News

AI Tokens Capitalize on Market Optimism as $BTC Surpasses $65,000

Published

3 months ago

7 May, 2024

AI Tokens Capitalize on Market Optimism as $BTC Surpasses $65,000

Cryptocurrency Price Prediction: The first week of May was particularly bullish for the cryptocurrency market after the Bitcoin price recovery from $56500 to $65223. The recent increase in buying interest for US-listed companies Bitcoin ETFs played a significant role in the latest rally, simultaneously boosting the altcoin market as it recovered from previous losses.

Amidst the current rallying sentiment, AI tokens were among the biggest gainers today, accentuating their ability to offer rapid moves across a new range of market dynamics. According to Coinmarketcap, the main assets of this sector reached 37.9% billion, expecting an intraday gain of 7.3%.

Over the past 24 hours, major AI tokens such as Graph (GRT), Fetch.AI (FET), and SingularityNet (AGIX) have shown double digital gains providing new long opportunities for momentum traders.

1) Graph (TSL)

Graph (GRT)| Tradingview

The graph (GRT) is a decentralized, open-source indexing protocol for blockchain data, allowing applications to query networks like Ethereum with the speed and efficiency of a traditional database.

GRT, the native cryptocurrency of the Graph network, has been on a bullish streak over the past six days, showing a price jump from $0.22 to $0.3 with a record increase of 36%. The recovery took the chart’s market capitalization to $2.83, while the 24-hour trading volume was recorded at $152.8 million.

The rising price of GRT recently violated the descending trend line which brought with it an active correction trend since early March. If the breakout persists, buyers could trigger a rally towards the potential target of $0.35, followed by $0.428 and $0.49.

2) Fetch.ai (FET)

Fetch.ai (FET)| Tradingview

Recover.ai is a blockchain-based platform that aims to revolutionize the way digital economies and data-driven markets work through the use of artificial intelligence (AI) and machine learning (ML).

In the context of recent market consolidation, the FET Price managed to hold support above $1.85, developing a local bottom on the daily chart. A bullish reversal from this base increased the coin’s value by 30% and revealed the formation of a double bottom reversal pattern that signals the potential for a higher rally.

As of this writing, the Fetch.ai token is trading at $2.4 and has a market capitalization of $2.03 billion. With sustained buying, the FET price is expected to rise another 10% and break the neckline resistance at $2.64.

This breakout could accelerate the buying momentum and push the FET price to $2.85, followed by $3.48.

3) SingularityNET (AGIX)

SingularityNET (AGIX)| Tradingview

SingularityNET is a decentralized platform designed to facilitate the creation, sharing and monetization of artificial intelligence (AI) services at scale. In the context of the current market recovery, the AGIX price showed a new higher low at $0.756 last Wednesday, projecting an initial signal of a trend reversal.

The bullish reversal resulting from the aforementioned support pushed the altcoin’s value 32.4% to currently trade at $1,002. The market capitalization of the SingularityNET coin stands at $1.28 billion, while the 24-hour trading volume is recorded at $141.2 million.

If the bullish momentum persists, the coin price is ready to break the immediate resistance of $1.07. A successful breakout above this latest swing high will give better confirmation of AGIX’s recovery targeting a potential target of $1.26, followed by $1.46.

Key takeaway

Market sentiment in the cryptocurrency market is gradually improving as the price of Bitcoin has shown notable growth this week, returning above $65,000. The upward momentum in BTC price, breaking the key resistance level, directs the market momentum towards the expected post-halving rally.

In the context of this recovery, most major altcoins, especially fast-moving asset classes such as AI tokens and Meme cryptocurrencies, offer rapid movements in the short term.

Fuente

News

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

Published

2 hours ago

27 July, 2024

TokenTalk Staff

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

The Turkish cryptocurrency market has seen significant growth in recent years. Currently, more than half of the population invests in cryptocurrencies, according to surveys and polls.

