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The crypto market retraced slightly today, with the market cap at $1.21 Trillion, a 1.3% drop from its former level. Based on a news report that Binance.US came close to liquidation, this decline could be a product of rising FUD levels but could not arrive at a unanimous decision.
But, Binance CEO Changpeng Zhao debunked the rumor, describing it as an appalling and deliberate attempt to increase FUD levels.
The quality of research, validation, or even logical thinking in this "news" is appalling.
If it is a board vote, 1 vote holding out of 3 won't stop anything. The 2/3 wins.
If it is a shareholder vote, Brian S. is a CEO, not a VC or any other type investor.
It's just FUD. 4. pic.twitter.com/nhQHiIkiYs
— CZ 🔶 Binance (@cz_binance) August 2, 2023
In all these, the Fear and Greed Index is neutral today at 52, while the market continues in a bearish trend which is also reflected in Bitcoin’s price trading at $29,135 at 7:23 am EST. Nonetheless, Bitcoin retains a dominance of 46.82%, with a market cap of $567 billion.
Some altcoins record positive gains despite the retracement. Here are the top gainers with exciting developments in their ecosystem.
Curve DAO (CRV) – The Stablecoin Liquidity Provider
Curved DAO’s CRV token is trading at $0.58 with a 2.7% increase in its price. This price increase may be due to increased buying pressure as traders capitalize on the latest development to amass more CRV tokens.
On July 30, the liquidity protocol announced that some Vyper 0.2.15-based stable pools (alETH/msETH/pETH) were exploited due to a malfunctioning reentrancy lock. This development caused price volatility for the token.
A number of stablepools (alETH/msETH/pETH) using Vyper 0.2.15 have been exploited as a result of a malfunctioning reentrancy lock. We are assessing the situation and will update the community as things develop.
Other pools are safe. https://t.co/eWy2d3cDDj
— Curve Finance (@CurveFinance) July 30, 2023
The developers clarified in a newsletter that the hack was not about Curve but a weakness in the Vyper design. This reassurance is likely behind the slight resurgence of the token.
According to Delphi Digital Curve’s founder Michael Egorov has a $100 million loan backed by 427.5 million CRV tokens representing about 47% of the entire circulating supply.
However, to save the situation, he sold a lot of CRV tokens amounting to about $39.25 million through OTC for 15.8 million USD.
Also, Justin Sun, TRON’s founder, sent 2 million USD to assist Egorov. Curve Dao’s CEO then created a new liquidity pool to help handle the situation. Also, a dashboard was created for easy tracking on Curve’s Exploiter.
The slight rally on August 3 arises because some traders view this event as an opportunity to accumulate CRV tokens before the next rally.
CRV in A Sideway Trend
CRV is in a sideway trend on the daily chart as the bulls attempt to force a recovery from its slump this week. It found critical support at the $0.56 price level preventing further decline for the asset.
However, the bears at the $0.61 resistance level are intent on limiting their price gains, with CRV trading below its 50-day and 200-day Simple Moving Averages (SMA), expressing a bearish sentiment.
Also, the Relative Strength Index (RSI) value is 32.18, close to the oversold region 30, confirming that the bears are active in the market. However, the sellers are relenting as the RSI is moving sideways and will likely make a return to the upside in the long term.
CRV’s Moving Average Convergence/Divergence (MACD) is below its signal line, reaffirming the bearish trend. However, the Histogram is fading, signaling a possible trend reversal.
Expect a break to the upside for the token if CRV bulls rally above the $0.61 resistance. But overall, CRV’s short-term outlook is bearish.
Shibie (SHIBIE) – The New Dog-Theme Crypto
Shibie coin is an exciting new crypto project aiming to replicate the early success of the Shiba Inu dog-inspired meme tokens such as SHIB and DODGE.
It is a Shiba Inu – Barbie crossbreed that poses as the new queen of the crypto world, embodying the community-fun spirit of Shiba Inu with a touch of class and the attitude of Barbie. Barbie is a fashion icon doll with massive success on TV and merchandise.
Based on its community-focused approach, it provides users with tokens that will likely give them rewards while drawing on the popularity of the Shiba Inu-Barbie Hybrid.
The Developers launched SHIBIES’s ongoing presale during the 2023 meme coin season, hoping it will be a good replacement for Shiba Inu.
Shibie Exciting Framework
Shibie has a finite token supply capped at 10 billion $SHIBIE tokens; this gives the project value compared to some meme coin projects with trillions of tokens.
