Top Crypto Gainers on September 6 – SNX, GMX, And LINK

The general crypto market cap on September 6 is $1.08 trillion. The major crypto asset, Bitcoin, trades at $25,581 within the same timeframe, with a slight decrease in its price in the last 24 hours. Also, it has declined by 6.4% in the last seven days, hinting at a bearish turn for the market.

But despite this decline, some altcoins still show bullish signs driven by progressive developments in their ecosystem and positive investor sentiments. SNX, GMX, LINK, BTCBSC, and WSM are among today's top performers.

Let's see the factors behind their bullish momentum.

Synthetix (SNX) - Top Decentralized Liquidity Protocol

SNX's price on September 6 trades at $2.34, representing a 5.7% increase in its price in the last 24 hours. Also, its price increase in the last seven days is 21.1%, confirming a return of the buyers.

Let's see the possible network-related events driving SNX price gains today.

Synthetix Version 3 Adoption Driving SNX Price Gains

Synthetic Version 3 is now live, creating a buzz in the crypto sphere. This multi-chain protocol surpasses most DeFi protocols because it easily syncs multiple networks.

A new hope. https://t.co/iVVRilqFEN

- kain.eth (@kaiynne) September 6, 2023

This upgrade promotes the vision of shared liquidity, where the SNX tokens can move seamlessly within several EVM networks. Utility drives an ecosystem's growth and likely promotes the price gains for SNX tokens.

SNX Trading Close To $2.35 Resistance

Source: Tradingview.com

SNX is in an uptrend, forming five consecutive green candles on the daily chart. Today's green candle formed a long upper wick that crossed the $2.35 resistance level as the bulls sought to continue the uptrend.

SNX has found support at the $2.14 resistance level, showing massive buying pressure for the token. Also, SNX is trading close to the upper region of the Bollinger Band (BB).

The expanding bands show that the buyers will likely continue in the accumulation phase.

The Relative Strength Index (RSI), with a value of 59.61, is rising out of the neutral zone and approaching the overbought region of 70. If SNX crosses the $2.35 resistance level, it will rise to the overbought zone.

The Moving Average Convergence/Divergence (MACD) rises above its signal line, displaying a buy signal confirmed by the green histogram bars. SNX will likely continue on its positive price movement in the coming days.

GMX (GMX) - Top DEX For Perpetual and Futures Trading

GMX's price on September 6 is hovering around $33.4, with a 2.6% increase in the last 24 hours.

Despite the slight gains today, GMX has shed 11.7% of its price gains this week, a sign that the sellers are still active in the market. But even at that, some network developments are poised to change the trend to the upside.

GMX Version 2 Beta Launch Likely Driving Price Gains

GMX's launch of the Beta version on Arbitrum is likely contributing to its ecosystem gains.

GMX V2 beta is Live on @Arbitrum and @Avax!

-> https://t.co/03RhM4LBou

- New assets are available for trading
- Multiple collateral types can be used
- Faster execution speed & lower slippage
- Low-fee swaps and trades
- Isolated pools
- OI balancing and Swap incentives

1/5 pic.twitter.com/Q8QDdd0686

- GMX (@GMX_IO) August 6, 2023

New assets are now available for trading, and several collateral types can be used. Also, it features faster execution of trades with speed and lower slippage.

What opportunities does @GMX_IO V2 bring and how to capitalize on them? Last week's Twitter Spaces brought insider info from experts.

A quick thread on key takeaways.

More insights in the article: https://t.co/oGx6jKVtFr

- Solv Protocol| token2049 (@SolvProtocol) September 4, 2023

According to the developers on September 4, they closely evaluated risks, opportunities, and possible issues with version 2 to safeguard users' funds.This development will likely sustain the price gains of GMX moving forward.

GMX Still Under Pressure from Sellers, Will it Reverse?

Source: Tradingview.com

GMX shows signs of a slight recovery, forming two consecutive green candles on the daily chart. However, the small size of the candles suggests that trading activity for the asset is limited.

