It has been a volatile few days in the cryptocurrency market, with most coins and tokens recording significant losses.
Various external factors have caused this downward momentum, contributing to the high level of investor uncertainty.
However, not all cryptocurrencies are seeing declines – pre-sale projects Bitcoin Minetrix (BTCMTX) and Meme Kombat (MK) are defying the downtrend and receiving significant interest from investors.
Cryptocurrency prices decline amid economic and geopolitical concerns
As proven Coin360 heatmapThere is a sea of red in the cryptocurrency market, indicating widespread losses across various currencies and tokens.
Bitcoin is down nearly 1% in the past 24 hours, while Ethereum is down nearly 2%.
Smaller cryptocurrencies, such as Avalanche and Polkadot, were not immune to the downward momentum, as they also saw significant declines.
This widespread selling can be attributed to several factors related to the macroeconomic and geopolitical situation.
First, US CPI data is due this week, which will likely influence the Fed’s interest rate decision in November.
If CPI data comes in higher than expected, that could put pressure on the Fed to raise interest rates again before the end of 2023 — dampening investor enthusiasm for riskier assets like cryptocurrencies.
Second, the ongoing conflict in Israel has exacerbated geopolitical tensions, causing investors to reassess the level of risk they face.
currently, Fear and Greed Index in Cryptocurrencies With a value of 50, indicating a “neutral” sentiment from investors.
However, with crypto prices falling across the board, sentiment could quickly tilt towards “fear” – causing more short-term selling.
Which new coins are showing bullish momentum?
While the broader market grapples with economic and geopolitical instability, some new tokens are bucking the trend and attracting investors’ attention.
Among these products, Bitcoin Minetrix and Meme Kombat stand out due to their unique use cases and strong pre-sale performance.
Stake-to-Mine Project Bitcoin Minetrix Defies Downtrend, Approaches $900,000 Funding Amount
Bitcoin Maintrix (BTCMTX) It is a leading Stake-to-Mine platform built on the Ethereum blockchain that seeks to revolutionize the cloud mining sector.
The Stake-to-Mine mechanism allows users to stake BTCMTX, Bitcoin Minetrix’s native ERC-20 token, to earn cloud mining credits.
These credits can then be burned for Bitcoin mining time or a share of mining revenue.
Through this process, ordinary investors can access the potential of cloud mining while protecting themselves from issues that plague the sector, such as a lack of transparency and user control.
Moreover, investors can also stake their BTCMTX tokens to earn recurring revenue, Specified at 680% annually.
As shown in Bitcoin Minetrix Whitepaperthe token setup is designed to support this mining and staking approach, with 42.5% of the total BTCMTX supply allocated to funding cryptocurrency mining operations.
Another 15% of the offer will be used for community rewards, including the recently launched $30,000 “Minedrop” giveaway aimed at driving engagement within the community.
These elements have combined to create tremendous buzz around the ongoing Bitcoin Minetrix presale, which is currently in Phase 1 of 10.
Over $870,000 in funding has already been raised, with potential investors able to acquire BTCMTX tokens for just $0.011.
With high profile names like Michael Froebel Project endorsementBitcoin Minetrix appears to be a token worth watching given the difficulties facing the broader cryptocurrency market.
Meme Kombat’s momentum continues to grow as betting and wagering features attract attention
Another symbol that remains bullish amid market uncertainty is… Meme Kombat (MK).
Meme Kombat is an innovative gaming platform that allows users to purchase and stake MK tokens to bet on AI-powered battles between meme characters.
The outcome of these battles is determined on-chain – users can win more MK tokens by choosing a winner.
Besides this betting aspect, owners of MK You can earn returns of up to 112% annually By signing their codes.
This dual-win approach has received praise from members of the cryptocurrency community, especially when combined with Meme Kombat’s funny and friendly branding.
Regarding the tokens, 50% of the total supply of MK has been allocated to pre-sale investors, while 10% will provide DEX liquidity once the token makes its market debut.
Notably, there is no team customization, indicating that the focus is on community-led growth and decentralization.
This setup caught the attention of the LGBT community, with more than 1,600 people joining in Mimi Kombat channel on Telegram In recent weeks.
The hype has also translated into pre-sale excitement, since more than $420,000 in early-stage funding has been raised so far.
With MK tokens being offered for $1,667, many early backers believe that participating at this low price point could provide significant future gains if Meme Kombat continues its upward trajectory.
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