The global crypto market shows signs of a retracement, losing 1.27% of its value in the past 24 hours. The global market cap is $1.2 trillion at 7:14 am EST. But despite this slight market retracement in the last 24 hours, some altcoins still record price gains.
SEI, XDC, BONE, Sonik, and yPredict are the top gainers today, August 16. These altcoins rely on the strength of their community, developmental activities, and positive investor sentiments to succeed.
Find out the latest developments in their ecosystems.
Sei (SEI) – Layer 1 Blockchain for Trading Solutions
SEI’s price is $0.256 at 7:42 am EST, depicting a 29.5% surge in its price in the last 24 hours. Sei brings speed to the industry with transaction finality in less than one second.
According to PRNewswire, on August 15, Sei Labs announced a successful Testnet alpha phase with over 400 million transactions processed.
On August 15, Binance announced that SEI is now available for trading. Also, Bybit exchange listed SEI on their spot exchange, enabling traders to share in the prize pool of 90,000 USDT.
Huobi and Kraken jumped on the trend of launching SEI for trading on their platform. Kraken exchange listed SEI for trading on August 10, anticipating the launch on August 15.
📣 $SEI is officially listed on #Bybit Spot now! @SeiNetwork
Withdrawal available at 10:00AM, August 16, 2023 UTC
Trade to earn a share of 90,000 USDT prize pool!
Join event here: https://t.co/qY0sFtjXgH
📈 Start trading now: https://t.co/PJEXf2BxBC#TheCryptoArk #BybitSpot pic.twitter.com/qV292cOnlb
— Bybit (@Bybit_Official) August 15, 2023
SEI Under Selling Pressure
SEI is in a downtrend on the 15-minute time frame due to a spike in selling pressure as investors seek to cash in on the price surge today. It found support at $0.227 as it attempts to break above the $0.241 resistance level.
However, the green candle forming on the 15-mins chart indicates buyers are in an accumulation phase. The RSI value is 43.06 in the neutral zone between the overbought region of 70 and the oversold region of 30. It implies that the buyers and sellers are evenly matched in the market today.
SEI is trading in the lower region of the Donchian Channel (DC) due to rising sell pressure for the token. Also, the Moving Average Convergence/Divergence (MACD) is below its signal line, reflecting the bearish sentiment echoed by the red Histogram bars on the 15-minute time frame.
On the daily chart, SEI shows a more positive price outlook from August 15, forming higher highs on the chart. It will likely hold onto its gains in the coming days before retracement for a consolidation phase.
XDC Network (XDC) – The Hybrid Blockchain with Transparency
XDC is trading at $0.0607 with a 1.4% gain on its price in the last 24 hours. However, its price is down by 4.0% in the last seven days. XDC Network announced an upcoming Web3 conference in India powered by the network. Users can attend and interact with other developers and newcomers at the event.
We’re thrilled to announce that @web3conf_india – organized by @Girlscript1 is now Powered by XDC Network!
We invite you to visit our booth, GBR#03, where the XDC Network team will be eagerly waiting to connect with you. Whether you’re a seasoned developer or just starting to… pic.twitter.com/jwDOHpSIIU
— XinFin (@XinFin_Official) August 8, 2023
According to the announcement, it will occur between August 11-14, 2023, at the Novotel Goa Dona Silvis Resort, India. These events will likely boost community interactions and Web3 developments in India and beyond. Also, it might have a positive effect on XDC’s price.
Also, XDC Network is a co-sponsor of the ETHToronto conference ongoing in Canada, with several individuals from different regions in the world turning up for the event.
We are here, #ETHToronto!
Come to Booth 25 & experience the #XDCNetwork 🌐#WeAreXDC #BudItOnXDC #Toronto #Canada pic.twitter.com/QquM4cDoIR
— XDC Foundation (@XDCFoundation) August 15, 2023
Bears Return Force A Decline
XDC snapped out of the previous descending wedge pattern to enter a sideways trend on the daily chart. The $0.602 support level prevented further decline and might serve as a launchpad for a possible rally.
However, the bears at the $0.687 resistance level continue to limit their price gains. XDC trades above its 50-day and 200-day SMA despite its bear struggle.
The RSI value confirms the sideways trend moving in the neutral zone with a value of 50.14. The indicator points towards the oversold region, indicating a possible price decline.
