Market
Farm Free ADIX, FXAS, and More
As Bitcoin (BTC) eyes further gains, with potential to hit $90,000, traders and investors remain optimistic. Amid this bullish sentiment, several crypto airdrops offer lucrative opportunities with minimal investment.
These airdrops distribute free tokens to attract new users and expand communities. For crypto enthusiasts, the following airdrops present a chance to earn new tokens and engage with emerging projects.
ADLTIX
ADLTIX offers a novel artificial intelligence (AI) platform designed to transform data into actionable insights. With up to 125,000 ADIX tokens to be airdropped, this Telegram bot project’s airdrop started in August and will end on November 20.
“Participate in our airdrop and share 125,000 ADIX tokens by completing tasks. Rewards were distributed around Nov 20. 1000 lucky participants will win! Top 200 referrals get extra ADIX tokens,” ADLTIX noted.
Fortified X
Fortified X is a novel blockchain project focused on enhancing the security and accessibility of decentralized finance (DeFi) assets. Starting in September, this Telegram bot’s airdrop climaxes on November 20, with up to 217,500 FXAS tokens to be allocated.
Notably, the airdrop will take place five days before the project’s public sale, strategically positioning airdrop farmers for possible gains during the IPO.
“The FXAS Public Sale is happening on 25th Nov 2024,” Fortified X shared recently.
As the countdown continues, Fortified X indicated that top-tier KOLs back the imminent launch, bringing massive support and hype to its public sale.
Renewable Energy Ventures
Leading the clean energy revolution, this project aims to drive sustainable solutions while pushing the boundaries of crypto innovation. The Renewable Energy Ventures (REV) airdrop, set to end on November 22, will distribute up to 100,000 REV tokens. To participate, users must submit their Ethereum wallet addresses via the Gleam page and can earn additional points by referring friends.
The project is also running a referral program until Thursday, November 14, offering rewards for participants. However, it has issued a warning against any fraudulent activity, emphasizing the importance of fair participation.
“Referrals will be monitored, and any form of cheating, like bot entries or duplicate accounts, will result in immediate disqualification, and a ban from the community. Violators will lose access to all future events and campaigns,” an official post on X read.
DeusWallet
DeusWallet is a multi-currency crypto wallet that combines advanced security features with comprehensive DeFi functionality. The project confirmed its airdrop after launching a prize distribution campaign with a substantial $250,000 reward.
“The campaign rewards users based on their blockchain activity and wallet usage, with prizes distributed proportionally to participants’ involvement,” DeusWallet said.
The distribution event is scheduled to conclude on December 25, when the project will reveal the winners and distribute the rewards within 24 hours. Meanwhile, to participate in the DeusWallet airdrop, participants must share a screenshot from the ‘Receive’ menu.
Participants are also eligible for maximized rewards when they maintain a higher balance in their DeusWallet to increase potential prize share. The reward system considers balances when calculating prize distributions. Users can also employ multiple addresses and join the project’s referral program.
“Earn a 10% bonus based on your referees’ prize balances,” it said.
Loop
Loop also confirmed its airdrop as it presents a dedicated lending market for Ethereum carry trades. The project is running a points program for its users, incentivizing them to lock their Ethereum (ETH), or liquid restaking tokens (LRT), into the protocol.
This crypto airdrop project announced that at its token generation event (TGE), 7% of the tokens will be airdropped with a linear conversion among all participants.
“At TGE, 7% of the supply will be distributed among the participants depending on the number of points earned,” Loop said.
Participants can also refer their friends to earn 20% of the points (Quaaloops) given to the depositor.
Swing.xyz
Swing.xyz airdrop is slated for some time in the fourth quarter (Q4). Airdrop farmers interested in Swing can acquire points by using the Swing protocol through Galaxy Exchange. The accumulation of points is achieved through a variety of activities, including making Swaps and Bridge transfers. Users can also perform quests and refer friends.
Further, the launch of Swing points is the primary method for transferring power to the community over time. It serves as a distribution channel, enabling everyone to actively contribute and participate in future Swing governance.
zkFinance
This is an all-in-one DeFi solution for zkSync, offering lending and borrowing, bridge, cross-chain swaps, and concentrated liquidity.
