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MAP Protocol (MAPO) emerged as the top-performing cryptocurrency on Saturday, surging by an impressive 100%. The token reached a high of $0.010, marking its highest level since February 2, and achieving a remarkable 153% increase from its lowest point this year. This price surge has pushed MAP Protocol’s market capitalization to over $53 million, attracting significant attention in the crypto market.

MAP Protocol Price Surge: Key Factors

MAP Protocol, a layer-2 blockchain network for Bitcoin, facilitates peer-to-peer cross-chain transactions. The recent price spike in MAP Protocol’s token is attributed to a growth in the network’s Total Value Locked (TVL). On Saturday, its TVL climbed to $23.3 million, the highest level since February. Several decentralized applications (dApps) within the ecosystem, such as HiveSwap, StaQ, and Butter Network, have significantly contributed to this increase by adding substantial assets to their platforms.

However, a potential risk looms for MAP Protocol’s price as technical indicators suggest the token is overbought. The Relative Strength Index (RSI) has jumped to 93, signaling that a price correction could be imminent as investors might take profits following the rapid surge.

Useless Coin Hits All-Time High Amid Market Volatility

The price of Useless Coin, a meme coin on the Solana blockchain, skyrocketed to a record high of $0.078 on Friday, defying the broader crypto market downturn. This marks a staggering 1,245% increase from its lowest point this year, bringing its market capitalization to over $70 million.

Unlike MAP Protocol, Useless Coin lacks any real utility. Its recent price surge is largely driven by hype and FOMO (Fear of Missing Out) among crypto investors. Despite its speculative nature, technical analysis indicates that Useless Coin may have further upside potential. The token has formed a classic cup-and-handle pattern, with the upper boundary at $0.047 and the lower boundary at $0.0051, representing a 90% dip. Based on this pattern, the projected target is $0.090, slightly above its current level.

Terra Luna Classic (LUNC) Gains as Burn Rate Accelerates

The price of Terra Luna Classic (LUNC) rose by over 10% on Saturday, driven by a significant increase in its token burn rate. Over the past seven days, more than 234 million LUNC tokens were burned, pushing the cumulative burn total to an impressive 410 billion tokens.

From a technical perspective, LUNC’s price shows potential for further growth. The token has been trading within a narrow range and has formed a double-bottom pattern, with a neckline at $0.00007253. Additionally, LUNC appears to be in the accumulation phase of the Wyckoff Theory, suggesting the possibility of an upward breakout. A sustained move above the neckline could propel the price toward the 50% Fibonacci retracement level at $0.0001135.

Bitcoin Trends Higher Amid Market Activity

Meanwhile, Bitcoin showed strength on Saturday, rallying past $105,000, signaling continued investor interest despite broader market volatility. Bitcoin’s performance often serves as a bellwether for the overall cryptocurrency market, and its recent upward momentum could encourage further activity across other digital assets.

For more updates on cryptocurrency prices, market trends, and investing insights, stay informed with the latest news and analysis.

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