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Cryptocurrency prices had a strong weekend as the fear and greed index moved to extreme greed after the encouraging PCE report. Bitcoin, the biggest cryptocurrency in the world, jumped from last week’s low of $38,500 to over $42,500. Other cryptocurrencies like Celestia (TIA), Chainlink (LINK), and Wen. 

Bitbot, an upcoming platform in the blockchain industry, continued doing well in its token sale. According to its website, Bitbot has raised over $348k in the past few weeks as demand continues rising. You can buy the token here.

Bitbot is a telegram bot that aims to help crypto traders and investors navigate the industry’s highs and lows. Precisely, the developers are creating a Telegram bot that combines strong performance and robust security in the industry.

Bitbot is targeting a huge market since Telegram is one of the most popular social media networks with over 800 million users. Some of these users are in the crypto trading industry, which explains why the number of bots has surged.

The challenge is that most of these bots are not all that good in terms of performance and security. As such, many people who pay for these bots tend to lose money, both in the subscription fees and performance.

The network will be powered by the $BITBOT token, which will have several features and uses. For example, holders will receive a share of the revenue that the network will generate. Further, they will use it to facilitate governance in the ecosystem and receive some exclusive offers.

Meanwhile, the Wen token has gone parabolic as demand from risk-tolerant investors rose. Data compiled by CoinGecko shows that the Wen price surged by more than 50% in the past 24 hours, making it the best-performing cryptocurrency in the industry.

Wen is a new meme coin in Solana’s ecosystem. Its goal is to replicate the success of Bonk, which went parabolic last year. Indeed, Wen has become a success story as it has already achieved a market cap of more than $175 million.

Wen has also triggered strong demand for Solana’s decentralized exchanges like Jupiter, Orca, and Raydium. These exchanges processed millions of dollars in the past 24 hours as Jupiter passed Uniswap.

The performance of Wen and other recently-launched tokens mean that there is demand from investors. This trend will likely continue as the fear and greed index rebounds to the extreme greed area.

Celestia’s TIA and Chainlink’s LINK are the other tokens that are doing well. Chainlink is approaching the resistance at $15 after tumbling to $12 earlier this month. Similarly, Celestia’s TIA has risen to $18 and is nearing its record high of near $21. 

These tokens are rising as investors wait for the upcoming Federal Reserve decision and as Bitcoin recovers. Bitcoin has jumped from $38,500 last week to over $42,500 as the recent sell-off wanes. Most altcoins tend to move in the same direction as Bitcoin.

Most economists believe that the Federal Reserve will decide to leave interest rates unchanged this week. It will also insist that three rate cuts are coming later this year, which explains the performance of stocks and the fear and greed index.

The post Celestia, Chainlink, Wen prices rebound as Bitbot gains momentum appeared first on Invezz

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