New particulars got here to mild on October 10 within the ongoing trial of former FTX CEO Sam Bankman-Fried. Caroline Ellison, Bankman-Fried’s ex-girlfriend and former head of affiliated agency Alameda Analysis, took the stand to ship key testimony for the prosecution.
With the most recent improvement in Bankman-Fried’s case, what’s the greatest crypto to purchase now?
In her statements to the court, Ellison admitted to legal actions throughout her management of Alameda. Crucially, she additionally straight implicated Bankman-Fried in systematically misusing billions of {dollars} in FTX buyer funds.
In response to accounts, Ellison claimed Bankman-Fried “arrange the techniques” that enabled Alameda to improperly divert buyer property from FTX to Alameda’s funding actions. She said that beneath Bankman-Fried’s path, Alameda “took a number of billions of {dollars} from FTX clients.”
Ellison’s testimony provides critical backing for the prosecution’s charges of fraud against Bankman-Fried. Her statements painting him because the driving pressure behind Alameda’s alleged misuse of buyer funds, whereas she cooperated in deceptive actions.
FTX collapsed in November 2022. Bankman-Fried faces seven legal expenses associated to the alleged fraud scheme. He pleaded not responsible on all counts.
Ellison was among the many first insiders to plead responsible and conform to testify for authorities. Because the trial continues, it is unsure whether or not Bankman-Fried himself will take the stand to rebut her account.
Whereas the FTX drama continues within the courts, crypto buyers in search of alternatives would possibly need to think about researching Tezos, Bitcoin Minetrix, Cosmos, Meme Kombat, and XDC Community.
These cryptocurrencies are at present staking their declare as the perfect to purchase now, due to their robust fundamentals and/or constructive technical evaluation.
Tezos (XTZ) Value Holds Floor in Buying and selling Vary Amidst Uptick
The XTZ worth has seen a slight uptick as we speak, gaining 6.02% to commerce round $0.687. Nevertheless, regardless of testing the 100-day EMA earlier, XTZ has returned to the buying and selling vary it has been caught in for over 50 days now.
With the 20-day EMA at $0.674 and the 50-day EMA at $0.691, the XTZ worth is sandwiched between these two key exponential moving averages.
The RSI at present stands at 53.17, up from yesterday’s 41.17. This reveals gathering bullish momentum within the XTZ worth. Nevertheless, with the RSI nonetheless under 70, XTZ shouldn’t be but in overbought territory.
The MACD histogram is printing at 0.001, simply narrowly avoiding a bearish crossover from yesterday’s 0. This means the bullish sentiment is fragile and will simply swing adverse.
When it comes to quantity and market cap, issues are wanting higher for XTZ. Market cap is up 6.23% to $657.4 million, whereas 24-hour quantity is surging by over 700% to $124.2 million. This factors to renewed curiosity in buying and selling the cryptocurrency.
With the XTZ worth at $0.687, bulls are dealing with preliminary resistance on the 20-day EMA of $0.674. Above that, the 50-day EMA at $0.691 and the important thing $0.730 to $0.741 resistance zone would be the ranges to look at. Breaking out above $0.741 would verify a breakout from the long-term buying and selling vary.
On the draw back, instant help lies between $0.629 to $0.636. If this offers manner, the XTZ worth might enter worth discovery mode to the draw back.
Whereas the uptick in worth and quantity is encouraging, the XTZ worth stays caught in limbo between key transferring averages. A decisive breakout above resistance or breakdown under help is required to sign the following pattern.
Merchants could need to await this catalyst earlier than making main commitments in both path.
Bitcoin Minetrix Raises Over $920,000 in Presale, Redefining Crypto Mining
With good automation and tokenization, Bitcoin Minetrix is disrupting cloud mining because the best crypto to buy now.
This audited platform has raised over $950,000 up to now in its ongoing presale, letting customers earn yields from Bitcoin mining with out the everyday mining dangers.
Bitcoin Minetrix supplies a scam-free way to earn from Bitcoin mining, utilizing good contracts to automate the method.
The native token, $BTCMTX, is at present in presale with the primary stage ending October 16. Over half of the allotted 1.54 million tokens for this stage have already offered on the lowest worth of $0.011.
In distinction, the questionable MineLab coin has seen large worth fluctuations after launching on decentralized exchanges. Whereas Bitcoin Minetrix has handed an audit by Coinsult, MineLab has not offered any audits.
DEXTools has detected points permitting the MineLab contract proprietor to switch person balances, opening the door to potential rug pulls. A number of customers have already reported emptied balances.
There are a number of different purple flags round MineLab. No locked liquidity, nameless builders with solely a Gmail deal with, and imprecise guarantees of mining yields. The MineLab web site seems unexpectedly thrown along with faux buttons and no specifics on operations.
Bitcoin Minetrix units itself aside with an audited contract, public staff data, and a transparent staking mannequin for incomes yields as much as 650% APY as of writing.
A complete of 4 billion tokens will probably be minted, with 7.5% allotted to stakers. Customers can earn from each staking rewards and future mining yields.
The venture has additionally partnered with main cloud mining suppliers to ship on its roadmap. The staff’s transparency and a spotlight to element have garnered reward from crypto influencers on YouTube and past.
With the infrastructure in place for safe and passive Bitcoin mining, Bitcoin Minetrix proves itself as the perfect crypto to purchase now.
The takeaway is obvious – newcomers like MineLab could promise the moon however lack substance. In the meantime, Bitcoin Minetrix affords a compliant, audited approach to take part in Bitcoin’s progress.
