The crypto market continues to show retracement with a slight decline in the past 24 hours. According to Yahoo! Finance, Bitcoin, the market leader, declined close to the $27,000 price.
Notably, BTC’s decline is likely a result of the ongoing Hamas-Israel conflict as investors’ confidence declines.
But while the macroeconomic financial market contracts, some cryptocurrencies still rank among the top gainers. These tokens benefit from positive developments within their ecosystem, which attract more investors. Here are facts about the top gainers and their possible price outlook in the coming days.
Render (RNDR) – The Distributed GPU Ecosystem
RNDR’s price on October 11, at 7:31 am EST, is $1.81, with a 3.7% increase in the last 24 hours. Also, it has gained 7.2% on its price in the last seven days, confirming a rise in buying pressure.
Today, a possible factor driving RNDR’s price gains is its partnership with Ionet Official, announced on October 10.
@ionet_official is joining forces with @rendernetwork to revolutionise decentralized computing🤝🏽
This partnership is not merely a merger of technology but a bold step to disrupt DePIN – making computing faster, cheaper, and more accessible.@ionet_official acts as a generalized… pic.twitter.com/0uk2p3wCmS
— io.net (@ionet_official) October 9, 2023
According to the announcement, the focus of this partnership is a decentralized computing revolution. Also, it is a bold step to make computing affordable, faster, and more accessible. Ionet official is a generalized computing network for handling end-to-end machine learning workloads across Render Network GPUs.
Users can now scale and distribute workloads across thousands of Render GPUs with the frameworks provided. This exciting partnership adds more utility to the Render ecosystem, thereby boosting the value of RNDR tokens.
Meanwhile, RNDR is close to the $1.85 resistance level, and a break above it will confirm that the buyers are in control of its price action.
RNDR Close to The Overbought Zone As Buyers Sustain Rally
RNDR is in an uptrend on the daily chart after finding support at the $1.76 price level. Also, it is approaching the $1.85 resistance level as the buyers continue to mount pressure on its price.
RNDR recovered from the October 9 slump to rally again, forming two green candles. Also, the Relative Strength Index is at 67.7, moving upwards to its overbought region.
Notably, the RSI was in the overbought region between October 6 and 8 before a retracement as the buyers took profit. Also, the Moving Average Convergence/Divergence (MACD) confirms the bullish sentiment, rising above its signal line.
Although the green Histogram bars are fading, the buyers still need to finish the rally. RNDR will move into the overbought zone if it breaks above the $1.85 support. Based on these bullish sentiments, the rally will likely continue in the next few days before a retracement.
Unus Sed Leo (LEO) – The Utility Token of the Bitfinex Crypto Exchange
LEO’s price at 7:54 a.m. EST is $3.7, with a 0.6% increase in the past 24 hours. However, it displays price volatility in the past week, evident from the limited gains in the last 24 hours. The crypto exchange with LEO as its native token, Bitfinex, announced its expansion to Vietnam on October 9.
Bitfinex is coming to #Vietnam! 🇻🇳
We’re expanding our Mission to Deliver Financial Freedom from Hanoi to Ho Chi Minh and everywhere in between!
Bitfinex is also available in English, Turkish, Chinese, Portuguese, Spanish, and Russian.Next stop Vietnam!https://t.co/UYVuXTotcm pic.twitter.com/ZD71DZyn7A
— Bitfinex (@bitfinex) October 9, 2023
This expansion is likely contributing to LEO’s slight gains. According to Bitfinex, the expansion drive hopes to deliver financial freedom to regions such as Hanoi and Ho Chi Minh. Also, the Bitfinex platform supports a multilingual function with options such as English, Chinese, Turkish, Spanish, and Russian.
This global expansion will likely drive more users to the Bitfinex ecosystem since it focuses on providing Bitcoin liquidity. Eventually, LEO will increase in value due to the increased adoption. Bitfinex shows positive price movement on the daily chart after rebounding off its nearest support level.
LEO Crosses 200-Day Simple Moving Average (SMA) As Buyers Rally
LEO has formed two consecutive green candles on the daily chart after finding support at $3.72. Also, LEO is trading above the 200-day SMA as buyers re-enter the market to force a rally.
LEO is approaching the $3.80 support level again after declining below it on October 8. Also, the RSI indicator displays a value of 49.7, rising from the neutral zone as it approaches the buy zone.
If the RSI crosses 50, investors can confirm a return to the $3.80 price level. LEO will likely continue its rally in the coming days if the buyers sustain their charge. However, LEO is still below its 50-day SMA, implying that a short-term retracement is still possible.
Maker (MKR) – The Ethereum-based DeFi Platform
MKR trades at $1,406 on October 11, at 7:58 a.m. EST, with a 3.0% increase in the last 24 hours. However, it has retraced slightly in the last seven days due to external pressure on the crypto market.
One of the driving forces for MKR’s price gains is launching the Spark protocol on its Gnosis chain.
1/18
The @sparkdotfi @gnosischain instance is now live! 🎉
What does the Spark – @MakerDAO relationship look like?
