2023-11-04 19:29:00
Over the past few years, Ripple (XRP) has been performing well and attracting the attention of investors and traders. We tell you what other coins are being invested in this year
The Ripple cryptocurrency (XRP) has been on a tear over the past week, up nearly 10% overall. During the day, the token rose in price by 4.8%, reaching $0.60. The coin failed to reach this level for two and a half months.
XRP started its uptrend seven days ago. Since August, the coin’s value has been hovering around the $0.46 to $0.55 range, but after XRP found support at the 200-day moving average (DMA), it was able to break above that level.
Analysts cite two main reasons for the growth in the value of XRP. First, the altcoin’s latest gains come amid growth in the broader cryptocurrency market, led by Bitcoin (BTC). The premier digital currency may soon join the ranks of spot exchange-traded funds (ETFs).
The second factor explaining the recent jump in XRP is the activation of large investors. As data from the XRP Ledger network shows, “whales” have switched to coin accumulation mode.
According to Whale Alert, 30 million XRP tokens were recently withdrawn from the Bybit exchange and sent to an unknown wallet. Previously, another 50 million assets were transferred from the Crypto.com platform to an anonymous address.
Investors typically withdraw their assets from trading platforms when they plan to hold cryptocurrency and take them to exchanges for the purpose of selling.
The latest activity suggests that whales have begun accumulating XRP. However, the Bitstamp platform recently received 25.3 million tokens, and market participants suspect that this may have something to do with Ripple Labs.
In addition, the cryptocurrency is gaining momentum as the litigation between Ripple Labs and the US regulator SEC develops. So far, market participants are of the opinion that victory may still remain with the XRP developers.
Earlier, in July of this year, the US Securities and Exchange Commission suffered a partial defeat in court. In addition, the SEC annulled the charges brought against two main managers of Ripple.
Alternatives to XRP – new cryptocurrencies that are actively being invested in in 2023
Purchasing an altcoin as part of its pre-sale can be a profitable investment. A new cryptocurrency, as a rule, is supported by developers for a long time, which contributes to the rapid development of the project. Moreover, in a competitive market, crypto startup creators are releasing innovative concepts that are more likely to be successful. Currently, the BTCMTX and MK coins are attracting the attention of investors.
Bitcoin Minetrix – a new tool for BTC mining
Cloud platform developers Bitcoin Minetrix (BTCMTX) offer a new way to “mine” BTC – more decentralized and cheaper thanks to the use of the Ethereum architecture.
Mining Bitcoin the traditional way will require expensive equipment and significant technical knowledge in this area. In addition, this method of earning assets causes enormous harm to the environment.
Bitcoin Minetrix simplifies this process and makes it greener for retail investors. The project’s native token, BTCMTX, is staked in exchange for cloud mining credits. These assets are burned, and the user earns bitcoins. The more tokens burned, the more BTC received as rewards.
The idea is implemented through a dashboard where users can burn, withdraw or stake tokens. Additionally, they can control daily, weekly and monthly BTC rewards.
A total of 4 billion BTCMTX tokens will be issued, of which 77.5% will be available for purchase during 39 pre-sale stages. Now the cost of one coin is $0.0113, but there is less than a day left before the increase.
Features of the project include:
low participation limit in mining – only $10; distribution of $30,000 in BTCMTX tokens; “mining” BTC through the Bitcoin Minetrix dashboard, which will be released in both web and mobile versions.
MORE ABOUT BITCOIN MINETRIX HERE
Kombat memes – meme cryptocurrency and game for making money
In 2023, investors are more attracted to meme coins than other types of cryptocurrencies. For this reason, it is not surprising that many new coins are appearing in this niche. The latest project to join the meme ranks was Kombat memes and its own token MK.
This cryptocurrency platform includes several key aspects that differentiate it from other Web3 projects. First up, the meme battle arena. MK token holders can bid on a variety of characters, from Floki to Sponge, for potential rewards.
Secondly, passive income from staking. The MK coin staking process is designed with user convenience in mind: it has a 14-day lock-in period, and rewards are awarded during the presale. This helps maintain long-term stability in the ecosystem.
The current pre-sale has already raised $1 million, indicating strong investor demand. There are less than 2 days left until the start of the next pre-sale stage. The token price is $0.1667. As the pre-sale stages progress, MK will gradually become more expensive.
Additional benefits:
you can earn in-game prizes and digital currency MK by betting on the victory of the selected meme; annual percentage yield offered to pre-sale investors is 112%; The meme project has a high level of transparency, since the developer presented himself on the project website.
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