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Top Gainer Of The Day In The Market: PERP

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Top Gainer Of The Day In The Market: PERP
  • The top gainer cryptocurrency of the day is PERP.
  • PERP has surged nearly 60% within the past 24-hours.
  • The platform understands the importance of new partnerships and updates.

Among the growing technology, blockchain is the significant tech that is integrated into most of the platforms. Blockchain technology offers users security and high-speed transactions at a low cost. Significantly, one of the use cases of blockchain technology is decentralized exchange. DEX has also risen in popularity and adoption.

DEX is a type of crypto exchange that allows transactions directly via online securely without intermediaries. As it does not require a third party or intermediary, DEX has captured the interest of investors to choose this technology. Similarly, Perpetual Protocol (PERP) is also a decentralized exchange that has been listed as the top gainer of the day.

Perpetual Protocol is a decentralized exchange (DEX) that offers highly efficient liquidity provisioning as well as up to 10x leverage for makers and takers. The goal of PERP is to make powerful trading tools more available to the general public.

Current Market Status

At the time of writing, the trading price of PERP is $17.15 with a trading volume of $283,119,944 in the past 24-hours. According to Coinmarketcap, the price value of PERP has soared to 58.63% within a day and holds 81st rank. Moreover, the current circulating supply of PERP coins is 68,700,000.

Trading Chart of PERP

The chart displays the bullish pattern for the past 24-hours. The price value of PERP has skyrocketed from $10.67 to $18.85 within a day. With the 7-day statistics, the price has risen to 22% but however, PERP’s price is still 30% lower than its ATH. Moreover, it is available in top exchanges like Binance, Mandala Exchange, OKEx, FTX, and ZT.

Furthermore, PERP made it to reach this level with so much effort from its network. The platform has covered the attention of seekers in the crypto market which led to price hikes. Moreover, on September 25, Perpetual Protocol conducted an AMA session on “why partnership and integration”.

As a matter of fact, the platform focuses on building new partnerships and integrating technology as well as features to its ecosystem. Thus, the advancements and updates from the network might grab the attention of investors which results in a price surge. However, the users had their sweet spot for the past couple of days and they expect more highs. If the trend continues then it may also crack its ATH level and set-up a new all-time high.

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Polygon (Matic) Prices All set to Create New ATH, Prices Around $2 Level

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Polygon (Matic) Prices All set to Create New ATH, Prices Around $2 Level
  • Traders may attempt to exit long positions when Polygon is near $2.
  • A big closing over $1.87 would entice investors, alleviating selling pressure.

Polygon’s native token, MATIC, looks to be catching up with the market. By all indicators, prices may be on their way to a new all-time high. Likewise, the Polygon has broken past major resistance and is poised to hit new highs.

MATIC Price has risen over 22% in the previous four days, signaling positive momentum. Prices have climbed lately from $1.52 on October 23 to $1.86. The cryptocurrency is now trading at $1.8370, up 10.33% in the past 24 hours. $MATIC has a year-to-date ROI of +10337 percent.

For confirmation, measure the distance between the initial swing peak and the low swing peak, then multiply by $1.73 (breakout point) to arrive at a $4.32 target.

Before retesting the ATH at $2.70, Polygon will have to overcome two significant roadblocks at $2.04 and $2.22. If MATIC overcomes these challenges, it will reach $4.32. Traders may attempt to exit long positions when Polygon is near $2. Unfortunately, that might halt the upswing and prevent MATIC from breaking past that barrier and realizing its upside potential.

MATIC/USDT: Source: TradingView

The IOMAP graphic above shows the Bulls winning. At $2, just 1,280 addresses have acquired over 35.5 million MATIC. Polygon’s primary support level is $1.75.

With daily addresses increasing over the previous three months, the main spike is on its way. In addition, it seems that more cash and investors are entering the market, as the 7-day MA for active wallets has increased. To date, approximately 92 percent of all $MATIC addresses are profitable, according to ITB statistics.

The GIOM model predicts that Polygon has a single resistance at $1.87. Approximately 17.54 thousand crypto addresses bought 135 million tokens. A big closing over $1.87 would so entice investors, alleviating selling pressure. On the other hand, MATIC may so easily expand its surges. The alt will then skyrocket to $2.7 or more.

MATIC has risen by over 30% so far in October, and now, according to a Reddit debate, MATIC has handled 1 Billion transactions on the Polygon PoS chain.

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Helium (HNT), Cosmos (ATOM), Holo (HOT) -All Set to Create New ATH!

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Helium (HNT), Cosmos (ATOM), Holo (HOT) -All Set to Create New ATH!
  • HNT’s recent alliance with Dish Network has been a big impetus for price activity. 
  • ATOM might hit a new ATH of roughly $47.586.

After achieving fresh ATHs, Bitcoin and Ethereum seem to be out of breath. However, the market is buoyant as numerous cryptocurrencies post double-digit gains, and the star crypto gains support of approximately $60,000. Recent gains in Helium (HNT), Cosmos (ATOM), and Holo (HOT) are notable.

