Biggest Crypto Winners Today October 10 – Quant (QNT), Battle Infinity (IBAT), Chainlink ( LINK ), Huobi Token (HT), Terra Classic (LUNC), Tron (TRX)
During the early European session, the cryptocurrency market was slightly bearish, with the global crypto market cap falling from $936 billion to $933 billion. Despite a slowdown in the crypto market, leading cryptocurrencies such as Bitcoin and Ethereum prices are experiencing choppy sessions.
McGlone and fellow market strategist Jamie Douglas Coutts shared BI’s cryptocurrency forecast for October. According to the two analysts’ predictions, bitcoin and Ethereum will outperform most assets as the economy changes.
Biggest Crypto Winners Today, October 10th
Despite the downturn in the crypto market, a few altcoins have maintained their bullish momentum. Let’s take a look.
Quant (QNT) gains 11.66%
QNT has been one of the most active coins in the cryptocurrency market for the past five months. Since the June low of $40, the price has produced eleven consecutive non-consecutive bullish weekly candlesticks.
Sibos, the largest conference in the world devoted to financial services, has also recently been a booster for QNT prices.
Several thousand people, including Quant Network executives, are expected to attend the conference hosted by SWIFT, which just announced its CBDC concepts.
The price of QNT is likely to be more volatile than usual on October 13 due to their upcoming speech.
Quant Network plans to capture a significant share of the CBDC market in the future as the only simple and secure platform that offers easy connectivity to any DLT globally.
As nations such as Australia, India and Norway announce the launch of their own CBDC programs, the company will already have the necessary know-how to handle government cryptocurrencies, thanks to joint experiments with the Bank of England on the digital pound.
Today’s live Quant price is $155.26, and the 24-hour trading volume is $94 million. In the last 24 hours, Quant is down 1.19%, and up 11.66% in the last seven days. CoinMarketCap now ranks 31st, with a market cap of $1.8 billion.
The QNT/USD pair is supported at $149, while resistance remains at $160. QNT has formed an ascending channel, which is likely to keep the coin bullish. A break above $160 could extend the $160 level to $169.
Battle Infinity (IBAT) Pumps 3.18%
Battle Infinity’s current price is $0.003098, with a 24-hour trading volume of $352K. In the last 24 hours, Battle Infinity has gained 3.18%. CoinMarketCap currently ranks #3125. After the success of IBAT, the coin is trending on coingecko.
Already, over a billion IBAT have been staked on the Battle Infinity platform, making the launch of the stake program a great success. This is good news for token holders, as it will reduce the supply of IBAT in the market, and increase the price.
With the effort initiative, the circulation amount of IBAT has been drastically reduced, as one billion IBAT is more than 35% of the total.
Since so much has already been staked, sales pressure has been reduced, and the stake program means Battle Infinity can guarantee that it can maintain a large part of its community in the long term.
Chainlink (LINK) Spikes 6.24%
Several recent good developments in the Chainlink (LINK) ecosystem have helped increase the use of the blockchain. Recently, Chainlink tweeted about its latest adoptions, which included 22 applications using five unique Chainlink services.
The current price of Chainlink is $7.65, with a 24-hour trading volume of $296 million. Chainlink has gained 0.30% in the last 24 hours. CoinMarketCap currently ranks #21, with a live market cap of $3.7 billion.
The LINK/USD pair has formed a symmetrical triangle pattern, extending an immediate resistance near $8.31. The support level for LINK remains at $6.54.
The symmetrical triangle has the potential to break out on either side at the moment, depending on the release of fundamentals. A bullish breakout above $8.31 could propel LINK to the $9.49 level. Because the RSI and MACD have entered the buy zone, the 50-day moving average is likely to keep LINK above $7.
Huobi Token (HT) is streaming 29.14% in seven days
Huobi Global’s native cryptocurrency – surged nearly 29% in the seven days after Justin Sun said he would accept an advisory role on the exchange. Tron’s founder, Justin Sun, is a mysterious owner of Huobi Global, the cryptocurrency exchange. It was made public just a week after the company announced a change in its shareholder structure.
