The crypto market continues to display bullish growth, with Bitcoin trading comfortably above the $30k mark. Altcoins are mirroring BTC’s bullish strength, with Sui emerging as one of the top performers while Arbtirum is also pumping.
Arbitrum’s domination of the Ethereum Layer-2 space has resulted in a 18% surge over the past week while Sui has been even more dominant as it jumped 24% in the same period.
TradFi adoption, along with improving macroeconomic conditions, has resulted in high inflows into altcoins, including newly launched projects such as Launchpad XYZ, which has raised over $1 million and is continuing to quickly sell out its presale.
Sui and Arbitrum Display Explosive Bull Run, How Far Will They Surge?
The altcoin market is in a full-blown bull run, with investors stocking on high-utility tokens. Arbitrum’s technological innovation has made it one of the top picks of the pile, resulting in the token exploding almost 18% over the past week.
The token is holding to the $1.5 million market capitalization with a 24-hour trading volume of $350 million. Despite correcting 1% over the past 24 hours, the token is currently trading at $1.11.
After being a key player in the Ethereum Layer 2 space, Arbitrum has recently announced its push in the Layer 3 ecosystem. It released a suite of tools to help developers build L3 applications with the help of Orbit Framework.
TradingView, a technical analysis platform, gives a Buy signal to the $ARB token in the daily timeframe – the signal improves to Strong Buy when considering the important moving average indicators. Bulls now have their sight on the 50-day Exponential Moving Average at $1.13.
Sui has emerged as another winner of the current bull run as it has climbed over 24% to reach the $0.79 mark. The token is currently at a 497 million market capitalization, with the $500 million mark a strong possibility.
Sui’s emphasis on scalability and security makes it a key player in the next phase of crypto development and adoption.
Despite being down 19% over the past month, Sui’s technical analysis gives a buy signal to the token in the daily time frame. Furthermore, it is extremely close to hitting the 30-day Exponential Moving Average at the $0.84 mark. The Average Directional Index also points to an upcoming buying spree for the token.
The current bull rally is being driven by a high number of TradFi giants rushing into the crypto space. After BlackRock applied for a spot Bitcoin ETF, other institutions such as Citadel, Charles Schwabb, Valkyrie, etc. rushed to offer crypto trading.
Experts believe that the ongoing institutional adoption is insulating the market from the SEC’s hawkish stance. The Federal Reserve’s pause of interest rate hikes has also made the macroeconomic conditions favourable for a bull run.
What Other Tokens are Investors Backing?
Sui and Arbitrum’s success has shown the importance of high utility tokens. Furthermore, investors are backing tokens with strong community strength – presale performance is a strong indicator of this.
The Launchpad XYZ token is one such newly launched coin to watch out for, which has raised over $1 million in its presale.
New Web3 Analytics Platform Launchpad XYZ Hits $1 Million Milestone in $LPX Token Presale
Launchpad XYZ is a brand new presale project that has raised $1.02 million in a short span of a few weeks. It is developing an all-in-one Web3 portal that provides a wide range of tools for both crypto natives and newbies.
The crypto market is extremely volatile and can be overwhelming, especially for beginners. With Launchpad XYZ, users can navigate the complexities of the market with valuable insights and powerful trading products.
The Launchpad Quotient indicator ranks exciting digital assets based on their trust and confidence rating – it uses 400 data points to rank these assets. This is designed to help traders find the top new coins before they explode.
Furthermore, Launchpad’s TradingEdge platform will help you make informed decisions with the help of sentiment analysis and the latest market news – you can also know the trading setup of expert traders.
The token is currently priced at $0.0445 but will soon see a significant surge to its $0.0565 listing price. Investors can take advantage of early presale prices by purchasing the token through bank cards or by swapping ETH, BNB or USDT tokens.
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