Kava's Price Surges to $1.1 Following Coinbase Listing - Is It Worth Investing in This Cryptocurrency Now?
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Amidst the sea of digital assets, Kava managed to burst through numerous resistance zones, courtesy of a broader audience. This week, Coinbase, the renowned exchange, listed KAVA for trading, giving its supporters a much-needed boost as they grappled with a dense seller's zone around the $0.80 mark.
The token's value soared above $1.10 – a milestone not seen since early November when the crypto market was still reeling from the effects of the FTX fallout. KAVA, a decentralized token leveraging the power of both Cosmos and Ethereum networks, is currently showing a slight increase of 9%, trading at $1.02 during the European morning hours on Thursday. Bulls are hopeful that this support will hold firm, keeping gains from being diluted by a potential drop to $0.70 or $0.52.
Coinbase Adds Support for KAVA, Sparking a Price Surge
Kava's price took a significant leap in response to an announcement by Coinbase Assets, revealing that they would add support for KAVA on their platform. However, investors were strongly advised to refrain from sending the token across other networks to prevent potential loss of funds. Inbound transfers for KAVA have been enabled on both Coinbase and Coinbase Exchange for regions where trading is permitted.
curious about KAVA's addition to Coinbase? Here are some tweets from Coinbase Assets regarding the listing:
Record-Breaking Trading Volume as Kava Climbs Above $1
Investors are showing their enthusiasm for the Coinbase listing by purchasing KAVA in droves. As per data from CoinMarketCap, the trading volume spiked to $420 million in a single day, marking a staggering 1,088% increase. Kava's market cap has also grown by another 10%, reaching $393 million, and securing the 88th spot in the crypto rankings.
While Kava trades comfortably above its 100-day Exponential Moving Average, the momentum from the 'Coinbase Effect' has started to fade upon touching the declining upper trendline, causing the bulls to take a step back for some needed liquidity.
Notice the whimsical recovery pattern resembling a V-shape, driving Kava's price up to $1.70. On the same chart, the Money Flow Index (MFI) emphasizes the prevalent bullish sentiment in the market. As more funds flow into the Kava market than outflow, the MFI indicates an overbought situation.
Furthermore, the Moving Average Convergence Divergence (MACD) indicator signals a buy, further bolstered by its position above the mean line. If the MACD maintains this upward trend, Kava's price will gain momentum for gains headed towards $1.70 and $2.00, respectively.
However, it's essential to remain open-minded as a pullback could gather speed beneath the 100-day EMA. Traders looking to short KAVA may find an opportunity following a confirmed break and hold below $1.00. From this point, they can target potential profit-taking at the 50-day EMA ($0.70), or the next critical support level at $0.52.
Beyond Kava: Opportunities in Upcoming Altcoins
As investors ponder their crypto picks for 2023, they may be interested in emerging altcoins with the potential to deliver impressive returns. Below is a list of carefully selected altcoins with solid fundamentals and the potential to disrupt the crypto scene while revolutionizing various industries.
Meta Masters Guild (MMG)
Behind this daring play-to-earn project is a simple yet powerful approach to find success in the rapidly growing crypto sector. Meta Masters Guild proposes providing blockchain-based games for free, unlike existing platforms such as Axie Infinity, The Sandbox, and Decentraland, which require users to purchase expensive NFTs to play.
Meta Masters Guild will grant rewards to players for their time invested in the games using a currency called Gems. Players can utilize these Gems to buy in-game NFTs or exchange them for cryptocurrencies such as ETH.
🔥 The Meta Masters Guild presale has raised over $550K! 🔥 🤯 Over $50K was raised in a single day! 💪
🚨 Stage 2 is now live! Grab your MEMAG tokens before the price increases! 🚀 https://t.co/SBqVjX5mWn
📢 Follow us for updates on MEMAG! @MEMAGgames
- Meta Masters Guild Games (MEMAGX) (@MEMAGgames) January 18, 2023
The Gems can also be exchanged for MEMAG tokens to earn more rewards through staking.
🔗: Visit Meta Masters Guild Now.
FightOut (FGHT)
As the world becomes increasingly health-conscious, it's vital to motivate and incentivize a fitness lifestyle. FightOut is a move-to-earn (M2M) fitness app and gym chain, gamifying the fitness experience.
Users on the platform are rewarded for completing workouts and challenges, earning badges, and growing within a thriving ecosystem.
The FightOut presale has already raised $3 million, far surpassing its first confirmed exchange listing – L Bank. Interested investors can still purchase FGHT tokens using the link below to take advantage of a 50%-time limited bonus.
🔗: Visit FightOut Now.
C+Charge (CCHG)
The carbon credit industry has traditionally been reserved for big corporations. C+Charge, however, believes that every electric vehicle driver should also benefit. The crypto platform plans to launch with a mobile application and charge stations, introducing a P2P payment system using blockchain technology.
Users on the platform can pay for charging services at stations across the globe with CCHG tokens, stored in an electronic wallet.
C+Charge's presale is currently underway with 1 CCHG sellling for 0.013 USDT. Over $307k has been raised since the presale started. A mere 135 million tokens are left before their price increases to 0.0165 USDT.
🔗:Visit C+Charge Now.
If you're intrigued by these altcoins, be sure to keep an eye on their performance and future developments in the dynamic world of crypto. Join our Telegram channel to ensure you never miss any important updates.
- As the investigation of Kava's sudden surge continues, some believe the addition of KAVA to Coinbase might have played a significant role, as blockchain technology and altcoins are key areas that attract many investors in the finance industry when considering opportunities for investing in technology.
- The recent rise of Kava has also sparked curiosity about other altcoins, such as Meta Masters Guild, FightOut, and C+Charge, which may provide impressive returns by disrupting the crypto scene and revolutionizing various industries, as Blockchain technology continues to reshape the future of finance and technology.
