Top Crypto Gainers on 11 August – RUNE, SUI, And FTM
The crypto market is constantly evolving due to price volatility and changing trader sentiment. The crypto market has a market cap of $1.22 trillion, retracing slightly by 0.08% in the last 24 hours, with the drop reflected in some cryptocurrencies.
Despite the decline, some cryptocurrencies still record positive price movement due to positive development within their ecosystem and increased trading activity.
THORChain (RUNE) - High-Quality DEX Liquidity Protocol
RUNE is trading at $1.08, with a 3.0% increase in its price in the past 24 hours. Also, its seven-day gain is 16.3%. The trending topic in the THORChain ecosystem is the Streaming Swaps, an elite cross-chain protocol system.
.@THORChain has introduced a feature called Streaming Swaps." This detailed thread will dissect the intricacies of this transformative development in the decentralized cross-chain protocol ecosystem.
[1/24] pic.twitter.com/InkrLBNUzB- The Red Souk (@Red_Souk) August 10, 2023
Streaming Swaps is a mechanism that splits large transactions into smaller sub-swaps executing them in a specified time frame. The goal is to reduce costs for large transactions and improve efficiency.
Users can choose between the two swap options available, time-optimized and price-optimized. Time-optimized favors speed over other factors in the transaction, while price-optimized seeks the best price range to execute the sub-swaps.
This execution speed is limited only by the transaction speed of the individual native network involved in the swap. In this way, time-optimized swaps prioritize transaction speed over other factors.
[4/24]- The Red Souk (@Red_Souk) August 10, 2023
Users are given the option to choose between two types of swaps: time-optimized or price-optimized. The former is focused on executing swaps at the highest possible speed.
[3/24]- The Red Souk (@Red_Souk) August 10, 2023
The introduction of this innovation is likely to have a positive impact on the ecosystem since it aims to attract new users and increase liquidity and volume.
It hopes to surpass the performance of centralized exchanges in terms of privacy, speed, and price execution.Streaming Swap relies on a Time-Weighted Average Price (TWAP) trade model that operates within 24 hours.
This innovation is likely driving RUNE's gains in the last seven days. THORChain's DEX solutions make it one of the most sought-after liquidity protocols in the crypto sphere.
RUNE Testing $1.099 ResistanceRUNE is in an uptrend on the daily chart, trading close to the $1.099 resistance level as the bulls continue to push the rally. It pivoted off the $0.993 support level forming higher highs on the chart and showing a strong buy signal.
RUNE is in the upper region of the Donchian Channel (DC), confirming the bullish sentiment observed since August 6.
The Relative Strength Index (RSI) value is 70.94 in the overbought region and still rising, indicating a massive surge in buying pressure. It implies that more traders are entering long positions leading to a positive price outlook.
Also, the Moving Average Convergence/Divergence (MACD) is above its signal line, confirming the bullish trend. The Histogram bars are green, showing the buyers' market control.
RUNE will likely continue its rally until the RSI indicator retraces from the overbought region. However, expect further price gains if RUNE exceeds the $1.099 resistance level.
Launchpad XYZ (LPX)
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#Web3 #Presale #CryptoCommunity #Trade pic.twitter.com/QZ77ac9IPX- Launchpad.xyz (@launchpadlpx) August 11, 2023
The project draws massive attention in the crypto community featuring on popular news sites such as Inside Bitcoins, Cryptonews, and CoinTelegraph.
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#TradingBots #AltGem #Presale #Web3 pic.twitter.com/kPF8BbLWCT- Launchpad.xyz (@launchpadlpx) August 10, 2023
Launchpad XYZ relies on an Apollo AI to provide users with reliable trading insights, news, and sentiments. Its trading terminal is fast and highly efficient, helping traders take advantage of the volatile nature of the crypto market to make a profit.
