Top Crypto Gainers December 6, HNT, BTT, And AVAX
The crypto market continues in the bullish momentum, rising further to a market cap high of $1.68 trillion today, December 6.Bitcoin trades at $44,216 at 5:37 AM EST, with a 6% increase in the last 24 hours.
This confirms an ongoing bull run, with BTC targeting the $45,000 mark.
Investor sentiment in the crypto market today leans towards greed as more traders rush to accumulate tokens, anticipating a more profound bull market.
This uptrend is also evident among altcoins, with notable increases in their trading volumes and prices in the past 24 hours.
Given this, the top-gaining altcoins identified in today's market include HINT, BTT, AVAX, and TG.Casino. Let's look at how high they've rallied and the factors fueling their uptrend.
Helium (HNT) - The Node Network For Wireless Connections
HNT's price at 7:36 AM EST is $4.21, with an approximately 53% increase in the last 24 hours. Additionally, HNT has gained over 44% in the past week as buyers continue to accumulate more tokens.
Helium developers have been quite busy this year with vital improvements made in their ecosystem and services. And this has contributed immensely to its price growth.
1/ HIP 74, MOBILE PoC - Modeled Coverage Rewards, and HIP 85, Adding MOBILE Hex Coverage Limits to Outdoor Radios, Are Implemented!
- Helium Foundation
(@HeliumFndn) December 4, 2023
One of the upgrades is the rewards for 5G hotspot owners. Network builders are now compensated adequately for creating high-quality signals measured by modeled data.
The new proposal suggests that the Helium 5G network uses smaller hexes than the Internet-of-Things (IoT) network.Also, changes were implemented in the rewards algorithm.
So, only the best-performing radios that provide coverage for a given hex will be eligible for rewards.The Helium Mobile team also developed a coverage map tool to help estimate how much coverage could be created with a Hotspot.
Ultimately, the goal is to improve the value of the Mobile Network coverage by rewarding users.
The developers hope to encourage network coverage and deployment in new areas.Following these remarkable developments, HNT has continued to rally. A large green candle has formed on the daily chart, confirming buyers' dominance in the last 24 hours.
HNT Shows Bullish Breakout Pattern. What's Next for the Token?
HNT has built on its gains from December 5 to form a Maribozu candle on the daily chart. The buyers have forced a break above the $3.02 price level, flipping it to support.
Also, the long upper wick on today's candle suggests strong bullish pressure as the buyers target a break above $4.20.
If this occurs, then HNT will likely rise to $5 in the coming weeks.Additionally, the Relative Strength Index (RSI) is in the overbought region above 70 and is still rising with a value of 85.17, confirming the bullish dominance.
Furthermore, the Moving Average Convergence/Divergence displays a strong buy signal rising, confirmed by the green Histogram bars. These indicators suggest that HNT will likely break above the $4.20 resistance level in the coming days to trade at $5.
BitTorrent (BTT) The Decentralized Protocol Blockchain
BTT's price at 7:44 AM EST on December 6 is $0.00000097, with a 97.7% increase in the past 24 hours. BTT's price is up by 124.0% in the past week as more traders open long positions on the daily chart.
BitTorrent developers proposed to bring quality improvements to the ecosystem in late November, which has amplified BTT's gains amid the ongoing market-wide rally.
The BTIP-25 proposal aims to add AWS S3 compatible API services to the #BTFS protocol. See BTIP-25 in details: https://t.co/Q0YAZjw1YS
The proposal is currently in Living status and you are welcome to join the discussion and give your comments on Github: https://t.co/Fe8Xn7pfKP pic.twitter.com/b0TM5HBqvc
- BitTorrent (@BitTorrent) November 30, 2023
The goal is to create a better internet for the free movement of information. Moreover, an ecosystem report on November 29 revealed that the total number of miners in the ecosystem exceeded 7.25 million, and the total storage contracts were above 131 million.
The total revenue realized in the ecosystem has also increased, exceeding 228.24 BTT, a healthy turnover. Amid these developments, BTT continues building on its gains, which is evident on the daily chart.
BTT Enters Overbought Region, Will the Rally Retrace Or Continue?
BTT has found support at $0.00000051, overcoming a strong resistance level to form a Maribozu candle. The long upper wick of today's candle suggests that the buyers are attempting to break above the $0.00000097 price level.
The leap from $0.00000051 to $0.00000097 within 24 hours shows an aggressive ongoing accumulation phase. Also, BTT is trading above the Parabolic SAR indicator, suggesting a strong bullish momentum for the token.
The RSI is extremely bullish, with a value of 92.44, and is still rising, indicating the high buy pressure in the market and the bulls continuing to accumulate tokens. Given this, BTT will likely break above $0.00000097 to trade at $0.000001 in the coming days.
