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 also be making waves in its presale as buyers regain their urge for food for speculative altcoins.
With costs throughout crypto belongings on the rise, some buyers are starting to surprise if this might mark the start of the subsequent bull cycle.
Bitcoin on Rollercoaster Journey After False ETF Approval Rumors
It’s been a loopy 24 hours for Bitcoin holders, with the coin’s worth experiencing a excessive stage of volatility.
Since Sunday afternoon, BTC has risen over 4% – but was up by virtually 12% at one level.
Bitcoin reversed these positive aspects after BlackRock revealed that its utility for a spot BTC ETF was nonetheless underneath assessment.
Earlier within the day, rumours unfold that BlackRock had been cleared by the SEC to launch its ETF, sparking a pointy rally.
Nonetheless, these rumours proved false, prompting the BTC value to drop again down and erase a few of its earlier positive aspects.
Although the information turned out to be untimely, it underscores the potential influence an precise spot BTC ETF approval might have on the coin’s value.
For now, merchants stay on edge amidst continued volatility, with over $100 million in shorts being liquidated as a result of false ETF approval information.
Solana Surges on FTX Staking Information as Bulls Take Management
The Solana value can also be seeing an uptick, rising over 7% previously 24 hours and hitting the $23 stage.
Investor sentiment was buoyed after the FTX chapter property was revealed to be staking over 5.5 million SOL tokens, signalling robust 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.
Nonetheless, SOL is now going through resistance round $24, the place the token struggled through the first week of October.
If the worth can break above this stage, it might 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 powerful bullish development that might propel the token greater 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 challenge seeing important momentum is the brand new gaming meme coin Meme Kombat (MK), at present in its presale section.
Regardless of launching lower than one month in the past, Meme Kombat has already raised over $540,000 as buyers flock to safe MK tokens earlier than the platform’s official launch.
A key purpose for this early curiosity is Meme Kombat’s distinctive use circumstances, 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 12 months.
This distinctive mixture of gaming, wagering, and staking offers a number of methods for MK holders to probably revenue.
Notably, 50% of the whole MK provide has been put aside for presale members, with early adopters in a position to get entangled for simply $0.125 per token.
An additional 10% of the token provide is earmarked to supply DEX liquidity – making certain a secure buying and selling setting as soon as MK debuts on Uniswap following the presale’s conclusion.
Given the challenge’s substantial utility and tokenomics, it’s no shock that high-profile crypto influencers like Michael Wrubel have just lately endorsed Meme Kombat.
MK can also be ranked as one of many high upcoming ICOs on ICOBench, including additional credibility to its early promise.
buyers can purchase MK tokens immediately via memekombat.io utilizing both ETH or USDT.
