Crypto

The global crypto market cap dropped 3.60% to $924.65 billion, sending major cryptocurrencies trading negatively. Over the past 24 hours, the total value of all crypto traded has risen by 15.70%, to $92.50 billion. DeFi accounted for $5.03 billion in volume, or 5.44% of the global cryptocurrency market.

Stablecoin trading volume was $86.04 billion, or 93.03% of the total 24-hour volume in the cryptocurrency market.

Ripple (XRP) Up 3.79%

Ripple is one among the number of cryptocurrency coins that are top trending right now. Multiple variables are driving Ripple’s price spike. However, one key reason is the ongoing SEC legal battle with the sixth most powerful cryptocurrency. The influencer claimed that the SEC has given up its two-year battle to show XRP is a security. Both parties in the ongoing litigation filed for summary judgment over the weekend.

In another sense, Ripple and the SEC feel there is enough evidence to decide outside of a court of law. They await Judge Torres’ judgment, which will be based on material currently accessible. A legal fight that began in 2020 may be concluding shortly.

The Ripple community and Ripple Labs are hoping for a positive decision. If this occurs, XRP will no longer be regarded as security but a digital asset, as Ripple intended.

Eleanor Terrett and Charles Gasparino reported on Fox Business that former SEC official William Hinman’s meeting schedule provides a detailed look into the agency’s thinking as it began to consider how best to control the nascent cryptocurrency market.

Still, it may also lend credence to the growing belief that the SEC unfairly targeted Ripple in its crackdown.

Fox Business has obtained Hinman’s schedule for his nearly four years at the SEC, with some redactions made for privacy reasons; nonetheless, it is unclear whether or not the documents provide a comprehensive account of Hinman’s daily activities while serving as company finance director.

After Stuart Young and Andrew Forbes filed a FOIA request earlier this year, the documents were delivered to XRP investors. FOX Business claims it shows how the SEC communicated with key players in the cryptocurrency business, including Bitcoin’s mysterious creator Satoshi Nakamoto.

XRP Price Chart – Source: Tradingview

The current XRP price is $0.436772, and the 24-hour trading volume is $2,049,286,812. In the last 24 hours, XRP has gained 1.27%. CoinMarketCap now ranks #6 with a live market cap of $21,795,233,451 USD. It has a maximum quantity of 100,000,000,000 XRP coins and a circulating supply of 49,900,666,456 XRP coins.

Terra Classic (LUNC) Gains 1.31%

Despite the crypto space’s poor performance, the Terra Classic (LUNC) has extended its bullish rally and picked up additional bids on the day as Binance, a leading cryptocurrency exchange, announced that it would assist the Terra Classic community in eliminating all trading costs.

The announcement sparked a lot of excitement in the LUNC community as they try to address the massive issue of the large supply (nearly 7 trillion tokens), with some believing Binance is taking a “soft approach” before performing the full burn.

LUNC/USD Price Chart

LUNC Price Chart – Source: Tradingview

The current price of Terra Classic is 0.000285, with a 24-hour trading volume of $766,594,791. Terra Classic has risen by 1.31% in the last 24 hours. Terra currently ranks 31st in the market, with a market capitalization of $1,751,207,583. The circulating supply of LUNC coins is 6,151,072,613,161 coins, and the maximum amount is unknown.

Tamadoge (TAMA) Gets Listed on OKX

Tamadoge is a well-known cryptocurrency that has risen to become one of the top cryptocurrency gainers. Despite being a meme token inspired by Dogecoin, it provides its users with a wide range of uses and benefits. To enter the Tamaverse, where you can mint, breed, and fight your very own Tamadoge pet, all you need is Tamadoge (TAMA), the token of the Tamaverse.

Users will be able to breed, train, and battle their Tamadoge NFTs to see who can reach the top of the monthly leaderboard and mint the most doges. As time goes on, more and more augmented reality experiences are expected to be added to the Play-to-Earn options, giving our NFT the chance to interact with its Tamaverse counterparts in a fun and interactive way.

TAMA

TAMA Price Chart – Source: Tradingview

Tamadoge’s current price is $0.021307, with a 24-hour trading volume of $1,571,874. Tamadoge has decreased by 9.43% in the last 24 hours; however, it pumped more than 80% to reach a high of $0.056 upon its listing on OKX. CoinMarketCap currently ranks #2800, with total supply of 2,000,000,000.

