Bitcoin has broken its all-time high (ATH) for the third time in 24 hours.
As the crypto market continues to show strong momentum following Donald Trump’s election win, which coins could give the most gains going forward?
BTC Explodes After “America’s Most Pro-Crypto Congress” Gets Elected
Not only did Donald Trump win the presidential race yesterday, but most elected congressional members were pro-crypto.
This removes what could have been a major choke point for Trump and other crypto advocates in creating a brighter future for the industry inside the United States.
Over 240 pro-crypto candidates were elected to the House of Representatives and Senate, which Coinbase CEO Brian Armstrong called “America’s Most Pro-Crypto Congress.”
Welcome to the new members of America’s most pro-crypto Congress ever… 219+ pro-crypto candidates and counting have now been elected to the House & Senate.
Tonight the crypto voter has spoken decisively – across party lines and in key races across the country. Americans… pic.twitter.com/t91wC3Wtzr
As such, the price of Bitcoin and other crypto assets has rallied, fueled by anticipation of an economic boom as the industry’s long-standing legal fights get overturned.
Upcoming deregulation wave will create an economic sonic boom.
Currently, Bitcoin is trading at $75.5K, having recently topped its previous ATH by hitting $76.4K. It is up 6% today, 4,2% this week, and 20.4% this month.
Similarly, the broader crypto market has also seen big gains.
Ethereum is leading the way among large caps with a 13% pump today. Meanwhile, Solana is up 9.6%, and BNB is up 5.3%.
Yet, the low-cap projects are making the most gains. Simon’s Cat has soared 27%, and Peanut the Squirrel is up over 100%.
4 Altcoins That Could Explode
Here are four coins that could prove smart investments as the crypto bull rally continues.
Pepe Unchained
Pepe Unchained is a viral presale building the first Ethereum layer 2 blockchain for meme coins.
The ‘Pepe Chain’ will be 100x faster and much cheaper than Ethereum, making on-chain transactions frictionless, even for the smallest of traders.
They’ve already raised a staggering $25 million, but the project is heating up after revealing a launch pad app that allows everyday users to create their own meme coins in two clicks.
This is akin to Solana’s pump.fun, which has birthed multiple success stories like Goatseus Maximus, Fwog, and Moo Deng.
But, since Pepe Unchained’s launch pad is in the Ethereum ecosystem, it benefits from Ethereum’s high liquidity and strong user base while delivering lower fees.
The current $PEPU presale price is $0.01229, but this will rise throughout the ICO, with the next increase in one day.
Crypto All-Stars is another meme coin-focused infrastructure project. They’re building a unified staking protocol that lets users generate passive income on their joke tokens.
This year, the meme coin space has become much more comprehensive, reflected by projects like Crypto All-Stars and Pepe Unchained.
With Crypto All-Stars, users who hold $STARS tokens can deposit Dogecoin, Shiba Inu, Pepe, Mog Coin, Bonk, and more to earn passive $STARS rewards in return.
However, their rewards are proportional to how much $STARS they hold. This creates an environment where holders of all the top meme coins compete for a single crypto asset.
And supply will be limited as well. That’s because users can also stake their $STARS tokens for more rewards. $STARS staking is live and offers a 500% APY.
The project is undergoing a presale and has raised $3 million so far. The current price is $0.0015494, but this will rise in two days.
Injective Protocol is a layer 1 blockchain that focuses on decentralized finance and interoperability. It also offers AI tools to enhance users’ DeFi activities.
INJ was a top-performing crypto asset in 2023, outpacing most other major cryptocurrencies. However, it struggled to stay afloat amid the crash in 2024, falling from being a top 25 cryptocurrency to the 42nd most valuable today.
That said, the momentum is turning for INJ. It’s outpacing tokens of a similar market cap today and is currently up 19%.
This could mark a shift in its trajectory, where traders begin reentering thanks to the bullish market environment.
Injective Protocol has robust fundamentals, with features like token burns, an expansive ecosystem, and compatibility with both the Cosmos and Ethereum ecosystems.