Also, it seeks to bridge Web2 users with Web3 technology in a seamless process to maximize the full benefits.Launchpad XYZ gives its users an edge in the crypto market, shielding them from rug pulls and low liquidity projects.
Although the crypto market is volatile, Launchpad XYZ positions traders to profit from tokens about to pump with high-speed recommendations in real time.
Users will also benefit from the learning modules available on the platform and gain valuable knowledge while earning $LPX as rewards.One feature that makes Launchpad XYZ unique is the Launchpad Quotient (LPQ), a ranking system that relies on over 4000 data points.
The LPQ analyzes social and financial data to display a confidence and trust ranking for digital assets.
With Launchpad XYZ, trades no longer need to rely on anonymous groups for unreliable trading tips, with the advanced AI technology providing signals with a high success rate.
LPX PresalesLPX, the platform's native token, is on presale with over $1.26 million raised out of the presale target of $1.55 million. Each token is worth $0.0445, quite an affordable price for a valuable token.
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Users can buy LPX tokens with ETH, USDT, BNB, or direct bank card purchase. Based on its AI-affiliations Launchpad XYZ is primed for the crypto revolution of the future as the world becomes more AI-dependent.
Sui (SUI) - The Smart Contract L1 Blockchain
Sui is trading at $0.604, with a 1.7% increase in its price in the last 24 hours. Also, its seven-day gain is 1.6%. Sui's ecosystem has shown massive developmental activities in the past few days. The Shinami Gas Station is one such development.
It is designed to give developers and users a smooth experience on the network and maintains funds for specific apps processing gas fees as they are submitted.
A builder funds the app's gas station account for sponsorship through the Shinami dashboard. Users interact with an app through a connected wallet, starting a transaction such as minting NFTs.
The app sends the transaction to the Shinami Gas Station, verifying if the gas station account has enough funds.
The app then prompts the user to put their signature and approve the transaction through a wallet. SUI is the token that powers the gas station, and this increased utility is likely one of the factors behind its price gains.
Also, data from the Sui Foundation from Sui's Mainnet in the first 90 days reveals a rise in transaction volume with over 5,414 transactions per second process with 100 percent network uptime.
Sui's Mainnet launched officially on May 4, 2023, with over 65.8 million transactions in a single 24-hour period as its record for the most transactions in a single day. Also, daily active accounts hit a peak of 550,028, showing rising network activity.
Additionally, Sui announced DeepBook, a central limit order book (CLOB), as its first native liquidity layer. The DeepBook enables a hybrid automated market maker (AMM) and CLOB to serve its users and builders.
The DeepBook also attracts more users to the Sui blockchain based on the new liquidity feature and will likely boost the token's price.
Also, programs such as Hackathons incentivize builders and developers to utilize the Sui Move software. Several grants also boost developers' activity, while an active community contributes to network progress.
Grants and Hackathons continue to gain popularity in the crypto community creating an inflow of users for an ecosystem and boosting its value. SUI's price will likely benefit from these programs.
SUI Shows Limited Trade ActivitySUI has formed small-sized candles in the past week on the daily chart. It implies that despite its slight gains, trading activity is quite low, and trader indecision is rising in the market.
SUI found support at the $0.56 support level. However, it seems insufficient to send it above the $0.64 resistance level.
It trades close to the lower band of the Bollinger Band (BB), expressing a bearish sentiment on the daily time frame.Also, the RSI value is 40.13, dropping from the neutral zone to the oversold region as the bears seek to take control of the asset's price.
The MACD is slightly above its signal line, indicating a slight increase in buy trades today. However, the price gains are minor, a sentiment confirmed by the small-sized green Histogram bars.
SUI will likely retrace to rest on the $0.56 support level until the bulls rally again to force a price recovery.
Wall Street Memes (WSM)
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Wall Street Meme (WSM) is a meme coin project powering the next crypto revolution drawing inspiration from the tenacity of Wall Street traders.