A crypto metric site named Santiment just published the growth of the above cryptocurrencies. The analytics tool shows a huge increase in market value for Helium, Cosmos, and Holo. Here are some price targets for these cryptocurrencies.

Helium (HNT)

Helium (HNT) is a blockchain-based platform for IoT utilities. On Tuesday, the primary altcoin nearly missed the $26.31 ATH. However, the HNT price has been consolidating around $24.15. The 4-hour chart continues to show a battle between buyers and sellers.

If enough buyers step in, the cryptocurrency might gain another 10% to 15% after regaining the prior ATH. On the other hand, if bears seize control of the market, HNT’s price might fall below $20.

HNT/USDT: Source: TradingView

However, the HNT’s recent alliance with Dish Network has been a big impetus for price activity. Traders may use compatible Helium 5g Hotspots on Dish Network to earn HNT tokens.

Cosmos (ATOM)

Cosmos (ATOM), a decentralized network that improves interoperability and scalability, has gained 10% in 24 hours. Trading volume increased by approximately 300 percent in hours. The price of ATOM has been steadily declining since reaching its previous ATH of $44.70. On the 4-hour chart, sellers outnumber purchasers.

1635364894 7 Helium HNT Cosmos ATOM Holo HOT All Set to Create
ATOM/USDT: Source: TradingView

Currently trading at $39.50, a sell-off may send ATOM down to $36.74 if it persists. The RSI value of 60.8 also implies a good consolidation period. If a large number of buyers come in during the next several hours, ATOM might hit a new ATH of roughly $47.586.

Holochain (HOT)

Holochain (HOT) is a peer-to-peer network that has recently gained considerable media attention. Huge green candles on the 4-hour chart indicate an enormous increase in investment. Recent ecosystem events have pushed the price back to September highs of $0.0125. Following large purchase orders a few hours earlier, the cryptocurrency is undergoing a little correction with hefty sell-offs.

1635364894 700 Helium HNT Cosmos ATOM Holo HOT All Set to Create
HOT/USDT: Source: TradingView

The price of Holochain (HOT) is projected to drop around $0.0095. The RSI element is green. Thus the HOT price might surpass the September high of $0.0135. As of early this week, Bitcoin dominance has declined, signaling capital leakage to rival cryptocurrencies. Moreover, the recent increase in these cryptocurrencies’ market cap confirms the start of Altseason.

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Greed Spikes To Seven-Month High Alongside Record Crypto Prices

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Crypto Greed

Data shows greed in the crypto market has spiked to seven-month highs as coins record new all-time highs (ATHs).

Crypto Fear And Greed Index Points At Extreme Greed

As per the latest weekly report from Arcane Research, the fear and greed index has recorded seven-month highs as the needle points at extreme greed.

The “fear and greed index” is an indicator that represents the general sentiment of the crypto market on a numeric scale that goes from 0 to 100.

When the metric has values below 50, it means there is, on average, fear among investors. Values lower than 25 denote extreme fear. Such a sentiment is usually seen after big corrections, and periods of extreme fear may prove to be good buying opportunities.

While the needle pointing above 50 means the crypto market is starting to get greedy. Extreme greed occurs when values exceed 75. Very high values near 100 may mean there will be a correction soon so investors may not buy more at this point.

Here is a meter that shows what the current market sentiment is:

The fear and greed index seems to be pointing at extreme greed at the moment | Source: The Arcane Research Weekly Update - Week 42

As the above meter shows, the crypto market looks to be extremely greedy right now as the value of the indicator stands at 76.

Related Reading | Bitcoin Funding Rates Touch Same Level As Early September, More Correction To Come?

Comparison with last week’s and last month’s values is also given below the meter, which were 75 (extreme greed) and 27 (fear), respectively.

The below chart gives a better idea about how the current fear and greed index values compare with those of the past:

Crypto Fear And Greed Index

The values of the indicator over the last one year | Source: The Arcane Research Weekly Update - Week 42

On examining the above graph, it becomes apparent that the fear and greed index reached values of 84 this week, the highest in the last seven months.

Related Reading | Breaking Down The Bitcoin Binance Flash Crash By The Second

This peak was made just a day after Bitcoin made its new ATH of around $67k, but shortly following that the price had a correction. The below chart shows this trend in BTC’s price:

Bitcoin crypto Price Chart

BTC's price continues to go down after making a new ATH | Source: BTCUSD on TradingView

The fear and greed index also took a hit in response to this decline in Bitcoin’s price, but nonetheless, values still remain in the extreme greed category, which means the crypto market still expects prices to go higher.

During the rally earlier in the year, values consistently remained in the extreme greed category, and corrections only caused temporary declines in the indicator.

This means that if the market has to continue making newer ATHs, the market sentiment should remain greedy, otherwise the bull run might start losing steam

Featured image from iStock.com, charts from TradingView.com, Arcane Research
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