Top Crypto Gainers on September 5 – SFP, MKR, And XLM
Today, the global crypto market has a total value of $1.08 trillion, with a 0.48% decline in the past 24 hours. Bitcoin trades at $25,771 within the same timeframe, with a 0.6% decline in its price in the last 24 hours. BTC is down 0.8% in the past week, struggling to return to the $26,000 price.
But amid this bearish outlook, some altcoins show positive price movement. These altcoins rely on positive investor sentiments and exciting developments within their ecosystem to record price gains.
Here are the top gainers for September 5 and their next possible price moves in the coming days.
SafePal (SFP) - The Secure Crypto Wallet ProviderSFP's price on September 5 is $0.58, with a 3.1% increase in the last 24 hours. Also, it has gained 16.4% in the last seven days, confirming a rise in buying pressure for the token.
But what are the factors driving the gains today?
On September 1, SafePal announced the launch of a limited edition of a co-branded wallet in collaboration with the Klatyn Foundation.
This collection contains 300 co-branded hardware wallets with uniquely numbered NFTs reaffirming the mutual commitment of SafePal and Klatyn Foundation to boosting crypto security and user experience.
According to the announcement, these wallets cost $49.99 with free global shipping available. This collaboration is likely driving the price gains for SFP this week. \
SFP Forms Golden Cross as Buyers Maintain Pressure, Will the Rally Continue?
Source: Tradingview.com
SFP is in an uptrend on the daily chart, recovering from the slight retracement on September 4 to form a green candle today.It trades above the 50 and 200-day SMAs, indicating a bullish sentiment and buyers' dominance.
The Golden Cross formed on September 1 confirms that the asset's price will likely continue increasing.Also, the Relative Strength Index (RSI) indicator displays a value of 65.61 and rises as it approaches the overbought region of 70.
This implies buyers can still profit as the RSI will likely continue until it enters the overbought region.The Moving Average Convergence/Divergence (MACD) displays a strong buy signal confirmed by its green Histogram bars.
SFP pivoted off the $0.50 support level to move into its uptrend and is presently trading at the $0.58 resistance level. A break above this resistance level will send it into the overbought region.SFP will likely continue its rally until the buyers retreat and it moves into a consolidation phase.
Maker (MKR) - The Top Governance and Finance DAO
MKR trades at $1,122 with no tangible price increase in the last 24 hours.However, it is up by 10.0% in the last seven days, suggesting the presence of the buyers despite the price indifference today.
The recent decision by MKR co-founder and its consequences might be affecting MKR's price till today.Notably, on September 1, MKR co-founder Rune Christensen stated that MakerDAO will explore a fork to the Solana codebase for NewChain, a unique blockchain built by MakerDAO.
The last phase of Endgame is the launch of a native blockchain for Maker with the codename NewChain
It will make the ecosystem more secure and efficient
After some research, I believe the Solana codebase should be considered as the basis for NewChainhttps://t.co/KyGxBBGlVH
- Rune (@RuneKek) September 1, 2023
This decision created shockwaves in the crypto sphere since MakerDAO has close ties with Ethereum and was expected to rely on the Ethereum virtual machine.
Possibly reacting to this development, Ethereum co-founder Vitalik Buterin sold 500 MKR, approximately worth $581,000, through CoWSwap for 350 ETH. This whale movement is likely influencing MKR's Price.
Bears At $1176 Resistance Level Intent on Limiting MKR
Source: Tradingview.com
MKR shows signs of a possible decline, forming five consecutive red candles on the daily chart. The bears at the $1176 price level are determined to limit their price gains.
MKR is trading close to the $1110 support level as the buyers attempt to re-enter the market. However, it is still in the upper region of the Donchian Channel (DC), hinting at a possible recovery for the asset.
Also, the RSI is moving sideways, displaying a value of 51.53 in the neutral zone. It implies that the buyers and sellers are evenly matched in the market, and the price could go either way.
Although the MACD is still above its signal line, its fading green Histogram bars suggest that the bears might force a decline below the $1110 support.MKR will likely rally again if the bulls sustain it above the $1110 support level in the coming days.
Stellar (XLM) - The P2P Decentralized Network
XLM's price on September 5 is $0.12, with a 1.3% increase in its price in the last 24 hours. Its price is up 7.6% in the last seven days, confirming a rise in bullish pressure for the token. This recent upsurge could be linked to the suspense created by network developers recently.
In a Tweet on September 2, Stellar stated that something exciting is coming to the ecosystem in ten days.This announcement filled the community with excitement, anticipation, and increased interest, possibly driving the asset gains.
