A slight deviation in Tether’s (USDT) stablecoin earlier today has caught the attention of cryptocurrency traders.
The move occurred within Curve’s 3Pool decentralized finance ecosystem, which holds significant liquidity and three primary stablecoins: USDT, USDC, and DAI.
In light of this development, what are the best cryptos to buy now?
The shift was a minimal 0.3% pullback to 0.997, seemingly caused by a sudden influx of USDT within Curve’s 3Pool, which caused the platform’s USDT dominance to reach 73.8% at one point–compared to the typical 33.1%.
This presents a clear signal that traders are starting to exchange their USDT holdings for either DAI or USDC, reminiscent of a similar incident during the FTX fiasco in November 2022.
The fluctuation is linked to a single whale address, CZSamSun, which borrowed 31.5 million USDT and exchanged it for USDC, nudging USDT’s stable peg off-kilter.
The operation leveraged 17,000 Ether and 14,000 staked Ether as collateral and utilized the 1inch Network to convert borrowed assets into USDC.
After the swap, CZSamSun made large deposits of $10 million into Aave v2 and $21 million into Aave v3 and borrowed 12 million USDT from v3 to funnel into v2.
Another address capitalized on the altered prices between USDT and USDC too, borrowing a massive 50 million USDC using 52,200 staked Ether as collateral via Aave v2.
This USDT price deviation rippled through the market, uplifting the USDC/USDT pair on Binance to a yearly high of $1.0034.
As of writing, the majority stake in the Curve 3Pool now belongs to USDT, with a percentage of 55.01%. DAI comes in second with 30.19%, while USDC holds the third position with 14.80%.
In response to market jitters, Tether’s CTO, Paolo Ardoino, stated on Twitter that the company is fully equipped to redeem any volume involved, attempting to diffuse the tension surrounding Tether’s slight deviation.
Despite these assurances, a potential restructuring of the stablecoin balance could have a significant impact on the cryptocurrency industry.
The recent deviation in Tether’s stablecoin value highlights the importance of diversifying your cryptocurrency portfolio and investing in cryptocurrencies with strong fundamentals and/or favorable technical analysis.
WSM, TWT, ECOTERRA, UNI, YPRED, CSPR, and SWDTKN are some of the best cryptos to buy now based on this criteria.
From Wall Street Rebellion to Meme Coin Success: Introducing Wall Street Memes
Wall Street Memes is shaking up the crypto presale sector with its $WSM meme coin, which has already raised over $7.27 million so far within just two and a half weeks of its launch.
This impressive funding rate of around $350,000 per day is an exciting prospect for investors seeking the best crypto to buy now.
$WSM has the potential to replicate the success of other popular meme coins such as Dogecoin, Pepe, and Shiba Inu.
Currently priced at $0.0289 and on stage 14, the $WSM presale will reach $0.0337 by the end of the presale, indicating substantial returns for early investors.
Wall Street Memes has a history of successful digital asset launches, making it a promising investment opportunity.
In addition to its financial prospects, Wall Street Memes has a strong social media presence, with 1 million enthusiasts across various platforms.
Even Elon Musk has taken notice, further highlighting the potential of the $WSM presale and its outreach.
With such a significant community, Wall Street Memes is well-positioned for potential listing on primary crypto exchanges like Binance and is preparing for listing on CoinMarketCap.
As a result, it could become a significant contender for investors seeking the next big thing in meme coins.
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Trust Wallet Token (TWT)
Despite the recent bullish momentum, the Trust Wallet Token (TWT) is grappling with considerable price resistance.
A thorough examination of TWT’s technical indicators reveals an intricate play of bullish and bearish forces that may well determine its immediate future trajectory.
To begin with, the 20-day EMA stands at $0.9144, which represents a significant barrier that TWT has been unable to breach for nearly two months.
Similarly, the token has repeatedly met resistance at the Fib 0.236 level at $0.8691, reflecting the ongoing struggle of the bulls to regain control.
Despite the token’s price closing up by 12.10% yesterday and posting a modest 1.67% gain today, the persistence of these obstacles could stymie any short-term bullish narrative.
Adding to this, the 50-day EMA at $1.0250 and the 100-day EMA at $1.1293 serve as even more formidable hurdles, potentially stifling any long-term bullish momentum.
