The global crypto market remains in an uptrend today, with Bitcoin leading the altcoins and meme coins to rally. As the 2024 halving approaches, the crypto market seems to post its most favorable price performance in 2023.
Notably, Bitcoin has remained above the $34,000 support, providing stability for the market as investors’ confidence increases. The top gainers of today seek to consolidate these gains supported by exciting developments within their ecosystem.
Find the top gainers listed below and their possible price outlook in the coming days.
THORChain (RUNE) – The Streaming Swaps Ecosystem
RUNE’s price on October 31, at 2:51 pm EST, is $2.87, with a 6.3% increase in the past 24 hours. Also, it had gained 34.3% on its price in the last 24 hours.
THORChain’s positive report earlier in October continues to support its price gains after the launch of its Streaming Swap service.
With Q3 at a close, a report detailing the quarterly progress of the @THORChain core protocol has been published ⚡️
Lending, Streaming Swaps, & much more shipped🚢
Total Volume: $2.38b
Liquidity fees collected: $3.38m
Read the full report on Medium: https://t.co/tvlO7VAxgG
— THORChain (@THORChain) October 4, 2023
According to the report, the total transaction volume recorded was approximately $2.38 billion. Also, the liquidity fees collected amounted to $3.38 million. THORChain can comfortably help its users swap, save, and borrow using its lending protocol.
Remarkably, this protocol has no interest or expiration, and the launch of Streaming Swaps now makes THORChain one of the top DeFi ecosystems.
Furthermore, Streaming Swaps enable large swaps to be automatically split into multiple swaps for best results.
Also, trading fees remained relatively affordable, attracting more investors to the ecosystem. This effect is evident on the daily chart, with RUNE rallying as it approaches $3.
RUNE Approaches $3. Will It Overcome Its Nearest Resistance?
RUNE is in an uptrend on the daily chart, finding critical support at $2.50 as the bulls continue to push an uptrend. It is trading close to the $2.89 resistance level, and a break above it will likely move RUNE to the $3 price level.
The Relative Strength Index (RSI) confirms this bullish trend with a value of 81.35, rising to the overbought region above 70. This confirms the buyers’ dominance on its price and their relentless pursuit to attain $3 in the coming days.
Furthermore, the Moving Average Convergence/Divergence (MACD) indicator is above its signal line, confirming a buy signal. The green Histogram bars imply that the buyers will continue accumulating RUNE tokens.
Although RUNE is already in the overbought region, based on these indicators, it will likely rally to $3 if a rejection does not occur at the $2.89 price level in the coming days.
BitTorrent (BTT) – The Internet Builders For Blockchain Users
BTT trades at $0.00000047 on October 31, at 2:52 pm EST, with a 4.65 increase in the last 24 hours. Also, it has gained 18.2% on its price in the last 7 days.
Notably, BitTorrent introduced Web PRO, adding more utility to their ecosystem and attracting massive interest from investors.
📢We want to introduce our renewed product to you all:
🔥#BitTorrent Web PRO!🔥
⚡️#BitTorrent Web Pro aims to redefine your torrenting experience, it provides:
✅Integrated AV Scanning for Enhanced Security
✅Ad-Free Interface, Stream Without Distractions
— BitTorrent (@BitTorrent) October 31, 2023
According to a Medium post, BitTorrent Web Pro is a new and improved version that will reveal advanced features for an improved user experience. The main focus is on torrenting to give internet users a more satisfying experience. Also, one of the new features is the anti-virus scanning available to users.
Notably, no additional plug-ins are needed to utilize this service. Also, users can easily assess the potential risk of viruses in torrent files before streaming. Therefore, anti-virus scanning will offer users insights in real-time for more security.
Additionally, annoying Ads will not be displayed with the Ad-free interface; thus, users can enjoy their downloads. Meanwhile, there is premium support for BitTorrent Web Pro users who pay a subscription fee to enjoy this service.
Despite this remarkable development, BTT shows signs of retracement on the daily chart. However, this retracement could be due to investors taking profit ahead of another accumulation phase.
