May 19, 2024

The crypto market has found some stability in the past few weeks. Also, the late rally in October has increased speculation of a bull run as buyers continue to accumulate. 

Comparatively, the last quarter of 2022 was quite bearish, leading to a massive selloff event in the crypto market. 

However, the last quarter of 2023 has followed a bullish trend and will likely sustain the rally into 2024. Remarkably, Bitcoin has remained above $37,000 in the last 24 hours, with slight dips below to rest on the $36,900 price level. 

Based on the generally positive trend in the crypto market, altcoins such as Celestia, Klatyn, and Filecoin have merged as the top gainers of today. Find out interesting facts about them and their possible price action in the coming days below. 

Celestia (TIA) – The Modular Blockchain Network 

Crypto

TIA’s price on November 13, at 5:37 am EST, is $5.83, with a 37.1% increase in the last 24 hours. TIA has gained 148.4% in the last seven days, confirming that the buyers are in an aggressive accumulation phase. 

TIA derives some of its gains today from the launch of State Stream, a new feature for on-chain gaming. State Stream enables smooth streaming of data for gaming, giving users a more balanced experience. 

It enables crucial game data such as smart contracts, rollup state, and block data.

Also, it offers near-instant confirmation of transactions, customizable gas fees, and a solid wallet management structure. The State Stream also supports elastic scaling in gaming.

For instance, the game Ottie 2048 has scaled to support 1 million users simultaneously by scaling almost 100 rollups. 

Also, Turbo, another improvement, provides a smooth experience with instant account creation on-chain without spending on transaction fees.

In addition, the Biostream Bridge to Ethereum enables data published on Celestia to be streamed on the Ethereum blockchain. 

Meanwhile, Hyperlane and Celestia Labs are partnering to co-host a conference focused on modular blockchains in Istanbul, Turkey. This event will kick off today, November 13, and is highly anticipated in the Celestia community. 

Celestia Labs is the official sponsor of this year’s ETHGlobal hackathon, which takes place between November 17-19. These improvements and events are aiding TIA’s price gains on the daily chart with massive improvements in the past week.

TIA Buyers Target A Rally To $6. Will It Overcome The Nearest Resistance? 

TIA is in an uptrend on the hourly chart, forming the fourth consecutive green candle after finding support at $5.52. The asset has broken above the Median Band of the Donchian Channel (DC) as it approaches the $5.84 resistance level. 

Also, the Relative Strength Index (RSI) indicator is in the overbought region above 70.

The RSI displays a value of 75.8 and is still rising, confirming pressure from the buyers. Based on the indicators, TIA will likely break above the $5.84 resistance level as the buyers’ target is $6. 

Its rally in the past week is quite impressive and will likely persist if market conditions remain favorable. 

Klatyn (KLAY) – The Sustainable Open-Source Blockchain 

KLAY is trading at $0.17 on November 13, with an 8.2% increase in the last 24 hours. Furthermore, KLAY is up by 23% in the last seven days as the bulls continue to mount pressure for an uptrend. 

Klatyn Foundation’s partnership with PT Pelayan Korindo and NEOPIN, a financial protocol, drives its gains. 

This partnership between these organizations is focused on Real World Asset (RWA) tokenization. The Klatyn Foundation has continued its expansion of RWA use cases in its ecosystem to aid mainstream adoption.

Leveraging on their joint experience in Web3 finance, the Klatyn Foundation and NEOPIN hope to revamp the Asian RWA tokenization industry. 

They hope to begin winning ship-related assets under the care of PT. Pelayaran Korindo an Indonesian conglomerate. Ship finance covers shipbuilding and purchases that use the ships built as collateral. The ship finance market was valued at $525 billion in 2022. 

Additionally, Klatyn blockchain’s fast speed of processing transaction and low fees makes it possible to develop digital asset trading services. This innovative partnership will likely add more value to KLAY in the coming months. Also, it will increase adoption from investors based on utility. 

