Next Cryptocurrency to Explode Tuesday 8 August - XRP20, Chainlink, Bitcoin Cash

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Early Tuesday saw shares in Asia getting weaker but the US Dollar stood tall. Investors are still taking in the result of the Chinese data that was delivered weaker. They are still expecting inflation reports from both China and the US on Thursday.

Data revealed that the Chinese import dropped by more than 12% in July, whereas forecasts predicted a drop of 5%. Exports, on the other hand, dropped by 14.5% in contrast to the 12.5% prediction of economists.

The offshore Chinese currency equally dropped but to a more than 2-week low of 7.23/Dollar. The onshore Yuan also dropped to a 2-week low of 7.22/Dollar.

In Australia, the Dollar weakened by 0.38% to land at $0.65. New Zealand’s Dollar likewise fell by 0.55% to land at $0.61. The US Dollar further strengthened against the Japanese Yen by 0.46%. It is, however, still a distance from its high point this year.

The US 10-year yield on the Treasury rose by 4.04% but it closed by 4.08% on Monday. The 2-year yield rose to 4.76%. This yield rises with the market’s expectation of increased Federal Reserve rates.

In Europe, the Euro went down by 0.1% to stand at $1.10 to the Euro. the Dollar index gained higher to reach 102.24.

The Next Cryptocurrency To Explode

In the midst of all these, the crypto market managed to eke out some gains. Its market capitalization is up by 0.25% as of the time of this report. A significant difference from our last next cryptocurrency to explode post on Monday.

Other factors like the 24-hour trading volume and Bitcoin’s dominance are also in the green. Although many assets are still red, the few ones in the green are doing exceptionally well. Crypto projects are making headway these days through sheer innovation and improved token utility.

Work is also going on to make sure projects push the market into another bull run. It is needed now almost like never before. The next cryptocurrency to explode points readers in the direction of projects that are leading the way.

1. XRP20 (XRP20)

One of the latest crypto presales, XRP20, has now raised more than $1.1 million. There are now less than half of the presale tokens remaining to be sold. It is really giving the momentum for the next cryptocurrency to explode.

The project was sold as the next evolution of the renowned XRP token. It is giving investors an opportunity to have a second go at a token inspired by the actual XRP token. As the presale is gathering more momentum, speculators are arguing that XRP20 could jump much higher than XRP. The timeline for this is when it launches on decentralized exchanges after the presale.

$XRP20 is set up as a deflationary token with a buy and burn mechanism that sends 0.1% of every buy and sell to a burn address🔄🔥

These mechanisms will reduce the token supply over time, increasing the scarcity💎

Find out more now!🌐

🔗https://t.co/l238y01sFA #Blockchain pic.twitter.com/8dMKPc7gKk

— XRP20 (@XRP_20) August 8, 2023

The XRP20 presale crossed the $1 million mark on Monday. Early investors have taken up more than half of the allocated tokens. The presale has seen increasing demand in the course of the last 1 week due to FOMO in the market. It intensified among investors so much that they want exposure to the XRP20 token at all costs.

XRP20 currently sells at $0.000092. This is a 30x cheaper rate than XRP sold for at its lowest rate of $0.0028. The price draws those who missed out on chances to buy XRP in its earlier days.

If XRP20 keeps going at the rate it currently is, there are chances that it will raise its $1.85 million soft cap in a few days. The project has, thus, generated a lot of hype with its Telegram channel seeing exponential membership increase.

XRP20 has also gained the attention of influencers who have spoken loftily about it. One such influencer is Jacob Bury who has spoken to his subscribers on YouTube.

If XRP20 can maintain this momentum will be known only after the presale. But right now, there is growing interest in the community and you should be a part of it too.

The major ingredient of marketing XRP20 to the crypto market is that it gives a second shot at XRP. It creates a nostalgic feeling among those who may have missed it so they want to buy this new token.