60% of its total supply (6 billion tokens) is for presales. The 40% left is for liquidity, CEX listing, marketing, and rewards for team members.
Also, SHBIE investors have purchased $78,620 worth of tokens out of its presale goal of $999,999 at this stage. 1 SHIBIE token is worth $0.000167, a great opportunity for investors to accumulate sufficient tokens.
The minimum purchase allowed is 100 tokens, a small price to join this wonderful ecosystem.
What Lies Ahead for Shibie?
After the presales, CEX listings are the next target, likely boosting the token’s trading volume due to massive exposure.
However, the success of this roadmap largely relies on strategic marketing across all social media channels to get more investors committed to the project.
Additionally, the developers plan to launch an AI-powered Shibie bot on Telegram to provide insights and fun replies in its fast-growing community.
Ai technology is one of the top trending niches in the world, another pointer that this platform is destined for success. Also, the global reach of Telegram will attract more users to interact with the community and adopt the vision.
Shibie coin already has nearly 300 Twitter followers a few days after launching, showing rising interest in the crypto community. The previous success of Dogecoin and Shiba Inu implies that Shibie will likely enjoy similar success.
To purchase these tokens, use a crypto wallet (MetaMask or Trust Wallet) connected to Ethereum’s network. Users can purchase the tokens by swapping them with ETH or USDT.
Hedera (HBAR)- The Framework for Exciting DApp Building
HBAR is trading at $0.053 with a 2.1% 24-hour increase in its price and a seven-day gain of 0.8%.
Blockchainmagazine.net listed the advantages Hedera offers its users with smart Contract 2.0. It ensures fair transaction distribution eliminating the need for block confirmation.
Also, it improves security with its Byzantine Fault Tolerance (BFT) mechanism and is eco-friendly with its carbon-negative operations. Smart contract 2.0 also enables customized programmability by combining the features of Hedera’s Token Service and its Consensus Service.
Users can execute extra functions such as minting, transfers, and token burns. This function positively impacts the Hedera ecosystem and HBAR’s price performance.
Also, the Hedera Council voted to change the fee for minting NFTs in its v0.41. The release will occur on August 22 on the testnet and September 12 on the main net and might be among the factors behind HBAR’s performance.
The HBAR Foundation announced on August 1 that Taiwan’s largest financial institution, Shinhan Bank completed an international remittance pilot program on Hedera. It confirmed Hedera’s reliability to EVM-based stablecoin issuers worldwide.
Hedera has sufficient activities in its ecosystem as the NEXO crypto exchange confirmed the listing of HBAR on its platform. Users can process instant purchases with rewards, zero-fee swaps, and credit lines. This new listing is likely one of the factors driving HBAR’s price gains.
Moreover, Hyundai Motor Group announced implementing of a “supplier CO2 emission monitoring system’ (SCEMS). This system successfully integrated with Hedera to preserve data integrity and transparency throughout their supply chains.
SCEMS will use suppliers to track and monitor carbon emission data. The ultimate goal is to tackle climate change issues by establishing a sustainable and trusted supply chain secured by the Hedera network.
Hyundai is one of the largest car manufacturers in the world, and Hedera’s integration is a progressive step toward the sustainability of eco-friendly solutions in the automobile sector. This collaboration will likely cause a spike in HBAR’s price due to its rising utility.
Also, Hedera announced the recruitment of a new Chief Open-Source Officer (COSO), Andrew Aitken, an experienced hand in Domain, tooling, cross-chain functionality, and source code.
This addition confirms Hedera’s commitment to promoting community collaboration, trust, and transparency within its ecosystem.
Bears Losing Control
HBAR posted notable gains, forming a green candle on the daily chart with higher highs. Despite its current gains, it still trades in the lower region of the Donchian Channel (DC), a sign that the bears are still active in the market. However, the formation of a consecutive green candle today signals a likely recovery ahead.
Despite the return of the bulls, the bears at the $0.054 resistance level are intent on limiting their price gains. However, the $0.051 price level support is acting as a pivot for further gains.
The RSI displays a value of 55.19 and rises from the neutral zone to the overbought region of 70, confirming the early stages of a bullish trend.
Although the MACD is below its signal line, expressing a bearish sentiment, the red Histogram bars are fading, hinting at a short-term recovery for the asset. HBAR will likely rally if the bulls sustain their charge in the coming days.
XRP20 (XRP20)
XRP20 is a new and exciting crypto project offering investors who might have missed out on the original XRP rally a chance. It is an ERC-20-compliant token unique and not affiliated with Ripple Labs XRP cryptocurrency.
