The crypto market is gaining investor traction as some cryptocurrency communities rank top according to their open interest (OI)rate. This can be leveled with the bull run the market is currently experiencing. Bitcoin was positioned to be ranking the chart with $11.1billion which signals a resurgence in the ecosystem.
However, some coins are not ranked among the top open interest rates they are not slaking in the current market bull run. Some are impulsively upscaling their potential by significant price increases and percentage value.
This article will delve into the world of cryptocurrency growing today, it will demystify the fundamental analysis, review the real-world usage, and how investors can make informed decisions on investment.
related post
why you should consider avalanche - $AVAX
Cryptocurrency growing today
Despite numerous predictions around bitcoin retracement in the coming day, this will not deter some community assets from declining in price. Coins like Monero and bitget tokens have taken over the price surge with significant price increases.
Monero has increased in value by4.46%in the last 24 hours, while bitget tokens also join the train by 3.12%.
Top growing cryptocurrencies are proving to be a lucrative investment in the current bullish market, while monero is consolidating, investors are taking profit as bitget token takes the new all-time high.
Monero (XMR)
Monero was designed to conceal individual identity during transactions contrary to Bitcoin who have a traceable transaction identity, In light of this, it gained traction among investors to upscale their investment portfolios.
In the last 24 hours, XMR has gathered momentum in the bull run with a 4.46% increase in value, the price rapidly increased to $146.75 leaving the support level price of $126.59 it was previously bouncing. The market is 4.62% which was an additional 2% generated from the 2.47%of the 24-hour market cap. However, its Circulating supply of 18,443,481 XMR poses an impressive market optimism.
XMR increase in the bull run can be traced to the individual donations that were given to the ecosystem. This birthed a revolution in the price movement and functionality of the coin.
the trading view review of The simple moving average is way below the XMR price indicating an optimistic market in a few weeks. Therelative strength index, has been moving around the 60 midline is bouncing around retracement, currently at 69. As demand increases, the RSI value might rise into the overbought zone, signaling buy pressure.
Bitget Token (BGB)
The bitget token It's a native utility token, a crypto centralized exchange, that was launched to provide a platform for users with a form of payment within the ecosystem.
The utility token can be used by traders for staking, social trading, profit sharing or receiving on trade fee. This exposes the token to regular engagement by its users.
In light of this, it has amassed a mass increase within the last 24 hours of trade. The price surged impressively to $1.35 giving it a bull run to close the nearest all-time high, with an accumulation of 1.98% value, although, this does not play a ripple effect on the circulating supply as the circulating supply was reduced by 600,000, leaving its circulating supply at 1,400,000,000.
related post
HOW TO IDENTIFY MITIGATED ORDER BLOCK AND UNMITIGATED ORDER BLOCK.
Bitget token deployed a lot of strategies to upscale their price in the bull run, the most prominent was the free gas fee that was introduced as a way to attract customer into their ecosystem.
In addition, the trading view review of the Simple Moving Average (100) and Exponential Moving Average (200) are lower than the current price indicating an uptrend, a market optimism in a few days. The relative strength index is hovering around the 70 midline level indicating a retracement, currently at 72 which is an overbought zone, spotlighting a buy pressure.
Comments
Post a Comment