While Crypto Prices Are Bearish In October, Traders Pivot To These 3 New Cryptocurrency Tokens
Despite the hype around “Uptober”, the crypto prices have continued their bearish chop, underperforming the S&P500. The global crypto market cap is slightly in the red over the past day.
Bitcoin has corrected 0.5% over the last 24 hours - falling back to $27,500 mark and hitting an intraday low of $27,325 before a bounce.
The strengthening dollar, along with rising oil prices have concerned investors, who believe that the Federal Reserve will continue with its hawkish monetary policy. Furthermore, the Israel-Palestine conflict has added more uncertainties to the short-term prospects of crypto prices.
Popular trader @CryptoTony__, who has over 350k followers on X, believes that Bitcoin will see a depreciation to $20k before any further upside.
3 New Cryptocurrency Tokens To Buy While Crypto Prices Are Bearish
With Bitcoin and major altcoins displaying bearish tendencies, new presale tokens - particularly those offering high staking rewards - are growing in popularity. After all, such tokens are not affected by the broader market outlook and can display explosive growth after their launch.
With this in mind, let's take a look at 3 new cryptocurrency that can outperform the rest of the market.
Bitcoin Minetrix
Despite the turbulent market outlook, altcoin Bitcoin Minetrix continues to see a surging demand, having already raised close to $850k in less than two weeks.
After all, the project’s cloud mining platform allows retail investors to earn passive BTC mining rewards, without the technical expertise or upfront investment required to run a competitive mining operation.
Even before the launch of the cloud mining platform, investors can purchase their tokens and stake them in the presale itself, currently earning an APY of over 700% - irrespective of the token price or broader market outlook.
With such a passive income opportunity on the table, it is no wonder that experts like Jacob Bury are backing Bitcoin Minetrix as one of the best crypto to buy during a bear market. In less than two weeks of presale, close to 60 million tokens have already been staked,
Furthermore, while the crypto market has currently adopted a bearish stance, experts are still bullish on BTC in the long run as the upcoming Bitcoin halving is expected to flush the crypto market with new capital and start the next crypto prices bull cycle.
Under such circumstances, the Bitcoin mining industry will see a strong growth, particularly as miners’ BTC reserves and rewards surge in value. However, as always, wealthy corporations are expected to enjoy almost all of the profits. After all, just two mining pools - Foundry and Antpool - control 50% of the global hash rate.
It is impossible for retail investors to set up extensive and costly ASIC-based mining rigs and consequently, have no chance at winning the BTC mining rewards.
With Bitcoin Minetrix’s stake-to-mine mechanism, all one needs to do is to purchase $BTCMTX tokens and stake them in exchange for mining credits. These credits can either be burned for cloud mining time or for a percentage of the yields, both options leading to passive BTC mining rewards.
The tokenized approach also eliminates scams and long-term, cash-based contracts that have traditionally frustrated investors looking to enter the cloud mining sector.
Investors can purchase the token at a price of just $0.011 in the ICO through bank cards or by swapping ETH, BNB or USDT. However, this price will surge by 17% when the first stage of the presale ends in less than 7 days, or when its $1.54 million hard cap sells out.
Visit Bitcoin Minetrix Presale
TG.Casino
During short-term market turbulence, smart money traders often focus on sectors that are projected to display superior performance over a long term.
With the online gambling industry projected to grow at a CAGR of 11.7% and hit the $150 billion mark by 2030, GambleFi tokens like TG.Casino are backed by experts like Crypto Zeus to display a strong price potential after their launch.
In just over two weeks , the TG.Casino presale has raised close to $700k, almost reaching 70% of its minimum goal of $1 million.
Similar to other top online gambling platforms, TG.Casino offers access to hundreds of games and sportsbooks like the NBA and the NFL, along with the opportunity to compete in live events. However, in an unprecedented move, the project offers all its anonymous crypto gambling services on Telegram, without the burden of any KYC verification or any account setup.
Just like Bitcoin Minetrix, TG.Casino has adopted an innovative method to offer lucrative staking rewards. A portion of all casino profits will be used to buy back $TGC tokens in the open market - 40% of them will eventually be burned while the remaining 60% will be distributed as staking rewards.
The TGC staking pool is currently offering an APY of over 700%, with over 5 million tokens already staked in.
The project has also taken strong steps to provide top-notch security - after all, the recent $40 million hack on Stake casino has put the spotlight on the safety standards of crypto-based betting platforms. Thanks to TG.Casino’s integration with Telegram, the platform is protected by end-to-end encryption, on top of the regular audited conducted by Coinsult.
Telegram is also home to over a billion users, many of whom are crypto and gambling enthusiasts and could drive up $TGC’s demand. For example, the admin of the Crypto Whale Pumps group - who has 25k subscribers on Telegram - has recently purchased 10ETH worth of $TGC in the presale itself.
Meme Kombat ($MK)
During a bear market, strong and sudden spikes displayed by meme coins is a commonly observed phenomenon. In fact, one of the biggest causes of this year’s meme coin mania - which saw the rise of tokens like Pepe and Floki - was the continued lack of volatility displayed by Bitcoin.
According to experts like Michael Wrubel, Meme Kombat could be the next token to display a strong bull rally while other crypto prices remain lackadaisical. The new meme coin is generating tremendous enthusaism in its presale, having already raised $415,000 in just over two weeks.
The Meme Kombat will serve as a virtual battle arena between 11 characters - each of which will represent a viral meme coin like Pepe, Shiba, Doge, Spone and Wojak. Due to this strategy, $MK will be able to capitalize on the popularity of a wide variety of fictional characters, not unlike the eccentrically-named HarryPotterObamaSonic10Inu.
The platform will use AI-based dynamic visualization and random sequencing to make the battles fun and unpredictable, allowing a wide variety of betting opportunities to players, who can bet against other players or the house itself, on top of some exciting side action betting.
Every purchase made during the presale will automatically be staked and will start accumulating staking rewards - currently an APY of 112%. Upon the completion of the presale, investors can restake their tokens for one more locking period of 14 days and collect all the rewards they have earned since the presale.
Alternatively, they could unstake their tokens and forego the profits - this choice gives them total control of their investments and protects them from any rug pulls.
In short, Meme Kombat is an amalgamation of some of the trendiest crypto concepts, such as artificial intelligence, stake-to-earn, GambleFi and meme coins.
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