Top Crypto Gainers on September 28 – COMP, BCH, And MKR
In Q4 2023, the crypto market has settled in a total market cap range slightly exceeding 1 trillion. Meanwhile, Bitcoin continues to dominate the crypto market due to its large market cap.However, September ushered in a period of price volatility for Bitcoin and other crypto assets.
Nevertheless, some cryptocurrencies are rallying amidst the market chaos based on exciting developments.Here are the top gainers today, September 28, and a brief analysis of their next possible price moves.
Compound (COMP) - The Decentralized Ethereum-Based Protocol
COMP's price on September 28, at 8:17 am EST, is $44.5, with a 9.1% increase in the past 24 hours. Also, COMP is up by 11.4% in the past seven days, confirming increasing buyer pressure.COMP's price gains could result from its drive to accommodate builders with exciting programs.
Compound Grants will be awarding $5,000 to the best integration of Compound III at #ETHGlobalNewYork this weekend
Get all the details in our docs and workshop video:https://t.co/tJdZC1kZct
- Compound Governance (@compgovernance) September 21, 2023
On September 21, Compound Governance announced that the Grants program would award $5,000 to the best integration on Compound III.
Compound Grants is a program run by the Questbook team that provides grants for builders in the community.Consequently, Compound Governance announced that GreenYield won the $ 5,000 prize.
This prize was handed out at the Ethereum Global event last week in New York.Compound's utility in DeFi will likely attract more builders, thus boosting COMP's price.COMP is gaining on the daily chart as more buyers open long positions, increasing prices.
COMP Buyers Set Sights On Overbought Region
COMP is in an uptrend on the daily chart, forming a second consecutive green candle. Also, the buyers have broken above the $43.8 resistance level after pivoting off the $38.9 support level.However, if today's closes above the $43.8 resistance, it will confirm a strong buy trend.
Meanwhile, COMP is close to the upper band of the Donchian Channel (DC), confirming that the buyers are in control.The Relative Strength Index (RSI) displays a buy signal of 63.3. Also, the RSI indicator is rising as it approaches the overbought region of 70.
In addition, the Moving Average Convergence/Divergence is bullish, rising above its signal line. Further, the green Histogram bars formed yesterday and today confirm a surge in buying activity.COMP will likely rally to the overbought zone above 70 in the coming days before retracing for consolidation.
Bitcoin Cash (BCH) - The Top permissionless Open Network
BCH traded at $234.8 on September 28, 8:21 a.m. EST, with a 1.4% increase on its price in the last 24 hours. Also, it is up 13.0% in the last seven days, confirming buyers' dominance in the market.
BCH's gains can be attributed to the impressive developments recorded within its ecosystem.
Bitcoin Cash Weekly News September 25 2023 by the Bitcoin Cash Foundationhttps://t.co/3xWIoaaEqH pic.twitter.com/0B4hh2shxZ
- Bitcoin Cash Foundation (@BCHF_ORG) September 25, 2023
First, the Pataca wallet team launched their CashToken Studio app for beta testing. According to the announcement, users interested in creating their tokens or NFTs with the creation studio can visit their website.
Also, the automated game night tool A Fifth of Gaming hosted a competition with a $750 BCH prize pool up for grabs.At the end of the contest, the winner received 1.2BCH, boosting the utility of the tokens in the ecosystem.
Additionally, fix the tracking recently launched a funding campaign of 41.84 BCH to expand BCHFAQ.com. This website features long-form content that drives traffic and informs users about BCH projects.
All these projects center around BCH tokens and boost their utility, which likely translated to price gains in the past week.As such, BCH displays a strong buy trend on the daily chart as more investors accumulate the tokens.
BCH Enters Overbought Zone as Buyers Sustain Pressure
BCH is in an uptrend on the daily chart, forming its fifth consecutive green candle after flipping the $214.9 resistance to support.Also, it has broken above the $229.9 resistance level as the buyers continue to trade long positions.
Additionally, the Parabolic SAR expresses a bullish sentiment, moving below the candles to confirm that buyers are in control.The Stochastic Oscillator shows that the asset is already in the overbought zone. The Stochastic Oscillator's fast RSI displays a value of 87.7 and is still rising as buyers accumulate.
The MACD is still above its signal line, displaying a buy signal. This signal is confirmed by the green Histogram bars. Based on these indicators, BCH will likely continue its rally in the coming days.
Maker (MKR) - The Smart Contract Platform
MKR's price on September 28, at 8:26 am EST, is $1,523.5, with a 5.0% increase in the last 24 hours. Also, its seven-day gains stand at 16.1%, with a generally positive price performance in September.One of the factors driving MKR's price gains is the proposal to deploy Spark Protocol on the zkSync Era Mainnet.
In case you missed it:
A new proposal has been put forth to deploy @spark_protocol on zkSync Era Mainnet.
