Hidden Gems: Unveiling the Top 4 Under-the-Radar Cryptos Set to Soar in 2024

https://www.fxstreet.com/cryptocurrencies/news/hidden-gems-unveiling-the-top-4-under-the-radar-cryptos-set-to-soar-in-2024-202311231558

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In the crypto realm, there are significant updates regarding regulatory and legal aspects in the crypto world. The U.S. Department of Justice has deemed Changpeng Zhao, the would-be-former CEO of Binance, as an ‘unacceptable risk of flight’ and suggests he should remain in the U.S. This development comes amidst Binance’s $4 billion settlement and raises questions about the future of spot Bitcoin ETFs (Exchange-Traded Funds).

On the plus side, the global community is witnessing movements towards the adoption and testing of crypto technologies. South Korea plans to invite 100,000 citizens to test its Central Bank Digital Currency (CBDC) in 2024. This indicates a growing interest and investment in digital currencies by national governments.

On top of that, market analysts are actively discussing the potential impact of recent events on cryptocurrency prices. Specifically, there is speculation that Bitcoin’s price could surge to $141,000 if an ETF approval occurs. Such analyses provide insights into the possible future trends in the crypto market.

Amidst this mixed background, several altcoins seem to be promising bright prospects for investing. Among these, Aptos (APT), Liquity (LQTY), Render Token (RNDR), and LeverFi (LEVER) stand out as particularly noteworthy. According to Mike Ermolaev, the founder of Outset PR and crypto market analyst for FXStreet, these altcoins bring potential to the table, attracting attention from both investors and crypto enthusiasts.

Aptos (APT): Technicals Indicating Steady Growth

Aptos (APT) is showing a promising trend. Trading between $6.53 and $7.37, it has added 17.85% in a month. The technical analysis reveals a generally neutral to positive outlook, with several indicators suggesting potential for growth. The Relative Strength Index (RSI) for Aptos stands at 55.87, indicating a neutral market momentum. The Awesome Oscillator at 2.11, however, is signaling a buy, hinting at a potential upward movement in price.

In terms of moving averages, Aptos (APT) is showing strong buy signals across various time frames. Specifically, the EMA 200 stands at 6.84 and SMA 200 is at 6.72, reflecting a consistent upward trend in the short and long term. The resistance levels at $8.11 and $9.16, and support levels at $5.35 and $3.64 suggest that APT has room for upward movement before encountering significant resistance.

Aptos graph

Overall, the technical analysis of Aptos (APT) paints a picture of a coin with a stable and potentially growing market presence. The predominance of buy signals in moving averages, combined with neutral oscillators, indicates a balanced market sentiment with a leaning towards growth. At the same time, these indicators form a part of a broader analysis, so due attention should be given to the inherent volatility and risks associated with cryptocurrency investments.

Liquity (LQTY): Strong Bullish Trend Ahead

Liquity (LQTY) is exhibiting a mixed trend in the cryptocurrency market, with its price between $1.3359 and $1.5644. According to the Relative Strength Index (RSI), the index is at 44.89, which is neutral, and other indicators, such as the Stochastic %K, Commodity Channel Index (CCI), and Average Directional Index (ADI), support this stance. In other words, the LQTY market seems to be in balance.

Liquity Graph

The resistance levels for LQTY stand at $2.3163 and $2.9898, and support levels are at $0.9399 and $0.2370. These figures suggest that Liquity may face resistance in the short term if it attempts to move upwards, while having some support at lower price levels. Notably,  Liquity recently broke above the 200-day moving average, a significant bullish signal. This was the second major bullish breakout since overcoming the lower highs trend line of the bear cycle. 

The mixed signals from oscillators and moving averages suggest a market that is currently uncertain, with potential for both upward and downward movements. At the same time, there is a view that LQTY might have reached its bottom, with serious upside potential. Anyway, one should keep in mind the volatile nature of this asset and weigh these ideas against their own research and risk tolerance.