The project is currently priced at $21.66 with a $2.14 billion market cap.
Fartcoin
As mentioned, Goatseus Maximus is one of the leading meme coins born on Solana’s Pump.fun meme coin generator app. Its success was due to its being an AI-related meme coin continually shilled by the social media account Truth Terminal, which is an AI chatbot.
Goatseus Maximus now has over $700 million, but Fartcoin is another AI-related meme coin with a much lower market cap and serious momentum.
Given the market’s fixation on AI and meme coins in 2024, this is a perfect growth scenario.
Fartcoin is a Solana-based meme coin created based on a conversation between AI chatbots. The entire discussion is available on the project’s website.
Currently, it’s trading at $0.0015494, up 4% today and 102% this month. It has a $58 million market cap and a $35 million 24-hour trading volume.
Published in B&T Latest News
7 November, 2024 by The bizandtech.net Newswire Staff
Ethereum Eyes $3,000 Amid Weakening Selling Pressure: Can Bullish On-Chain Metrics Hold ETH Price?
Ethereum experienced a strong start to November, triggered by a $500 million influx into the cryptocurrency market following Donald Trump’s election win. The recent rise in Ethereum’s price has led analysts to speculate about the start of a bull run. This viewpoint is supported by the rise in various on-chain metrics and the announcement of the Mekong testnet.
Ethereum is Set for Further Surges
Since November 6, Ether (ETH) has climbed over 9%, as per data from TradingView. This is the first time Ether has surpassed the $2,800 mark since August, surprising some traders with its sharp increase.
It’s worth noting that over the same 24-hour period, ETH has outperformed both BTC and SOL. Additionally, key on-chain metrics have reached new peaks during the last day. Consequently, many analysts now believe that Ethereum could see further upward movements in the coming days.
Data from IntoTheBlock states that the whale transaction metric surged exponentially. In the last five days, whales accumulated Ethereum heavily as the last transaction volume surged from the low of $2.5 billion to a recent high of $8.7 billion.
Amid Ethereum’s surge, the Ethereum Foundation has launched the Mekong Testnet, a temporary setup to test new features for the upcoming Pectra upgrade. This has further strengthened the buying demand.
There is a noteworthy shift as the Netflow of ETH on exchanges is declining, suggesting that holders are accumulating rather than selling. Data shows that the Netflow decreased from a high of 71.7K ETH to just 4.7K ETH, indicating that more ETH is being withdrawn than deposited as its price rises. This trend typically shows a positive sentiment in the market, as it implies holders are expecting higher prices in the future.
However, there’s a rising concern as three Ethereum holders sold large amounts of ETH following price increases. One whale transferred 25,000 ETH to Kraken, while another sold 8,701 ETH. Another whale began selling 12,001 ETH worth $34.1 million, creating a rejection in the ETH price chart.
What’s Next for ETH Price?
Ether price broke above multiple resistance channels and reached a high near $2,900. However, this level attracted massive selling interest, plunging the price toward immediate Fib channels. As of writing, ETH price trades at $2,842, surging over 4% in the last 24 hours.
The bulls are currently aiming for a strong defense as ETH aims for a retest of the rejected level. The ETH/USDT pair might climb to the resistance line and possibly reach $2,920, where heavy selling is expected. If buyers can break through this level, the pair could surge towards the $3,000-$3,300 resistance zone.
However, if the price drops from the resistance line, it suggests that the pair might continue to trade within a bearish zone. A drop below EMA20 might give bears the upper hand, sending the price below $2,500.
Published in B&T Latest News
7 November, 2024 by The bizandtech.net Newswire Staff
Peter Brandt Claims ETH, SOL Poised For Breakouts, Favours Solana For Its New Highs
In the latest X post, veteran trader Peter Brandt shared a trader’s perspective on Solana and Ethereum. He noted that both are poised for upside breakouts to join Bitcoin; however, he specifically pointed out Solana and urged the users to notice SOL breaking out into new highs.
