Conservative Republicans are opposing the bipartisan agreement to raise the U.S. debt ceiling, which could result in a U.S. default if it doesn’t pass its first test in Congress.
Both President Joe Biden, a Democrat, and the leading Republican figure in Congress, House Speaker Kevin McCarthy, anticipate the requisite votes to enact the bill before June 5.
With debt default looming and financial markets on edge, what are the best cryptos to buy now?
Representative Ralph Norman, a right-leaning member of the House Freedom Caucus, expressed strong opposition should the bill remain unaltered.
Norman, alongside two other conservatives in the 13-member panel, possesses the potential to derail the bill even before it arrives on the House floor.
Although the panel typically aligns with House leadership, the inclusion of the three members by McCarthy in January was a prerequisite for securing the speaker’s gavel.
Representative Chip Roy, another panel member, dismissed the bill as lacking merit, while Representative Thomas Massie, the third member, hinted towards potential support for the package via a Monday tweet. His office, however, refrained from further comments.
While the panel’s four Democrats generally oppose Republican-supported legislation, it remains uncertain whether they would reject a deal that Biden had a hand in crafting.
Despite the odds, McCarthy expressed no real concerns on Monday regarding the potential rejection of the bill by the Rules Committee.
Democrats and Republicans alike praised the deal, suggesting it could likely pass despite some Republican opposition.
Senate Majority Leader Schumer enthusiastically lauded its “targeted” cuts and new revenue, saying it would surely help reduce deficits. House Speaker Pelosi said it was undoubtedly “good for the American people.”
The compromise ultimately highlights a gap between Republican leaders and their more hardline colleagues.
But for the time being, fiscal disaster appears averted, and political catastrophe is delayed. The proverbial “can” has simply been kicked down the road for another day.
With the threat of a US default looming, market participants are exploring diversification into cryptocurrencies.
Cryptos like WSM, QNT, ECOTERRA, INJ, YPRED, LDO, and DLANCE are hailed as some of the best cryptos to buy now amid the uncertainty over the debt ceiling.
Wall Street Memes’ Token Presale Surpasses $1 Million, Continues to Gain Traction
Wall Street Memes has made a splash with the launch of its $WSM token presale, quickly amassing over $1.4 million so far in funding.
The campaign’s momentum remains strong, with a remarkable daily pace of over $300,000, hinting at the possibility of reaching the $1.5 million milestone in the near future.
Given the history of Wall Street Memes’ successful digital asset launches, it’s no surprise that the $WSM presale is gaining traction.
Its predecessor, the Wall Street Bulls 10,000 piece NFT collection, accumulated a substantial $2.5 million and was depleted in just 32 minutes in 2021.
The ethos behind Wall Street Memes traces back to the infamous GameStop incident of 2021, a classic David versus Goliath scenario where retail investors challenged Wall Street’s heavyweights.
This movement has spurred Wall Street Memes to venture into the crypto space, signified by the launch of its $WSM token and a fresh mint of Ordinals NFTs on the Bitcoin blockchain.
Boasting a hefty community of over a million followers across its various social media platforms, Wall Street Memes has drawn interactions from Elon Musk, owner of Twitter and one of the wealthiest individuals on the planet.
This engagement further amplifies the potential of Wall Street Memes’ presale.
In alignment with its mantra of empowering the small investor, Wall Street Memes has a democratic token distribution approach.
All tokens are for the community, with none reserved for private sales or team allocation. Presale allocation stands at 50%, with 30% for community rewards and the rest split equally for CEX and DEX liquidity.
As the market awaits the cryptocurrency exchange listings of $WSM, the possibility of substantial future price increases is stirring interest among investors.
Analysts believe the strength of Wall Street Memes’ community and social media presence could influence the token’s demand, thereby impacting its price.
$WSM can be acquired on the Ethereum blockchain and Binance Smart Chain using ETH, BNB, or USDT (ERC-20 or BEP-20). All that’s required is connecting a crypto wallet on the wallstmemes.com website to execute a purchase.
The debut of the $WSM token marks a pivotal moment in Wall Street Memes’ journey.
Crypto enthusiasts and retail investors looking for opportunities may want to consider $WSM, one of the best cryptos to buy now.
Quant (QNT)
Quant (QNT) has been on a steady uptrend since May 26, with the price increasing over 15% from its temporary support level of $99. As of writing, QNT is trading at $114.9, marking a gain of 2.41% so far today.
The technical indicators suggest that this bullish momentum may persist in the immediate future.
The 20-day EMA for QNT currently stands at $106.1, which is below the current trading price, indicating a bullish trend.
Meanwhile, the 50-day EMA is at $110.1, also below the current price, supporting the bullish market sentiment.
Meanwhile, the 100-day EMA at $115.5 may potentially act as a resistance level, with the price edging closer to it.
The RSI has risen from yesterday’s 61.38 to 65.09 today. As the RSI is above 60, it suggests that the market is leaning towards overbought territory.
This means that there might be a potential short-term pullback or consolidation in the near future before the bullish trend continues.
