Market
Polymarket Considers Token Launch to Sustain Trading Volumes
Polymarket, the decentralized prediction market platform, is signaling potential plans for a token launch following its remarkable performance during the US elections.
This development is expected to usher the platform into the next phase of its evolution.
How Token Launch Could Help Polymarket
On social media platform X, the crypto community noted that the platform recently shared a cryptic message suggesting future token airdrops for active traders.
“We predict future drops. Users who reinvest their winnings into other markets may be eligible for boosted future rewards and drops,” the platform reportedly stated.
Built on the Ethereum Layer-2 network Polygon, Polymarket has established itself as a breakthrough crypto product this year. Its election markets gained significant attention from mainstream media outlets, including Bloomberg. This helped to establish the platform as a reliable source for election insights and sentiments surrounding the candidates.
Polymarket’s success is evident in its trading volumes. According to Dune Analytics data, October saw a record-breaking volume of more than $1 billion in trades, while the first ten days of November added another $657 million. Daily active users also reached unprecedented levels during the election period.
Market analysts suggest that launching a token now could help Polymarket maintain momentum beyond the election cycle. This strategy could encourage continued trading activity through the promise of future rewards. Earlier reports had indicated that Polymarket had considered a $50 million fundraising round alongside a token launch in September.
However, this success has attracted regulatory attention. US Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has indicated that the commission is monitoring offshore election-betting platforms that serve US customers. Additionally, France’s National Gaming Authority (ANJ) is investigating Polymarket’s compliance with French gambling laws and considering blocking access to the platform.
Despite these regulatory challenges, Polymarket’s potential token launch could represent a strategic move to ensure long-term sustainability. While specific details about the token remain speculative, its implementation could enhance platform functionality and user engagement. This development marks a critical juncture in Polymarket’s evolution from a prediction market platform to a more comprehensive crypto ecosystem.
The timing of this potential token launch coincides with Polymarket’s peak popularity, suggesting a calculated effort to transform election-driven momentum into a lasting market presence. So, the platform must now balance this expansion with increasing regulatory scrutiny in key markets.
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
Bitcoin briefly hits $90k on Coinbase. Will it surge to $100k soon?
Key takeaways
- BTC briefly hit the $90,100 level, reaching a new all-time high.
- Vantard’s presale is now approaching $850k
BTC briefly touches the $90k level
Bitcoin has been rallying since Donald Trump won the United States presidential elections last week. The leading cryptocurrency by market cap briefly hit the $90,100 level on Coinbase before retracing below the $88k mark.
At press time, Bitcoin’s price stands at $87,869. There is a massive sell order for Bitcoin around the $90k region and market analysts believe that BTC could range between $90k-$100k in the near term.
What is Vantard (VTARD)?
The ongoing rally has seen over $700 billion enter the cryptocurrency market in the last seven days. The growing demand for Bitcoin and other major cryptocurrencies is spilling to upcoming altcoins as investors look to diversify their investments.
Vantard is one of the projects attracting investor interest. It is the world’s first Solana meme coin index and would help investors leverage the growing $45 billion memecoin market.
In its whitepaper, the team said its native $VTARD token holders can redeem tokens against the Treasury for their proportional percentage of the underlying assets. Vantard will hold a portfolio of top Solana-based meme coins.
The project will enable investors to broaden their cryptocurrency investment portfolio. This feature is crucial, given the growing importance of meme coins to the cryptocurrency ecosystem.
Vantard would allow investors to easily leverage the ‘Memecoin Supercycle’ as it delivers exciting new projects to their portfolios. Furthermore, the Vantard index will bridge a significant gap in the market as meme coins have outperformed every other crypto sector in recent years.
Read more about the Vantard project here.
Vantard’s presale approaches $850k
The Vantard presale is approaching a significant milestone. The team has raised nearly $820k so far. The seed round comes shortly after the project raised $500k in its pre-seed funding round.
In this current stage, Vantard is going for $0.00013 per coin, and the price is set to increase to $0.00014 in the next stage. The $VTARD tokens are available to investors via the Vantard website. Accepted forms of payment include USDC, USDT, and Ethereum (ETH) coins.
Vantard is the first meme coin index to track meme coins on the Solana blockchain. This is crucial given Solana’s position as the leading blockchain for meme coins and DeFi protocols.
Meme coins have a combined market cap of over $40 billion, which is expected to increase in the coming months and years.
Vantard eliminates a major challenge for investors by picking out the best meme coin projects on the Solana blockchain. Thus giving investors exposure to the best projects and ensuring they don’t invest in scam meme coins. The index lets users ‘Ride the Memecoin Supercycle.’
Should you buy the $VTARD token now?
The ideal times to buy tokens are during the presale and bear market. With Vantard currently in its presale, investors can invest in this project before it launches on crypto exchanges.
The $VTARD token is sold for $0.00013 per coin. However, the price will increase to $0.00014 per coin in the next stage.
This year, the crypto market welcomed spot Bitcoin and Ethereum ETFs, attracting billions of dollars in institutional investment. Meme coins are attracting interest from investors, and memecoin indices could become very attractive.
