Deep Dive
1. Concordium ID Integration (Bullish Impact)
Overview: On August 19, 2025, Concordium launched a privacy-preserving identity verification app using zero-knowledge proofs (ZKPs), with Coin98 Wallet as a launch partner (U.Today). The integration allows users to verify age and access services securely via Coin98.
What this means: The partnership enhances Coin98’s use case in regulated DeFi and Web3 identity solutions, attracting users needing compliant access to age-restricted platforms. Real-world adoption drivers like this often trigger speculative buying.
What to look out for: User adoption metrics for Concordium ID and further integrations with Coin98’s ecosystem.
2. Technical Rebound (Mixed Impact)
Overview: C98’s 7-day RSI at 37.52 (oversold) and 14-day RSI at 42.87 suggest a short-term bounce from undervalued levels. The price ($0.047) remains below the 200-day EMA ($0.055), but bearish momentum (MACD histogram at -0.000236) is weakening.
What this means: Traders may be capitalizing on oversold conditions, though the lack of a decisive MACD crossover limits bullish conviction. A sustained move above the 30-day SMA ($0.0502) could signal momentum reversal.
What to look out for: A close above $0.05 to confirm bullish technical structure.
3. Market Sentiment Shift (Neutral)
Overview: The Altcoin Season Index rose 36% over 30 days to 68, indicating selective capital rotation into alts. However, Bitcoin dominance remains elevated at 57.73%, capping upside potential.
What this means: C98’s rally aligns with improving risk appetite for mid-cap tokens, but broader market caution persists (Fear & Greed Index at 39).
Conclusion
C98’s 24h gain reflects a mix of bullish product integration and technical rebound, though macro uncertainty lingers. The Concordium partnership adds tangible utility, but traders should monitor whether buying pressure sustains above key resistance at $0.05.
Key watch: Can C98 hold gains if the Altcoin Season Index retreats below 60?