GMX faces bearish resistance at the $34.2 price level after finding support at $31.4. It trades close to the lower Bollinger Band, confirming that sellers are active in the market and attempting to force further price decline for the asset.

The RSI value is 31.62, close to the oversold region of 30 but rising, confirming a return of the bulls in the market.The MACD above signal line suggests that the buyers will likely rally soon. Also, the green Histogram bars, which are gradually forming on the chart, support this prediction.

However, a break above the $34.2 price level will serve as a confirmation for further price increases.

Chainlink (LINK) - The Smart Contract Layer

LINK trades at $6.17, slightly increasing 1.1% in the last 24 hours. Also, its price gain in the last week is 1.9%, showing moderate buying activity for the asset.

But while LINK shows negligible price gains, recent developments on the network could attract more investors, changing the price trajectory.

NFT Marketplace LooksRare Integrate Chainlink VRD To Select Winners for YOLO On-chain Raffle Boosting Utility

On September 4, Chainlink announced the integration of the Chainlink Verifiable Random Function (VRF) to the looksRare NFT platform. The aim is to ensure that the winner selection in the raffle will be fair and transparent.

This integration is vital in preventing manipulation, maintaining data integrity, and ensuring transparency on the platform.

It is a source of cryptographic proof promoting trust and fairness within the ecosystem. Such a utility will likely boost the price of LINK tokens in the coming weeks. Lekker Finance also announced the integration of Chainlink's CCIP as the industry standard for cross-chain interoperability to their platform.

According to Lekker Finance, Chainlink has a proven track record of keeping the highest standard of security and reliability in the crypto industry.This recommendation will likely attract more users to the LINK ecosystem and boost its price.

LINK Approaching The $6.3 Resistance Level

Source: Tradingview.com

LINK shows a bullish momentum on the daily chart, evidenced by the second green candle. The asset found critical support at the $5.9 price level and approached the $6.3 resistance level. A break above this level will confirm the uptrend for the asset.

The RSI value is 45.96, rising out of the neutral zone as the buyers mount more pressure on its price. Also, the MACD is rising above its signal line, displaying a buy signal, and the green Histogram bars confirm the shift to a more positive sentiment.

However, LINK is still below its 50-day and 200-day Simple Moving Averages (SMA), displaying a bearish sentiment in the long term.LINK will likely continue to trade in the neutral zone until it breaks above the $6.3 resistance level.

Bitcoin BSC (BTC BSC) - The Next Crypto Revolution

>>>VisitBitcoin BSCPresale

Bitcoin BSC is a project that relies on Smart Chain BSC to give crypto investors a second chance to join an ecosystem similar to Bitcoin's, although unique in its own right.BTCBSC, a BEP-20 token, is the utility token that powers activities on this platform and unlocks exciting benefits for holders.

Bitcoin BSC deviates from the old proof-of-work reward model, emphasizing staking as an eco-friendly method of rewarding its holders and investors.

It also matches the total supply and price range of Bitcoin in April 2011, giving users another opportunity to join a similar project.

BTCBSC offers a viable alternative at $0.99. Also, Bitcoin BSC relies on Smart Chain BSC based on its features that make the project more effective.

Smart Chain BSC is the preferred transaction network for most users based on lower costs from gas fees and speed compared to Ethereum. The low cost is quite beneficial to the Bitcoin BSC ecosystem.Also, users can easily access BTCBSC through dApps such as Trust Wallet and MetaMask.

Presales And Tokenomics Show Promise

>>>VisitBitcoin BSCPresale

BTCBSCs total supply is capped at 21 million tokens, sharing similarities to Bitcoin and likely to create scarcity, thus boosting its value. 6.125 million of these tokens are dedicated to the presales.

Also, the soft cap is 4 million tokens, and the hard cap is 6.125 million. BTCBSC buyers can only process a minimum purchase of $10 tokens.

The presale is in two phases. The initial phase targets the soft cap of 4 million tokens as its goal, with each token worth $0.99.Also, the secondary phase covers the sale of an additional 2.125 million BTCBSC tokens to attain the hard cap value of $6.125 million.