Most of those presale buyers have already cashed out, so it’s reasonable to assume that most of the remaining holders aren’t interested in making rapid trades and instead plan to keep their coins for the long haul. TAMA could be a good opportunity to go long, especially when the price has already completed a bearish correction.

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ZCash (ZEC) Gains 2.27%

The Zcash (ZEC) coin halved its previous downward rally and surged above the $55 level, despite a bearish crypto market and a bullish US dollar. Zcash is a decentralized cryptocurrency that prioritizes privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technique, allowing network nodes to validate transactions without revealing sensitive transaction information.

Vitalik Buterin, the co-founder of Ethereum, believes that now that the Ethereum merging is complete, blockchains like Dogecoin and Zcash should use the same technique.

At the 2022 Messari Mainnet, Ryan Selkis asked Buterin whether or not all networks should use the proof-of-stake (PoS) consensus mechanism. Buterin confirmed this. The Creator of Zcash, Zooko Wilcox-O’Hearn, was there as well.

zCash Price Chart

ZCash Price Chart – Source: Tradingview

The current value of Zcash is $55.92, with a 24-hour trading volume of $57,613,019. Zcash has increased by 1.00% in the last 24 hours. CoinMarketCap currently ranks #54 with a live market cap of $859,499,713. It has a circulating supply of 15,371,350 ZEC coins and a maximum supply of 15,371,350 ZEC coins. 21,000,000 ZEC coins are available.

On the technical front, ZCASH will likely encounter immediate resistance near $56, with a bullish break of this level exposing the coin to $57. On the downside, support remains near $54 or $53.40.

Neo (NEO) on a Rise, Up 3.94%

The Neo (NEO) coin extended its early winning streak and received bids around the $8.50 mark. Neo bills itself as a rapidly expanding and evolving ecosystem that will serve as the foundation for the next generation of the internet.

NEO, which also serves as an investment asset, allows users to vote on blockchain improvements. Neo’s Smart Economy facilitates the creation of new dApps and the execution of smart contracts known as NEO Contracts.

NEO is unique and can run various programming languages on its platform. This feature is not available on other smart contract blockchains. As a result, Neo (NEO) is an excellent blockchain for carrying out various cryptocurrency projects.

NEO Price Chart

NEO Price Chart – Source: Tradingview

The current Neo price is $8.66, and the 24-hour trading volume is $37,085,647. In the last 24 hours, Neo has gained 0.33%. With a live market cap of $611,166,441, CoinMarketCap currently ranks #65. It has a circulating supply of 70,538,831 NEO coins and a maximum supply of 70,538,831 NEO coins. 100,000,000 NEO coins are available.

Neo has formed a symmetrical triangle pattern expected to support the pair near $8.42, while the downward trendline is expected to extend resistance near $8.77. Since the 50-day moving average indicates a bullish bias, bulls may look for buying opportunities, particularly if the $8.77 level is broken.

Lido DAO Slips 2.84%, Good Upside Potential

The Lido (LDO) coin has been flashing red since the start of the day, which could be attributed to the bearish crypto performance that has pushed many crypto coins into the red. Lido is a solution for Ethereum liquid staking.

Lido enables users to wager their ETH (with no minimum deposits or infrastructure maintenance) while engaging in on-chain activities such as lending to compound rewards.

The current Lido DAO price is $1.57, and the 24-hour trading volume is $30,779,245. In the last 24 hours, Lido DAO has dropped 2.75%.

LDO Price Chart

LDO Price Chart – Source: Tradingview

CoinMarketCap currently ranks #72 with a live market cap of $492,795,444. It has a circulating supply of 312,951,154 LDO coins and a maximum supply of 312,951,154 LDO coins. 1,000,000,000 LDO coins are available.

Lido (LDO) has corrected alongside Ethereum after the initial surge of the Merge-trade, and the asset is now trading in what some may call a bull flag. It provides immediate support near the $1.550 level, and LDO may find the next level of support at $1.041.

While the resistance level remains at $2.252, bullish flags typically drive strong upside movement, so keep an eye on LDO.

Chiliz (CHZ) Drops 5.04%

The Chiliz coin has been unable to extend its previous gains and has fallen to around 0.236596. Chiliz achieved solid results last week as CHZ’s price increased by 16.07%. However, this week, CHZ failed to maintain bullish momentum and fell around 5%.

This could be temporary as CHZ has good fundamentals which may underpin and drive an uptrend.

The increase in the price of CHZ can be attributed to various transactions, including the most recent one in which UFC’s MMA athletes can have contact with their fans using CHZ. As a result, Chiliz (CHZ) has made an incredible comeback.

