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 growth in Bankman-Fried’s case, what’s the greatest crypto to purchase now?
In her statements to the court, Ellison admitted to felony actions throughout her management of Alameda. Crucially, she additionally straight implicated Bankman-Fried in systematically misusing billions of {dollars} in FTX buyer funds.
In accordance with accounts, Ellison claimed Bankman-Fried “arrange the methods” that enabled Alameda to improperly divert buyer property from FTX to Alameda’s funding actions. She acknowledged that below Bankman-Fried’s path, Alameda “took a number of billions of {dollars} from FTX prospects.”
Ellison’s testimony provides critical backing for the prosecution’s charges of fraud against Bankman-Fried. Her statements painting him because the driving drive behind Alameda’s alleged misuse of buyer funds, whereas she cooperated in deceptive actions.
FTX collapsed in November 2022. Bankman-Fried faces seven felony 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 comply with 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 traders searching for alternatives may wish to take into account researching Tezos, Bitcoin Minetrix, Cosmos, Meme Kombat, and XDC Community.
These cryptocurrencies are at the moment staking their declare as the very best to purchase now, due to their sturdy fundamentals and/or optimistic technical evaluation.
Tezos (XTZ) Value Holds Floor in Buying and selling Vary Amidst Uptick
The XTZ worth has seen a slight uptick at the moment, gaining 6.02% to commerce round $0.687. Nonetheless, 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 the moment stands at 53.17, up from yesterday’s 41.17. This exhibits gathering bullish momentum within the XTZ worth. Nonetheless, with the RSI nonetheless beneath 70, XTZ will not 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 detrimental.
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 affirm a breakout from the long-term buying and selling vary.
On the draw back, rapid help lies between $0.629 to $0.636. If this offers means, the XTZ worth may 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 shifting averages. A decisive breakout above resistance or breakdown beneath help is required to sign the following pattern.
Merchants could wish 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 to date in its ongoing presale, letting customers earn yields from Bitcoin mining with out the everyday mining dangers.
Bitcoin Minetrix offers a scam-free way to earn from Bitcoin mining, utilizing good contracts to automate the method.
The native token, $BTCMTX, is at the moment 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 supplied 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 tackle, and imprecise guarantees of mining yields. The MineLab web site seems swiftly thrown along with pretend buttons and no specifics on operations.
Bitcoin Minetrix units itself aside with an audited contract, public group data, and a transparent staking mannequin for incomes yields as much as 650% APY as of writing.
A complete of 4 billion tokens might be minted, with 7.5% allotted to stakers. Customers can earn from each staking rewards and future mining yields.
The mission has additionally partnered with main cloud mining suppliers to ship on its roadmap. The group’s transparency and a focus 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 very best crypto to purchase now.
The takeaway is evident – newcomers like MineLab could promise the moon however lack substance. In the meantime, Bitcoin Minetrix gives a compliant, audited technique to take part in Bitcoin’s progress.
For traders searching for passive earnings and crypto diversification, this forward-thinking platform is the clear alternative within the extremely aggressive Bitcoin mining scene.
Cosmos (ATOM) Value Caught Beneath Resistance at $7, Going through Draw back Stress
The ATOM worth has been struggling to regain momentum after its current selloff. ATOM is at the moment buying and selling at $6.707, down 1.83% on the day. With the worth properly beneath 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 beneath each these brief and long-term EMAs, this means sustained downward momentum. The widening hole between the EMAs exhibits rising detrimental sentiment.
The RSI is at the moment at 40.23, down from yesterday’s 43.32. This exhibits fading bullish momentum and the potential for additional ATOM worth declines. A studying beneath 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 detrimental worth reinforces the bearish momentum pervading the ATOM market at the moment.
With the ATOM worth down 1.83% to date at the moment to $6.707, the ATOM worth stays caught beneath the important thing $7 stage which has acted as resistance over the previous few days.
When it comes to potential worth ranges, ATOM faces rapid 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 may sign a bullish shift in momentum.
On the draw back, ATOM has rapid help between $6.574 to $6.692, together with the Fib 0.786 stage at $6.586. Shedding this help may 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 wish to wait on the sidelines for a definitive shift in momentum earlier than coming into new ATOM positions.
Cautious buying and selling centered on outlined danger limits is really helpful till ATOM can regain the important thing $7 resistance or holds above important help. The approaching days might 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 Lovers
The very best crypto to purchase now may 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 gives the $MK token at a reduced worth of $1.667 per token, translating to a modest $20 million market cap for one in every of 2023’s biggest crypto presales. Meme Kombat has established a fundraising objective of $10 million, allocating 50% of the entire 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 parts. $MK stakers stand to earn yields of as much as 112% APY as of writing. Presale consumers begin producing passive earnings 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 12 months.
Given the mission’s sturdy fundamentals and progress roadmap, the $MK token could also be the very best crypto to purchase now for traders 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 stress, with the cryptocurrency down 0.83% to date at the moment 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% to date in October.
From a technical perspective, the near-term outlook stays bearish for the XDC worth. The 20-day EMA at the moment stands at $0.05040 whereas the 50-day EMA resides at $0.05206. With XDC buying and selling firmly beneath each shifting 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 beneath the 50 midpoint, this signifies prevailing detrimental 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 may open up a check of the swing low round $0.03667.
With XDC nonetheless struggling beneath former help, the trail of least resistance seems decrease. Remaining defensive and capitalizing on oversold bounces appears prudent till the bulls can invalidate the sequence of decrease highs and lows.
Disclaimer: Crypto is a high-risk asset class. This text is supplied for informational functions and doesn’t represent funding recommendation. You may lose all your capital.