Also, the MACD has dropped below its signal line, with red Histogram bars forming to confirm the rising bearish pressure from the bears in the asset. XDC will likely retrace in the coming days if the bears continue to mount pressure on its price.
Bone (BONE) – A Decentralized Exchange Governance Token
BONE is trading at $1.44, with a price drop of 5.8% in the past 24 hours. Also, its price is down by 12.7% in the last seven days. BONE closely mirrors the price action of SHIB since it also operates in the Shiba Inu ecosystem. SHIB is down by 5.8% at 9:59 am EST posting a similar decline.
On August 9, Shiba Inu developers announced that Bill Pay, a fintech company, enables customers to pay mortgages, rent, personal loans, and other payments using SHIB and other cryptocurrencies.
Users can conveniently process payments on the app using cryptocurrency.
Paying bills in the US just got an upgrade! @BitPay now lets you pay for Mortgage & Rent, Credit Cards, Car Payments, Personal Loans, and more using $SHIB 🏡💸 Say goodbye to the mundane and hello to the world of crypto convenience. Check it out: https://t.co/1BYHHkls8A 🚀🌙…
— Shib (@Shibtoken) August 9, 2023
Also, the Shiba Inu merchandise received a facelift with the launch of new Hoodies as a limited edition. These hoodies come in 7 designs and over 20 colors, fully authenticated by NFC technology. The merchandise is available at the Shiba Inu virtual store.
The anticipation for the launch of Shibarium has continued to drive speculation in the Shiba Inu community. A member of Shiba Inu’s marketing team, Lucie SHIB, stated that Shibarium is open for anyone to build on similar to Ethereum or Polygon.
Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regrettably, this also provides an avenue for bad actors to develop scam dApps and rug-pull tokens, among other things.
The mere incorporation of the term “Shibarium” or “Shib” in… pic.twitter.com/AiNqORi7J2
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 16, 2023
Lucie noted that the feature also opens up the ecosystem to flawed individuals to develop scam dApps and rug-pull tokens, among others. The marketer encouraged users to do proper research to determine credibility.
FUD levels rise on the actual launch date for Shibarium. However, Shibarium lead developer Shytoshi Kusama hinted at an update on Shibarium’s status by August 16. The uncertainty hurt the ecosystem despite the assurances, dropping BONE’s price.
BONE Experiencing Price Volatility
BONE is under pressure from the bears to shed its gains on the daily chart relying on the $1.425 support level to sustain its price. The bears at the $1.519 resistance level intend to force a price correction as sellers dominate the market.
BONE is in the lower region of the Bollinger Bands, forming a Gravestone Doji candlestick which might signal a continuation of the downtrend. The Stochastic Oscillator has a value of 33.46 for the fast RSI (green), close to the oversold region of 20, affirming the bearish sentiment for the token.
Also, the MACD dropping below its signal line confirms that the bears are intent on forcing further retreat to the oversold region. BONE will likely retreat in the coming days before recovering from the price decline.
Sonik (SONIK) –The Lightning Fast Memecoin
Sonik Coin is a new crypto project aiming to break records and become the fastest cryptocurrency to achieve a $100 million market cap value. It belongs to the meme coin family, drawing inspiration from the Sonic the Hedgehog character, a popular TV series, and Gaming character with worldwide acclaim.
Sonik coin relies on the fun-themed meme coin experience to reward its users. However, its stake-to-earn feature makes it adds extra value to its users. Users who deposit their $SONIK tokens in a staking smart contract receive rewards for contributing to ecosystem security and value.
🚀 Welcome to the world of $SONIK! 🦔💨
Get ready to experience the fastest #Crypto meme coin in action! 🔥
🌐 Join our #Presale now and be part of #MemeCoin history!
👉https://t.co/NkNhQrZ41q #Sonik #AltGem #Altcoin pic.twitter.com/BsnUlKCZfZ
— SONIK COIN (@Sonikcoin) August 3, 2023
40% of the total supply is allocated to users as staking rewards with over 1.25 billion tokens staked and an APY of 1908% that reduces as more tokens are staked in the contract. The rewards will be distributed over four years and calculated based on the number of tokens in the pool.
This staking helps preserve the tokens’ overall value, preventing sudden dumps noticed on other projects without a staking feature.
Sonik Presales and Tokenomics
SONIK tokens are on presale, with each token valued at $0.000014. The presale target amount is approximately $2.098 million, and the affordable price presents investors with opportunities to accumulate the tokens at affordable rates.
