Top Crypto Gainers on November 1 – SOL, THETA, And XRP
The crypto market has maintained the positive momentum from October 2023 to continue its rally today, November 1. While a retracement could occur at any time, the buyers seem determined to continue the rally.
Historically, the crypto market suffered a massive decline in November 2022 after the collapse of the FTX crypto exchange. However, given the latest strides, the market will likely continue its bullish trend in 2023 despite its historical performance.
Given the ongoing bullish momentum, several cryptocurrencies posted notable gains. Today's top gainers rely on the prevailing bullish market sentiment and noteworthy developments in their ecosystem.
Solana (SOL) - The Decentralized Scalable Network
SOL is trading at $38.4 on November 1 at 4:37 am EST, with a 6.1% increase in its price in the past 24 hours. It has gained 24.3% on its worth in the last seven days as the bulls continue to rally, hoping to break above $40.
Notably, Solana's ongoing Breaking Point event is making waves in its ecosystem, leading to its price gains.
1/ What a kickoff for #Breakpoint2023!
Google BigQuery live
Solana is integrated with AWS Node Runner
@jump_firedancer live on testnet
Immaculate vibes, art, and connections made
And so, so much more by the Solana community. pic.twitter.com/FqKOP9ZxUC
- Solana (@solana) October 31, 2023
One of the event's highlights was the integration of Google BigQuery on the Solana network. This integration will help developers streamline access to comprehensive historical data.
2/ Thanks to BigQuery's seamless integration with Solana, developers now have streamlined access to comprehensive historical data.
Work with and analyze over 215 billion transactions, more easily integrating your applications with Solana data.
- Solana (@solana) October 31, 2023
Also, Google BigQuery finds practical applications in the NFT marketplace for details on NFT transactions on the network. Users can analyze over 215 billion transactions, easily integrating their applications with the Solana data.
Also, GameShift Beta is live for game lovers, merging Web3 assets into gameplay. With GameShift Beta, users can process payments in USD and rely on a non-custodial wallet for asset control.
Additionally, an in-game marketplace will eventually launch that supports Global card payments.
Meanwhile, Solana nodes are available for quick deployment on Amazon. These nodes will be beneficial to Web3 projects and dApps.Remarkably, Solana is the only blockchain besides Ethereum supported by Blockchain Node Runner.
The improvements in Solana's ecosystem are evident on the daily chart as SOL has formed four consecutive green candles.
SOL Approaching $40 After Breaking Above $35.15 Resistance Level
SOL continues its positive price form on the daily chart after flipping the $35.15 resistance to support. Also, SOL is testing the $38.90 resistance level, and a break above it will send SOL to $40. In addition, the Relative Strength Index (RSI) indicator is in the overbought region above 70, displaying a value of 82.03.
Furthermore, the Moving Average Convergence/Divergence (MACD) indicator is above its signal line and displays a strong buy. Also, the green Histogram bars suggest that the buyers are still intent on upholding the rally.
Based on the indicators, SOL will likely overcome the $38.90 resistance level to trade at $40 in the coming days.However, SOL will likely retrace from the overbought zone in the coming weeks once the buyer begins to close their positions.
Theta Network (THETA) - The Blockchain-Powered Streaming Platform
THETA price on November 1, at 4:39 am EST, is $0.76, with a 10.5% increase in the past 24 hours. Additionally, THETA has gained 17.5% on its price in the past seven days, confirming dominance from the buyers for the asset.
Notably, Theta Network developers announced a partnership with FEDML AI for AI and tech innovations. This partnership is likely driving the price gains for the THETA token.
We've partnered closely with @FEDML_AI to drive AI & tech innovation to new heights.https://t.co/WxvmLNFJ2R
- Theta Network (@Theta_Network) October 27, 2023
According to a press release by Businesswire.com, Large Language Models (LLMs) are gaining relevance alongside other AI applications. Therefore, developers are interested in a practical method to find the best GPU resources and minimize costs.
So, the FEDML Nexus AI provides a GPU marketplace for AI development. Also, users have access to a Machine Learning (ML) job scheduler and GPU manager. These exciting features will likely drive more users to the Theta Network and boost THETA's price.
On the daily chart, THETA has formed five consecutive green candles, confirming an ongoing accumulation.
THETA Testing The $0.83 Price Level: Will It Break Above $0.75?
THETA is in an uptrend on the daily chart as the buyers rally to the $0.75 resistance level after finding support at $0.72.Also, the upper wick of the November 1 candle is testing the $0.83 price level, and a break above the $0.75 resistance will continue the uptrend.
