The crypto market has maintained its positive performance since October as the buyers continue to uphold the rally. The total value of the crypto market has increased to $1.35 trillion in the past 24 hours, confirming the ongoing accumulation.
Notably, the Fear and Greed Index is at 72, expressing greed as the current investor sentiment in the market. Today, November 2, Bitcoin is back above $35,000, with a 2.4% increase in its value in the last 24 hours.
Bitcoin’s resurgence continues to support the ongoing rally for altcoins and meme coins, with impressive gains also recorded. As a result, some altcoins and presale tokens are benefiting from this bullish cycle today. Find them below to know their possible price outlook in the coming days.
TIA (TIA) – The Largest Tokenized Diamond Marketplace
TIA’s price on November 2, at 5:45 am EST, is $0.0024, an 11% increase in the last 24 hours. One factor likely driving TIA’s price gains is the rising demand for asset tokenization globally.
Notably, regulators in regions such as Singapore, Japan, Switzerland, and the UK are taking steps to promote asset tokenization adoption.
Asset tokenization is gaining momentum worldwide, with regulators in Singapore, Japan, the UK and Switzerland taking significant steps.
They are planning tests for various financial products such as fixed income, foreign exchange, and asset management.
🧵 pic.twitter.com/FdcNs1kwhR
— Tiamonds (@Tiamonds) November 2, 2023
Also, these regulators plan to test various financial products, such as foreign exchange and asset management, soon aided by blockchain technology. Meanwhile, the Monetary Authority of Singapore (MAS) is developing its tokenization project tagged Project Guardian.
This is in collaboration with the financial authorities in Japan, the UK, and Switzerland. Ultimately, the goal of Project Guardian is cross-border advancement for asset tokenization.
This project covers critical aspects such as legal and accounting frameworks for digital assets and risk identification.
Notably, tokenized U.S. Treasuries recorded exponential growth in 2023, surging to $698 million from $100 million at the beginning of the year. Also, the rising global interest rates and depreciating finance yields have prompted crypto investors to seek higher using tokenized assets.
Tiamonds is a leader in the asset tokenization niche and offers tokenized diamonds backed by real-world diamonds. This innovation and growth in tokenized asset adoption is likely driving TIA’s gains, evident on the daily chart.
However, it faces the possibility of retracement, likely due to buyers closing their long positions.
TIA Facing Stiff Resistance at $0.0031 As Sellers Return, Will It Retrace?
TIA is facing resistance on the daily timeframe after its rally from October 31 – to November 1. TIA found support at $0.0027 but faces resistance at the $0.0031 price level as the sellers attempt to force a decline.
Further, TIA is descending from the upper region of the Donchian Channel (DC) and approaching the Median Band.
A drop below this Median Band will confirm that the sellers have seized control of TIA’s price. Today, the Relative Strength Index (RSI) indicator is 51.21, dropping from the neutral zone.
It will likely approach the oversold region if the $0.0027 support fails to hold.
Also, the Moving Average Convergence/Divergence displays a weak buy signal, confirmed by the fading green Histogram bars. TIA will likely return to the $0.0027 support level in the coming days to consolidate its gains. However, the buyers can re-enter the market to force a rally for TIA at the $0.0027 support.
Aave (AAVE) – The Open-Source Protocol for Liquidity Markets
AAVE price on November 2, at 5:55 a.m. EST, is $95.48. This price indicates a surge of 16.2% in the last 24 hours. Additionally, AAVE has gained 14.75 in its price in the last seven days, confirming that the buyers are in control.
Enzyme Finance announced that it enabled borrowing on the Aave V3, which is the upgraded version of the DeFi liquidity protocol. This is likely aiding AAVE’s price gains.
1) Exciting news! 🥳@Enzymefinance now supports borrowing on @Aaveaave V3. By borrowing, asset managers can obtain liquidity (working capital) without selling your assets.
📚Learn: https://t.co/v1poTdIV4X
👀👇
— Enzyme (@enzymefinance) October 30, 2023
Due to the development, users can enjoy the enhanced features on the Aave V3 platform to supply liquidity and borrow assets. Some of the new features include Isolated mode, which limits the risk exposure for new assets used as collateral.