Render Token (RNDR): Hitting Crucial Milestone Paves Way for More Gains

Render Token (RNDR) is showing a mixed but predominantly positive trend, trading between $2.43 and $3.96. The Relative Strength Index is at 65.6794, which is neutral, while the Momentum indicator at 1.7091 and MACD at 0.3200 are signaling a buy, suggesting some bullish momentum.

RNDR Graph

In terms of moving averages, Render Token shows a strong bullish trend. The Exponential Moving Averages (EMA) at 1.9251 and Simple Moving Averages (SMA) at 1.9650 for 200 days are all indicating buy signals, reflecting a consistent upward trend. The resistance levels at $2.8633 and $3.3449, and support levels at $1.7165 and $1.0513 suggest that RNDR has room for upward movement before encountering significant resistance.

Render Token recently achieved a notable milestone by reaching a price above $3 for the first time in 600 days. This development indicates a resurgence in investor interest and market confidence in RNDR, potentially signaling a positive trend for the token.  

LeverFi (LEVER): Getting Ready for a Mighty Jump 

LeverFi (LEVER) is fluctuating between $0.0012 and $0.0015. The Relative Strength Index is at 42.0873, which is neutral, suggesting a balanced market without strong overbought or oversold conditions. Meanwhile, both EMA 200 and SMA 200 at $0.0013 indicate a bearish trend in the longer term. 

The pivot point analysis indicates the resistance levels are at $0.0026 and $0.0039, while support levels are located at $0.0011 and $0.0008. These figures suggest that LeverFi may face resistance in the short term if it attempts to move upwards. In the best-case scenario, LeverFi may offer a potential for 400-700% returns.

LeverFi Graph

This optimism is based on the observation that a local downtrend has been broken and a long-term support level has been holding for months. The price being above EMA100 and lower EMAs indicates a strong bullish bias. So, LeverFi could be poised for significant upward movement.

Conclusion

In conclusion, the current landscape of the cryptocurrency market is marked by a blend of regulatory challenges and growing global adoption, setting a dynamic backdrop for various altcoins. Among them, Aptos (APT), Liquity (LQTY), Render Token (RNDR), and LeverFi (LEVER) are showing significant promise. Aptos displays a stable and potentially growing market presence, while Liquity, with its recent bullish breakouts, suggests serious upside potential. Render Token, having reached a significant milestone, is poised for further gains. LeverFi, overcoming a local downtrend, could be on the cusp of a substantial upward movement. Each of these coins, with their unique trajectories and market signals, is worth keeping an eye on.  

 


A Flamethrower to the Fed

https://dailyhodl.com/2023/12/11/a-flamethrower-to-the-fed/

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One hundred eleven Bitcoin Ordinal inscriptions each representing the burning of $1 and $100 US bills have caught the attention of enthusiasts and the Web 3.0 media.

All are trying to understand the symbolism behind turning into ashes the equivalent of $10,101 while risking jail and fines, given that it may be illegal to light up cash in the United States under Federal Law.

Anciently, burning money had spiritual symbolism. For thousands of years, people in China burnt money for the spirits of deceased family members, ancestors and myriads of demons and divinities.

In Buddhist belief, burning money enables ancestors to purchase luxuries and other things they need for a comfortable afterlife.

The act of publicly burning bills or other forms of fiat currencies currently has two main objectives artistic expression and protest.

Often, burning money is a way to point out how worthless fiat currencies are.

History of burnt currency

The act of burning currency is well-versed across history and the world.

In the early 18th century, New York City courts publicly burned counterfeit bills they seized to show people how dangerous and worthless fake money is.

Of course, back then, the US monetary system was backed by the value of physical gold.

That is no longer the case, so many argue that US notes are about as worthless as counterfeit bills.

In 1984, the popular French celebrity Serge Gainsbourg burned a 500 Francs banknote on television to protest the elevated taxes.

