Top Crypto Gainers on September 14 – AXS, HBAR and CFX

The crypto market is green today, September 14, with a slight increase in market capitalization compared to yesterday’s figure. As of 10:26 AM EST, the global crypto market cap stood at $1.05 trillion, up 1.5% in the last 24 hours.

This increase is connected to a recent FTX report published earlier today. According to the report, FTX has been granted permission to liquidate its assets to repay its creditors.

The ruling revealed that the exchange holds a total of $3 billion, comprising assets like Bitcoin, Ethereum, and Solana.

Responding to this report, the market pacesetter, Bitcoin, recorded a 24-hour increase of 1.52%, and many altcoins followed suit. Below are some top crypto gainers in the market today.

Axie Infinity (AXS) – AXS Holders Join the Migration to Everlodge (ELDG)

#AxieInfinity holders in despair!

Data from @intotheblock shows that 99.54% of all addresses that bought/acquiered $AXS are currently out of the money. pic.twitter.com/tzQks7z2zJ

— Ali (@ali_charts) September 1, 2023

Axie Infinity (AXS) has recorded a 12% price increase in the last 24 hours, trading at $4.58 as of 10:40 AM EST on September 14. Also, its trading volume has climbed above $96.7 million, representing a 330% surge in the last 24 hours.

However, amid the growing price of AXS, there’s a growing concern about some holders liquidating their assets.

According to analyst Ali Martinez’s tweet on September 1, the funds of 99.54% of Axie Infinity’s addresses are currently depleting, highlighting a shift in investor sentiment.

As a result, some actively seek opportunities in alternative projects offering more favorable dynamics and growth prospects.

The potential shift in investment revealed in the news above could trigger asset reallocation or risk aversion, fostering a negative market sentiment in the coming days.

AXS Forms Green Consecutive Candle Stick – Can It Reach the Critical Resistance?

The notable surge in AXS price has reflected on the green candle formation, indicating increased buying pressure in the market today.

The coin’s Relative Strength Index (RSI) is moving upward at 48.67, confirming the surge in buying activities. If the rally continues, AXS’s RSI could reach 50, trailing toward the overbought zone (above 70). This means more price gains for the asset.

AXS’s Moving Average Convergence Divergence (MACD) is above the signal line, exhibiting green histogram bars, signaling bullish momentum. This observation suggests that more upticks could occur in the coming days.

Conversely, the coin has been below the 50-day and 200-day Moving Averages (MA) for a long period, showing the prolonged bearish market trend of AXS.

However, considering the positive market trend on the indicators, AXS’s rally could trigger a break out of the resistance level at $5.07, potentially setting its next target above the 50-day MA.

However, traders and investors should remain cautious as sudden fluctuations due to unforeseen events could affect the token’s price trajectory.

Hedera (HBAR) – Hedera Co-Founder Introduces Stablecoin Studio

At 10:56 AM, HBAR traded at $0.05133, representing a 6% 24-hour increase. Its trading volume is also growing, recording over 254% increase above $111.8 million within 24 hours. This performance could have stemmed from recent positive developments in the Hedera ecosystem.

At the prestigious TOKEN2049 event, Mance Harmon, one of the co-founders of Hedera, delivered an innovative presentation that could transform the cryptocurrency industry.

His announcement centered around the groundbreaking concept of Stablecoin Studio, offering a comprehensive solution to revolutionize Web3 platforms, issuers, financial institutions, and payment providers.

#Hedera Co-Founder @ManceHarmon takes to the stage at #TOKEN2049 to talk #Stablecoin Studio: the end-to-end stablecoin solution for #web3 platforms, institutions, issuers, and payment providers. @token2049

Explore ➡️ https://t.co/JYoPGw83Dw pic.twitter.com/3hupAWFFcK

— Hedera (@hedera) September 14, 2023

Following the announcement, Hedera shared the excitement surrounding Mance Harmon’s Twitter discussion of the Stablecoin Studio at TOKEN2049. This emphasized the studio’s potential as a game-changer for Web3 platforms.

