Top Crypto Gainers on December 5 – STX, CFX, And GALA
The crypto market remains bullish, with the total market cap rising to $1.61 trillion today, December 5. Also, Bitcoin's market cap is fast approaching $1 trillion as it remains above $41,000.
Remarkably, BTC broke above $42,000 for the first time in 19 months on December 4, sparking positive activities in the crypto market.
This surge will likely lead to a strong finish for cryptocurrencies in 2023. Also, a potential ETF approval for Bitcoin by January 2024 will likely provide support to continue the bull run.
These positive movements in BTC have affected the prices of some altcoins. Some of these coins, including STX and CFX, reflect the improved market outlook.
Keep reading to find their next possible price moves below.
Stacks (STX) - The Bitcoin Layer Enabling Smart Contracts and dApps
At 5:37 a.m. EST, STX trading price is $1.12, showing it has gained 33.1% in the past 24 hours. Also, the asset has been up by 76.6% in the last seven days, confirming a strong bullish phase.
Stacks has continued to build on its past success with exciting developments such as the Parrot Radio.
PSA for the @Stacks community.
Parrot Radio is now available to all Stacks community members free.
Your Parrot Pass art has been updated to reflect this change, the Pass is now only for access to your Stacks Virtual Galleries. The art update is by our brilliant @TheArtistBTC pic.twitter.com/kXRXgcRmKn
- The Pandemonium (@ThePand3monium) December 1, 2023
This development is likely aiding the price gains for STX tokens. This Parrot Radio service is available for free to all Stacks community members. Also, the Parrot Pass art was updated to include this change.
So, the Parrot Pass only gives access to the Stacks Virtual Galleries.
Secondly, the Stacks developers believe that Bitcoin's economy will scale based on L2s, and Stacks is willing to play a vital part.The next phase for Stacks is likely the integration of Bitcoin Ordinals and other BTC-affiliated protocols to their Blockchain.
But on the daily chart, STX is under pressure from the sellers after a positive movement in the last week.
STX Forms Red Candle On Daily Chart: Is the Rally Over?
STX formed four green candles between December 1 and 4 as the buyers dominated the market. Remarkably, the large green candle formed on the 4th broke above the $0.83 resistance level, flipping it to support and sending STX to $1.
However, STX has formed a red candle today as some traders begin to close their long positions and take profit. It faces resistance at $1.18, but the long upper wick of today's candle confirms the determination of the buyers to rally again.
Also, STX is still trading close to the upper band of the Donchian Channel (DC), suggesting a possible recovery for the asset ahead.Additionally, the Relative Strength Index (RSI) indicator is in the overbought zone above 70, which is a strongly bullish sentiment.
However, the downward movement of the RSI is a red flag of a possible retracement in the short term.So, STX will likely decline in the coming days before rebounding off the $0.82 support if the buyers prevail.
Conflux (CFX) - The layer-1 Blockchain For e-Commerce and dApps
CFX's price at 5:39 a.m. EST is $0.21, with a 23.8% increase in the past 24 hours. Also, an increase of 36.85 is evident for the asset in the past week.The Conflux Ecosystem November Progress report was released on December 1.
These likely encouraged investors to accumulate the tokens, leading to price gains.
Our November Progress Report is out!
Key Updates:
Updated development of open APIs for the BSIM wallet, introduction of BSIM account support, and enabling message signing.
- Conflux Network Official (@Conflux_Network) December 1, 2023
According to this report, interesting milestones were achieved by the network in November. Remarkably, the Mainnet version v2.3.1 was released, and cross-chain development was initiated.
Also, support for minute and hourly data in blockchain charts was added, and EVM-bridge support was added on eSpace.
Meanwhile, Conflux partnered with RAK DAO based on improved blockchain technology in the digital and virtual asset-free trade zone.Additionally, the Lambda Network partnered with Conflux to develop a new art ecosystem.
So, the Lambda Storage Service (LWS) grants users distributed storage services for proper support of artists and platforms.
Similarly, CanvasLand announced a partnership with Conflux that will improve Web3 and Metaverse development and NFTs.Furthermore, Conflux collaborated with Dot. Gaming for the creation of next-generation games on Conflux.
Remarkably, dot. Gaming hopes to bring interactive and secure blockchain gaming to a single platform.
Other notable partnerships are with Protofire for improving their Tree-graph mechanism used for dApps and Sailwars for more Web3 gaming solutions.These developments led to a price surge for CFX on December 4. On the daily chart, CFX is facing resistance as the sellers make their return.
CFX Facing Resistance at $0.22. Will The Bulls Prevail?
CFX has encountered price volatility in the past week, with the buyers still gaining the upper hand.After forming a Maribozu candle to break above the $0.18 resistance level, CFX faces resistance today at $0.22.