Why was Spark launched on Gnosis Chain (GC)?
And how was @BlockAnalitica involved in the Spark GC instance onboarding?
Continue reading to find out! ⬇️
— Block Analitica (@BlockAnalitica) October 9, 2023
According to a thread by Maker, the Spark SubDAO has developed the Spark Protocol. Notably, the first product of the protocol is Spark Lend (S.L.), a lending engine that integrates directly with Maker.
In addition, the Spark Multi-Chain Strategy focuses on Layer 2 and other chains. According to the strategy developers, the road to growth is going to where the users are.
Also, Spark protocols’ launch on the Gnosis Chain was subjected to rigorous testing. The tests include the Gnosis Chain risk profile, Gnosis Bridge risk profile, and Spark DAI rate model.
Spark Protocol is now live on the Gnosis Chain and will likely extend to other chains and L2s. However, Spark Protocol faces resistance at $1,433.2 on the daily chart.
MKR Finds Support at $1406 Price Level. Will It Break Its Nearest Resistance?
MKR has found critical support at $1353.6, preventing further decline after the October 6-9 downtrend. Also, MKR faces resistance at the $1433.2 price level, and a break above this level will confirm that the buyers are in control.
Furthermore, MKR is approaching the Median Band of the Donchian Channel (D.C.), confirming the rising pressure from buyers. If MKR breaks above the $1.433.2 resistance level, it will rise to the upper band of the Donchian Channel, giving long positions profit.
Additionally, the RSI indicator is rising from the neutral zone with a value of 54.8. If the RSI increases to 60, then it will likely enter the overbought zone in the coming days. MKR will likely record more price gains if the buyers break above the $1433.2 resistance level.
Bitcoin Minetrix (BTCMTX) – The Mining Ecosystem for Exciting Rewards
>>>Visit Bitcoin Minetrix Presale
Bitcoin Minetrix is a relatively new mining solution that offers users an opportunity to access cloud mining. Interestingly, Bitcoin Minetrix relies on a Stake-to-Mine mechanism using smart contracts to achieve its mission.
Also, it operates on the Ethereum blockchain and adopts its staking model. Therefore, users can stake and burn tokens for extra mining hash power.
Remarkably, Bitcoin Minetrix aims to create a safe and efficient connection between blockchains that support cloud mining activities. Furthermore, it maintains transparency and accessibility in mining activities. Consequently, small-scale miners can mine by relying on cloud computing.
Also, the decentralized mining feature eliminates third-party cloud mining scams, giving token holders full control of their tokens. Users can stake their BTCMTX tokens to earn credits. These credits are then used to mine BTC tokens, boosting BTCBMX utility and long-term value.
BTCMTX Presales Offer Early Investors a Chance For Profit
BTCMTX is on presale and attracting massive interest from investors. At this stage, each token is worth $0.011, with a price increase coming up in less than five days. Notably, early investors will receive paper gains when the price of BTCMTX increases in the next presale stage.
Big News 📢#BitcoinMinetrix has raised over $1,000,000! pic.twitter.com/LYmTgxfH51
— Bitcoinminetrix (@bitcoinminetrix) October 11, 2023
The presale has crossed the $1 million milestone and is fast approaching the presale goal of $1.54 million at this stage. Users can purchase these tokens with ETH, BNB, USDT, or bank cards.
The Bitcoin Minetrix Growing Relevance in The Cloud Mining Sector
According to a Tweet from Bitcoinminetrix’s official account, mining companies drove a massive 38.19 EH/s increase in the network hash rate in Q3. Mining companies like Bitdeer expanded by 120%, while MarathonDigital recorded a 20% growth in the U.S. hash rate.
🚀 Big #Bitcoin mining companies, like @BitdeerOfficial, @MarathonDH, and others, drove a massive 38.19 EH/s increase in the network #HashRate in Q3, despite challenges like summer heat waves.#Bitdeer expanded by 120%, while #MarathonDigital saw a 20% growth in US hash rate.…
— Bitcoinminetrix (@bitcoinminetrix) October 11, 2023
These improvements come despite challenges such as summer heat waves faced by miners in Q3, 2023. These statistics confirm that cloud mining is growing in relevance in 2023 since it is more cost-effective.
Bitcoin Minetrix offers its users an escape route from high hardware costs and scams associated with some other platforms. Notably, the Stake-to-Mine concept makes Bitcoin mining accessible to all investors, which was previously controlled by a monopoly.
The main requirement for users is an Ethereum-compatible wallet to purchase and stake BTCMTX tokens. Also, cloud mining saves energy and time while giving users an alternative method to earn BTC without purchasing it.
It eliminates the noise pollution associated with traditional mining hardware for its users. With the Bitcoin Minetrix dashboard, users can easily manage their BTCMTX tokens and mining credits.
Notably, Bitcoin Minetrix has announced a $30,000 airdrop event. Participants must complete certain mandatory tasks to qualify for this airdrop. At the end of the competition, 10 winners will receive $3,000 worth of BTCMTX each.
