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The news of ETH ETF approval is currently making rounds, but the market has witnessed little to no price action. The BTC ETF approval gave birth to the current bull run. Likewise, many traders and investors have anticipated a similar trend for the ETH ETF. Contrary to widespread expectations, we’ve seen a consolidation trend rather than a rally.
Despite the announcement, BTC recorded a price dump of over 5%, and a handful of coins switched to a sideways trend. The overall market outlook has remained neutral, even after a significant SEC move. Nevertheless, The top trending cryptocurrencies on the Avalanche chain, for example, have shown resilience in the face of the consolidating market. The article reveals the detailed price action of these tokens.
Trending Cryptocurrency Tokens on Avalanche Chain
Also, diversification is one of the ways to bulletproof a crypto investment portfolio in the heat of price uncertainties in the market. Hence, it’s essential to explore offerings by new crypto projects, particularly quality presale offerings. Below is a summary of the Sealana presale. A few days ago, the project started the presale offering of its native cryptocurrency, SEAL. Today’s post shares everything investors should know about the project and the overview of its presale.
1. GMX (GMX)
GMX is making waves as a decentralized spot and perpetual exchange that offers low swap fees and zero-price impact trades. This platform supports a unique multi-asset pool, which earns liquidity providers fees from market making, swap fees, and leverage trading. Moreover, the GMX token is the platform’s utility and governance token, unlocking various benefits for holders.
GMX is currently priced at $30.53 and has a 24-hour trading volume of $45,268,809.92. Despite a 1.89% decline in the last 24 hours, the token has seen a 2.00% increase over the past seven days.
With a circulating supply of 9.5 million GMX tokens, the market cap stands at $289,787,634. Over the past week, GMX has increased by 1.90%. However, this growth is slightly below the global cryptocurrency market, up 3.60%, and similar Avalanche ecosystem cryptocurrencies, up 5.80%.
Furthermore, GMX is actively traded on 39 cryptocurrency exchanges, including major platforms like Binance and KuCoin. In the last 24 hours, $57.73 million worth of GMX changed hands, with a recent trading volume of $45,196,899. This represents a significant 69.10% increase from the previous day, indicating a rise in market activity.
Dear community members, two important Governance proposals are live on Snapshot. These votes concern:
– Updating the Maximum Leverage parameters on GMX
– Establishing pools and markets for the GMX token on GMX V2Please vote now: https://t.co/zxJcCyKh8S pic.twitter.com/AmnLIyHT7H
— GMX 🫐 (@GMX_IO) May 21, 2024
Historically, GMX had its best year in 2022, when the price increased by 92.83%, from $21.57 to $41.59. In contrast, the worst year for GMX was 2023, with a price increase of 32.72%, from $41.59 to $55.20.
Furthermore, GMX’s consistent performance and increasing market activity make it a token to watch. With its robust platform and unique benefits for liquidity providers, GMX is positioned for continued growth in the decentralized finance space.
2. Xana (XETA)
XANA is rapidly gaining attention as a blockchain platform designed for the Metaverse. As a layer two solution on the Ethereum network, XANA utilizes the Ethereum Virtual Machine (EVM) for compatibility and flexibility. This enhances scalability and efficiency, making it ideal for immersive virtual environments where users can create, experience, and monetize content.
One of XANA’s standout features is its AI-driven capabilities, which are crucial in fostering a Web3 Metaverse. This innovation has attracted major institutions and global brands, highlighting the platform’s robustness and potential as a foundational technology for the expanding Metaverse sector.
In addition, the XANA token (XETA) plays a multifaceted role within its ecosystem. It acts as a medium of exchange, facilitating transactions for services, goods, and access to exclusive digital spaces. This versatility underscores its foundational role in the economic dynamics of the Metaverse.
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📣 XANA: Genesis has been chosen as the mascot for Toyota Home Aichi! 🚀@th_aichi_jpToyota Home is the housing division of the global automotive giant, the Toyota Group☝
"Irene" will come back as an AI avatar on Saturday, May 25th!✨
Stay tuned! 💕#XANA $XETA pic.twitter.com/l329dpd8du
— XANA (@XANAMetaverse) May 23, 2024
Currently, XETA is priced at $0.008463, with a 24-hour trading volume of $1,480,248.58. Over the past 24 hours, the price has increased by 6.91%, and it has seen a 9.06% increase over the past seven days. With a circulating supply of 2.4 billion XETA, the token has a market cap of $20,557,880.
In the last seven days, XANA’s price has risen by 9.70%, outperforming the global cryptocurrency market by up 3.40%. However, it underperformed compared to similar Ethereum Ecosystem cryptocurrencies, which have increased by 12.70%.
3. Magic Internet Money (MIM)
Magic Internet Money (MIM) is a USD-pegged stablecoin from Abracadabra. Money is gaining traction in cryptocurrency. Abracadabra. Money is a lending platform that leverages interest-bearing tokens (ibTKNs) as collateral to borrow MIM.
As of today, MIM is trading at $0.978913, with a 24-hour trading volume of $141,408. The stablecoin’s market cap stands at $89.05 million. Over the past 24 hours, MIM’s price has increased by 2.01%.
MIM reached its all-time high of $1.50855 on May 21, 2024; its all-time low was recorded on March 10, 2024, at $0.74739. The lowest price since its peak was $0.902638, while the highest price since this cycle low was $0.981617.
With a circulating supply of 90.97 million MIM, the stablecoin ranks #25 in the Meme Coins sector. Meanwhile, MIM trades above its 200-day simple moving average, indicating a positive long-term trend. Additionally, MIM has experienced 16 green days in the last 30 days, accounting for 53% of this period, and is trading near its cycle high.
In memes, invest in narratives that have staying power.
Like Magic Internet Money, on Solana. Timeless magic. pic.twitter.com/EziOttnsHW
— Magic Internet Money (@MIMoneySol) May 24, 2024
Magic Internet Money stands out for its innovative use of collateral and its robust performance. MIM is a stablecoin with significant potential, trading above its 200-day moving average and showing consistent growth. As more users and institutions recognize its value, MIM is poised to strengthen its position in the market.
What Might Be The Next Top Trending Crypto
to get the best out of the current market condition, investors have to broaden the scope of their portfolio. Funds moving across the crypto market are doing so at top speed as investors seek to capitalize on emerging opportunities in the market. One of such opportunities is the SEAL presale offering. The token is the native cryptocurrency of the Sealana meme coin project. The project was launched to tap into the community spirit of the crypto market.
#Sealana and his $SEAL comrades have been tearing up Vegas like a tornado in a trailer park! 🌪️After nursing a nasty hangover, he hit the jackpot and has been living it up ever since! 💰🎰 Even rented a Lambo for clout like every #Crypto degen! 🏎️
Join the #Presale now and help… pic.twitter.com/XzJWO9L7HJ— Sealana (@Sealana_Token) May 22, 2024
At the time of writing, Sealana boasts thousands of followers on twitter and other social media outlets. It also features enticing fundamentals that prioritize the interests of the community and SEAL holders.
Even Though the project is primarily in the meme coin category, the bond in the community fortifies the chance of mutual wealth creation. The project is built on the Solana chain, which accounts for its name. It also leverages the growing popularity of the Solana ecosystem, particularly its status as the hub for meme coin and new crypto projects.
Investors still have the chance to own the SEAL token at a discounted price as the token’s presale is still ongoing. It costs $0.022 to purchase the SEAL token, and there’s no limit to the amount investors can hold. Additionally, Sealana provides staking opportunities to SEAL holders even before the listing date. With that, investors can benefit from the presale offering while waiting for the listing date.
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