PowerPod Collaborates with Mamotor to Launch a DePIN NFT on IoTeX Chain

Recent developments in the blockchain space are highlighted by the progress of Toncoin (TON) and Shiba Inu (SHIB), alongside the rising presale token Yeti Ouro (YETIO). Toncoin has made significant strides by launching the $TON Teleport $BTC feature, which facilitates trustless Bitcoin transfers to its blockchain using a synthetic token, tgBTC. This innovation aims to enhance the usability of Bitcoin in decentralized finance (DeFi) activities such as trading and yield farming. Currently, Toncoin is trading at $5.51, experiencing a slight daily drop of 0.19%, but maintains a robust market cap of $14.02 billion with a circulating supply of 2.55 billion TON. Despite a decrease in trading volume, technical indicators suggest that the token is poised for consolidation, indicating potential stability ahead. In the Shiba Inu ecosystem, the community's commitment to the SHIB burn initiative has led to the removal of 624 million SHIB tokens from circulation in just one week. This effort aims to increase the token's scarcity and long-term value. SHIB is currently trading at $0.00002531, reflecting a 2.53% increase in the past 24 hours, with a market cap of $14.91 billion. However, technical analysis indicates the formation of a bearish pennant pattern, suggesting possible downside momentum. Despite this, the active engagement from the community and ongoing burning activities may positively influence market dynamics, although the Average Directional Index indicates a low trend. Emerging in the presale charts is Yeti Ouro (YETIO), an Ethereum-based memecoin that has quickly gained traction, raising over $500,000 with more than 40 million tokens sold in just a few weeks. The project is centered around a play-to-earn game, Yeti Go, which utilizes the Unreal Engine for an immersive gaming experience. Early adopters are currently enjoying a 20% discount on purchases until November 25, further fueling investor interest. With its unique blend of blockchain technology and gaming, Yeti Ouro is positioning itself as a formidable competitor in the crypto landscape, alongside established tokens like Toncoin and Shiba Inu.

The Graph (GRT) has recently experienced a significant price movement, breaking out of a falling wedge pattern and reclaiming the crucial $0.20 psychological mark. Currently trading at $0.2106, the GRT price has shown a 3.48% intraday pullback after a rally that began at $0.1274. This upward momentum is indicative of a broader market trend, suggesting that GRT may be on the verge of a substantial bullish phase. As the price approaches a critical juncture, traders are left wondering whether this retest will lead to a bounce-back rally that could push GRT past the $0.30 mark. The daily chart analysis reveals that GRT's price action has not only surpassed the overhead resistance trendline but has also crossed above the 200-day exponential moving average (EMA), signaling a potential change in trend character. The breakout above the 23.60% Fibonacci level further reinforces the bullish sentiment. Following a notable 13.74% increase, the price action is currently in a retest phase of this Fibonacci level, with expectations of a continuation towards the next resistance at $0.2521, which corresponds to the 38.20% Fibonacci level. Technical indicators support the bullish outlook for GRT. The 50-day EMA is poised to cross above the 100-day EMA, hinting at a possible golden crossover on the daily chart. Additionally, the MACD indicator shows a gradual bullish trend, with positive histograms suggesting sustained upward momentum. If the bullish trend continues, GRT may challenge higher Fibonacci levels at $0.290 and $0.3292 by the end of the month. However, a failed retest could lead to a decline towards $0.18 or lower, emphasizing the importance of monitoring these levels closely.

The recent surge in price volatility among Liquid Staking Tokens (LSTs) indicates a burgeoning interest in active trading and speculative opportunities within the cryptocurrency market. In early 2024, the token $LDO saw a significant price increase, capturing the attention of both traders and investors. In contrast, $ANKR exhibited a consistent upward trend, showcasing the diverse strategies that investors are employing as they navigate the evolving landscape of LSTs. These developments highlight the dynamic market forces that are influencing the performance of individual tokens. Moreover, the Total Market Capitalization of Solana-based Liquid Staking Tokens has reached an impressive all-time high of $7.40 billion, reflecting robust demand for these digital assets. Among the leading tokens in terms of market share, $JitoSOL stands out with a dominant 43%, followed by $mSOL at 16.3%, and $jupSOL at 12.5%. This remarkable growth in Solana's LST ecosystem underscores the increasing adoption of staking solutions that not only enhance capital efficiency but also provide flexibility for investors. By allowing token holders to stake their assets while maintaining liquidity, LSTs present a compelling alternative to traditional staking methods. The success of these tokens not only underscores their utility within the DeFi ecosystem but also emphasizes the broader market dynamics where speculation and strategic investment are pivotal. As the LST sector continues to expand, it is poised to remain a focal point for innovation and investment within the cryptocurrency industry. Investors are encouraged to conduct thorough research before engaging in trading or investment activities, as the landscape remains highly volatile and subject to rapid changes.

