Top Crypto Gainers on 7 August – XDC, DASH, And ALGO

Despite the ongoing cycles of rallies and crashes within the crypto industry, the market’s volatility remains a constant factor. Within this dynamic landscape, certain cryptocurrencies experience gains while others exhibit fluctuations.

Notably, the value of Bitcoin sways the pricing of other assets within the market. The surge in Bitcoin’s value TODAY, coupled with the shifting sentiments of investors, could be the catalysts behind the substantial gains across numerous digital assets in the market today. Following these developments, we present the most prominent beneficiaries of today’s crypto market upswing.

XDC Network (XDC)

The integration of TradeTrust Digital Utility has solidified the collaboration between XDC Network and Singapore’s Infocomm Media Development Authority (IMDA).

XDC Network Has Partnered with the (@IMDAsg ) Infocomm Media Development Authority (IMDA) Singapore by Completing the Integration with TradeTrust Digital Utility.

The #TradeTrust framework connects governments and businesses to a public blockchain, tracing the source and…

— XinFin (@XinFin_Official) July 29, 2023

This strategic partnership enhances the capabilities of the TradeTrust framework, establishing a connection between public blockchain technology and governmental and business entities. This integration allows the origin and legitimacy of digitally issued documents to be traced and verified effectively.

Furthermore, XDC Network is embarking on a new XDC Trade Network initiative. This specialized entity will prioritize the interoperability of solutions related to the Multi-Lateral Electronic Trade Documents Registry (MLETR).

Its primary goal is to enhance the liquidity of trade document transactions developed within MLETR-compliant solutions. XDC Trade Network seeks to further bolster the trade industry’s digital landscape by offering increased liquidity and efficiency.

In the wake of these developments and news events, the XDC Network’s utility token, $XDC, is making waves in the market. Today as of 10:42 am EST, XDC has reached $0.06829 with a 10% price drop in the last 24 hours.

Nevertheless, considering the excitement of these recent developments, XDC is likely to make a bullish comeback before the week elapses.

XDC’s Bullish Momentum is Fading – What to Expect

Source: Tradingview.com

The red candle on the chart indicates a recent price decrease for XDC, driven by higher selling than buying. However, XDC’s price remains above the 50-Day and 200-Day SMA, implying a possible short-term downtrend but with an overall bullish bias.

XDC’s RSI has dropped significantly, signaling increased selling pressure and moving toward the oversold region (below 30). The chart shows XDC’s MACD above the signal line, showing faded green histogram bars. This suggests a weakening of bullish momentum, possibly indicating price consolidation.

Amidst this market situation, XDC is in a state of uncertainty. While a short-term downtrend is possible, the longer-term bullish bias from the moving averages persists. Traders and investors should be cautious, closely observing price movements and other technical indicators for well-informed decisions.

Dash (DASH)

Maya Protocol’s integration with Dash blockchain marks a ground-breaking moment in DeFi. Dash users can now engage in permissionless trading, unlocking new possibilities.

Maya empowers users to exchange assets across networks while retaining control. Dash, known for speed and privacy, gains seamless cross-chain exchange through Maya.

The price performance of DASH after this integration has raised questions if the surge is attributable to this recent update.As of 12:40 pm EST, DASH is trading at $32.06, up by 2.32% in the last 24 hours. Also, its 24-hour trading volume is up by 88.28% to $70.8 million.

The price analysis could hint at what to expect in the coming days.

DASH Upholds Bullish Today Despite Strong Bearish Momentum

Source: Tradingview.com

DASH trades below the 50-Day and 200-Day Simple Moving Average (SMA). This shows a bearish momentum in the coin’s market, potentially signaling a downward trend.

The RSI plunging from the neutral zone at 46.42 indicates strong selling pressure, which might lead to an oversold condition if it goes below 30.

Meanwhile, DASH’s MACD is above the signal line and has bold green histogram bars. This shows that the asset still has a bullish momentum that could uphold its price throughout the week, indicating a potential uptrend.

