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The latest report from the Conference Board shows that consumer confidence in the US has fallen for the second consecutive month in February, with households becoming increasingly pessimistic about the future. According to the index, the Expectations Index has dropped to 69.7, indicating a high likelihood of a recession within 12 months.
Despite this, Bitcoin is up slightly for the day, hovering above $23,500 after touching a low of $23,214 earlier in the day. Ethereum is also up for the day, and is above the $1,600 mark after a dip earlier in the day following an unsuccessful attempt to surpass the weekly resistance level of $1,670. If ETH bulls break through the RSI 53, there is a good possibility that the price could reach or exceed $1,700.
The Present Situation Index, a measure of current economic conditions, still experienced marginal growth this month. However, the expectations index dropped to 69.7 from its already downward revised value of 76.0 in January–well under 80, which is often associated with an impending recession within the next year.
Meanwhile, the Consumer Confidence Index has declined in February as well and stands at 102.9 (1985=100), down from 106.0 reported in January.
“The decrease reflected large drops in confidence for households aged 35 to 54 and for households earning $35,000 or more,” noted Ataman Ozyildirim, senior director, economics at the Conference Board. “Expectations for where jobs, incomes, and business conditions are headed over the next six months all fell sharply in February.”
The consumer confidence report shows a mixed impact on inflation expectations, with fewer consumers willing to spend money on high-priced items like homes or autos–but so far, this hesitancy has not translated to risk assets like cryptocurrency.
For those looking to invest in the cryptocurrency market, it’s essential to consider both fundamentals and technicals. Currently, some of the best crypto to buy today based on these factors are FGHT, XEM, CCHG, SNX, METRO, AGIX, and TARO.
Fight Out’s Innovation in Web3 and M2E Tech Make it One of Best Cryptos to Buy Today
Fight Out is looking to enter the fitness app industry in a big way with its cutting-edge Web3 and move-to-earn (M2E) technology, providing much-needed solutions to common problems faced by gym-goers such as high dropout rates and lack of motivation.
According to IHRSA, half of new gym members quit within six months due to a lack of personalization, connection, and motivation. With the COVID-19 pandemic leading to the temporary or permanent closure of many gyms worldwide, numerous customers have been left without access to fitness services as well, with some countries seeing closures as high as 40-50%.
Fight Out provides an all-encompassing solution to these issues, offering a personalized NFT avatar displaying fitness stats, providing tailored workout plans, and motivating users with REPS token rewards that can be exchanged for gym memberships, merchandise, and app subscriptions.
In Q4 2023, Fight Out will launch its first gym equipped with Web3 technology, including digital mirrors showcasing user profiles and sensors monitoring workouts for personalized advice. This community-driven, goal-oriented approach is set to create a significant impact in the fitness app market.
During the presale, investors can benefit from up to 63% bonuses, and the FGHT token has already raised nearly $4.8 million while its popularity continues to take off.
Visit Fight Out Now
Nem (XEM)
NEM (XEM) has made headlines recently, surging to hit $0.0772 on Monday, its highest level since May 2022. With a trading volume exceeding $321 million, the cryptocurrency has been enjoying gains since the beginning of 2023, up nearly 90% year-to-date.
Despite the recent surge in price, no new fundamental developments or announcements seem to have triggered the XEM price to soar. The only recent activity of note on the official Twitter account of NEM was an announcement of a blockchain halt that occurred at block height 4129631, which advised all exchanges to stop withdrawals and deposits until a hotfix is applied.
Plotting a Fibonacci retracement level in its most recent swing reveals that the cryptocurrency is currently trading around Fib 0.618 level at $0.0538 with a loss of 14.91% so far today after yesterday’s 54.24% move.
As NEM begins to stabilize, Fib 0.618 at $0.0538 is going to act as the immediate support, while Fib 0.236 at $0.0683 is the immediate resistance. With XEM looking a bit overextended, traders are advised to wait for the cryptocurrency to establish confirmed support before entering any trades.
C+Charge to Launch Blockchain-Powered Platform for EV Charging and Payment
C+Charge is in the process of creating an innovative blockchain-based platform aimed at improving the charging and payment experience for electric vehicle (EV) owners. With the increasing adoption of EVs worldwide, there is a growing demand for infrastructure for vehicle charging to meet the demand.