$ETHUSD vs. $SOLUSD (same period) A trader’s perspective Both are poised for upside BOs to join Bitcoin But notice, SOL breaking out into new highs ETH chewing into overhead resistance (supply) I always favor new highs and prefer SOL Only those supporting @elonmusk can reply pic.twitter.com/rzQCZOjP9c
He mentioned that Solana is breaking out into new highs while Ethereum is “chewing” into overhead resistance. The chart showed that SOL is on the verge of breaking the resistance at $200 and soaring beyond its current all-time high (ATH) of $260.
Solana has cleared critical resistance zones and is in the process of setting new highs. Solana is trading well above its 8-week SMA. Staying above this average shows strong bullish momentum for Solana and any pullbacks could find support at this level.
ETH Struggling To Break Resistance Level
The Ethereum chart on the other hand showed that ETH is still struggling to break above the $2,800 resistance level. The chart also reveals that Ethereum encounters selling pressure as it moves towards higher levels.
Ethereum’s price remains above the 8-week Simple Moving Average (SMA) which suggests upside momentum. However, ETH still faces multiple resistance zones to achieve new highs.
Brandt Prefers SOL
Brandt shared “I always favor new highs and prefer SOL.” He also noted that he prefers Solana over Ethereum.
Solana and Ethereum continue to fight to cement their positions in DeFi. In the last 24 hours, Ethereum is number 1 among all networks in terms of DEX volume. It witnessed a trading volume of $2.94 billion during this period while Solana is behind with a trading volume of $2.53 billion.
However, Solana still leads Ethereum in 7-day trading volume, with $13.61 billion traded during this period while Ethereum’s volume stands $10.99 billion.
Published in B&T Latest News
7 November, 2024 by The bizandtech.net Newswire Staff
Price Pumps This November: SOL, KAS, And LNEX Destined For Massive Growth
Open interest in Solana futures surged, pointing out the growing confidence in the market. Trading volume in Solana’s future contract also serves as a better investor reference framework. Solana has already recorded an increase in daily trading volume by over 33% despite its weekly price dipping by 7%. Kaspa (KAS) has also experienced a dipping trend, with a monthly dip of over 27%.
But, it has received increasing attention from investors following its volatility at a crucial price level. On the other hand, Lunex Network (LNEX) is turning out to be the best DeFi project. The project has already raised over $1.9 Million in its presale stages owing to its unique features and a recently concluded audit by SolidProof.
Lunex Network DeFi Features Set to Push Its Price Higher In November
Lunex Network is a Web3 decentralized exchange platform backed by tremendous potential. The project leverages advanced cryptographic approaches to offer seamless cross-chain transactions. Lunex Network supports over 50,000 trading assets across different blockchains. This feature has made Lunex Network a popular presale project attracting DeFi traders across the globe.
Lunex Network also operates non-custodial, making it an extremely secure platform. The project offers a revenue-sharing model, allowing LNEX holders to get a slice of the generated profits. Moreover, those who hold Lunex Network for just 30 days will earn up to 18% APY in passive income.
Just in its presale stages, the LNEX token has recorded over 58% surge to trade at $0.0019 from its starting price of just $0.0012. Its ongoing giveaway of $500K is also set to drive immense engagement, which could lead to high demand and possibly push its price even higher in November.
Solana Price Prediction: Is The $200 Level Near?
The Solana price remains in a consolidation phase, which reflects the current crypto market’s sluggish momentum. Despite its robust surge over the past month, SOL price performance has moved sideways, but investors still anticipate it could hit the $200 mark.
According to an analyst, Solana seems ready for a breakout, particularly if the BTC price surpasses its ATH. This anticipated shift might ignite bullish trends, propelling the SOL token into a new growth phase within the crypto market. The Solana price, which trades around the $163 mark, recorded a notable surge of over 12% in the past month. A breakout from its double-bottom pattern also saw Solana hit the $180 mark.
