Top Crypto Gainers on August 18 – Injective And Pax Dollar
The global crypto market is in a bearish phase today, reacting to negative news events in the crypto space.The total crypto market cap is $1.11 trillion, with a 5.85% decline posting its lowest value in August.
Bitcoin is partly responsible for this decline, trading at $26,376 within the same timeframe with a 7.4% decline in its price in the past 24 hours.The revelation that Elon Musk's SpaceX sold all its $373 million Bitcoin tokens sent the market into a frenzy, with retail traders dumping their tokens.
BREAKING: Elon Musk's SpaceX sold all its $373 million #bitcoin - WSJ
- Bitcoin Magazine (@BitcoinMagazine) August 17, 2023
However, despite the bearish outlook, some tokens still post modest gains due to exciting developments within their ecosystem and investors' sentiments.
Injective (INJ) - The Hub for Decentralized FinanceINJs price is $7.67, with a 6.7% increase in the last 24 hours. B. ut it has lost a negligible percentage of its price gains in the past seven days.On August 16, Injective announced the launch of INJ 2.0. It is a new upgrade that will increase the amount of INJ tokens burnt weekly.
Also, this upgrade enables any dApp on injective to contribute to burn auctions with no limit on the amount of their fees they choose to burn.
A decentralized Exchange, Astroport, also launched a native Injective portal where users can swap their favourite assets on the Astroport AMM DEX using the Injective interface.
Astroport has launched a native Injective portal!
Swap your favorite assets on Astroport's AMM DEX in one click with an Injective native interface.https://t.co/bw2R5fYssn https://t.co/zEIORw4gx5
- Injective
(@Injective_) August 16, 2023
Furthermore, an asset management protocol, the Black Panther, staked over 1 million INJ tokens with an injective validator leading the developers to hint at an upcoming airdrop for delegators.
And just like that, Black Panther joins the 7 figure club with over ONE MILLION $INJ staked with our validator
Huge shoutout to the @injective_ community for making this happen
If you delegate with size, we will airdropwithsize
https://t.co/sREZnmI45G pic.twitter.com/DCIwGeNVOi
- Black Panther (@BlackPanther_Fi) August 17, 2023
The main factor driving INJ's surge today is likely the integration of the Injective Mainnet, giving users access to dApps built on Injective with Trust Wallet.
Today @TrustWallet, one of the largest non-custodial wallets with over 60 million users, has integrated the Injective mainnet!
Now users can access dApps built on Injective with Trust Wallet while also being able to stake & transfer $INJ.https://t.co/JpQnQepVHM
- Injective
Also, they can stake and transfer these tokens with ease.With over 60 million Trust Wallets users, this collaboration will likely be a rallying point for the entire Injective Community.
INJ Rides Above Bearish Trend
Chart | Source: Tradingview.comINJ is an uptrend on the daily chart forming a green candle with a higher high. It trades above its 200-day Simple Moving Average (SMA), expressing a bullish sentiment in the coming days.
INJ found critical support at $6.91. It faces resistance at the $7.69 price level, and a break above it will send INJ above its 50-day SMA confirming the return of the bulls.
The Relative Strength Index (RSI) value is 46.99 in the neutral zone and rising to approach the overbought region of 70, showing a return of buyers to the market.The Moving Average Convergence/Divergence (MACD) also hints at a trend change to the upside.
Although the MACD is still below its signal line, it is rising, and the fading Histogram bars confirm that the bulls have returned.If the bulls sustain their charge, INJ will continue its rally to break above the $7.69 price.
Pax Dollar (USDP) - The Low-Risk StablecoinUSDP is trading with no significant gain in its price in the last 24 hours. It shed 0.2% of its gains in the last seven days.
USDP is a Stablecoin pegged to the value of the US Dollar; therefore, it does not deviate much from its peg. However, it is slightly below 1 dollar attesting to the prevalent bearish sentiment in the market.
USDP Showing Effects of The Bearish Trend
Chart | Source: Tradingview.comUSDP feels the effects of the bear market, with the selling pressure moving it close to the $0.95 support. It faces resistance at $1 but will likely reclaim it if the buyers regain market control.
