The recent release of several macroeconomic indicators provided some impetus and improvements that the crypto market warmly welcomed. This led to major cryptos like Bitcoin and Ethereum to rebound from their slumps that caused the majority of digital currencies – the lesser-known ones included – to follow them as well.
Here are five cryptos that are making impressive gains lately and are worth keeping an eye on in the coming days.
KLAY
The Klaytn ecosystem is a dedicated blockchain for the creation of the metaverse. Made by South Korean company Kakao, the ecosystem is built with one thing in mind; to be decentralized, giving an equal chance to the participators of the ecosystem. Klaytn also has a clear roadmap for future developments.
According to CoinGecko, Klaytn’s native token KLAY has ballooned 63% in the weekly time frame. Investors in the token can enjoy gains right now as KLAY tries to overcome resistance at $0.3182 which, if broken, could open the road for regaining October 2022 highs.
COVER ART/ILLUSTRATION VIA CRYPTOSLATE
CFX
Conflux is among the most promising cryptos and has been around since 2018, being the only crypto company that has the blessing of Beijing even as the country banned crypto products back in 2021. Recently, the network moved from using only proof-of-work to a hybrid of both proof-of-work and proof-of-stake, bringing the best of both worlds together.
CFX, the ecosystem’s native token, has exploded in value in the past few weeks with gains of over 400% in the monthly timescale. As of writing, the token is at $0.1488 with the bulls trying to settle above CFX’s April 2022 support at $0.1485. Investors and traders watching this token should monitor if the CFX settles above the mentioned support as a consolidation on this level will open up higher highs for investors.
Image: Kraken Blog
HFT
HFT is a metaverse-based token designed to be used in Hashflow’s ecosystem. Hashflow is a uniquely built decentralized exchange that does not use automatic market-makers which is industry standard in crypto exchanges. Instead, Hashflow uses a request-for-quote model, allowing more efficient pricing which gives investors and traders better prices for their coin.
HFT has been goin up in price since last month, experiencing positive growth in all time frames. According to CoinGecko, the token is up 188% in the monthly time frame with big gains also being made in the smaller time scales. With the HFT bulls targeting November 2022 price levels, investors and traders could be missing out huge gains if the momentum continues.
BLUR
The native token of the Blur NFT marketplace. This token has been released earlier this week, being airdropped to traders, care package holders, and creators. The hype surrounding BLUR is justified by recent on-chain developments that continually support positive sentiment in the market.
Ranked 101 in the top cryptos list, the token has appreciated by 33% just today. But since its release, BLUR is up 400% in the charts as the bullish momentum continues.
Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com
AGIX
Artificial intelligence has been growing in use-cases since the proliferation of machine learning. Popular AI applications like ChatGPT proved the usefulness of AI in the workplace, prompting big tech companies to invest billions in the research and development of AI.
SingularityNET’s AGIX token is riding the bullish sentiment on AI tech, with the token gaining 122% in the last month. With the token settling at its support at $0.42899, AGIX might experience a bigger upwards movement in the coming days.
(Disclaimer: It is common knowledge that the cryptos discussed in this piece have a high degree of price swing. Because of this, the possibility of suffering a financial loss as a result of investing in coins of this kind is extremely significant.)
-Featured image from Watcher Guru
Christian Encila
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