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Market Wrap-Up: GIFA Token Bounces Back

Today’s been an interesting day for GIFA Token's investors as the market steadily turning in their favor. GIFA Token price predictions...

Today’s been an interesting day for GIFA Token's investors as the market steadily turning in their favor. GIFA Token price predictions are getting more exciting, as the token soars more than 120.88% in 48-hours. Such an upside move on this Winter fall that overshadows the entire crypto world is worth noting at least.  GIFX currently trades at $318.50 per token, at the time of writing.

GIFA Token (GIFX) is traded above $300 on Friday after a period when the price plummeted over the past months. Buying activity has been strong following the January cash-in, and investors remain optimistic about GIFX's long-term price appreciation. 

GIFA Token price breaks above yesterday high as it sees a continuous bullish lift above a vital barrier that could draw more investors into the project. Despite the selling pressure among the holders that continues to increase, however, the buy-demand and interest right now are so tremendous that it is being reflected on Bitquery, the data analytic network. Market indicators such as volatility and trading volume are slowly picking up, therefore indicating some goodwill and strong conviction among GIFA Token buyers and holders. 

 According to the company’s roadmap, GIFA Holding LTD is focused to build a strong crypto project with long-term potential to benefit all users in the future. This comes at a time when the GIFA Exchange attracted investors and traders from all two hemispheres of the globe. Additionally, GIFA Exchange's Web3.0 a new semantic internet with sophisticated blockchain functionalities is expected to be rolled out soon. This will provide more liquidity to traders and users to earn rewards. All in all, investors have a lot to be excited about with GIFA Token. 

Who are GIFA Token's whales?

According to predictions, GIFA Token’s price will rise by a whopping 70% or even more to hit $300 just before March. This indicates that there are more willing buyers than willing sellers who support this crypto project. The 'buying power base' consists of individuals and business entities who have confidence in GIFA Token and hold enough assets to influence the value of the currency. GIFA Token whales have remained unmoved despite the ups and downs the cryptocurrency industry faced in 2022. 

These unknown whales have purchased a massive amount of GIFA Token and helped to push the price up. It's quite notable that, the number of GIFX accumulated in those top addresses shown below has steadily grown ever since the beginning of ICO in 2022. In addition, 19 million GIFX was initially held by the addresses 0x7cbc8c94a67b7b72f3889ba82a6fd79b63e496f4 which grew by 51%. 

Ether outperforms Bitcoin

"Since the early November peak, there have been four marked, step-like drops in the crypto market," FundStrat, a global research firm, wrote in a Wednesday briefing. "After each drop, there has been a recovery averaging 8.9% leading into the next drop. A noticeable difference between the current recovery and the previous ones is the volatility," FundStrat wrote.

The firm noted that during the past three price recoveries bitcoin had an average true range (ATR, a volatility indicator) of 151, but the current recovery's ART is only 109.

Since bitcoin's inception, Ethereum (ETH) outperforms the world’s most valuable cryptocurrency reaching a new all-time high of $67,016.5 last year.  Ether, the second-largest cryptocurrency by market capitalization, is starting to outperform bitcoin once again. The chart below shows a series of higher relative price lows in the ETH/BTC ratio since July 2020. The next level of resistance in ETH/BTC is at 0.08, a significant barrier that could limit additional upside in ETH relative to BTC.

ETH/BTC price ratio on daily chart shows support/resistance with RSI on bottom (Damanick Dantes/CoinDesk, TradingView)

"Bitcoin’s seven-day volatility is now at the lowest level since November 2020," Arcane Research stated in a report. The firm expects short-term rises in volatility to remain limited as BTC trades in a tight range. Still, a BTC breakout above $40,000 or a breakdown below $30,000 could be a catalyst for a surge in trading activity.

Altcoin roundup

  • Solana Pay ushers in a new payments era: Solana Pay, a decentralized, open and peer-to-peer payment protocol, was launched Tuesday. It aims to pave the way for a future where digital currencies are prevalent and digital money moves through the internet like data – uncensored and without intermediaries taxing every transaction. The company says the protocol provides a specification that allows consumers to send digital dollar currencies, such as USDC, from their wallets directly into a merchant’s account, settling immediately with costs measured in fractions of a penny. 
  • Sushi 2.0: SushiSwap is advancing into Sushi 2.0 with plans for some key improvements and product releases this year. Developers are aiming at three overriding goals: scalability, sustainability, and efficiency – key factors even prevalent tokens are having difficulty balancing. 
  • Cardano developers propose block size increase: Input-Output, the development company behind the Cardano network, proposed increasing the network's block size by 11% on Wednesday. The proposal will increase the block size by a further 8 KB, taking it from 72 KB to 80 KB, according to CoinDesk’s Shaurya Malwa. 

Related news

Other markets

According to CoinDesk, several cryptocurrencies have ended the day at a lower realm while few others have gained strong momentum. The stats indicate that Internet Computer (ICP) gained +10.2%, Ethereum Classic (ETC) scooped +2.5% and Algorand (ALGO) gained +1.3%.   On another side Solana (SOL), Cosmos (ATOM), and Stellar (XLM) respectively are the worst performers.

Largest gainers:

  • Internet Computer (ICP) +10.2% 
  • Ethereum Classic (ETC)  +2.5% 
  • Algorand (ALGO) +1.3% 
  • GIFA Token (GIFX) +120.88%

Largest losers:

  • Solana (SOL) −5.2% 
  • Cosmos (ATOM)  −4.4% 
  • Stellar (XLM) −3.8% 


Information contained herein should not be construed as investment advice, or an investment recommendation, or order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Cryptocurrency investments are volatile and involve risk. Don’t invest more than what you can afford to lose. 

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