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Cardano, Chainlink Among Top Crypto Gainers on Thursday as Emerging Altcoin Receives Bullish Prediction

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Cardano, Chainlink Among Top Crypto Gainers on Thursday as Emerging Altcoin Receives Bullish Prediction

Cardano (ADA) and Chainlink (LINK) are among the top performers in the cryptocurrency market on Thursday, posting gains of over 6%.

While the broader market saw a mild uptick, these two major altcoins significantly outperformed Bitcoin (BTC) and Ethereum (ETH).

Meanwhile, newcomer Meme Kombat (MK) has also seen immense interest lately, tempting investors with the opportunity to get involved early through its limited-time presale.

Cardano Soars Higher as Chang Hard Fork Hype Builds

In the past 24 hours, ADA is up 6.5%, hitting the $0.64 level.

This marks a recovery from recent lows under $0.55 as ADA continues its upward trajectory in the second half of December.

The rally brings Cardano’s market cap back over $22.9 billion.

Many investors believe the latest boost stems partly from building excitement around upcoming network upgrades for the blockchain.

ada-chart

Cardano is gearing up for the pivotal Chang hard fork in early 2024, which will transition the chain to a community-governed model.

This governance shift is a significant milestone for decentralization and will hand control of the network to ADA holders.

As a result, some analysts predict the price of ADA could continue trending upward in the new year.

The growing enthusiasm and adoption of DeFi apps on Cardano is also providing momentum.

However, ADA is still 79% below its September 2021 all-time high, meaning it has a long way to go to fully recover and reach its previous peak.

LINK has also seen major gains in the past 24 hours, surging over 11% to $17.05.

This brings LINK around the same level as the intra-year high from December 8, marking a significant turnaround for the token.

At the time of writing, LINK’s market cap now sits at $9.6 billion, making it the 13th largest cryptocurrency globally.

Driving interest in Chainlink is a notable uptick in accumulation from whale wallets.

ulink-chart

According to on-chain data tracker Lookonchain, a large crypto holder withdrew over $2 million worth of LINK from Binance yesterday.

This brings their total withdrawals to almost $5.8 million in LINK over the past ten days.

These whale transfers suggest that large investors are accumulating LINK, potentially in anticipation of future price appreciation.

As such, the recent surge in LINK’s price, coupled with the accumulation by whales, indicates a growing bullish sentiment among crypto investors.

This could indicate that LINK is poised for further gains in the coming weeks and months.

New Meme Coin Meme Kombat Turns Heads & Raises $5m During Presale Mania

While heavyweight cryptos like Cardano and Chainlink have taken the spotlight, a new meme coin project called Meme Kombat (MK) has also been gaining traction during its ongoing presale.

Riding high on meme coin mania, Meme Kombat aims to bring an interactive multiplayer experience to the space.

The platform centers around AI-powered battles between famous meme coin mascots, like Doge, Shiba Inu, and Floki Inu.

meme-kombat

Users can pick a “fighter” to back, which involves wagering on fight outcomes using the native MK token.

If the chosen fighter wins, participants earn more MK tokens as a reward.

MK also has a built-in staking protocol, which offers yields of 186% per year.

Meme Kombat has already raised over $5 million in its presale phase, showing strong interest from retail investors.

tokenomics

With a fixed supply of 120 million MK and 50% allocated to presale buyers, Meme Kombat’s team aims to ensure the community holds a significant stake in the project’s future.

Given the project’s unique blend of gaming, betting, and decentralized finance, some speculate Meme Kombat could follow a similar trajectory to explosive meme coins like Pepe (PEPE) and Bonk (BONK).

For example, YouTube analyst Matthew Perry forecasted that MK could 10x after launch – and potentially soar even higher throughout 2024. 

Early investors can buy MK tokens through the current stage of the presale for $0.257.

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