This is evident from the fact that the Turkish Lira (TRY) is the fourth most used fiat currency in cryptocurrencies. Several macroeconomic factors are fueling this crypto adoption in the country. Therefore, stablecoins and meme coins have emerged as the favorites of Turkish investors, even surpassing Bitcoin.

Stablecoins and meme coins dominate Turkish trade

According to the latest relationship According to Kaiko, Turkey’s inflationary conditions have significantly increased stablecoin usage in recent years. In 2024, the research firm found that USDT-TRY dominates as the largest trading pair by volume on Binance, reaching over $22 billion, more than five times larger than the next largest pair, PEPE-USDT, which has $4 billion.

Notably, meme tokens have surpassed Bitcoin in terms of trading volume this year, indicating that Turkish traders are also turning to more speculative cryptocurrencies to hedge against currency fluctuations and make profits.

The increased usage of stablecoins is further reflected in the main Bitcoin trading pairs on BTCTurk, which are BTC-USDT and BTC-TRY.

One of the main reasons driving the adoption of cryptocurrencies is Turkey’s fight against double-digit inflation and the currency devaluation for years, with an average inflation rate above 40% over the past five years. In response, the central bank adopted an unorthodox monetary policy, cutting rates until June 2023. However, this worsened the devaluation of the Turkish lira, which lost more than 300% of its value from the end of 2020 to the end of 2023.

Turkey’s decision to normalize its monetary policy after the 2023 elections failed to restore confidence in the TRY, whose value continued to decline in 2024, albeit less rapidly.

Binance Sees Strong Expansion in Türkiye

Amid economic challenges, Binance has strengthened its position as one of the two largest trading platforms for Turkish traders, thanks to deep liquidity and low fees. As part of a large-scale zero-fee campaign, it offered zero fees for BTC-TRY trading between July 2022 and March 2023.

Offering a wide range of TRY-denominated trading pairs and aggressively adding new pairs in recent years have helped Binance maintain its leadership in the country despite the 2022 cryptocurrency bear market. Binance introduced 61 new TRY trading pairs in 2024 alone, bringing the total number to over 200.

Other exchanges, such as Gate.io, KuCoin, and OKX, have jumped into the Turkish crypto ecosystem, but their overall market share remains less than 1%.

Fuente

News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

4 hours ago

27 July, 2024

TokenTalk Staff

Coinpedia - Fintech & Cryptocurreny News Media

With the US presidential election fast approaching, the cryptocurrency world is buzzing with new trends. In addition to the well-known cartoon-themed meme coins, a new category is making waves: PolitiFi tokens. Did you see that coming?

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!

1. Trump (Magazine)

Launched about a year ago, the Trump-themed MAGA token has caused quite a stir in the cryptocurrency ecosystem. Inspired by Donald Trump’s slogan “Make America Great Again,” the MAGA token has produced an astonishing 35 million percent return since its inception. Currently trading at $5.65, it has fallen 8.80 percent in the past 24 hours.

Despite this, the token’s trading volume increased by 23.23%, bringing its market cap to $248 million and securing the 220th spot on CoinMarketCap.

Source: Dexscreener

2. MAGA (MAGA)

Another token with the same ticker, MAGA, is also trending in the PolitiFi category. With 390 billion tokens in circulation, this MAGA token has seen a 11.08% price drop over the past 24 hours, but an 81.39% increase in trading volume. Currently trading at $0.0001337, it is ranked 21st on Dexscreener’s trending list and 522nd on CoinMarketCap. Despite being only two months old, it has provided early adopters with a remarkable profit of 313,373.62% at its all-time high of $0.0007354.

Source: Dexscreener

3. Super Trump Coin (STRUMP)

Super Trump Coin, a meme token depicting Donald Trump as Superman, has a circulating supply of 1.8 billion tokens. Over the past 24 hours, its trading volume has increased by 39.88%. Currently trading at $0.01112, it has dropped by 6.07% over the past 24 hours, but holds a CoinMarketCap rating of 776. From its all-time high of $0.03085, it has dropped by 64.06%. Despite this, its impressive short-term returns have made it a favorite among Trump crypto enthusiasts.