C+Charge’s new platform plans to collaborate with existing charging stations as well as build new ones, while making the stations easy to find and offering transparent pricing data. It will allow customers to make payments with the CCHG token, with the blockchain technology underlying CCHG guaranteeing fast and transparent payment processing. The platform’s app will also provide real-time information on charging options and vehicle diagnostics.
EV owners using C+Charge will receive Goodness Native Tokens (GNT) representing carbon credits as well. GNTs are verified voluntary carbon credits that can be traded on the app.
The presale of C+Charge’s token has been a huge success, raising over $1.8 million so far, and it will soon enter the next stage where its price will increase, making now a great time to grab some tokens.
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Synthetix (SNX)
Synthetix has seen moderate success in February, trading at $2.924 on Tuesday, as it looks to surpass the yearly high of $3.1. The rise in the SNX price can be attributed to the successful deployment of Synthetix V3 on the mainnet, which builds additional features into the platform.
Developers launched Synthetix V3 on both Ethereum and Optimism, marking a significant milestone for the network. The latest upgrade will allow Synthetix V3 systems to support Synthetix V2 systems through the legacy marketplace. Additionally, liquidity providers in Synthetix V2 can now drop their positions directly to V3. The V3 version of Synthetix will also have cross-chain functionality and scaling mechanisms.
SNX has continued its bullish momentum as it looks to close in the green for 3 consecutive days. As of writing, the price of SNX is $2.89, and it has convincingly broken out of the horizontal resistance area of $2.723 to $2.797. This area now has the potential to act as immediate support for SNX. The next target is the horizontal resistance area of $3.031 to $3.169, which is in confluence with the yearly high of $3.1.
Metropoly’s NFT Marketplace Brings Instant Liquidity and Passive Income
Metropoly is entering the real estate investment scene with its upcoming NFT marketplace, aiming to make fractional ownership accessible to all. Unlike traditional real estate investing, there are no credit checks, high down payments, mortgages or paperwork requirements, making it much more inclusive.
Investors can also enjoy passive income through automated rental payments, providing a steady stream of revenue. Metropoly’s real-time analytics and data will also make managing investments more accessible for investors.
Liquidity has always been an issue in real estate investments, but Metropoly aims to solve this problem by offering instant liquidity. Investors can opt to sell their properties for 70% of the price immediately or go for an auction to get the highest bid.
The real estate NFTs that will be listed on the platform will be backed by physical properties, and each NFT represents a portion of the property.
Metropoly has raised more than $571K so far in its presale. Tokens will be sold in 9 increasing price stages, making this a great opportunity for investors to get in before the price increases, and making METRO one of the best cryptos to buy today.
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SingularityNet (AGIX)
After having a great start to the year, AGIX has been moving sideways for the majority of February. Today, the cryptocurrency is attempting to break from the range it has been trading for the past 20 days.
AGIX registered an intra-day high of $0.5464, but the price was immediately met with selling pressure causing the price to go down to the current level of $0.519 with a gain of 18% so far in the day. The immediate support is the horizontal support area of $0.3554 to $0.3730 while the immediate resistance is the current swing high of $0.6678.
With AI being the hot topic in the first two months of 2023, AI cryptocurrency projects, including AGIX, are huge beneficiaries. It’s certainly worth keeping an eye on projects like this in the next few months.
RobotEra: Next-Era of World-Building Games with NFT Integration
RobotEra (TARO) is bringing Web3 gaming to the world-building genre, integrating NFTs (non-fungible tokens) with virtual and augmented reality while offering gamers a one-of-a-kind creative experience. The game’s Web3 technology, along with its user-friendly and sophisticated interface, is taking Minecraft-style gameplay to the next level.
The game’s user interface is designed to be simple, allowing players of all skill levels to easily build and customize robots, buildings, and land without any coding experience.
Using the TARO cryptocurrency, players can acquire land, robot NFTs, and other assets to enhance gameplay. As they progress through levels, users can customize their primary and companion robots, as well as construct unique landscapes and structures limited only by their imagination. Whether you’re interested in building a garden in the sky or an underground museum bunker, RobotEra offers endless creative possibilities for gamers.
RobotEra’s innovative idea, user-friendly design, and various earning opportunities are set to attract a broad audience of gamers, positioning it as a leader in the Web3 gaming movement.
The company has raised an impressive $962K in its token presale, portending a successful launch and making it one of the best cryptos to buy today.
Visit RobotEra Now
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