Altcoin
AI Coins Trigger Crypto Market Rebound, What’s Happening?
In an unprecedented turn of events, AI coins have experienced a notable price rebound today, piquing investor interest globally. This follows recent attention-nabbing developments witnessed across the AI sector, encompassing advancements by Apple, Binance, Tether, AMD, and other giants. Intriguingly, following a considerable upside momentum gained by AI coins today, some of the top crypto prices gained in tandem. This sparked a flurry of inferences among crypto market participants over AI’s role in crypto price rebound.
AI Coins Rebound Amid Sluggish Market
It’s worth mentioning that the broader crypto market has been experiencing quite a bearish trend in recent days, with Bitcoin (BTC) & Altcoins witnessing a significant drop in prices. However, the AI sector’s remarkable progress and the growing speculation about the convergence of these two industries have led to a substantial rebound in AI coins’ value.
This is followed by a 3.21% surge in the global crypto market cap today after a bearish movement engulfed most crypto prices in the past 24 hours. Bitcoin, Ethereum, and BNB have gained an upside momentum in tandem with AI coins.
According to CoinMarketCap’s data, top AI coins NEAR Protocol (NEAR), Render (RNDR), and Injective (INJ) have noted a aignificant upside momentum at the time of writing. RNDR leads the pack with a remarkable 11.32% increase to $9.17, while NEAR and INJ experienced gains of nearly 6%-10%.
Simultaneously, Bitcoin gained over 3% to $69,7322, ETH jumped by 2.82% to $3,639, and BNB bumped 2.96% to $626 at press time.
Also Read: Shiba Inu Exec Warns Bearish Outcome As Apple Exits X Amid Elon Musk’s Heat
What’s The Scoop?
Senior crypto research analyst at Bitwise, Juan Leon, spotlighted that “The intersection of artificial intelligence (AI) and crypto is going to be even bigger than people imagine. The two industries could add a collective $20 trillion to global GDP by 2030.”
Aligning with this, the surge in AI coin & altcoins prices comes against the backdrop of attention-nabbing developments. These include:
- Apple appears to have recently unveiled its AI, gearing up for the next stage of developments that taps into this emerging tech.
- Binance Labs recently announced to invest in an AI-enabled zk rollup, Zircuit (L2).
- Tether unveiled plans to invest over $1 billion in AI over the coming year.
- AI chipmakers Nvidia & AMD pioneer the realm, simultaneously.
- BTC miners look into diversifying ventures into AI, per recent reports.
These factors, collectively, underscore a strong relation between the rise in AI coins and crypto prices. The intersection of the two sectors, as seen by the abovementioned ventures, paves an optimistic path for both sectors.
Also Read: BitForex Hot Wallet Reactivated Holding $43M In Assets
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Puffer Price Skyrockets 40%, Biconomy (BICO) 20% After Major Listing
South Korea’s second-largest crypto exchange Bithumb has launched KRW trading pairs for Biconomy and Puffer Finance. This marks a significant milestone for both projects. PUFFER price soared 40%, while BICO jumped nearly 20% following the listing.
Both tokens are available on the Ethereum network, with deposits and withdrawals now live today. This launch offers new governance and staking opportunities, further expanding Bithumb’s offerings in the growing DeFi space.
Bithumb Introduces Trading for Biconomy and Puffer Finance
Bithumb announced Biconomy and Puffer Finance listing on its platform on November 25. This launch marks a key milestone for both projects. Users now have seamless access to these tokens, offering governance, staking, and utility features.
The exchange has launched trading pairs for BICO and PUFFER in the KRW market. Both tokens will be supported on the Ethereum network, with deposits and withdrawals limited to Ethereum only. Biconomy token has a base price of 480 KRW, while Puffer Finance is listed at 422 KRW. The exchange has also outlined a five-minute restriction on buying orders after trading begins and a limitation on selling orders within a 12% price range to ensure smooth transactions.
Both tokens offer enhanced utility within their respective ecosystems. BICO supports smart account functionalities, staking, and transaction fees within Biconomy’s multi-chain relayer infrastructure. PUFFER, on the other hand, is a key component of Puffer Finance’s liquidity re-staking protocol, enabling users to easily stake ETH and earn rewards.
The launch of these tokens on Bithumb presents an excellent opportunity for investors seeking governance and staking utilities within the rapidly growing DeFi space.
Price Surges Following Exchange Listing
Listing on major cryptocurrency exchanges gives a significant boost to tokens, as seen with FLOKI’s surge after its listing on Coinbase. Similarly, the recent Bithumb listing has positively impacted PUFFER and BICO, driving up their prices and trading volumes.
Puffer price is currently trading at $0.39, with a 40% increase in the last 24 hours. Its 24-hour low and high are $0.26 and $0.422, respectively. Over the past month, PUFFER has gained 50%, and in the last week, it has risen by 36%. With a market cap of $38 million and a trading volume of $114 million, PUFFER price is seeing strong upward momentum.
