Expectations are high as the multichain project Moonbeam (GLMR) spikes with a 17% increase ahead of their anticipated incentive program. Enthusiasts are speculating that this could drive activity within the Polkadot network to unprecedented levels. The growth in the project is noteworthy, as it is now considered the most dynamic parachain in the Polkadot ecosystem, boasting upward of 60,000 monthly active users.
The excitement surrounding the imminent Moonbeam Ignite program, scheduled to dispense 12 million GLMR tokens to its engaged users, has seen the token’s price increase by an impressive 71% over the week. This soars beyond its previous mark of $0.16, creating a vibrant atmosphere within the crypto markets.
Technical analysis shows that Moonbeam’s upward swing is not a fluke. On September 25, a standout 66% spike in market price was envisaged. The trend seems to imply Moonbeam’s market price is attempting to settle at $0.25, this could result in a trend reversal if the price surpasses the 200DMA mark unseen since April 16.
However, technical indicators suggest that the currency is overheated with an RSI of 77.34. Traders should approach with caution, as this reflects an overbought signal. A scenario that could spur consolidation at $0.25 or a possible price fall to $0.20. On the contrary, the MACD presents a strong bullish signal, reflecting the impressive momentum catalysed by the Moonbeam Ignite event.
The risk-reward ratio stands at 1:04 on the short-time frame – potentially indicating a need for patience and care. Nonetheless, the allure of fast gains has driven countless investors towards an emerging GambleFi presale.
TG.Casino is attracting considerable financier interest, raising a striking $250k in mere days. The excitement stems from TG.Casino’s integrative ecosystem that meshes the exhilaration of casino games with blockchain’s decentralised prowess.
The prospects for user growth remain high, owing to its simplified onboarding process. Additionally, the integral role of the $TGC token within the ecosystem, coupled with the offered staking APY of 3,446% during the presale, has compelled many to jump on board.
However, all prospective participants should exercise caution and perform detailed research before venturing into high-risk territories. Crypto investment is a volatile space. This information aims to enlighten and not advise. Remember, capital loss is palpable in any financial adventure.
Source: Cryptonews
