Top Crypto Gainers on November 29 – SEI, LUNC, And RUNE
The crypto market has arguably posted its best figures this week today, with its total market cap value at $1.5 trillion.Bitcoin has moved above $38,000 in the past 24 hours, leading to a general improvement in the performance of altcoins.
According to a bold projection by Standard Chartered Bank, BTC will likely hit a high of $100,000 by the end of 2024.
So, investors are quite optimistic in the last few weeks of 2023, leading to an improvement in prices. This is evident in the prices of some assets topping the charts today, among others.
These top gainers today are boosted by the positive sentiment and strong community ties. Find them below.
Sei (SEI) - The L1 Blockchain For Smooth Digital Asset Trading
SEI's price on November 29, at 6:45 a.m. EST, is $0.29, with a 24.3% increase in the past 24 hours.Also, SEI is up by 75.9% in the last seven days as the buyers continue to sustain its uptrend.
Additionally, the trading volume for the asset is up by 316.87% within the same time frame.
One of the factors driving SEI's price gains is Circle Ventures' investment to enable more use cases for USDC in the ecosystem. This partnership will give Sei access to provide advice on the Circle stablecoin framework and collaboration.
Announcing that @circle_ventures has invested in Sei, the fastest Layer 1 blockchain to unlock novel use cases for Circle's USDC in the ecosystem. pic.twitter.com/DpcSfRf2yx
- Sei
(@SeiNetwork) November 15, 2023
Also, developers and other users will now be able to build products and conduct business on a global platform quickly with fast transaction settlement.Additionally, on November 20, Sei developers introduced an accelerator program to discover talented founders.
The goal is to improve crypto adoption and have these founders collaborate with Sei.
This accelerator program consists of three tracks. They are the Sei Decentralization Program, the Sei Incubation Program, and the Sei Launchpad Program.These exciting developments have aided SEI's recovery in the past week.
However, on the daily chart, SEI still faces resistance from sellers.
SUI Buyers Attempting a Recovery: Will It Break Above $0.61?
SUI showed recovery on November 28 after encountering resistance at $0.61. Also, Sui found support at $0.58, as it attempted a break above $0.61 today.
However, the red candle formed suggests that the sellers are still active and attempting to force a decline.
Also, the Relative Strength Index (RSI) indicator is moving sideways in the neutral zone with a value of 54.77. If the RSI drops below 50, then a downtrend will likely occur.
Additionally, the Moving Average Convergence/Divergence (MACD) indicator is below its signal line, showing a sell signal.
This signal is confirmed by a red Histogram bar as the sellers make their return.Based on these indicators, SU will likely decline to the $0.58 support in the coming days before a rebound to break above the $0.62 resistance level.
Terra Classic (LUNC) - The Open-Source Crypto Project
LUNC is trading at $0.000119, with a 24.4% increase in the past 24 hours. Remarkably, LUNC's resurgence over the past week has resulted in 66,0% gains on its price.
The extra liquidity added to the Terra ecosystem is likely driving its price gains in the past week.
Over $6.2M in 24h trade volume across the blue chip pools TFL seeded with liquidity recently
pic.twitter.com/C79fskb1NB
- Terra
Powered by LUNA
(@terra_money) November 27, 2023
More than $6.2 million was recorded as the 24 trading volume in liquidity pools on Terra. This proves that the crypto community has renewed interest in the Terra ecosystem, leading to price gains for LUNC.
The increase in transaction volume is also attracting more buyers who are eager to benefit from the ongoing rally for the token. On the daily chart, LUNC shows a strong bullish pattern and will likely attain higher highs in the coming days.
LUNC Forms Rising Wedge Pattern, Will The Rally Persist?
LUNC has formed a sixth consecutive green candle on the daily chart as the buyers continue to mount pressure.Its rally began on November 25, and it has formed a Rising Wedge pattern, which is bullish, flipping the $0.000099 resistance to support.
Also, it has formed a Doji candle today as it attempts to break above the $0.00012 resistance level. The sellers at $0.00012 have formed a strong resistance to LUNC's rise from November 27.
Additionally, LUNC is trading close to the upper band of the Donchian Chanel (DC), confirming that the bulls are in control of its price.
This bullish sentiment is evident from the RSI indicator in the overbought region, which displays a value of 80.57. However, the RSI is moving sideways, suggesting that a brief retracement is still possible.
Nevertheless, LUNC will likely break above the $0.00012 resistance level in the coming days if the buyers continue the accumulation phase.