Standing among the top eight crypto airdrops to watch this week, zkFinance plans to distribute 20 million ZGT tokens over the course of 100 days. With this, 200,000 ZGT tokens are distributed daily for participants who supply or/and borrow a minimum of $200.
Some users have compared the zkFinance airdrop to Scroll, with the former said to be presenting better prospects.
“Zksync airdrop 17.5% launch at $7 billion fully diluted valuation (FDV) and now Scroll airdrop only 5% but $1 billion FDV. Even your first airdrop is lower than the incentive next coming from zkSync. I’m going to move my asset back to ZK,” wrote Justin Ng.
Stacking DAO
This is the leading liquid staking protocol (LSP) and the largest DeFi app on the Stacks blockchain. STX stacking is made easy by providing access to stacking yields up to 10% and unlocking STX liquidity to earn more rewards across DeFi.
“…250k Jindo tokens were airdropped to Stacking DAO and Zest depositors. Textbook play of how to tap into established Stacks DeFi communities and generate awareness,” the project shared recently.
Even as the project runs its airdrop, it is worth noting that users in the USA are not eligible for this and are barred from participating.
While these are some of the best upcoming airdrops, investors should conduct thorough research when choosing which projects and opportunities to farm.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Will the Altcoin Season Cycle Begin Soon? Analyst Weighs In
Crypto analyst Miles Deutscher has pointed to a promising technical setup in TOTAL3, fueling speculation that the altcoin season cycle may close. The analyst comments come as the broader crypto market sees a notable bounce, with Bitcoin (BTC) briefly crossing $93,000 and several altcoins showing strong gains.
But how soon could altcoin season actually arrive? This analysis delves into other factors that could either ignite or delay the anticipated rally.
Altcoin Season on Standby, Analyst Says
For context, TOTAL3 is the entire market capitalization of the top 125 cryptocurrencies excluding BTC and Ethereum (ETH). Historically, when this metric rises, it indicates that altcoin season could be on the horizon as long as Bitcoin dominance drops.
Deutscher’s post on X (formerly Twitter) showed the TOTAL3 monthly chart, indicating that it had formed strong support. The post also revealed that the recent rise in altcoin prices has taken the market cap above notable resistance.
“TOTAL3 (altcoin index) monthly chart. Setup looks fantastic, honestly.” Deutscher wrote on X.
While the analyst’s opinion might be valid, one obstacle that could hinder the altcoin season cycle is Bitcoin’s dominance. Bitcoin dominance refers to the ratio of BTC’s market capitalization compared to the total market capitalization of the entire cryptocurrency market.
As of this writing, the BTC.D, as it is popularly known, is 61.33%. This indicates that the number one cryptocurrency still has a strong hold on the market. For alt season to commence, this ratio has to drop, which Deutscher himself admitted on November 12.
“Bitcoin dominance keeps grinding higher. Only when BTC dominance breaks down can a true alt season ignite.” The analyst emphasized.
Altcoins Surge Could Be Delayed Until BTC Drops
Currently, Blockchaincenter’s altcoin season index, which measures whether the market is in an alt season, has dropped one place to 29. About one week ago, the reading was 30. For confirmation, at least 75% of the top 50 cryptos need to outperform BTC.
Despite this uptick, the index remains well below the 75 threshold, as only 16 of the top cryptocurrencies have outpaced Bitcoin over the past 90 days.
Should that remain the case, then Bitcoin’s price might climb to a higher value before most altcoins hit new highs. However, if BTC experiences a double-digit correction, this could give way for alts to thrive. If that happens, then alt season can officially begin.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why the Aptos Token Price May Struggle to Recover
Yesterday, the world’s largest asset manager, Blackrock, disclosed that it had expanded its tokenized money fund to other blockchains, including Move-programmed Apots (APT). This development sparked speculation that the Aptos token price could gain from it.
Initially, APT price climbed to $12.60. But as of this writing, the altcoin has dropped by 6.33%, suggesting that the integration with Blackrock is not enough to keep the price going high.
