Binance and KangaMoon soaring, Chainlink is under pressure

February 28, 2024 at 9:48 am

Chainlink under pressure

Although it has great potential, Chainlink has become a victim of its own success.

When initially launched, founders, VCs, and developers received a large sum of tokens. These crypto whales are now selling Chainlink at alarming rates, forcing prices lower.

In the last week alone, Chainlink’s price has decreased by 0.66% while other altcoins have seen returns of over 10%.

This has caused Chainlink’s daily trading volume to remain low, with Chainlink being ranked the 24th largest cryptocurrency by trading volume, while being the 12th ranked crypto by market cap.

BNB finds resistance at $400

BNB soared over the last month, surging by 30%.

According to CoinMarketCap, BNB is now trading at $394.55 and has a daily trading volume of $2 million. However, market analysts expect prices to cool down in the next few weeks.

Presently, BNB is currently in an overbought zone, finding resistance at $400. Over the last 24 hours, it is down 1.03%.

Still, supporters say BNB may rally above $450 if Bitcoin hits a new all-time high.

KangaMoon gains traction

KangaMoon made headlines over the last week after round one of its presale sold out. Following this milestone, its utility token, KANG, added 50%.

Since hitting an all-time high, its popularity has snowballed. The project is gaining significant traction on social media, and now, over 3,000 investors have joined the project.

KangaMoon is unlike any other altcoin. It combines play-to-earn gaming opportunities with social-fi features to create a unique user experience. Users will have several opportunities to generate an income as part of this experience. These include competing in battles, placing bets on battle results, and interacting with other players.

Alternatively, users will be able to earn weekly, monthly, and quarterly rewards by completing challenges. Rewards will also be available throughout the KangaMoon presale for investors who help to spread awareness about the project.

Investors can currently get a 10% buy bonus on $KANG tokens, which are selling for $0.0075.

KangaMoon has been one of the best-performing altcoins in February. Its presale is gaining traction, and early investors have already made a strong return on their investment.

Experts now predict that KANG tokens will offer 220% returns during the KangaMoon presale. Such returns have helped KangaMoon catch the attention of top investors, and are expected to help KangaMoon build a strong ecosystem.