The MACD histogram has increased from 1.1 yesterday to 1.6 today, indicating a continuation of the bullish momentum.
A rising MACD histogram typically suggests that the bulls are in control and that the upward trend is likely to persist.
The immediate resistance level for QNT is the Fib 0.5 level of $115.4, which coincides with the 100-day EMA at $115.5.
This confluence of resistance indicates that the price may face some challenges in breaking through this level.
On the other hand, immediate support can be found at the Fib 0.382 level of $110.9, followed by the 50-day EMA at $110.1.
The technical indicators for Quant (QNT) suggest that the bullish momentum is likely to continue in the immediate future.
However, traders should keep an eye on the RSI and resistance levels, as a short-term pullback or consolidation may be possible before the trend resumes.
Get Paid for Recycling with ecoterra’s Reverse Vending Machines
ecoterra is an environmentally-focused web3 initiative in the digital cryptocurrency space.
The platform has recently integrated major beverage brands such as Coca-Cola, Carlsberg, and Evian in their database of recyclable products, enabling an eco-conscious angle to the cyberspace protocol.
Within ecoterra’s user-friendly crypto app, enthusiasts can now recycle bottles from these brands via Reverse Vending Machines (RVMs), and receive a digital payout for their environmentally friendly actions.
The introduction of renowned brands into ecoterra’s system gives a shot in the arm of this award-clinching web3 enterprise, which finds itself at the vanguard of promoting green practices in the web3 sphere.
Building on blockchain’s transparency, Ecoterra is a coordinated web3 environment fueled by its native token, $ECOTERRA.
It promotes recycling through its Recycle-to-Earn model, facilitates the commerce of recycled materials, and inspires businesses to neutralize their carbon emissions.
ecoterra is projected to become an integral part of the global climate change strategy as cryptocurrency usage expands.
The development funding of the platform is fuelled by a presale of the crypto token, which has been met with resounding approval.
Only two months following its introduction, the ecoterra presale progressed through seven stages, bringing in over $4.51 million so far.
This momentum is anticipated to build on the increasing interest across social media platforms.
One indication is the expanding community on ecoterra’s Discord channel and the steadily rising following on Twitter.
ecoterra’s carefully designed application will reward users with $ECOTERRA tokens each time they recycle. Ecoterra’s R2E app is accepted wherever Reverse Vending Machines are used, indicating a vast potential market.
The platform will provide a market for carbon offsets and recycled materials, giving businesses a simpler way to offset carbon emissions and purchase recycled goods.
ecoterra will also offer a feature for monitoring eco-friendly practices called an Impact Trackable Profile, anticipated to interest sustainability-focused businesses.
The $ECOTERRA token powers the ecoterra platform and has built-in utility. The team intends to deploy a staking protocol in the near future so $ECOTERRA holders can also earn passive income.
Environmental web3 initiatives like ecoterra are primed to play an ever more essential part in tackling climate change. Experts predict a promising future for the $ECOTERRA token, one of the best cryptos to buy now.
Injective (INJ)
Injective (INJ) recently posted a 3-week high earlier today at $7.808, but the current price action suggests that a potential retracement may be due.
The current price of $7.527 appears to be experiencing rejection from the Fib 0.382 level at $7.540, forming a bearish hammer candlestick formation.
The 20-day EMA is at $6.835, while the 50-day EMA is at $6.646, and the 100-day EMA is at $5.843. These EMAs are trending upwards, indicating bullish momentum.
However, a potential price rejection at the Fib 0.382 level suggests that we may see a short-term retracement before further upside.
The RSI is at 59.13, up from yesterday’s 58.11. Despite being in the bullish territory, it’s not yet in the overbought zone, which would be above 70.
This means that there could still be room for some upward movement, but the momentum could be slowing down.
The MACD histogram is at 0.116, up from yesterday’s 0.082. The positive value indicates bullish momentum, but the increase is modest, suggesting that the momentum might not be strong enough to push the price much higher in the immediate term.
In terms of support and resistance levels, the immediate resistance is the Fib 0.382 level at $7.54. If the price manages to break above this level, it could signal a continuation of the bullish trend.
On the other hand, the immediate support is the 20-day EMA in confluence with the Fib 0.5 level at $6.7796.
If the price retraces and breaks below this support, it could indicate a deeper retracement before a potential bullish continuation.
The current technical indicators for Injective (INJ) suggest that we may see a short-term retracement, given the price rejection at the Fibonacci 0.382 level and the formation of a bearish hammer candle.
Traders should be cautious and closely monitor the price action around the immediate support and resistance levels to determine the next potential move.
yPredict: The AI-Fueled Crypto Trading Solution You Need; One of the Best Cryptos to Buy Now
AI-enabled cryptocurrency trading and analytics platform yPredict have secured over $1.9 million so far in its presale. The presale is part of yPredict’s initiative to raise capital for the development of its platform.
yPredict’s $YPRED token presale is currently in stage 6, with the token price increasing to $0.10 in stage 7.
