Top Crypto Gainers on August 14, 2023 – HBAR And RUNE

Due to its potential in payment settlements without intermediaries and diverse profit-making opportunities, the crypto industry has attracted more investors spanning individuals, corporations, and nations. 

The increased demand for digital assets has raised some crypto assets’ market values in the past months, weeks, and days. Today, August 14, some cryptocurrencies have shown top performances in the market, even amid the bearish sentiment that pushed the global market cap down a bit. 

HBAR, RUNE, and Wall Street Memes are the top-performing assets today. Let’s consider the forces propelling their successes.

Hedera (HBAR)

Hedera has witnessed an enormous price uptick today. Historical data from TradingView reveals that it reached a market value of $0.0653 at 08:14 EST. This is evident in its trading volume, up 1118% in the last 24 hours.

This market value marks an approximate 14% price change in the upward movement and signifies a 23% price gain in the past two weeks. Furthermore, its total value locked (TVL) is over 35.5 million, giving an impressive change of approximately 15% to its value yesterday.

Hedera is an open-sourced blockchain that allows developers to create fair and secure decentralized applications (dApps). It is carefully designed to innovate older blockchains, with improvements in blockchain efficiency and stability.

Technical Indicators on HBAR Price Movement

HBAR/USDT Daily Chart | Source: Tradingview

The HBAR price is currently positioned higher than the 200-Day and 50-Day simple moving averages (SMA), indicating positive price momentum in both the short and long term. Furthermore, the Moving Average Convergence Divergence (MACD) is above the signal line and accompanied by green histogram bars, indicating ongoing buying activity within the market.

The Relative Strength Index RSI of 68.90 suggests the price is approaching the overbought zone. A combination of the following indicators points towards a positive price trajectory for HBAR in the coming weeks.

It is important to note that a wide range of factors beyond technical indicators, including market news, macroeconomic trends, and geopolitical events, can influence asset prices. So traders should exercise caution while carrying out investment decisions.

THORChain (RUNE)

RUNE has had a significant price upsurge, with its value peaking at the $1.456 mark. The Total value-locked TVL of the Defi protocol has had a notable increase. The asset’s price is by over 61% since reaching its lowest point on July 31.

THORChain(RUNE) is a decentralized liquidity protocol enabling users to efficiently swap cryptocurrencies across various networks while retaining control of their assets throughout the exchange process. RUNE has a Total value locked of over $111.41m.

In the last 7 days, the price of RUNE is up by over 45% and up 46% in the last 14 days. At 9:32 am EST, the price of RUNE is down by a slight 0.4% with a 24-hour trading volume of over $176.2m.

THORChain (RUNE) is surpassing the global crypto market, which has risen by 0.70%, and is overtaking similar BNB Chain Ecosystem cryptos, which have increased by 1.00%.

RUNE Impressive Price Action

RUNE/USDT Daily Chart | Source: Tradingview

The price of RUNE is trading above the 200-Day and 50-Day simple moving average SMA, which indicates long and short-term bullish price momentum.

Also, the Moving Average Convergence Divergence MACD is trading above the signal line with green histogram bars, which denotes prevailing buying activity in the market.

The Relative Strength Index RSI of 85.68 signifies that the price of Rune has crossed the overbought zone, which could signal a possible trend reversal. The combination of the following indicators points towards a short and long-term bullish price outlook for RUNE. 

However, trades should exercise caution as the market is always prone to high volatility, which could cause a price retracement. Also, the RSI is past the overbought region of 70 and could trigger a trend reversal to the bearish side. 

Wall Street Memes (WSM)

Wall Street Memes ($WSM) triggered positive reactions among investors since it hit the $23 million milestone in the presale session. This achievement has raised investors’ hopes for a substantial return on investment. Many speculate that the token could emulate the success of the Pepe token ($PEPE).

It is a developing project created by a team with a track record of selling off their NFT collection in 2021, which yielded millions in less than 24 hours. The project is built on the Ethereum blockchain with a total supply of 2 billion units of $WSM.

This team’s success is another strong factor that could be why Wall Street Memes have garnered so much attention from the online investment community, evident in the amount it has raised thus far. The project founders aim to leverage the frenzy in the crypto community due to the recent success of the meme sector to create an avenue for crypto lovers to maximize profit.

Remarkably, the project’s website shares a record of more than 40 million monthly impressions and a community engagement of over 1 million. This shows a good sign for $WSM’s healthy visibility, which could positively impact its adoption and market value in the future.

Features and tokenomics

Wall Street Memes has developed a highly efficient tokenomics structure that establishes a strong, enduring foundation extending well beyond the initial presale excitement. Their strategic approach indicates a focus on long-term success and sustainability.

50% of the token supply will be available for marketing endeavors, creating awareness, attracting investors, and amplifying adoption. Effective marketing efforts can increase demand, trading activity, and potential price appreciation, bolstering the asset’s market presence and value.

A significant portion, specifically 20%, of the entire supply of $WSM tokens has been thoughtfully earmarked for ensuring liquidity on both decentralized exchanges (DEX) and centralized exchanges (CEX).

This clever maneuver guarantees seamless transaction processing and mitigates the issue of undesirable price slippage. 30% of the token’s total supply has been set aside as an incentive to reward active community members. 

This Allocation of 30% of tokens for community rewards and airdrops can boost engagement, widen adoption, and create positive sentiment, potentially influencing asset demand and price. This approach also signals long-term commitment and may reduce selling pressure, fostering stability and growth.

$WSM Presale Nears $25.9 Million Hard Cap

Wall Street Memes, the No. 1 crypto community meme, as the creators claimed, has experienced tremendous progress since its presale launched. Today, the asset has raised over $23.8 million will a selling price of $0.0334 for a single unit of $WSM.

Tweets by wallstmemes

Moreover, the information from the project’s websites shows that the next selling price will be  $0.0337, and the presale will end in less than five days.

Investors willing to increase portfolio assets can visit $WSM’s presale website, connect a crypto wallet, and use bank cards or cryptos like ETH, USDT, or BNB to swap $WSM. 

Conclusion 

The top crypto gainers have demonstrated impressive market performances, with appreciable increments in TVL, trading volume, market prices in the last 24 hours, and outstanding presale achievement.

Although these assets are currently performing amazingly, investors should apply caution as the crypto market is highly volatile. Factors like news on the blockchain or the project’s ecosystem, new updates within a blockchain, crypto regulation, or regulatory crackdowns could influence their market values in the future.