Syscoin saw its price double briefly after Binance introduced futures trading for the token. The price of Syscoin went from $0.10 to $0.20 before dropping to $0.1534. The token, with a market cap of $121 million, has shown a 108% increase in price over the last seven days and a 36% increase over the last thirty days. Despite this recent rally, in the last 24 hours, it has experienced around a 9% decrease in value. Syscoin is the native token of the protocol that enables Layer 2 network for scaling Bitcoin transactions through rollups.
The previous all-time high for Syscoin was $1.30 on January 2nd, 2022, but has since lost 88% of its value. The recent rally began on August 18th, pushing Syscoin to $0.10 before the Binance announcement caused it to briefly hit $0.20. The token now seems to be consolidating around $0.15 despite a falling RSI of 39, indicating further selling pressure in the short term. This dip in price might attract more buyers looking for a good entry point. The rally for Syscoin demonstrates the growing interest in Bitcoin layer 2 solutions among investors.
In contrast to Syscoin, in the meme coin sector, a new token called The Meme Games ($MGMES) is gaining traction. The token is currently in presale and has raised $376,600. Investors who purchase $MGMES tokens can select their favorite meme coin avatar for a chance to win a 25% bonus on their initial purchase. Priced at $0.0093 for the presale, the token will incrementally increase in price to $0.00935 in four days. Participants can buy $MGMES at the current low price of $92.50, which will not be available during the rest of the presale season.
During the presale, participants can purchase $MGMES an unlimited number of times to increase their chances of securing multiple 25% token bonuses. The project offers a 538% APY for staking tokens during the presale, with diminishing returns as more stakers join. Staking is only available on Ethereum, and investors are encouraged to stake early and in large amounts to maximize their yield. Despite being in presale, $MGMES is already showing to be a more profitable token compared to Syscoin. Interested investors can follow The Meme Games on social media platforms and join the presale through the official website.
As a disclaimer, it is important to note that cryptocurrency is a high-risk asset class, and this article is provided solely for informational purposes and does not constitute investment advice. Investors should be aware of the potential of losing all their capital when investing in cryptocurrencies. It is essential to conduct thorough research and due diligence before making any investment decisions in the volatile cryptocurrency market.