BTT Buyers Show Signs Of Slowing Accumulation As RSI Dips
BTT formed a Maribozu candlestick pattern on October 30, confirming the bullish influence on its price. However, it has formed a red candle today, suggesting a possible rejection at the $0.00000051 resistance level.
Although the $0.00000044 support level upheld BTT’s gains on October 30, it is likely its next price destination as the buyers begin to take profit. Also, BTT is descending to approach the Median Band if the Donchian Channel (DC) confirms a return of the sellers for the asset.
Meanwhile, the RSI indicator is also declining. Although it still displays a value above 70-, the sharp correction of the RSI confirms a steady decline back into the channel.
Therefore, BTT will likely drop to the $0.00000044 support in the coming days if the buyers continue to make a profit.
Solana (SOL) The Utility Ecosystem With Future Potential
SOL’s price on October 3, at 2:54 pm EST, is $36.29, with a 3.9% increase in the past 24 hours. Also, it is up by 18% in the last seven days. Solana developers have continued to prove why they are a force to reckon with in the crypto development sphere, thereby attracting more investors.
Remarkably, Solana is hosting an event tagged Breaking Point that is sending a positive ripple effect in the crypto community. This event aims to position Solana as a preferred investor’s destination based on its utility.
Notably, one of the updates from the event is that Solana nodes are now available for deployment on Amazon Web services.
This partnership with global giant Amazon will likely lead to explosive growth in Solana’s ecosystem. Signs of this growth are already evident on the daily chart as Solana flips all its close resistance levels as the buyers target $40.
Therefore, SOL is well positioned to end 2023 on a high despite earlier challenges at its inception. Additionally, its relatively affordable price makes it quite attractive to investors.
SOL Approaches $40 As Buyers Exert Dominance
SOL buyers show aggression in the ongoing accumulation phase, smashing past the $33.02 resistance level and flipping it to support. The October candle is testing the $36.5 price level, and a break above it will likely force a rally to $40.
Remarkably, SOL is already in the oversold region above 70, evident from the RSI’s value at 79.4 and still rising as the buyers continue to exert dominance. Furthermore, the MACD is above its signal line and still displays a strong buy signal.
Also, this buy signal is confirmed by the green Histogram bars as the buyers show their dominance. Based on these bullish sentiments, SOL will likely break above the $36.5 resistance level in the coming days to rise to $40 if the bulls sustain their charge.
Bitcoin Minetrix (BTCMTX) – The Cloud Mining Solution That Works
Bitcoin Minetrix is an innovative and eco-friendly cloud mining solution that seeks to make mining easier for Bitcoin miners. Smart contracts are used to automate and regulate a novel stake-to-mine method.
To free mining hash power, it also supports token burning and staking on the Ethereum network.
Another great milestone unlocked by #BitcoinMinetrix!
More than $2,800,000 raised! 🪙 pic.twitter.com/PoH28Wjd7x
— Bitcoinminetrix (@bitcoinminetrix) October 31, 2023
It’s amazing how mining has changed since the beginning of Bitcoin, getting harder with each halving. The Bitcoin Minetrix whitepaper further states that a $12 billion growth in the BTC mining sector is projected to occur between 2022 and 2027.
Thus, Bitcoin Minetrix provides consumers with dependable cloud mining options to gain on this substantial market capitalization. Cloud mining eliminates the requirement for miners to invest in costly technology and electricity.
Unlike other cloud mining companies, users can rent a portion of computing power securely without having to sign a contract. Reducing mining-related heat, noise pollution, and electrical waste is another advantage of cloud mining.
However, the majority of people who want to participate in cloud mining are concerned about dishonest individuals.
Why Bitcoin Minetrix?
With the help of Bitcoin Minetrix, users can buy BTCMTX tokens during the presale, stake the tokens, and get hash power. Credits from mining are also necessary for this procedure. Staking BTCMTX coins yields these credits, which are non-transferable ERC-20 tokens.
Also, to obtain cloud mining time in Bitcoin or a portion of mining profits, these mining credits must be burned. The entire quantity of BTCMTX tokens is limited to 4 billion tokens, based on the tokenomics.
