Top Crypto Gainers on 16 June: STX, PEPE, ICP, IMX, OP, DEELANCE, ECOTERRA

The Crypto market is volatile and continues to evolve daily. However, some traders understand how to trade volatile markets for profit.

Bitcoin, the market leader, has recovered slightly today to return to $25,000. However, some altcoins are still shedding their gains in the last 24 hours.

This article provides insights on the top crypto gainers in the market today, and promising crypto presales investors can benefit from. Here are the top crypto gainers for June 16, their features, and notable price action in June 2023. 

Stacks (STX)

Stacks is a Bitcoin layer for smart contracts that enables the contracts and DApps to operate on Bitcoin’s blockchain. Stacks can read from the crypto network with its Proof of Transfer consensus and Clarity language. 

All transactions on the Stacks layer are hashed in an automated process and settled on Bitcoin’s Layer-1 (L1). It enjoys security from Bitcoin’s advanced blockchain. Stacks is a scalable layer that facilitates fast transactions settled on Bitcoin or crypto. 

Currently, STX, its native crypto token, is trading in the green today, June 16. It has gained over 9% on its price today at press time, building on its gains of 10.52% from yesterday’s closing price.

Notably, its trading volume is up by more than 80% today. STX moved from $0.5976 on June 1 to $0.6142. It remained in this range till the bears returned to deflate its price to $0.5444 on June 5. 

However, the bulls rallied again by June 7, moving the price to $0.6429 before another price drop back to $0.5 on June 10. STX declined further to $0.4882 on June 14 but reclaimed the $0.5395 price level on June 15.

Bears Attempting To Halt STX Rally 

STX is currently showing price volatility on the daily chart. Despite the price gains in the last two days, the bears are still active and attempting to force their price down again.

STX is trading below its 50-day and 200-day Simple Moving Averages (SMA), with bearish sentiment in the short and long term. However, it is close to breaking above its 200-day SMA, hinting at a long-term bullish recovery.

Notably, its Relative Strength Index (RSI) is 40.84, in the neutral zone. However, the indicator is moving sideways, representing the tussle between the bulls and the bears for control.

STX’s Moving Average Convergence/Divergence (MACD) is below its signal line, a bearish sentiment. However, the Histogram bars are fading, indicating a positive change. STX will likely continue on its rally if the bulls sustain its price. 

Pepe (PEPE)

Pepe is a meme coin project hosted on the Ethereum network launched as a tribute to the popular Pepe the Frog internet meme.

It achieved success in the meme coin niche when it rose to reward early investors massively. Between late April and May, PEPE, the memecoin, attained a market cap of $1.6 billion at some point.

Notably, Pepe employs a burning mechanism to create scarcity in its tokens and preserve value. Also, its rally kicked off the memecoin season in 2023, where many meme projects rallied spectacularly, outperforming established crypto projects.

PEPE is experiencing price volatility in June, trading at $0.000001222 on June 1. However, it fell to $0.0000009763 on June 5. On June 7, it increased to $0,000001055. June 10 saw it return to $0.0000008881, currently at $0.0000008867 at press time. 

PEPE is gaining over 3% in its price with a 3% increase in its trading volume in the last 24 hours. 

Traders Showing Hesitation Today

PEPE is in a sideways trend today despite its gains and has formed a red candle on the daily due to bearish pressure. The small candle size indicates low market activity for the asset today. It is currently in the lower region of the Donchian Channel (DC), a bearish sentiment for the token.

Also, its RSI value is 36.99, close to the oversold region of 30 and confirming the bearish trend. However, the RSI is moving sideways, confirming the current trend on the chart. 

PEPE’s MACD is below its signal line and showing negative values. It implies that the bears are active and restricting their price movement.

However, the Histogram bars are fading off and hint at a possible reversal at some point when the bulls mount enough pressure to begin an uptrend. 

Internet Computer (ICP)

Internet Computer is a blockchain that supports cryptographic innovations. It provides users with a World Computer system used to build almost any online system or service. 

Internet Computer supports end-to-end decentralization for its users. Also, it is a Web3 hub where users can interact and share vital information. Social Media can operate on this advanced blockchain that is fully decentralized and autonomous.

It aims to transfer its World Computer functionality to the public internet, where developers can build decentralized systems and services exclusively on the blockchain. It operates on a network of special devices called node machines built to meet various standards.

These nodes interconnect with the Internet Computer Protocol (ICP), which is the name of its utility token. It utilizes a Proof-of-Useful-Work mechanism.

The ICP tokens provide a source of cycles that are burnt for computational power. Also, it supports staking in the permissionless Network Nervous System DAO that governs the Internet Computer ecosystem. Also, it serves as a store of value for users to invest in decentralization sales powered by Web3. 

ICP traded at $4.6690 on June 1 and traded in this range till the bears forced it down to $3.6996. It is currently at the $3.9075 price level at press time, gaining less than 1% on its price in the last 24 hours.

ICP Meets Resistance At 23.6% Fib Level 

ICP has formed a red candle on the daily chart today as the bears seek to strip off their earlier gains. It currently faces resistance at the 23.6% Fibonacci Level ($4.147). A break above this level will launch ICP into an uptrend. However, the bearish pressure is still much on its price.

Its RSI value is 36.27, close to the oversold region of 30. However, the indicator is moving sideways, suggesting the possibility of a recovery if the bulls rally.

ICP’s MACD is below its signal line and showing negative values. However, the MACD is rising, and a crossover will indicate a return of the bulls. Notably, the Histogram bars are fading, also confirming a bullish sentiment ahead. 

