Top Crypto Gainers on December 12 – KCS, INJ, And ORDI

The major crypto coin Bitcoin has found support above $41,000 today, December 12, preventing further decline after it briefly touched $40,000.However, BTC's retracement has not halted the rally but moved the market to a brief consolidation phase.

Despite the retracement, some altcoins still record impressive gains based on positive investor sentiment.Also, in the international scene, crypto utility continues to grow, with El Salvador's Volcano Bitcoin Bonds receiving regulatory approval to launch in Q1, 2024.

Secondly, FIFA announced the launch of an NFT collection in collaboration with Modex ahead of the Club World Cup in Saudi Arabia.These real-world use cases will likely sustain the ongoing crypto market rally in 2024.

Meanwhile, keep reading to find more details on the best-performing altcoins today below.

KuCoin (KCS) - The Exchange-Backed Token For Profit Sharing

At 6:10 a.m. EST today, KCS is trading at $13.45, with a 35.9% increase in the last 24 hours. Also, KCS has gained 39.8% in the last seven days as the buyers continue to accumulate the token.

Notably, KuCoin has continued to find innovative ways to attract more users to adopt the exchange for their transactions.

New User Rewards: Enjoy a 3% $BTC APR & a 100% $USDT APR on #KuCoin Earn

09:00 on December 12, 2023 to 09:00 on December 22, 2023 (UTC)

Details: https://t.co/7rjjCFoxgu pic.twitter.com/6nVUrUs3Ea

- KuCoin Earn (@KuCoin_Earn) December 12, 2023

With new tokens listed regularly, users enjoy access to trade a wide range of tokens and make profits.Also, KuCoin developers announced a new user reward scheme for those who sign up.

According to the report, these new users will enjoy a 3% BTC APR and 100% USDT APR on KuCoin Earn.

However, this offer is time-limited and will run from December 12-22 for new users who subscribe to the Earn products.These incentives will likely attract more investors to the exchange and boost the long-term value of the KCS token.

In another development, KuCoin announced the listing of Sonorous (SNS) tokens on the exchange.To celebrate this listing, SNS is hosting a giveaway with an SNS prize pool worth $55,00 for qualified KuCoin users who actively trade.

The event will run between December 12-19 with only 1000 participants allowed. These activities will likely attract more users to the ecosystem. On the daily chart, KCS shows a bullish trend as the buyers seek to continue the uptrend.

KCS Finds Support At $11.59, What Next For The Token?

KCS moved into an uptrend on December 4, forming a large green candle on December 5, as the buyers forced a rally. However, a brief retracement on December 6 moved the asset into a sideways trend.

Nevertheless, the buyers rallied once more to resume the uptrend from December 10 till today.

KCS overcame the $11.59 resistance level today, flipping it to support, and is testing the $13.35 level.A break above this level will send the asset to $14 in the coming days.

Also, the Maribozu candle formed today suggests strong pressure from the bulls as they target higher highs.

Further, KCS is trading above the upper band of the Donchian Channel (DC), which is a strong bullish indicator.Also, the Relative Strength Index (RSI) indicator shows 89.05 in the overbought region, which is above 70.

If the buyers sustain this price momentum, then KCS will likely break above the $13.35 resistance level in the coming days.

Injective (INJ) - The Financial Blockchain For Auto Executing Smart Contracts

INJ's price at 6:13 a.m. EST is $25.81, with a 15.1% increase in the last 24 hours. Also, INJ has gained 60.1% in seven days, which shows the positivity of the token among investors.

Injective continues to gain more ground in the financial world with quality updates. The developers rank Injective as the fastest layer-1 blockchain in finance.

1/ Injective is the fastest layer 1 blockchain for finance.

On Injective anyone can launch and use the best Web3 dApps across DeFi, NFT Fi, RWAs and more.

A quick on all you need to get started

- Injective (@Injective_) December 12, 2023

Injective serves as a launchpad for quality Web3 apps for DeFi, NFTs, and real-world assets, among other investments.To enjoy the full benefits of this ecosystem, users can create an Injective wallet with impressive features.

Another feature driving growth in the ecosystem is bridging between blockchains.

The seamless movement of assets has attracted more investors to the Injective ecosystem and is also boosting the price of INJ tokens.Additionally, Injective has introduced a burn auction mechanism for users.

Every week, 60% of all fees collected on dApps built on Injective undergo a decentralized buyback and burn auction mechanism.

INJ Testing The $26.65 Price Level: Will It Break Above?

INJ entered an uptrend on December 7 before the sellers faced resistance at $19 between December 8-9.However, the rally resumed on December 10, with three green candles formed between December 10 and 12.

