Bitcoin & Fantom react lead market recovery, but Yachtify set for bigger gains
Macroeconomic conditions, including the interest rate by the Federal Reserve, played a factor in the market crash of 2022. However, the crypto market is now growing beyond the influence of these conditions and raking up gains.
Following the latest interest rate, Bitcoin (BTC) and Fantom (FTM) are the two digital assets leading the market charge. Despite their gains, investors have identified a new project with more growth potential than the rest of the market, Yachtify (YCHT).
Bitcoin (BTC) lacks the momentum to conquer $30K
On Wednesday, May 4th, the Federal Reserve announced a 0.25% points interest rate hike (its 10th hike in the last 14 months). Rather than a sell-off, Bitcoin is now experiencing a price upswing.
Before the announcement, Bitcoin struggled at the $28k support. Following the interest rate Hike, Bitcoin (BTC) has gained more than 3% to push its price as high as $29,260.
Bitcoin now trades at $29,130 and appears to be consolidating before it moves for the critical $30k resistance. However, Bitcoin (BTC) currently shows little momentum to break above the region, which could suggest a retest of $28 first.
Fantom (FTM) leads crypto gainers
Fantom, the popular smart contracts platform for developers, also benefits from the interest rate hike. Fantom (FTM) is currently leading the market in gains today, with its price rising by more than 7% in the last 24 hours.
According to data from CoinMarketCap, Fantom currently trades at $0.44 and wants to break the $0.45 resistance. If Fantom (FTM) reclaims this level, we could see the price of the coin rally all the way to $0.49.
Although Bitcoin (BTC) and Fantom (FTM) are performing well thanks to weakening Fed strength over the crypto market, Yachtify looks to outperform them with its higher growth potential.
Yachtify (YCHT): Leading crypto into a new world of investment
The lucrative luxury yacht industry worth over $100 billion has been restricted to wealthy individuals for a long time. However, Yachtify is solving that problem by creating the first-of-its-kind marketplace where users can buy, sell, rent, or own fractional timeshares in a wide range of watercraft, from Sunseeker to Jetskis Yachts.
The platform will allow investors to buy fractionalized NFTs that represent a portion of a luxury yacht. But in this case, every NFT on the platform is backed by an actual yacht, jetski, or speedboat.
In addition, when the watercraft is rented or leased out, holders of NFTs get a portion of the rental fee charged based on the value of the NFT they own. This unique use case allows Yachtify (YCHT) to become a blue-chip crypto project. The Yachtify team has undergone KYC and passed an audit by SolidProof and InterFi Network, ensuring investor safety.
Yachtify (YCHT) is currently in presale, and you can buy a $YCHT token for $0.1. Investors who buy into the presale now have a chance to earn a share of the platform fees, and with Yachtify, all kinds of boats can be sold, rented, and bought on the blockchain.
Find out more about the Yachtify (YCHT) presale:-
Website: https://yachtify.market
Presale: https://buy.yachtify.market/login
Twitter: https://twitter.com/yachtify_market
Telegram: https://t.me/yachtify