Avalanche (AVAX) - The Smart Contract Ethereum Rival
At 7:46 AM EST, AVAX trades at $25.61 with a 24-hour increase of 16.2% and a 21.5% weekly gain. These gains come amid significant buzz in the Avalanche's ecosystem following exciting completed and ongoing projects.
The most exciting projects in the @AVAX ecosystem
Avaissance, Evergreen, Firewood, and Teleporter (coming soon). And, crossing over 1 billion total transactions since launch. There's plenty to be excited about with Avalanche.
Let's get to it! pic.twitter.com/r2Cogw4Mzj
- Jay Kurahashi-Sofue
(@jayks) December 5, 2023
Some of the projects are Avaissance, Firewood, Evergreen, and Teleporter. Remarkably, Avalanche has crossed the 1 billion transaction mark this year, an important milestone showing increased community engagement.
Currently, 1,500 validators on the network verify transactions with fast transaction finality.
Also, over 2.8 million AVAX tokens have been burnt, reducing the total circulating supply and boosting its market value.Another notable addition to the network was bridges like the StargateFinance multi-chain bridge.
There's also the AVAX Bridge on CoreApp, which helps move assets between Bitcoin, Ethereum, and Avalanche. Another is the deBirdgeFinance, a multi-chain bridge that has liquidity pools.
One more area of improvement is the DeFi and DEX sectors. The DEX area has a reliable AMM design, and its Liquidity Book boosts capital efficiency and reduces slippage. DeFi and non-custodial lending with liquid staking are available on Avalanche and other third-party providers.
Furthermore, AVAX tokens are now available on GMX.IO and HubbieExchange for perpetual trading and cross-margin options. These developments must have amplified AVAX gains, as it forms a breakout pattern as the buyers continue to sustain the ongoing rally.
AVAX Buyers Break Above The $24.58 Resistance, What Next?
AVAX has formed three consecutive green candles on the daily chart with higher highs as it continues its rally. AVAX has flipped the $24.58 resistance level to support.
Presently, AVAX is attempting a break above the $26.26 resistance level as the buyers continue to force a rally on the price chart.
The token is trading close to the upper band of the Donchian Channel (DC), confirming that the buyers are dominating its price. Additionally, the RSI value is 76.80 in the overbought region above 70 and still rising, hinting at a continuous uptrend for AVAX.
Considering this, AVAX will likely break above $36.36 in the coming days if the buyers sustain the present momentum. However, traders must watch out for a possible retracement in the RSI to prevent losses.
TG.Casino - Multi-Rewarding Features and Anonymous Betting Platform
Most new projects in 2023 use multi-step presales. This is to encourage investors to buy early and profit from rising prices.However, TG.Casino goes with a single presale, offering discounted $TGC tokens at $0.175 each, raising over $3.4 million.
This suggests investors value the project's essence over the presale stages. TG.Casino is a Telegram-based crypto casino merging online gaming with cryptocurrency. It uses Telegram's security for anonymous gaming, offering various games and real-time interactions among members.
The casino's token, $TGC, is central to its ecosystem, providing rewards and loyalty benefits and backing future partnerships. Blockchain tech ensures minimal fees and flexible withdrawals for investors.
The platform plans to host standard casino games and a sportsbook upon launch.
Staking $TGC will grant holders high annual returns and boost token scarcity, potentially raising its value. TG.Casino's appeal lies in its Telegram exclusivity, ongoing presale, and potential for growth in the burgeoning crypto casino market. Factors like anonymity, fast transactions, and a unique rewards system make it stand out.
Additionally, it's licensed by the Curacao Gaming Commission, adding credibility to the project. Launched in a year marked by regulatory challenges and volatile crypto markets, TG.Casino offers presale tokens at discounted prices, attracting investors seeking short-term gains amidst market uncertainty.
TG.Casino is showcasing its best features to attract attention before its presale ends. These features mean significant returns for those who invest early once the product is running. We've looked into these basics and compared them with today's market to predict TG.Casino's future price.
Right now, TG.Casino's token, $TGC, is up for grabs at a low cost. If you're keen, you can check out the official website through the link provided and join in on this presale.
ConclusionThe market conditions favor the buyers as the total value of cryptocurrencies increases. Also, in 2023, developments such as cross-chain swaps, Web3, Metaverse technology, and AI led to the launch of several new crypto projects.
Today's top gainers are benefiting from the bullish moves of Bitcoin and remarkable developments in their ecosystem. Also, crypto adoption is rising after several issues arose from the traditional banking system.
Nevertheless, investors must still conduct proper research to prevent extreme losses due to price volatility.Alternatively, presale tokens offer another route to possible profits, although, with crypto, there are no guarantees.
The post Top Crypto Gainers December 6, HNT, BTT, And AVAX appeared first on The Tech Report.