Additionally, THETA is trading close to the upper band of the Donchian Channel (DC), expressing a bullish sentiment that will likely extend till the coming days.Furthermore, the RSI at 77.3 confirms the buyers' dominance. Since the RSI is still rising, THETA will likely record further price gains in the coming days, with $0.83 as its next target.
XRP (XRP) - The Financial Ledger
XRP's price on November 1, at 4:46 a.m. EST, with a 4.8% price gain in the last 24 hours. Also, XRP is up by 9.0% in the past week, reflecting the positive trend in the crypto market.
Ripple Labs continues to build on its positive price gains from October 2023 with exciting developments in its ecosystem.These developments include a new partnership announced on October 24 with Uphold to boost their liquidity infrastructure.
BIG NEWS: @Ripple Forges New Partnership with Uphold to Enhance Underlying Crypto Liquidity Infrastructurehttps://t.co/1gJh95KDTQ pic.twitter.com/FLSDQxO0co
- Uphold (@UpholdInc) October 24, 2023
Ripple's Partnership with Uphold will also aid its cross-border payment framework due to the liquidity boost.According to Ripple Lab's Head of Payments Product, Pegah Soltani, the new partnership will enhance the financial infrastructure and deep liquidity.
Also, He expressed optimism about the relationship between the two companies moving forward.Additionally, the CEO of Uphold, McLaughlin, stated that Ripple provides users with an essential financial channel for cross-border payments.
Ripple now serves customers in over 55 countries, with approximately $3o billion processed in 20 million transactions since its launch.This partnership is likely aiding XRP's price gains and its global adoption in the crypto community.
Also, Ripple Labs posted its Q3 report for 2023, showing significant milestones attained by the network. Summarily, over 90.44 million transactions were processed within the third quarter, with over 243,000 XRP burned for transaction fees.
Additionally, the average cost per transaction remained affordable at $0.00269, with over 157,000 new wallets recorded on the network. Meanwhile, the average closing price in USD for XRP is $0.55 within this quarter.
These metrics reveal that XRP enjoys remarkable ecosystem growth despite controversy and setbacks from the US SEC allegations over the years.On the daily chart, XRP has formed its fifth consecutive green candle to confirm a surge in buying pressure.
However, it faces resistance at the $0.60 price level as it attempts to finish 2023 positively.
XRP Facing Resistance As It Approaches $0.60 Price Level, What Next?
XRP is in a sideways trend on the daily Chart, facing stiff resistance at the $0.59 price level. Notably, XRP found support at $0.58 on October 31 but is under pressure from sellers at $0.59, preventing a further rise to $0.6.
Despite the resistance, XRP's candles are above the Parabolic SAR indicator, suggesting that the buyers are still dominant.However, the RSI indicator is in the overbought region with a value of 74.92 and moving sideways, suggesting a possible trend shift.
Therefore, XRP will likely record a brief retracement for consolidation before overcoming the $0.59 resistance level if the bulls rally again.
Meme Kombat (MK) - The Fun Community For Exciting Rewards
For those interested in crypto gaming or gambling, Meme Kombat is the answer. It offers users an AI-powered gaming platform to compete against each other with several memes and wager on the outcome of battles.
Unlike other meme coin ecosystems that lack true utility, Meme Kombat is a hub of on-chain activity with staking as an additional feature for rewards.
Meme Kombat Crosses $1 Million Milestone, Confirming Rising Investor Interest.WE DID IT FIGHTERS!
We reached $1 MILLION in our presale raise
pic.twitter.com/SvCu1zoj36
- Meme Kombat (@Meme_Kombat) November 1, 2023
Meme Kombat's utility token, $ MK, is on presale with over $1 million raised out of its goal of $1.5 million.Also, each MJK token is worth $0.1667, with one day left for a price increase for the tokens.
Users can purchase these tokens with ETH or USDT to access the full benefits of the platform.
Quality Meme Kombat UpdatesAlso, crypto analyst and Vlogger Jacob Crypto Bury highlighted the upcoming price increase for MK tokens and the recent whitepaper update.According to the Whitepaper, MK tokens will increase to $0.183 on November 2, 2023, with a presale hard cap of $10 million.
Based on this update, the Meme Kombat presale will run in ten stages for seven days each. Notably, the first stage will start on November 2, following the price increase, and each stage will last a maximum of seven days.