Aptos Falters Moments After Bullish Announcement
Blackrock’s announcement, which BeInCrypto reported earlier, coincided with the broader market rally, as the Aptos token price had increased by 21%. However, our finding shows that the drop in Open Interest (OI) was one reason that APT failed to hold on to the $12 mark.
According to Santiment, APT’s OI attempted to approach $200 million on Wednesday, November 13. But it did not and has now dropped to $105.37 million. Open Interest refers to the total number of active contracts in the futures market that have not yet been settled.
An increase in OI indicates more participants are entering the market, potentially strengthening the current trend. Conversely, a decrease in the metric may suggest that the trend is losing momentum.
Therefore, with the metric declining in Aptos’s case, there is a chance that the altcoin’s price might continue to decrease. Additionally, the Chaikin Money Flow (CMF) indicator suggests that Aptos’ price may face challenges in staging a rebound.
For context, the CMF is an indicator developed to track the accumulation and distribution of an asset over a specific period. It ranges from -1 to +1. When the reading rises, it means that accumulation is ongoing, and the price can increase.
However, in APT’s situation, the reading has dropped, suggesting that selling pressure has begun to outpace buying pressure. Should this remain the same, Aptos’ price could slide lower than $11.69.
APT Price Prediction: Sub-$10 Likely
On the daily chart, Aptos faces resistance at $13.72, with support at $10.43, just below the 23.6% Fibonacci retracement level. Given the decline in trading volume, the price of Aptos could continue to slide, and bulls may struggle to maintain support at this level.
This is largely because low trading volume indicates a drop in market interest. As such, it could be challenging for buying pressure to increase. If this is the case, then APT’s price might drop to $9.85.
On the other hand, an increase in buying pressure could invalidate that prediction. Thus, if the accumulation of APT rises, the price might bounce toward $14.13.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why the MAGA (TRUMP) Coin Price Will Test Its 2024 Low?
The Donald Trump-linked meme coin MAGA (TRUMP) has experienced a sharp decline over the past week. This diverges from the broader market rally sparked by Trump’s victory in the 2024 US presidential elections. TRUMP trades at $1.48 as of this writing, marking a 35% drop in the past seven days.
With plunging buying pressure, the meme coin is on track to retest its year-to-date low. The question now is how soon TRUMP will breach this level.
MAGA Traders Continue To Dump Holdings
TRUMP’s Aroon Down Line confirms the strength of its current downward trend. The indicator’s value is close to 100 at 78.57 at press time.
The Aroon indicator identifies the strength and direction of a trend. When the Aroon Down Line is close to 100, the asset’s price has consistently made recent lows over the measured period. It suggests the asset has been in a strong downtrend, indicating sustained bearish momentum.
Additionally, the setup of TRUMP’s moving average convergence/divergence (MACD) indicator confirms the rising selling pressure in the market. As of this writing, the meme coin’s MACD line (blue) rests below its signal line (orange) and is under its zero line.
This indicator tracks an asset’s trend direction, shifts, and potential price reversal points. When the MACD line is below both the signal and zero lines, the asset’s short-term momentum is weak, signaling a potential bearish trend. Traders interpret this as a strong selling signal, as it implies that the price is likely to continue declining.
TRUMP Price Prediction: Meme Coin May Be Oversold
Currently, TRUMP trades at $1.48. If the decline continues, its next price target is its January low of $0.14, which is its year-to-date low.
However, readings from the meme coin’s Relative Strength Index (RSI) suggest that it is almost oversold and due for a price rebound. At press time, TRUMP’s RSI is at 32.58.
The RSI indicator assesses whether an asset is oversold or overbought. Its values range between 0 and 100. Values above 70 indicate that the asset is overbought and due for a correction, while values below 30 suggest that the asset is oversold and may experience a rebound.
TRUMP’s RSI of 32.58 indicates that the meme coin is nearing the oversold threshold. Traders may start to watch for signs of a price bounce or trend shift, and if this happens, its price may climb toward $3.92.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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