The crypto markets remain in wait-and-see mode as investors come to grips with the collapse of FTX and the possivle.
The next few weeks could determine if a recovery will grace the year-end celebrations or should more bleeding be expected.
Crypto Market Responds to the Binance Industry Recovery Fund
Binance has been at the center of the FTX debacle since the day the CEO Changpeng Zhao (CZ) made public the intent to liquidate the $580 million the exchange was holding in the FTT token. This announcement sent panic waves across the market, with investors rushing to withdraw their funds from FTX – culminating in a liquidity crunch.
FTX suspended withdrawals before starting bankruptcy proceedings under Chapter 11 of the United States Law. This means that no funds would come out of the troubled exchange, perhaps until investigations conclude.
On Tuesday Binance launched an industry recovery fund seeking “to reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis.”
Following this announcement, the market jumped significantly, with Bitcoin trading above $17,000, while Ethereum hit a weekly high of $1,284. While CZ’s move is a good gesture, it is not enough to repair the damage caused by FTX.
Nonetheless, investors can take advantage of crypto projects with solid fundamentals. Some of the tokens highlighted have their presales underway, while the rest could provide a gateway to significant gains in the short term. This article could be helpful to investors looking to diversify their portfolios.
Dash 2 Trade (D2T)
Dash 2 Trade is an ERC-20 token powering upcoming crypto analytics and social trading platform, making it easy for investors to make informed decisions. Some of the key features on this platform include trading signals that provide buy/sell opportunities in the market and social sentiment, as well as on-chain analysis for traders to spot trending coins.
Users on Dash 2 Trade will have access to cutting-edge industry tools that allow them to build strategies, share ideas with others (social trading) and adopt new strategies.
Participating in crypto presales will no longer be a preserve of the few who get access to information since Dash 2 Trade provides a bespoke scoring system for upcoming projects in the industry. Crypto listing alerts will give investors a competitive edge. Remember, new listings, especially on big exchanges like Binance and Coinbase, often trigger price rallies.
D2T is the token at the center of the Dash 2 Trade ecosystem. The token will fuel the investors’ trading journeys by making sharing of ideas possible so they can take advantage of all other platform features.
Dash 2 Trade presale is underway and is offering one of the most interesting opportunities. It is important to consider Dash 2 Trade an all-in-one terminal where investors have access to accurate and timely market data to test trading strategies that allow them to take advantage of the opportunities in the market.
D2T currently sells for 0.0513 USDT, but this price will go up to 0.0533 USDT in the next presale stage.
Visit Dash 2 Trade Presale Now
Trust Wallet (TWT)
The Trust Wallet (TWT) token was the knight in shining armor as the crypto dealt with shockwaves from the FTX collapse. In less than four days – from November 10, TWT exploded 171% to trade at $2.76.
According to one of our analysts, TWT’s performance is greatly attributed to the rising demand for wallet storage in the wake of the FTX crash. Users are beginning to take self-custody, especially with the realization that the people in crypto are to blame for the poor decision made with investor funds – keeping in mind the fall of Celsius and Voyager early this year.
Trust is a wallet developed by Binance to allow users to store their assets away from centralized exchanges. This way, users have full control of their holdings at all times. The only major risks of using wallets like Trust are losing private keys or phishing attacks.
TWTUSD four-hour chart
TWT now trades at $2.05 after a minor correction from its most recent high of $2.76. Price analysis reveals the growing risk of a longer retracement, especially with the Moving Average Convergence (MACD) indicator presenting a sell signal.
On the downside, traders can target profits at $1.64, $1.43 and $1.31. However, holding above $2.00 could keep the uptrend intact, with bullish traders eying the return to $2.76 and possibly a subsequent move to $3.50.
Built on the Ethereum PoS blockchain is IMPT, a carbon credit marketplace where users can earn and trade NFT-based carbon offsets, which can also be obtained by shopping with a wide range of eco-friendly retailers.
Since carbon credits are now tokenized as NFTs, it is possible to track them more transparently, which helps to address several issues that have previously plagued the carbon market.
The IMPT platform will impact projects and people. There are numerous ways to accumulate IMPT points. Everyone participating in the IMPT program can track their impact level and receive an IMPT score. Different IMPT levels and ranks exist.
IMPT’s presale has raised more than $12.8 million a few weeks after launch, making it one of the most popular crypto sales.
Visit IMPT Presale Now.
Quant price jumps 12% as crypto markets recover
Quant price is halfway through recouping the losses suffered during the FTX saga. Support at $98 was instrumental in preventing QNT from going down the rabbit hole. Its initial recovery above $100 immediately flipped QNT’s technical outlook from bearish to bullish, which set the pace for the run-up marginally above $120.
QNTUSD four-hour chart
The 50-day Exponential Moving Average (EMA) (in blue) resistance at $122.63 must come out of the way if bulls desire to push Quant price to $130 and $135, respectively.
Despite resistance at the 50-day EMA, the MACD dons a buy signal in addition to nearly crossing above the mean line (0.00) and into the positive region. With this bullish outlook intact, QNT could quickly close the gap to $130 and $135 ahead of a possible rally to the 200-day SMA (in purple) at $147.
RIA powers the Calvaria card game formally referred to as Calvaria: Duels of Eternity and is another project currently in the presale stages.
RIA might be the next major cryptocurrency to buy for blockchain gaming enthusiasts. This digital asset offers several promising possibilities that are raising interest among investors.
As aforementioned, RIA is the native token for Calvaria. The game, which takes place in a metaverse with an afterlife theme, aims to aid traders in buying non-fungible token (NFT) trading cards.
Players are tasked with building strategies to help them win these battles directly. RIA is the token that makes NFT purchases possible through an in-app NFT marketplace.
Calvaria intends to become more than just a fun tool to amuse gamers. By turning gamers into powerful ambassadors for this cause, it aims to leverage gamification technologies to popularize and accelerate the acceptance of cryptocurrencies. For its card collectible game, the platform provides two-dual modes. There are options for both play-to-earn (P2E) and free-to-play (F2P) games.
The F2P aims to attract people who are not interested in cryptocurrencies. Players must put together the best card deck and engage in multiplayer battles within the game, including ordinary gameplay. These users can still obtain actual goods and services and receive financial aid and job opportunities.
Due to the Calvaria ecosystem’s Decentralized Autonomous Organization (DAO), the RIA token will also support staking. Users can therefore earn extra tokens by simply holding them.
Like D2T, RIA saw tremendous success during its presale period and is now approaching its fifth round. With 84% completed, it has already raised more than $1.7 million.
Visit Calvaria Presale Now.