Next Cryptocurrency to Explode Tuesday 31 October - Aptos, Meme Kombat, Solana, THORChain

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The crypto market cap has reached $1.27 trillion, marking a modest 0.37% increase over the past day. Despite recent market volatility, the crypto market is showing resilience. Over the last 24 hours, the total trading volume in the crypto market surged to $39.35 billion, signifying a significant 41.87% increase.

The decentralized finance sector contributed $3.93 billion to this volume, representing 9.98% of the total crypto market’s 24-hour trading volume. Stablecoins also contributed $35.14 billion. This accounts for a substantial 89.30% of the entire crypto market’s 24-hour trading volume.

Bitcoin’s dominance currently stands at 52.66%. This represents a 0.31% decrease over the day. Any sector of the market is quite propped up to raise the next cryptocurrency to explode as the market gains.

Global stock indexes showed positive momentum on Monday, with US stocks leading the charge with a gain of more than 1% following recent sharp losses. Concurrently, the Japanese Yen reached a two-week high against the US Dollar in response to reports indicating that the Bank of Japan (BOJ) is contemplating adjustments to its yield curve control policy.

Oil prices, however, experienced a decline of over 3%, partially attributed to reduced concerns about the Israel-Hamas conflict disrupting the region’s oil supply.

The Yen’s ascent to 148.81 per dollar, its highest level since October 17, was triggered by the Nikkei report suggesting that the BOJ might permit the 10-year Japanese government bond yield to surpass 1%. As a result, the US dollar was down 0.4% at 149.05 yen.

Next Cryptocurrency To Explode

The BOJ started its two-day monetary policy meeting on Monday under mounting pressure to revise its bond yield control policy due to the recent surge in global interest rates.

In the same vein, the US Federal Reserve and the Bank of England are scheduled for meetings this week, and market participants are keenly awaiting the US monthly jobs report set to be released on Friday.

1. THORChain (RUNE)

In the past 24 hours, THORChain’s price has emerged as the top performer, experiencing an impressive 15% gain and marking a significant 28% increase over the past week. The RUNE token is showing remarkable strength as the next cryptocurrency to explode.

The surge in value can be attributed to several factors, including the introduction of THORChain’s new lending protocol, strategic partnerships, and expanded exchange listings. Investor enthusiasm for these developments has provided considerable momentum, propelling the price towards a significant resistance level at $3.30.

Additionally, the recent market upswing has provided an extra boost, positioning the price tantalizingly close to both its primary resistance and cross-resistance levels, hinting at the possibility of an imminent breakout.

From a technical perspective, the MACD indicator reveals a growing green histogram in its chart, indicating robust ongoing buying and selling pressure. Furthermore, moving averages display a consistent upward trend, suggesting that the price may continue to appreciate in the days ahead.

Should the bulls maintain their momentum and successfully breach the $3 resistance level, the price is poised for substantial gains and a potential test of its significant resistance at $3.30 in the near future.

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— THORChain (@THORChain) October 30, 2023

Furthermore, in the event of continued bullish sentiment, THORChain’s price may prepare to challenge its next significant resistance level at $4.

Conversely, if the bears manage to overpower the bulls and trigger a trend reversal, THORChain’s price could lose its current momentum and retest its support level at $2.41 in the near term. A sustained bearish sentiment may exert further downward pressure, potentially pushing the price to test its lower support level at $2 in the coming week.

2. Meme Kombat (MK)

Meme Kombat (MK) is generating significant excitement as the next cryptocurrency to explode in the market. MK introduces a new concept by merging the worlds of memes and battle arenas, where participants can engage in AI-powered duels featuring renowned meme mascots.

Presale just cruising up to $900k and not looking to slow down🏎️

Another brilliant video by @cryptonews!
Full video 👉 https://t.co/s60P6dheWL $MK #MemeKombat pic.twitter.com/GZ9CwCkOrn

— Meme Kombat (@Meme_Kombat) October 30, 2023

These entertaining battles will be decided and recorded on the Ethereum blockchain, guaranteeing transparent and verifiable outcomes. As anticipation builds for the platform’s official launch, the Meme Kombat team has already amassed an impressive sum of over $900,000 during its ongoing presale.

Investors have the opportunity to purchase MK tokens through the presale, with the added incentive of earning staking rewards boasting an impressive 112% annual percentage yield (APY). Notably, 30% of the total token supply has been earmarked to fund these rewards.

A further 10% of the token supply has been allocated for enhancing DEX (Decentralized Exchange) liquidity, a critical factor for newly introduced tokens that ensures fluid trading and price stability upon listing on various exchanges.

Respected figures in the crypto realm, such as Michael Wrubel, are optimistic about MK’s prospects. They highlight MK’s unique dual-earning approach, which allows investors to accumulate tokens through both staking and betting activities.

All indications point to an exciting journey for Meme Kombat as 2023 progresses, making it a potential star in the crypto landscape.

For potential investors, MK tokens can still be acquired through the presale at the current rate of $0.1667, although this pricing opportunity will only remain valid for the next two days before an increase.

Visit Meme Kombat.

3. Solana (SOL)

The native token of the Solana Network, SOL, continued its bullish trajectory today. It reached a new annual peak on Monday as the blockchain’s Breakpoint convention started. SOL surged by over 8%, breaching the $35 mark for the first time since September 2022.

The Breakpoint Convention is an annual gathering organized by the Solana Network to celebrate its achievements and express gratitude to its community. This event was introduced in 2021 and has become a significant occasion for the network and its supporters.

A recent report from last week highlighted that SOL has outperformed the top ten cryptocurrencies this year. YTD, SOL has experienced a remarkable growth of over 200%, starting the year at $9 on January 1.

The first full day of Solana #Breakpoint2023 programming kicks off tomorrow morning Oct. 31st! ☀️

Livestream starts at 9:00am UTC (5:00am EST) Oct. 31st on X and YouTube https://t.co/hxwY5A3uys.

See you on Campus! Can't wait to see what the ecosystem has been building. https://t.co/J5XtfZKclz

— Solana (@solana) October 30, 2023

The network’s resurgence has been substantial, effectively putting behind the challenges associated with the FTX incident. The Solana Foundation disclosed last year that it incurred significant losses due to the FTX fallout, including investments in FTX stocks and its native token, FTT.

Strategic partnerships with industry giants like Visa and Shopify have played a pivotal role in the network’s journey back to its former glory. With growing optimism around spot ETFs and the imminent Bitcoin halving, SOL appears to be offering a glimpse of what the future holds.

4. Aptos (APT)

The Aptos (APT) token has recently experienced a notable upswing, indicating a resurgence of bullish sentiment among investors. While the APT/USDT trading pair faced some profit-taking when it approached the $7 mark, the unwavering determination of the bulls is evident in their efforts to sustain the positive momentum.

In a market sentiment that remains optimistic, it is clear that even slight dips in APT’s price trigger robust buying interest, laying the foundation for a potential breakthrough of the pivotal resistance level at $7. Achieving this breakthrough could set the stage for an ascent toward the $8 threshold.

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— Aptos (@Aptos) October 30, 2023

Nevertheless, amidst the prevailing optimism surrounding APT, it is crucial to consider alternative scenarios that could influence the cryptocurrency’s future trajectory. A potential rejection at the $7 level may signify the lingering influence of bears at higher price points, potentially leading to a consolidation phase within a narrower range. In this scenario, $7 would emerge as a formidable resistance, while $6.20 assumes a critical support role. However, any weakening of the support at $6.20 could signal the commencement of a more substantial corrective phase for APT.