The crypto market has recovered from the slight dip on December 7 to post impressive figures in the last 24 hours. Bitcoin is still trading above $43,000, holding onto its gains after breaking above the $40,000 psychological resistance level.
According to a CNBC report, the uptick in crypto prices has drawn interest from various quarters. Remarkably, U.S. Senator Elizabeth Warren called for a review of banking laws to include cryptocurrencies.
This confirms that the adoption of cryptocurrencies is increasing worldwide.
Also, Yahoo Finance reports that several big institutions are adding capital to the crypto market. This uptick in prices is evident in altcoins and meme coins, which continue to rank among the top gainers each week.
More facts on the current state of the crypto market and snapshot price analysis of today’s top gainers are covered below.
BitTorrent (BTT) – The Decentralized Protocol Blockchain
BTT’s price at 7:01 a.m. EST is $0.00000101, with a 33.5% increase in the last 24 hours. Remarkably, it has gained 115.1% in the last week, which is a high-profit margin for early buyers.
Notably, the trading volume of BTT surged by 1157% within 24 hours on December 7, showing the rising interest from investors. One of the factors driving BTT’s price gains is the accumulation frenzy by buyers, eagerly filling their bags with the token ahead of 2024.
📈Trading Volume of $BTT has increased 1157% in the last 24 hrs on @CoinMarketCap! #BitTorrent #BTT #BTTC pic.twitter.com/hjgSOsnUT9
— BitTorrent (@BitTorrent) December 7, 2023
Also, the BTFS technical community has launched the BTIP-52 proposal discussion. This discussion will hopefully support the idea of encrypted file sharing. The encryption is to enhance data privacy for BitTorrent users.
Moreover, this proposal is in the final stage, and members of the community are free to make input on the proposal. This community-based approach is likely to attract more investors to the ecosystem and boost the value of BTT tokens.
On the daily chart, BTT has formed a Maribozu candlestick, which is a strong bullish signal.
BTT Overcomes Slight Dip Can It Break Above $0.00000107
BTT rallied on December 6 to break above the $0.00000077 resistance level. However, the sellers limited their price gains on December 7 to form a red candle on the daily chart.
But today, BTT has formed a bullish engulfing pattern and is attempting to break above the $0.00000107 resistance level.
Also, BTT is trading close to the upper band of the Donchian Channel (DC), which confirms the bullish pressure today. Additionally, the Relative Strength Index (RSI) indicator is in the overbought zone and displays a value of 82.51.
The upward-facing RSI suggests more price gains for the asset in the coming days. So, BTT will likely break above $0.00000107 to record higher highs in the coming days if the buyers continue to rally.
Bonk (BONK) – The First Dog-Themed Coin on Solana
BONK is up by 36.7% at 7:20 a.m. EST, trading at $0.0000129. Also, it has gained 203.7% in the past week as the buyers continue to exert dominance on its price. Its affiliations with Solana might also be aiding the recent gains.
In fact, the utility of the token in gaming and other activities is attracting more investors to bag the tokens and boost their value.
35 MILLION $BONK IN FREE PLAYS 🔥
First 250 to share their wallet in the @bonk_inu Discord or TG will receive 150K $BONK in game credit 🎉
PLUS 2 MILLION BONK for one lucky person who retweets and follows @moonshot_win. 🌟
Play with $SOL or $BONK at https://t.co/ZaMPHWpc4I 🎮 pic.twitter.com/hkah3XD94f
— Moonshot.win 🚀 (Cross Chain Crash Game) (@moonshot_win) December 5, 2023
Also, Moonshot. win a gaming platform is giving out 35 million $BONK tokens in free plays. So, the first 250 gamers to share their wallets in the Bonk Discord channel or Telegram will get 150,000 worth of $BONK in-game credit.
Users can play with BONK or SOL tokens on the platform to earn more rewards.
Also, the upcoming Solana Speedrun 2 event will take place between December 12 and 17 in Singapore. Remarkably, this event is for on-chain and Solana-integrated games to showcase their features and diversity.
So, the event will likely attract the top gaming developers to the Solana ecosystem for exciting rewards. Further, OvolsNFT has integrated with BONK for the minting of their NFTs.
They will benefit from other additional features, such as the Anti-bot mint guard, the real-time mint stream, and the post-mint collection controls. The effects of all these developments are shown on the daily chart.
BONK is in an uptrend with higher highs as the buyers continue to sustain its rally.
BONK Displays Bullish Breakout Pattern. Will It Rally to $0.000013?
BONK has formed a rising wedge pattern on the daily chart, indicating that the buyers are in control of its price. It rallied between December 2 and 5, forming higher highs before a brief retracement on December 6.
However, the rally resumed on December 7 and has formed a higher high today.
BONK overcame the $0.0000076 resistance level on December 7 as the buyers overcame the bearish momentum. Presently, BONK is testing the $0.0000125 resistance level, and a break above it will likely sustain the rally to $0.000013.
Also, the Relative Strength Index indicator shows more buyer dominance as it sits at 89.36, showing massive buying pressure.