Previously, the crypto investment scene was dominated by tech gurus and developers. Now a new generation of investors is seeking a simple project that will earn them rewards.
XRP20 bridges this knowledge gap, driven by a community-first approach to reward its investors. XRP20 draws inspiration from the XRP Army’s relentless backing of XRP through the hurdles over the years and aims to raise their ecosystem of supporters.
Also, the developers hope to build a decentralized ecosystem with a user-friendly interface that makes it easy for novices to invest in cryptocurrency.
Stake and Burn Mechanism Essential Tools for Increased Value
XRP20 is a deflationary token with 0.1% of every buy or sell transaction burnt, reducing the total supply over time. Also, 10% of the total token supply will be destroyed by transferring them to a designated burn address.
40%of the total supply is dedicated to the presale, 40% for staking, and 10% for supplying Decentralized Exchange (DEX) liquidity.
Staking gives XRP20 holders additional opportunities to earn a passive income within its ecosystem, thereby boosting its utility and value. Also, no tokens are reserved for founders or team members, making it a non-discriminatory investment opportunity.
Ongoing XRP20 Presale
🚀Welcome to $XRP's evolution – $XRP20!
🔥We're stoking the embers of the #XRPArmy with a fresh ERC-20 #Token, offering #Staking utility like never before.
Missed $XRP at $0.0028? With #XRP20, you're buying in at 30x CHEAPER!
🎯#Presale is live – https://t.co/lNFEKmMpBs pic.twitter.com/mTl4T6LCCe
— XRP20 (@XRP20_coin) August 2, 2023
XRP20 is on presale, with each token worth $0.000092, offering investors the best opportunity to get in early and maximize profit. It aims to attain a minimum of $1.85 million soft cap from its presale, and it has raised over $260,000 a few days after the presale began.
Users can purchase these tokens with ETH or USDT connecting their crypto wallets. Also, the project enjoys growing social acceptance, with over 400 followers on its Twitter page and a thriving Telegram Channel.
Dash (DASH) – The Fast and Affordable System for Global Payments
DASH is trading at $31.93 with a 0.5% drop in its price, representing increased volatility. DASH announced its partnership with Spritz Finance on August 3, connecting thousands of TradFi accounts to pay bills.
These payments include credit card bills to rent, utilities, and car payments using the DASH token on the platform. It will likely boost the token’s value.
Also, Dash’s new database GroveDB is its first hierarchical authenticated data structure created to supplement the RocksDB database on its platform.
The Dash Core Group (DCG) created GroveDB for its features, such as its comprehensive querying abilities and trustless queries enabled by cryptographic proof.
Also, it is efficient both in size and time. The cryptographic proofs ensure data accuracy, making it a vital part of the ecosystem. These positive developments will likely boost the price of DASH in the coming days.
DASH Stuck in A Sideways Trend
DASH is in a sideways trend; despite the positive price action, its small green candles on the daily chart show limited trading activity.
The bears at the $32.65 resistance level are intent on limiting further gains for the asset. However, DASH has found support at the $31.29 price level as it seeks to build on its gains. It trades below its 50-day and 200-day SMA, showing a bearish signal for the long term.
However, in the short term, the RSI value is 43.73 in the neutral zone and moving sideways, confirming the prevalent trend. It implies that the bulls and bears are evenly matched, with low trading volume.
The MACD shows convergence with its signal line seeking a break to the upside. The Histogram bars are green but also reflect the limited activity in the market. DASH will likely continue in the sideways trend until the bulls rally beyond the $32.65 resistance level.
yPredict (YPRED)
yPredict is an AI-powered platform that provides traders with useful trading insights helping them to trade and maximize profit. The ecosystem is built to give traders and investors an edge in the fast-paced crypto market.
yPredict levels the playing field breaking whale monopoly and institutional control over the crypto market. With several crypto projects springing up, the right knowledge on which project to invest in is essential, and AI safeguards users from rug pulls and low liquidity projects.
YPRED is the utility token powering that grants users access to all the exciting benefits in the ecosystem. Users who hold YPRED tokens gain access to the exciting features of this platform.
One of its benefits is it provides signals with high accuracy, helping to reduce the margin of losses. yPredict is the perfect platform for beginners who need proper trading knowledge. While these signals are not 100% accurate, they help a trader get a higher percentage of winning trades.
Also, it creates an avenue for passive income for developers. They can trade their predictive models in the marketplace to users who need to be more conversant with trades.