The Akash Network (AKT) is currently making headlines as it approaches a significant milestone in the cryptocurrency market. Trading at around $4, AKT is nearing a billion-dollar market cap with a current valuation of $994 million. Over the past week, the altcoin has experienced a remarkable surge of nearly 50%, igniting discussions about its potential to reach a new 52-week high of $8.31. Analysts are closely monitoring the price action, particularly after a notable breakout from a falling wedge pattern, which has resulted in a 100% return from its previous low of $2. Technical indicators suggest a strong bullish momentum for AKT. The price has surpassed the 50% Fibonacci retracement level at $3.60 and is currently trading above the 200-day exponential moving average (EMA). This bullish trend is further supported by the potential for a golden crossover between the 200-day EMA and the 50-day EMA. Recent trading sessions have shown a significant intraday surge of 22.73%, forming a bullish engulfing candle that indicates strong buying pressure. The MACD indicator also reflects this positive trend, marking the third consecutive week of bullish momentum, which raises expectations for continued upward movement. Looking ahead, if the Akash Network maintains its current trajectory, analysts predict that the price could reach $6.19, paving the way for a potential breakthrough above the $6.85 mark. Fibonacci projections suggest that if this level is surpassed, AKT could aim for targets of $8.31 and even $12.09. While the bullish sentiment is strong, experts caution that minor corrections could occur, providing opportunities for consolidation before further upward movements. Overall, the Akash Network's future appears promising as it gains traction in the cryptocurrency space.

Bittensor's native token, TAO, is currently facing significant challenges as it trades near a critical support level historically associated with price rallies. Recent market analysis indicates that TAO has underperformed across various timeframes, suffering a notable 14.22% drop on a monthly scale. As of the latest trading session, TAO opened with a sharp decline of 5.05%, confirming its ongoing downtrend. The broader market weakness appears to be a key factor contributing to this price slide, leaving TAO vulnerable to further declines. Traders are now closely monitoring the critical support level of $488.4, which has previously acted as a launchpad for price reversals. Should TAO manage to hold this level, a potential rally to $682.2 could be on the horizon. However, failure to maintain this support could lead to deeper declines, with initial downside targets set at $403.4 and a more severe drop to $355.8 if selling pressure escalates. Market sentiment surrounding TAO has shifted decidedly bearish, as indicated by recent analysis from AMBCrypto using Coinglass data. In the past 24 hours, TAO's Exchange NetFlow has turned positive, suggesting that more tokens are being deposited into exchanges than withdrawn. This trend typically signals potential sell-offs, as traders prepare to offload their holdings. At the time of writing, over $3.90 million worth of TAO had been deposited, likely with the intent to sell. Additionally, the market has seen significant long liquidations, with $295.62K worth of long positions closed compared to only $9.59K worth of shorts, reflecting a growing pessimism among market participants. Technical indicators further confirm the bearish outlook for TAO. The Moving Average Convergence Divergence (MACD) has formed a “death cross,” a bearish signal indicating a decline in momentum. This pattern, along with the Bull Bear Power indicator, highlights the dominance of sellers in the market. The increasing red momentum bars on the Bull Bear Power indicator suggest that sellers are currently in control, reinforcing the bearish sentiment. Overall, the combination of negative market sentiment and technical indicators suggests that TAO may continue to face downward pressure in the near future.

The DePIN (Decentralized Physical Infrastructure Network) sector is currently witnessing a significant surge in interest, as evidenced by a recent poll conducted by CoinList. The poll asked users about their preferred project categories, with DePIN emerging as the top choice, highlighting its growing prominence in the blockchain space. In response to this trend, U2U Network, a Layer 1 blockchain focused on DePIN, has announced a collaboration with CoinList to launch an exclusive incentivized mainnet campaign. This initiative marks U2U Network as the first DePIN project to undertake a growth campaign on CoinList in the fourth quarter of 2024. DePIN is recognized as a transformative technology that aims to decentralize critical infrastructure services such as computing, energy, and telecommunications. This approach not only enhances scalability and resilience but also offers cost-efficiency that surpasses traditional centralized systems. With a market capitalization exceeding $33.6 billion, the DePIN sector is attracting substantial investment from venture capitalists, signaling a robust confidence in its potential. According to a 2023 report by Messari, the market potential for DePIN is estimated at $2.2 trillion, with projections suggesting it could rise to $3.5 trillion by 2028. This growth is further underscored by leading DePIN projects securing over $1 billion in funding. The U2U Incentivized Mainnet Saga Campaign, set to run from November 12, 2024, to February 10, 2025, aims to reward participants with $U2U tokens. Users can participate by bridging $USDT to receive $pUSDT, which can be staked in the U2U Incentivized Staking Pool, with a total reward pool of 10,000,000 $U2U tokens available. Beyond this collaboration with CoinList, U2U Network is also planning a campaign with Bitget, further expanding its influence in the DePIN ecosystem. As the anticipated listing approaches, U2U Network is poised to make significant contributions to the blockchain industry, fostering innovation and value for its users and the broader community.