It includes wETH, rETH, wstETH, and DAI as initial collaterals and setting a 2 million DAI liquidity goal to kickstart Spark's growth on zkSync.
- Maker (@MakerDAO) September 21, 2023
According to the proposal, Spark Protocol is vital in the DeFi ecosystem and boosts the demand.Also, it is EVM compatible and supports generalized EVM smart contracts, making it easy to deploy dApps.It will bring certainty of security to the ecosystem, not probability.
Remarkably, the minimum target size for Dai liquidity will be $2 million to boost the growth of Spark on the zkSync.This improvement proposal and others have shown a positive ripple effect on MKR's price on the daily chart.
MKR Breaks Above $1433.2 Resistance Level as Crypto Buyers Sustain Uptrend
MKR continues its uptrend on the daily chart by forming another green candle to consolidate its gains.Also, it pivoted off the $1353.6 support to break above the $1433.2 resistance level, leading to a continuation of the uptrend.
Furthermore, MKR is trading above its 50-day and 200-day Simple Moving Average (SMA), confirming the bullish sentiment for the token.Remarkably, buyers who opened long positions yesterday are already in profit. The RSI indicator is in the overbought region with a value of 75.8, rising as the buyers dominate.
MKR will likely hold onto its gains in the next few days. However, a retracement is likely if buyers begin to make a profit.While these crypto assets rally, users can take advantage of the meme coin season, with Meme Kombat setting the pace.
Meme Kombat (MK) - The Memecoin Gaming Ecosystem$MK | Meme Kombat is an innovative new gaming platform designed for gaming enthusiasts. #GameFi sector is growing, so it is worth checking
Devs are doxxed on website, presale is ongoing and they already raised $100K+ | Check details below
and Dyor@Meme_Kombat
TG:... pic.twitter.com/wNlFytuOEC- $SHIB KNIGHT (@army_shiba) September 27, 2023
Meme Kombat is an exciting blockchain project that seamlessly unites creative memes and gaming.Also, it relies on the secure and decentralized blockchain technology of the Ethereum network for efficiency.
Additionally, its native token, MK, gives users access to the full benefits of the ecosystem. These benefits include:
- Automated Battles:With MK tokens, users can access the platform's automated battles with all outcomes determined on-chain.
- Wagering: MK holders can wager their tokens to predict the outcome of battles. Players who predict correctly will win impressive prizes that include extra MK tokens.
- Staking Rewards: MK holders can stake their tokens for passive income depending on the APY at the time.
MK tokens are available on presale on the official website with a hard cap target of $10 million.Each token is worth $1.667 in the presale, with a price increase likely after listing.
Users can purchase MK tokens with ETH or USDT when they connect a secure buy wallet on the BSC Smart Chain.According to the tokenomics, MK has a total supply of 12 million tokens, with 50% (6 million) allocated to the presale.
Tokens purchased during the presales are automatically staked for the purchasing wallet to earn rewards.However, users must re-stake all available tokens for at least one locking period to qualify for the staking rewards.
Users can re-stake their tokens after the presale to claim staking rewards. However, users who opt to remove their tokens from staking immediately after the presale will forfeit any APY rewards.
Staking in this ecosystem covers several vital areas, such as allocation, where users decide the amount of MK they wish to stake. Notably, 30% of the MK supply is dedicated to staking and battle rewards in the ecosystem.
Betting Adds Utility To Meme Kombat Ecosystem, Promoting Long-Term Potential
Betting is a fun activity within the Meme Kombat ecosystem, with various options available to users.
- Player vs Player (PvP) betting
This option lets users bet directly against each other, making it more personalized. Also, this mode applies to general and high-stakes battles with users determining the level of risk exposure.
- Player vs Game (PvGame) Betting
In this mode, users wager on the outcome of battles against the game in specific events. Interestingly, this mode incorporates odds, making the winnings vary based on the chosen odds.
- Direct Betting
Direct betting enables participants to wager on specific battles or characters. Also, it offers users a more direct method of engaging in the game and earning prizes based on the battle results.
- Side Action Betting
This mode focuses on several aspects of the battle, such as betting on unique battle events. It makes users go deeper into the game mechanics and find creative ways to wager.Meme Kombat represents an innovative mix of blockchain technology, AI, and community-based gaming.
Based on its marketing strategy, digital campaigns, quality partnerships, and seasonal promotions will be a priority.Also, its utility and passive income staking model make it have long-term relevance and appeal to investors.
ConclusionThe crypto market records slight gains today despite the volatility in the past week. Also, some Altcoins record gains today based on progressive developments in their ecosystem and increased trade activity.
Exciting presales such as Meme Kombat allow investors to join a project before a potential price surge. Nevertheless, investors must conduct proper research and risk management to minimize losses.But since staking is gaining relevance, green cryptocurrencies that support such features are worth considering.
The post Top Crypto Gainers on September 28 - COMP, BCH, And MKR appeared first on The Tech Report.