Source: Dexscreener

4. MAGA Vice President (MVP)

Launched just four months ago, MAGA VP has yet to break into the top 1000 cryptocurrencies on CoinMarketCap, currently ranked 1231st. With a value of $0.128, its trading volume has increased by 21.79% over the past 24 hours, with a market cap of $5.3 million. While it is up 110% at its current price, it is down 83.24% from its all-time high of $0.7706.

Source: Dexscreener

5. Little Trump

One of the most unique Trump-themed tokens is Baby Trump, which depicts Donald Trump as a baby president. With a circulating supply of 406 million tokens, it has a market cap of $3.5 million at a trading price of $0.008616. Although its price has dropped 9.45% in the last 24 hours, its trading volume has increased by 4.29%. At its peak, Baby Trump’s market cap was $11 million.

Notably, Baby Trump is the only token among the five analyzed to be based on the BNB Smart Chain, while the others are based on the Ethereum network.

Source: Dexscreener

It’s an exciting time for cryptocurrencies

The current political climate in the United States is spawning a new wave of meme tokens themed around various political figures. Among them, Trump-themed PolitiFi tokens are experiencing the most significant surge in popularity. Support for Donald Trump in the crypto community seems to be a driving force behind the success of these tokens.

Do you think Trump-themed PolitiFi tokens are here to stay or just a passing trend? Share your thoughts.

Fuente

News

Brett Token Price Soars 12%; Analyst Expects Further 30% Upside

Published

5 hours ago

27 July, 2024

TokenTalk Staff

Eight altcoins rally 10+% as volatility swings market

Brett, the largest meme coin in Blockchain Base, rose more than 12% on Friday, as sentiment in the cryptocurrency and stock sectors improved.

Brett (BRETT) the token rose to $0.133, up 31% from its low this month. Some traders believe the meme coin has more upside potential in the future.

Analyst is bullish on Brett

In an X-post, Michael van de Poppe, a trader with over 721,000 followers, said he is optimistic that the token will rise to $0.1712, up 30% from Friday’s trading level.

I’ve been a day trader for a long time and memes are a great way to gain that perspective.

Lots of volume.
And there’s a lot of volatility.

When it comes to $BRETTI would look for long positions in this area between $0.125-0.1325 and $0.170 as a clear identification of a potential bull run. photo.twitter.com/hWmSjCZGJa

— Michaël van de Poppe (@CryptoMichNL) July 26, 2024

If he is right, Brett’s market cap will surpass Floki’s (FLOKI), which has a market capitalization of $1.7 billion.

Brett’s bounce came at the start of the Bitcoin 2024 conference today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he is a big supporter of Bitcoin (BTC).

The main protagonist of the event will be Donald Trump, leading in most polls, included in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are divided on whether he will announce a Bitcoin reserve at this event.

Blockchain Base is doing well

Brett token also recovered as Base blockchain ecosystems continued to perform well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the sixth largest chain in the industry. It has surpassed popular networks like Cardano (ADA), Avalanche (AVAILABLE) and Polygon (MATIC).

At the same time, Brett and other altcoins jumped as the U.S. stock market rebounded, signaling that investors have embraced risk-on sentiment. The Dow Jones Industrial Average rose more than 600 points, while the S&P 500 and Nasdaq 100 jumped more than 80 basis points.

Brett Price

Brett Price Chart | Source: Trading View

Technically, Brett formed a morning star pattern, which is a popular reversal sign. In the past, the coin has risen by double digits when it has formed this pattern. For example, it formed on July 12 and then rose by 40%.

On the other hand, this bounce could be a dead cat bounce, where an asset briefly rises and then resumes its downtrend.

Fuente

News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

6 hours ago

27 July, 2024

TokenTalk Staff

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!