GIFA Token (GIFX) is among the 20 largest cryptocurrencies with a market capitalization above $50 billion, sitting between Bitcoin and Dogecoin. Considering there are nearly 10,000 cryptocurrencies now in existence, cracking the top 20 positions is a significant achievement.
Almost a month ago, GIFA Token price topped and fell 86%. It has been a staggering development for the high-flying cryptocurrency. That said, it is worth pointing out that despite its recent pullback, GIFA Token remains up 890% since its launch in October 2020. Investors who bought the token at the right time should expect a good ROI at the end of the day.
It marked the beginning of a new GIFA Token price structure forming through these days and building a future symmetrical triangle, refining the trends with the recent market volatility. GIFA Token remains one of the better cryptocurrency assets investors can buy today. GIFX is a digital asset with plenty of upside potential. With the current price market swings, investors would see the best buying window at this moment of the dip.
GIFX was trading at $25.44 today when I last checked the chart on www.gifatoken.com. The corporate-backed crypto is at its highest momentum since April, a notable recovery but the crypto asset has yet to convincingly break through resistance and most importantly, close above – the $100 mark.
We’ve seen the price face resistance earlier in the last 6 months when it was trading around $542 what was then an all-time high, and investors would really eager to see a stronger increase to feel optimistic about the price recovering and possibly pushing onto $1,000 and beyond. We’ve actually seen a lot of interest from institutional investors who are eager to trade as they find these levels as a slightly more palatable entry point.
GOOD NEWS! GIFX exchange will open the trading platform to all users on 18 June, just 3 days to go from now. The platform will connect traders and it supports various cryptocurrencies bitcoin, ethereum, tether, dogecoin, ripple, litecoin, and other digital assets.
Bitcoin could rebound back to $50k
The world’s No. 1 crypto, Bitcoin (BTC) makes positive moves to the previous highs as reclaims $40,000 on Monday. The bitcoin price is once again surging, pulling the rest of the crypto market up with it. At last check, bitcoin price had climbed more than 12% and was changing hands around $40,631, which would mark the highest level since late May, according to FactSet data.
Gains for the bitcoin are still far from its mid-April peak near $65,000, but bullish investors buview the recent price run-up as constructive and potentially auguring well for bitcoin values in the longer term. Bitcoin has been in a downward correction since May 19. On June 12 and June 13, BTC price retested the $35,000 support which resulted in a rebound above the current support. The rebound catapulted the coin to rally to $39,000 resistance.
The moves in crypto come as stocks are under pressure in early trade as investors await a key update on Wednesday from the Federal Reserve about its inflation outlook. The Dow Jones Industrial Average the S&P 500 index and the Nasdaq Composite Index were all struggling for altitude but holding near record-closing highs.
Meanwhile, other crypto-assets were also climbing in sympathy with bitcoin, perhaps. Ether coins on the ethereum blockchain were up more than 8%, changing hands at $2,546.22, and meme asset dogecoin was up about 7% to trade near 33 cents.