However, ypredict accepts only models from the top 1% of AI worldwide to maintain high quality. Additionally, they offer sentimental analysis to users to avoid crypto scams and low-liquidity projects.
Users can access insights on the best indicators for trading each token to boost their profit. Also, its AI recognizes more than 25 unique chart patterns for different cryptocurrencies.
Data graphs are also available, providing users with statistical information to improve their trades. Passive income is not limited to developers alone, as staking is available to all YPRED token users.
🌟🚀Unveiling yPredict (YPRED) – the ultimate AI-powered platform! 🤖📊
📈 Market sentiment analysis
📉 Chart pattern recognition
📈 Advanced technical indicators
📢 AI-driven buy/sell signalsThat's not all! 💼🔗 An AI-backed backlink estimator for SEO pros & Alt_Pump_001,… pic.twitter.com/FdGDyMWYvV
— yPredict.ai (@yPredict_ai) July 26, 2023
Staking helps to control inflation and the circulating supply of a token; this will help the token’s value in the long term. YPredict is also invested in trader development with its Learn-to-Earn (L2E) model for users to gain valuable information about trading and receive YPRED tokens for completing learning modules.
The backlink estimator and keyword tool provide deep analytics to users. These tools increase a user’s backlink count and give them ideas and stats from other traders.
YPRED Presale Inches Closer to Its Hard Cap
YPRED’s presale is in stage 7; each token is worth $0.1. The presale is above the $3.3 million milestone out of the $4.58 million target, and the next price increase will move its price to $0.11, rewarding stage 1 investors with 11.11% paper gains. Its listing price is $0.12, with over 20,000 users on the waitlist. YPRED supports purchase with ETH, MATIC, USDT, BNB, or bank cards.
Cowabunga (COWABUNGA)
Cowabunga Coin is a new meme-inspired crypto project by the successful Teenage Mutant Ninja Turtles (TMNT) series. It believes strongly in community spirit to achieve the success enjoyed by the TMNT based on its exciting roadmap and tokenomics.
The TMNT franchise was a massive TV hit with merchandise, toys, and viral followership worldwide. The Ninja Turtles is set to take the crypto world by storm with their stealth and tactics.
Has your friend already seen the future #king of #memecoins – $COWABUNGA?
If not, hurry up and show him! pic.twitter.com/DjxNZCAYSc
— $COWABUNGA Coin | Presale Live Now! (@CowabungaCoin) August 3, 2023
The meme coin rally is still ongoing, with Cowabunga the latest beneficiary of the rising interest in the community. The development team focuses on massive expansion with its social media presence, pm Twitter and Telegram, a step in the right direction to achieve this goal.
TMNT Driving Cowabunga’s Success
Cowabunga Coin’s token distribution relies on the expertise of the TMNT characters. Each turtle controls a sector of the project, sharing in the distribution of the total supply of 4 billion tokens.
The group leader Leonardo handles presales with 1.2 billion tokens reserved for the exercise.
Donatello handles transactions within the ecosystem with 800 million tokens reserved for future liquidity. These tokens will boost trading activities within the ecosystem.
Also, Michelangelo represents the fun and community spirit of the token with 1 billion tokens for community rewards and airdrops. These tokens will increase joy and all-around happiness while encouraging massive adoption in the crypto community.
Raphael holds the ecosystems defense reflected by the 600 million tokens reserved for centralized exchange listing. Casey Jones is the last character in the ecosystem showing the value of friendship and the importance of allies, with 400 million tokens saved for key partnerships with top brands.
Cowabunga Coin plans to make vital partnerships to expand its scope and push worldwide expansion. $COWABUNGA, the utility token, is on presale, presenting investors with the best opportunity for profit.
Presales and Ecosystem Goals
COWABUNGA token is worth $0.000357, and users can purchase at least 100. The presale aims to raise $500,000 from early investors, an achievable target due to the rising interest.
Based on its exciting roadmap, the next phase will increase the coin’s trading volume and drive the community to success.
Conclusion
The top gainers benefit from investors’ trade sentiments and positive activities within their ecosystem. Despite the retracement of Bitcoin and the crypto market, an active community can still boost the chances of success for a cryptocurrency.
Also, some exciting presales offer investors a chance to join crypto projects before a sudden price spike. The initial investors in Bitcoin, Ethereum, and other early projects earned massive rewards, and these presales hope to replicate their successes.
However, the crypto market is volatile, and there are no certainties. Also, any form of investment or trading carries a certain measure of risk. The best approach is to conduct proper research and only invest what you can afford to lose.
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