The asset moves in the Donchian Channel (DC)'s lower region, representing a bearish market sentiment.Also, the RSI is dropping downward to the oversold region with a value of 45.27. It also reflects the rise in selling pressure for the asset.
Furthermore, the MACD has dropped below its signal line, and the red Histogram bars forming hint at a possible decline for the asset.However, its price drop will likely be minimal since it maintains its peg to the US dollar.
Sonik Coin (SONIK) - The Speedy MemecoinThe world if $SONIK was the global currency pic.twitter.com/ZSGEYubqjT
- SONIK COIN (@Sonikcoin) August 18, 2023
Sonik Coin is a new meme coin project to reward early investors despite market turbulence. It draws inspiration from the Sonik the Hedgehog series with similarities but no affiliations to the project.
Based on the whitepaper, Sonik wants to bring a lighting quick solution to move its growing community to attain a 100 million market cap target in record time.
However, Sonik is beyond a meme coin with a well-crafted plan to reward investors and create fun-themed memes. It is a community-focused project relying on its growing fan base to move the next meme coin revolution while earning exciting rewards.
Stake to Earn A Proof Of ValueSonik Coin relies on a staking system to preserve the value of its ecosystem. Users can stake tokens immediately after purchase, with 40% of the total supply dedicated to being distributed as rewards for $SONIK stakers.
These rewards are distributed over four years and calculated based on a user's percentage in a staking pool. Over 5.14 billion SONIK tokens are staked, with the APY at 466%.
Popular crypto analyst and blogger Jacob Crypto Bury analyzes this coin and its potential on his YouTube channel.The staking feature allows users to earn passive income and prevents the sudden sale of tokens after listing, thus preserving its overall value.
Sonic Coin staking is similar to Ethereum and is a less energy-intensive method of securing the ecosystem for rewards.
Roadmap and Tokenomics
Sonik Coin's roadmap is simple yet captivating, taking users on an exciting journey. The first stage covers token development, staking development, presales, and meme creation.
The second stage features the staking launch, marketing, and the Sonik Boom Sellout. The third stage is for community building, distributing staking rewards, and the ultimate goal of racing to a 100 million market cap and beyond.
SONIK has a total supply of 299.79 billion tokens, with 50% set aside for presales, 40% for staking rewards, and 10% liquidity. The total supply tallies with the value of the speed of light, reflecting the commitment to speedy success for the token.
SONIK Presale updateSONIK is on presale at a modest price of $0.00014, offering investors a prime opportunity to accumulate these tokens. Investors have raised over $147,000 from the presale target of $2.09 million.
Interested investors can grab the number of tokens they want with USDT or ETH from the presale page.SONIk will likely increase in value when it lists on exchanges after the presales, rewarding early investors.
yPredict (YPRED) - The Traders Cheat Code
yPredict is an analytical platform driving the Web3 revolution and the seamless integration of AI in crypto trading with an all-in-one ecosystem. The integration of AI technology in every aspect of life is a new trend observed in 2023 and fast gaining relevance in several forms of trading.
yPredict offers its users AI signals derived from top predictive models designed by the top AI experts worldwide. The yPredict platform is powered by Polygon and is fully audited and KYC-compliant.
Also, users can access chart pattern recognition and transactional data for deep analysis of crypto and stocks. The chart recognition tool identifies over 25 unique chart patterns providing sentimental analysis based on users' trading preferences.
Additionally, yPredict offers its users access to an elite marketplace where developers can market their predictive models for traders that hope to utilize them based on subscription.
Furthermore, yPredict utilizes an affordable AI-powered editor to streamline a user's workflow and generate vital keyword suggestions relevant to areas of interest.
All content is assessed and filtered to generate optimized content and save time. The backlink estimator accurately predicts backlink count and helps users stay ahead of the competition.
Why Buy YPRED?YPRED has the potential to reward its presale investors based on the vast utility of its ecosystem and extensive features. Users can also use the staking feature to receive up to 45% of staking rewards from the 10% of tokens paid for each new subscription on the platform.
