In 2024, the crypto market is experiencing transformative developments, with several key factors influencing its dynamics. The Fed’s dovish policy rates potentially increase the appeal of cryptocurrencies. Additionally, Bitcoin’s upcoming fourth halving in April is expected to increase Bitcoin scarcity and lead to price increases. The EU’s implementation of MiCA is another important development aimed at regulating the market and improving investor protection. Additionally, the US elections and the ongoing legal battle between Ripple and the SEC are expected to significantly affect market dynamics next year.
Amid these developments, some cryptocurrencies were among the biggest gainers of the week. The real question is whether this pattern will be repeated in the future. In this article, we examine whether this week’s top gainers have what it takes to maintain their performance.
The highest-earning cryptocurrencies of the week
- ScapesMania: The new and promising project is currently on pre-sale with serious excitement.
- Sei (SEI): It is rapidly gaining popularity, especially the meme coin SEIYAN.
- Internet Computer (ICP): There is an increase in price, but we face potential market corrections.
- Arbitrum (ARB): It has increasing dominance in the layer 2 space with increasing trade volume.
- Maker (MKR): The price is seeing an increase but is approaching the critical resistance level.
- Aptos (APT): The market is showing a strong recovery after the crash, but there is potential for a short-term correction.
ScapesMania: A new project entering the crypto scene
ScapesMania is a one-of-a-kind gaming ecosystem where crypto-savvy audiences join forces with a vibrant community of casual players, paving the way for significant growth. The ScapesMania community is buzzing with enthusiasm, reflecting the amount of crowd/retail contributions collected to date. from $3,680,000 It reflects on more money.
Empowering owners
ScapesMania allows participants to get exactly what they desire: while players enjoy their favorite pastime, crypto enthusiasts can benefit from the performance of the ecosystem and shape its future through the DAO, all without the need to play games. Additionally, purchasing ScapesMania tokens unlocks extra benefits. By participating in the pre-sale, you can access bonuses of up to 107% in total. You can also earn referral rewards by promoting ScapesMania to your friends. Additionally, holders can participate in staking events as well as token buyback and burn events.
verified perfection
ScapesMania’s smart contract has successfully passed review by leading security ranking companies, providing owners with peace of mind. There is an award-winning team behind ScapesMania, which has received a prestigious grant from a leading player in the blockchain industry. The team is constantly engaged with a thriving community of over 60,000 followers.
Expansion potential
ScapesMania is part of the massive $376 billion gaming industry, and the growth potential is fueled by this emerging market. Already available on major streaming platforms, ScapesMania is expected to reach major exchanges soon and negotiations are currently ongoing. Following its launch on exchange platforms, investors can expect greater liquidity and easier access to trading.
ScapeMania’s expectations
ScapesMania tokens are currently a steal and are only available per coin during pre-sale. $0.00621 is sold at a price. Last sales stage price $0.01 early adopters could potentially benefit from the ScapesMania pre-sale after it concludes. 1.6 return is expected to achieve. The innovative core concept, solid tokenomics, tier bonuses and owner benefits have the potential to further increase the value of the project. Now might be the best time to become part of the ScapesMania owners community.
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Sei (SEI): Rising star of the crypto ecosystem
Sei (SEI) has emerged as a crypto community favorite lately, with meme coin SEIYAN leading the way with a 400% gain this past week. The Sei (SEI) network has more than $5.5 million locked in decentralized applications, with trading service Astroport holding the majority. SEILOR tokens of Kryptonite, the network’s liquid staking protocol, also gained 80%, indicating increased user interest. The growth of the ecosystem is also evidenced by the significant increase in open positions in Sei (SEI) futures, indicating an increase in trading interest.
The price of Sei (SEI) is trending upwards, driven by the increasing popularity of meme coins and the influence of the broader ecosystem. The increase in open interest in futures indicates bullish market sentiment towards Sei (SEI), with investors showing intense interest in the token’s future prospects. The future looks promising for Sei (SEI) as its ecosystem continues to expand and attract more users. However, the market is volatile, and while current trends are positive, investors need to be wary of possible corrections. The major upgrade, which is expected to launch the network in the first half of 2024, could further strengthen its position in the market if successful.
Internet Computer (ICP): Potential contender for the top 10
Internet Computer (ICP) has had a remarkable performance recently, with its price rising over 40% in the last seven days. The increase in market cap has positioned it as the 16th largest crypto. Despite the price increase, there is a dominant downward trend in the market and various indicators point to potential selling pressure. Internet Computer (ICP) price has increased significantly in the past month, with an increase of 170%. An increase in trading volume was also seen, which typically indicates a bullish signal. However, the Relative Strength Index (RSI) is in the overbought territory, which could lead to increased selling pressure and potentially the end of the bull rally.
While Internet Computer (ICP) is showing impressive growth, the overbought RSI and potential selling pressure are creating challenges. If market sentiment changes, it could lead to a price correction. However, if Internet Computer (ICP) continues its upward trend and overcomes these hurdles, it can climb higher in the market rankings.
Arbitrum (ARB): Dominant force among Layer-2s
Arbitrum (ARB) strengthened its dominance in the layer 2 (L2) space with a significant increase in Total Value Locked (TVL) and trading volume. Arbitrum (ARB) volume has nearly doubled recently to over $2 billion, indicating a high level of trading activity and interest in the token. The price of Arbitrum (ARB) has seen a significant growth of over 30% in the last three days. The increase in trading volume and TVL indicates a bullish trend towards Arbitrum (ARB). However, investors need to be careful as the market is inherently volatile.
Arbitrum (ARB)’s current trajectory is promising, and its dominance in the L2 space is likely to continue. However, a rapid increase in price and volume may cause a correction in the market. The network’s ability to sustain growth and resolve scalability issues will be crucial to its future success.
Maker (MKR): Navigating market volatility
Maker (MKR) experienced a significant reversal that led to a 50% increase in its price. However, historical trends suggest that Maker could face increasing selling pressure at this resistance level, potentially leading to another correction. Maker’s (MKR) price has seen a significant increase but is approaching a resistance level that has historically led to corrections. Market sentiment appears cautious due to the potential for both upside and downside movement.
Maker’s (MKR) future depends on its ability to overcome the resistance level and continue its upward trend. While the ascending channel pattern indicates a positive outlook, volatility and potential corrections in the market create challenges.
Aptos (APT): Resilient in turbulent times
Aptos (APT) has made a strong recovery following the recent market crash, outshining other leading altcoins. Blockchain has seen an increase in activity, with a significant increase in user transactions and active accounts. The total value locked (TVL) in Aptos has also shown exponential growth, nearly doubling in recent months. Aptos (APT) price rebounded from a strong support level and is up over 19.1% from the previous rate. However, the RSI level is close to the overbought zone, indicating a potential correction near $11.
Aptos (APT) shows resistance and a strong recovery, while the near-overbought RSI level indicates potential short-term corrections. The continued growth in TVL and user engagement is a positive sign, but the inherent volatility of the market remains an issue.
Conclusion
In 2024, the crypto market stands out with important developments that shape its course. The expected approval of the Bitcoin ETF, the FED’s dovish policy rates, Bitcoin’s fourth halving, and the EU’s MiCA regulations are the key factors affecting the market. These developments, along with the US elections and the Ripple-SEC legal battle, create a dynamic environment for cryptocurrencies.
In this environment, some cryptocurrencies were among the biggest gainers of the week. Not every project looks poised to maintain momentum, but some have significant potential value; ScapesMania is perhaps the best example.
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