The crypto market has experienced a positive macro event, resulting in a scaled-back market valuation of $1.19 trillion. Bitcoin is leading this major uptrend, making a strong comeback to the $30,000 price tag. However, it is not the only major beneficiary of this bullish sentiment. Ethereum Classic, a popular proof-of-work (PoW) protocol, has also experienced significant growth, surging over 23% in the past week. This impressive uptrend is attracting investors back into the market.
At press time, Ethereum Classic is trading at $18.95, indicating an uptrend of 11.17% in the past day. The growth trajectory has since spilled into its long-term gain, with Ethereum Classic garnering 23.8% in the past week and a 6.19% increase in the last 30 days. However, its 90-day break has not been promising, as the PoW coin experienced a slump of 5.65%. Meanwhile, its 180-day growth is at an impressive 16.54%, while a year-to-date (YTD) performance of 20.38% has given investors an uplift.
For its technical performance, Ethereum Classic is bullish, given that its 50-day simple moving average (SMA) price of $17.64 is below its current price trajectory. However, there is a close match-up in its 200-day SMA price of $19.84, which means a continued market uptrend could see it break above this long-term resistance point. Other technicals show that Ethereum Classic’s relative strength index (RSI) oscillator figure stands at 68.14, which is rapidly progressing toward the overbought region. The asset’s moving average convergence divergence (MACD) shows a strong buy signal, indicating a growing buying pressure on the first-ever smart contract protocol.
Additionally, the Ethereum Classic protocol has accumulated a strong fundamental base to support its bullish price trajectory. It has recently been added to lists of assets supported by Web3 portfolio tracker DeBankDeFi. The token is one of the crypto industry’s biggest altcoins and has built a strong reputation over the years.
Wall Street Memes: The Next King of Meme Coins?
Savvy investors are hunting for promising projects with huge upside potential. One such project is Wall Street Memes. The GameStop saga of 2021 brought the world to a standstill due to a standoff between retail investors championed by the WallStreetBets subreddit and institutional investors. The WallStreetBets phenomenon has now extended into various industries, including the crypto space.
In the emerging industry, the Wall Street standoff represents a radical move and a celebration of the internet’s triumph over rampant capitalism. This is reflected by the Wall Street Memes project, which is a full compilation of all financial memes. Through blockchain technology, Wall Street Memes aims to tokenize this entire experience, offering investors an opportunity to profit from seemingly worthless coins.
What sets Wall Street Memes apart is its impressive track record. The project team was responsible for the successful launch of the Wall Street Bulls NFT collection on the Ethereum network, which sold out in under 32 minutes. The team has also launched a similar operation on the Bitcoin network with the Wall Street Bulls Ordinals NFT collection. The meme coin project has already garnered significant attention in the crypto space, with influential figures like Elon Musk engaging with it. Moreover, Wall Street Memes has amassed a community of over 1 million subscribers, reflecting its growing popularity.
With meme coins being a major attraction in the crypto space, Wall Street Memes could become the next king of memes following its strong community base. This would easily transmute to a tier-1 listing in no distant future. Like most crypto projects, the cutting-edge project is backed by a network token called $WSM. Currently in its presale stage, the $WSM token has already raised over $10 million within a month of its launch, indicating a strong investor base backing the project’s subsequent success in the near term.
Institutional investors have flooded the crypto market in the past week, with many filing for Bitcoin spot exchange-traded funds (ETFs). This influx has breathed new life into the financial landscape, resulting in a north trajectory growth of $1.2 trillion. Among the altcoins enjoying a massive uptrend is Ethereum Classic. The growth trajectory has spilled over into its long-term gain, indicating a strong bullish trend. Additionally, Wall Street Memes, a fast-rising crypto project, is garnering attention on the internet, offering earning opportunities to investors with its impressive track record and strong community base.