This resistance has led to a red candle formed in the last 24 hours. The long lower wick on the red candle today suggests that the sellers are intent on regaining control of CFX's price.
Although the RSI indicator is dropping, it is still close to the overbought zone with a value of 69.21. This implies that the buyers are still attempting to force a rally for CFX.
Also, the Moving Average Convergence/Divergence (MACD) is above its signal line, which is a buy signal.
The green Histogram bars confirm that despite the decline, the buyers are still in control of CFX's price.Therefore, CFX will likely rebound in the coming days to break above the $0.22 resistance level. So, traders must watch the RSI indicator for possible hints on CFX's next price moves.
GALA (GALA) - The Blockchain Gaming Platform
GALA trades in the green at 5:41 a.m. EST today. Its price is $0.0298 within this timeframe, with a 6.4% increase in the last 24 hours. Also, its price has gained 17% in the last seven days.
LIVE! MMO Update | New Zone Progress & Tech Test Details! https://t.co/PC0FbHmmjL
- Gala Games (@GoGalaGames) December 1, 2023
Gala Games continues to roll out exciting game models for members of the crypto community and beyond, leading to price gains for GALA. One of the new games introduced is the Shipwreck Mirandus.This captivating game focuses on a Metaverse-based region called the Shores of Narrows Landing.
Also, the game supports in-game purchases, with burning and minting being a vital part of the process.
This captivating game is one of the numerous ones hosted in the Gala Games ecosystem, making it a hub of Metaverse gaming and thereby attracting more users to the ecosystem. On the daily chart, GALA shows impressive gains as more investors accumulate the tokens based on their utility.
GALA Buyers Breaks Above $0.028, What Next for The Token?
GALA has broken above the $0.028 resistance level after four consecutive green days on the daily chart.It is attempting to breach the $0.030 resistance level but faces pressure from the sellers' intent on limiting its gains.
If a rejection occurs at $0.030 at the close of today's trading session, then GALA will likely decline.However, GALA is trading above the Parabolic SAR indicator and expressing a strong bullish trend for the token.
Also, the RSI indicator is in the buy zone and rising to the overbought zone with a value of 66.55.Therefore, GALA will likely continue its rally to break above the $0.030 resistance level. However, if rejection occurs at $0.030, then GALA will decline to the $0.028 support.
TG.Casino (TGC) - The Online Crypto Casino For champions48 hours left to spin and WIN at @TGCasino_ Big Bass Christmas Bash!
Who will claim the top spots and the share of the $5K prize pool?
#SlotRace #TGcasino $TGC
Top 3 Players:
Unknown - $9,955.52
moonpie666 - $6,510.09
Stan - $5,798.47https://t.co/vTMThs7Zjr pic.twitter.com/IBZwvntmjq- NewCryptoCasinos.com (@NewCryptocasino) December 5, 2023
TG.Casino is entering the festive season in style with an ongoing Big Bass Christmas Bash event that will endin less than two days. This event will feature a prize pool of $5,000 for the top players.
Remarkably, TG.Casino is a crypto-backed online casino project that gives users access to top games and live events.
Also, Sport Betting is supported by the $TGC token, giving users exciting opportunities to earn rewards.It is a licensed platform that does not mandate users to complete KYC verification before participating in gambling activities.
Additionally, its integration with the popular messaging platform Telegram exposes it to more users. These users can conveniently access the platform and manage their accounts on Telegram.
The ongoing presale success is a testament to the rising interest in the project from the crypto community.
TG.Casino Presale Goes Viral: What It Means for Investors
TG.Casino presale is going viral in the crypto community as more investors sign up for the project.Over $3.4 million has been raised from the presale of the $TGC tokens. Today, each token is worth $0.175, with one day left before a price increase.
The presale is 68.08% complete, and the price increase at each stage yields rewards on paper for early investors. This is likely why $TGC has gone viral.So, users can purchase the tokens with ETH or USDT once they connect a secure crypto wallet to the presale page.
Apart from paper gains, $TGC supports staking for extra rewards, with 20% of the total token supply dedicated to staking rewards. This controls inflation and preserves the long-term value of the $TGC tokens.
Why TG.Casino?With the global expansion of the casino industry, TG.Casino is positioned to give its users a unique experience.It offers instant access, secure and encrypted gaming, and community engagement.
Also, the player rewards, loyalty programs, and future potentials make it one of the projects to watch in 2024.
ConclusionCryptocurrencies often provoke mixed reactions from investors. However, the present state of the market provides a strong argument for the long-term value of cryptocurrencies.Market leader Bitcoin has rallied in the last two months as it approaches its next halving in 2024. If the market conditions remain favorable, Bitcoin will likely set a new all-time high record in the coming months.
Some investors who missed the early rally might rely on altcoins or memecoins with more realistic entry points.However, price volatility is still a constant factor. Therefore, proper research and portfolio management are vital for crypto trading.
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