Interestingly, all leftover tokens after listing will go to the Bitcoin BSC staking contract to retain the fixed supply of 21 million.Users can purchase BTCBSC with ETH or USDT ERC-20 or use BNB or USDT (BEP-20) or a card.

When the presales end, all purchases made through the ETH contract address will move to the BNB presale contract, while token claims will proceed on the BSC network.

BTCBSC will likely experience a price surge once it lists on exchanges and rises in global adoption.

Staking and Its Benefits To BTCBSC Holders

BTCBSC holders can opt for a buy and stake feature to enjoy additional rewards. Its rewards schedule closely mirrors Bitcoin's 120-year issuance plan.

Also, BTCBSC maintains a similar block confirmation process to Bitcoin, although both projects are not affiliated. Participants earn rewards directly proportional to their stake in the staking pool and the present APY.

This incentive framework promotes decentralization, community engagement, and growth.Bitcoin BSC staking eliminates the heat and power consumption of other old models that rely on the proof-of-work (PoW) mechanism.

Wall Street Memes (WSM) - The Community Revolution Against Capitalism

>>>Visit Wall Street Memes Presale

Wall Street Memes is a meme coin-themed revolution against rampant capitalism promoting the internet's triumph against monopoly.

Based on the whitepaper, the goal is to empower retail traders and force a change in the traditional financial landscape.Wall Street Memes relies on fun memes to unite its community to embark on the journey of financial freedom.

Ecosystem Tokenomics

Wall Street Memes tokenomics dedicate 50% of the total supply to marketing endeavors, 30% to community rewards, and 10% to centralized exchange liquidity. Also, 10% will provide liquidity on decentralized exchanges.

WSM ecosystem is transitioning from just meme coins to feature utility such as staking and NFT projects.

>>>Visit Wall Street Memes Presale

WSM features a buy and stake feature to curtail inflation within its ecosystem and promote the long-term value of WSM tokens.Also, WSM operates on Ethereum's network, making it ERC-20 compliant.

The staking feature resembles Ethereum's staking as an eco-friendly method of offering users additional rewards.

On September 6, approximately 284 million WSM tokens were staked, a signal of rising interest from investors in the project.WSM tokens are staked at an APY of 70%, a massive reward rate driving the surge in staking on the platform.

Also, staking rewards are distributed based on an investor's percentage of tokens committed to the staking pool and the APY at the time.

WSM Presale Ending in Less Than A Month

WSM presale is advancing rapidly, with just 20 days left to its conclusion and its eventual listing on Tier-1 crypto exchanges. The presale has raised over $25 million, signaling a growing interest in the crypto community.

1 WSM token is worth $0.0337, and users can purchase the tokens by connecting a secure crypto wallet and completing the process with ETH, BNB, or USDT. Also, there is a bank card purchase option available for users.

Wall St Bulls NFT Another Factor Boosting Value

The Wall St Bulls NFT collection is another valuable investment within the ecosystem, allowing users to diversify their investments. The Wall St Bulls collection houses 10,000 unique NFTs on the Ethereum blockchain.

Users who hold these NFTs can trade in the Option Market with their bulls for profit. Additionally, these bulls give users access to free NFT collections belonging to the WSM project, such as The Wall Street Assets and Interns.

Wall Street Memes has plans to unveil a merchandise store soon where users can represent the brand with crested caps, T-shirts, sweatshirts, and mugs. This clothing line will also increase fun and unity in the community.

After the exchange listing, the focus is on community empowerment initiatives. Users can access an exclusive Gated Community for additional benefits such as quality updates and interactions.

Next, the focus will shift to achieving a market cap of $1 billion to reward investors and unlock the true strength of the community.

The developers will also boost liquidity and increase global reach and adoption to make the Wall Street Meme ecosystem grow rapidly.

Conclusion

The top gainers on September 6 showed remarkable resilience to rally above the general market decline.Some risk-averse investors might opt for presale tokens to diversify their portfolios and purchase tokens before a potential price increase.

However, investors must understand that all crypto assets carry associated risks, and traders must conduct research and apply risk management techniques.

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