The crypto market’s poor performance, which has caused many crypto coins to fall, could be the reason for its ongoing bearish rally. But overall, CHZ has good upside potential.

Tezos (XTZ) – Triple Bottom to Support Near $1.4095

The Tezos (XTZ) coin has continued its downward trend and is now trading below the 1.42 level. However, the reason for its ongoing bearish rally could be linked to the poor crypto market performance, which causes many crypto coins to fall.

Tezos is a blockchain network that, like Ethereum, is based on smart contracts. It aspires to provide more advanced infrastructure, which means it can evolve and improve over time without the risk of a hard fork. This has been a problem for both Bitcoin and Ethereum since their inception.

Tezos owners can vote on protocol improvement ideas proposed by Tezos developers.

XTZ Price Chart

XTZ Price Chart – Source: Tradingview

Tezos is now trading at $1.41, with a 24-hour trading volume of $6,016,276. Tezos has dropped by 0.71% in the previous 24 hours and 4.65% in the seven days. Tezos is now ranked 41st in the market, with a live market cap of $1,287,549,080. The circulating supply is 910,473,428 XTZ coins, and the maximum amount is not known.

On a daily timeframe, the triple bottom pattern is likely to provide immediate support at $1.4095. A bearish breakout below this level can start a selling trend that will last until the $1.2113 level. At the same time, resistance remains at $1.5517 or $1.7456.

Terra (LUNA) Slips by 2.83%

Terra (LUNA) is a public blockchain system based on Terra Classic. Terra intends to maintain the ecosystem with hundreds of developers working on various decentralized apps without its algorithmic stablecoin. Luna is the Terra system’s native staking token. Mining and government both use LUNA.
To compensate transaction recorders and blockchain validators for transaction fees, users stake LUNA. Binance announced that it would burn LUNC fees on spot and margin trading pairs to reduce the circulating supply of the token. The statement was made primarily about Luna Classic.
Luna Daily Price Chart

XTZ Price Chart – Source: Tradingview

Terra is now trading at $2.53 with a 24-hour trading volume of $302,371,715. Terra has fallen by 1.39% in the previous 24 hours. Terra is now ranked #99 on the market, with a live market cap of $22,940,082. The circulating supply is 127,475,474 LUNA coins, and the maximum supply is not known.

Solana (SOL) Up 6.63%

Solana has outperformed many other cryptocurrencies. Over the past 30 days, Solana’s NFT sales growth has been significantly higher than Ethereum’s. NFT sales on SOL increased by almost 100% last month, while ETHs went down. Furthermore, several other good changes occurred inside the SOL environment, each of which may have aided SOL.

Another development in the Solana ecosystem’s DeFi sphere was announced on September 27. Dappio, a yield optimizer, has introduced a whole new version of their product for use with the Solana ecosystem and the DeFi and NFTs.

Dappio’s official statement emphasized its plans to streamline the Solana platform and recruit top-tier engineers. Given the potential benefits to the Solana ecosystem, this may be seen as welcome news for the blockchain technology behind Solana.

Curiously, some on-chain metrics matched these changes and hinted at a possible increase in SOL’s price. For example, trading volume for SOL has increased significantly over the previous week.

SOL has a market value of $33.86, up 4% in the last seven days, and there’s more upside potential. Let’s keep an eye on SOL.

Maker (MKR) Spikes 14.49%

Both MakerDAO and the Maker Protocol are decentralized enterprises and applications built on the Ethereum blockchain. The Maker (MKR) governance token enables individuals to create and manage the DAI stablecoin.

Tokens issued by Maker, the company that owns DAI, are used as voting stock. However, instead of dividends, they give investors a voice in shaping the future of the Maker Protocol.

MKR Price Chart – Source: Tradingview

The current Maker price is $741.43, and the 24-hour trading volume is $31,750,978. Maker has increased by 1.99% in the last 24 hours. CoinMarketCap currently ranks #59, with a live market cap of $724,849,465. It has a circulating supply of 977,631 MKR coins and a maximum supply of 977,631 MKR coins. There are 1,005,577 MKR coins available.

On the technical front, MKR is likely to face immediate resistance near $795. The 50-day moving average indicates a bearish trend; however, the downward trendline has been violated, leading to an uptrend in MKR.

On the upside, a breakout of the $795 level could propel an uptrend to the $937 level. Consider buying above $795, and vice versa.

 

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