According to a blog post by Klatyn Foundation, Decentralized Finance (DeFi) has laid the groundwork for crypto adoption. Meanwhile, with the rising acceptance of RWA, assets, such as land, can be digitized on the blockchain. 

Real World Asset tokenization brings benefits such as increased liquidity, fractional ownership, and low transaction costs. On the daily chart, KLAY shows a strong bullish trend as the buyers persist despite pressure from the sellers.

KLAY Finds Critical Support At $0.15, Will The Rally Continue?

KLAY is in an uptrend on the daily chart, forming a Maribozu candle stick on November 13 to flip the $0.15 resistance to support. Notably, KLAY’s recovery continued on November 10 after a brief retracement on November 9 due to the activity of sellers.

Also, the RSI indicator is in the overbought region, displaying a value of 81.7. This implies that the buyers are still active and committed to a price increase. 

The Moving Average Convergence/Divergence (MACD) indicator is bullish, rising above its signal line. Furthermore, the green Histogram bars suggest that the buyers are still determined to push KLAY’s price further. 

However, KLAY faces resistance at the $0.17 price level, which is evident from the long upper wick of today’s candle. Nevertheless, it will likely overcome the $0.17 resistance in the coming days if the buyers sustain their charge. 

Filecoin (FIL) – The Decentralized Data Storage Marketplace

FIL’s price today at 5:44 am EST is $5.57, with a 15.3% increase in the last 24 hours. Also, FIL has increased by 31.2% in the last seven days as the buyers exert dominance.

Filecoin developers’ introduction of the InterPlanetary Consensus (IPC) is likely driving the price gains for FIL.

The IPC is a cutting-edge technology created to optimize Web3 performance.  It enables flexibility for builders and optimizes scaling since it is highly adaptable. Also, IPC enables the creation of customizable sidechains.

These sidechains help to achieve massive scaling by operating parallel chains that are compatible with each other.

The IPC offers users features such as infinitely scalable blockchain networks and customizable networks. Further, it facilitates cross-chain transactions and ecosystem interoperability. Its highly efficient features do not compromise security and scalability. 

According to Filecoin developers, the IPC will find practical applications in Artificial Intelligence, data science, and data storage. Also, it will give practical solutions in Decentralized Finance (DeFi) and Metaverse gaming activities. 

Meanwhile, on November 8, Filecoin developers announced the launch of Filecoin Station, a desktop app. The app lets users easily connect their computing power to the Filecoin network and earn FIL rewards.

This app will likely drive users’ adoption of FIL tokens based on the new desktop app and its rewards. 

According to Messari, Filecoin witnessed a 45% surge in storage demand from users. These stats reveal the rising interest from users in decentralized storage. Also, Filecoin’s DeFi sector recorded impressive figures with over 2,900 stakers and $30 million in deposits in Q3, 2023. 

Filecoin has become the largest decentralized storage network worldwide. Its growth is based on its tokenomics and incentives distributed to members of the Filecoin community. 

These events and developments have reflected positively on FIL’s price, leading to higher highs forming on the daily chart. 

FIL Testing The $5.47 Resistance Level. Will The Sellers Regain Control?

FIL is in an uptrend on the daily chart, forming a fifth consecutive green candle as the buyers uphold the ongoing rally. FIL has recorded higher highs after a brief retracement on November 7, implying that the buyers are still in control. 

Furthermore, it broke above the $5.15 resistance level on November 12 and is resting at the $5.47 resistance level today. 

Additionally, the RSI indicator displays an overbought sentiment, with a value of 86.12. This value indicates that the buyers are still opening new long positions, leading to a price rally.

Further, FIL trades above the Parabolic SAR indicator, confirming the strong bullish sentiment. 

Therefore, FIL will likely break above the $5.47 resistance level to trade at $5.5 in the coming days. However, since it is already overbought, traders must watch the RSI indicator for a sign of retracement. 

