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The global cryptocurrency market has seen a downturn, with a 2.16% decrease in its market cap, currently resting at $1.54 trillion. Over the past 24 hours, the total market volume dipped by 13.17% to $70.82 billion. The decentralized finance sector contributed $7.83 billion, representing 11.05% of the 24-hour market volume. Stablecoins, on the other hand, accounted for $63.36 billion, constituting a substantial 89.46% of the total volume.
Bitcoin’s dominance has slightly increased to 52.09%, marking a 0.33% rise within the day. Despite the downturn, traders still express optimism in raising the next cryptocurrency to explode without obstacles.
In a significant move, the United States authorities seized approximately half a million dollars in digital currency from an account linked to a Chinese individual, previously highlighted in an investigation concerning crypto-investment fraud operating from Southeast Asia. The fraudulent activity targeted victims through a scheme known as “pig butchering,” wherein scammers manipulated individuals they encountered online, convincing them to invest in fictitious crypto ventures.
Next Cryptocurrency To Explode
The crackdown by U.S. authorities underscores the ongoing efforts to combat fraudulent practices within the cryptocurrency space, aiming to protect unsuspecting investors from falling prey to such deceptive schemes.
1. Bitcoin ETF Token (BTCETF)
The new BTCETF token has emerged to leverage the imminent launch of regulated Bitcoin ETF products in the United States. Anticipating the SEC’s likely approval in early 2023, the Bitcoin ETF Token offers investors a strategic pathway to participate in this thematic trade.
The presale of BTCETF has already secured over $3.6 million in funding, drawing in investors enticed by its deflationary tokenomics and milestones tied to ETFs. The attention it gets puts BTCEFT on the path of becoming the next cryptocurrency to explode.
https://twitter.com/BTC_ETFToken/status/1734715494966481058?s=20
At the heart of Bitcoin ETF Token lies an inventive token burn mechanism, set to permanently eliminate 25% of the total 2.1 billion supply once the SEC grants initial approval for a spot Bitcoin ETF. This deliberate reduction in circulating coins heightens scarcity, incentivizing long-term holding of BTCETF.
Additionally, BTCETF introduces a dynamic trading tax starting at 5%, gradually decreasing by 1% with each milestone achieved in the ETF journey. This sliding tax structure rewards early adopters who maintain their holdings throughout the approval process.
Furthermore, Bitcoin ETF Token facilitates passive income generation through staking, offering yields currently hovering around 90% APY. The BTCETF presale capitalizes on the excitement surrounding a potential spot Bitcoin ETF, allowing purchasers to acquire tokens at discounted rates before listing on exchanges.
Capped at almost $5 million, the presale unfolds across ten stages, with each round making available 84 million BTCETF at progressively increasing prices. As the presale gains momentum ahead of an anticipated transformation in crypto markets, Bitcoin ETF Token presents a timely opportunity to gain exposure to this pivotal theme.
Visit Bitcoin ETF Token.
2. Osmosis (OSMO)
Osmosis (OSMO) is also one of the crypto assets that has experienced a notable surge in the past week. It gained a 35.13% increase in its price. Within the last 24 hours, the cost of OSMO rose by 8.66%, although recent fluctuations saw a minor decrease of 0.73% in the past hour, settling at $1.02 per OSMO. Despite this recent uptick, Osmosis remains 90.94% below its all-time high of $11.21. Nevertheless, recent gains make it the next cryptocurrency to explode.
While making its gains, Osmosis also garnered attention across social media platforms, attracting discussions from 97 unique individuals and earning it a ranking of #217 in terms of mentions and activity. Despite the chatter, sentiments surrounding Osmosis have been relatively lukewarm, with an average sentiment score of 0.1 out of 5 over the last 24 hours. Nonetheless, the project’s increasing newsworthiness has become evident in recent discussions.
Analyzing social media sentiment, approximately 23.76% of tweets expressed bullish views about Osmosis, slightly surpassing the 22.77% of tweets reflecting bearish sentiment.
