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Why are Ripple and Solana rising amid this market decline? New Altcoin KangaMoon Raises $6 Million

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Why are Ripple and Solana rising amid this market decline?  New Altcoin KangaMoon Raises $6 Million

Despite a market slowdown, Ripple and Solana continue to rise in value while a new altcoin, KangaMoon, gains $6 million during its ongoing presale.

During the crypto market decline, two altcoins saw numerous developments that drove the price higher: Ripple (XRP) and Solana (SOL). In addition to this, a new altcoin called KangaMoon (KANG) has also made waves in this space. This Stage 5 pre-sale star has secured over $6 million so far. Many analysts suggest that KANG could become the next $1 altcoin in 2024. Let’s see why.

Ripple Crypto Surge and Direct Lending Proposal

Even though the crypto market is down, Ripple (XRP) has shown some resilience. Among the many things driving Ripple’s continued growth is the idea of ​​implementing direct lending on the XRP Ledger. According to RippleXthis lending protocol will provide simplicity and a modular and flexible design.

Over the past year, Ripple coin has seen a rise of 12.29%. Ripple’s market capitalization stood at $28.81 billion during this period. Experts remain optimistic, as seven technical indicators are flashing green for this altcoin. They predict a potential rise to $0.66 for Ripple before the end of Q2 2024.

Solana-Bitcoin Bridge Gets Release Window

Solana’s (SOL) strong ecosystem and growing adoption have driven its price higher amid general market volatility. Zeus Network announced a cross-chain bridge between Solana and Bitcoin named Zeus Program Library, which will be launched in the third quarter of 2024. This development also contributed to the bullish case for the Solana coin.

The price of this altcoin surged 520% ​​with a market capitalization of $61.62 billion. With eleven technical indicators in Solana’s buy zone, market analysts are confident in its long-term growth potential. They predict a rise to $177 for Solana in the second quarter of 2024.

KangaMoon (KANG) Presale Expected to Reach $7 Million

Amidst all this market madness, KangaMoon (KANG) is a new altcoin that has attracted a lot of attention from traders. The project’s presale raised $6 million, an impressive feat that shows people are interested in this altcoin. It could even reach $7 million before the end of May 2024.

Essentially, KangaMoon is tapping into the thriving Play-to-Earn (P2E) gaming market, which is expected to reach $885 million by 2028. It will do this by creating its own P2E game. In this game, you can use the KANG token as your in-game currency. With this altcoin, you can purchase in-game items and upgrade your characters.

What makes KangaMoon one of the best altcoins is its community focus. For example, KangaMoon is now offering free KANG tokens to its most active community members. So, more than 20,000 registered community members are now rushing to like/share/comment on KangaMoon’s posts on social media.

Currently, this altcoin is worth $0.0196 in stage 5 of its presale, a 290% jump from its starting price of $0.005. More than 6,000 people now hold KANG and demand is strong. Experts predict a potential increase to $1 once a Tier 1 CEX lists KANG in the second quarter of 2024. This makes KANG one of the best altcoins around.

What sets KangaMoon apart from Ripple and Solana?

KangaMoon’s market capitalization is only $19.6 million, which differs from Ripple and Solana. This means that there could be a rapid increase in prices if the inflow of new funds is relatively small. With this advantage, KANG could dominate the altcoin space. If you want one of the best altcoins, sign up for its presale and get a 10% bonus on every purchase.

Discover the exciting opportunities of the KangaMoon (KANG) presale today!

Website: https://Kangamoon.com/

Join our Telegram community: https://t.me/Kangamoonofficial

Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials of this page. The project team purchased this promotional item for $360. Readers should do their own research before taking any action related to the company. BSC.News is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned in the press release.



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Altcoins

Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

TokenTalk Staff

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Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

Kitco NEWS has a diverse team of journalists who cover the economy, stock markets, commodities, cryptocurrencies, mining and metals accurately and objectively. Our goal is to help people make informed market decisions through in-depth reports, daily market summaries, interviews with leading industry figures, comprehensive (often exclusive) coverage of important industry events and analyzes of developments affecting the market.