Most platforms offer users between 5-10% APY, making yPredict a highly lucrative ecosystem for staking. Also, staking will prevent mass shorting of YPRED tokens, thus preserving its overall value.
Additionally, YPRED holders receive huge discounts on analytical tools in the marketplace and trading terminals.Also, users get free lifetime access to the predictive models available on the platform, which cost a minimum of $500.
From an economic point of view, YPRED tokens are close to one dollar at their present value compared to other projects with multiple decimals. It makes it easier for the value to surge and attain a minimum value of one dollar on the listing.
YPRED PresalesYPRED is on presale trading at $0.1, with a price increase of $0.11 coming up shortly. The token will eventually list at $0.12, with a likely price surge rewarding early investors.
The presales have raised over $3.50 million from its target of $4.58 million. Users can purchase these tokens with ETH, BNB, MATIC, USD, or bank cards.
YPRED has its total supply capped at 100 million tokens, with over 20,000 users on its waitlist showing massive interest from the crypto community.
Launchpad XYZ ( LPX) - The Elite Trading Platform
>>>Visit The Launchpad XYZ Presale
Launchpad XYZ is an innovative crypto platform poised to equip crypto traders with the right tool to profit from the next bull run and beyond.
Users receive value trading insights for the advanced Apollo AI available on the platform. This AI provides sentimental analysis, news, and relevant market insights to guide traders with different skill levels to profit from the volatile crypto market.
Also, users can take advantage of the Launchpad XYZ trading terminal that executes trades fast and at optimum market periods with no lag time.
It implies that Launchpad XYZ users will take advantage of major market moves relying on the fast trading platform available.Liquidity is also a top priority on the platform, focusing on attracting the top market liquidity providers to ensure sufficient liquidity is available to complete trades on Launchpad XYZ.
Relying on the AI, traders can quickly identify potential pump and dumps and rug pull projects. Users will have a more comprehensive understanding of market moves and price patterns.
Another striking feature is the learn-to-earn (L2E) mode. Users can use these modules to sharpen their knowledge of the crypto market and trading skills for rewards.
Also, the Launchpad Quotient (LPQ) will be a game changer. It is a modern and innovative ranking system that uses over 400 data points to gather information.The LPQ carefully analyzes social, market, and financial data to deliver a confidence and trust ranking on several assets.
LPX Presale
>>>Visit The Launchpad XYZ Presale
LPX is the AI token powering this revolution. It is on presale, and each token is worth $0.0445. LPX investors have committed over $1.33 million to the presales out of its target of $1.55 million.
The rapid accumulation further highlights rising investor interest in the tokens.The coins are available for purchase with bank cards, USDT, ETH, or BNB
Launchpad LPX RoadmapLaunchpad LPX has an exciting roadmap for its users. Q2 2023 covers the presale launch, contract deployment, Inside Edge Newsletter Live, signals on Telegram, and Web3 wallet launch.In Q3, 2023, the focus is on the news feed, token directory, Metaverse library, NFT directory, and gaming hub.
Q4, 2023 covers launching a decentralized exchange, token unlocks, presale directory, and the Learn with Launchpad XYZ modules. Finally, Q1 2024 features the Launchpad XYZ Quotient, A.I search for and trading terminal.
LPX will likely be one of the crypto gems in 2023 when it lists on exchanges based on its potential, utility, and exciting roadmap.Crypto investors can use the presales to accumulate LPX tokens ahead of a potential price increase when it lists for trading in the crypto market.
ConclusionA bearish market phase often creates fear and panic among traders and investors. However, it also presents the best opportunities to buy the dip' before another price increase.
Historically, the crypto market moves in cycles alternating between bullish and bearish phases, similar to the post-FTX state of the market.
However, traders and investors must apply caution and proper risk management techniques as volatile markets carry high liquidity risks.
Presale also offers investors a low-volatility option to diversify their holdings for potential price gains once the tokens list on exchanges. Research and proper analysis are vital tools for any trader to turn volatility into profit.
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