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Lending rates on Bitfinex have seen a sharp rise, with several orders today reaching an impressive 30% APR (annual percentage rate). This surge in interest rates, especially for USD loans, is being interpreted by many in the crypto community as a bullish indicator.
Additionally, data from the blockchain analytics platform Santiment shows a significant uptick in whale activity across various altcoins over the past week. As such, tokens on several blockchains have posted rallies. This article curates the top trending cryptos on Solana Chain today.
Most Trending Cryptocurrencies on Polygon
The current price of Fuse Token (FUSE) is $0.029, with a market capitalization of $61,670. Meanwhile, Super Useless Token (SUT) is valued at $0.0707 and has a market cap of $2.23 million, alongside a 24-hour trading volume of $68,300. The price of dHedge DAO Token (DHT) stands at $0.0916, with a market capitalization of $309,040.
FreeDum Fighters (DUM), a recent addition to the PolitiFi sector, brings a satirical and gamified perspective on the U.S. Presidential election. Additionally, Circle, a crypto company, anticipates that the UK will introduce regulations for stablecoins within the coming months.
1. Fuse Token (FUSE)
Fuse Token (FUSE) is currently priced at $0.029 with a market capitalization of $61.67K. Over the past 24 hours, trading volume has been $93.97, reflecting a modest 9.96% increase. The total circulating supply of FUSE stands at 2.14 million tokens, which is also its maximum supply.
Looking at the price action on October 23, 2024, the day started with a sharp upward movement around 8:00 AM. The token briefly surged to $0.02941 before quickly dropping back to $0.02909. This rapid spike, followed by a swift decline, indicates a lack of sustained buying pressure. While the high price reached $0.02941, it was not maintained, and the price quickly retraced.
After this movement, the price stabilized around $0.02909, showing limited fluctuation and a return to low trading activity. The trading volume was also notably low during this period, with only 12 units exchanged, reinforcing the view that the price change occurred in a low liquidity environment.
🏦 Introducing @ChargeWeb3 – the first Web3 merchant bank.
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— Fuse Network (@Fuse_network) October 9, 2024
The sharp spike, followed by an immediate reversal, is common in low-volume markets. It suggests that a few large trades or potential whale activity could have temporarily moved the market. However, the lack of sustained interest from other traders led to a quick price correction.
In conclusion, the overall sentiment appears neutral to slightly bearish. The price movement, combined with low volume and weak follow-up buying, indicates that there is limited market momentum at this time. Buyers seem hesitant to sustain higher prices.
2. Super Useless Token (SUT)
Super Useless Token (SUT) is priced at $0.0707, with a market cap of $2.23 million and a 24-hour trading volume of $68.3K. Over the past 24 hours, the token has seen a 24.66% increase in value. Currently, the circulating supply stands at 31 million SUT out of a maximum of 31 million tokens available.
In terms of price action, the chart begins with limited activity early in the day, likely due to low trading volume or market interest. This period of inactivity is followed by a sharp spike between 10:00 and 10:15, where the price rose quickly from $0.07060 to a peak of $0.07220. However, this surge was short-lived, as the price rapidly dropped back to $0.07067. This pattern suggests a flash pump, where an initial wave of buying is followed by immediate selling pressure, causing the price to fall just as swiftly.
After the spike, the price retraced to its earlier level and stabilized around $0.07067, reflecting a lack of momentum to maintain the upward move. Trading volume remained low throughout, with only a small increase during the spike, which points to a market with limited liquidity.
The sharp movements and quick retracement indicate that volatility is driven by illiquidity, where even small trades can have an outsized impact. This could also suggest possible whale activity or market manipulation, as is often seen in low-volume tokens where a few large players dominate the trading.
3. dHedge DAO Token (PoS) (DHT)
dHedge DAO Token (DHT) is currently priced at $0.0916, with a market cap of $309,040. Over the past 24 hours, it has seen a significant price increase of 23.83%, with a trading volume of 8,130 and a circulating supply of 3.40 million tokens out of the maximum available supply.
An analysis of the DHT/USD trading pair on the 15-minute chart shows a price increase of 2.23%, bringing the price to $0.09167. This price movement took place between 18:00 and 05:00, with a notable surge in volume, peaking at 799 units. The most significant price action occurred between 02:00 and 03:00, suggesting strong buying pressure during this period. The chart indicates a breakout pattern with minimal resistance, allowing the price to rise sharply.
Volume analysis also shows increased trading activity, particularly during the price surge. The highest volume bars align with the strongest price movements, indicating potential institutional or large buyer involvement. This is supported by the concentrated volume during the upward movement, which points to genuine buying interest.
dHEDGE now 5th by TVL on @Optimism pic.twitter.com/6T3pxn2lP6
— dHEDGE (@dHedgeOrg) October 22, 2024
The lack of significant retracement following the initial price rise suggests strong holder conviction. Additionally, the timing of the price increase, which occurred during Asian trading hours, could indicate regional interest in the token.
What Might Be The Next Top Trending Crypto?
FreeDum Fighters (DUM) is a new entrant in the PolitiFi sector, offering a satirical, gamified take on the U.S. Presidential race. Launched recently, this low-cap token allows holders to support fictionalized political champions—Magatron and Kamacop 9000—while earning rewards. The project combines elements of satire, staking, and community engagement, attracting attention as the 2024 U.S. election nears.
Unlike other politically-themed tokens like MAGA or TREMP, which are often partisan and tend to alienate some investors, FreeDum Fighters aims for a broader appeal. It presents an exaggerated battle between two mechanized political figures, Magatron, a MAGA-inspired warrior, and Kamacop 9000, a social justice advocate. Investors can choose sides and earn rewards, making it an interactive and playful approach to politics.
FreeDum Fighters is simple.
MAGATRON 🆚 Kamacop 9000
1⃣ You buy $DUM
2⃣ You choose your candidate
3⃣ Vote for your candidate by staking $DUM
4⃣ Wait for debates to begin pic.twitter.com/hK2O0pnLAf— FreeDum Fighters (@Freedum_Fighter) October 22, 2024
The token’s presale, which started last week, has already raised over $244,000, with over 4.8 billion tokens sold. The ICO price for $DUM tokens is currently $0.00005, with four stages of presale planned, during which the price will increase gradually. The presale is accessible, with a minimum investment of $5, and supports various cryptocurrencies like ETH, BNB, and USDT. After the presale, the token will be listed on decentralized exchanges (DEX), with a portion of the supply allocated for liquidity and staking rewards.
One of FreeDum Fighters’ key features is its staking protocol. Investors can stake their tokens in one of two pools—either backing Magatron or Kamacop—and earn passive income.
Visit FreeDum Fighters Presale
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