The crypto market is seeing a broad rally right now, with Bitcoin (BTC) surging previous $28,000 and Solana (SOL) gaining over 6%.
A brand new meme coin, Meme Kombat (MK), can be making waves in its presale as traders regain their urge for food for speculative altcoins.
With costs throughout crypto property on the rise, some traders are starting to surprise if this might mark the start of the subsequent bull cycle.
Bitcoin on Rollercoaster Trip After False ETF Approval Rumors
It’s been a loopy 24 hours for Bitcoin holders, with the coin’s worth experiencing a excessive degree of volatility.
Since Sunday afternoon, BTC has risen over 4% – but was up by virtually 12% at one level.
Bitcoin reversed these positive factors after BlackRock revealed that its utility for a spot BTC ETF was nonetheless below assessment.
Earlier within the day, rumours unfold that BlackRock had been cleared by the SEC to launch its ETF, sparking a pointy rally.
Nevertheless, these rumours proved false, prompting the BTC value to drop again down and erase a few of its earlier positive factors.
Although the information turned out to be untimely, it underscores the potential influence an precise spot BTC ETF approval may have on the coin’s value.
For now, merchants stay on edge amidst continued volatility, with over $100 million in shorts being liquidated because of the false ETF approval information.
Solana Surges on FTX Staking Information as Bulls Take Management
The Solana value can be seeing an uptick, rising over 7% previously 24 hours and hitting the $23 degree.
Investor sentiment was buoyed after the FTX chapter property was revealed to be staking over 5.5 million SOL tokens, signalling sturdy institutional perception within the community.
SOL had been rangebound between $21 and $22 since Tuesday earlier than right now’s bullish breakout.
The technicals additionally level to additional upside, with SOL rejecting the 50-day Exponential Shifting Common (EMA) as assist and breaking above the 200-day EMA.
Nevertheless, SOL is now dealing with resistance round $24, the place the token struggled through the first week of October.
If the value can break above this degree, it may pave the way in which for SOL to return to August’s highs.
With SOL buying and selling quantity up a whopping 258% previously 24 hours, all indicators point out a robust bullish pattern that would propel the token larger within the coming days.
New Gaming Coin Meme Kombat Sees Presale Frenzy Amid Crypto Market Rally
As main cryptos like Bitcoin and Solana proceed pumping, one other mission seeing vital momentum is the brand new gaming meme coin Meme Kombat (MK), at present in its presale part.
Regardless of launching lower than one month in the past, Meme Kombat has already raised over $540,000 as traders flock to safe MK tokens earlier than the platform’s official launch.
A key cause for this early curiosity is Meme Kombat’s distinctive use instances, which permit token holders to stake their MK and wager on AI-powered digital battles between well-known meme characters.
Moreover, presale consumers can instantly start staking their tokens to earn yields as excessive as 112% per yr.
This distinctive mixture of gaming, wagering, and staking gives a number of methods for MK holders to probably revenue.
Notably, 50% of the overall MK provide has been put aside for presale members, with early adopters in a position to become involved for simply $0.125 per token.
An additional 10% of the token provide is earmarked to offer DEX liquidity – making certain a steady buying and selling atmosphere as soon as MK debuts on Uniswap following the presale’s conclusion.
Given the mission’s substantial utility and tokenomics, it’s no shock that high-profile crypto influencers like Michael Wrubel have lately endorsed Meme Kombat.
MK can be ranked as one of many high upcoming ICOs on ICOBench, including additional credibility to its early promise.
traders can purchase MK tokens straight by way of memekombat.io utilizing both ETH or USDT.