Several positive developments in the crypto space are seemingly driving BTC’s price gains. One such development is Laser Digital Asset Management‘s launch of a Bitcoin Adoption Fund.
Laser Digital Management is a subsidiary of Japan’s Largest Investment Bank, Nomura. This fund is designed to attract institutional investors to invest in Bitcoin without holding it directly.
Furthermore, since altcoins are correlated to BTC’s price, the market has a more positive outlook. Despite price volatility, some altcoins rank among the top gainers, surpassing BTC’s price gains.
XDC Network (XDC) – The Open Source Protocol
XDC’s price on September 20, 20, at 9:24 am EST, is $0.054, with a 2.0% increase in the last 24 hours. Also, its price gains in the last seven days are modest at 2.2%. XDC continues to commit to its community at the ongoing Philippine Blockchain Week.
According to the announcement, the event began on September 19 and will terminate on September 21. This blockchain event occurs at the Marriott Grand Ballroom, Newport World Resorts Manila. Notably, XDC’s ecosystem developer, Rebecca Dausen, is a key speaker at the event.
According to the announcement, she will discuss ” Use cases of Blockchain beyond Cryptocurrency’.
Get ready to meet XDC Network at the Philippine premiere Blockchain event- the Philippine Blockchain Week 2023! 🚀
📅 Mark your calendars: September 19-21
🏨 Venue: Marriott Grand Ballroom, Newport World Resorts Manila
🔗 Link: https://t.co/xncqqCkJ6i
🎙️Rebecah Dausen… pic.twitter.com/tazPpfKNYM
— XinFin (@XinFin_Official) September 18, 2023
Also, XDC’s Marketing and Partnership Lead, Chen Shanlong, will speak at the event, tackling the topic ‘Public Sector Use Cases for Blockchains“. This event will likely drive more investors to the XDC ecosystem and boost XDC’s price.
XDC’s Rally Stalls as Sellers Re-Enter the Market, Will Its Price Decline?
XDC has formed a Doji Star candlestick pattern on the daily chart, signalling a downtrend ahead. After finding support at $0.05, it faces stiff resistance at $0.056. Also, XDC is in the lower region of the Donchian Channel (DC) under the Median Band.
The sellers have re-entered the market, forcing a decline to the $0.05 support. Furthermore, the Relative Strength Index (RSI) value is 47.59 in the neutral zone and moving sideways. Consequently, the RSI’s sideways movement reflects traders’ indecision and a likely decline ahead.
Also, the Moving Average Convergence/Divergence (MACD) has dropped below its signal line, displaying a sell signal. Additionally, the red Histogram bars confirm that selling pressure is rising for the asset. XDC will likely retrace in the coming days if the sellers sustain their pressure.
Toncoin (TON) – The Open Network Crypto Asset
On September 20, TON’s price, at 9:25 am EST, is $2.48, slightly gaining in the last 24 hours. Also, its seven-day price gains of 26.7% reflect increasing buyers’ interest in the token. TON’s price gains in the past week resulted from integrating its Web3 wallet on Telegram.
According to the announcement, the Ton Foundation is working with Telegram exclusively to promote the Ton ecosystem. Ton Space, the self-custodial wallet, is now available to Telegram’s 800 million active users.
TF now working with @telegram exclusively, to integrate and promote the TON #Web3 ecosystem. @wallet_tg made its self-custodial wallet, TON Space, available to 800M active Telegram users!#TON Ecosystem gets first access to Telegram’s global ads platform.
— TON 💎 (@ton_blockchain) September 14, 2023
Also, the TON ecosystem members get first access to Telegram’s global Ads platform. Furthermore, the Ton Foundation aims to get 30% of Telegram users to adopt the wallet by 2028. Also, the integration gives builders an edge for seamless onboarding, dApp authorization and transaction signing.
Toncoin’s collaboration with Telegram resulted in a huge price surge and massive user engagement. TON is still in an uptrend on the daily chart. However, the buyers are beginning to profit, likely leading to a slight decline ahead.
TON Buyers Begin to Take Profit In Overbought Region. Will The Uptrend Continue?
Despite forming a red candle, TON is in an uptrend on the daily chart. It found critical support at $2.3, rallying to test the $2.58 resistance level. However, buyers are beginning to profit, leading to a temporary decline for the asset.
Meanwhile, TON is still trading in the upper region of the Donchian Channel (DC) despite the slight decline. It implies that TON buyers are still active and determined to break above the $2.58 resistance level. Furthermore, the RSI indicator displays a value of 74.5 in the overbought region above 70 but moving downwards.
