Top Crypto Gainers on 13 February – ORDI and MNT
The total crypto market cap has risen to 1.96 trillion as the buyers exert dominance. Bitcoin leads this massive rally, breaking above $50,000 for the first time since 2021. BTC's resurgence confirms that it has finally overcome the effects of the last bear market.
Notably, liquidity from spot ETFs, speculation on lower inflation rates, and the upcoming halving have aided Bitcoin's recovery this week.
The positive market sentiment is also evident in the prices of altcoins, as some of them now rank among the top gainers today.These altcoins will likely rely on community support and exciting developments to sustain their price gains.
Keep reading for more exciting facts about the top-gaining assets in the overall crypto market below.
ORDI (ORDI) - The Bitcoin Inscription Ecosystem
ORDI has rallied by 14.6% in the last 24 hours and is trading at $70.29. Also, it has gained 28.7% this week.ORDI's rally is no surprise to investors due to its correlation to the price of Bitcoin, which broke above $50,000 on February 12, confirming rising interest from buyers.
ORDI remains the top BRC-20 token and reacts to BTC's price movement. So, the market conditions currently favor ORDI's price increase, and its utility for inscriptions makes it important to the BTC community.
On the daily chart, ORDI shows a strong bullish pattern, although some buyers are closing their trades.
ORDI Forms Rising Wedge Pattern: Will The Rally Continue?
ORDI entered an uptrend from February 5, with some retracements in between. It formed a large green candle on February 12, confirming that the buyers are in control of its price.
Although it formed a red candle today, it remains bullish as the buyers continue to dominate.
ORDI has overcome the $69.56 resistance level, leading to a break above $70. It faces resistance at $71.12, and a break above this level will result in a further price increase.
Also, ORDI is trading close to the upper band of the Donchian Channel (DC), which confirms the bullish sentiment today.
Additionally, the Relative Strength Index (RSI) indicator is approaching the overbought zone above 70 and displays a value of 62.31.So, ORDI will likely break above the $71.12 price level in the coming days to trade at $72 when the RSI moves to the overbought region.
Mantle (MNT) - The Ethereum L2 for Scaling and Decentralized Data
Mantle (MNT) is shining as one of the top gainers in the crypto world today, boasting a price of $0.716 over the last 24 hours. This surge in value follows South Korea's major cryptocurrency exchange, Bithumb, listing MNT for trading against the South Korean Won (KRW).
(#MNT)
New Listing : $MNT will be added to the KRW market today.For more details
https://t.co/qq2QJK7WO0
Airdrop EVENThttps://t.co/oxdLoBSkrf#bithumb #Listing #KRWmarket #Mantle @0xMantle pic.twitter.com/juivHaHUhN
- Bithumb (@BithumbOfficial) February 13, 2024
According to the news, the supported market is Korean Won, and the support network is Ethereum (ETH). The deposit is set to commence at 17:40 on February 13, 2024, while withdrawal commences at 19:00 the same day.
MNT, originally known as BitDAO (BIT), is a layer 2 project recognized for its impressive network speed and compatibility with Ethereum Virtual Machine (EVM).
With this listing and its strong technological features, Mantle (MNT) could continue attracting more gains in the long run.It's set to gain exposure to a broader audience and solidify its position in the crypto market.
As of 6:00 am EST, MNT trades at $0.7128, boasting a daily increase of 11.11% today, February 13.Its trading volume has further shot up by 359.45%, settling at around $192.7 million.
Moreover, the market cap is also up by 11%, with a $2.29 billion value today.
MNT Forming Green Candle Chain on the Daily Chart - Can It Surpass the Key Resistance?
In the chart above, MNT is bullish in the short and long term. It is trading above its upper and lower Bollinger bands, which serve as dynamic support levels for the coin's price.
It has formed a chain of green candle sticks, showing the increased buying activities in the market.The recent listing news triggered a dramatic change in Mantle's coin price action.
It touched the $0.78 level before its price dropped down to $0.70. Considering the increasing buying pressure, the coin could rally more, regain the $0.78 level, and potentially break above the $0.79 resistance level.