Arguably, the most dramatic money burning occurred in August 1994 when Bill Drummond and Jimmy Cauty of the electronic dance music band KLF set £1 million in cash on fire on a Scottish island designed to challenge anti-capitalism, corporate power and copyright laws.

In 2010, Swedish Feminist Initiative spokeswoman Gudrun Seeman burned 100,000 Swedish kronor during a speech about the gender pay gap.

Eight years later, the artist collective Distributed Galleries created two machines called Chaos Machines that burn banknotes and convert them into cryptocurrency while playing music.

As recently as August 2023, Argentinian football soccer fans burned and tore bank bills, mocking the country’s spiraling inflation.

Local authorities responded to these actions, saying those caught destroying the local currency could face up to 30 days in jail.

Burning dollars in the US

Although the 111 US bills burned for the enigmatic collection, as referred to by a recent news report, were burned for artistic reasons, they also seemed to have been put up in flames to protest against monetary systems worldwide.

According to several reports, the US dollar has lost nearly 97% of its purchasing power since 1913 because of monetary policies.

It demonstrates that a $100 bill printed in 1913 would only be worth $3.87 in 2019.

Satoshi’s anti-banking sentiment

These latest Ordinals creators seem to share the vision of Satoshi Nakamoto, the founder of Bitcoin, who, in Bitcoin’s block one on January 3, 2009, hid the following mysterious message – ‘The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.’

Since then, Bitcoin enthusiasts have shared Satoshi’s anti-banking system sentiment and the notion that fiat is worthless while affirming that BTC has all it takes to replace the US dollar as the global reserve currency.

This new Ordinals collection has created an apparent ambiance riddled with mystery, as Satoshi Nakamoto created before vanishing from the face of our planet, leaving no trace.

One hundred eleven anonymous child inscriptions sit on Ord.io, and it makes sense that they have no identifiable person behind them as they are full of symbolism and even protest.

The burnt bills are worth a total of $10,101.

Each of them represents the actual burning of Federal Reserve (US central bank) notes, which is prohibited under 18 U.S.C. § 333 – mutilation of national bank obligations is punishable by up to 10 years in prison and significant fines.

However, these laws were largely put in place to stem currency manipulation through counterfeiting and the US Government is more concerned about people printing their own money rather than setting it on fire for artistic or performance purposes.

A case in point comes from an incident at a nightclub in Atlanta, Georgia, in 2011. Then world boxing champion Floyd Mayweather was filmed publicly burning a $100 bill among revelers.

A national debate raged afterward about the legality of destroying or defacing legal tender yet Mayweather was never spoken to by the police, let alone charged with a crime.

Professor Felicity Gerry, an International King’s Counsel with expertise in financial crime, said,

“It may not be in the public interest to prosecute a performative act of art, and as a form of protest it may be protected by relevant free speech laws. In the US, free speech has Constitutional protection.

Gerry is also a member of the ‘art not evidence’ campaign to protect rap music from being used as evidence of gang affiliation in court.

Sending a clear anti-fiat message

According to sources close to the anonymous creators, who also demanded anonymity for obvious reasons, these Ordinals’ creators are keen on sending a clear anti-inflationary and anti-banking message to the Fed and other central banks.

“Central bank notes or bills are not worth the paper they’re printed on, which is why they might have assigned a greater value to the $1 bill than the $100.

“I’ll explain. According to a Federal Reserve report, a one-dollar bill costs 2.8 cents to print, while a $100 note costs 8.6 cents. That means having one hundred one-dollar bills would be more valuable than having just one $100 note.”

Although Ordinals went from hype to silence for a short period, including a 97% drop in trading volume, their popularity is again picking up, showing promise for Bitcoin, its network, OGs, purists and even regular users.


Mike Ermolaev is the founder of Outset PR, an agency that specializes in cryptocurrency public relations. The crypto industry has been his focus since 2017. Mike has also penned articles for renowned publications such as Investing, BitcoinMagazine, FXStreet, Benzinga and Invezz. He is also a frequent guest commentator on CoinTelegraph Brazil.

 

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