Inflation in the US Slows Down, Asian Stocks Rally
The Federal Reserve released a report revealing that inflation in the US has slowed down for the month of June. Despite this, Asian stocks rallied on Thursday, while the dollar nursed its losses. Investors in Asia also ignored data from China showing worse-than-expected contraction in imports and exports. Meanwhile, the central bank of South Africa announced that it will keep interest rates steady at 8.25%. In the crypto market, there was a 0.81% drop in the last 24 hours, with Bitcoin losing 0.31% of its market dominance. However, certain crypto assets are gaining strength and drawing more investment. The next move by the Federal Reserve in July is expected to influence investor sentiment.
The Next Cryptocurrency To Explode: Mr Hankey (HANKEY)
– Mr Hankey is a new memecoin project inspired by South Park’s Christmas poo, with its presale scheduled to begin on July 13th.
– The project has a rapidly-growing community and a hard cap of $500,000.
– Holders of the HANKEY token will receive rewards, although the exact distribution method is not yet known.
– Mr Hankey embraces its identity as a “turd” and promises unique “stink-nomics” that reward holders with every transaction.
– Traders and investors are encouraged to get ready for this new opportunity.
Bitcoin Cash (BCH)
– Bitcoin Cash has risen by 5% between Wednesday and Thursday, and its hourly charts show promising strides.
– It is trading at $285.96, with a support level at $272.7 and a resistance level at $295.
– For continuous upward movement, bulls need to push the price to around $300.
– If the resistance breaks and the price closes above $304, a rapid growth to $350 may be possible before the end of July.
– BCH is currently selling at $285.96.
Zcash (ZEC)
– Zcash is up by 2.93% and selling at $30.29, making it a promising cryptocurrency to explode.
– It has gained the most traction among privacy tokens, with a unique feature that allows users to choose which information to conceal or reveal.
– Investors looking for privacy tokens have the opportunity to invest in the renowned Zcash.
BitDAO (BIT)
– BitDAO is predicted to 50X this year, becoming one of the few cryptocurrencies expected to explode.
– With over $4 billion in total value locked, it is the largest decentralized finance project.
– The platform is undergoing rebranding and will be renamed to Mantle, while its native token, BIT, will be renamed to MNT.
– The rebranding phase will also bring the launch of new products, driving the price movement of BitDAO.
Hot Take
The crypto market continues to show signs of both volatility and opportunity. While inflation in the US slows down and Asian stocks rally, the crypto market experiences fluctuations. However, certain cryptocurrencies like Mr Hankey, Bitcoin Cash, Zcash, and BitDAO show promising potential for explosive growth. Investors and traders should keep a close eye on these projects as they navigate the ever-changing crypto landscape.
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