However, a buyout rumor has been rejected by him. Sun has been reassigned to the position of global advisor. This comes after it was reported that Huobi founder Leon Li was looking to sell his majority stake for more than $1 billion, valuing the exchange at $3 billion.
In addition to receiving new funding, the company’s growth and development initiatives will be overseen by the recently established Global Advisory Board.
Huobi revealed the new entity’s formation on Sunday and immediately invited industry leaders to join. Justin Sun, the Chinese entrepreneur and founder of the TRON Foundation, was one of those people.
Following the news, Huobi gained 24% in 24 hours and is now approaching a major resistance level of $5.50. HT/USD has formed a bullish engulfing candle on the daily timeframe, indicating a strong bullish bias.
Because HT has entered the overbought zone, we may see a small bearish correction until the $4.48 level before continuing the next flight.
Terra Classic (LUNC) steady near $0.00029
Terra Classic’s current price is $0.000294, with a 24-hour trading volume of $501 million. In the last 24 hours, Terra Classic has fallen 1.56%. CoinMarketCap is currently ranked 32nd, with a market cap of $1.8 billion.
An updated burning mechanism for the Luna Classic (LUNC) token developed by cryptocurrency exchange Binance has sparked renewed interest in the token’s original Terra chain.
It demonstrates an immediate support level at $0.58855. A break below this opens up additional selling space to the $0.58855 level. The coin is supported by the 50-day moving average, which is near $0.0631764.
For now, a breakout of the immediate resistance/double top level could take TRX to $0.07157 while support remains at $0.600.
The Terra Classic jumps right into the middle of the Re-Peg proposition
After the infamous failure of the Terra ecosystem, the field of algorithmic stablecoins took a big hit (including UST). After the disastrous event, the Terra community was divided between those who favored the updated version (still known as Terra) and those who preferred the older, now defunct Terra Classic.
Although unusual for a cryptocurrency that is supposed to be stable, the price of Terra Classic USD (also known as USTC), a stablecoin, has increased by 40% in the last day. Tobias Andersen has recently submitted a proposal to relink the stablecoin, which would solve some of the problems the protocol is facing.
LUNC has technically rejected the 50-day moving average line of $0.000279 and is currently trading at 0.000294. At $0.000279, LUNC/USD has completed a 61.8% Fibonacci retracement, and candles closing above this level enhance the possibility of a bullish reversal.
The immediate resistance level for LUNC is $0.000342, which is extended by a 38.2% Fibonacci retracement. Above this, LUNC can target the 50% and 61.8% Fibonacci retracement levels at $0.000392 and $0.000440 respectively.
Tron (TRX) Spikes TRON Gains 3.78%
TRON’s current price is $0.063578, with a 24-hour trading volume of $536 million. TRON has increased by 1.59% in the last 24 hours.
CoinMarketCap now ranks 15th, with a live market cap of $5.8 billion.
Despite a 3.78% increase, the TRX token is trading sideways in a symmetrical triangle pattern.
It demonstrates an immediate support level at $0.58855. A break below this opens up additional selling space to the $0.58855 level. The coin is supported by the 50-day moving average, which is near $0.0631764.
Currently, a breakout of the immediate resistance/double top level has the potential to drive TRX to $0.07157, while support remains at $0.600.
Alternatives Coins – Tamadoge & IMPT in focus
The project’s initial currency, the IMPT token, has already raised more than 3 million after only six days of pre-sale, having sold 172 million tokens. Despite the blockchain-based carbon credit marketplace opening its auction during a weak market in bitcoin, demand for the marketplace token remained robust.
Tamadoge, a meme coin, has gained traction since its yearly low of $0.01683. OpenSea is now selling ultra-rare Tamadoge NFTs for 1 WETH. Tamadoge has risen to become the third most valuable meme coin in the cryptocurrency market.