THORChain (RUNE) - The Decentralized Liquidity Protocol For Cross-Chain Swaps
RUNE has shown remarkable price gains in the last two months based on exciting developments in its ecosystem. Its price at 6:50 a.m. EST is $6.47, with a 17.5% increase in the last 24 hours.
Also, RUNE has gained 11.6% in the last seven days as buyers continue to dominate the entire crypto market.
THORChain continues to prove its innovation and determination to be the top liquidity protocol. It surpassed $7.2 billion monthly transaction volume at an average of $250 million each day over the past 30 days.
Also, monthly liquidity fees hit an all-time high, contributing 43% to the total Block Income.
If you're wondering what is causing the recent $RUNE uptrend, you should give a look to these metrics:
@THORChain crossed $7.2 Billion USD Monthly Volume this month
- Crypto Hogwarts
(
,
) (@HogwartsCrypto) November 28, 2023
Additionally, THORChain is recognized as the fifth-largest BTC exchange in the world.Furthermore, RUNE tokens are now supported by Edge Wallet for self-custody and swaps. On the daily chart, RUNE is quite bullish as the buyers return to sustain its price gains.
RUNE Breaks Above $6.05, What Next For The Token?
RUNE has continued its positive price form after flipping the $6.07 resistance level to support. Its price movement shows that the buyers are in control of its price as it attempts to overcome the $6.45 resistance level.
A break above $6.45 could move RUNE to the $6.6 price level in the next few weeks.
Also, RUNE is trading above the Parabolic SAR indicator, which confirms the asset is bullish and likely to record a further increase.Additionally, the RSI indicator is rising to the overbought region above 70 with a value of 68.34.
So, RUNE will likely break above the $6.45 price level to enter the overbought region in the coming days.
Bitcoin ETF Token - Speculative Growth with Dynamic Token Reduction Strategies
>>>Visit Bitcoin ETF Token Presale
On this top gainer list, today is the Bitcoin ETF Token. As we all know, it's a new project linked closely to the progress of the Bitcoin ETF. It rewards its community based on steps toward ETF approval.
As the ETF hits milestones, it burns part of its supply and reduces transaction taxes.
There are five main milestones in their plan. Each reached milestone burns 5% of the total supply and reduces taxes by 1%. This means 25% of the supply will eventually be gone.
The milestones include reaching a certain trading volume, SEC approval for the ETF, its launch, managing over $1 billion in assets, and Bitcoin hitting $100,000.
People holding the BTC ETF Token can also earn rewards by staking their tokens on the project's site, potentially getting up to 138% in annual returns. With this project linked to the Bitcoin ETF, it's seen as a good investment opportunity for those excited about the ETF's buzz.
Right now, the tokens are in presale for $0.006 each, and the presale aims to reach $5 million after already raising over $1.9 million.
As the year ends, many in the crypto world are hopeful about a new bull run, especially with the potential approval of spot Bitcoin ETFs and the upcoming Bitcoin halving in May 2024.
This year's been great for crypto, with Bitcoin rising 125%, and experts think this trend might continue into 2024. A few things fuel this optimism: more institutions using crypto, people learning more about blockchain, and cool new crypto projects popping up.
While Bitcoin is still big, other cryptocurrencies (altcoins) are getting popular as people look for different investments with higher returns.
Bitcoin ETF Token: A Smart Choice to Embrace the Future of Crypto
Understanding BTCETF involves knowing the journey towards a US Bitcoin ETF. Here's a quick timeline: Back in 2013, Grayscale introduced the first Bitcoin trust for accredited investors, though it didn't match Bitcoin's price precisely like a spot ETF would.
By 2015, it became publicly available as GBTC. In October 2021, Grayscale sought SEC approval for a spot Bitcoin ETF. However, the request was rejected in June 2022, leading to a legal battle won by Grayscale in August 2023.
The SEC's decision not to contest this court ruling in October 2023 opened the door for a fresh review of the ETF application. Several firms like Blackrock and Fidelity have also applied for spot Bitcoin ETFs, but the SEC hasn't made decisions yet.
The BTCETF Token is programmed to burn 5% of its supply at each of 5 milestones tied to the development of a spot Bitcoin ETF.Once a spot Bitcoin ETF starts, many financial advisors plan to recommend it, potentially reaching $1 billion in assets quickly.
ConclusionCryptocurrencies often invoke fear among traditional investors due to price volatility. However, the collapse of some notable banks in the last few months has increased the global community's interest in cryptocurrencies.
While cryptocurrencies also have their challenges, they also reward investors who are willing to take a risk.With multiple projections of a bull run in 2024, it is quite tempting for investors to go all in due to FOMO.
However, all investments require proper research and diversification for long-term sustenance.
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