Also, INJ has flipped the $24.05 resistance to support today.

Presently, the buyers are testing the $26.65 resistance level as they attempt to move the rally to $27 in the coming days.Also, the RSI indicator confirms this bullish sentiment, displaying a value of 79.61 and still rising as the buyers continue to accumulate.

Additionally, the Moving Average Convergence/Divergence (MACD) is above its signal line and shows a strong buy signal for the token.This signal is confirmed by the green Histogram bars, which prove that the buyers are not done with the asset.

Since the bulls are in control, INJ will likely break above the $26.65 price level.However, investors must watch out for any signs of retracement from the RSI below the overbought zone.

ORDI (ORDI) - The NFT-Focused Token For The Bitcoin Blockchain

ORDI's price is $54.22, with a 12.6% increase in the last 24 hours. Its gains in the past seven days are modest at 11.0%.According to Whale Hunter, 149,040 ORDI tokens have been purchased by whales in just 15 minutes today.

This massive accumulation shows the rising interest in ORDI tokens in the market and possibly driving the price gains.

ORDI/USDT [#Binance]Big Whales Buy Activity
149.84K $ORDI have been bought
Price: 52.00 USDT (10.16%)
Order Size: 7,489,987 USDT (5.00%)
Duration: 15 minutes
24h Vol: 149.75M USDT

Get all Alerts here: https://t.co/o4CEgy7jGS

- CoinTrendz.com (@CoinTrendz) December 12, 2023

Also, ORDI was listed on the Jubi exchange on December 10, leading to a further price increase for the token. However, on the daily chart, ORDI is in a sideways trend as the buyers and sellers seem to be evenly matched.

ORDI's Rally Facing Resistance: Will A Downtrend Begin?

ORDI is in a sideway trend on the daily chart as the accumulation phase slows down. After the rally between December 2 and 5, the bears dropped ORDI below the $52.64 price level.

However, the $46.34 price level has proven to be a strong support zone for the asset.

Also, ORDI has struggled to break above the $52.64 resistance level between December 7 and 11, with its decline also correlating with BTC's dip in value.The Parabolic SAR indicator is above the candles, which is a bearish signal and hints at further retracement for the token.

But, the RSI indicator shows a possible recovery ahead for the asset trading close to the overbought zone with a value of 68.82 and rising.

Therefore, if the RSI enters the overbought region, then ORDI will likely break above the $52.64 resistance level in the coming days.However, if the RSI indicator retraces, then a decline in ORDI value will likely occur in the short term.

Bitcoin ETF Token - Enriching Staking Rewards and Long-Term Value

>>>Visit Bitcoin ETF Token Presale

Bitcoin ETF Token is a hot Ethereum-based digital coin that may likely reward people when Bitcoin Spot ETFs get approved. In its early sale, $BTCETF collected over $3.6 million in the long run, showing strong support from the community and investors.

Right now, each token costs $0.0066, and it's at the 8th stage of the early sale. This means folks can get in at a lower price now and might see its value go up as the sale nears its end.

One cool thing about this token is how it rewards people who hold onto it, offering high returns on your investment-more than 135% a year if you get in early.

But as more people join in and buy tokens, that return might shrink. To keep growing and staying stable, Bitcoin ETF Token set aside 25% of its tokens for rewards over the next five years.

Why BTCETF Might Be the Next Big Thing in Crypto

Some people think the crypto world has grown a lot, with more big players, better rules, and tools to watch for cheating.They believe this makes a good case for the Spot ETF to get approved finally.

But the SEC's worries about cheating and fraud are still there, so it's hard to say when it'll happen.

If the SEC gives the thumbs up to a Spot Bitcoin ETF, it could be huge for the crypto world. Lots of money might pour in, pushing up the value of the market. And right in the middle of all this, there's $BTCETF. This coin seems set to do well if things go as planned.

Jumping into this space could be a thrilling chance for people wanting to get into the growing world of crypto-ETFs. But here's the twist: tying how many tokens exist to when the SEC says yes to a spot ETF is new in the crypto world.

That makes it hard to guess exactly how much $BTCETF might be worth in the future. Still, people are feeling pretty positive about $BTCETF. They think its price during the presale could shoot up a lot, maybe even be ten times higher.

Conclusion

Despite the slight retracement in the crypto market today, investors are still bullish on their portfolios. With the altcoins also recording gains, cryptocurrencies are beginning to gain adoption, which will likely massively increase the market cap value.

However, the retracement in the last 24 hours serves as a reminder that there are no guarantees with crypto investments. Therefore, proper risk management and research remain vital to survive the market movements.

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