The following cryptocurrencies will explode on Saturday December 2nd – Chainlink, Gas, Bitcoin ETF Token

After three months of declines, U.S. stocks rebounded in November on better-than-expected earnings and signs of declining inflation. These factors have fueled belief that the Federal Reserve may be finished tightening its monetary policy.

Recent comments from Federal Reserve Chairman Jerome Powell have further boosted market confidence as he pledged a cautious approach to interest rates. He signaled a shift to a more cautious stance, highlighting the balancing risks of excessive austerity and insufficient inflation controls.

Jeffrey Roach, chief economist at LPL Financial, highlighted the market’s reaction to Powell’s comments, rephrasing the shift from previous claims of restrictive policy to a perception that we are “well into restraint territory.” I pointed out that it was. These subtle changes resonated with market participants and influenced market sentiment.

Next Cryptocurrency to Explode

Uber Technologies will be added to the S&P 500 starting December 18, S&P Dow Jones Indices confirmed. The move added Jabil Inc. to the S&P MidCap 400 index. and Builders FirstSource Inc., accompanied by inclusion. Adjusting this index, Sealed Air Corp, Alaska Air Group Inc. and SolarEdge Technologies Inc. are removed from the S&P 500.

1. Chainlink (LINK)

A recent insight from on-chain analytics firm Santiment highlights the accumulation of Chainlink (LINK) tokens by major holders. This includes institutional investors and major cryptocurrency whales.

Over the past five weeks, the holdings of these LINK whales have increased significantly, setting Chainlink apart from other altcoins. This also indicates growing interest and trust among major players in the cryptocurrency market. This sets the coin up as the next cryptocurrency to explode.

Currently trading around $15.75, LINK is up 6.5% in the last 24 hours and is up an impressive 42% in the last 30 days. This surge surpasses Bitcoin and the majority of other major altcoins.

A 107% price surge over the past year, outperforming 75% of the top 100 crypto assets, consistent trading above the 200-day simple moving average, positive performance relative to token sale price, 18 positive trading days, and more. Key Indicators High liquidity over the past month and by market capitalization indicate solid overall performance.

Imagine if collectible sneakers could be authenticated, tokenized, and traded on-chain.

These sneaker dNFTs automatically track authenticity, past owners, and status verification, providing greater transparency for everyone. pic.twitter.com/lmWrxkB4iJ

— Chainlink (@chainlink) December 2, 2023

However, despite these positive aspects, expert technical analysis highlights that a notable resistance level for LINK is around $16.58 on a weekly basis. This resistance has persisted for four consecutive weeks, with recent price action signaling a reversal from this level. LINK’s ability to breach and maintain a position above $16.58 is important. A successful breach could trigger a significant price spike in the cryptocurrency.

2. Gas

Gas prices have seen a significant surge, rising 280% over the past year. This growth has surpassed 91% of the top 100 crypto assets, notably outperforming major cryptocurrencies such as Bitcoin and Ethereum.

The current trading position is beyond the 200-day simple moving average, indicating the stability of the market trend. Of the last 30 trading days, 15 were positive trading days, maintaining a positive trend rate of 50%.

In terms of liquidity, gas is at a high level by market capitalization, reflecting favorable market activity. The current price of Gas is $8.24, with a 24-hour trading volume of $115.95 million and a market capitalization of $537.35 million.

This contributes to its market dominance of 0.04%, making it the best cryptocurrency to explode. In the last 24 hours, the price of Gas increased by 3.22%. Gas has witnessed volatile price extremes in the past, hitting an all-time high of $106.25 on January 16, 2018, and reaching an all-time low of $0.581059 on March 13, 2020. The price recorded was $0.581059 (cycle low) and the highest price reached $29.06 (cycle high).

Gas is considered bullish in the price forecast, with current sentiments assessed against a Fear and Greed Index score of 74 (Greed). The circulating supply is 65.22 million GAS out of the maximum supply of 100 million GAS.

Last year, gas recorded an annual supply inflation rate of 543.95%, creating 55.09 million GAS. In the NEO network sector, Gas ranks second by market capitalization.

Some experts predict that Gas will achieve notable results in the cryptocurrency environment. As the cryptocurrency market recovers, the potential maximum price is expected to be around $5.35. The forecast for the average price of gas in 2023 is approximately $4.72. However, if a significant bearish trend emerges in the cryptocurrency market, the minimum expected price of gas by 2023 is estimated at $4.09.

3. Akash Network (AKT)

Akash Network has seen a significant surge in price, registering a notable rise of 631% over the past year. This growth has made it one of the top performers, surpassing 97% of the top 100 cryptocurrency assets in the same period, outperforming stalwarts like Bitcoin and Ethereum. The current trading status is showing positive momentum as it is trading above the 200-day simple moving average.

In the last 30 days, Akash Network has experienced 20 days of positive growth, increasing its value by 67%. The current price is $1.803667, with a 24-hour trading volume of $4.64M and a market cap of $401.16M.

Notably, the highest recorded price was $8.04 on April 6, 2021, and after ATH, the highest recorded price was $0.166008 on November 21, 2022. After the last cycle low, the recent high was reached at $1.939740.

The sentiment on Akash Network’s price prediction is bullish and in line with the Fear and Greed Index of 74 (Greed). Regarding supply dynamics, the circulating supply is 222.41M AKT out of a maximum supply of 388.54M AKT.

SubQuery now supports Akash Supercloud’s rapid data indexing, allowing builders to easily manage and query on-chain data.

This will significantly increase development speed and iteration time for Akash Builder.

Read the full announcement: https://t.co/Yt27oAaSvt https://t.co/iBLevY8KQe pic.twitter.com/xJq9QTapIF

— Akash Network (@akashnet_) December 1, 2023

The annual supply inflation rate was 95.34%, generating 108.55 million AKT last year. From a market perspective, Akash Network ranks 18th in Proof-of-Stake coins and 6th in AI cryptocurrencies. This data provides an overview of project performance, circulating supply dynamics, and current position within the cryptocurrency landscape.

4. Bitcoin ​​ETF Token (BTCETF)

The Bitcoin ETF token BTCETF provides an investment avenue for those interested in speculating on the potential impact of the approval of a spot BTC ETF. It consists of unique token economics that aim to reduce supply and potentially increase scarcity and value over time.

A summary of the fourth important milestone is as follows: #Bitcoin ETF! 4️⃣

If your total assets under management (AUM) is: #Bitcoin ETFs account for 5% of the total market, reaching a value of $1 billion. #BTCETF Token supply will be burned and transaction tax will be reduced from 2% to 1%. 🌐 pic.twitter.com/BuSiP8G4yt

— BTCETF_Token (@BTCETF_Token) December 2, 2023

A notable feature is the burn mechanism, designed to remove up to 25% of total supply once the critical ETF approval stage is reached. Additionally, we will implement a 5% transaction tax that gradually decreases by 1% at each milestone to incentivize long-term holders.

The project also includes a staking protocol that allows BTCETF token holders to earn up to 179% APY. Despite being in the pre-sale stage, the project received significant early interest and raised over $1.7 million in funding.

During the pre-sale phase, investors can acquire BTCETF tokens for $0.0056 each, but this price may increase soon. Following the pre-sale, the project aims to list on multiple exchanges to attract early supporters, potentially considering an early investment at a strategic entry price point if the momentum continues. While Bitcoin maintains its status as the leading global cryptocurrency, the Bitcoin ETF token presents a speculative opportunity for investors looking for the approval of a spot BTCETF.

Visit Bitcoin ETF Tokens.

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