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Global stock markets ended Friday's trading poorly, as US stocks lost ground. However, the US dollar strengthened against the Japanese yen. This comes after several reports that the Bank of Japan will maintain its binary position for some time.
US investors are now hoping for a softer landing. Companies are expected to receive funding at low interest rates to avoid a credit crunch when Fed rates come in.
On Friday, global equity funds are still on the right track. This phenomenon is of concern due to China's slow economic growth. It also raises a sense of caution ahead of the Fed's meeting scheduled for next week.
At the same time, the cryptocurrency market managed to add 0.52% in price over the past 24 hours. However, the trading volume decreased by 11.67%. According to our upcoming cryptocurrency report , this is the lowest since Friday . Investors and traders may get more incentive to buy crypto over the weekend. This will be a way to keep the cryptocurrency market afloat while other factors try to work.
Some cryptocurrencies are in the green zone and may enter a bullish trend. If all players unite, the entire cryptocurrency market will make a big profit. Bitcoin market dominance increased by 0.04%.
1.BTD20 (BTD20)
A new token inspired by the market-leading currency Bitcoin is going through a presale. BTC20 is gaining momentum in market conditions . The token raised over $500,000 in four days and is now worth over $850,000. It also comes with more utilities than other version 2 tokens.
BTC20 is built on top of Ethereum, so it is an ERC-20 token. It carries the excitement of the early days of Bitcoin and the most popular crypto trends. This is a strategy used to attract the attention of investors and get funding from them.
The first goal of BTC20 is to recreate the origin story of Bitcoin when it was sold for $1 and then began its initial sale with a supply of 6.05 million tokens at $1 each.
In addition, the project has a supply limit of 21 million, similar to Bitcoin. 14.95 million of this amount will be used as affiliate rewards. This will encourage community participation and responsibility.
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— BTC20 (@BTC20Token) July 22, 2023
Another thing that really sets BTC20 apart from Bitcoin is the protocol. Bitcoin uses proof of work to create new blocks through mining, while BTC20 uses proof of stake. It is an ecological model that promotes sustainability. This allows token holders to earn passive income while maintaining the security of the network.
The development of the token as an ERC-20 token allows users to easily interact with decentralized applications. Users can use an Ethereum compatible wallet to improve their experience.
According to the white paper, the BTC20 launch strategy follows Bitcoin’s 120-year plan. This is a way to control price inflation and ensure early adopters get high rewards.
BTC20 also has a clear strategic roadmap including tokens, partnerships, and expansion of decentralized applications. It comes with a governance system that allows token holders to participate in the decision making process.
Essentially, BTC20 combines the core principles of Bitcoin with cutting-edge blockchain innovation. Investors should not miss this opportunity.
See BTC20 .
2.THRON (TPH)
The last 24 hours have been pretty impressive for the Tron network. As mentioned above, there was no significant momentum in the market and most assets rose rather slowly. But Tron is gaining 8% in its field, which has excited investors.
It should also be noted that most altcoins fail to take advantage of the ambivalence of Bitcoin. Dominance in the money market is relatively weak, but the facts are consistent.
Among the many altcoins of the past week, the most obvious was the rise of Tron. Basically they didn't get full interest. TRX's 8% gain is the best among the top 100 assets by market cap.
It is clear that TRX will be the next cryptocurrency to explode . The daily chart shows the current price movement above the 50-day EMA. The daily RSI rose above 70, moving into overbought territory.
Another bullish indicator is Tron Average Direction. It crossed 25, indicating a strong uptrend. The asset currently has a market capitalization of $7.66 billion, according to CoinMarketCap. The trading volume for the last 24 hours was $668.37 million.
With this information, TRX reversed its main resistance at $0.0857 and exited horizontal trading. If the current tempo is maintained, it will reach $0.1. The market will see this rally continue.
3. XDC network (XDC)
XDC kicked off Saturday with first place on the Coinmarketcap winners list. The token is currently trading at $0.04945, up 17.82%. It was the highest deal since April last year. XDC has rebounded 40% from lows to highs over the past 5 days.
So far this year, XDC has scored 97.17%. The price of this token is growing with the probability of a trend reversal. It is likely to make new highs with a hard hit against the $0.04 resistance. The market expects strong support to continue rising prices and create new demand,
The token is currently trading above the 25-day and 50-day simple moving averages. This is good news. XDC currently has a market capitalization of $679.68 million based on current price action. The RSI is currently holding a major resistance level as both rise to overbought levels.
In terms of utilities, XDC is good for enterprises because it is a blockchain with private and public components. As the native token of the XinFin network, it opens the door for many applications. It includes interoperable smart contracts enabling seamless payments, which companies find attractive if they want to purchase blockchain infrastructure.
XDC has gone through several price changes since its inception. It reached an all-time high of $0.17 during the 2021 bull market and has also declined significantly. It rose to $0.05 this year before falling again. Currently struggling with $0.04, looking forward to next year 2023.
Some analysts argue that the advent of the Chain IDE partly explains its growth. Note that the opposite happened when bitcoin briefly dropped below $30,000.
If the current trajectory continues, XDC will hit $0.059 soon. Investors must step up their game to realize this price level. Otherwise, the asset could fall to $0.29.
4. Litecoin (LTC)
Litecoin appears to be the next cryptocurrency to explode as traders anticipate a rally around it . One of the main reasons for the hype around this coin is the upcoming halving ceremony. This is when the coin mining block reward will be halved. LTC holders are waiting.
The coin is currently trading at $93.72, up 1.45%. It is still holding above the $90 psychological level.
There are only 11 days left until the LTC half-event. This is very important for LTC wearers for two main reasons: First, it reduces circulation. When the premium is halved, it takes the pressure off LTC sellers.
Secondly, the middle event will be the catalyst for the draw. Traders believe that the upcoming halving will be enough to keep the price of the asset above $90.
In the middle of the event, 1,185 new wallets joined the Litecoin network. The owner of this portfolio is optimistic about LTC. We hope that more traders and investors will join the network and the price will reach $100 after the halving.
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