Notably, 42.5% goes toward mining Bitcoin, 35% goes toward marketing, 15% goes toward the community, and 7.5% goes toward staking activities.
BTCMTX is still on presale with just one day left before its price increases, giving early investors paper gains. Each token currently costs $0.0113 and can be acquired with bank cards, ETH, or USDT.
To make this purchase, a user must connect a safe cryptocurrency wallet to the official website.
Out of the $3.38 million presale target, over $2.88 million has been raised thus far, indicating the growing interest in Bitcoin Minetrix’s mining solution throughout the cryptocurrency community.
Furthermore, 10 fortunate winners of the $30,000 Minedrop being held by Bitcoin Minetrix will each earn $ 3,000 in BTCMTX.
These users must, however, fulfill several requirements, one of which is providing proof of purchase for BTCMTX tokens. Interested investors should act now before the next price hike.
Meme Kombat (MK) – The Gamers Hub For Rewards
Meme Kombat is a contemporary cryptocurrency project that skillfully blends the excitement of combat with the humorous aspects of cryptocurrency memes. It makes use of Ethereum’s Artificial Intelligence (AI) network to give players a distinctive and captivating experience.
The $MK presale has passed $900k raised🙌
LFG fighters! We are so back! pic.twitter.com/Wb4Wi3T78c
— Meme Kombat (@Meme_Kombat) October 31, 2023
An essential component of the ecosystem that allows players and stakeholders to engage and contribute is $MK, the utility token. Additionally, holders of $MK gain access to battles, staking, and wagering, which increases their value
Pre-sale $MK coins are currently valued at $0.1667 apiece. Notably, on November 2, there will be a price increase to $0.1833, so investors need to move quickly to avoid this. Through the official website, users can link a safe cryptocurrency wallet and buy $MK tokens.
They can also select from the available payment methods, which include USDT and ETH. Meme Kombat facilitates purchases from the BSC blockchain in the meantime.
Tokens must all be transferred to Ethereum, to be claimed eventually after the presales.
Remarkably, the presale has surpassed $968,000 and is getting closer to the $1 million target. Meme Kombat’s ecosystem is attracting more and more investors, thus, it’s probable that it will soon reach its $10 million hard cap.
Stake For Extra Rewards
Meme Kombat’s safe staking feature offers consumers a buffer against inflation. As a result, every token acquired during the presales is immediately staked to earn more prizes.
In the future, Meme Kombat will also introduce a staking dashboard so that players can keep an eye on their payouts and tokens. The distribution of these incentives is determined by the user’s stake in the pool as well as the current APY value.
To be able to claim their staking benefits, each wallet must re-stake all of its tokens for at least one locking period following the presale. Every holder will also be able to claim and stake their $MK tokens in the official staking pool after the MK Dapp launches.
Additionally, users can allocate some of their tokens for wagering on battles, allowing for staking for betting. So, to earn additional benefits, these staked tokens can also be used in a variety of betting modes, including player versus game and direct betting.
Betting Likely To Dominate The Crypto Sector
New week. New possibilities.
Gonna be a big one for Meme Kombat as we approach $900k in presale💪 pic.twitter.com/IrItVNW1Fu
— Meme Kombat (@Meme_Kombat) October 30, 2023
Additionally, Meme Kombat provides gamers with an engaging array of AI-powered bouts between meme avatars. Users have the option of directly engaging in combat or placing indirect bets to support results.
One feature that allows players to compete directly with one another is the player vs. player mode.
Before engaging in battle, a user can also assess the stakes and degree of danger involved. 10% of the 120 million MK token supply, according to tokenomics, is set aside for community awards.
This should increase the ecosystem’s investment base and increase MK’s long-term worth in the cryptocurrency market.
The crypto market continues the ongoing accumulation phase, with investors taking advantage of the volatility to make a profit. Although these gains are built on speculation, the market seems to enjoy a degree of stability based on Bitcoin’s resurgence.
However, regulatory issues in the industry remain a concern, combined with price volatility that remains constant. Therefore, investors are advised to conduct proper research before delving into crypto trading.
Also, risk management techniques such as trailing stop loss could be vital for bull markets in the event of a sudden correction.