Bitcoin Minetrix (BTCMTX): The Innovative Cloud Mining Solution On Ethereum 

Bitcoin Minetrix is a cloud mining solution that enables profitable mining for Bitcoin miners. Notably, the next Bitcoin halving event will occur in April 2024, with the block rewards reducing from 6.25 BTC to 3.125 BTC. 

According to a Yahoo! Finance report, on November 9, Bitcoin mining revenue hit a new yearly peak of $42.38 million.

This figure surpasses the previous high of $41.74 million in May 2023. Based on the report, this surge in mining revenue coincides with Bitcoin’s rise above $37,000 on November 9

Also, the speculation surrounding a possible Bitcoin ETF approval has increased these mining rewards. 

According to the President of Blockchain.com, Lane Kasselman, increased network activity for Bitcoin results in higher transaction fees. So, these high transaction fees led to an increase in BTC miners’ earnings. If these ETFs are approved, Bitcoin miners will profit more. 

Why Choose Bitcoin Minetrix?

Bitcoin Minetrix introduces cloud mining using the tokenization concept. Its novel Stake-to-Earn mechanism gives users an easier and more secure way to mine BTC tokens. So, users are required to stake the BTCMTX utility token to receive mining credits.

These credits are burnt to receive mining time or rewards. Previously, cloud mining has been quite challenging, with numerous scams and a tedious process for miners. 

Most traditional cloud mining companies require miners to sign binding contracts only for limited mining time. 

Bitcoin Minetrix’s cloud mining saves solo miners from expenses associated with mining Bitcoin. Additionally, heat, noise, and space problems associated with mining will be a thing of the past once a user joins the Bitcoin Minetrix Revolution. 

BTCMTX Progressing Rapidly as Buyers Begin to Stake Tokens

>>>Visit Bitcoin Minetrix Presale<<<

BTCMTX tokens are on presale and are arguably one of the best events in 2023. Based on the token’s utility for mining, over $3.9 million has been invested in the project out of the target of $4.68 million at this stage. 

Each token is worth $0.0116 at this stage, presenting investors with an opportunity to accumulate the tokens. However, a price increase will occur in three days, granting early investors paper rewards. 

So, investors can purchase BTCMTX tokens with ETH, USDT, or bank cards by linking a secure wallet to the presale page. 

Meanwhile, the Bitcoin Minetrix staking dashboard is live, and users can stake their tokens for additional rewards. These rewards are distributed to users based on the current APY of 158.5 BTCMTX per block on November 13.

However, as more tokens enter the staking pool, the APY will reduce. 

Also, these rewards will be paid over two years and are distributed based on a user’s share in the staking pool and the current APY. Remarkably, over 275.68 million BTCMTX tokens have been staked as miners anticipate the eventual launch of the cloud mining platform. 

The Ultimate Goal Is Mining Profitability And Security 

Bitcoin Minetrix hopes to make Bitcoin mining more profitable and accessible to miners without technical knowledge. It eliminates the need for costly machinery and the exposure to cloud mining scams, a problem in the mining sector. 

Also, its decentralized approach makes it an open and highly secure mining enterprise deriving security from Ethereum’s blockchain. Based on its utility, BTCMTX will likely be a breakout token in 2023 and beyond.

Also, a price surge after listing on exchanges is quite a possibility. 

Conclusion 

The crypto market has witnessed a complete turnaround in the last few weeks. Bitcoin’s rally has sparked the altcoins and meme coins to life. Also, the NFTs and stablecoins have improved in the crypto market as more investors hope to take advantage of the uptrend. 

Nevertheless, a brief retracement will likely occur if Bitcoin gets rejected at $40,000 or earlier. Eventually, investor sentiment and relevance will determine how cryptocurrencies perform moving forward.

Meanwhile, investors are advised to conduct proper research to avoid devastating losses. 


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