The crypto market’s early surge in 2024 has suffered a retracement after Bitcoin dropped to $ 42,271 today. So, BTC has lost 7.3% of its gains in the last 24 hours. As such, the market also suffered as the global crypto market cap fell by 7.82%.
This dip is not likely due to any extremely bearish activity but confirms that the crypto market is still highly volatile.
However, despite the price slump, some altcoins have still recorded massive gains in the past 24 hours. These altcoins rely on exciting developments and a vibrant community to achieve impressive gains. More vital facts about the top gainers are captured below.
Maker (MKR) – The Governance and Finance Protocol
MKR trading price at 10:03 a.m. EST is $1,771, with an 8.0% increase in the past 24 hours. Also, it recorded gains of 19.3% in the last seven days as the buyers continued to uphold its price.
Despite a slight price decline, the Maker DAO continues to record impressive milestones in the last few weeks, boosting its value.
One of the factors supporting this rise is the Chronicle Protocol, which has been developed for over two years and accepted by the wider crypto community.
In September 2023, we unveiled Chronicle Protocol, making it available outside of @MakerDAO for the first time.
The engineering team, which… pic.twitter.com/S7QXET750T
— Angus Tookey | Chronicle 📖| Powering MakerDAO (@AngusTookey) December 24, 2023
Also, CoinMarketCap reported that MKR has been bullish since June 2023, gaining up to 300% on its value. However, on the daily chart, it faces resistance as buyers begin to take profit.
MKR Facing Resistance At $1839.73 What Next For The Token?
MKR has formed a red candle on the daily chart, and the long lower wick suggests that the sellers attempted to drop the asset’s price further. However, the $1777.41 support level has sustained MKR from further decline.
Despite the bullish engulfing pattern formed on January 2, MKR faces rejection at the $1839.73 resistance level, leading to a further decline in the asset. Notably, the RSI displays a value of 72.43 in the overbought region above 70.
However, the indicator is retracing and will likely return to the neutral zone below 70 if the sellers prevail.
Also, the Moving Average Convergence/Divergence (MACD) shows a weakening buy signal, confirmed by the fading green Histogram bars. Therefore, MKR will likely decline if it closes below the $1777.41 support level today.
Internet Computer (ICP) – The Blockchain for Web-based Services
ICP trades at $14.09, with an increase of 7.5%. It has gained 55.7% in the last seven days as buyers continue to dominate its price. The Internet Computer ecosystem recorded massive growth in 2203 and will continue to grow in 2024.
It’s been a year of progress, and we’re grateful for the support of our incredible community
Embark on the next chapter👇https://t.co/QqTRD9GO5U 🚀
— DFINITY (@dfinity) December 29, 2023
One of the most significant innovations in the ecosystem is the trustless multi-chain built on ICP. It offers users security, safety, and a more convenient experience.
Also, listing new assets on the multi-chain has drawn more investors to the ecosystem, boosting its overall value. ICP faces resistance on the daily chart but will likely break through in the coming days if the buyers refuse to relent.
ICP Forms Bearish Doji Will The Decline Continue?
ICP has formed a long-leg Doji on the daily chart as the sellers attempt to limit its price gains from January 2. It found vital support at $13.37 but faces stiff resistance at $13.97 as it tries to rise to $14.
However, ICP is trading above the Parabolic SAR indicator, a bullish signal indicating further price increase.
Also, the RSI indicator is in the overbought region with a value of 78.9 and moving sideways. This implies that the asset’s price can go either way. Therefore, investors must watch out for the close of today’s candle and a possible retracement of the RSI indicator to know its next price moves.
Blur (BLUR) – The Privacy-Focused Peer-to-Peer Network
BLUR’s price at 10:07 a.m. EST is $0.52, with a 1.75 increase in the last 24 hours. Also, it recorded slight gains in the previous seven days as the sellers attempted to limit its price.
BLUR continues to claim higher highs in the new year despite the resistance faced by sellers. One of the factors driving its price gains is its dominance in the NFT market from December 2023.
Blur dominates almost 80% of NFT trading volume as market activity spikes https://t.co/L3mBo0dVYA
— The Block (@TheBlock__) December 4, 2023
Remarkably, Blur dominated almost 80% of NFT trading volume late in December 2023. Also, nearly $70 million in transactions were conducted on the Blur NFT marketplace within this period.
Based on its price performance early in 2024, it is safe to say that the buyers are still active and supporting its price gains. BLUR has also formed a green candle on the daily chart today.
BLUR is attempting to overcome the $0.51 resistance level. Will the buyers prevail?
BLUR has formed three consecutive green candles on the daily chart as the buyers attempt to sustain its rally. After finding support at $0.48, it encountered resistance at the $0.51 price level.