Considering the mixed market trends, this situation may indicate a potential for a short-term reversal from oversold conditions. However, it’s important to consider other factors like fundamental news and market sentiment before making any trading decisions.

yPredict (YPRED)

The token presale for the revolutionary web3 analytics and crypto trading platform, $YPRED, has raised over $3.3 million today from its $4.5 million benchmark.

🚀📊 Empowering traders with comprehensive market analysis and AI-driven insights for informed crypto investment strategies. Trade smart with yPredict's predictive modeling and custom execution options. #YPRED #CryptoAI #SmartTrading https://t.co/xO9suqHbwF

— yPredict.ai (@yPredict_ai) August 7, 2023

The price is $0.1 today and will increase by 11.11% to $0.11 in the next few days. Once it reaches $0.12 and completes its presale benchmark, $YPRED will hit exchanges, allowing more investors to key into the asset.

yPredict.ai is an AI-powered platform that provides predictive analytics for businesses of all sizes. It utilizes AI models to forecast the prices of various crypto assets and stocks across different timeframes.

Despite the wide number of AI domains and Web3 projects, yPredict ($YPRED) still stands out for its pioneering and ambitious offerings. Harnessing advanced AI, yPredict comes with an array of tools for crypto analytics, SEO solutions, and beyond.

yPredict introduces Alt_Pump_001, an AI model for altcoin insights. This tool empowers investors to spot altcoins with potential 100x+ surges. While a subscription costs over $1,000 monthly, presale buyers who spend over $500 in $YPRED can access the Alt_Pump_001 for free.

yPredict.ai has built predictive models for various assets, including Bitcoin. These models are based on time series modeling, specifically the ARIMA model. The platform uses powerful algorithms to generate accurate predictions and insights for traders and investors.

yPredict.ai offers a range of analytical tools and platforms designed to provide traders and investors with data-driven insights for their trading and investment decisions.

yPredict’s presale is still running, allowing users to participate in the platform’s ecosystem and benefit from its predictive analytics capabilities. Interested investors can quickly buy $YPRED using MATIC, ETH, Card, or other payment methods available in the presale widget.

Algorand (ALGO)

Algorand (ALGO) has increased today by 1.11%, trading at $0.1095 in the last 24 hours. Also, its trading volume is up by 95.14%, recording over $45 million within the same time frame.

This dramatic surge could be attributed to the success the platform has had recently. Algorand Foundation on Twitter confirmed the successful procession of its 31 millionth block on August 3. Also, on August 4, the foundation announced that 3000 POAFs got new homes within 48 hours.

📢The @Algorand blockchain just processed its 31 millionth block! 📢

✅ 4+ years live
✅ 7+ million assets
✅ 31+ million accounts
✅ 1.1+ billion transactions

All of that with zero downtime.

Start building on the world-class blockchain today 👇https://t.co/kyqgETU1mX pic.twitter.com/1jlQzl30LT

— Algorand Foundation 🐍 (@AlgoFoundation) August 2, 2023

Algorand also mentioned that more experiments will emerge to grow and engage the ecosystem.

AGLO Forms Three Consecutive Green Candles – Is an Uptrend Within Reach?

Source: Tradingview.com

In the chart above, a green candle forms below the SMAs, suggesting a potential short-term uptrend. Meanwhile, RSI is at 48.36, indicating increasing buying pressure and potential upward momentum.

According to the chart, ALGO’s MACD is above the signal line with bold green histogram bars. This indicates a strong bullish momentum, corresponding with the signal on the RSI.

Combining these indicators, Algorand (ALGO) is showing indications of short-term bullishness with the green candle and upward RSI. But bearish sentiment might still influence the trend due to the position below the SMAs.

Traders and investors should exercise caution and consider other factors, such as fundamental news and market sentiment, before making trading decisions.

Conclusion

Amid crypto market volatility, investors can make informed investment decisions. Early participation in presales offers significant advantages, with values often rising upon exchange listings. Seizing the opportunity to become an early investor paves the way for substantial long-term earnings.