The crypto trading field is expected to witness significant shifts with the launch of yPredict’s artificial intelligence-enabled price prediction platform.
YPredict has established a presale limit of $6.5 million, which could be reached in the near future if the current momentum holds.
At the core of yPredict’s efforts is the creation of a sophisticated crypto research and trading platform that will offer traders a range of AI-facilitated signals, pattern recognition capabilities, and social/news sentiment features.
The platform’s technology is developed by high-level AI developers and quants using advanced predictive models and data insights.
The yPredict.ai marketplace plans to give experts the opportunity to generate passive income by marketing their model predictions or data research as trading signals, which traders and investors can subscribe to.
yPredict plans to unveil the full version of its Analytics, Repository, and Marketplace platform by the end of the year. In the meantime, those eager to explore the platform can check out its currently available beta version.
The $YPRED crypto token, minted on the Polygon blockchain, functions as the native token of yPredict’s AI-powered trading platform.
To avail of yPredict’s premium features, new users will have to pay a subscription fee of $YPRED.
A portion of these fees will be shared with existing $YPRED token holders, creating a passive income stream and mitigating market selling pressure.
As the influence of AI technology spreads and crypto markets regain traction, yPredict’s platform is predicted to yield promising outcomes. Investors looking to purchase $YPRED can do so using ETH, MATIC, or BNB.
Lido DAO (LDO)
After doing a decisive bounce off the dual confluence support of Fib 0.618 at $1.957 and the horizontal support area of $1.944 to $1.973, Lido DAO (LDO) managed to post gains of more than 10% for the past two days.
However, it is currently experiencing rejection from the Fib 0.381 level at $2.190, which has led to a slight decrease in the price of 0.60% so far today.
The 20-day EMA ($2.068), 50-day EMA ($2.115), and 100-day EMA ($2.152) are all currently below the current LDO price of $2.168.
These moving averages suggest that LDO is in a short-term uptrend phase.
However, with the rejection from the Fib 0.381 level, a potential correction might be in the cards, which could lead to a retest of the 100-day EMA at $2.152.
The RSI has slightly decreased from 56.35 yesterday to 55.63 today, indicating that buying momentum has weakened.
The MACD histogram has increased to 0.016 from yesterday’s 0.012, signaling a bullish momentum but with signs of potential slowing down.
Trading volume has decreased from 11.126 million yesterday to 9.739 million today, and it is also below the volume moving average of 10.481 million.
This decrease in volume could suggest that traders are becoming more cautious, or that the buying momentum is fading.
LDO is currently facing resistance at the Fib 0.382 level of $2.190. The technical indicators suggest that although LDO is in a short-term uptrend, a potential correction might be underway.
Traders should keep an eye on the immediate support, which is the 100-day EMA at $2.152. If the bearishness persists, a deeper correction around the Fib 0.5 level at $2.074 is plausible.
Traders should remain vigilant for any changes in trading volume, RSI, and MACD to adjust their positions accordingly.
DeeLance’s Approach to Freelancing: Why It’s One of the Best Cryptos to Buy Now
DeeLance’s vision for the future of work just came into sharper focus. The crypto freelancing platform announced $1.12 million in financing from Bitgert Ventures, a leading web3 VC firm.
The investment marks a vote of confidence in DeeLance’s goal to overhaul the $761 billion recruitment industry with a decentralized metaverse for freelancers and employers.
Biggert Ventures, known for its support of decentralized infrastructures and applications, has put its weight behind DeeLance, signaling a strong belief in its vision that could open the doors to more investments from major institutions.
The considerable experience and connections Bitgert has from diverse web3 investments will likely furnish DeeLance with invaluable expertise and business prospects.
This collaboration will offer a significant lift for the DeeLance team, propelling them toward meeting their roadmap commitments in the coming quarters.
Bitgert’s portfolio features emerging crypto projects such as JulSwap, OKSE, and Carbon, and its major funding commitment will likely stimulate DeeLance’s own investment momentum, particularly with its native $DEELANCE token’s public presale, which recently exceeded $1.2 million.
Expect a ripple effect when the presale hits $1.493 million, as the $DLANCE token price will rise from $0.038 to $0.043.
Early adopters may then see potential gains when $DLANCE lists on major cryptocurrency exchanges at $0.055 in Q3 of the year.
The platform’s approach is rooted in tokenizing freelance work products into NFTs, ensuring the secure transfer of work ownership, which could rectify issues of copyright infringement and payment fraud.
Unlike existing platforms that impose high fees, DeeLance champions accessibility and low fees, with no need for browser plugins, third-party apps, or credit card details to sign up.
Payments are fast, facilitated through cryptocurrency, and secured using an escrow mechanism and smart contracts to guarantee transparency and safety.
As word spreads about DeeLance’s plans, enthusiasm is growing among social media platforms, and the DeeLance community is expanding rapidly.
DeeLance has been audited and certified by SolidProof and Coinsuls, gaining a pre-ICO listing on CoinMarketCap.
With a bold vision, institutional backing, and a thriving community, DeeLance seeks to pioneer the future of freelance work.