This reflects the slight retracement as buyers take profit. Also, the MACD still displays a buy signal rising above its signal line. However, the Histogram bars are fading from green, showing that TON is retracing. TON will likely lose its gains in the coming days as buyers close their positions before resuming its uptrend.
GMX (GMX) – The Top Ranking Decentralized Spot and Perpetual Exchange
GMX shows slight retracement on September 20, at 9:27 am EST. However, it has posted impressive gains of 11.8% in the last seven days. Investors now wonder if the latest development in its ecosystem will help increase demand and price in the coming days.
Notably, on September 14, a developer on Arbitrium, Nitro Cartel, announced the launch of GMLP to improve GMX version 2.
The Cartel has been working on a new asset that directly enhances what’s possible with GMX V2.
— ╼╾ Nitro Cartel ╼╾ (@nitrocartel) September 14, 2023
According to the report, GMX launched their Version 2 platform with a GM pool, similar to other DeFi providers. This upgrade in the GMX ecosystem seeks to enhance capital efficiency and risk management across GMX markets for investors.
However, the GMX pools’ problem was that users took time to simultaneously participate in several asset pools. Previously, users must purchase GM pool assets individually before deciding how to distribute them. But now, GMLP provides a one-click solution for users to purchase a fraction of all GM pools.
Additionally, the rewards of these pools are automatically compounded for the investors. Notably, holders can enjoy multi-pool exposure and auto-compounded rewards. But this upgrade has not improved GMX’s tokens price for now as it still faces bearish resistance.
GMX Facing Resistance at $36.5, What Lies Ahead For The Token?
GMX pivoted off the $ 31.9 support level to rally between September 18-19. However, it faces resistance at the $36.5 price level, a potential seller entry point. Also, the Stochastic Oscillator has declined to the neutral zone, with the fast RSI displaying a value of 51.4.
The indicator is moving downwards, confirming seller pressure on the asset. Although the MACD is still above the signal line and the Histogram bars are green, a retracement is still possible.
But, the Parabolic SAR indicator is below the candles, hinting at a possible rally if the buyers break the resistance. GMX will likely shed some of its price gains in the coming days. However, if GMX overcomes the $36.5 resistance level, it will resume its uptrend.
Wall Street Memes (WSM) – The Street Revolution and Top Memecoin Ecosystem
Wall Street Memes is primed for success, with over 1 million active community members and 40 million monthly impressions. Its utility token, WSM, grants holders access to ecosystem benefits such as NFTs and staking for rewards.
USA just hit $33 Trillion debt like it's all fun and games pic.twitter.com/wun79MJeHD
— Wall Street Memes (@wallstmemes) September 19, 2023
Also, transparency remains the watchword for Wall Street Memes, as it has no specially reserved tokens for the developers.
Four Days to The End Of WSM Presales!
The WSM presale has entered its final stage with just four days left to its conclusion ahead of its listing. Notably, WSM’s presale has raised over $25 million, reflecting massive interest from investors in the crypto sphere.
Furthermore, its upcoming listing on Tier-1 exchanges will likely lead to a price surge for the tokens. WSM tokens can be purchased with ETH, BNB or USDT. Each token is worth $0.0337 and can be purchased by connecting a secure wallet to the official website.
A late accumulation phase for the tokens is ongoing as investors prepare for the launch. WSM is an ERC-20-compliant token, meaning it relies on the Ethereum blockchain for security. Also, WSM relies on a staking model as a reward system for its investors, similar to Ethereum’s.
Today, over 357.6 million tokens are staked at an APY of 56%. Furthermore, the staking mechanism controls inflation and prevents users from dumping their tokens. Based on this staking model, users earn rewards based on the percentage of their WSM tokens in the staking pool and the APY value.
WSM Details Exciting Plans Ahead for Community Showing Long-Term Value
WSM has an exciting roadmap to reward its vibrant community. The developers have plans to launch branded merchandise. The merchandise includes T-shirts, sweatshirts, mugs, and caps to showcase the community spirit.
Next, Phase 2 focuses on the token launch and partnerships with influencers and meme creators.
Additionally, listing on top crypto exchanges is a top priority. Finally, in Phase 3, the WSM gated community will launch, where users can access exclusive content. The collective goal will be attaining a market cap of $1 billion based on WSM’s massive community growth.
One common factor found in all crypto assets is price volatility. However, some traders successfully navigate market volatility to make a profit. Also, exciting developments within an ecosystem often drive adoption and accumulation, leading to price gains.
Furthermore, presales offer investors an alternative route to accumulate tokens and take advantage of an early price surge. Nevertheless, all investments come with risks, and crypto investments require proper risk management and research.
Additionally, investors prefer diversifying their investments to prevent total liquidation from one bad position.