Also, the isolation mode only permits borrowing for a specified amount. Users will save up to 25% on gas fees, obtain liquidity without selling their assets, and enjoy transparent borrowing. They can take advantage of the E-mode for high efficiency.
Enzyme will support a wide range of assets, thereby boosting the utility of the Aave ecosystem, leading to significant price gains for AAVE. Notably, AAVE shows impressive gains on the daily chart and will likely continue its rally in the coming days.
Aave Testing The $95.9 Resistance Level. Will The Bulls Sustain the Rally?
AAVE is in an uptrend on the daily chart, confirming rising pressure from the buyers. It found support at the $88.8 price level, and the upper wick of today’s candle is testing the $95.9 resistance level.
A break above this resistance level will likely send AAVE to the $96-$98 price range if the bulls sustain their charge. Also, AAVE trades above the Parabolic SAR indicator, confirming that the buyers are still active in the accumulation phase.
Furthermore, the RSI indicator is in the overbought zone and expresses a value of 72.6. Notably, the RSI is rising, confirming that the buyers are still dominant and will likely uphold AAVE’s price gains. Therefore, AAVE will likely break above the $95.9 resistance level if the bulls sustain their charge.
Uniswap (UNI) – The Reliable Decentralized Exchange
UNI’s price on November 2, at 6:02 a.m. EST, is $4.70, with a 14.7$ price increase in the past 24 hours. Additionally, UNI has gained 9.45 in its price in the last seven days, implying that the buyers are still active.
UNI’s price gains could be connected to recent data released by defillama.com.
According to the data, on November 1, Uniswap ranked as the top decentralized exchange by seven-day volume. These statistics were derived from Arbitrium ($1.79 billion), Polygon ($404 million), Optimism ($220.7 million), and Base ($48.8 million).
Uniswap is the top DEX by 7-day volume on
🏆 Arbitrum: $1.785b
🏆 Polygon: $404m
🏆 Optimism: $220.69m
🏆 Base: $48.8m
Deep liquidity. Simple UX. Secure swapping. That’s whyhttps://t.co/DohEf3gajs pic.twitter.com/9nlufO0wHA
— Uniswap Labs 🦄 (@Uniswap) November 1, 2023
Also, on October 30, Ultrasound. money noted that 6,871 ETH tokens were burnt in the last 30 days using Uniswap protocol contracts. This massive application has also aided UNI’s gains in the past week. Another notable development on Uniswap is the Uniswap v4 Hooks.
These hooks are like plugins that enable developers to build on the Uniswap protocol liquidity and security to develop new AMM features. Remarkably, the Hooks are permissionless, giving users free access to create and deploy a hook. Meanwhile, the UniswapX feature introduced earlier in the year seems to catalyze UNI’s gains.
With this feature, users do not need to pay gas fees on failed transactions, which is a big bonus compared to other networks. Also, swappers use their wallets to sign gasless off-chain orders needed to complete a trade. Furthermore, users don’t need to hold the native token to pay for gas fees during swaps.
These exciting developments confirm Uniswap’s status as one of the leading crypto exchanges worldwide. Notably, UNI has rallied in the last few weeks but faces retracement due to a significant resistance level on the daily chart.
UNI’s $4.67 Support Failing: Will Its Decline Continue?
UNI has formed a red candle on the daily chart after the Maribozu candle formation yesterday that broke above the $4.67 price level. Presently, it encountered resistance at the $4.81 price level and is dropping below the $4.67 support as the sellers mount more pressure.
Although UNI is still trading close to the upper band of the Bollinger Band (BB), its candle is forming a lower wick, hinting at further price decline.
Furthermore, the RSI indicator confirms the bearish sentiment on the chart today, with a value of 62.8. Also, the RSI indicator is retracing and will likely drop into the neutral zone at 50 soon.
Therefore, UNI will likely record further price decreases in the coming days till it finds a new support level and the buyers rally again. While the crypto market continues on its positive trend, investors can take advantage of ongoing crypto presales with massive potential.
Meme Kombat (MK) – The Memecoin AI-Battleground
You see $WOJAK lining you up… what do you do? pic.twitter.com/iVHsSBnkOO
— Meme Kombat (@Meme_Kombat) November 1, 2023
Meme Kombat has evolved into a massive ecosystem since it began its presale, owing to massive interest from its community. This project allows users to engage in battles using their favorite memes to earn exciting rewards.