According to the developers, it is the ultimate weapon against rampant capitalism in society. It seeks to inspire traders who have lost some investments in the crypto market to rally again and embrace the next memecoin wonder, following in the footsteps of Shiba Inu and Dogecoin.
This time is different I promise (I've said this 2456 times) pic.twitter.com/WNpiOfww4L
- Wall Street Memes (@wallstmemes) August 11, 2023
2023 is often referred to as memecoin season, with investors taking advantage of new memecoins to reap unbelievable rewards like early $PEPE and $SPONGE investors.
Wall Street Memes is not just a memecoin but a community movement that embodies the fun side of trading, keeping its users engaged with rib-cracking memes.
With over 1 million community members, unlimited memes, and over 40 million page impressions each month, it is easy to see why the crypto community eagerly awaits its launch.
According to the roadmap, the developers plan to create a thriving ecosystem built around their memes with WSM-branded merchandise available to users.
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Also, after its listing on reputable exchanges, a gated community will be formed where early updates, interactive experiences, and exclusive content will be available for members.Additionally, meme contests will take place to unleash the creative spirit among WSM users.
WSM is ERC-20 compliant since it operates on the Ethereum blockchain. Therefore it benefits from the security of the Ethereum network. WSM has total supply capped at 2 billion tokens, with a fraction available on presale.
WSM Presale
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The WSM presale is ongoing and arguably one of the best presales in 2023, raising an unbelievable $23.13 million out of its goal of $23.97 million. Presently, 1 WSM token is worth $0.0331, and its price will increase to $0.0334 by the next stage in a few hours.
With the massive success of the presales so far, it is safe to say that it is approaching its conclusion, and investors must act fast to take advantage of the low price.
Users can purchase these tokens with ETH, BNB, USDT, or bank cards. Also, a secure crypto wallet such as Meta Mask or Trust Wallet is vital to store these tokens after purchase.
Fantom (FTM) - The DeFi Smart Contract Platform
FTM is trading at $0.241 at 10:10 am EST with a 0.5% increase in its price in the last 24 hours. Its 7-day gain is 2.0%.
Fantom, on August 10, announced that Amazon Web Services(AWS) launched a workshop on its platform equipping Web3 developers with skills to create decentralized fantast games.
This Web3 Development project on Fantom is hosted on the AWS cloud infrastructure comprising four labs which will eventually increase to five. This is likely one of the factors driving the price gains on August 11.
Fantom seeks to bounce back from the multi-chain exploit of Spirit Swap decentralized exchange. Fantom lost approximately $126 million to the hack, and information from DeFiLlama reveals that Fantom's TVL decreased by 36.91% in the last seven days.
FTM In A Sideways Trend
FTM is trading in a sideways trend on the daily chart reflecting traders' indecision in the market. The small-sized candles reflect a drop in trading volume, likely a result of rising FUD levels for assets.
Despite finding support at the $0.23 price level, the bears at the $0.35 resistance intend to limit their further price gains. FTM is trading below its 50-day and 200-day SMA, expressing a bearish sentiment.
However, its RSI value is 46.02 in the neutral zone and just beginning to rise, presenting a tricky situation for traders due to price volatility.
Also, the MACD is rising above its signal line, confirming the bulls' return on August 11. The Histogram bars also reflect this bullish sentiment hinting at the possibility of a price recovery.
FTM will likely build on its gains in the coming days if it can overcome the $0.35 resistance level. However, a price drop for the asset remains a possibility.
ConclusionThe top gainers benefit from positive investor sentiment within their ecosystem. However, crypto market volatility can change their price pattern unexpectedly.
Traders must conduct research and apply risk management techniques to stay ahead of market turbulence. Some popular methods include trailing stop loss.
Also, some ongoing presales offer investors a chance to uncover the next crypto rally and join a project early for possible gains.Artificial Intelligence, Web3, and memecoins are some of the top-ranking niches in the crypto space in 2023, likely to yield rewards for investors.
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