The global crypto market has retained most of its value in the past 24 hours. Notably, the total market cap remains at $1.3 trillion as buyers continue to dominate this last quarter of 2023.
With the positive outlook of the cryptocurrency market, some assets emerged as the top gainers today, recording impressive gains in the last 24 hours. Notably, some developments in their ecosystem are also sustaining the gains.
FLOKI’s price at 10:01 am EST on October 27 is $0.000036, representing a 10.6% increase in its price in the past 24 hours. Impressively, FLOKI has rallied over the last seven days, gaining 103.1%.
Notably, FLOKI announced the launch of its sister token, TOKENFI, leading to a surge in FLOMI’s price.
FLOKI LAUNCHES TOKENFI (with “TOKEN” ticker) TO CAPITALIZE ON THE TRILLION-DOLLAR TOKENIZATION INDUSTRY
Floki has launched a crypto and asset tokenization platform named @TokenFi to capitalize on the trillion-dollar tokenization industry.
The tokenization industry is projected… pic.twitter.com/lCPo1fUDGp
— FLOKI (@RealFlokiInu) October 26, 2023
On October 26, FLOKI developers announced the launch of TOKENFI, a crypto token with TOKEN as its ticker symbol. The developers aim to benefit from the trillion-dollar tokenization industry.
This tokenization industry is projected to increase to $16 trillion in total value by 2030.
Therefore, TokenFi’s goal is to simplify the crypto and asset tokenization process and become the leading platform for such activities. According to the announcement, trading for $TOKEN will begin on the Uniswap crypto exchange today, October 27.
Notably, TOKEN has its total supply capped at 10 billion tokens split equally between the BSC and Ethereum blockchains. To prevent the dumping of the tokens after its launch, FLOKI developers will limit individual wallets to a maximum of 100 million tokens per wallet.
Additionally, there will be an initial buy or sell transaction tax of 20% within the first hour of its launch. However, after the first hour, this tax will be reduced to 5% and remain for a week till the Floki DAO votes on its retention.
THE FLOKI STAKING PROGRAM
While the TokenFi token will launch by 3 pm UTC tomorrow October 27, 2023, the Floki staking program will launch a few hours after the #TokenFi launch.
— FLOKI (@RealFlokiInu) October 26, 2023
Furthermore, the TokenFi token staking program will launch a few hours after the token launches. This staking launch will provide investors with alternative channels to gain rewards.
The introduction of TOKENFI added value to FLOKI’s ecosystem, boosting its price.
FLOKI Shows Signs Of Retracement From Overbought Zone, Will its Decline?
FLOKI found strong support at $0.0000303, which led to a rally on October 26 for FLOKI. But today, the asset price shows signs of retracement on the daily chart, forming a red candle after it encountered resistance at $0.0000372.
Even though the Relative Strength Index (RSI) indicator displays a value of 81.9 in the overbought zone, it shows signs of a retracement from the overbought zone and will likely retrace in the coming days.
Nevertheless, the Moving Average Convergence/Divergence (MACD) is still above its signal line, displaying a buy signal for the token. Also, the green Histogram bars confirm that accumulation is still ongoing.
However, FLOKI may retrace to the $0.0000303 support in the coming days if the buyers begin to take profits.
NEO traded at $9.08 on October 27, with a 17.1% increase in the last 24 hours. Also, NEO has gained 33.4% in its price in the last seven days, confirming the buyer’s control.
NEO’s founder, Da Hongfei, announced the launch of an EVM-compatible sidechain resistant to market manipulation. This is possibly driving its recent price gain beyond the positive market sentiment.
— Neo Smart Economy (@Neo_Blockchain) October 27, 2023
According to Da Hongfei, the Neo sidechain will ensure security, privacy, and a smooth experience for DeFi users. However, the sidechain is still under development and will likely launch at the end of 2023.
This announcement signals a new dawn in the Neo ecosystem and will attract more users to adopt NEO tokens. On the daily chart, NEO is already in the overbought zone and shows no signs of a retreat.
NEO Likely To Break Above $9.14 Resistance Level
NEO continues to rally on the daily chart today after finding support at $8.13. It has formed two consecutive green candles on the daily chart as buyers dominate the market, supporting the uptrend.
NEO is approaching the $9.14 resistance level, and a break above it will move the asset to $10 in the coming days. Additionally, NEO is trading close to the upper band of the Donchian Channel (DC), confirming the bullish sentiment.