Additionally, the Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a buy signal. This signal is confirmed by the green Histogram bars, which show a strong accumulation phase.
So, BONK will likely overcome the $0.0000125 resistance in the coming days to rally to $0.000013.
Solana (SOL) – The Decentralized, Scalable Blockchain
SOL’s price at 7:23 a.m. EST is $73.45, with a 14.3% increase in the last 24 hours. Also, SOL has gained 17.3% in the past seven days, making today’s rally quite impressive and possibly pivotal to the price action for the rest of the month.
One thing driving gains for SOL is that Solana continues to take giant strides in development and partnerships. For instance, MPCVault has added support for Solana.
This update will enable MPCVault users to create wallets that support all SPL token types.
🎉It’s finally arrived, we’ve added support for @solana! 🎉
Our latest update adds support for Solana, a layer-one blockchain engineered for widespread, mainstream use by being energy efficient, lightning fast, and extremely inexpensive. Solana supports experiences for power… pic.twitter.com/9ZCfGB0MWJ
— MPCVault | Multisig crypto wallet (@mpcvault) December 7, 2023
Also, they can now explore the Solana ecosystem and interact with DApps through the MPCVault’s browser extension.
Furthermore, users can establish access controls and USD- USD-volume-based transaction policies. So, Solana’s speed and mainstream use are an added advantage to MPCVault users.
Meanwhile, Solana is hosting an exhibition at ArtBasel Miami Beach in Florida, USA. Here, artists can show off their creative prowess to attendees. Community members who could not attend the event in Miami can join the Metaverse Studio to relive the exhibition virtually.
Furthermore, on December 7, a stablecoin provider, Circle, released their free and permissionless devnet USDC faucet with support for Solana. Developers can now build payment apps seamlessly with this integration.
As a result of all these and more, SOL shows a strong bullish pattern on the daily chart as it prepares to break even higher highs in 2023.
SOL is approaching $72.92. Can it rally to $100 in 2023?
SOL is in an uptrend today after overcoming bearish resistance between December 3-6. It broke above the $65.82 resistance level on December 7, flipping it to support. Also, SOL has continued its positive form today, rallying to the $72.92 resistance level.
A break above this level will send SOL closer to the $100 price target, which is looking realistic before the end of 2023. Also, SOL is trading above the Parabolic SAR, which is a strong bullish indicator.
This implies that the buyers continue to control the price of SOL despite the recent pullback.
Additionally, the RSI indicator is in the overbought zone and rising with a value of 73.20. This also confirms the massive buying activity for the token.
Therefore, SOL may likely break above the $72.92 resistance in the coming days to record higher highs. Also, if the buyers sustain their pressure in the coming weeks, then SOL will rally to $100 in 2023.
TG.Casino (TGC) – The Online Casino For Rewards
With the present euphoria in the crypto market, the online crypto TG.Casino industry also records impressive growth.
Time for a quick numbers update!
$38m+ USD now wagered in the casino
$3.7m USD in total deposits in the casino
2450+ Players in the casino
All this while in presale, wait till we launch! 🚀 pic.twitter.com/NLKBqdAZFj
— TG Casino (@TGCasino_) December 6, 2023
TG. Casino is the trending crypto project in the online gambling niche, breaking records daily. With over $38 million wagered, more investors are accumulating the TGC utility token in the ongoing presale.
Also, there have been over $3.7 million in total deposits in the casino, with over 2,450 players and counting. So, TG. Casino is an ecosystem of rewards for players, with various exciting games available for players to win big rewards.
TGC Presales Moving Fast, Investors Must Act Now!
The ongoing TGC presale has raised over $3.61 million out of the presale goal of $5 million in a short while, confirming massive interest from investors. Currently, each token is worth $0.18, with a price increase coming up soon for the token.
Interested investors can buy now from the official presale website using USDT or ETH with a reliable wallet. Also, the TGC token supports staking for additional rewards.
Presently, over 23.31 million $TGC tokens are staked at the current APY of 169.09%. This will help to preserve the long-term value of $TGC in the crypto market.
Why Choose TG.Casino?
TG.Casino has exciting benefits based on its extensive features. Its integration with Telegram makes it quite easy for mobile users to wager on various games in the Casino directly from Telegram. Also, it offers its users a 25% cashback on all losses when betting with the $TGC token.
Furthermore, TG.Casino will engage in a 40% token burn to boost the value of TGC tokens in the market. So, the ongoing presale offers investors the best price range to accumulate TGC tokens ahead of a potential price surge after listing on top exchanges.
Conclusion
While the pessimists continue to call cryptocurrencies a scam, there is no denying that it has rewarded early investors. Although some investors fell victim to scams, 2023 is arguably the year that cryptocurrencies showed a glimpse of their potential.
If the positive momentum continues in 2024, then new all-time high values will be reached for most of the tokens. Additionally, presale tokens will benefit from the improved outlook of the crypto market when they eventually launch.
However, proper research and risk management are still fundamental tools for crypto traders, even during a bull run.