The Relative Strength Index (RSI) is already at 67.72 and is pointing upward, suggesting market movement to the overbought zone (above 70).
As with every crypto market, price movement stalls near resistance levels, and MNT's resistance is at $0.79.If it fails to surpass it, the coin rally will halt, triggering SELL orders.
While this could happen, MNT is still bullish and is expected to break above the resistance in the coming days.
Sponge V2 (SPONGE) - The Utility-Based Memecoin For Rewards
Sponge V2 is an exciting relaunch of the original $SPONGE project with more utility and a highly rewarding staking feature.Sponge V2 supports a buy and stake feature, and users can purchase the tokens from the official website.
Remarkably, Sponge V1 launched at $0.000025, while the V2 is currently worth $0.000963 per token.
This represents a 3850.14% price increase. So, investors who missed out on the $SPONGE early rally in 2023 have a chance to buy Version 2 now. Currently, around $9.23 million worth of $SPONGE has been bridged and staked, confirming the rising interest from investors for the token.
Sponge V2 Reviews Confirm Its Rising ProfileAnalyst Matthew Perry talked about the potential of Sponge V2 to his 208,000 subscribers. He advises investors to conduct their research on Sponge V2 and decide if it is worth the effort.
Further, he mentioned that users can easily buy and stake tokens by connecting to the official website securely.
According to Perry, Sponge V1 is trading on MEXC and Poloniex, among other exchanges, which he believes is a big deal. He also hinted at the possibility of listing on top exchanges, although there are no guarantees.
Additionally, he praised the Play-to-Earn (P2E) game for its utility and noted that it will attract gamers to the ecosystem.
His verdict is that Sponge will reward its holders with early gains as it progresses but will also produce late gains through staking rewards.If Sponge V2 achieves the targets on its roadmap, then it will likely become one of the best tokens to accumulate in 2024.
Meme Kombat - The Crypto Community's Battleground
Meme Kombat's presale has been a resounding success, with over $8.6 million raised and only 14% of the target amount left to secure.This significant achievement highlights the strong investor interest and confidence in the project.
Early investors stand to benefit greatly from this success, as the presale has already seen a substantial increase in value.
What's more! It has the potential for even greater gains as the project progresses.With the $MK priced at $0.279, early investors could potentially see significant returns on their investment.
Why Consider $MK for Investment?The viral project is set to challenge BONK's dominance this month. BONK currently ranks third in the meme coin chart.However, MK's upcoming debut on crypto exchanges could change that. Also, BONK's declining value since its peak in December is boosting MK's project's prospects.
GambleFi gives Meme Kombat vital utility in the crowded crypto space, which could translate into more profit. Although the main focus is on casinos and betting games, Meme Kombat introduces something new: an AI-powered battle arena.
In this arena, popular memecoin avatars compete for dominance and yield exciting rewards for the winners. The Meme Kombat advanced gaming technology also ensures fairness and transparency using blockchain technology.
The goal is to promote a competitive spirit in the meme coin community and on social media, allowing users to wager on battles and earn rewards as $MK tokens.
Also, the launch of Season 1 will provide a fresh platform for meme token enthusiasts and increase the demand for $MK, which also relies on a unique staking system. So, Meme Kombat is unique based on its engaging gameplay and modern features.
Therefore, it is a top choice for investors looking for meme coins that can yield substantial gains.
Final ThoughtsBitcoin has risen to a 1 trillion dollar valuation today, leading to a positive trend in the crypto market.Most altcoins and crypto-related stocks are soaring as investors try to take advantage of the ongoing rally.As Bitcoin teases a return to its all-time high value, most altcoins are also recording impressive gains.
The Bitcoin Halving in April could be the trigger that moves BTC above its ATH value.Nevertheless, prices might retrace slightly if BTC encounters resistance at $50,000.
Overall, early investors have the upper hand to record the most impressive price gains from this rally.
However, since price volatility remains constant in the market, investors must apply proper risk management techniques to protect their funds from sudden plunges.
The post Top Crypto Gainers on 13 February - ORDI and MNT appeared first on The Tech Report.