Image credit: Fareed Mindalano/Playground AI
After experiencing a notable 4.49% gain yesterday, Bitcoin (BTC) is now back trading at $27,665, down 1.48% over the past day.
However, according to a recent report from cryptocurrency analysis firm Glassnode, on-chain data indicates that Bitcoin could soon break through $28,000.
In the last 24 hours, Bitcoin reached $28,462.73, but volatility prevented it from breaking above $28,000.
With the cryptocurrency market gasping for Bitcoin’s next big move, which cryptocurrency will deliver 1,000% profit in 2023?
Glassnode identifies metrics to watch, such as unrealized gains and losses for short-term holders. Recently 1.0, now 2.6.
The report states that Bitcoin’s trajectory depends on long-term supply trends. Long-term holders usually buy bitcoin, sometimes less.
Equilibrium is currently overdone and investment is likely to increase in the medium to long term.
Whether Bitcoin can sustain its rally depends on global events. Interest rate increases in the US, UK and EU are correlated and steady with stock prices.
Similar investor strategies for stocks and cryptocurrencies often imply similar market behavior. For $28,000 support and a strong rally, Bitcoin needs to grow independently from equities.
Whether or not Bitcoin reaches the $28,000 level depends on overcoming major hurdles such as rate hikes and correlation with traditional stock markets.
If it can build its own momentum independent of external factors affecting investor sentiment, the premier digital currency would be well-positioned to establish a new support level of $28,000.
While a short-term correction is inevitable, the long-term outlook for Bitcoin remains very bullish, especially as institutional interest grows and mainstream adoption increases.
But whatever happens with Bitcoin, the major cryptocurrencies have already reaped most of its gains, while other select cryptocurrencies still have the potential for exponential growth. there is the fact that Cryptocurrencies such as WSM and ECOTERRA could surge over 1000% in 2023.
Wall Street memes, meme coins and NFTs could go viral
The cryptocurrency market is always full of surprises, and the impressive launch of the Wall Street Meme ($WSM) token on May 26th was not the first time. Due to strong demand, its value has already exceeded the original coin issue price.
The project successfully sold $100,000 worth of $WSM tokens in just minutes after announcing the start of the pre-sale, raising over $1 million to date.
Last year, the Wall Street Meme team minted and sold 10,000 limited-edition non-fungible tokens (NFTs) in less than an hour, making a hefty profit.
An established social media following of over 1 million users fueled a quick sell-out, demonstrating the power of connected communities in cryptocurrency.
The goal of the $WSM token development is to surpass Dogecoin, Shiba Inu, and all other meme coins and cement its position as a leading community-driven cryptocurrency.
They believe that its widespread influence and enthusiastic following in the financial and investment community will propel the popularity and success of the $WSM token into the mainstream.
With the launch of the NFT collection in 2021, the Wall Street Meme team is confident in the potential of $WSM as it has already proven its ability to leverage social connections for financial gain.
They hope the token will be listed on top cryptocurrency exchanges like Binance, where it will gain more name recognition and interest.
The Wall Street meme project began in early 2021 with the “meme stock mania”, when a group of retail investors teamed up to boost stock prices and squeeze hedge funds that were shorting stocks.
This movement demonstrated the power of dispersed individuals to be united by a common goal. The creators now aim to inject that spirit into the crypto space through the $WSM token.
The researchers describe the Wall Street meme as “tokenizing the movement” of individuals seeking to become economically empowered.
They believe that buying $WSM tokens is a way for people to symbolically push back against organizations and governments that generally put the interests of whales and Wall Street elites ahead of the general public.
The team sees cryptocurrencies as a means of democratizing finance and opening opportunities to a wider range of participants.
The hype and buzzwords commonly used to promote digital assets are noticeably lacking in the team’s message, but the project’s vision and goals shine through.
In line with our goal of empowering individuals, 100% of the $WSM token supply will be allocated to the community. Teams have not reserved any portion of the tokens for themselves.
Half of the supply will be available for purchase in the presale, 30% will be distributed to token holders as rewards, and 10% each will provide liquidity on centralized and decentralized exchanges.
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Green Web3 Project Ecoterra Raises $4.35 Million With Leading Brands Onboard
Ecoterra, a green cryptocurrency project that tackles the world’s waste problem through technology, has built its sustainability mission by incorporating major beverage companies into its recycling reward system.
Brands like Coca-Cola, Carlsberg, and Evian have been added to Ecoterra’s database of scannable products, so you can now earn cryptocurrency by scanning and recycling bottles.
This upgrade demonstrates how the Web3 project and corporate branding can work together to benefit the environment.
The new brand integration will significantly strengthen Ecoterra’s existing framework of promoting eco-friendly behavior through its recycle-to-earn model.
The project uses blockchain technology to facilitate recycling, offset carbon footprint and track environmental impact.
Ecoterra’s progress and promising vision have resonated with the cryptocurrency community. The ongoing token presale has so far raised over $4.45 million, demonstrating support for the Web3 project focused on sustainability and climate change solutions.
With the pre-sale token price as low as $0.0085 and due to be listed on major exchanges at $0.01 later this year, interested participants have a chance to reap significant profits if the project can live up to its potential. .
Ecoterra finds eco-friendly users and corporate collaborators who strive to demonstrate environmental responsibility.
This initiative will enable individuals and businesses to track and offset their environmental impact.
The much-anticipated impact-traceable profile promises to attract sustainability-seeking businesses by providing visibility into green initiatives and potentially fostering consumer confidence.
The $ECOTERRA token powers the ecoterra platform and provides unique utilities. Future staking programs will allow token holders to earn rewards, adding further usage beyond the expected increase in market valuation.
Ecoterra’s total supply is capped at $2 billion, with half available for presale. The project allocated 20% for platform liquidity, 10% for listings and marketing, and 5% for team members, which was significantly less than many cryptocurrency pre-sale projects.
Limited team quotas encourage long-term thinking, focusing on $ECOTERRA price increases due to platform development and adoption, rather than short-term hype.
Promising to have a positive impact on the planet, promote recycling and enable tracking of environmental footprints, Ecoterra marks one potential intersection of cryptocurrency and climate-focused technology Interesting project.
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Looking Ahead: Memes, DeFi, Green Coins, and the Year of Impact
Bitcoin is about to establish a new support level of $28,000, but the broader cryptocurrency market offers new opportunities.
Projects like Wall Street Meme and Ecoterra demonstrate the potential for great benefits and real-world impact.
With a vision of using blockchain to empower individuals and tackle environmental challenges, these Web3 initiatives could surge over 1000% by 2023 if they achieve mainstream adoption and success.
Wall Street Memes and ecoterra are leveraging social networks and brand collaborations to share their vision broadly, ultimately with the aim of bringing greater benefits to those who support them in the early stages.