The failure of TWT to break above these key technical levels suggests an underlying weakness in the current price action.
The RSI also corroborates this, with a reading of 38.34, up from yesterday’s 36.32, suggesting that the token is currently on the edge of the oversold territory, which further indicates a potential bearish bias.
However, the MACD histogram paints a slightly different picture. The histogram has improved from -0.0199 to -0.0113, indicating the weakening of the downward momentum and potentially signaling an imminent bullish crossover.
TWT’s market capitalization has also seen a slight increase of 0.17%, up to $356 million, while the 24-hour trading volume has soared by 40.89%, reaching $82 million.
This uptick in trading volume and market cap might suggest an increase in trader interest, potentially leading to an influx of buying pressure.
Despite these signs of potential bullish activity, traders should exercise caution due to TWT’s immediate support levels.
Currently, TWT has a temporary support range of $0.7120 to $0.7321, followed by another support at $0.6647 to $0.6974.
If these levels fail to hold, a steep decline to the $0.5499 to $0.5663 range could ensue, aligning with the extended Fib -0.236 level at $0.5555—a near 35% drop from current levels.
While TWT’s recent bullish momentum offers a glimmer of hope, traders should tread carefully.
The failure to break above key resistance levels combined with potential support failures could trigger substantial sell-offs.
Conversely, signs of an imminent bullish MACD crossover and increased trading volume could pave the way for a short-term rally.
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Investing in a Greener Future: $ECOTERRA Is One of the Best Cryptos to Buy Now
With presales for its $ECOTERRA token now surpassing $5.13 million, ecoterra is making impressive strides in the development of its eagerly awaited Recycle-to-Earn (R2E) application.
The application will be accessible on desktop and mobile, with a sleek, minimalistic design promising user-friendly navigation.
ecoterra is integrating major beverage brands such as Coca-Cola, Carlsberg, and Evian into their database of scannable products, and will reward users with cryptocurrency for recycling these brands’ bottles via Reverse Vending Machines (RVMs).
Given its unique value proposition, ecoterra’s crypto presale has been hugely successful. If investors are looking for the best crypto to buy now, $ECOTERRA is a hot prospect.
Currently selling at $0.00925, the token’s price will increase to $0.01 once the presale hits $5.7 million, with analysts predicting a significant upside for the token once it launches across major crypto exchanges.
ecoterra is more than just a token–it’s an entire ecosystem that will offer a carbon offset marketplace, a recycled materials marketplace, and Impact Trackable Profiles for businesses to monitor their environmental impact and improve their green branding.
With such significant potential, $ECOTERRA may very well be the green utility token of the future.
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Uniswap (UNI)
Uniswap is experiencing a modest rally for the past four days, successfully mounting the Fib 0.236 level at $4.314 following a 2.70% gain yesterday and an additional 0.79% increase so far today.
This upward momentum has brought the cryptocurrency face-to-face with a crucial resistance point: the 20-day EMA, currently at $4.634.
The 50-day EMA, situated at $4.996, and the 100-day EMA, at $5.361, serve as further resistance levels that Uniswap must overcome to continue its ascent.
However, traders should also keep a close eye on several key technical indicators that may offer insights into the cryptocurrency’s future trajectory.
The RSI has risen slightly from yesterday’s 38.11 to 39.54 today. This modest increase suggests that Uniswap is beginning to accumulate buying pressure, though it remains below the 50 mark, which is often viewed as a sign of a balanced market.
A continued upward trend in RSI could indicate that buyers are taking control and the cryptocurrency may push past the current resistance levels.
Meanwhile, the MACD histogram has improved from -0.041 yesterday to -0.022 today.
Although still in negative territory, this change signals a potential trend reversal as the histogram climbs closer to the zero line.
Should the MACD move into positive territory, this momentum could provide the necessary boost for Uniswap to conquer its resistance levels and rally further.
Uniswap is currently trading at $4.440 with a gain of 0.79% so far today. Immediate resistance lies with the 20-day EMA, followed by the Fib 0.382 level at $4.732.
On the flip side, the Fib 0.236 level at $4.314 offers immediate support for the cryptocurrency.
Traders should closely monitor the RSI and MACD indicators to gauge Uniswap’s potential for overcoming its current resistance levels.