Exciting Roadmap Confirms Bitcoin Minetrix’s Long-Term Value
Based on the whitepaper, the roadmap covers four stages. Stage one will emphasize the presale and the staking contact development. Stage two will focus on the Bitcoin Minetrix app development, software, and team expansion goals.
Additionally, partnerships with reputable cloud mining companies and CEX listings will also be the focal point. In Stage Three, the Stake-to-Mine mobile and desktop dashboard and the burning of mining credits will begin.
Lastly, Stage Four’s goal is mass adoption of BTCMTX and cloud mining rental expansion in different regions. BTCMTX’s total supply is 4 billion tokens. Notably, 42.5% is dedicated to Bitcoin mining, 35% to marketing, 5% to staking and 15% to community.
Meme Kombat (M.K.) – The Gaming and Betting Crypto Community
>>>Visit Meme Kombat Presale
Meme Kombat is an ultra-modern gaming and betting platform that creates a battle between popular memes for fun. It is a play-and-earn ecosystem where users earn passive rewards through staking and betting on battles in the ecosystem.
Meme Kombat is growing in relevance in the crypto sphere as more investors begin to join its presale ahead of a potential listing.
M.K. Presales Update and Milestones
According to an update by Meme Kombat developers on October 12, the team is making a change in their tokenomics. M.K., the utility token, previously had its total supply capped at 12 million tokens. However, the total supply has now been increased to 120 million tokens.
🚨 PRESALE UPDATE 🚨
The team at #MemeKombat are making a minor, yet noticable change to our tokenomics for $MK. We are increasing the total supply by a factor of 10. The new token supply will be 120m $MK tokens 📈
So what does this mean for everyone?
— Meme Kombat (@Meme_Kombat) October 10, 2023
So, buyers who have bought the presale tokens already will have their tokens increased ten times their former value. However, it will not change the USD value of the tokens purchased. The token’s price is still $0.1667 per $ M.K. token.
According to the developers, the action is to provide greater flexibility with their tokenomics. Additional information is available in the Telegram channel for users, Users can purchase these M.K. tokens with ETH or USDT while linking a secure crypto wallet to the official presale website.
Staking and Betting Sets Meme Kombat Apart as A Utility Ecosystem
Also, M.K. offers users an auto-staking feature once they complete their purchase. These staked tokens give users access to extra rewards that are claimable after the purchase. The staking rewards are calculated based on the APY at the time of staking and a user’s percentage in the staking pool.
Also, users can bet on battles in the Meme Kombat ecosystem, selecting from different game modes. Overall, staking and betting give Meme Kombat value, which will likely make it one of the breakout projects in 2023.
eCash (XEC) – The Electronic and Private Cash Transfer Platform
XEC‘s trading price at 8:01 am EST on October 11 is $0.000024, with a 2.0% increase in its price in the last 24 hours. Conversely, it is down by 2.3% in the past seven days, reacting to the increased price volatility.
eCash announced the integration of a Swap Widget today, likely boosting its price in the last 24 hours.
📢 #XEC‘iting news! We have integrated the widget of the leading #cryptocurrency exchange aggregator, @swapzone_io, onto our website! 🔥
🔄 Swap your crypto into $XEC quickly using the swap widget available on our website:
📝 Learn more:… https://t.co/okSj1QANwP
— eCash (@eCashOfficial) October 11, 2023
According to a Swapzone blog post, this partnership will help eCash users easily swap their digital assets for profit. Also, with the combination of Avalanche Post-Consensus and Nakamoto protocol, eCash can offer 1-confirmation finality. Therefore, it is an ideal network for quick and secure transactions.
This partnership will likely attract more traders, miners, and crypto enthusiasts to the eCash ecosystem. Notably, the integration will give eCash users access to over 1600 assets and 20 exchanges, boosting utility.
Furthermore, the crypto swap widget acts as a payment gateway to help users boost their revenue. On the daily chart, XEC records slight increments as more buyers accumulate the tokens ahead of a potential surge.
XEC Breaking Out of Sideways Trend Based On MACD Sentiment
XEC is in an uptrend on the daily chart as the buyer attempts to break out of the sideways trend on October 10. Also, it has formed two consecutive green candles on the daily chart after finding support at $0.000023.
XEC faces resistance at $0.000025, and the long upper wick on today’s candle confirms that the sellers are still active. Notably, the RSI indicator displays a value of 46.9 and is rising from the neutral zone as buyers re-enter the market.
While the MACD is still below its signal line, the fading red Histogram bars suggest that the sellers are retreating. Based on XEC’s trajectory, it will likely break above the $0.000025 resistance level if the buyers sustain their pressure.
Conclusion
The top gainers today defy the rising fear levels among investors to record gains based on developments. However, market volatility is a constant factor that could limit their price gains moving forward.
Nevertheless, ecosystem developments help boost the price of these tokens, especially in the meantime, investors can consider presale tokens as a means to diversify their portfolios.
Presale offers low-price tokens ahead of a potential price surge after listing. However, proper risk management and research are vital to successfully trading in the crypto market.