Over 33,500 USDT is raised from the presale goal, a testament to rising investor interest. The total token supply is approximately 299.79 billion, similar to the value of the speed of light. It symbolized the project’s desire to dominate the crypto scene shortly.
Exciting Roadmap
Sonik Coin gathered a community of crypto enthusiasts to drive its project to success relying on its exciting three-stage roadmap. The first stage covers token staking, development, Sonik meme creation, and the Sonik presale. The second stage features the staking launch, marketing campaign deployment, and Sonik boom sellout.
The third stage will focus on community building, staking rewards, and the drive to achieve a market cap of $100 million. Sonik Coin provokes memories from the Sonik the Hedgehog media franchise, a Japanese video game series.
It will likely receive massive attention from the Asian communities, although Sonic enjoys worldwide acclaim. Overall, Sonic Coin is poised to conquer the crypto space with its lightning plan to dominate the crypto market.
Crypto analyst and YouTube vlogger Jacob Crypto Bury shares more insights in his YouTube video on this meme coin.
yPredict (YPRED) – The Traders Assistant
yPredict is an elite platform providing traders with helpful insights to conquer the volatility of the crypto market. It relies on the power of Artificial Intelligence (AI) to provide its users with helpful analytics and signals to make the most of a volatile crypto market.
yPredict offers users analytics with an automated chart pattern recognition feature and transactional data analysis. yPredict’s AI is not limited to crypto trading but also finds application in the stock market.
Users also enjoy auto indicators the AI selects based on past performance to save time and ensure the best trading strategies.
Additionally, developers can earn passive income on the platform by trading their predictive models on the yPredict marketplace. These Machine Learning (ML) experts offer subscription-based models to users who rely on such to profit in trading.
🚀 The future of crypto predictions is here with yPredict! 🤖 This AI-powered platform has already raised an impressive $3.4M in its presale so far.
💰 With its cutting-edge technology, transparency through blockchain, and community-driven approach, yPredict is setting a new… pic.twitter.com/yPSvwOOAg0
— yPredict.ai (@yPredict_ai) August 14, 2023
Rather than relying on low-quality signals on social media, users can switch to yPredict and benefit from its high level of accuracy. Furthermore, there is an affordable AI-backed content solution to assist workflow with an intelligent editor, keyword suggestions, and data scoring.
It provides users with quality assessment using aggregate score calculation and AI-powered suggestions to create engaging and optimized content.
The backlink estimator is rare to find on any other analytical platform. It accurately predicts backlink count, metrics, and information to aid users in making data-driven decisions. This estimator keeps the platform’s users ahead of their competition.
YPRED Presales
YPRED is the token powering this platform and is on presale with over $3.47 million raised out of its goal of $4.5 million. Each YRED token is worth $0.1, with the next stage set to move the price to $0.11. YPRED will list at $0.12, yielding over 11% paper rewards for early investors.
With over 20,000 users signed up to its waitlist, the token will likely set exciting records in the crypto space. The target market cap at listing is approximately 6.5 million, with the total supply capped at 100 million.
Why Buy YPRED?
The YPRED token has a 10-100x potential due to its vast utility in crypto and trading. Also, token holders receive up to 45% quarterly staking rewards from the 10% share of tokens paid on each new subscription.
The staking reward beats the industry average of 5-10% APY. Also, it qualifies token holders for huge discounts on prediction platforms, analytical tools, and the marketplace.
Also, holders get access to yPredict analytics base models built by the top 1% of AI developers. Comparatively, these models will sell at a minimum of $500 for none token holders.
Additionally, platform payments are made with YPRED tokens increasing their overall value. yPredict launch is imminent when AI relevance and dependence are rising globally. It is close to its last presale stage; therefore, investors must act fast to take advantage of the present price before a price increase.
Conclusion
The top gainers benefit from positive activities in the ecosystem and increased trading activity. Although the crypto market is volatile, it offers investors opportunities to profit with advanced trading strategies. Also, similar to initial coin offerings (ICOs), some projects offer their tokens on presale at low prices, encouraging early accumulation for rewards.
Despite the rewards of trading cryptocurrencies, investors should note that they carry significant risks and can deviate from past price behavior. Proper research combined with risk management techniques such as lot size management and trailing stop loss are necessary for successful trading.
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