However, today’s candle’s long upper and lower wick suggests that the buyers and sellers are evenly matched for the token.
Also, BLUR is trading close to the upper region of the Donchian Channel (DC), a bullish sentiment that hints at a price increase in the coming days. Additionally, the RSI indicator displays a value of 52.95, rising to the overbought region close to 70.
If the RSI rises above 60, BLUR will likely break above the $0.51 resistance level in the coming days.
Bitcoin Minetrix – Hassle-Free Bitcoin Mining for Long-Term
As a top crypto gainer today, January 3, 2024, Bitcoin Minetrix boasts over $7.3 million raised out of its $7.9 million target in the presale widget. Considering these values, the presale is selling rapidly and could wrap up in the next two days.
🎉 Happy New Year, #BTCMTX Communtity! 🚀
Surpassing $7,200,000 is a stellar way to start 2024.
— Bitcoinminetrix (@bitcoinminetrix) January 2, 2024
Bitcoin Minetrix’s project is powered by a native token, which is $BTCMTX, and its price is currently at $0.0126. So, if you’re interested in this top-performing project, join the presale before it ends.
Apart from massive buying activities, there are many variables attracting investors and traders alike to this project.
First, Bitcoin Minetrix poses as a decentralized cloud mining solution. As such, it presents a dependable cloud mining podium for daily cryptocurrency users. It aims to address the challenges of lofty hardware costs and misleading scams that hinder people from Bitcoin mining.
With Bitcoin Minetrix, users can easily stake their native tokens ($BTCMTX) to avail of cloud mining rewards. Given this decentralized strategy, the interests of users are safeguarded.
Thus, there is a guarantee for a transparent and secure mining experience.
BTCMTX Nears the $7.9 Million Target – Could It Reach $1 After Launching on Exchanges?
As evident on the presale widget, the token has raised over $7.3 million, close to the $7.9 million presale target. This shows that many investors and traders are interested in this project and its token.
As such, it could make impressive gains when it lists on exchanges.
Some variables that could make this possible are the project’s use cases and solutions in the crypto space. Bitcoin Minetrix comes with a Stake-to-Mine Bitcoin mining model.
This model allows users to buy and stake $BTCMTX using their Ethereum-compatible wallet like MetaMask.
In return, the users receive non-tradable ERC-20 coins that undergo the burning mechanism to sustain the power of the BTC cloud mining. So, considering the high interest of traders and investors and the revolutionary solutions provided by the project, BTCMTX could make massive gains when it hits exchanges.
Meme Kombat – Innovative Gaming Podium for Gaming Enthusiasts
Meme Kombat is another ground-breaking project in the meme coin world with enriching features for game lovers. As the name implies, it operates on a stake-and-play-to-earn model to reward its users for keeping the platform active.
Whether you join an active bet or go for passive staking, Meme Kombat uniquely rewards all your participation on the platform. Given its simple objectives, the project’s presale is attracting many gamers, meme enthusiasts, and meme coin traders.
As a result, the $MK token is amassing $5.8 million out of the $6.5 million target. Also, according to the presale widget, the presale will end the next day.
If you’re interested in this project, the $MK token sells for $0.268, which is a good entry point. Swap your ETH or USDT for the token and be part of this futuristic meme coin.
Variables Driving Meme Kombat to the Top
As seen above, there is an attractive Annual Percentage Yield (APY) of up to 161%. For this reason, stakers are likely getting involved to be part of such a yield.
With 77% of $MK already staked, many seem drawn to earning rewards by participating in the meme-battling project.
This platform lets users stake their $MK tokens in the Meme Kombat Arena, where they can bet on battles and earn rewards while supporting their chosen champions.
The potential for high returns through staking and engaging in these meme battles is likely encouraging more people to join in on the action.
Another variable that could be driving the surge in the total $MK purchase in presale is the UI updates coming on the Meme Kombat platform.
According to the project team on X.com, there will be an updated wagering interface, stats, leaderboard, AI battle log, and more sophisticated features such as countdowns for wagers and fights.
We are working on:
– Wagering interface
– AI Battle Log
– More misc features like countdowns to fights and for wagers etc.
Note that as soon as we feel comfortable with our near final looks we will share it all with you.
— Meme Kombat (@Meme_Kombat) January 3, 2024
The crypto market declined today following rumors that the SEC will likely reject all Bitcoin spot ETF applications. However, the fate of the crypto market remains highly speculative ahead of the January 10 deadline for an ETF approval.
Despite the decline, investors are turning to altcoins, making them record impressive gains in the last 24 hours.
These altcoins offer their community an exciting roadmap and a low entry point for investors who missed out on BTC and top cryptos. Nevertheless, the price outlook of the crypto market today serves as a reminder that volatility is constant.
Therefore, proper risk management is always necessary.