The global crypto market capitalization has gained 0.25% to $1.06 trillion in the last 24 hours. This increase underscores the continuing momentum and interest in the digital asset space. It is a follow-up on the market’s steady rise and our previous report.
In the last 24 hours, the total trading volume in the cryptocurrency market reached a substantial $18.69 billion, reflecting a 1.11% increase. This surge in trading activity suggests a growing appetite for crypto assets among traders and investors alike.
Decentralized finance continues to carve out its niche in the crypto market, with a total trading volume of $2.1 billion. This figure accounts for an impressive 11.21% of the entire crypto market’s 24-hour volume, highlighting the increasing popularity of DeFi platforms and protocols.
Stablecoins also seized a substantial share of the market. Currently, they boast a staggering $16.49 billion in 24-hour trading volume, constituting a remarkable 88.25% of the total crypto market volume for the day.
Bitcoin continues to maintain its position as a dominant force in the market, with a current dominance rate of 49.01%. This marks a slight but notable increase of 0.08% over the day.
Asian equities experienced a decline, while the US dollar maintained its strength early on Monday as investors anticipated a week brimming with crucial central bank meetings. The US Federal Reserve and the Bank of Japan have the most pivotal meetings. These meetings will be closely monitored for their impact on the global monetary policy outlook.
S&P 500 futures exhibited a modest 0.2% rise, while Nasdaq futures increased by 0.1%.
Next Cryptocurrency to Explode
Positive sentiment permeated the Asian markets last week, prompted by news of increased policy support from Beijing and stronger-than-expected Chinese economic data. These developments indicated that the world’s second-largest economy might gradually emerge from a months-long economic slowdown.
1. Launchpad XYZ (LPX)
Launchpad XYZ is building a comprehensive AI-powered Web3 platform to assist investors in making informed decisions. The current presale of its native token, LPX, is attracting the attention of cryptocurrency traders.
With approximately one hundred new cryptocurrencies emerging daily and thousands already existing in the market, selecting the right one to invest in can be a daunting task. This often results in experienced investors making most investments, leaving limited opportunities for beginners to succeed substantially.
We’ve built #LaunchpadXYZ for tomorrow’s trading demands. Are you ready? 🚀
Join our Telegram community and see the amazing results for yourselves
— Launchpad.xyz (@launchpadlpx) September 17, 2023
Launchpad XYZ is committed to democratizing the crypto space by providing essential information to both experts and newcomers. At its core, the platform seeks to simplify the crypto landscape, offering an all-encompassing gateway to a range of Web3 services, including non-fungible tokens (NFTs) and AI-empowered trading. The project’s development team aims to demystify Web3 by offering users a user-friendly interface and a wealth of readily available information.
At Launchpad XYZ, users will gain insights into practical methods and decision-making frameworks, granting them full control over their trades. No longer will they have to rely on Twitter or Telegram groups for trading decisions. With Launchpad XYZ, users can make informed choices based on realistic analysis rather than relying on potentially manipulative information from others.
All the valuable features mentioned in the Launchpad XYZ platform can be accessed through LPX tokens currently available in the presale. With over $1.7 million already raised, the presale is progressing rapidly. Investors are encouraged to make the most of the remaining presale period, as exciting developments are on the horizon. LPX has also been rightly marked as the next cryptocurrency to explode.
Investors can anticipate the LPX token being listed on reputable exchanges shortly, likely increasing prices. Following this phase, the Launchpad feed, token directory, metaverse library, NFT directory, and gaming hub will be seamlessly integrated into the platform for users to enjoy. By the end of this year, the Launchpad XYZ team plans to launch a decentralized exchange and presale directory and offer users educational resources through Launchpad.
In the upcoming year, features such as a trading terminal, AI search, and Launchpad Quotient will be rolled out, with subsequent developments including an NFT DEX and a gaming hub. The Launchpad XYZ roadmap is set to unfold gradually, delivering on all the promised features that investors eagerly anticipate. Considering these features, it becomes evident why investing during the presale phase can yield significant benefits.
Visit Launchpad XYZ.
2. Chainlink (LINK)
In the past 24 hours, Chainlink wallets have executed substantial token transfers across various platforms, reigniting discussions about the implications of these digital asset movements.
During this timeframe, Chainlink wallets moved 18.75 million LINK tokens, equivalent to approximately $119 million. Of this, 15.7 million LINK tokens, worth around $100 million, were transferred to Binance, while 3.05 million LINK tokens, valued at approximately $19 million, were moved to a multi-signature wallet identified as 0xD50f. This movement mirrors a similar transfer on March 4th, involving roughly $95 million worth of LINK tokens sent to Binance.