Technical indicators such as the RSI, which is at 51, support bullish momentum backed by SOL’s 30-day SMA, which is at $160.9. The Awesome Oscillator also shows a recent shift towards green bars, suggesting growing momentum. With key resistance within the $170 mark, a move above this level will drive further gains while fueling optimism among investors amid the current market volatility.
Kaspa Price Fluctuation Signals A Potential Bullish Momentum to Over $0.12
Trading at around the $0.108 Kaspa price has been experiencing sharp fluctuations, trading within the $01 and $0.2, prompting technical analysis of potential price movements. However, the coming day might be volatile for Kaspa as its technical indicator and key support levels suggest a potential bullish reversal.
Kaspa’s price has been trading on a downtrend, residing just above its lower Bollinger Band. This position is below the 20-day SMA of $0.121, which suggests that the KAS token is still in a bear market. Its RSI also supports a bearish outlook at 33, slightly above the oversold region. However, if the price of Kaspa manages to overcome its 20-day SMA, an upward reversal pattern is likely to occur, targeting the $0.12 level.
The $0.11 and $0.12 resistance zones remain a key barrier. Breaking this resistance might boost investor confidence, leading to a stronger upward trend. If the KAS price fails to breach this level, it could lead to a pullback and consolidate further. However, according to CryptoMocro, there is an increasing belief that Kaspa’s price performance might significantly surge and enter the top 10, supported by upcoming project advancements.
Can Lunex Network Mirror Solana and Kaspa Price Performance?
Despite the recent dips in the crypto market, Solana and Kaspa have showcased impressive market resilience, with YTD of over 296% and 97%, respectively. Lunex Network aims to mirror this performance and record impressive gains throughout its presale, backed by its token scarcity of just 8B.
Discover the Exciting Opportunities of the Lunex Network (LNEX) Presale Today!
Trump has just won the US Presidency, elected to his second term after a victory over the Democrats. It’s a joyful day for crypto enthusiasts in particular, as you may remember Trump’s promises of being pro-crypto and launching a strategic national crypto stockpile post win. Expecting the win for the Republicans, Bitcoin already touched an all-time high on Tuesday night, going past $75,000! The crypto market could only go up from here, beginning a new ascent into the next bull run.
In the last bull run of 2021, we saw DeFi taking precedence as Bitcoin stepped back a little as the prime focus during a market rally. This time around, DeFi is expected to resume its role, with other sectors like memecoins coming into play.
Memecoins spearheading next bull run
Here we ask you to take a look at the 2024 Q3 crypto industry report shared by CoinGecko in October. The top three crypto narratives were memecoins, Solana meme coins, and AI, as you can see in the image below.
Notably, memecoins and AI remained in the top three in Q1 and Q2 as well, sealing both in as trending crypto categories. Meanwhile, Bitcoin continues to stabilize as an asset class, slowly trading away its trademark volatility for reliability as a store of value. Put two and two together, and you will realize that young, promising crypto narratives like memecoins and AI will take charge in the next bull run, and Bitcoin’s price movements will not remain the sole indicator of major market shifts in the coming times.
Now, what’s interesting is the emergence of Solana memecoins as a top narrative of its own in Q3. Memecoins have gained popularity due to a unique blend of gen-z humor and FOMO. More often than not they are a reference to recent pop culture phenomena, which is how they generate a lot of hype, and people tend to buy them quickly to become one of the ‘insiders.’ With tight-knit communities, memecoins are showing significant returns.
Meanwhile, memecoins on Solana in particular are grabbing attention as Solana is an exclusive blend of high TPS and low transaction costs, achieving convenience no other contemporary has been able to match just yet.
Let us tell you about our top 3 memecoin picks before the next rally:
Top 3 memecoins to watch out for as the next crypto bull run approaches
FOMO.fund ($FOMO)
AI agents on blockchain are gaining popularity, as they simplify blockchain for a wider user base and bridge the AI and web3 sectors. Blockchains provide a decentralized environment for AI agents to flit through, and a degree of autonomy no traditional web2 setting affords such agents. In return, AI agents take up complex tasks and do everything from helping web3 users with research to tracking the latest news to completing generating and transferring value on their behalf.
