Unstaked Raises $7M, Positioning as the Best Crypto Right Now

Recent developments in the crypto market have reignited interest among traders. On one end, Dogecoin (DOGE) rally news dominates headlines.

Dogecoin (DOGE) price has seen some strength recently, which has led to a technical rebound and MACD suggesting bullish momentum.

However, most of Dogecoin's move may be down to forced liquidations, with short sellers bearing the brunt. According to CoinGlass, $5.24 million in short positions were liquidated over 24 hours, compared to $2.80 million for longs.

This imbalance is evident in leveraged traders’ rapidly shifting behaviour. At the start of the week, on Monday, 76% of traders were net short on Dogecoin. But, by Wednesday, that balance had flipped to 72% net long.

Such a dramatic swing in a single asset class is rare and shows the speculative nature of the market. Those short-term gains may also be quickly reversed.

Dogecoin price hovers above key resistance.

Dogecoin price has risen by over 3% in 24 hours, but it is still down by 16% over the last seven days. The token's price is currently at $0.23, and it is up by over 50% from its recent lows.

Dogecoin price action has been volatile in recent times, and it has been subject to a great deal of speculation. Some traders believe that Dogecoin could continue to rally towards new highs, while others are more bearish and see further downside.

Dogecoin price is currently testing key resistance at $0.239, and a breakout could spark a rally towards the next resistance levels at $0.265 and $0.30. If the bulls manage to push through these levels, then the next price targets are $0.73905 and $0.9605.

However, it is important to note that these are just technical analysis predictions, and they may not necessarily come to pass. The direction of Dogecoin price will ultimately depend on a variety of factors, including the overall market trends, investor sentiment, and any major developments in the Dogecoin ecosystem.

Cardano open interest hits 1 billion.

Cardano (ADA) price continues to show signs of interesting market behavior, with high levels of open interest signaling strong activity and potential for significant price moves.

As of Wednesday, July 19, at 08:44 (GMT+8), Cardano price is showing a slight decrease of 0.76% over the last 24 hours on Bitstamp. It is currently being traded at $0.752, with a 24-hour trading volume of $1,002 million, as per CoinMarketCap data.

At present, a majority of Cardano positions are being held on Bitget and Binance, with both exchanges aggregating more than 40% of the total open interest. This suggests that any large-scale movements on these platforms could exert a strong influence on the broader market sentiment towards ADA.

Cardano’s price has been encountering resistance in stepping above the $0.78 level, which could pose an obstacle to further upward price action.

On the other hand, a move lower could see support at $0.7377. A breakout above the $0.78 resistance could propel the price towards the next resistance at $0.82.

Unstaked raises $7 million.

Unstaked has announced the successful completion of Stage 14 of its presale, which has seen an impressive contribution of over $7 million from investors.

The project is rapidly approaching its final presale stages, with only 10 stages remaining before its planned listing on a major exchange.

Unstaked is revolutionizing the Web3 space with its unique Proof-of-Intelligence (POI) mechanism, which is set to be integrated into the Unstaked platform at launch. This innovative system leverages the power of AI to validate contributions from the Unstaked community.

At Stage 14, Unstaked’s presale token price stands at $0.009831, and it is expected to reach $0.1819 upon listing on an exchange. This presents an appealing asymmetrical opportunity for early-stage crypto investors.

In addition to its advanced technology, Unstaked is also known for its strong community focus. The project is currently running a massive $1,000,000 Gleam competition, where 20 lucky winners will each receive $50,000 in $UNSD tokens.

To participate in the competition, contributors are required to perform various tasks, such as joining Unstaked’s Telegram and Twitter channels, following Unstaked on X, sharing Unstaked’s posts, and making a minimum purchase of $100 in $UNSD tokens.

The role of community is critical to Unstaked’s success.