This highly anticipated presentation at TOKEN2049 has now garnered the attention of cryptocurrency developers, enthusiasts, and industry experts alike. As such, the Hedera token (HBAR) could hit higher heights in the coming months, leveraging positive sentiment from increased exposure as more people engage with the network.

HBAR’s Rally Shows No Sign of Stopping – Can It Break the Two Resistance?

HBAR is bullish today as buyers form another green candle stick, reflecting the increased token purchase today.

The MACD line is now above the signal line, and its price rebounds from the support level of around $0.046. Also, the relative strength index is at 45.5, moving towards the overbought zone, suggesting increasing buying pressure as bears withdraw from the market. As such, HBAR could record more BUY trades before the weekend.

If this coin sustains this momentum, its next target would be the critical resistance levels at $0.057 and $0.069.

While the market may look appealing for investment, traders should enter cautiously as the coin’s overall market trend is bearish, considering that HBAR’s price is below the moving average (MA).

Conflux (CFX) – Completion of v2.3.0 Network Hardfork Upgrade Trigger More Uptick

On September 11, the Conflux (CFX) project development team tweeted on the X platform that the “Conflux v2.3.0 Network Hardfork Upgrade” had been completed.

📣 Conflux v2.3.0 Network Hardfork Upgrade is NOW COMPLETE!

🔹 Successful activation of CIP-107, CIP-112, CIP-113, CIP-118, and CIP-119.

🔹 Network is stable and running on v2.3.0.https://t.co/SbGBMbzR3O

— Conflux Network Official (@Conflux_Network) September 11, 2023

Following the upgrade, CIP-107, CIP-112, CIP-113, CIP-118, and CIP-119 were successfully activated. Now, the network is stable and functioning seamlessly on v2.3.0.

Since the upgrade was completed, Conflux’s token, CFX, has maintained its upward trajectory, hitting even new prices consecutively.

Today, the coin is up by approximately 4%, trading at $0.119, with its 24-hour trading volume also up by 78%, sitting at over $33.8 million.

CFX Remains Bullish Amid Overall Bearish Market Trend

CFX trades below the 50-day and 200-day Simple Moving Average (SMA), a bearish market trend in the short and long term.

Notwithstanding, the positive signals on other indicators suggest that the price could reach new levels amid fluctuations.

The green candle stick formation on the chart shows increased BUY trades, evident on the RSI, pointing upward at 39.98. This shows the possibility of a price rally to the overbought region (above 70) in the coming days.

Also, the MACD is above the signal line with a bold green histogram bar. This strong bullish momentum backing CFX’s price today could fuel its expected rallies amid persistent fluctuations this week.

Wall Street Memes – A More Guaranteed Investment Option Draws Closer to Its Launch on Exchanges

The Wall Street Memes (WSM) presale has been a resounding success, gathering over $25 million in funds. While the presale is at its final stage, interested investors and traders can still join to secure a slot before its tier 1 exchange listing at $0.0337.

Wall Street Memes aims to enrich investors by leveraging the ongoing meme revolution.

Moreover, the current data about meme tokens paints a positive picture as prominent meme coins Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) thrive in every crypto bull market.

Interestingly, the enthusiasm generated by the Pepe rally ushered numerous meme enthusiasts into the exclusive millionaire circle, and the WSM community aims to replicate this record.

Wall Street Meme – Unique Staking Feature for Passive Income

Besides being a meme coin, WSM has a unique stake-to-earn model to reward its holders with enticing APY returns.

Over 325 million $WSM tokens are currently in the stake pool, which might increase significantly as holders seize the chance to lock in their earnings.

Even though the APY may decrease as more tokens are added to the smart contract, it’s still expected to double when the project officially launches. This offers an extra incentive for potential buyers of $WSM.

If you want to be part of this revolutionary meme coin project, visit the Wall Street Meme site and buy $WSM before it lists in the next ten days.

Conclusion

The top crypto gainers in the market today are benefiting from several factors, like the broader market’s growth and recent developments.

On the other hand, an emerging token still in presale, Wall Street Memes, is attracting significant attention given its promising market outlook.

While these assets can be considered for investments, traders and investors should conduct adequate research and devise appropriate risk management strategies before making any decisions.

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