Furthermore, the RSI value is 79.30 in the overbought zone and still rising, confirming that the buyers are in an aggressive accumulation phase. Therefore, NEO will likely break above the $9.14 resistance level in the coming days to trade at $10.
Bitget Token (BGB) – The Native Token Of The Biggest Platform
BGB’s price on October 27 is $0.46, with a 3.0% price increase in the past 24 hours. Additionally, it has rallied by 10% in the last seven days, benefiting from the ongoing market rally.
Bitget’s continuous interest in advancing Bitcoin’s cause is likely leading to a rally in its BGB token price.
🎙️ Join our upcoming Space to celebrate #Bitcoin White Paper Day!
— Bitget (@bitgetglobal) October 27, 2023
The developers announced their celebration of Bitcoin’s Whitepaper Day today, October 27. According to the announcement, there will be a $2000 giveaway for participants who complete simple tasks such as tagging friends.
Notably, Bitget’s status as a reliable crypto exchange and the academy is likely contributing to BGB’s gains in the past week. As such, BGB has displayed impressive price gains on the daily chart as the buyers continue to rally.
BGB Approaching Overbought Region As Buyers Begin To Rally
BGB has formed a fifth consecutive green candle on the daily chart after finding support at the $0.44 resistance level. It is presently testing the $0.46 resistance level, and a break above it will likely push BGB to $0.5.
Also, the Parabolic SAR indicator is below the candlesticks, confirming the rising bullish pressure for the token. Furthermore, the RSI value is 66.9 and rising to the overbought region of 70.
Based on BGB’s trajectory, it will likely break above the $0.46 resistance in the coming days if the buyers sustain their charge.
Meme Kombat (MK) – The Web3-Based Gaming Revolution
— Meme Kombat (@Meme_Kombat) October 27, 2023
Meme Kombat is an exciting and creative Web3-based gaming ecosystem that gives users access to rewards. It combines several popular meme characters locked in a fierce battle for supremacy while users earn rewards by betting on the outcome of these battles.
Also, the MK token is a high-utility cryptocurrency that gives users access to extensive features such as staking and betting in the ecosystem. Notably, some meme coins struggle to find utility and application in practical scenarios, making their speculative investments.
However, crypto gamblers can enjoy access to exciting betting options available in the Meme Kombat ecosystem. MK tokens are on presale, with over $772,000 raised from the target of $1 million in the first stage.
Each MK token is worth $0.1667 at this presale stage, and investors must act fast ahead of a price increase in less than a week.
Also, users can purchase MK tokens using ETH or USDT and link their crypto wallets to the official website. Alternatively, this purchase can be completed on the BSC blockchain, although all token claims will be on Ethereum.
How Investors Benefit From Meme Kombat
Meme Kombat focuses on rewarding its community with an innovative staking mechanism available from the presale.
Notably, purchased tokens are automatically locked in a staking contract for additional rewards for users. Also, a portion of these staked tokens can be allocated to betting for additional rewards. MK holders can bet on various game modes for extra rewards, such as MK tokens.
According to the developers, the Meme Kombat Season 1 will feature 11 memes, all competing for the number one spot. Additionally, the platform relies on advanced Artificial Intelligence (AI) to execute gameplay transparently and securely.
Meme Kombat Reviews
Can’t believe we made it into @BuryCrypto‘s top 5 crypto to buy right now, and number 4 no less🔥
Believe in Kombat frens💪
— Meme Kombat (@Meme_Kombat) October 26, 2023
Meme Kombat’s potential is drawing more investors rapidly to join the community. Crypto analyst Jacob Crypto Bury listed MK tokens among his top 5 cryptocurrencies to buy now, with the developers reacting to the video.
Also, news outlet Insidebitcoins.com called it the next big crypto-gaming ecosystem based on its automated battles, staking, and wagering.
According to its Tokenomics, Meme Kombat has its supply capped at 120 million tokens, with 60 million available for the presale. This presale allocation will help to secure initial capital generation, community-building efforts, and market establishment.
Furthermore, 30% of the total supply is dedicated to staking and battle rewards in the ecosystem to incentivize participation and engagement. Notably, Meme Kombat is fully audited by Coinsult to assure users of its reliability and long-term potential.