For buyers in search of passive revenue and crypto diversification, this forward-thinking platform is the clear alternative within the extremely aggressive Bitcoin mining scene.
Cosmos (ATOM) Value Caught Under Resistance at $7, Going through Draw back Stress
The ATOM worth has been struggling to regain momentum after its current selloff. ATOM is at present buying and selling at $6.707, down 1.83% on the day. With the worth effectively under key EMA ranges, ATOM stays in a bearish state based on the EMAs.
The 20-day EMA for the ATOM worth stands at $6.990, whereas the 50-day EMA sits at $7.229. With the ATOM worth under each these brief and long-term EMAs, this means sustained downward momentum. The widening hole between the EMAs reveals rising adverse sentiment.
The RSI is at present at 40.23, down from yesterday’s 43.32. This reveals fading bullish momentum and the potential for additional ATOM worth declines. A studying under 30 would point out oversold situations and potential for a corrective bounce.
The MACD histogram is at -0.034, reducing from yesterday’s -0.22. The rising adverse worth reinforces the bearish momentum pervading the ATOM market at present.
With the ATOM worth down 1.83% up to now as we speak to $6.707, the ATOM worth stays caught under the important thing $7 stage which has acted as resistance over the previous few days.
When it comes to potential worth ranges, ATOM faces instant resistance between $6.955 to $7.004. This zone aligns with the Fib 0.5 stage at $6.98 and the 20-day EMA at $6.990. Breaking above this space might sign a bullish shift in momentum.
On the draw back, ATOM has instant help between $6.574 to $6.692, together with the Fib 0.786 stage at $6.586. Shedding this help might see ATOM retest the psychological $6 stage, with the $5.80 area representing the following main draw back goal.
With technical indicators portray a bearish image, merchants could need to wait on the sidelines for a definitive shift in momentum earlier than getting into new ATOM positions.
Cautious buying and selling targeted on outlined danger limits is beneficial till ATOM can regain the important thing $7 resistance or holds above very important help. The approaching days will probably be pivotal in figuring out if that is only a pullback inside an uptrend or the beginning of a deeper bearish transfer.
Meme Kombat’s $MK: The Greatest Crypto to Purchase Now for Crypto Gaming Fanatics
One of the best crypto to purchase now would possibly simply be $MK, the native token powering the new new Meme Kombat gaming platform gaining traction within the Web3 area.
Meme Kombat brings decentralized, blockchain-based gaming to meme coin lovers, promising a one-of-a-kind expertise constructed on Ethereum. Meme Kombat’s $MK token presale has attracted main hype, elevating over $430,000 inside days of its launch.
The presale affords the $MK token at a reduced worth of $1.667 per token, translating to a modest $20 million market cap for certainly one of 2023’s biggest crypto presales. Meme Kombat has established a fundraising objective of $10 million, allocating 50% of the overall provide to the presale.
At its core, Meme Kombat is an AI-driven gaming platform enabling customers to wager on battles between characters representing fashionable meme cash.
Avid gamers can select between direct betting, participant vs. participant, and participant vs. sport betting choices, offering flexibility. Meme Kombat leverages blockchain to make sure transparency in its gaming operations.
The $MK token is integral to Meme Kombat’s GameFi and GambleFi elements. $MK stakers stand to earn yields of as much as 112% APY as of writing. Presale patrons begin producing passive revenue instantly as their newly acquired tokens enter the staking contract upon buy.
With a wildly profitable presale fuelling momentum, Meme Kombat appears poised for potential main change listings later this yr.
Given the venture’s robust fundamentals and progress roadmap, the $MK token could also be the perfect crypto to purchase now for buyers eager to take part in Meme Kombat’s crypto gaming ascent.
XDC Continues to Bleed Decrease, Down 8.42% So Far in October
The XDC worth continues to face promoting strain, with the cryptocurrency down 0.83% up to now as we speak to commerce round $0.04874. This extends the gradual bleed decrease that XDC has skilled for a lot of the previous month, with the coin now down 8.42% up to now in October.
From a technical perspective, the near-term outlook stays bearish for the XDC worth. The 20-day EMA at present stands at $0.05040 whereas the 50-day EMA resides at $0.05206. With XDC buying and selling firmly under each transferring averages and the EMAs starting to align in a bearish formation, this factors to continued draw back forward.
The RSI indicator sits at 41.54, drifting decrease from yesterday’s 42.75 studying. With the RSI under the 50 midpoint, this signifies prevailing adverse momentum and restricted upside potential. The MACD histogram now prints at 0.00007, a lower from the prior day’s 0.00010 stage. The deteriorating MACD additional cements the constructing draw back trajectory for XDC.
When it comes to key ranges, earlier long-term help between $0.05003 and $0.05048 that has now flipped into resistance, together with the 20-day and 100-day EMAs, will look to halt any XDC bounce. Solely a decisive break again above this space would flip the tide.
On the draw back, preliminary help holds between $0.04319 and $0.04558, with the Fib 0.236 stage at $0.04455 providing confluent help. However failure right here might open up a take a look at of the swing low round $0.03667.
With XDC nonetheless struggling under former help, the trail of least resistance seems decrease. Remaining defensive and capitalizing on oversold bounces appears prudent till the bulls can invalidate the collection of decrease highs and lows.
Disclaimer: Crypto is a high-risk asset class. This text is offered for informational functions and doesn’t represent funding recommendation. You might lose all your capital.
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