Tokenized real-world assets (RWAs) are just getting started, but the adoption rate is getting exponentially faster.
— Chainlink (@chainlink) September 17, 2023
On-chain analysis firm LookOnChain has pointed out that designated wallets have consistently transferred LINK tokens to Binance every quarter since August 2022, amounting to 71.8 million LINK tokens, valued at approximately $446 million.
The injection of LINK tokens into circulation has raised concerns about its potential impact on the token’s price, which has seen a 5.78% increase over the past day.
Some positive indicators have emerged despite potential concerns about Chainlink’s long-term price trajectory and recent LINK token movements. Chainlink has experienced significant network growth, and notable whale addresses have received over 4 million LINK tokens within ten days, as highlighted by BeInCrypto’s Head of Global News, Ali Martinez.
This growing enthusiasm may be attributed to Chainlink’s strategic partnerships with traditional finance institutions. The company, renowned for its Oracle services, successfully conducted tokenization tests in collaboration with SWIFT, partnering with prominent banking giants such as BNY Mellon, BNP Paribas, Euroclear, and Lloyds Banking Group. The Australia and New Zealand Banking Group (ANZ) also recently utilized Chainlink’s cross-chain interoperability protocol to test its A$DC stablecoin, initially scheduled for launch in March 2022.
3. ApeCoin (APE)
ApeCoin (APE) is a decentralized project that draws inspiration from the Bored Ape Yacht Club (APE) NFT collection, with its origins deeply intertwined with the world of NFTs. ApeCoin was conceived to serve a vital role within the APE ecosystem, endowing it with remarkable functionality.
As a governance and utility token within this ecosystem, ApeCoin is pivotal in empowering and incentivizing the ApeCoin DAO (decentralized autonomous organization). In its capacity as a governance token, ApeCoin holders can actively engage in an open and permissionless governance process. They also can vote on proposals, granting them a voice in shaping the future of the DAO.
ApeCoin’s real-world applications and vital foundational attributes position it as a compelling investment choice, particularly in anticipation of the next bullish market cycle. Furthermore, its resilience within the current turbulent crypto market suggests it is well-positioned for significant growth when the bull market gains momentum.
We’re providing weekly updates to keep you in the loop on what’s happening in the ApeCoin DAO and Governance Working Group (GWG)!
What to expect:
🎙 Community Highlights
🦍 GWG Updates
🧱 AIP Implementation News
📅 DAO Community Calendar
— ApeCoin (@apecoin) September 13, 2023
Despite the specific travails of the NFT market, the APE token has risen by 4.44% to $1.14 in the last 24 hours. The growth indicates a measure of hope that investors may be expecting. The renewed APE purchase is a strategic holding in anticipation of the next bull run.
4. Oasis Network (ROSE)
Over the past few days, the ROSE coin of the Oasis Network has seen a notable recovery. Despite facing challenges in the market, the announcement of its involvement in creating a decentralized price prediction application, along with its presence at the Berlin Blockchain Week, has garnered increased attention.
Oasis Labs, the parent company of the Oasis Network, has previously collaborated with Meta, the owner of Facebook, on AI and fairness initiatives, sparking hopes of further collaborations in the future.
Regarding short-term price predictions, CoinCodex forecasted that the Oasis Network’s ROSE coin would dip to $0.0373 by September 20 before rebounding to $0.0444 by October 15. The technical analysis on the website remained neutral, with 14 indicators signaling bullish trends and 13 indicating bearish ones.
By December, CaptainAltCoin predicted a decline to $0.0296 for Oasis Network’s ROSE coin. In contrast, DigitalCoinPrice suggested a rise to $0.0827 by the end of the year, while PricePrediction.net anticipated a potential value of $0.057 for ROSE in 2023.
We’re deep diving into the first confidential, multichain DEX being built on Oasis!
Join us with @illuminexswap to learn about the team and vision behind the platform, providing private, permission-less, MEV-free trading for all of Web3
Set a reminder:https://t.co/4sEjTbf5Rj
— Oasis Network (@OasisProtocol) September 16, 2023
Looking further into the future, DigitalCoinPrice projected that ROSE would trade at $0.14 in two years. PricePrediction.net offered a slightly lower estimate of $0.12; CaptainAltCoin placed it at $0.0784 by 2025.
For a more long-term perspective, PricePrediction.net envisioned the coin reaching $0.80 by 2030, while DigitalCoinPrice expected it to trade at $0.41. However, CaptainAltCoin held a pessimistic outlook, suggesting that by 2030, the Oasis Network’s ROSE coin could become virtually worthless, termed a “dead coin.”
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