According to the exciting roadmap, after the presale stage, the platform’s launch is expected between October and November 2023. However, this is dependent on whether all presale tokens are sold out.
The Season 1 of Meme Kombat will begin immediately after the platform launch and hopefully attract community engagement.
Also, Season 2 of Meme Kombat gameplay is expected by December 2023. In the future, Meme Kombat will focus on continuous upgrades, community engagement, and expansion plans.
Based on its utility, Meme Kombat will likely record massive gains when it lists on notable exchanges for trading.
Bitcoin Minetrix (BTCMTX)- The Affordable And Reliable Mining Solution
By eradicating the risks of third-party cloud mining scams, it grants users full authority over their mining operations. pic.twitter.com/BXhbDQkO0I
— Bitcoinminetrix (@bitcoinminetrix) October 25, 2023
Bitcoin Minetrix is an eco-friendly solution for miners introducing the Stake-to-Mine concept. The ultimate goal is to create a safe and profitable mining ecosystem where miners can rent cloud computing power to make a profit.
Cloud Mining Replacing the Original Model of Bitcoin Mining
Cloud mining gives users practical solutions to tackle the rising complaints about the side effects of Bitcoin mining. The traditional mining models require expensive equipment such as the Antminer.
Also, mining is quite energy-intensive and produces electrical waste. Therefore, it is limited in some regions.
Remarkably, cloud mining provides an alternative for miners to make a profit without the rigors of mining costs and taxes. However, some unreliable organizations have carried out several scams, while others require miners to sign binding contracts.
Nevertheless, Bitcoin Minetrix offers miners a practical solution to overcome challenges with the previous models. Miners can take advantage of the Stake-to-Mine mechanism, which lowers the level of entry for miners.
Therefore, users need an Ethereum-compatible wallet like MetaMask to buy and take BTCMTX, the utility token. Staking BTCMTX tokens gives traders access to non-tradable ERC-20 token credits that must be burnt to receive cloud mining power.
Join BTCMTX Presale To Enjoy Profitable Cloud Mining
Celebrating another achievement at #BitcoinMinetrix!
Surpassing the $2,400,000 mark! 🎉 pic.twitter.com/zDmc7wlKAs
— Bitcoinminetrix (@bitcoinminetrix) October 27, 2023
BTXMTX is on presale, granting investors the opportunity to accumulate the tokens for smooth mining operations. With a few hours left to a potential price surge, each token is worth $0.0112 at this stage.
According to a post from the Bitcoin Minetrix developers on Twitter, it offers users a simple path to cloud mining. Other benefits include ease of entry for beginners, smooth upgrades, and cost-effectiveness.
Also, over $2.46 million has been raised out of the target of $3.10 million at this stage. More interested users can easily purchase these tokens by linking their Ethereum-compatible wallets to the official website.
ETH, USDT, or bank cards are convenient options to complete the purchase and secure the BTCMTX tokens.
Bitcoin Minetrix’s Reviews
— Joe Parys (@JoeParys) October 13, 2023
According to a crypto analyst on Twitter, Joe Parys, Bitcoin Minetrix has huge potential to reward investors. Also, he noted that new cryptocurrencies have the potential to pump more than older ones but carry significant risks.
Furthermore, Parys talked about the ongoing $30,000 Minedrop, the roadmap, and the exciting tokenomics. Similarly, YouTube vlogger Jacob Crypto Bury tagged BTCMX as the new potential 10x cryptocurrency.
However, he urged his followers to research the project themselves to see if it was worth investing in.
According to the roadmap, after the presale, the focus will move to platform development and eventual listing on top exchanges. Also, at some point, the Stake-to-Mine platform will go live to public investors, which will likely increase the demand for BTCMTX and its price.
Overall, based on utility, BTCMTX might enjoy long-term success since it focuses on Bitcoin mining solutions. Therefore, investors can use the present presale price to accumulate the tokens before another price increase in the next stage.
The crypto market has remained in an uptrend after the speculation of an eventual Bitcoin ETF approval began. However, if the U.S. SEC opposes the approval of this ETF, a major retracement could occur in the coming weeks.
Notably, most traders are accumulating cryptocurrencies ahead of Bitcoin’s halving in April 2023 and a possible bull run. However, there are no certainties in the crypto market, and all trading comes with associated risk; therefore, proper research is advised.