In a recent report, Christopher Waller, a prominent Federal Reserve, mentioned that interest rates could be reduced in the coming weeks. According to him, this would occur if inflation rate drops. Such an action would attract more traders to the crypto space. Tokens with bullish potential to watch out for include Chainlink, Cardano, and Meme Moguls
Chainlink (LINK) Price Surges After V0.2 Staking Goes Live
The Chainlink (LINK) v0.2 migration has gone live. This upgrade brought in a new staking platform that offers more flexibility for stakers. It also added better security, a flexible architecture, and an improved rewards system.
The platform has advised stakers who were using v0.1 to migrate to the new 45M LINK v0.2 pool. Chainlink coin responded positively to the news as it cleared all its losses on the price chart. According to CoinGecko, the Chainlink price increased 4% from a seven-day low of $13.85 to $14.77 on November 29.
The price of Chainlink crypto displayed a 34.1% and 98.4% gain on the monthly and year-to-date chart. A bullish upswing may further lift the price beyond $15. Once the price settles above these levels, $20 could be the next mission.
Cardano (ADA): Analysts Advised Traders To Watch For Major Breakout
On November 28, a crypto analyst from the More Crypto Online YouTube channel released a price analysis for Cardano (ADA). According to the analyst, Cardano crypto has traded within a tight price range.
The analyst also pointed out that Cardano ADA has not reached new higher or lower prices recently. Instead, it has been trading within key support and resistance levels, forming a noticeable triangle pattern on its price chart.
The analyst emphasized the importance of the $0.40 level which would indicate the beginning of a new upward trend. If the price manages to move convincingly beyond $0.41, it would confirm a positive breakout.
This would open doors for further upward movement. The Cardano coin price has increased by 4.6% in the past week. It has moved from a seven-day low of $0.367273 to a high of $0.385827.
Meme Moguls (MGLS) Staking Option Attracts Traders
Chainlink is not the only project that has recognized the benefits of staking. Users on Meme Moguls (MGLS) can stake their MGLS tokens to earn passive income each month.
Apart from staking benefits, Meme Moguls also enables users to trade memes and meme-related assets. Memes have gained prominence in the world today and Meme Moguls is bringing the meme culture to the Web3 space.
Traders can visit the Moguls Exchange Trading Platform to exchange memes. They can also learn about the latest memes, and gain more knowledge on how to trade memes.
One other exciting part of the platform was the Moguls Casino. Here, gamers are entertained with lots of games like Blackjack and Roulette. They can use MGLS tokens and meme-related items to play games while sharing bands. Many users have joined this exciting new project for a few reasons.
First, the ecosystem has offered a wide variety of meme-inspired items that couldn’t be found anywhere else. This would help you stay up-to-date with the latest meme trends, gain valuable insights, and increase your chances of success.
At the moment, the price of $MGLS tokens has increased already to $0.0021. Also, the project has realized over 250,000 USDT in fundraising. The first stage sold out in just one week. This makes getting in early a smart choice before the token enters the next presale stage.
For more information about the Meme Moguls (MGLS) presale:
Buy presale: https://app.mememoguls.com/sign-up
*This article was paid for. Cryptonomist did not write the article or test the platform.