Crypto investors turn to presale opportunities as coin prices crash

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Crypto prices collapsed this week following the U.S. Federal Reserve’s latest monetary policy announcement and the U.S. Securities and Exchange Commission’s lawsuit against Binance and Coinbase. Major crypto tokens have plummeted over 20 percent within a few hours.

The Fed decided to halt interest rate hikes and maintain the Federal Funds Target Range at 5.0–5.25 percent, per the announcement on Wednesday. However, chairman Jerome Powell said there would be more interest rate hikes later this year, with the median expectation reaching 5.6 percent.

The hawkish guidance from the Fed came one week after the SEC filed lawsuits against Binance and Coinbase, accusing them of illegal operations and selling unregistered securities. With the two issues combined, investors are growing wary of the U.S. crypto market.

The indication of prolonged higher interest rates prompts investors to shift towards safer, yield-generating assets like U.S. Treasuries. At the same time, they choose to stay away from speculative risk assets such as cryptocurrencies.

The crypto market may be hit with more repercussions if the Fed increases the interest rate hike. Investors are already feeling uneasy after the recent rate hike by the Bank of Canada. If the Fed follows a stricter stance, it could send the crypto market into another long winter.

Bitcoin and Ethereum drop in prices

Bitcoin (BTC) dropped more than three percent on Wednesday after the Fed released the announcement. Its price dipped below $25,000 for the first time since March.

According to recent data, bitcoin also faces the possibility of liquidation above $100 billion. The latest statistics from trader and crypto analyst “Bleeding Crypto” on Twitter reveal a total liquidation of $63.9 billion at the $24,200 price level and $52.3 billion at the $21,800 mark.

Increased selling pressure in Bitcoin could potentially result in further liquidations, which in turn could lead to a price crash. It will delay any potential uptrends, bringing the crypto currency’s price to lower levels, just like at the beginning of the year.

It is also possible that institutional investors will take advantage of the current liquidations by buying Bitcoin at a lower price. This situation could lead to a surge in buying pressure and propel the price of Bitcoin even higher.

Ethereum (ETH) had it worse as it dropped over five percent to the mid-$1,600s, per its 200-day moving averages (DMAs). Similar to Bitcoin, this is also its lowest level since March.

The cryptocurrency has been struggling to keep its price above $2,000. The 50-day moving average has rejected its price on the daily timeframe at $1,850. It has since declined below $1,800 and is currently experiencing downward momentum.

The 200-day moving average is a popular technical indicator of the overall crypto trend. If the price falls below this point, Ethereum could drop toward the $1,300 level. However, if the price bounces back from the mentioned moving average and break above both the $1,800 level and the 50-day moving average, Ethereum is likely to rally toward the resistance level at $2,300 or higher.

Some cryptocurrencies surge in prices

Even though the overall crypto market is trending downward, several crypto projects are bucking the trend. Wall Street Memes, which became famous amid the meme stock craze in 2021, is one of them.

The WSM group has already established itself as a major player in the Web3 space. Previously, it sold out its Wall St Bulls NFT collection in just 32 minutes, generating $2.5 million in revenue. The group has also recently launched its own Bitcoin Ordinal NFTs.

Its recently released $WSM token presale garnered over $7 million in just over two weeks. This figure came as no surprise as it has amassed over 523,000 community members on Instagram, 214,000 on Twitter and over 100,000 across its two other Instagram accounts, wallstgonewild and wallstbullsnft.

The Wall Street Memes token stands out in the meme coin market, as other meme tokens like Dogecoin and Pepe disappoint investors with significant drops. Dogecoin fell over 13 percent over the last 24 hours while Pepe 21 percent in the same period.

Despite its popularity, the project gives everyone an equal chance to invest. The entire $WSM supply will be available on the market with no private sale. Fifty percent of the tokens are available in the presale, and 30 percent are reserved for community rewards. Five lucky investors will receive $10,000 worth of WSM tokens in an airdrop.

Another meme coin that is on the rise is AiDoge (AI). This meme coin project combines viral meme-making with innovative generative AI technology.

Its presale was sold out in only a few weeks, collecting over $14.9 million. Many investors maintain that it will be the next coin to blow up. Investors can still obtain $AI tokens at the exchange listing price of $0.0000336.

AiDoge is developing a Web3 platform where users can share and vote on memes generated by the platform’s advanced AI technology. The creators of the best memes will receive financial rewards in the form of AiDoge’s native $AI token.

The rising interest in AI trading platform yPredict

The volatile crypto market has forced retail investors to seek new trading tools and evolve their trading practices. As a result, yPredict’s AI-powered ecosystem is gaining popularity for its wide range of tools and market insights.

“Exciting times ahead with #YPredict! Can’t wait to see how Hecate and Athena revolutionize the DeFi landscape. $nfai is definitely one to watch in this space,” said Twitter user externalhipster.

yPredict is building a first-of-its-kind financial price prediction system that uses deep data analysis to help crypto investors discover the next explosive crypto. Per the project’s whitepaper, yPredict’s crypto price prediction system will be free and open to all users without any login necessary.

All $YPRED holders are granted lifetime access to the yPredict Prediction tools. They are also eligible for a 45 percent annual percentage yield (APY) in quarterly staking rewards. Holders can acquire the token by swapping ETH, MATIC or USDT. Purchase through bank cards is also possible.

The $YPRED token has raised $2.2 million and is nearing its $2.9 million target. Its current price is $0.09. The token is expected to experience a significant surge of almost 30 percent during the next phase of the presale.


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