Visit Meme Kombat Presale
Also, these battles are available to users in several modes, such as Player vs. player and Player vs. game, ensuring variety. Notably, the MK tokens power the ongoing revolution in the Meme Kombat ecosystem and are on presale.
However, a price increase is coming today, November 2, to move the MK tokens from $0.1667 to $0.1833. Users can purchase these tokens by linking a secure crypto wallet to the presale page and completing the process with ETH or USDT.
Notably, the presale will proceed in 10 stages after the price increase on November 2, and each stage will run for seven days. Each stage will usher in a price increase, with the last stage moving the price of $MK to $0.379, granting paper rewards to initial investors.
Meanwhile, Meme Kombat will roll out significant developments for each milestone achieved. For instance, the Staking dApp launch follows the $1 million milestone.
Remarkably, Meme Kombat is above $1 million; therefore, the dApp will likely be released soon.
Presale Staking Creates Avenue for Additional Rewards
Meme Kombat has an automatic staking feature for all tokens purchased during the presale. These tokens are staked for extra rewards and to preserve MK tokens’ value from inflation.
Staked tokens give users access to wager on battles, and they can specify the portion of their tokens for betting. Users can take advantage of the presales to accumulate MK tokens ahead of a potential price increase when it lists on notable exchanges.
Bitcoin Minetrix (BTCMTX) – The Innovative Cloud Mining Platform
Visit Bitcoin Minetrix Presale
Bitcoin Minetrix is a cloud mining platform aiming to mitigate the challenges encountered by traditional Bitcoin miners. It introduces a Stake-to-Mine concept where users stake their native BTCMTX tokens to gain mining credits.
When integrated into an #Ethereum smart contract, the $BTCMTX #Token acts as the gateway to access #Bitcoin cloud mining. 🔑
Eager users can effortlessly purchase and employ #BTCMTX tokens to secure cloud mining credits, ultimately traded for hashing power. pic.twitter.com/c3Ojzq25h0
— Bitcoinminetrix (@bitcoinminetrix) November 2, 2023
Next, these credits are burnt in exchange for hashing power, making the process quite seamless and profitable. BTCMTX token acts as the gateway for miners to access cloud mining when it is in an Ethereum smart contract.
According to a Tweet by Bitcoin Minetrix developers on November 2, there is a proposed Digital Asset Mining Energy (DAME) tax. This tax aims at imposing a fee on crypto miners’ electricity costs and addressing the impact of mining on the environment.
If this tax is approved, it will likely affect mining profitability and the potential relocation of miners to more receptive regions. So, this development underscores the need for investors to consider cloud mining as an alternative and save on electricity costs.
BTCMTX Presale Enters Fifth Stage
The BTCMTX presale is still ongoing and moved into its fifth stage today, with a price of $0.0114. BTCMTX tokens are purchased with ETH, USDT, or secure bank cards. Also, users require secured crypto wallets such as Meta Mask or Trust Wallet.
#BitcoinMinetrix Stage 5 is Live! 🔥 pic.twitter.com/OIZcFFIUeX
— Bitcoinminetrix (@bitcoinminetrix) November 2, 2023
Remarkably, over $3.11 million has been raised out of the potential target of $4.18 million at this stage. BTCMTX is four days away from another price increase that will yield paper rewards for initial investors.
Based on the utility of BTCMTX tokens, investors should take advantage of the presales ahead of a potential price surge when it lists on exchanges. According to Tokenomics, BTCMTX has a total supply of 4 billion tokens, with 42.5% dedicated to Bitcoin mining rewards.
Bitcoin Minetrix hopes to offer a secure and profitable solution for miners due to the challenges in the mining sector and cloud mining scams. However, users must conduct personal research as there are no guarantees in the crypto market.
Conclusion
The crypto market has retained its positive performance from October to rally further in November.
If the price gains continue, then this could be the most productive quarter for the crypto market in 2023.
Nevertheless, historical price data suggests that a retracement could likely occur before the uptrend continues. Therefore, investors must apply safe trading methods to avoid losses caused by price volatility.
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