Top Crypto Gainers on 28 December – BSV, ARB, And LDO

Many cryptocurrencies have been enjoying a bullish push as investors and crypto enthusiasts gather tokens in anticipation of a potential bull coming next year. Among the coins basking in this bullish wave are Bitcoin SV, ARB, LDO, and Bitcoin Minetrix, which stand out for their sharp rise in price.

They've attracted both experienced investors and newcomers with their fast-growing market caps and innovative features. Let's explore what's driving their rapid ascent and how far the ongoing rally can take them.

Bitcoin SV ($BSV) - The Authentic Bitcoin Protocol

Bitcoin SV (BSV), a variant of Bitcoin Cash (BCH), has witnessed an incredible rise in value lately, shooting up by nearly 80% in the last seven days. This surge could be attributed to the ongoing positive momentum across the broader crypto market, but there may be more to it.

The demand for Bitcoin SV has been super strong over the past day, causing its trade volume to go up by a massive 615.98% in just 24 hours. That's a lot of trading-over $612.40 million worth.

What's interesting is that most of this demand is coming from South Korean traders.

Notably, a major South Korean crypto exchange, Upbit, handled trades worth a massive $513.81 million in the last 24 hours alone.That's a big chunk-about 67.25% of all BSV trading volume.

It looks like South Korean investors are really interested in Bitcoin SV.

Also, recently, South Korea decided to set new rules for crypto to stop illegal activities. It is now a rule for government officials to report their crypto, making everything more regulated. Investors might like this because it feels safer when things are regulated.

As of 10:43 a.m. EST today, December 28, the price of Bitcoin SV is $86.46, a jump of 37.85%. The market cap also went up by 37.65% to $1.69 billion, as BSV reached $94, the highest point in 52 weeks.

It's amazing to see how much BSV has gone up since it hit its lowest point of $23.30 in 2013. That's an increase of more than 271%-pretty impressive! In just one month, the toke has gained over 120%.

BSV Forms Two Overgrown Green Candles - What's Coming Next?

The green candle stick formation on the daily chart above shows the significant impact of trade activities in BSV's market. Given the appearance of two tall green candles after a series of short red and green candles, it's clear that a bullish sentiment is beaming.

Therefore, the potential upward movement for the coin is within reach.

Furthermore, since the pattern indicates increased buying pressure and market optimism, it could trigger potential price gains in the short term.Additionally, the Relative Strength Index (RSI) is 86.47 with an upward movement, which confirms the strong positive market momentum and price increase in the last two days.

As such, BSV now trades in the overbought region. The coin briefly conquered a resistance level at $90.7 to reach $94 before receding due to stiff bear pressure. Nevertheless, there is a possibility for another break out above the resistance at $90 in the coming days.

Arbitrum (ARB) Soars Higher Amid Bullish Wave

Lately, Arbitrum (ARB) has been on a bullish trend. Part of this surge hinges on the recent commendation by Ethereum co-founder Vitalik Buterin. Buterin says Arbitrum's shift to stage 1 is a big step towards real decentralization.

As a stage 1 rollup, Arbitrum has fulfilled five requirements for full decentralization.

One of these is letting users leave without needing permission from operators. Following this positive comment, the price of ARB rose from $1.3 to $1.6 in less than 24 hours.

However, the coin has lost some of these gains as some people decide to take out a profit.

But from the chart, it seems that the downward pressure has cooled off. Maybe the bulls are sustaining the market.Meanwhile, over the past week, the coin has shown tremendous bullish strength. According to CoinMarketCap, it's up by more than 30% within this timeframe.

As of 11:20 a.m. EST, ARB still retains a nearly 1% price gain. Though the 24-hour price change is not significant, it shows that the bulls are still active.

Arbitrum Bulls Dominate the Market - Is $2 Mark Still Possible this Year?

Considering the chart, ARB looks very bullish as its price has broken out above the Bollinger Bands. Also, Arbitrum's RSI is above 60 at the moment, an observation that confirms the bullish momentum present in the market.

With the price bursting through the upper band plus a high RSI, the bulls are clearly in control right now, exerting strong buying pressure on Arbitrum. If bearish pressure returns and forces a dip, the middle Bollinger Band could act as support. But right now, bullish strength is dominant.

