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FTX customers are set to receive over $12 billion in payouts after a court-approved distribution plan. The cryptocurrency exchange will begin reimbursing former users in the coming months, providing access to their locked assets since FTX’s collapse. According to Alex Thorn, Head of Research at Galaxy Digital Holdings, the first disbursement of $1.1 billion, while modest, could positively impact Bitcoin.
Bitcoin (BTC), the largest cryptocurrency by market cap, might see an upward trend in October despite a sluggish start. Currently, BTC is priced at $62,311.60, reflecting a 0.6% decline in the past 24 hours but a 1% rise over the last week. Meanwhile, tokens on the platform have posted rallies. This article curates the top trending cryptos on Solana Chain today.
Most Trending Cryptocurrencies on Polygon
TakiToken is currently valued at $0.0523, showing an intraday rise of 22.07%. Krasnalcoin stands at $0.000204, with a market capitalization of $197,000 and a daily trading volume exceeding $2,000. tSILVER is priced at $0.893, with a market cap of $1.76 million and a circulating supply of 1.97 million TXAG tokens out of a maximum supply of 2.09 million.
Meanwhile, the newly launched Flockerz project has quickly garnered attention, raising over $560,000 in its presale, positioning it as a significant player in the market. In other news, FTX has received approval to repay almost all customers 119% of their allowed bankruptcy claims.
1. TakiToken (TAKI)
TakiToken is priced at $0.0523, recording an intraday surge of 22.07%. It holds a market capitalization of approximately $14.44 million and has a 24-hour trading volume of $28.15 thousand.
The trading volume recorded was 152,700, suggesting relatively low activity during this timeframe. This limited trading activity may imply a lack of strong market interest, making the price vulnerable to more significant swings with new trades.
Furthermore, the candlestick patterns illustrate a volatile session, with noticeable upward movement before a downturn. The presence of large green candles preceding the final red candle indicates a short-term surge in buying activity, followed by a correction. The last red candlestick suggests selling pressure after a brief increase, which might represent profit-taking or an initial stage of a trend reversal, depending on upcoming price movements.
Recently, TakiToken’s price increased from below $0.04200 to over $0.05200 within approximately 12 to 18 hours. However, this rise was followed by a sharp pullback, as indicated by the closing red candle, bringing the price down to $0.04873.
The overall market sentiment appears mixed. While there was a recent bullish breakout, the final red candle indicates a potential profit-taking phase or the onset of a bearish correction. Given the low trading volume coupled with the sharp price fluctuations, TakiToken is currently in a volatile state, where short-term price changes may result in significant movements.
2. Krasnalcoin (KC)
Krasnalcoin is currently priced at $0.000204, with a market cap of $197,000 and a 24-hour trading volume of over $2,000. Over the past 24 hours, the token witnessed an impressive increase of 21.08%. The 24-hour chart begins with an opening price of $0.0002068 and closes slightly lower at $0.0002008, reflecting a decrease of 2.88%.
During this timeframe, the highest point reached was $0.0002046, while the lowest recorded price dipped to $0.0002004. Trading volume during this period is relatively low at 166, suggesting limited liquidity and trading activity. This low volume can make the market more susceptible to price volatility, as even small trades may lead to significant price movements.
Recent price action shows a sharp increase from below $0.0001700 to over $0.0002300 within a short span, representing a significant upward movement of over 35% before correcting downward. After reaching the peak, the price retreated to $0.0002008, marking a sharp pullback following the bullish run.
The sudden spike followed by a quick retracement indicates a volatile market characterized by short-lived bullish momentum. The strong green candlestick, followed by a decline, suggests that some traders or bots may have taken profits after the rally. The low volume accompanying these movements means that small trades can cause substantial price fluctuations, making it risky for larger orders in a low liquidity environment.
3. tSILVER (TXAG)
The current price of tSILVER is $0.893, with a market cap of $1.76 million and a circulating supply of 1.97 million TXAG coins out of a maximum of 2.09 million. The chart for the TXAG trading pair recently displayed notable movements within a 15-minute timeframe.
During this period, the price opened at $0.8899 and closed slightly higher at $0.8932, reflecting an increase of approximately 0.38%. The highest price reached was $0.8932, while the lowest recorded was $0.7000, indicating a sharp decline earlier in the session.
Trading volume was extremely low at just 17 units, suggesting minimal market activity or interest. Such low volume can often lead to increased volatility, where even small trades can significantly affect the price due to a thin order book.
The most striking feature of the chart was the sharp drop followed by an immediate recovery. A large red candlestick indicated a significant drop from around $0.8899 to near $0.7000, likely reflecting a major market event or a temporary crash caused by low liquidity. However, the price quickly bounced back with a large green candlestick, closing near its original value, demonstrating that the market absorbed the sell-off soon.
This rapid recovery suggests that traders may have viewed the asset as undervalued after the dip, leading to increased buying interest. The sudden price fluctuations highlight a moment of high volatility.
What Might Be The Next Top Trending Crypto?
Flockerz ($FLOCK) introduces an interesting approach to the meme coin market through its vote-to-earn system and decentralized governance model via Flocktopia, a decentralized autonomous organization (DAO). Launched recently, Flockerz has quickly gained attention, accumulating over $560,000 in its presale phase, marking it as a notable project in the space.
The core innovation behind Flockerz is its vote-to-earn mechanism, allowing $FLOCK holders, called “The Flock,” to participate in the decision-making process within the Flocktopia DAO. These DAOs operate on blockchain technology and give members the ability to propose, discuss, and vote on key decisions, creating a decentralized and community-driven platform. As an incentive, voters receive additional $FLOCK tokens, aligning community participation with the project’s goals.
Of the total supply of 12 billion $FLOCK tokens, 25% is allocated for staking rewards. The staking system offers an annual yield (APY) of 3261%, providing a potentially attractive option for long-term holders. Users can reduce the circulating supply by locking up their tokens, which may contribute to the project’s stability.
The Flockerz presale is LIVE and flying high! We’ve already raised over $500K, and we’re just getting started 🚀🐦 pic.twitter.com/X8XWG5TQe7
— Flockerz (@FlockerzToken) October 7, 2024
In terms of token distribution, 20% of the total supply (2.4 billion tokens) is designated for the ongoing presale. Investors can currently purchase $FLOCK at a price of $0.005724, which will gradually increase as the presale moves to the next tier. The presale model offers potential benefits for early adopters, providing opportunities for access at lower prices. Flockerz combines decentralized governance with vote-to-earn incentives, offering staking rewards and an engaging presale structure.
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