Bitcoin, KangaMoon, and Lido DAO Reach New Highs, Outpacing Inflation

May 26, 2024 at 5:28 am

Bitcoin liquidations hit over $99 million amid market optimism

After Bloomberg senior ETF analysts revised their approval probability on the Ethereum ETF, the broader market experienced enthusiasm, with most altcoins increasing in value. While Bitcoin’s price increased, investors in short positions were left in reverse and liquidated. According to CoinGecko data, more than $340 million was liquidated in crypto futures after the bullish Ethereum news.

Evidently, $263 million of these liquidated funds were for short positions investors, whereas $77 million was for long positions. Moreover, more than 78,000 investors liquidated their assets, with the majority share taking place in the ETH-USDT transaction on the Huobi exchange. The most significant liquidation happened in Ethereum with $115 million, followed by Bitcoin with $99.9 million. Experts see the price of Bitcoin adding substantial gains in the coming days, hence among the top cryptocurrencies to invest in 2024.

Lido DAO updates ReGOOSE vision—price reacts

Meanwhile, Lido DAO has been making headlines in the broader market for its double-digit increase in value. The recent price surge for the altcoin is attributed to various factors, including the proposed reGOOSE vision update, which will be discussed in the Lido DAO forum in the next few days. Moreover, the Lido DAO coin enjoyed additional gains in value due to the Ethereum surge.

According to a well-known analyst, World Of Charts, the price of Lido DAO is moving the way it’s supposed to. He noted that the price has been forming a falling wedge, and in the event of a Lido DAO coin breakout, the altcoin could record a 60-65% bullish wave in the next few days. The bullish Lido DAO price prediction is backed by a 395% bounce in trading volume. Thus, Lido DAO is currently among the best coins.

KangaMoon poised to outshine rivals

KangaMoon has drawn attention in the crypto market with its presale performance and strategic combination of blockchain-powered P2E games in an ecosystem fueled by SocialFi elements. The unique features have positioned the KANG token as a prime candidate for BitMart and other Tier-1 CEX listings, especially after it launches in Q2.

Remarkably, the project has already raised nearly 7 million and is now eyeing the $8 million mark by the end of May. Additionally, it has attracted over 32,000 registered members and around 10,000 holders, with a 400% ROI in price value. The excellent presale performance can be attributed to the project’s vast ability to sustain an economic model and its token utility. This cements its position as one of the leading coins.

Moreover, the KANG token will act as a reward incentive and in-game currency in the ecosystem. These multiple functions have solidified the KANG token as a contender in the play-to-earn gaming and altcoin markets. Notably, the KANG token is attractively priced at $0.025, rising from its initial offering of $0.005.

Strategically, the altcoin is set to access the gaming NFT play-to-earn industry, projected to increase with a CAGR of around 17% and reach $8856.95 million by 2028. KangaMoon could potentially open up this market for its investors. Thus, experts hint at future astronomical growth for the altcoin, suggesting that it could jump 100x by the end of 2024.

Conclusion

As Bitcoin continues to record bullish momentum and the Lido DAO network upgrades its ecosystem, which resulted in a price upswing, KangaMoon has become a contender in the digital asset industry at its presale phase. With a vast ecosystem, token utility, and play-to-earn opportunities, KangaMoon is a promising crypto coin for investors looking to diversify their holdings.

To learn more, visit the Kangamoon website or join their telegram community.

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