Most Trending Cryptocurrencies on Polygon – Fuse Token, Mask Network, Elk

On Oct 30, 2024

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Bitcoin’s price and demand are gaining momentum, reflecting trends observed during the 2016 U.S. presidential election. For the upcoming 2024 election, betting markets currently estimate former President Donald Trump’s re-election chances at 66.5%. This has sparked optimism among investors, with expectations of regulatory shifts that could be favorable for Bitcoin fueling a bullish market sentiment.

As interest in Bitcoin grows, recent investments in Bitcoin exchange-traded funds (ETFs) are adding to the cryptocurrency’s upward trend. Moreover, tokens on several blockchains have posted rallies. This article curates the most trending cryptocurrencies on Polygon.

Most Trending Cryptocurrencies on Polygon

The Fuse Token (FUSE) is valued at $0.033 and has an estimated market cap of $67.31K. Mask Network (PoS) is priced at $3.168, with a market capitalization of approximately $316.98 million. Currently, Elk (ELK) is priced at $0.107, has a market cap of $1.73M, and shows a 24-hour trading volume of $7.38K.

Meanwhile, the meme coin Flockerz ($FLOCK) has quickly gained attention, raising $1.15 million during its initial coin offering (ICO). In other news, crypto firm Consensys announced a 20% workforce reduction, citing concerns over regulatory uncertainty.

1. Fuse Token (FUSE)

The Fuse Token (FUSE) is currently priced at $0.033, with a market cap of around $67.31K. Its 24-hour trading volume stands at $3.27K, reflecting an increase of 112.86% over the past day. FUSE has a circulating supply of 2.03 million, which has reached its maximum limit.

On the 15-minute timeframe on DEXTools.io, the FUSE/USD chart recently showed a strong breakout after an extended period of low activity and stable pricing. The price surged from approximately $0.014 to $0.033 in a series of large green candles. The most recent period indicates a slight gain of 0.77%. This sharp price increase reflects renewed interest, and it is now followed by a brief consolidation phase around the $0.033 mark.

The FUSE/USD pair saw a significant rally with rapid upward movement, suggesting renewed buying interest. This move began just after 11:00 and is evident in a sequence of green candles. The price now consolidates around the $0.033 level, hinting at potential stabilization. Accordingly, the trading volume spiked, indicating substantial buy orders entering the market. The volume’s increase aligns with the price movement, which supports the strength of the breakout, as higher trading activity generally backs a new price trend.

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After the rally, the price began a period of consolidation marked by smaller candles and reduced volume. This phase suggests a balance between buyers and sellers, with some likely taking profits. A single red candle hints at a slight pullback but doesn’t yet suggest a full reversal.

2. Mask Network (PoS) (MASK)

Mask Network (PoS) is currently priced at $3.168 and has a market cap of $316.98 million. Over the past 24 hours, the token’s trading volume has reached $17.9K, with a 35.32% price increase. The maximum circulating supply is 100 million MASK coins.

The recent price chart highlights fluctuations with brief uptrends and downtrends. Following these shifts, the price stabilizes within a range of $3.05 to $3.25. This activity shows both buyers and sellers actively testing price boundaries.

Initially, Mask Network saw a small rally to $3.17. This was followed by sideways movement with mixed red and green candles, which suggests indecision among traders. Around midday, the price briefly declined to $3.05 but then rebounded above $3.15. This recovery indicates some buying interest at lower levels. Later, the price slightly retraced to nearly $3.22, signaling possible resistance at this level.

MASK Price Chart

In terms of volume, an early increase matched the initial upward price movement, indicating buying pressure. Afterward, volume remained steady, with occasional spikes during larger price swings. A noticeable peak in volume coincided with the midday low, where buying at the support level appeared to push the price back up.

The chart shows mixed market sentiment, reflecting both bullish and bearish indicators. The early rally and midday recovery hint at cautious optimism, while frequent pullbacks suggest ongoing selling pressure. The minor retracement around $3.22 may signal some resistance, leading to slight consolidation.

3. Elk (ELK)

Elk (ELK) is currently priced at $0.107, with a market cap of $1.73M and a 24-hour trading volume of $7.38K. Over the past 24 hours, ELK has seen a notable 28.19% price increase. Out of its total supply of 42.42M, approximately 16.13M coins are in circulation.

Recently, ELK has shown a clear upward trend. Its price shifted from around $0.085 to about $0.108, suggesting a positive momentum. This increase has since stabilized, maintaining its level near the recent high.

ELK Price Chart

In terms of price movement, ELK’s value was initially stable with low trading activity. However, around midday, a sharp breakout occurred with multiple green candles pushing the price significantly higher. The price peaked near $0.1083, then entered a consolidation phase with minor fluctuations. This pattern suggests that buyers and sellers have reached a temporary balance of around $0.1078.

Alright! Here we go! $ELK is now live on @MEXC_Official!! Time to load up while it’s hot. More big news coming soon!https://t.co/lkObU2RNpv pic.twitter.com/XAoE514Yzq
— Elk Finance (@elk_finance) October 30, 2024

Volume closely reflected these price movements. During the stable early phase, trading volume was minimal. Yet, as the breakout began, volume surged, indicating strong buying interest. This heightened activity tapered off after the peak, which is in line with typical consolidation phases when trading slows.

Market sentiment appears bullish. The upward breakout and subsequent stabilization imply that buyers remain in control. Notably, the absence of a sharp sell-off after the increase suggests limited selling pressure. If buying interest resumes, the price could continue to trend higher.

What Might Be The Next Top Trending Crypto?

Flockerz ($FLOCK) is a new meme coin that has quickly gained traction, raising $1.15 million in its ICO phase. Despite a broader market slowdown, with most tokens down from last week, Flockerz shows surprising momentum. This dip across crypto markets has stemmed from issues like recent arrests of scammers in Japan and large-scale asset liquidations, which have impacted token values.

Launched recently, Flockerz aims to stand out in the crowded meme coin landscape. Investors can currently acquire $FLOCK tokens at $0.0058862, although prices are expected to rise soon. When the presale wraps up, the token will be available on both centralized and decentralized exchanges. This exposure may boost Flockerz’s market presence. To ensure security, Flockerz has also completed audits with Coinsult and SolidProof, which supports investor confidence.

The flock is so up 📈 it’s putting us into a meditative state! 🧘 pic.twitter.com/TmWTgJ2KVm
— Flockerz (@FlockerzToken) October 30, 2024

One unique feature of Flockerz is its “Vote-To-Earn” system. Through FlockTopia, the project’s DAO, token holders can earn $FLOCK rewards by participating in project decisions. This allows users to help guide development, marketing, and token management. By engaging users in decisions, Flockerz distinguishes itself from many other meme coins.

Moreover, $FLOCK holders can earn an APY of 1451% through staking. However, returns are expected to decrease as more tokens are staked. Prominent crypto influencers have endorsed Flockerz, highlighting its potential growth. Flockerz also has a growing presence on social media, with around 2.9k followers on X and 1.5k on Telegram, aiming for open communication with its community.

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