It’s been a volatile few days in the cryptocurrency market, with most coins and tokens posting significant losses.
Various external factors have caused this bearish momentum, contributing to a high level of investor uncertainty.
However, not all cryptos are experiencing pullbacks – with presale projects Bitcoin Minetrix (BTCMTX) and Meme Kombat (MK) defying the downtrend and garnering substantial investor interest.
Crypto Prices Plunge Amid Economic & Geopolitical Worries
As evidenced by Coin360’s heatmap, there’s a sea of red in the crypto market, indicating widespread losses across various coins and tokens.
Bitcoin has dropped almost 1% in the past 24 hours, while Ethereum is down almost 2%.
Smaller cryptos, like Avalanche and Polkadot, haven’t been immune to the bearish momentum, also experiencing significant declines.
This broad sell-off can be attributed to several factors related to the macroeconomic and geopolitical situation.
Firstly, US CPI data is set to be released this week, which will likely influence the Federal Reserve’s decision on interest rates in November.
If CPI data comes in higher than expected, it could pressure the Fed to hike rates once more before the end of 2023 – dampening investor enthusiasm for riskier assets like cryptocurrencies.
Secondly, the ongoing conflict in Israel has heightened geopolitical tensions, causing investors to reassess their level of risk.
Currently, the Crypto Fear & Greed Index is at a value of 50, indicating a “Neutral” sentiment from investors.
However, with crypto prices down across the board, sentiment could quickly tilt towards “Fear” – causing further sell-offs in the short term.
Which New Tokens Are Showing Bullish Momentum?
While the broader market grapples with economic and geopolitical instability, some new tokens are bucking the trend and capturing investor attention.
Among these, Bitcoin Minetrix and Meme Kombat stand out due to their unique use cases and strong presale performance.
Stake-to-Mine Project Bitcoin Minetrix Defies Downtrend & Nears $900,000 Funding Milestone
Bitcoin Minetrix (BTCMTX) is a groundbreaking Stake-to-Mine platform built on the Ethereum blockchain that seeks to revolutionize the cloud mining sector.
This Stake-to-Mine mechanism allows users to stake BTCMTX, Bitcoin Minetrix’s native ERC-20 token, to earn cloud mining credits.
These credits can then be burned to acquire either BTC mining time or a share of mining yields.
Through this process, everyday investors can access cloud mining capabilities while shielding themselves from the issues plaguing the sector, like a lack of transparency and user control.
On top of that, investors can also stake their BTCMTX tokens to earn a recurring yield, set at 680% per year.
As outlined in Bitcoin Minetrix’s whitepaper, the tokenomics setup is designed to support this mining and staking approach, with 42.5% of the total BTCMTX supply set aside to fund crypto mining operations.
A further 15% of the supply will be used for community rewards, including the recently launched $30,000 “Minedrop” giveaway that aims to foster engagement within the community.
These elements have combined to create an enormous buzz around Bitcoin Minetrix’s ongoing presale, which is currently in Stage 1 out of 10.
Over $870,000 in funding has been raised already, with prospective investors able to get their hands on BTCMTX tokens for just $0.011.
With high-profile names like Michael Wrubel endorsing the project, Bitcoin Minetrix looks to be a token worth watching as the broader crypto market struggles.
Visit Bitcoin Minetrix Presale
Meme Kombat Momentum Continues Growing as Staking & Wagering Features Capture Attention
Another token that remains bullish amid the market uncertainty is Meme Kombat (MK).
Meme Kombat is an innovative gaming platform that allows users to buy and stake MK tokens to bet on AI-powered battles between meme characters.
The outcome of these battles is decided on-chain – with users able to win more MK tokens by choosing the winner.
Alongside this wagering aspect, MK holders can earn yields of 112% per year by staking their tokens.
This dual-earning approach has received praise from crypto community members, especially when combined with Meme Kombat’s hilarious and approachable branding.
Regarding tokenomics, 50% of the total MK supply has been earmarked for presale investors, while 10% will provide DEX liquidity once the token makes its market debut.
Notably, there’s no team allocation, indicating the focus is on community-driven growth and decentralization.
This setup has caught the attention of the meme coin community, with over 1,600 people joining Meme Kombat’s Telegram channel in recent weeks.
The buzz has also translated to presale excitement, given that more than $420,000 in early funding has been raised thus far.
With MK tokens on offer for $1.667, many early backers believe getting involved at this low price point could offer substantial future gains if Meme Kombat continues its bullish trajectory.
Visit Meme Kombat Presale
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