Crypto Market Rebounds: BNB and Arbitrum Show Strong Performance
The crypto market is gradually regaining strength as more tokens join the bullish train. Some of the altcoins that have hit their peak in recent weeks are BNB and Arbitrum, with investors alerted for possible investments. Meanwhile, KangaMoon is moving closer to its presale fund target of $8 million. With the project’s rare features, KangaMoon is on course to be one of the most promising altcoins to watch in 2024.
KangaMoon Token Sets to Hit $8M in Presale This Week
With the market rebound affecting BNB and Arbitrum, KangaMoon is also high on the wishlist of investors who are monitoring its progress. In a big milestone, KangaMoon has come close to $8 million in funding, reflecting its status as a top altcoin. Aside from that, KangaMoon has also grown its ecosystem to an impressive 32,000 members and 10,000 active holders.
Many users are attracted by KangaMoon’s exciting gaming activities and its generous rewards. The platform allows users to participate in various gaming competitions, rewarding them with many in-game assets. Even common social likes and comments attract a gift of tokens from the 250 million tokens reserved for in-game rewards.
KangaMoon has lived up to expectations in terms of ROI with analysts forecasting a big jump of 1000% in price profit. At the bonus stage of the presale, KANG is selling at $0.025. A big way of maximizing profit on KANG is to explore the platform staking dApp. This option allows users to stake their assets for some days and earn an increasing APY reward that is commensurate with the number of days for staking.
The KangaMoon presale is coming to an end this quarter, and exchanges like Bitmart have signified interest in listing the token. With official aggregator platforms like CoinMarketCap and CoinGecko also listing the token for more visibility, KangaMoon can be easily seen as one of the most promising altcoins. With a chance to become a leading gaming platform, KangaMoon has a good chance of hitting $1 in 2024.
BNB Token Retains Stronghold, Could Race to $700
BNB made a big impression in May, jumping from a price value of $556 to $629. The momentum has continued in June, with BNB climbing by 7% as the token looks to close in on $650. In the same vein, BNB’s market cap is currently smashing it and could hit $100 billion in the coming months.
From the technical analysis, BNB bulls are firmly in control, with the relative strength index (RSI) moving above the neutral line. With a move above the 20-day EMA value, BNB has outperformed Ethereum and Bitcoin in the past few weeks. With the bullish momentum set to continue, BNB’s price may hit $700 in June.
Arbitrum Price Stabilizes Above $1
After a month where the Arbitrum token made only about a 2% leap, the token has gone above the $1 threshold. Although the token declined in the past week, Arbitrum’s market cap still stays beyond $3 billion. This new increase has been attributed to the Arbitrum ecosystem, which currently holds the largest share among the layer 2 blockchains.
As for the market outlook, Arbitrum appears to be neutral with key market indicators such as the Relative Strength Index (RSI) indicating a bearish sentiment. However, the token trades above the 200-day exponential moving average (EMA), giving it a chance to gain bullish sentiment in the coming weeks.
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