As of 5th June 2024, Binance Coin formed a new all-time high above the $700 mark boosting investors’ confidence in the altcoin. Following this feat, some other altcoins are expected to follow suit in creating new ATHs, and this includes KangaMoon and Solana, among others. Let us find out why.
Due to its strong presale performance, KangaMoon has attracted investors attention as the altcoin has been creating waves in the market. It has carved out a distinct niche by fusing SocialFi components with GameFi's play-to-earn concept, surpassing expectations, and hitting new benchmarks.
In essence, KangaMoon presents the "Kangaverse," an ecosystem where users can engage with one another and with similar interests, play entertaining challenges and tournaments with a battle theme, and win prizes. Its native token, KANG, would serve as an in-game currency and reward incentive on the blockchain, providing utility.
Surprisingly, KangaMoon is on CoinMarketCap and CoinGecko, and in Q2, it is expected to be listed on BitMart. It is designed to take advantage of the $88.6 billion play-to-earn market in NFT Gaming by 2028. Experts anticipate further rallies for this promising altcoin given the current state of the market.
Remarkably, the KANG presale has generated more than $7.9 million in revenue to date, with plans to surpass $8 million soon. In addition, its price increased by 400%, from $0.005 to $0.025. Experts predict that the altcoin will continue to gain momentum and that it will reach $1 by year's end. KangaMoon is therefore one of the best altcoins to buy in 2024.
The Binance Coin price has crossed the $700 mark and formed a new ATH. According to recent remarks made by Nick Ruck, head of growth at BitU, a Bitcoin yield project, the Binance Coin price is rising as a result of years of token burns and token lock initiatives for their Launchpad program. In addition, he mentioned that the Binance Coin protocols have fostered a sizable and active user base and increased campaigns and activities as a result of lower gas prices.
Following Binance Coin's new ATH, the projects in the Binance Coin Chain (BNB Chain) ecosystem have all seen increases in activity, token prices, and trading volume. The most recent data from CoinGecko indicates that over the previous day, trading volumes for tokens based on the Binance Coin Chain (BNB Chain) increased by 132%.
The Solana coin has held steady above $165 over the past day, exhibiting a good increase above 4%. Although funds and attention were directed toward Ethereum DeFi and spot markets due to the approval of the spot Ethereum ETF, the subsequent abatement of this frenzy has resulted in a renewed demand for Solana since the beginning of June. As Solana establishes strong support above $165, bullish momentum is making a comeback in the market.
The significant rise in leveraged long positions taken this week by speculative traders is a sign of this recovery. The Solana coin is currently trading at $172.88, but if this bullish mood holds, it may see another breakout towards $180. On the other hand, in the event of a downtrend, Solana is probably going to find strong short-term support at $155, as evident on the Solana price chart, where substantial demand is anticipated to prevent large liquidations.
A wide range of altcoins are available as investment options in the larger cryptocurrency market, and each altcoin has special qualities that make it desirable for traders and cryptocurrency enthusiasts. KangaMoon presents a unique approach with the fusion of SocialFi and GameFi components. Given its current presale success and projections to rally by 100X in the coming months, KANG is one of the best altcoins to buy right now.
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