Pushing XRP20 as the evolution of XRP helps the development team to position the new token for growth. There is no link between both projects in all honesty, the XRP20 team just hopes to leverage the existing success. It then hopes to replicate its success.

The marketing strategizing pushing XRP20 is well-grounded and yielding results. It is evident in the lineup of investors buying it before the presale allocation is exhausted.

XRP20’s launch coincides with recent troubles around the original token. XRP has gone down by about 33% in about 3 weeks. The new token will capitalize on the market mood and the search for alternative investments.

Apart from marketing strategy, XRP20’s features also draw investors under its umbrella. The platform offers staking services, as well as token-burning.

2. Chainlink (LINK)

Chainlink is showing some bullish signs in the midst of the market’s troubles. According to Santiment, the platform has increased its activities on GitHub during the summer. These activities make Chainlink one of the most actively developed crypto projects.

Most importantly, whales holding between 100,000 and 10 million LINK tokens have also increased their activities. Right now, they are in possession of the highest number of tokens since last year December. In a matter of weeks, Chainlink whale addresses have bought LINK tokens worth over $192 million. They seem to have information that LINK is the next cryptocurrency to explode.

The idea was fueled by crypto analysts who are increasingly bullish on the asset. One of the leading voices is popular YouTuber, Michael van de Poppe. He shared a bullish perspective on his YouTube channel recently.

Van de Poppe said in the video that Chainlink could rise by more than 50%. The predicted rise, Van de Poppe said, would be a result of the long period of gathering. LINK is expected to create a rally from a higher-low position as it has been selling between $5-$9.5 for over a year.

The analyst stated further that the $6.75 range is primarily for setting bullish positions. He predicted that the asset may then rise as high as $11 in its next run.

Chainlink has a collaboration with SWIFT, the international payment system. This is one of the factors driving its price and giving confidence to investors.

3. Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is one of the stories making the rounds today. The coin was one of the top gains on Tuesday morning on CoinMarketCap. Currently selling at $237. The asset, thus, gained about 6% as of Tuesday morning.

That increase spurred interest among investors. This is what makes BCH the next cryptocurrency to explode. Although it is going through a rough patch like most other tokens, BCH stands a chance.

Analysts say BCH has successfully brought itself out of a potentially dangerous area. The token bounced within its trading sphere that was established on the 1st of July. BCH also did not disappoint analysts who expected it to rise above $224.

BCH is now under its resistance zone, which makes the next price action an important one. Every observer expects it to break out of the resistance zone in no time. It may also hit a consolidation at this point. Time will tell.

There is also considerable whale activity around BCH. The asset saw large purchasing orders in a few hours on Binance. Such high-level moves could indicate that there is going to be a surge in BCH price.

4. WOO Network (WOO)

The WOO Network is also struggling but it’s getting easier because of internal developments. The platform is seeing continuous user experience upgrade that now makes it more attractive to users.

Furthermore, it has introduced WOOFi to accelerate user experience innovations. The main purpose of the DApp is to improve user experience with the DeFi with competitive swap fees and declined slippage. WOOFi is a unified DApp developed over a Synthetic Proactive Market Making (SPMM) model bringing the DeFi and CeFi liquidity. The platform is running with the purpose to upsurge user interaction with the DeFi offering declined slippage. The platform also allows users to Swap digital assets and access income-earning options that make the platform more popular in the crypto market.

The reported trading volume of WOOFi is around $18,535,921 with the live price of WOO being $0.22121. In the past seven days, the Unique Active Wallet (UAW) is reported to be around 161.22K with around 300.25K transactions. The total volume has also reached $174.08 Million, a hike of 1.54% in the last seven days showing a popularity upsurge. By the end of 2025, the price predicted for WOO is around $1.97 depending on the trends.

The platform compares different ways to offer the fastest and most cost-efficient strategy to enhance user experience. In the near future, the WOO coin has a higher chance of a hike.