DeFi
Donald Trump supports crypto as top challenge coins gather
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Amid Donald Trump’s support for crypto, Bitcoin, Ethereum, Avalanche, Solana and KangaMoon are gaining momentum as optimism grows in the market.
Amid Donald Trump’s announcement that if he wins the 2024 US presidential election, he will support the future of crypto, crypto enthusiasts remain optimistic as Bitcoin, Ethereum, Avalanche, Solana and the one of the new KangaMoon challenge coins is gaining momentum. Let’s find out more.
KangaMoon: one of the best challenge coins
The interest in KangaMoon (KANG) is starting to grow among cryptocurrency traders and challenge enthusiasts. To put things into perspective, more than 32,000 people have registered on the KangaMoon platform, which combines the features of a play-to-earn and social interaction protocol. The KangaMoon project design has proven to be unique, lucrative for players and entertaining for its community.
Currently, the KANG token is selling for $0.025 per token in the bonus phase of its presale, a 400% price increase since the presale began. Experts also predict that the KANG presale will likely generate 700% more value before the token launches. Although the exact launch date for KANG is still unknown, the project has started preparing for its planned launch in the second quarter.
Additionally, the BitMart exchange said that KANG will be listed soon. The token is expected to continue to gain popularity on other Tier 1 CEXs, such as Binance and OKX. The KANG token is also expected to launch on the Uniswap exchange. Meanwhile, KangaMoon has already been listed on CoinMarketCap and CoinGecko.
For $0.025, traders can now purchase the KANG presale. By positioning yourself for KangaMoon’s potential 700% price gain, buying the token now could prove lucrative. All things considered, KANG is one of the most promising challenge coins to buy, especially considering its enormous potential to become a top cryptocurrency very soon.
Bitcoin trading volume increases following Donald Trump’s promise
During his speech at the Libertarian National Convention, Donald Trump once again demonstrated his support for cryptocurrency companies, saying he was very positive and open-minded. He criticized Biden’s attempts to destroy Bitcoin and cryptocurrency and promised he I will never let him die. This comes at a time when President Biden is being criticized for his anti-crypto stance.
Trump has vigorously supported cryptocurrencies to win over young voters who are excited about them. After receiving millions of Trump trading cards on the NFT market, he recently began accepting cryptocurrency contributions for his campaign. Meanwhile, Bitcoin trading volume and the price of Bitcoin have increased as holders remain optimistic. Bitcoin price is currently trading above the $68,000 mark.
Ethereum price aims for new ATH
Ethereum price nears $4,000. This increase coincides with speculation that the recent approval of an ETF could trigger a large-scale price rally. Ethereum was trading at $3,897 at the time of writing. With a 64% increase, Ethereum’s 24-hour trading volume now stands at $17.8 billion. Currently, the altcoin market capitalization is approximately $468.4 billion.
The total value locked in Ethereum’s Layer 2 networks is nearing an all-time high of $47 billion, also indicating strong financial activity. With Ethereum’s trading volume increasing, cryptocurrency investors and key Ethereum stakeholders are optimistic about the possible increase in institutional investment that could accompany the recent ETF approvals.
Avalanche Price Chart Analysis
Looking at the six-month Avalanche price chart, one can observe a turbulent journey marked by steep highs and lows. This volatility demonstrates how vulnerable Avalanche coin is to general market trends and how dependent it is on particular advancements in its ecosystem. Avalanche has shown a trend of rising prices and equally strong corrections over the past few months.
The altcoin currently appears to be stabilizing at $38 after a recent decline from April highs. Avalanche coin could continue to rise if it can hold support at the $35 pivot level, especially if a larger rally in the cryptocurrency market takes place. But a major resistance is pending at $48 and $53levels that Avalanche has tested and failed to breach in recent months.
Solana Price Chart Analysis
Solana (SOL), valued at $74.5 billion and ranked fifth by market capitalization, broke through the $164.50 resistance level after more than a month of consolidation between $116.00 and 164.50 $. It started its journey towards $216 with this breakout. Solana coin once again encountered selling pressure after breaking above the $164.50 resistance level, reaching a high of $189, as seen on the Solana price chart.
Meanwhile, Solana coin saw an increase of 21.58% over the last 30 days, starting at $136 and is currently trading at $166 per token. Additionally, Solana is back above the $164.50 support level following selling pressure from the $189 level. Solana could see its decline accelerate if it re-enters the $116.00 to $164.50 range. But if Solana continues to close each day above the $164.50 support, the price will likely move towards the $216 resistance.
Conclusion
Among the most promising challenge coins, KangaMoon has already attracted the interest of many investors. Additionally, due to KangaMoon’s current low market cap, it is cheaper to inflate the token’s price. As a result, experts predict that once KANG is listed on BitMart, its price will exceed $1.
To find out more, visit Kangamoon website or join them telegram community.
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