Broader cryptocurrency markets are in consolidation mode on Wednesday as traders await the release of the final major batch of US economic data of the year later this week, which includes the important PCE inflation report that is closely watched by the US Federal Reserve.
The Fed’s aggressive rate hikes in 2022 to tackle scorching hot US inflation has been cited by analysts as the main cause of the 2022 crypto bear market.
Bitcoin was last changing hands in the $16,800s and broadly flat on the day, meaning it is thus holding onto the bulk of Tuesday’s gains that saw it rebound from the $16,400 area.
But technicians remain pessimistic about the world’s largest cryptocurrency by market capitalization’s prospects for a further rebound after it found resistance at its 21-Day Moving Average (at $17,050) on Tuesday.
Ethereum, meanwhile, is also consolidating under resistance in the $1,210s, while the broader cryptocurrency market cap is hovering little changes near $770 billion.
Cryptocurrency markets have performed poorly in the final months of 2022 and, given the Fed’s refusal to budge from its hawkish stance that interest rates need to remain at deeply restrictive levels for some time, the outlook for a recovery at the start of 2023 isn’t great.
Investors might thus be looking for some alternatives that might be able to generate faster gains. Here is a list of a few cryptocurrencies to consider on the 21st of December.
FightOut (FGHT) – Presale Now On
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts itself as the future of move-to-earn, wants to change that in 2023. FightOut is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges and competing within a first-of-its-kind fitness metaverse.
While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part. FightOut seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms across all of the world’s major cities, whilst simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone application which, according to FightOut’s whitepaper, is scheduled for launch in Q2 2023.
The FightOut app will harness smartphone and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can mint their own soul-bound token avatar, through which the user will be able to interact with the FightOut metaverse.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to enter competitions and leagues with FGHT, and winning will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness wagers. FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.25 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
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Trust Wallet Token (TWT)
TWT, the native cryptocurrency that powers cryptocurrency wallet Trust Wallet’s ecosystem, was launched to record highs in the $2.70 per token area last month in wake of the FTX-collapse. That’s because the collapse of the centralized exchange bolstered the case for crypto self-custody, which is the service that Trust Wallet provides, with exchanges subsequently experiencing record outflows.
However, since a failed attempt earlier this month in breaking back above its November peaks, profit-taking has seen TWT slump around 43%. TWT/USD was last changing hands in the $1.55 area. So is all hope lost? Not quite.
TWT/USD’s technicals are still looking good. For one thing, the cryptocurrency recently found strong support in the form of a long-term uptrend that has been in play since May. Meanwhile, support in the $1.55 area appears, for now, to have held. A return to $2.70 record highs looks like it could be on the cards.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with a host of unique features. These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool.
Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $10.5 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in under one month.
Visit Dash 2 Trade here
Axie Infinity (AXS)
Axie Infinity, otherwise known as AXS, which functions as the in-game currency of the P2E non-fungible token battle game Axie Infinity, has found support at an uptrend that could set the stage for some near-term upside.
Bulls will be eyeing a potential retest of resistance in the form of the 21 and 50-day moving averages in the $7.50 area, which could open the door to a possible push higher toward a retest of $10. However, should the current support level break, AXS could just as easily fall back to annual lows in the $5.70s.
C+Charge (CCHG) – Presale Now On
The carbon credit industry is projected to be worth $2.4 trillion by 2027. Democratizing access to accrue these benefits is going to massive business in the years ahead and this is something crypto start-up C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow the drivers of electric vehicles (EVs) to earn carbon credits.
C+Charge aims to boost the role of carbon credits as a key incentive for the adoption of EVs. At present, large manufacturers of EVs like Tesla earn millions from selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to find themselves in the hands of the EV owners, rather than just the big businesses.
C+Charge has just started its pre-sale of the CCHG token that its platform will use to pay at EV charging stations. Tokens are currently selling for $0.013 each, though by the end of the presale this will have risen by 80%. Thus, investors interested in getting in early on a promising environmentally friendly cryptocurrency project should move fast.
Visit C+Charge here
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