Meme Kombat Milestones to Look Out ForAdditionally, Meme Kombat developers plan to roll out exciting developments for milestones attained during the presales. Here is a breakdown below.
| Presale Amount | Milestone Development |
| $1 million | Staking Dapp released/ AMA with the Meme Kombat founder. |
| $1.5 million | 5000 USDT giveaway |
| $2million | 10,000 USDT giveaway and AMA with Founder |
| $2.5 million | Meme Kombat limited edition NFT airdrop |
| 3.5 million | Beta testers selection |
| $5 million | Beta testing phase |
| $6.5 million | 25,000 USDT giveaway |
| $8 million | Game launch |
| $10 million | Token launch |
However, the launch price for MK tokens has yet to be determined and depends on what stage the presale concludes.Based on these exciting rewards for each milestone, investors could use the present price to accumulate MK tokens.
Notably, these tokens give users access to several battle modes with high-quality graphics. Meanwhile, staking seeks to preserve the long-term value of the MK ecosystem and prevent the dumping of the tokens.
Therefore, MK will likely be one of the leading meme coins in the coming months if more investors adopt the project.
Bitcoin Minetrix (BTCMTX) - The Profitable Mining Solution For Cloud Miners
>>>Visit Bitcoin Minetrix Presale
Another great milestone unlocked by #BitcoinMinetrix!
More than $2,800,000 raised!
pic.twitter.com/PoH28Wjd7x
- Bitcoinminetrix (@bitcoinminetrix) October 31, 2023
Bitcoin Minetrix is an innovative crypto project providing cloud mining solutions for Bitcoin miners.These solutions aim to boost mining profitability while cutting down costs and minimizing the effects on the environment.
Notably, the BTCMTX token is on presale with just a few hours before a price increase. Each token is worth $0.0113 and can be purchased with ETH, USDT, or bank cards.
Bitcoin Minetrix Advantages Create Strong Case For AdoptionBitcoin Minetrix on Twitter promoted the cloud mining concept, telling miners to say goodbye to issues such as reselling equipment.Remarkably, Bitcoin Minetrix handles upgrades without involving the users.
Choosing #BitcoinMinetrix for effortless mining!
Through cloud mining, bid farewell to worries about reselling equipment.#BTCMTX handles upgrades, enabling users to focus on their $BTC journey without the hassles of outdated hardware.
pic.twitter.com/eT3BGAq4Wu
- Bitcoinminetrix (@bitcoinminetrix) October 31, 2023
To participate in cloud mining, users must purchase BTCMTX tokens and stake them to earn mining credits. These mining credits are burnt to receive time allocation for cloud mining or mining rewards.
Notably, this innovation is called a Stake2Mine mechanism automated by smart contracts. Also, the Bitcoin Minetrix platform is secured and safeguards users from mining scams that plague the cloud mining industry.
Furthermore, the BTCMTX developers are exploring integrating nuclear power into Bitcoin mining to reduce energy consumption.This innovative approach could translate to a more profitable outlook for miners in the long term.
What Lies Ahead for Bitcoin Miners?Check out the insightful guide on the potential synergy between #NuclearPower and #CryptoCurrency mining by @CPOfficialtx!
https://t.co/cTMxPhvYqk
Should more efforts be made to explore the integration of nuclear energy with #CryptoMining?
#BitcoinMinetrix...
- Bitcoinminetrix (@bitcoinminetrix) October 31, 2023
According to statistics from Bitcoin Minetrix, the mining industry is projected to grow to $12 billion by 2027.Also, the developers hope to make mining accessible and secure for all miners using cloud mining and staking mechanisms.
Interestingly, BTCMTX lowers the entry threshold for miners as they do not need technical expertise to participate in mining.Moreover, each Bitcoin halving increases mining difficulty, making it unsustainable for miners.
But BTCMTX cloud miners will have an edge over traditional miners who grapple with rising energy costs.
As per the BTCMTX long-term price prediction, BTCMTX will likely trade at a high of $0.5 by the end of 2023 and $0.12 by the end of 2025. Also, they predict that it will trade around $0.18 by 2030.
Additionally, crypto analyst Joe Parys believes BTCMTX will emerge as one of the most successful crypto in 2023.
Its present price range gives investors the best opportunity to accumulate the token ahead of a price surge.So, BTCMTX will likely increase in value upon listing on exchanges based on its utility in providing solutions for Bitcoin mining.
ConclusionThe top gainers correlate with Bitcoin's price, which has remained above $34,000 for some days.Notably, these price gains largely depend on investors actively accumulating tokens in anticipation of a bull run. If the ongoing rally sustains to 2024, then a bull run will likely follow.
However, a retracement for the crypto market is still possible if negative events occur. Nevertheless, investors must understand that volatility is synonymous with the crypto market.
Therefore, proper research and risk management are vital tools in crypto trading.However, investors can consider presale tokens to take advantage of their low prices before a potential surge.
The post Top Crypto Gainers on November 1 - SOL, THETA, And XRP appeared first on The Tech Report.