A sustained move above the 20-day EMA would signify a bullish signal, whereas a drop below the Fib 0.236 level could trigger further selling pressure.
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yPredict: Empowering Traders with Data-Driven Insights and Predictions
yPredict ($YPRED) has gained investors’ attention with its ambitious mission to change the way cryptocurrency traders access and analyze data.
The project’s potential for success and growth is evident as the presale progresses through stage 6 with investors’ contributions exceeding $2.36 million as of writing.
yPredict will utilize artificial intelligence to offer investors detailed forecasts and insightful data about hundreds of cryptocurrencies.
The yPredict platform is the product of a collaboration between professional traders, quants, AI experts, and software developers.
With its advanced predictive models and cutting-edge trading tools, yPredict will offer users a competitive edge in the market.
The platform will also provide market sentiment analysis, chart pattern identification, and technical indicator testing to give users a comprehensive view of the market.
Boasting more than 20,000 people on its waiting list, yPredict proves to be more than just a passing trend.
Built on Polygon’s fast and efficient layer-2 network, it will offer a strong staking system, play-to-earn and learn-to-earn features, and even a marketplace for market experts to sell their forecasting models.
With all of these impressive features and its strong community engagement, yPredict seems like a strong contender for the title of the best crypto to buy now.
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Casper Network (CSPR)
The Casper Network (CSPR) has been experiencing a downtrend, with its 20-day, 50-day, and 100-day EMAs at $0.04368, $0.04462, and $0.04528, respectively.
However, recent price action may indicate a potential reversal in the near future. CSPR is currently trading at $0.04050 and shows some signs of strength, having risen by 5% so far today.
The RSI currently stands at 37.89, slightly up from yesterday’s level.
While this suggests that the asset has been oversold, the RSI is not yet in the oversold territory. However, a continued increase in RSI could indicate bullish momentum is building.
The MACD histogram has shown a value of -0.00041, indicating a bearish trend. However, a reversal in this indicator could signal a shift in market sentiment and a possible change in trend direction.
Looking at the Fibonacci retracement levels, the immediate resistance for CSPR is at the Fib 0.236 level of $0.04087. If the price manages to break above this level, it could pave the way for further gains.
On the other hand, immediate support can be found in the previous horizontal support area of $0.03710 to $0.03804.
If the price fails to hold above this area, it may find further support in the range of $0.03283 to $0.03419, which is in confluence with the extended Fib -0.236 level at $0.03332.
While the Casper Network (CSPR) has been in a downtrend, the recent price increase and potential shifts in technical indicators suggest that a reversal may be on the horizon.
Traders are advised to keep a close eye on the RSI, MACD, and key support and resistance levels to gauge potential entry and exit points in the immediate future.
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Game-Fi Revolution: Why Swords of Blood Is One of the Best Cryptos to Buy Now
Swords of Blood is a prime example of how the integration of blockchain technology can lead to tremendous achievements in the gaming industry.
With a presale that generated over $1.37 million so far, this thrilling hack-and-slash game is now eagerly anticipating its upcoming Initial DEX Offering (IDO)
Swords of Blood is the first AAA-quality, high-octane hack-and-slash thriller coming to the Polygon blockchain.
Inspired by the popularity of titles like Diablo, it combines dazzling combat mechanics, stellar graphics, and an array of game modes to create a universe that is centered around the player experience.
Building on a predecessor that accrued 4 million downloads in 2019, Swords of Blood offers players an opportunity to become intrepid dungeon crawlers, bounty-hunting mages, or mighty warriors.
With the world of Ezura in turmoil, it’s up to the players to defeat the Dragon Betrayer and restore peace.
In addition to the captivating narrative, Swords of Blood offers immersive gameplay and a host of in-game items, or GUTs, which are effectively NFTs.
These GUTs increase in power as the player uses the game’s Elements, creating a dynamic and engaging Items Progression System.
Swords of Blood has implemented a unique marketing approach with the introduction of the Founders Box, a special offer that will provide players with a selection of GUTs to elevate their gameplay and character development.
With three options available – Basic Epic, Medium Legendary, and Big Legendary – these boxes give players a competitive advantage, reinforcing Swords of Blood’s position as the best crypto to buy now in the crypto gaming industry.
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