Notably, by September 12, this announcement will be unveiled.
XLM Approaching $0.129 Resistance
Source: Tradingview.com
XLM is in an uptrend on the daily chart, forming a third consecutive green candle on the daily chart.The upper wick of the candle is touching the $0.129 resistance level after pivoting off the $0.112 support.
Also, XLM is close to the upper band of the Bollinger Band (BB), hinting at a possible price increase ahead.The RSI indicator is in the neutral zone, displaying a value of 52.03 and rising as it attempts to enter the overbought region. If the RSI moves to 55, the buyers intend to uphold the rally.
The MACD is slightly above its signal line, showing a weak buy signal as the green Histogram bars confirm increased buying pressure.XLM will likely hold onto its gains in the coming days if the bulls break above the $0.129 resistance level.
yPredict (YPRED) - The Trading Solution
yPredict is an all-in-one AI ecosystem built for developers, quantitative analysts, traders, and developers.It relies on advanced AI technology to provide quality trading signals for traders, which gives them a reasonable success rate in trading.
Crypto trading is advanced, and retail traders often compete against trading bots and large institutions. yPredict gives traders an edge with deep analytics and automated chart pattern recognition.Also, it suggests the best indicators for traders based on past success, saving time, and ensuring optimal trading.
yPredict is not limited to crypto analytics but provides reliable data for stock traders, making it versatile.Also, there is a unique marketplace for Machine Learning (ML) developers to offer their predictive models to other users and earn from subscriptions.
It serves as a passive income channel for these developers, boosting the overall value of the ecosystem.yPredict analytics goes beyond the surface, with the yPredict Editor providing key world suggestions for AI-backed searches on the platform.
yPredict operates on the Polygon blockchain, has its total supply capped at 100 million tokens, and is fully audited and KYC verified.
YPRED Presales
YPRED is the utility token powering all activities on this platform. It is in its seventh presale stage, with each token worth $0.1.
Over $3.71 million has been raised out of the goal of $4.58 million. The next stage will move the price to $0.11, an 11.11% increase granting paper rewards to early investors. YPRED will list at $0.12 and likely see a price surge after its listing.
Users can purchase these tokens with ETH, MATIC, BNB, USDT, or bank cards when they link their secure crypto wallets to complete the purchase.
Staking Adds Value to YPRED Tokens
YPRED supports a buy and stake feature where users can stake their YPRED tokens after purchase.
Users who stake their tokens receive a share of the 45% quarterly staking rewards from 10% of the tokens paid on each new subscription on the platform.This feature preserves the long-term value of YPRED tokens since users will not short the tokens immediately after listing.
Additionally, YPRED holders benefit from massive discounts for services such as the marketplace, analytical tools, and prediction platforms. Also, platform payments are made with YPRED tokens, adding to its value.
With Over 20,000 users on the waitlist and regular features on top news sites such as Yahoo! Finance and Crypto News, yPredict is primed for success in the crypto sphere.Investors should take advantage of the present price before a price increase for the tokens by the next presale stage.
Launchpad XYZ (LPX)- The Hub of Analytics and Development
Launchpad XYZ is a Web 3 platform that provides vital analytics and insights for traders relying on its advanced Apollo AI technology.It gives traders an edge in the crypto market, giving them the right strategies for profitable trading.
Launchpad XYZ will create a trading terminal where traders can capture the high-speed moves of the crypto market to make a profit.Additionally, the platform offers users learning opportunities with rewards for completing the training and learning modules.
Launchpad XYZ has a functional Telegram account where users can access signals for quality trading.Also, its exciting roadmap promotes a community-based approach to development in the ecosystem.
LPX Presale
LPX, the utility token of this platform, is on presale with a 19% bonus for early investors ending in the next few hours.Over $1.58 million has been raised from the presale, indicating massive interest from investors for the token.
1 LPX is worth $0.0445, which is quite affordable and offers investors the best chance to accumulate the tokens ahead of a potential price surge after listing.
Users can purchase these tokens with ETH, BNB, USDT, or bank cards when they connect their secure crypto wallets to complete the purchase.
ConclusionToday's top gainers defy the general bearish sentiment, rallying based on rising pressure from the buyers.Also, positive developments in an ecosystem help a token's price movement alongside other external factors that affect the general market.
Risk-averse investors can diversify with presales to take advantage of a coin before its potential listing on exchanges.However, note that crypto investments come with risks, and proper research and risk management techniques are vital to prevent unnecessary losses.
Also, crypto investors must apply the golden rule never to risk more than they can afford to lose, no matter how certain the investment looks.
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