Immutable (IMX)

Immutable is a layer-two scaling solution for NFTs on the Ethereum blockchain. It offers users instant trading and massive scalability with zero gas fees for minting.

Also, users can trade NFTs securely without compromising their data or exposing their assets to loss. The IMX token powers activities in the Immutable ecosystem. IMX is currently up over 2% in 24 hours.

IMX traded at $0.7463 on June 1, moving to $0,8041 on June 2. However, it returned to $0.7953 on June 3 and faced price volatility in the following days. It is currently at the $0.6068 price level at press time and gaining slightly. 

IMX Under Bearish Pressure

IMX is currently in a sideways trend forming a small red candle on the daily chart. This candle shows that the bears and bulls are almost evenly matched in the market today. IMX is below its 50-day and 200-day SMA, bearish sentiment in the short and long term for the asset.

IMX’s MACD is below its signal line and displays a negative value. It is a bearish sentiment and indicates that the bears are in control at the moment. However, the Histogram bars are fading off, creating hope for a future price recovery for IMX. 

Also, its RSI value is 37.83, close to the oversold region of 30. Notably, the RSI is moving sideways, hinting at a possible recovery for the asset.

Optimism (OP)

Optimism is a Layer-2 (L2) blockchain running on Ethereum. It helps to scale the Ethereum ecosystem with its optimistic rollups benefiting from the security of the blockchain.

It implies that transactions are recorded on Optimism but secured by Ethereum. Optimism is built on Simplicity, Pragmatism, Sustainability, and Optimism.

Transactions on this layer are remitted to Ethereum without direct proof of validity and can be challenged within seven days, after which they are considered final.

Since June 1, OP has remained at $1, with increments and fluctuations in between showing its volatility. It is currently trading at $1.0992 with a price increase of over 1% in 24 hours.

Optimism Must Break The $1.116 Resistance To Rally Again

OP is in a sideways trend today, struggling with the bulls at the 23.6% Fibonacci level ($1.116).  A break above this level will launch the asset into an uptrend. However, the bears are still active in the market today.

OP is trading below its 50-day and 200-day SMA, a bearish sentiment for the short and long term. It implies that its gains today might be temporary.

Notably, its RSI is at 29.86 in the oversold region below 30. It also confirms the bearish trend. However, the indicator is moving sideways, reflecting the current trend and hinting at a possible recovery.

DeeLance (DLANCE)

Deelance is a Web-3-based job marketplace that connects freelancers with employers securely using blockchain technology. The developers hope to change the outlook of freelance recruitment with cutting-edge features for their users. 

The project hinges on three vital concepts in its ecosystem: Innovative recruitment, the NFT marketplace, and The Metaverse revolution. DeeLance offers users data protection since its interactions use highly encrypted security measures anchored on the blockchain.

Also, it provides a trustworthy alternative to regular freelance sites and job boards that struggle with scammers and bot accounts.  Notably, some of these traditional sites are overcrowded and require users to go through hectic procedures in search of a job.

Additionally, it provides Escrow protection for secure payment solutions, a potential pain point for most freelancers. Some freelancers lose out on their payment after completing several tasks, which is very discouraging. 

Notably, the escrow protection ensures that payment is verified and disbursed when the job is complete. DeeLance also offers its users quick access to its responsive customer care channels.

Also, withdrawals are easy and fast as there are no specific thresholds. $DLANCE is the platform’s utility token for governance and purchases; it empowers its holders to participate actively within the ecosystem.  

Notably, the $DLANCE token is relevant in the NFT marketplace for various activities such as Metaverse land purchase and office leasing. DLANCE presales are ongoing and have exceeded the $1.3 million benchmark, a testament to massive interest from early investors.

Currently, 1 DLANCE token is worth $0.038 USD. However, it will increase to $0.057 USDT when it lists on exchanges, with the potential to go even higher based on market structure. DLANCE tokens are easy to acquire. A user can obtain them with ETH, BNB, or USDT before the presales are over. 

Ecoterra (ECOTERRA)

 Ecoterra embodies the save-the-environment message gaining popularity worldwide. It is a Recycle-to-Earn (R2E) initiative that will reward its users for engaging in recycling activities for rewards.

Pollution is cancer in the world today, causing death to plants and animals and hazards to humans. Waste management is a critical weapon in overcoming pollution with safe practices such as recycling and controlling the number of waste products. 

The platform plans to launch an app for monitoring recycling activities and distributing rewards to users based on the class of items recycled. 

Ecoterra also uses a Carbon offset where users can earn rewards as ECOTERRA tokens. These tokens empower a user to engage freely in activities within the ecosystem and are currently on presale. 

$ECOTERRA’s presale began on March 29, 2023, and will wrap up by June 29, 2023. These tokens are easy to acquire with USDT, ETH, or bank cards. Notably, $ECOTERRA is above the $5.2 million benchmark and approaching its goal of  $5.7 million.

It further highlights the importance of this project to investors and the environment. The last presale stage has investors in a frenzy to accumulate the tokens as FUD levels increase.

Currently, each token is worth $$0.00925however, Ecoterra will list at $0.01 and might exceed that price level shortly. Ecoterra’s environmental relevance cannot be overstated, and it remains the project for a green and healthy future. 

According to the roadmap, users will also earn rewards for participating in eco-friendly activities such as beach cleaning and tree planting.

Ecoterra hopes to reduce carbon emissions significantly and replace carbon fuels with renewable energy sources hence the Carbon offset program.