Top Crypto Gainers on January 25 – HNT And IOTA
The crypto market has found some stability as Bitcoin trades above the $40,000 price level. However, BitMEX exchange founder Arthur Hayes believes that BTC will trade between $30,000 and $35,000 at some point in 2024.
Despite his bearish predictions, some analysts believe that the upcoming Bitcoin Halving in April will trigger the next bull run.Also, the crypto Fear and Greed Index reveals that investor sentiment is neutral today. Therefore, prices can go either way.
Despite the uncertainty in the market, some investors still rely on altcoins to make profitable trades. As such, these altcoins now record positive price movement and rank among the top gainers in the crypto market today.
Helium (HNT) - The Hotspot Network For Internet Devices
HNT has posted impressive gains in the last 24 hours, shaking off bearish pressure as the buyers return. One factor likely driving HNT's recovery is Helium's 5G hotspot coverage expansion.
Helium 5G Hotspot coverage has expanded. @Telefonica customers in Mexico City and Oaxaca can now offload mobile data using the Helium Mobile Network. https://t.co/SwH0XPTB48
- Helium
(@helium) January 24, 2024
Remarkably, one of the largest telecommunications companies, Telefonica (TEF), is creating mobile hotspots in Mexico City and Oaxaca.
This project is in partnership with Nova Labs, built on the Helium blockchain.So, customers will have access to connect to the Helium Mobile Network securely with their existing SIM.
This project is built based on the OpenWifi standard developed by the Telecom Infra Project (TIP).Some selected Moviestar customers can use their SIM cards to access the Helium Mobile Network.
This real-world application for Helium technology is likely aiding HNT's price gains today. The daily chart shows that the buyers and sellers are still battling for control.
HNT Attempting A Recovery: Will It Break Above $7.27?
HNT has formed a bullish engulfing pattern on the daily chart on January 24, signaling a return of the buyers to force a recovery.It found support at $6.75 and is attempting to break above the $7.27 resistance level.
It faces a possible rejection at this level, which is evident from the doji candlestick formed today.
Despite the pressure from the sellers, HNT is trading above the median band of the Donchian Channel (DC). This is a bullish signal and hints at further price increases ahead for the asset.
Also, the Relative Strength Index (RSI) indicator is in the neutral zone, displaying a value of 54.18.The RSI indicator is moving sideways, confirming that the bears and bulls are evenly matched.
Therefore, an uptrend will likely begin if the RSI indicator rises above 60 in the coming days.So, HNT will likely rally again in the coming days if the buyers break above the $7.27 price level today.
However, a retracement is quite possible due to uncertainty among traders, leading to a decline back to the $6.75 support.
IOTA (IOTA) -The Feeless Data Transfer Protocol
IOTA has gained popularity in the world of digital currency. It stands out for its unique technology and its emphasis on the Internet of Things (IoT).
Investors and tech enthusiasts are closely watching IOTA due to its special focus. While it hasn't seen many changes in recent years, it's currently showing promising potential.
[ICYMI] What makes #IOTA 2.0 a powerful platform for transactions, #tokenization, and data transfer? From UTXO to Account Outputs and NFTs holding other NFTs - this video explains it all
pic.twitter.com/URwveYkQ3A
- IOTA (@iota) January 25, 2024
The IOTA 2.0 is a reliable platform for tokenization, data transfer, and processing transactions. Using a UTXO model and IOTA 2.0 in combination aids data validation in the IOTA ecosystem.
Also, several unique features, such as the account outputs, are vital to IOTA's operations.
These outputs help users to validate the network, delegate voting power, or simply earn rewards.Additionally, the Foundry and NFT output feature helps users mint Native and Non-Fungible tokens on the IOTA 2.0 base ledger.Furthermore, users can hold or transfer these NFTs.
The NFTs represent a user's ownership of assets in the ecosystem. Therefore, the NFT model creates a well-organized framework to identify user ownership.
Meanwhile, to prevent the ledger from exceeding its capacity, a small storage deposit is created. This storage is important for transactions that need additional data storage space.
However, what truly makes IOTA 2.0 unique is that all transactions command no fees for token holders.Therefore, IOTA 2.0 is an extraordinary platform for transactions, tokenization, as well as data transfer.
As excitement grows due to this revolutionary upgrade, the IOTA token is pumping with significant gains in the long run.
Today, January 25, its trading volume is 614.24% up, sitting above $135.8 million. Furthermore, as of 5:59 am EST, the price of the coin is at $0.2414, up by 11.83% in the last 24 hours.
As more upgrades are hit, IOTA is likely to make massive gains over time.
IOTA Trades Between Key Support and Resistance - Is the Market Set to Range?
IOTA's current price movement reveals some interesting dynamics. With established support at $0.2041 and resistance at $0.2671, the coin is currently navigating within this range.
