The cryptocurrency market rebounded on September 13, with a slight increase in total market capitalization of $1.08 trillion. Interesting developments in the cryptocurrency world are likely to affect current prices.
Bloomberg reports that multinational investment firm Franklin Templeton has joined the race to offer a bitcoin spot ETF. If this ETF is approved , BTC is likely to rise in the last quarter of the year, which will have a positive impact on the cryptocurrency market.
In addition, Yahoo! Financial reports report that Bitcoin and other cryptocurrencies showed price volatility in the last 24 hours ahead of the release of US inflation data . However, BTC showed a slight rise and recovered the price level of $26,000.
Despite potential setbacks, some cryptocurrencies are still showing impressive growth thanks to positive investor sentiment and emerging ecosystems.
Compound (COMP) is a DeFi financial platform for Ethereum holders
COMP was trading at $40 as of September 13 09:51 ET , up 11.8% over the past 24 hours . Prices also rose slightly by 2.0% over the past seven days, confirming the gradual return of buyers.
The increase in COMP may be the result of opening the USDC market to Arbitrum in a complex ecosystem .
With this feature, users can transfer USDC from the Arbitrium market to another chain using Circle Cross-Chain Transfer Protocol (CCTP) without connecting to Ethereum .
This process removes unnecessary fuel costs from the energy grid and is likely to attract more investors to the ecosystem, leading to a sharp increase in COMP prices.
As a result of recent developments, COMP is in an uptrend on the daily chart and is trying to break the nearest resistance level as buyers continue to support its price.
COMP tested the $40.7 resistance level
COMP is in an uptrend today after falling between August 30th and September 11th. This created a second green candle in a row, confirming buyer pressure on price.
Furthermore, it found support at $35.5 and is testing the $40.7 resistance level . A break above this level will confirm the recovery of the asset. However, COMP is still trading below the 50-day and 200-day simple moving averages (SMA), which confirms the presence of sellers in the market.
The Relative Strength Index (RSI) is approaching the overbought zone of 70 from the neutral zone of 42.7, confirming bullish sentiment. If the RSI rises above 50, it confirms that the uptrend will continue and buyers can exit. resistance. SUPPORTING
Furthermore, the convergence/divergence of the moving averages shows that buyers are still accumulating COMP tokens and the green bars on the histogram confirm the positive forecast. If buyers remain calm, COMP will return to the $41-42 price range in the coming days.
Toncoin (TON) - Open Network
TON was trading at $1.91 at 9:38 a.m. ET on September 13 , up 9.4% over the past 24 hours. In fact, it has increased by 9.7% in the last seven days, confirming the dominance of buyers.
The big news in the Toncoin ecosystem is the integration of TON into the global messaging platform Telegram, which has led to a rapid increase in the value of TON over the past week.
About three years later, Telegram introduced its crypto wallet and began developing Web 3 in its ecosystem. The presentation of the wallet took place during the Token 2049 cryptocurrency event in Singapore.
The wallet is built on the Blockchain Open Network (TON), which provides access to TON to over 800 million Telegram users. The Ton Foundation also announced that projects built on the TON blockchain will be prioritized for advertising on Telegram.
So today, September 13, Ton Fund noted that the Telegram wallet is experiencing some server issues, as many users continue to subscribe to the wallet every second.
They asked users to stop making claims against the app, stating that users will be notified when the wallet is reconnected to the network. TON's uptrend is visible on the daily chart, where a large green candle has formed, indicating that buyers are in control.
Duncan Channel confirms the uptrend
TON turned resistance at $1.8 support after breaking out of the $1.6 support area and moving into an uptrend. The upper wick of today's candle broke above the $1.9 resistance level, confirming increased pressure as buyers dominate the market.
Furthermore, an increase in TON causes a widening of the upper band of Duncan's channel, which is a sign of growth control. The RSI is at 65.83, near the overbought 70 zone and is likely to close the gap in the coming days.
Although the MACD is still below the signal line, it is rising and crossing it, and the disappearance of the histogram bars also confirms further price growth. TON is likely to hold its gains in the coming days until it enters an overbought zone and buyers start taking profits.
IOTA (MIOTA) - Ledger of distributed transactions
The price of MIOTA was $0.16 on Sep 13 09:40 EST . This represents a 2.8% increase over the past 24 hours and shows that buyers are re-entering the market.
MIOTA has pulled back slightly over the past seven days, and today's rally could signal the start of an uptrend in the asset.
The big news in the IOTA ecosystem was the main network update with its coordinator being replaced by the validator committee. This development is a step towards achieving decentralization and increasing the uptime of the IOTA network.
According to the blog post , the coordinator of the IOTA mainnet is a decentralized committee of permissionless validators, consisting of several trusted validators in different countries.
IOTA listed the advantages of the update, including resistance to censorship , since no organization verifies the authenticity of transactions. This update will likely improve the network and result in significant improvements to the current MIOTA token.
MIOTA has formed a large green candle on the daily chart as buyers rush to collect the tokens due to the mainnet update with optimism for future price growth.
There could be a MIOTA rally in the short term
MIOTA has formed a bullish absorption pattern on the daily chart after the recent downtrend. However, the Parabolic SAR indicator is still above the candle, indicating that sellers are still active.
Furthermore, the RSI rose slightly, but is still in the neutral zone with a value of 52.7 . If the RSI rises, traders can open long positions as the market may recover in the coming days.
