ETH, USDT, or on the BSC Smart Chain. Over $1.36 million has been raised out of the presale target of $1.5 million at this stage. The revamped presale will run in ten stages, with each stage unlocking a notable milestone.
Why are Investors Rushing to Grab The $MK Token?
The $MK token finds utility in three main areas of the Meme Kombat ecosystem.
Automated Battles: Meme Kombat characters engage in several battle modes, with the outcomes determined in real-time. Also, these battles are controlled with advanced AI technology and are only accessible with MK tokens.
Wagering: Additionally, $MK tokens can use their MK tokens to wager on the outcome of battles for passive earnings. Victorious wagers will allow players to win exciting prizes such as additional $MK tokens.
Staking for passive income: Staking is another fundamental part of the $MK ecosystem. $MK holders can stake their tokens to earn staking rewards for their participation in the community.
Users can stake their tokens during the presale for additional rewards but will not be able to trade $MK till the end of the presale. Meanwhile, when MK launches on a decentralized exchange (DEX), a user’s ability to withdraw and trade will be linked to their staking activities.
Furthermore, when the $MK dApp launches, users can claim staked tokens and re-stake them in a staking pool. However, the APY for earning staking rewards will vary based on the APY at the time.
Also, the amount each user commits to the staking pool is vital.
How to Stake MK Tokens for Rewards
- Click on the Max option to stake all the MK tokens in your wallet or input the specific amount you wish to stake.
- Approve the staking transaction by clicking on Approve Now.
- Confirm the staking transaction by clicking on Stake Now. Also, ensure that your crypto wallet contains enough ETH for gas fees.
- When the tokens are staked, the system automatically claims all pending rewards using the auto-claim feature.
Meme Kombat Battle Modes Give Users Exciting Rewards And Thrilling Gameplay
Meme Kombat gives users access to thrilling battles and will eventually launch a Meme Kombat card to unlock more features. Users can bet on battles in real time and benefit from several betting options available. These options include Direct betting, Player vs. game, and other exciting modes.
If $GROK had to fight in Kombat, who would beat it?
Also, what form would Grok take when fighting? pic.twitter.com/Rsi9h8eoRD
— Meme Kombat (@Meme_Kombat) November 8, 2023
According to the roadmap, Meme Kombat has exciting milestones to mark its progressive journey and improve its community. Once the platform launches, Season 1 of the Meme Kombat games will follow, featuring battles, leaderboards, and intense gameplay.
The goal at this stage is to encourage community engagement.
Next, Season 2 of Meme Kombat will launch, introducing new battle modes, rewards, and opportunities. Consequently, Meme Kombat will continue upgrades in the future to the platform and gameplay.
Also, the focus will be on expanding community engagement and upgrading their features.
The long-awaited bull run seems to be ongoing in the crypto market as Bitcoin overcomes the $36,000 resistance level. However, the crypto market rally relies on Bitcoin ETF speculation to record its gains, implying that a retracement could occur if they are not approved.
Nevertheless, the altcoins and memecoins also record impressive price gains, likely leading to a strong finish in 2023. Also, investors are still in an accumulation phase; therefore, the buyers have the upper hand in the market.
If the rally persists to the first quarter of 2024, the bull run will likely be quite memorable. However, volatility remains constant in the market, and investors must engage in personal research and risk management techniques.
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