Top Crypto Gainers on 18 March – AVAX and RNDR
The new week has come with a new turn of events. Trading activities in the broad crypto market have dropped by 22.46% to $120.71 billion. This decrease hints at a consolidation phase, a factor that comes into the picture after a long period of intense trading activity or high volatility.
Besides consolidation, holiday periods or major global events could impact trading activity in the crypto market as investors tend to focus on other priorities. For instance, an international Islamic event, the Ramadan fasting, which commenced on March 10, could be one of the factors behind this reduction.
While this could pose a negative sentiment, some coins are acting outside the orbit of the broad crypto sphere. Without a doubt, the overall trading volume is down. Still, today, assets like AVAX, RNDR, Scotty AI, and Green Bitcoin are boasting significant increases in 24-hour trading activities and prices.
We'll explore these top gainers today to better understand why they are not succumbing to the declining trading volume trend in the broad market.
Avalanche (AVAX) Gains 12% After Binance Makes a Pivotal Announcement
Today, the value of Avalanche (AVAX) in the crypto market shot up by almost 12%. This significant increase happened after a prominent crypto exchange, Binance, announced its support for Avalanche.
The exchange plan is to add a new way to trade AVAX using a USDC-margined AVAX Perpetual Contract on their Futures platform.
This means people can trade AVAX with more buying power, up to 75 times more than usual. This news garners excitementaround Avalanche's ecosystem, boosting the confidence of those investing in AVAX.
Binance's move is seen as a big reason the price of AVAX has increased so much. However, this isn't the only good news for AVAX recently.
The Avalanche Foundation, the group behind AVAX, also announced that they are growing their team, which made people feel even better about investing in AVAX. AVAX is selling for about $63.28, up by 12.90%.
Its trading volume has also increased by 28.86% to over $2.27 billion, and even in the past month, the coin's value has jumped by about 50%, which is impressive.
AVAX Maintains Its Higher Highs and Higher Lows - Can The Rally Last?
In the chart above, the Avalanche token (AVAX) trades a few pips above its Upper Bollinger band, which serves as dynamic resistance today.
Having rallied above this resistance, the upper band could likely become a dynamic support level for AVAX, triggering a bounce to the upside in the coming days.
Also, considering the position of the middle band, price retracement toward the $47 mark could be a strategic area to enter the market, riding along with the potential uptrend.
Avalanche's MACD and RSI Suggests Further Price Rally
According to the Relative Strength Index (RSI) indicator, the market condition is overbought (above 70), indicating increased buying activities. As the BUY orders remain higher than SELL orders, the RSI pointing up could exceed 70 and above, implying a consistent price gain for AVAX in the overbought region.
Again, the coin's Moving Average Convergence Divergence (MACD) is above the signal line and has bold green histogram bars. This indicator hints at strong bullish momentum propelling the coin's price to the upside. \As a result, AVAX could be worth $100 in the coming days.
However, it's advisable for traders and investors to consistently implement intelligent risk management strategies like stopping losses and making a profit. This prevents them from massive losses during volatile market movements.
Render (RNDR) Pumps Amid NVIDIA's GTC Event
The price of Render Token (RNDR) has hit a record high of $13.6, thanks to the recent NVIDIA GTC 2024 event.The event made more people pay attention to blockchain-based rendering and graphics processing.
As such, investors and crypto enthusiasts now see the potential in decentralized rendering solutions, thereby spiking the demand for RNDR.
Consequently, its value has been pushed to new heights. Early investors and big holders are taking advantage of the hype to cash out some of their profits while still keeping a lot of RNDR in hopes of making even more money.
As RNDR's value kept increasing, three giant whales took advantage of the surge to make money, selling off 2.5 million RNDR tokens. This transaction was worth about $30.8 million on centralized exchanges (CEX) as of March 17, according to SpotOnChain.
Considering the enriching price potential of Render RNDR, it's perceived as a rare gem asset in the market. Notably, its recent price performance is outstanding.
In the past 24 hours, it increased by 14.9%, and over the past week, it increased by 3.7%. Again, in the last month, it boasted a 144.8% increase with a yearly 716% increase.
Bullish Render Forms Red Candlestick - Can The Bears Override the Overall Trend?
In the chart above, Render (RNDR) is trading above its 50-day and 200-day Simple Moving Average (SMA), which signifies an overall bullish market in the short and long term. It has remained above its previous low at $10 despite price fluctuations.
Also, the coin has a support level of $10.2, a level prone to trigger a bounce in price once any retracement occurs. Furthermore, Render's Moving Average Convergence Divergence (MACD) is above the signal line, indicating a bullish momentum that could propel the rally upward.
Thus, RNDR could reach $12 and beyond in the coming days. However, as with every digital asset, volatility is inevitable. The chart above shows thatRNDR's histogram bars are faded, along with a horizontal resistance at $13.6. With these in play, the coin's rally could stall before any significant movement upward.