Despite today's gains, the MACD is showing signs of an upcoming bullish trap, descending towards its signal line, indicating a possible decline in the future.
The pale green bars on the histogram confirm that traders are still selling their tokens, which will lower the MIOTA price in the coming days.
When investors consider the volatility of the cryptocurrency market over the past 24 hours , the previous Bitcoin BSC and Wall Street Meme sell-offs can be a good way to diversify their cryptocurrency investments.
Bitcoin BSC (BTCBSC) is the choice of smart investors
Bitcoin BSC is an eco-friendly BEP-20 cryptocurrency built on the BNB chain. The purpose of the project is to offer BTCBSC tokens to users at a price of 0.99 USD per token . BTCBSC's IPO continues and attracts more investors interested in its future potential.
Pre-sales raised more than $1.57 million with a minimum capital plan of $4 million. The upcoming pre-sale round will aim to reach a hard cap target of $6.125 million.
Users can buy at least USD 10 BTCBSC for USD 0.99 each by linking their secure crypto wallet to the pre-sale page. Additionally, ETH, BNB and USDT cryptocurrencies are available for users to make these purchases .
Stocks are like the leader of the ecosystem
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The big draw of the Bitcoin BSC ecosystem is having tokens for rewards. Users can redeem BTCBSC tokens immediately after purchase to receive additional rewards.
Note that 69% of the total tokens are allocated as equity rewards that will be distributed over 120 years, causing scarcity and increasing market value.
Users are rewarded based on the percentage of tokens they contribute to the pool of shares. Today, September 13 , nearly 743,000 tokens are offered at a 353% APY.
This stock feature serves as a passive income channel for BTCBSC holders.
Additionally, BTCBSC has an ongoing referral program where users can earn 5% of every purchase made by their friends through their referrals . Referral rewards tend to attract more users to the ecosystem because of the additional rewards.
Binance, the world's largest cryptocurrency exchange, introduced Bitcoin BSC to the Binance Feed and shortly after its launch, it passed $1.3 million in an incredible pre-sale.
The success of the pre-sale shows the increased interest of investors to collect these tokens before a possible price increase. It is likely to go on sale in the coming weeks as more investors take advantage of its affordability.
But remember that this project has nothing to do with Bitcoin or its developers. Instead , it is included in the BNB Smart Chain, which benefits from security and low transaction fees .
Wall Street Memes (WSM) - Biggest Memecoin Revolution in 2023
Wall Street Memes is a popular memecoin project that aims to reward retail traders and give them an edge in the cryptocurrency market.
Users can use unlimited memes to interact and promote the fun spirit of the WSM community while earning incredible income.
In less than two weeks, the WSM pre-sale preparations are underway!
WSM is in the pre-sale stage, with only 13 days left to complete the pre-sale before listing on the Tier 1 exchange. More than $25 million has been raised as investors enter the final phase of the token pool. get started
At this stage, each WSM token is worth USD 0.337 and given its widespread adoption in the cryptocurrency community, a minimum price target of USD 1 seems realistic after the listing, which rewards early investors.
After connecting a secure and supported wallet to the actual sales page, users can buy WSM tokens for any ETH, USDT or BNB. Direct purchases with bank cards are also supported.
Takenomics and staking
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The maximum supply of WSM is limited to 2 billion. According to the taxonomy, 50% of the supply is for marketing, 30% for community rewards, 10% for CEX liquidity and 10% for DEX liquidity.
WSM supports buy and bid functions to reward users and control inflation in its ecosystem. Users can stake their tokens in WSM betting pools to earn rewards. These rewards are calculated based on the user's share of the pool.
As of September 13 , more than 319 million tokens have been placed with a 63% APY, which is 5-10% better than the industry average . The stake feature also preserves the long-term value of WSM tokens and prevents funders from dumping the tokens after listing.
Wall St NFTs Bulls Gain Momentum.
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Wall St Bulls is the Wall Street Memes project's NFT collection of over 10,000 unique NFTs hosted on the Ethereum blockchain.
Wall St. Bulls give NFT holders membership in the future options market. In addition, Wall St Bulls NFT holders give users access to WSM's other free NFT collections, such as Wall Street Apprentices and Wall Street Assets.
With over 3,000 owners and a total of 1,875 ETH, the NFT collection attracted the interest of the cryptocurrency community to the project.
Cryptoanalyst Joe Parris called WSM the next 100x memcoin in a Crypto YouTube video. Investors should act quickly to take advantage of the sale before it ends.
Interesting WSM guide
WSM has an attractive rewards program for its users. The first phase includes smart contract development, community building, branding, marketing and commerce. The second phase includes token issuance, partnerships, token listing, exchange listing and awareness campaign .
The third phase will open a closed WSM community where users will be able to access exclusive updates and interactive features. Ultimately, WSM aims to reach a market capitalization of $1 billion, which will provide huge returns to its early backers.
outcome
During the last 24 hours, there are more positive predictions in the cryptocurrency market, which is reflected in the prices of several cryptocurrencies. Additionally, Web3-focused cryptocurrency development is becoming increasingly popular and is the driving force behind much of the rapidly growing ecosystem.
Developers and builders are looking for platforms that allow them to realize their projects and offer grants. Additionally, seamless financial services in the DeFi sector often facilitate services-based adoption.
Interestingly, some pre-sales offer investors the opportunity to be the first to join and become interested parties before the price increases. However, investing in cryptocurrencies carries significant risks . Therefore, research and risk management are essential tools for traders.