The crypto market capitalization is currently up by 0.07% to $1.17 trillion: a low rise but a significant departure from the previous day. There are also more assets gaining by considerably higher percentages than a few days ago. Could these be taken as signs that the crypto market is staging a rebound? Or are they just effects of a new week? The following 24 hours should give more clarity.
Shares in Asia slid in the early hours of Monday following the property crisis in China. The real estate situation emphasizes the need for urgent stimulus packages, although Beijing seems not to pay attention.
In the US, increasing Treasury bill yields sprouted the Dollar against the Japanese Yen. The Dollar is currently at its highest point this year.
Geopolitics added its weight to the struggling global economy on Sunday. The pressure followed fears after a Russian battleship allegedly fired warning shots at a supposed cargo ship in the Black Sea. The event turned a new page in the ongoing crisis in Eastern Europe, as it could affect food and oil prices.
The US will release reports on industrial output and retail sales on Tuesday. Analysts say the reports need to be more impressive. That will further put more pressure on the Yuan.
The news from China showed that two firms had yet to receive payment for their maturing investment products with Zhongrong International Trust Co. The news put more pressure on investors in additional real estate woes.
The Next Cryptocurrency To Explode
Investors staying on the sideline should be ready to reenter the market. All indicators favor a bullish run; all that’s left is the actual play. If there were one, it would be great to have the crypto market rebound again before the subsequent interest rate increase.
1. Wall Street Memes (WSM)
The trail-blazing Wall Street Memes token presale is not relenting on its course. It has raised more than $23.7 million as of this report. It is the next cryptocurrency to explode after it launches, without a doubt.
As part of its ways to encourage presale participants and attract more, it is conducting an airdrop. The airdrop, worth $50,000, is allowing investors to win a portion of five $10,000 worth of WSM tokens. Participants who want to participate in the airdrop have to follow specific steps, including following the WSM Twitter page. Other steps are visiting the project’s Instagram and website, joining Discord and Telegram, and providing WSM token Proof-of-Purchase. There are currently 111 days left for participants to enter the airdrop.
Anyone else or just me? pic.twitter.com/ED5ojBIeDI
— Wall Street Memes (@wallstmemes) August 13, 2023
There are always those who wonder if WSM is a good investment. The need for continuous reassurance serves the interest of this category of people. It also serves to remind the market of the project’s fascinating history. Its goal, on a broad scale, is to revolutionize the financial space using blockchain and the meme culture.
Furthermore, Wall Street Memes want to empower all investors as it disrupts traditional finance. Apart from using memes to achieve disruption, it equally harnesses decentralized finance. Importantly, it is putting control back in the hands of investors.
For its token management, WSM has allocated 5% of its total supply to marketing efforts. It has expanded its media channels with that and enlisted influencers’ services. 3% have also been separated to serve as rewards to the community for their loyalty. 10% is allocated each to centralized and decentralized exchange to provide liquidity when it starts trading officially.
Notably, the team behind this project has a clear roadmap split into three stages. The roadmaps help ensure it is successful in the long term.
The first stage is its foundation. It focuses this stage on building its smart contract and a strong community. It also focuses on launching comprehensive marketing and branding campaigns. The goal is to engage the community with good service and spread the word about the projects.
The second phase is its launch. It is when WSM is officially launched. The team will go ahead to build and finalize the necessary partnerships. It will also list the token on exchanges while it runs more campaigns to take WSM to the mainstream. In this crucial phase, it will collaborate with meme creators, influencers, and content platforms.
The final stage is community engagement. The team will be unlocking certain benefits to the community here. It looks forward to having a market capitalization of a billion Dollars and getting listed on top exchanges.
Visit Wall Street Memes.
2. Zcash (ZEC)
Zcash is one of the notable crypto assets in the last 24 hours. It has maintained a relatively stable performance despite not having huge gains. The token saw a modest increase of 1.74% in its price during this period, currently trading at $29.85. This modest uptick highlights the consistent nature of Zcash, as it demonstrates resilience in avoiding bearish trends.
The token has demonstrated consistent price performance over the past months. Considering this token as an investment option could prove valuable. This recommendation is rooted in analytical research and the predictions of cryptocurrency experts, suggesting the potential for a significant price surge.
It’s worth noting that Zcash’s trading volume also witnessed a substantial gain, rising by 76.06% in market activity within the same 24-hour timeframe, amounting to $53.5 million. Despite the past decline, there’s no immediate cause for concern, as Zcash remains above its support level of $29.11, suggesting the possibility of a potential rally.
ZEC token holders are eagerly anticipating a resurgence in value. Investors are inclined to flock to assets like Zcash. It offers privacy utilities not seen in most other crypto projects. With the recent clamor for higher transaction privacy, investors would use a platform offering that option instead.
3. Mina (MINA)
The Mina Protocol is a minimalist blockchain meticulously crafted to reduce the computational demands necessary for running decentralized applications with remarkable efficiency. Mina is the world’s lightest blockchain, a unique trait enabled by its ability to maintain a consistent size even as its usage expands. Remarkably, it achieves this equilibrium while maintaining a robust stance on security and decentralization. The project underwent a rebranding transformation. It transitioned from Coda Protocol to Mina, a change implemented in October 2020.
Over the last few months, the MINA coin has been navigating significant volatility like most of the market. The situation prompted some investors to explore alternative options for better investment opportunities.
The asset has, however, managed to secure an increase of 3.29% in its price value over the last 24 hours. It is currently trading at $0.4825. However, when examining the performance over the past 30 days, it becomes evident that the coin has encountered a decline of 2.50% in its price value.
Additionally, Mina reached an all-time low approximately two months ago, on June 10th, 2023, when the token was trading at $0.37.
The latest rise is a ray of hope that something significant is happening. A little push further, and it could hit a bull run. Bulls need to keep the momentum going to regain control of the market.
4. Conflux (CFX)
The Conflux network is a prominent public layer-1 blockchain designed to empower decentralized applications. It also fuels e-commerce and drives the development of Web3 infrastructure. Its primary mission is to outshine existing protocols by offering better security, scalability, and decentralization.
One of the significant strengths of the Conflux network is its ability to execute the swift, efficient, and cost-effective transfer of valuable assets. It simplifies asset transfers by ensuring a seamless process without network congestion and with minimal transaction costs. The platform’s foundation rests on the innovative Tree-Graph consensus mechanism, ingeniously merging the strengths of Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms to achieve consensus. This approach provides a solid foundation for its operations.
Conflux doesn’t stray far from the norm regarding its smart contract capabilities. It employs Turing-complete intelligent contracts written in Solidity, the same language used on Ethereum. It boasts compatibility with the Ethereum Virtual Machine (EVM), enhancing its interoperability with the broader blockchain ecosystem.
The driving force behind Conflux’s rapid growth is its native token, CFX. This token serves a multi-faceted role within the platform, offering users financial incentives to participate and engage actively. CFX is a means to pay transaction fees, plays a crucial role in network governance, and is distributed as compensation to miners who contribute to network security through staking mechanisms. This comprehensive token utility contributes significantly to the platform’s overall ecosystem and attractiveness to users and miners alike.
A significant partnership was established between World Mobile and Conflux on the 2oth of July. This collaboration aims to foster a more connected, inclusive, and decentralized global environment. The Conflux–World Mobile partnership will enhance interoperability and introduce EarthNode capabilities.
Experts believe the strategic alliance with Conflux will substantially support World Mobile’s expansion plans, particularly in key Asian and African markets. This partnership holds significant potential for both companies.
It is one of the primary reasons why the CFX token has risen significantly and gotten lots of attention.
Wall Street Memes – Next Big Crypto
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