As the first Solana meme coin index, Vantard could become one of the top-performing cryptocurrencies in this bullish cycle.
Market
Render (RNDR) Price Targets $9 After Positive Momentum Signals
Render’s (RNDR) price has shown notable gains, up 28% in the last month. This positions it as the third-largest artificial intelligence coin by market cap, behind FET and TAO.
Recent indicators point to a continuation of strong bullish sentiment, with increasing social activity and favorable technical patterns. This surge in both social dominance and price performance suggests growing investor interest in RNDR.
RNDR Is Just Behind FET On Social Dominance
Render (RNDR) has climbed to the second position in terms of social dominance among the top 5 AI coins, with its social presence almost doubling over the past seven days.
This surge in social activity reflects growing interest and discussions around RNDR, which have likely contributed to its recent price performance.
During the same period, RNDR’s price has risen nearly 40%, positioning it as the second-biggest winner among the top AI coins, just behind AIOZ Network, which saw a 73% increase.
RNDR has outperformed other prominent AI projects like TAO, FET, and WLD, highlighting its strong market momentum.
RNDR BBTrend Is Almost Reaching 5
Render BBTrend has remained positive since November 8, reaching a monthly high of 12.7 on November 10. BBTrend, or Bollinger Band Trend, is an indicator that measures momentum in relation to Bollinger Bands.
A positive BBTrend suggests that bullish momentum is driving the asset’s price, while negative values indicate a bearish trend.
After peaking at 12.7, RNDR BBTrend dropped to 1.17, showing that the bullish momentum had faded significantly. However, it has since begun recovering and is now at 4.83, suggesting a renewed but moderate increase in positive momentum.
This recovery could indicate that buying interest is getting even stronger, and if the current positive sentiment persists, the trend may continue to build strength.
RNDR Price Prediction: Can RNDR Surpass $9 Soon?
RNDR’s EMA lines are indicating a strong bullish sentiment, with the price positioned above all of the exponential moving averages.
Additionally, the short-term EMAs are stacked above the long-term ones, which confirms that the current momentum is positive and buyers are in control. This setup suggests that the uptrend could continue if market conditions remain supportive.
If the current bullish trend persists, RNDR price could soon test the next resistance level at $7.94. Breaking above that resistance might push the price even higher, targeting $9.46, which would represent a 34% increase. That would consolidate Render as a top 3 artificial intelligence coin.
However, if the uptrend loses momentum and reverses, RNDR could fall back to the support at $5.83. Should that level fail to hold, the price could drop further to $5.03, signaling a deeper correction.
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
Aptos (APT) Price Momentum: Will the Uptrend Continue?
Aptos (APT) price has been experiencing a strong rally, surging 47% in the past seven days. The recent momentum has been supported by positive indicators, such as bullish EMA lines and favorable Ichimoku signals, which point to continued buying interest.
However, while APT remains in an upward trend, the recent pullback in RSI suggests that the asset may be moving towards a more balanced state.
APT Is In The Neutral Stage
APT’s RSI is currently at 62, down from over 80 just a day ago. This decline indicates that the recent intense buying pressure has eased, allowing APT to move out of the overbought zone.
While bullish momentum still persists, the drop suggests that the buying intensity has cooled off, reducing the immediate risk of a sharp correction.
The RSI is a momentum indicator that ranges from 0 to 100. It is used to gauge whether an asset is overbought or oversold. Typically, values above 70 signal overbought conditions, while below 30 suggest oversold levels.
With APT’s RSI now at 62, following a 47.13% increase in its price the last week, it shows that the asset maintains positive momentum without being overextended. This could indicate a more sustainable uptrend as buying enthusiasm moderates.
Aptos Ichimoku Cloud Shows a Bullish Setup
The Ichimoku Cloud chart for Aptos (APT) shows a strong bullish trend, with the price clearly above the cloud. This indicates that APT is in a favorable upward momentum, supported by positive market sentiment.
The Tenkan-sen (blue line) is positioned above the Kijun-sen (red line), which confirms that short-term momentum is strong and driving the price higher.
Additionally, the cloud itself (formed by the leading span lines) is green and expanding, suggesting a continuation of the uptrend.
The overall alignment of the Ichimoku components points to a healthy bullish trend, with buyers currently in control and price action maintaining a positive trajectory.
APT Price Prediction: A Potential 44% Rise?
APT’s EMA lines indicate a strong bullish setting, with the short-term lines positioned above the long-term lines. This alignment shows that buying momentum is dominant and that APT price is likely to continue trending upwards.
The current EMA structure supports the idea that buyers are in control and that the uptrend may persist as long as these conditions hold.
If this bullish momentum continues, APT could soon test the next significant resistance level at $14.42. A successful break above that could push the price even higher, potentially reaching $17.89, marking a 44% rise and the highest level since April.
However, if the RSI surpasses 70, signaling overbought conditions, a downtrend could form. In that scenario, APT price might first test the support at $12.05, and if that level fails, the price could fall further to $8.88.
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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