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Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

TokenTalk Staff

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Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

An Analyst Who Accurately Called the 2022 Crypto Collapse Becomes Bullish on Solana (GROUND) and rendering (RNDR).

Analyst pseudonym Capo tell its 90,280 Telegram subscribers than Ethereum (ETH)-rival Solana and RNDR, the graphics processing unit (GPU) rendering blockchain, are likely in an uptrend.

“Added more to the long SOL and RNDR.”

Solana is trading at $133 at the time of writing, down almost 7% in the last 24 hours. Meanwhile, RNDR is trading at $7.17 at the time of writing, down 10% in the last 24 hours.

The analyst also monitors the OTHERS three-day chart, which tracks the total crypto market capitalization excluding the 10 largest digital assets and stablecoins, for signs of a rebound.

“Altcoins: the green zone is support but we should see a rebound soon. If green holds, then we should expect movement towards the red zones (T1 and T2). If green doesn’t hold, then blue. Judging by sentiment and indicators, I think the bullish scenario is more likely.

Source: Capo/Telegram

OTHERS is valued at $219.25 billion at the time of writing, down more than 7% in the last 24 hours.

Then the trader says that ETH against Bitcoin (BTC) could be preparing for an escape.

“ETH/BTC: This looks bullish.”

Source: Capo/Telegram

Looking at his chart, the analyst suggests that ETH/BTC could soon reach 0.065 BTC ($4,196). ETH/BTC is trading at 0.0532 BTC ($3,442) at the time of writing, up slightly over the past 24 hours.

Finally, the analyst claims that the bottom could be reached for the crypto market and predicts that a breakout is coming.

“The market has reached its lowest level again. BTC is holding above $65,000, but alts are suffering much more. It’s like that. Overall, it looks like local background training. Too negative sentiment and financing, filled offers and everything is very oversold. I still expect a strong rebound.

Bitcoin is trading at $64,661 at the time of writing, down 2.5% in the last 24 hours.

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Altcoins

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Altcoin selloff wipes out $4.9 billion in DeFi TVL

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Main Reasons Behind Altcoin’s Recent Flash Crash

TokenTalk Staff

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Renowned crypto researcher identified top altcoins with 10x to 100x return potential

Analyst Connor Kenny finally answered the question that was on everyone’s mind: why did altcoins fall so sharply in this market? What is happening with Bitcoin and is there still an opportunity to capitalize on?

He explained that Bitcoin recently reached its lower support level, which is crucial to maintain a bullish outlook. He said that while he seemed overly optimistic to some, he anticipated a bearish scenario that would take Bitcoin back to $60,000.

Altcoin market analysis

For what altcoin dumping and will the bloodbath repeat itself again? Here are some reasons given by the analyst:

Lack of story: In the first quarter, meme coins exploded due to pre-sale hype. Although the meme pieces are still active, the dynamics are not as strong. In the second quarter, real world asset (RWA) coins surged due to BlackRock’s entry into the RWA space. At present, there is no strong case for new liquidity entering the market.

Cryptocurrency search trends: Over the past five years, interest in crypto has declined significantly. Current search volume is very low, indicating that retail investors are largely absent. This absence of new retail investors, while seemingly negative, can be seen as positive as major assets like Bitcoin and Solana still hold significant value.

Ethereum trading delay: There was a delay in Ethereum trading, causing short-term memory loss in the crypto community. This delay could last another three weeks, but altcoins should recover once Ethereum moves.

Greed in the market: There is excessive greed among many celebrities who launch their own coins and promote their large profits. The market showed many signs of greed, such as screenshots of profits and losses from retail investors touting millions of dollars. earnings thanks to meme coins.

He pointed out that although the current market scenario is difficult and painful, there are still strategies to deal with it, either by staying strong or trading strategically based on market sentiments.

Read also: Top Analysts Predict Final Crypto Capitulation Before Major Recovery, Comparing 2024 to 2016

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