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The cryptocurrency market capitalization has seen a slight decline, falling by 1.92% during the Last 24 hours until reaching 1.28 trillion dollars. During this period, the total trading volume in all cryptocurrencies amounted to $47.87 billion, a significant decrease of 18.61%.
Notably, the decentralized finance sector contributed $4.7 billion, accounting for 9.83% of the 24-hour crypto market volume. Meanwhile, stablecoins maintained their strength, accounting for $42.94 billion or 89.70% of the total 24-hour crypto market volume.
bitcoin saw a slight drop in its dominance, settling at 52.70%, down 0.13% on the day.
As the week approached, stocks They were on track to record their most significant weekly gains in a year. At the same time, bond markets rallied and the US dollar found itself on weaker ground as investors welcomed a temporary halt to US interest rate hikes.
The next cryptocurrency to explode
The upcoming release of US employment data later today is now the main point of interest for market participants.
In the wake of the US Federal Reserve’s decision to hold interest rates on Wednesday, along with Chairman Jerome Powell’s statement on a balanced outlook for rate adjustments, 10-year Treasury yields benchmarks have fallen more than 20 basis points in just two trading sessions.
1. Trusted Wallet Token (TWT)
Today, Trust Wallet (TWT) is priced at $1.28, with a 24-hour trading volume of $161.90 million. This reflects an impressive 18.12% price increase over the past day and a notable 21.87% increase over the past week. With a circulating supply of 420 million TWT tokens, Trust Wallet has a market capitalization of $537.21 million.
The all-time high ever recorded for TWT was $2.72, a milestone reached on December 11, 2022, approximately 11 months ago. Currently, the price is 52.46% below this all-time high.
In contrast, Trust Wallet’s (TWT) all-time low dates back to just $0.00277641, dated June 9, 2020, and spans over three years. In comparison, the current price is a staggering 46,485.77% higher than this all-time low.
Join us for another live session with @1 inch as we explore themes such as exchanges, community and our partnership.
Submit your questions below for a chance to share 1000 $USDC https://t.co/zdKCFs7kmF
— Trusted Wallet (@TrustWallet) November 2, 2023
Assessing Trust Wallet’s price performance relative to its peers, it is evident that it has outperformed the overall global cryptocurrency market, recording a 23.20% increase in the last seven days compared to 2.0% growth. 70% of the world market. Furthermore, compared to other cryptocurrencies within the BNB chain ecosystem, Trust Wallet has also been outperforming, while its peers have seen no change.
As for the current market sentiment around Trust Wallet, it is overwhelmingly positive, with more than 78% of users expressing confidence and optimism in Trust Wallet (TWT).
2. Pancake (Cake) Exchange
PancakeSwap (CAKE), the leading decentralized exchange (DEX) platform operating on Binance Smart Chain, has regained momentum and seen a notable rise in its price. As of the last update, the altcoin is up 28%, reaching $1.55. This trajectory marks a parabolic rise to its highest price last month. In this way he secures his place as next cryptocurrency to explode.
This increase in value can be attributed to three notable announcements that have sparked a flurry of buying activity. First, the DEX protocol proudly revealed the successful completion of its most recent revenue distribution to participants in its staking program. Despite the relatively modest distribution of 13,977 CAKE units, PancakeSwap’s ability to attract active participation from the broader community stands out.
Secondly, PancakeSwap made a splash by announcing the listing of the USDⓈ-M CAKE perpetual contract on Binance Exchange. This list is of great importance due to the substantial size of the Binance community and the exposure it promises for CAKE prospects.
Proposed adjustments to agricultural rewards
We propose to adjust CAKE rewards in our v3 deployments across all 8 chains to reduce overall CAKE issuance and increase CAKE consumption while maintaining sufficient liquidity to facilitate a smooth trading experience.
Vote for free… pic.twitter.com/jyDxZWtw1J
– PancakeSwapEveryone’s favorite DEX (@PancakeSwap) November 2, 2023
In addition to these developments, PancakeSwap also confirmed a notable milestone: its DEX spanning the V1, V2, and V3 protocols has generated a staggering $600 billion in trading volume. This achievement underlines the vitality of retail trading activities and is complemented by a notable 799.16% increase in daily trading volume, now at $127.35 million.
3. Chronos (CRO)
Cronos has had an outstanding performance in the cryptocurrency market and, in fact, the next cryptocurrency to explode this week. The token soared to a high of $0.070, marking its highest point since May 8. Surprisingly, CRO has witnessed an increase of almost 40% from its lowest point this year, firmly establishing a significant support level at $0.050.
Cronos not only broke above but also surpassed the 50- and 25-day exponential moving averages (EMA), underscoring its bullish momentum. At the same time, the Relative Strength Index (RSI) has ventured into extreme overbought territory.
Next Cronos AMA announcement
Join us in an eventful Twitter space to talk all things liquid betting derivatives at @cronos_chain!
Date: November 7, 1PM UTC
Location: Cronos SpacesSet your reminder #CROFam! pic.twitter.com/imUDJFKXcV
– Cronos (@cronos_chain) November 1, 2023
As a result, the outlook for Cronos remains decidedly optimistic, with the next critical level of interest at $0.081, representing the highest swing point seen on April 28. Alternatively, in a different scenario, the coin may revisit the support level at $0.060.
4. bitcoin Minetrix (BTCMTX)
bitcoin Minetrix (BTCMTX) It is one of the most promising companies in the current market panorama. It has become the next cryptocurrency to explodewaiting for its release.
#BitcoinMinetrix versus traditional cloud mining
Entry cost comparison: #BTCMTX = Low cost entry with a fixed commitment period.#ConventionalCloudMining = Requires substantial initial deposits. pic.twitter.com/rptO3i0BlH
—Bitcoinminetrix (@bitcoinminetrix) November 2, 2023
Distinguishing itself with an innovative “Stake-to-Mine” concept, bitcoin Minetrix invites regular cryptocurrency enthusiasts to actively participate in the bitcoin mining process. This novel approach involves staking BTCMTX, bitcoin Minetrix’s native token, in exchange for non-tradable cloud mining credits. As a result, it democratically opens up the realm of bitcoin mining to the general public, eliminating the need for complex computer equipment or specialized expertise.
What sets BTCMTX apart is not only its facilitation of bitcoin mining, but also its remarkable Annual Percentage Yield (APY) of over 185% at the time of this report. This high APY not only promises significant cloud mining benefits but also generous rewards for token holders.
Additionally, bitcoin Minetrix is holding a pre-sale event, providing the opportunity to purchase BTCMTX tokens at a discount rate of $0.0114. The project has already amassed over $3.1 million in funding and the development team is determined to launch BTCMTX on exchanges once the pre-sale concludes.
Considering the significant traction seen during the pre-sale and the notable rise in the bitcoin Minetrix Telegram community, BTCMTX emerges as a compelling altcoin that investors may want to explore for their portfolios.
Visit bitcoin Minetrix.
Read more
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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