BICO, the native token of Biconomy, is currently priced at $0.37, reflecting a 12% increase in the past 24 hours. Its 24-hour low and high range between $0.299 and $0.37. Over the last month it has surged by 110%, while in the past week, it has gained 27%. Biconomy market cap is at $329 million, with a 24-hour trading volume of $59 million.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
GameFi, Metaverse Crypto Sectors Lead With 100% Sandbox (SAND) Price Rally
The GameFi and Metaverse sectors have taken charge of the next leg of the crypto market rally with The Sandbox (SAND) price gaining almost 100% in the last 2 days. Apart from SAND, other market players like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also staged strong gains over the past week.
The Sandbox (SAND) Price Revives GameFi, Metaverse Sectors
Metaverse platform The Sandbox has registered strong network activity with its native token SAND price gaining more than 100% in the last few days. As a result, it managed to outperform other top altcoins like XRP and Cardano.
Furthermore, on-chain metrics show that the SAND price rally can continue further. As per the CryptoQuant data, the daily transaction count for SAND has surged to 11,597 reaching the highest in the last seven days.
The surge in SAND’s transaction count shows that investors are bullish on the asset’s recent surge thereby signaling higher demand and participation. Furthermore, there’s also a surge in the exchange withdrawal transactions that hints at a bullish momentum ahead. It shows that long-term investors are moving SAND off the exchanges hinting at increased confidence in the asset.
On the technical chart, SAND price has given a breakout from the downward-trending pattern eyeing the next target of $1.40. Thus, investors are eyeing for another 75-80% rally ahead.
$SAND Breaking out , Ready for next leg-up🚀#Altseason pic.twitter.com/YVxrQtXl70
— Wallstreet Queen (@wsqofficial) November 24, 2024
MANA, GALA, and AXS Join the Party
Apart from The Sandbox (SAND) price rally, other GameFi and Metaverse tokens like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also joined the party gaining 25-50% over the past week.
With more than 67% gains on the weekly chart, the MANA price is currently trading at $0.70 with its market cap crossing $1.3 billion. If the bulls manage to sustain past the $0.70 resistance, they can take MANA to $1.30 with another 100% gains in the making.
$MANA army, ready for a comeback?!📈🚀 pic.twitter.com/DCFSCKLXX4
— Solberg Invest (@SolbergInvest) November 24, 2024
Similarly, Axie Infinity (AXS) price is up 42% on the weekly chart and currently trading at $8.13 levels. Also, the daily trading volume for AXS has shot by 28% surging past more than $1.02 billion.
Axie Infinity, developed by Vietnam-based Sky Mavis, is a blockchain-based game that uses a “play-to-earn” model, enabling players to earn cryptocurrency through gameplay. The AXS price has bounced back after a double-bottom formation. As per the technical chart, the next subsequent targets for AXS could be $28, $45, and $69.
$axs is forming a possible double bottom structure. these are my targets for $axs coin pic.twitter.com/x36t11TNXk
— Vinci | DEEK (@Vince26king) November 24, 2024
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Super Pepe Coin Whale Sells 130B PEPE, Shifts Focus To EIGEN
Amid a highly turbulent crypto market witnessed as the week kicks off, a super Pepe Coin whale shifted focus to EIGEN has sparked significant market discussions. Notably, on-chain data pointed out a massive 130 billion PEPE whale selloff, with the investor simultaneously diversifying his portfolio by buying over 200K of the Ethereum-based token.
This swap of positions, amid a slumping action witnessed by the meme coin and a gaining action seen by the EigenLayer ecosystem token, set off waves of speculations over the coins’ future tendencies.
Super Pepe Coin Whale Refocuses Investments, Buys EIGEN
According to whale data by Spot On Chain as of November 25, a super whale sold 74.07 billion in Pepe Coin worth $1.53 million for 448.1 ETH as the price dropped recently. The same whale was recorded offloading 130.2 billion of the meme coin, worth $2.71 million, for 891 ETH over the past three days. Although this massive selling caused market tension, it’s noteworthy that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.
However, the same whale also focused on buying EIGEN, swapping 181.3 ETH for 217,348 of the Ethereum-based token over the past two days. The whale currently holds 1.608 million of the EigenLayer token, worth $4.31 million, with an 11% profit. Overall, the trade swap sparked significant optimism over the EigenLayer ecosystem’s primary token, while market watchers monitor the leading meme coin closely.
PEPE & EIGEN Prices Show Mixed Actions
While the meme coin’s price slipped, aligning with the selloff by super Pepe Coin whale, the Ethereum-based coin rose, leveraging buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.
Whereas, EIGEN price soared nearly 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain optimistic about the Ethereum-based token in light of the massive accumulation, the remaining massive PEPE holdings add a layer of intrigue to the leading meme coin’s price action ahead.
Intriguingly, a recent Pepe coin price analysis by CoinGape Media flagged that the meme coin eyes a $0.000025 target, with significant potential upside for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto’s price chart. Market watchers continue to eye both coins for future price action shifts as the broader market continues to showcase price fluxes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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