The crypto market has seen an impressive surge over the past few days, with coins looking to stage a comeback after giving off lackluster performances for weeks. However, why have markets surged recently, and how can investors prepare better?
FTX Saga Wears Off
For the past month, the giant looming over the entire crypto industry has been the collapse of FTX. The company, which was the second-largest crypto exchange by trading volume at its peak, went bankrupt in less than a week after its main competitor, Binance, announced the sale of more than $500 million worth of its native FTX Token (FTT).
The selloff led to a massive run on FTX, with the exchange scrambling to pay investors back and its FTT token also performing terribly. In less than a week, the exchange ran into a massive liquidity crunch that left it unable to meet redemptions and ultimately forced it to shut down.
FTX’s collapse has led to a contagion effect that has so far affected over ten companies in the crypto market, and more companies could be on the way.
Nevertheless, the saga is quickly becoming old news. While new information continues to emerge, investors appear ready to move on and plan for the future, resulting in a new spike in coin prices.
Dollar Continues Its Slide
A major reason for the current market rise is the declining value of the U.S. dollar. The global reserve currency has had a relatively tough time recently, with its value eventually erasing massive gains this year alone.
At press time, the U.S. dollar index (DXY), which measures the greenback’s performance against a basket of other major global currencies, currently trades at $104.8. This is still more than a 10% increase from the asset’s levels at the start of the year, but it also represents a 7.14% from the asset’s levels in September.
The dollar has continued to move inversely to Bitcoin. A drop in the asset’s value is sure to benefit cryptocurrencies.
Hope For Interest Rate Reduction
Over the past few months, the U.S. government has been working to slow down inflation in the country and get the economy under control. The Federal Reserve’s primary tool for this has been interest rate hikes, which are designed to reduce the amount of disposable money in the hands of investors.
The strategy has started to bear fruit. Inflation numbers for October came in at 0.4% higher than September and better than most investors expected. With the inflation rate dropping, there is hope that the Fed will loosen its interest rate policies at the Federal Open Market Committee (FOMC) meeting by next week.
What Coins to Buy?
As the market appears to be enjoying some relief, it’s understandable that investors would be looking for the perfect assets to purchase. And right now, there are several coins that present optimal earning opportunities.
Dash 2 Trade
Investors can purchase D2T – the native token for the Dash 2 Trade platform, which provides access to research and analytics for investors looking to enter the market. Dash 2 Trade is betting on a market recovery that will lead to an influx of investors in the market, and it is ready to provide them with all the tools they need to analyze coins and optimize their profitability.
Dash 2 Trade is developing a full-fledged trading intel system that combines features like social sentiment research, backtesting, and social trading with new elements not seen elsewhere in the shape of its much-awaited presale dashboard feature.
With D2T, users will be able to make payments for its services. The digital asset is in its final stage of the presale, having already raised over $9.2 million. D2T has a total supply of 1 billion tokens, of which 26.25% are available for public purchase during the presale. Only 30% of the tokens are still available for purchase.
0% Tax – Forever
✔️D2T stands behind the idea that value should come from the project and not from people trading the token
✔️Tax will never be charged to our community
One more reason to invest in $D2T ⬇️ https://t.co/ExvBBjKIU6 pic.twitter.com/ZIYQR0J5kT
— Dash 2 Trade (@dash2_trade) December 9, 2022
When the presale concludes, Dash 2 Trade will have three major centralized exchanges lined up for initial exchange offerings (IEOs), with LBank and BitMart already agreeing to list D2T.
Impact Project (IMPT)
Another asset that is highly attractive right now is IMPT. The asset is linked with the Impact Project, which allows individuals and businesses to purchase carbon credits and sell them easily. The Impact Project also will enable investors to fund eco-sustainability projects worldwide, showing that you can make gains in crypto and still care for the environment.
IMPT is specifically designed to address one of the most difficult challenges in combating climate change; how to promote the widespread adoption of carbon credits by consumers, corporations, and other groups.
The retailers who have already joined the IMPT affiliate shopping program include e-commerce giant Amazon, well-known tech names such as Samsung and Microsoft, fashion outlets River Island and Harry Brown, Tripadvisor, Dyson, AEG, Bloomingdales, Macy’s, Dominos, Lego, and many more.
Since 1850, human activities have driven up CO2 concentrations by 48%
♻️ We have the plan to save the planet!
Join the #IMPT presale to earn carbon credits and decrease CO2 emissions while investing in the future of renewable energy! ⬇️
— IMPT.io (@IMPT_token) December 9, 2022
IMPT’s presale has raised $16.9 million in less than three months, showing massive investor interest.
On December 14th, the IMPT token will be listed on three exchanges, LBank, Changelly, and Uniswap, for $0.0253, 10% higher than the current presale price.
RIA, the native token for the Calvaria: Duels of Eternity blockchain game, is the next big thing in crypto gaming. Calvaria combines the metaverse with non fungible token (NFT) trading cards, allowing players to purchase these tokens and compete for supremacy. The game is notable for its commitment to the free-to-play model, as well as its availability around the world.
With RIA, players can purchase NFTs in Calvaria’s marketplace. They can also stake the coin to earn more units and participate in game governance. The asset is currently on presale and has already raised over $2.38 million amid a bear market.
Yesterday, an anonymous crypto whale invested $97,500 in the RIA token, signaling significant investor interest.
A huge buy just came in! Calvaria attracts the eyesGet on the presale while it's still available#calvariagang #presale #cryptocurrency #whalealert pic.twitter.com/uahI91oRbK
— Calvaria: Last Stage Presale is Live! ✨ (@CalvariaP2E) December 8, 2022
With the final presale stage almost completed, this is another asset that investors want to get in on quickly.
Calvaria developers have also confirmed that they will list the digital asset on LBank and MEXC as soon as the presale is over.
For fans of the metaverse, TARO is the best coin to buy at the moment. The asset powers RobotEra, which takes players to a metaverse where they can purchase NFTs and help rebuild a planet. Players have multiple ways to earn revenues from the game, including building structures and monetizing their assets in the metaverse.
Give full play to your imagination & create your own land
You have no limits while creating your own continent in #RobotEra
You will be able to mine, construct, collect energy, play, and much more!
Learn more ⬇️https://t.co/UJ3inomU89 pic.twitter.com/VvM3Baj2cc
— RobotEra (@robotera_io) December 9, 2022
TARO is available on presale and has raised over $465,000 in less than two months. Although the presale is still in its early stages, this is one coin to keep an eye on.
Lucky Block (LBLOCK)
Finally, we have LBLOCK. The digital asset is the native token for Lucky Block, a competition and games platform.
Lucky Block’s developers recently launched a live casino & sportsbook feature that will allow players to enjoy access to over 100 games. Users will be able to bet online in a safe and dependable environment, generate income, and transact freely through the casino and sportsbook.
Today, we are pleased to announce the debut of Lucky Block Casino and Sportsbook.
Our New full-featured service includes all of your favourite gambling games, including slots, poker, live casino, table games and many more!
— Lucky Block (@luckyblockcoin) November 29, 2022
The platform is tipped to be the next big thing in the blockchain gaming space, marking a significant use case and growth potential for LBLOCK.
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Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
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