In that case, traders and investors should utilize their risk management strategies properly to avoid any potential losses in the long run.
Scotty AI (SCOTTY) Ends Presale with Massive Funds Raised So FarScotty AI has made waves as one of today's top performers thanks to its successful presale, which has now completely sold out. The project's appeal lies in its impressive fundraising and its promising use cases, attracting investors to snap up tokens during the presale in record time.
According to ClayBro's assessment, Scotty has an innovative blend of meme coin excitement with cutting-edge AI functionalities, which puts it ahead of conventional crypto ventures.
The conclusion of the SCOTTY token presale has exceeded expectations, demonstrating significant demand from the crypto community, with daily transactions surpassing $1 million.
As a result, the decision has been made to offer the remaining tokens at the launch price rather than providing a discount, marking the final chance to participate before SCOTTY becomes available on exchanges.
SCOTTY's Growth Variables in the Crypto Market
Scotty the AI introduces a fusion of meme coin enthusiasm and advanced AI capabilities, poised for potential exponential growth following its presale success.With an impressive $6.5 million raised during the presale, Scotty the AI's swift sell-out indicates considerable interest in the project's prospects.
Although the presale has ended, interested parties still have an opportunity to acquire SCOTTY tokens at the launch price before they hit exchanges.This offer commenced at 9 am GMT on March 11, so if you're interested, join now!
This presents a potential profit-making opportunity for investors, as the high demand witnessed during the presale suggests the possibility of a price increase upon listing.
The Scotty AI team plans to list the SCOTTY token on multiple centralized exchanges, including at least two top-tier platforms, with further details to be announced soon.
The project stands out in crypto for its dedication to enhancing security and privacy through AI-powered solutions. It offers a range of products, including Scotty Chat, an AI-powered crypto companion, and Scotty Swap, a platform for seamless token swaps driven by AI.
Additionally, the project offers staking opportunities for token holders, allowing them to earn passive income with an impressive APY over three years.With the presale concluding earlier than expected, Scotty the AI presents an enticing opportunity for early adopters.
As such, acquiring tokens at the launch price before they hit exchanges could lead to significant gains.
Green Bitcoin (GBTC) Blooming Project Thanks to its Eco-friendly Nature
The eco-friendly crypto, Green Bitcoin (GBTC), is making waves in the market today. With its ongoing presale raising an impressive $5.97 million, it's no wonder GBTC has become a top gainer in the crypto world.
What's driving this surge? Besides the substantial funds raised, investors are drawn to GBTC's promising use cases.
"The Winning Strategy Behind Green Bitcoin's $5 Million Raise"
Check out this article by News BTC to learn more about our revolutionary Predict-To-Earn platform!https://t.co/ZoqGRbAqVD
- GreenBitcoin (@GreenBTCtoken) March 17, 2024
Unlike traditional Bitcoin mining, which relies on energy-intensive processes, GBTC utilizes Ethereum's Proof-of-Stake (PoS) blockchain, making it a greener alternative.
Why is Green Bitcoin gaining traction?
This environmentally conscious approach aligns with current sustainability trends and offers investors the potential for significant rewards. One standout feature of GBTC is its innovative reward system. Holders of GBTC tokens can expect a base staking rate of 100% annually, with additional bonuses for accurate predictions in designated green zones."
This gamified staking model not only incentivizes participation but also fosters community engagement. With 50% of the total token supply reserved for presale participants, the GBTC team is confident in sustaining momentum well into the future.
By combining Bitcoin's legacy with sustainable practices and innovative rewards, GBTC aims to attract and retain investors. Moreover, GBTC introduces Gamified Green Staking," offering users dynamic opportunities to earn rewards through weekly challenges. This adds an exciting dimension to the staking process, making investing in GBTC profitable and enjoyable.
Moreover, joining the GBTC presale is straightforward, with multiple payment options, including BNB, to accommodate users seeking to avoid high Ethereum fees.This inclusive approach demonstrates GBTC's commitment to accessibility and user satisfaction, making it a game-changer in the industry.
So, if you want to invest in a greener future while earning impressive returns, check out GBTC more.
Wrapping UpToday's top crypto gainers have showcased remarkable performance, reflecting the dynamic nature of the digital asset market. Each gainer has carved its path to success from Avalanche (AVAX) to Green Bitcoin.
As investors navigate the ever-changing landscape of cryptocurrencies, these standout performers serve as a reminder of the potential for growth, innovation, and opportunity within the crypto space.
Whether driven by technological advancements, market trends, or investor sentiment, the surge in these top gainers underscores the ongoing evolution and resilience of the crypto market.As we move ahead, investors must remain vigilant, conduct thorough research, and stay informed to capitalize on future opportunities in the rapidly evolving ecosystem.
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