Overall, Arbitrum (ARB) is surging today and could reach $2 before the year ends if buyers keep entering the market. Of course, things can change quickly in crypto, but in the short term, indicators suggest Arbitrum's bull run should continue.

Lido DAO ($LDO) - Staking Infrastructure Provider for Numerous Blockchains

LIDO's price trends hint at a bullish comeback, signaling promising potential for an upward trend. Finding solid support around the $2.00 mark, it rebounded sharply, which showcases strong interest from buyers at lower levels.

In a recent surge, the price of Lido DAO soared by 16%, finally breaching the challenging barrier at $2.50. This breakthrough not only boosted positive market sentiment but also fueled a significant uptick in momentum.

What's interesting is the surge in trading volume paralleling the price movement, suggesting involvement from key players in the crypto space.

This surge may indicate their anticipation of extended gains. Over the past couple of months, LDO has been in a consolidation phase, oscillating between $2.000 and $2.500, establishing a solid base.

However, the recent breakout beyond this range has attracted fresh interest, drawing in new participants and giving the price a considerable boost.

The breakout seems robust and sustainable, hinting at the potential for further upward strides. Currently trading at $2.92 as of 11:15 a.m. EST, LDO is up by 6.24% in the past 24 hours.

Given this progress, Lido DAO (LDO) makes it to this top gainers list. Nevertheless, its daily chart analysis will determine whether the increase will prevail or not.

LDO Forms Consecutive Green Candles - Can It Break Above $3?

The notable surge in LDO price is reflected in the formation of the green candle, indicating increased buying pressure in the market today. Also, the coin's Relative Strength Index (RSI) moving upward to 68.07 confirms the surge in buying activities.

If the rally continues, LDO's RSI could reach 70, trailing within the overbought zone (above 70). This means more price gains for the asset as a result. Additionally, LDO is above the 50-day and 200-day Simple Moving Average (SMA), and as more trades occur, there is a possibility for significant rallies.

From the chart above, there's a potential resistance at $3, which could limit ascent and trigger short-period dips. However, considering the ongoing bullish trend, the coin's rally could break out from the resistance level.

While this is more likely to occur, traders and investors should remain cautious of sudden fluctuations in the crypto market.

Bitcoin Minetrix ($BTCMTX) - Eco-friendly BTC Mining Platform

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Amidst the surge in the cryptocurrency market, a rising star tagged Bitcoin Minetrix has emerged. This groundbreaking project, currently in its presale phase, has seen an unprecedented level of interest, raising substantial funds, amounting to over $6.5 million and still counting.

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- Bitcoinminetrix (@bitcoinminetrix) December 8, 2023

Bitcoin Minetrix has managed to exceed the expectations of many, and this staggering achievement only shows how confident and interested investors are in the project.

Variables Behind Bitcoin Minetrix's Surge

Several things make Bitcoin Minetrix unique from other projects, and that could make it a formidable asset in the crypto landscape.Firstly, it allows people to stake BTCMTX tokens to enjoy mining rewards, a game-changing approach in the Bitcoin mining arena.

That's because it paves the way for all and sundry to participate in BTC mining without needing to buy expensive hardware.If the words get out, more people could join Bitcoin Minetrix, which could lead to high demand and a price surge.

By providing a transparent and decentralized ecosystem of miners, Bitcoin Minetrix makes sure power doesn't end up in the hands of few, and most importantly, it ramps up security.

Moreover, Bitcoin Minetrix supports environmental sustainability since it tries to put away the need for mining hardware that requires high energy and leaves a carbon footprint.

The presale has recorded great success, and if this continues, more people will want to join Bitcoin Minetrix, driving the token price up. For now, one BTCMTX token goes for $0.0125, and the price will increase soon.

So, now is the best time to buy BTCMTX tokens at subsidized rates.

Conclusion

Some of the best-performing cryptocurrencies are rising because of the overall growth of the market and recent updates in their ecosystems. Meanwhile, new tokens under presale, like Bitcoin Minetrix, are catching people's attention worldwide.

Even though it's still in presale, it seems to have a good future in the market. Considering these assets for investment could be a good idea, but it's important for traders and investors to do their homework and plan how to handle risks before making any choices.

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