The crypto market sparked back into life this week, with most coins and tokens seeing significant price increases.
Several notable events have contributed to the positive sentiment, and investors are now keen to discover whether the ongoing momentum can be promoted.
Meanwhile, several new altcoins are causing a stir in the market – with Wall Street Memes (WSM) and yPredict (YPRED) being the standout performers.
Investor Sentiment Shifts After Surprise Crypto Market Bull Run
A surprise bull run has gripped the crypto market this week, ending the bearish momentum that had been ongoing since April.
Coins like Bitcoin (BTC) and Ethereum (ETH) are leading the charge, with investor sentiment seeing a dramatic positive shift.
This shift is evidenced by the Crypto Fear & Greed Index, which is now sitting at 65 – firmly in “Greed” territory.
The last time the index was this high was April 16, highlighting how long it’s been since investors have shown such confidence in the crypto market.
Bitcoin, the largest cryptocurrency by market cap, has surged back above the $30,000 level, recouping most of its losses from the recent downturn.
Ethereum hasn’t been left behind, with the token experiencing a price rally that has pushed it just below the crucial resistance area at $1,900.
Several altcoins are also getting in on the act, with CoinMarketCap reporting that Bitcoin Cash (BCH) is up over 35% in the past week, hitting a market cap of $2.7 billion.
Crypto Market Soars as BlackRock Files for Spot BTC ETF
This sudden bull run has been attributed to several positive developments in the crypto space, including renewed institutional interest and favorable interest rate decisions.
Regarding the former, investor sentiment was buoyed after BlackRock filed for a spot Bitcoin ETF – which would be the first of its kind in the US.
BlackRock is the world’s largest asset manager and has only ever had an ETF application rejected once, hinting that the likelihood of this application being accepted is relatively high.
On the interest rate front, the Fed recently opted to pause rate hikes for the first time since March 2022.
This indicates that the interest rate is decreasing may not be far off, meaning “risky” assets like cryptocurrencies will look more appealing to investors – thereby driving demand.
Overall, the signs are optimistic that the market can sustain this bull run, setting investors up for a fruitful last half of 2023.
Which Coins Are Benefiting from the Crypto Bull Run?
While Bitcoin and Ethereum are leading the charge in the recent bull run, many other coins are also benefiting from renewed investor interest.
Two of these coins are Wall Street Memes (WSM) and yPredict (YPRED), both gaining colossal attention from retail investors.
Wall Street Memes Shakes Up Crypto Market & Nears $10m Landmark
First up is Wall Street Memes (WSM)a brand-new meme coin that has been sending shockwaves throughout the crypto market.
WSM is designed to “tokenize” the gigantic Wall Street Memes online community, which stands at over 1.1 million “degens.”
This community has roots that stretch back to 2021, following the incredible launch of Wall St Bulls NFTs.
All 10,000 of these NFTs sold out in 32 minutes – generating $2.5 million in sales.
Now, the creators of this NFT collection are turning their attention to the crypto market, offering WSM through a 30-stage presale phase before it debuts on major exchanges later this year.
Many expect WSM’s market debut to be an explosive event, given that the presale has raised almost $10 million in just one month.
Wall Street Memes’ team has already presented some exciting plans on the project’s roadmap – including high-profile influencer partnerships and an exclusive “gated community.”
These plans are already underway, with prominent influencer Crypto Jamie coming on board as a project ambassador.
All in all, the future looks exceedingly bright for Wall Street Memes – with early investors keen to see how the token reacts once listed later this year.
Is yPredict the Next Big Thing in AI Crypto After Raising $2.5 Million?
alongside Wall Street Memes, yPredict(YPRED) is also benefiting from the crypto market bull run.
yPredict is a blockchain-powered platform that leverages artificial intelligence (AI) to provide predictive analytics to crypto traders.
The platform has numerous features, such as AI-powered trading signals and automated chart pattern recognition, to help traders make better buy/sell decisions.
Fueling these features is the YPRED token, which is used to pay platform fees – although holders can also stake their tokens to earn tokenized rewards.
As outlined in yPredict’s whitepaperholders can even use YPRED to subscribe to advanced price prediction models created by AI and machine learning (ML) experts.
Currently, yPredict is in Stage 6 of its 8-stage presale phase, with YPRED tokens available for just $0.09.
Over 20,000 people are already on yPredict’s waitlist – and with a forecasted market cap at the launch of $6.5 million, it’s clear the project has the potential.
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