On January 22, major cryptocurrencies such as Bitcoin and Ethereum are on the rise, having jumped almost 10% in the past seven days. Bitcoin ends up at $22,900, up 0.8% from yesterday as Ethereum retreats 1.3% to $1,630.
Bitcoin has seen a significant rally and some possible influencing factors for this phenomenon include the activity of large investors, purchases by public and institutional institutions, and the ability of cryptocurrencies to disrupt traditional financial services.
Stability in the cryptocurrency market is returning after a long period of volatility, and many people are now optimistic about the future of Bitcoin and other currencies.
Analyst firm Santiment reported that, of the more than $1 billion accumulation that has occurred in the last 15 days, the majority has come from transactions of 1 to 1000 BTC. In addition, tokens held by whales with 1,000 to 10,000 BTC in their holdings account for 83% of the accumulation achieved over the period.
The main winners and losers of the cryptocurrency market
Aptos (APT), Optimism (OP) and ApeCoin (APE) were the top performers over the past 24 hours. APT's price rose more than 38% to $12.67, while OP's price rose almost 20% to $2.30. Meanwhile, APE gained just under 15% to trade at $5.79.
Nexo (NEXO) fell around 0.25% to $0.8299 in the past 24 hours. Pax Dollar (USDP) is down more than 0.28% at around $1, and Frax Share (FXS) is down around 1.75% at $10.50. However, FXS has gained over 59% in the last seven days.
The price of bitcoin
Bitcoin is currently worth $22,900, with a daily trading volume of $35 billion. Bitcoin's market capitalization has climbed 5% in the past two days to $446 billion.
On the daily timeframe, Bitcoin produced a bullish engulfing candle, indicating the possibility of a continuation of the uptrend. Since Bitcoin just broke the $22,750 barrier, it can now target $24,000 or $24,550.
On the downside, Bitcoin's immediate support is $22,500, and a further drop below this level could expose it to a price of $21,550.
The price of Ethereum
In the past 24 hours, the price of Ethereum was $1,631, with a trading volume of $8 billion. The ETH/USD pair encountered substantial resistance near $1,680 on January 21 and fell to gain support at the $1,610 level.
On the 4-hour time frame, the ETH/USD pair formed a bullish channel, which signals the chances of a continuation of the bullish trend for ETH in the medium term.
On the upside, increased demand may help push Ethereum above resistance at the $1,680 level and drive its price towards $1,750. Going the other way, a break down of support at $1,600 could extend the selling trend to the next support at $1,560.
3 cryptos to watch out for during their presale
Investing in cryptos can be rewarding for investors, who will be able to collect tokens before their official release. Here are some cryptos that are making headlines these days.
Fight Out (FGHT)
The Fight Out (FGHT) platform works the same way as a personal sports trainer, except that the FGHT token is the reward given for bouts of exercise. All activities are recorded and can be used to improve the statistics of his metaverse avatar. The ability to earn FGHT tokens adds an extra incentive for people to stay healthy and exercise while enjoying the benefits of blockchain technology.
Despite the general lack of liquidity in the cryptocurrency market, Fight Out was successful and attracted investors. Thanks to its token sale, which started last week, it has already raised over $3 million. The current selling price is 60.06 FGHT for $1 (FGHT can be purchased with ETH or USDT) for another 5 days and 20 hours before increasing as the sale progresses.
C+Charge (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. Its aim, which should start in the second quarter of next year, is to increase access to carbon credits by rewarding consumers who charge their electric vehicles at its terminals.
According to forecasters, the project has potential since it will benefit from the expected significant development of the carbon credit market. Coherent Market Insights estimates the market will be worth over $2.4 trillion by 2027, up from around $211.5 billion in 2019.
For C+Charge, the possibility of earning carbon credits is an additional incentive to accelerate the already rapid transition to electric vehicles. The Voluntary Credit Market (VCM) is expected to reach $100 billion by 2030, and analysts believe startups like C+Charge will play a big role in that expansion. So far, the presale has so far raised $335,000.
Meta Masters Guild (MEMAG)
Today marks the start of presale for Meta Masters Guild, a mobile-focused gaming guild that will create a mix of web3 games and play-to-earn games. Its Ethereum-based games will include playable NFTs as well as incentives that can be redeemed for MEMAG, the company's native token, which can then be staked and sold. It will be available in seven stages, the first of which now offers a MEMAG for $0.007.
Even before MEMAG's IPO, this price will gradually rise to $0.023, an increase of 228.5% for early investors. Meta Masters Guild is expected to grow rapidly when the platform's initial game (Meta Kart Racers) is released in the second quarter of this year.
Don't miss this opportunity: Stage 2 of the sale has started and MEMAG has already collected $553,390 out of a total of $1,120,000.
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