FOMO.fund is a leading memecoin launchpad on Solana, and it has also recently announced the world’s first AI agent launchpad on Solana. This means the project has artfully combined the currently trending memecoin and AI sectors.
With FOMO.fund, users can create their own tokenized AI agents in under a minute. These virtual entities can do anything from learning and interacting to performing various tasks. Further, they can even become social media influencers and create content surrounding crypto tokens on X, TikTok, YouTube, and more!, engaging with the respective communities!
If you want to be an early bird to FOMO’s AI agent token launches, you can join the $FOMO presale currently live. The project promises 15% of the entire $FOMO supply to early community members joining during the presale! Remember, the sale is only active until November 7, and the $FOMO tokens up for it might sell out sooner.
We expect $FOMO prices to soar during the coming bull run given its strong fundamentals, so hurry up!
Pepe Unchained ($PEPU)
Another memecoin to adopt a very popular internet meme, $PEPU recently concluded a presale that hit a $23 million milestone. Differentiating itself from most competitors, $PEPU has also introduced a layer-2 blockchain solution, adding an actual functionality to humour and the traditional charm of memecoins.
Recently launched, $PEPU has a similar appeal to $FOMO mentioned above, and promises good returns.
Popcat ($POPCAT)
Being a cat-themed memecoin in a world swimming with dog-themed ones, Popcat caught on pretty quickly. The crypto is created after the internet-celebrity cat called Oatmeal. $POPCAT earned listings on Binance Perpetuals soon enough, and there are rumours that it might soon get listed on A-listers like Coinbase and Binance Spot, which means this is yet another crypto expected to provide good returns in near future.
You should note that compared to $POPCAT and $PEPU, both established crypto, $FOMO brings an extra advantage of being a pretty new project. Early investors can expect to see explosive growth on their investments as the next bull run approaches! That being said, take all investing advice given to you with a pinch of salt and DYOR before you dive into investments!
Happy investing!
Published in B&T Latest News
7 November, 2024 by The bizandtech.net Newswire Staff
Former CEO Changpeng Zhao received offers for his controlling stake in Binance: report
Zhao did not say if he plans to sell his company shares, nor for how much or to whom, but says he’s happy to review offers.
Published in B&T Latest News
7 November, 2024 by The bizandtech.net Newswire Staff
The Artificial Superintelligence Alliance (FET), the leading crypto-AI token is gaining significant attention from crypto enthusiasts following a notable 25% price surge in recent days. Despite this impressive performance, FET is poised for another rally as it has formed a bullish price action pattern on its daily time frame.
FET Technical Analysis and Upcoming Level
According to expert technical analysis, FET recently broke out from a falling channel price action pattern and closed a daily candle above a crucial resistance level and this pattern. This price action has shifted FET’s sentiment from a downtrend to an uptrend.
Source: Trading View
Following the breakout and candle close, there is a strong possibility that the asset could soar by 25% to reach the $1.78 level in the coming days. However, achieving this 25% rally will not be easy, as there is a minor hurdle at the $1.51 level, which may act as a resistance in the coming days.
FET’s bullish thesis will remain valid only if it stays above the $1.31 level, otherwise, it may fall.
FET’s Bullish On-Chain Metrics
On-chain metrics further support FET’s positive outlook. According to the on-chain analytics firm IntoTheBlock, large transaction volume for FET has surged by 61%, indicating strong participation from whales and institutions amid bullish sentiment and the recent breakout.
Additionally, this significant increase in large transactions suggests a bullish outlook for FET holders and points to a potential buying opportunity.
In addition to transaction volume, FET’s open interest has increased by 8.5% over the past 24 hours, indicating growing trader positions as market sentiment begins to shift.
As of this writing, FET is trading near $1.41 and has experienced a price surge of over 2.15% in the past 24 hours. However, during the same period, its trading volume dropped by 43%, indicating lower participation from traders and retail investors.