This indicates a period of consolidation or range-bound trading. These levels serve as significant markers for potential shifts in the coin's trajectory.
Adding to the analysis, the Relative Strength Index (RSI) is pointing upwards from the neutral zone at 45.40.This upward movement suggests an increase in buying momentum, indicating a potential strengthening of the bullish sentiment.
If the buyers remain strong throughout the week, the RSI hit the overbought market zone (above 70).
Otherwise, it could plunge to the oversold region (below 30). In conjunction with the RSI movement, the formation of two consecutive green candlesticks in the past two days further supports the bullish outlook.
Considering these factors collectively, there is an indication of potential upward movement in the price of the coin.
The RSI's upward trend and the bullish candlestick patterns suggest a growing dominance of buyers in the market.While these may pose a good buy opportunity, it is advisable to watch for a potential breakout from the current trading range.
Sponge V2 (SPONGEV2) - The Staking Ecosystem for Long-Term Rewards
Sponge V2 is the sensational return of the Sponge crypto project. However, it is bigger, better, and more refined. SPONGEV2 token is an ERC-20 token launched on Ethereum.
Welcome to the $SPONGE family
You're one of us now...
$SPONGE #SpongeV2 #Presale #Bullish #Crypto #Altcoins pic.twitter.com/mwwVQ7C7ZW
- $SPONGE (@spongeoneth) January 25, 2024
Also, Sponge V2 hopes to combine the fun spirit of its memecoin community with additional utility in this new model.Its staking model adds long-term value to the project, and the Play-to-Earn game adds utility that attracts more users.
So, Sponge V2 gives $SPONGE holders an easy bridging process to move their tokens from Version 1 to Version 2.
How Bridging Works In the Sponge EcosystemExciting news, #SPONGERS!
There are now over 5,627,448,685 $SPONGE tokens staked with a value of $5,445,468.33
Stake your tokens now to enjoy our current APY of +280%!
GO GO GO
#SpongeV2 #Crypto #100x #Bullish pic.twitter.com/PsD2Sycxjj
- $SPONGE (@spongeoneth) January 22, 2024
$SPONGE holders can bridge their tokens from version 1 to Version 2 through staking. However, any token currently in the V1 staking pools must be removed and re-staked in the new V2 staking pool. This is because the version 1 staking pool will be closed to avoid the loss of tokens.
However, new buyers don't have to worry about staking, as their purchased tokens will be automatically staked. After the staking lock period, users can claim their SPONGEV2 tokens on the website.
The over 5 billion tokens already staked show massive interest from the crypto community for the Sponge V2 project.
Based on the previous success of Version 1, Sponge V2 will likely be one of the top crypto projects in 2024. Also, its growing and supportive community will aid its long-term growth and expansion plans.
Bitcoin Minetrix - The Stake-to-Mine Solution
>>>Visit Bitcoin Minetrix Presale
Bitcoin Minetrix (BTCMTX) is a practical mining solution that makes cloud mining accessible to all users. This project seeks to change Bitcoin mining processes and solve the problems encountered with traditional mining.
Bitcoin Minetrix relies on the novel Stake-to-Mine" concept.
This approach allows BTCMTX holders to earn cloud mining credits by staking their tokens. Stakingis a user-friendly method for individuals that lowers the entry barrier to Bitcoin mining. It makes mining easy and gives miners decentralized access.
Bitcoin Minetrix now enjoys massive community support from its vibrant supporters across all social media networks, with millions of BTCMTX tokens staked.Its decentralized nature makes it suitable for most users, eliminating the need for expensive hardware and specialized skills.
Presale Success and TokenomicsBTCMTX presale is ongoing, surpassing the $9.2 million milestone. The presale success reflects investor confidence in the project.One of the factors driving this confidence is that Bitcoin Minetrix uses a double-earning model.
Users enjoy staking rewards of up to 87% yearly and a share of mining profits.
Therefore, it solves common challenges associated with traditional mining, such as complexity and high entry costs.Also, staking and mining incentives will also attract crypto enthusiasts searching for a simplified yet lucrative engagement in the cryptocurrency space.
Bitcoin Minetrix is a promising project, and the stake-to-mine mechanism, strong community support, and earning model will preserve its value. Also, the Bitcoin Minetrix will change the crypto mining scene due to the ease of access for miners regardless of their technical skills.
So, early investors can buy BTCMTX tokens at lower prices during the presale to join its community.
ConclusionThere is uncertainty in the crypto market today. Most investors are being cautious to avoid devastating losses. However, some altcoins present an opportunity to investors who cannot afford top projects such as Bitcoin.
These altcoins on presale could still hit high levels in price growth, rewarding early entrants.
This is because if Bitcoin rallies again, altcoins will likely show improvement in their price action in the coming weeks. While the predictions remain a possibility, traders must rely on proper risk management techniques and proper research to be on the safe side.
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