Osmosis, identified as a decentralized exchange (DEX) tailored for the Cosmos ecosystem, operates on the Inter-Blockchain Communication Protocol (IBC). This platform stands out by supporting non-IBC assets from Ethereum and Polkadot ecosystems. Offering extensive functionalities, including lending, credit, margin, fiat on-ramps, NFTs, and stablecoins, Osmosis aims to blend the features of centralized exchanges with the trust-minimization characteristic of decentralized finance.
The platform’s unique model allows customizable liquidity pools, enabling liquidity providers to contribute to collections with multiple tokens and uneven ratios, thereby adjusting parameters like slippage and transaction fees. Osmosis also introduces innovative features such as Superfluid Staking, enhancing Proof-of-Stake security, and strategies to reduce Miner Extractable Value (MEV) through encrypted transaction mempools.
What do you think this is? pic.twitter.com/M3SiA01R0Y
— Osmosis Labs ⚗️ (@osmolabs) December 12, 2023
Osmosis operates with the governance token OSMO, empowering holders to partake in strategic decisions concerning liquidity pool management fostering long-term liquidity provision.
The platform’s vision revolves around constructing a cross-chain native DEX and trading suite that interconnects various chains via IBC, extending its reach to significant blockchains like Ethereum and Bitcoin. Through its innovative approach to DEX functionalities, Osmosis endeavors to set new standards within the decentralized finance landscape.
3. Cosmos (ATOM)
Cosmos (ATOM) follows right after Osmosis on today’s CoinMarketCap gains chart. Its price has remained stagnant around the psychological threshold of $10 for approximately five weeks, lacking a clear directional bias. However, recent insights from the last weekly candlestick closure, momentum indicators, and the overall market sentiment suggest an imminent breakout rally for ATOM investors.
Since November, Cosmos’ price has grappled with the $10.08 weekly resistance level, facing rejection on three occasions. Yet, the most recent weekly candlestick concluded decisively above this level, despite ATOM’s decline in tandem with Bitcoin’s recent slip-up. Currently, ATOM is retesting the $10.08 mark on the weekly timeframe.
As mentioned earlier, a crucial turning point lies in Cosmos’ price defending this level and securing a weekly candlestick closure above it, signifying a bullish development. This optimism finds reinforcement in the Relative Strength Index (RSI) and the Awesome Oscillator (AO) indicators, both positioned above their respective mean levels on the weekly scale.
💫 @namada is coming to the #interchain
Interchain Privacy is on the horizon – Namada revolutionizes the blockchain privacy landscape by addressing the fragmentation of privacy.
Namada's architecture harnesses the power of #IBC to establish a unified and interoperable privacy! pic.twitter.com/qM3aNLY1wa
— Cosmos – The Interchain ⚛️ (@cosmos) December 12, 2023
Consequently, should Cosmos successfully retest and maintain above $10.08, a significant surge in its price towards the subsequent pivotal weekly barrier at $15.12, standing precisely 50% higher, is highly anticipated.
In an intensely bullish scenario, Cosmos’ price might extend its upward momentum to rechallenge the $21.68 hurdle, marking a whopping 116% surge from the initial 50% gain. It will the token maintain its place as the next cryptocurrency to explode.
4. Fetch.ai (FET)
Fetch.ai is equally grabbing attention in the crypto market today. It is up and currently selling at $0.58. Despite the slight downward change today, FET is among the few tokens saving the day, thereby being the next cryptocurrency to explode.
Fetch.ai (FET) stands at the forefront of innovation, offering an open-source ecosystem geared towards empowering peer-to-peer (P2P) applications through the fusion of advanced automation and artificial intelligence (AI) capabilities.
The network merges AI and blockchain technologies at its core, crafting open-source tools that seamlessly interface with its interoperable decentralized network. This integration heralds a new era where users can harness the power of AI and automation to navigate intricate tasks within the digital economy, challenging the dominance of major players monopolizing data acquisition.
Central to Fetch.ai’s mission is the development of autonomous economic agents (AEAs) – intelligent software entities designed to execute actions, make informed decisions, and actively participate in economic activities on behalf of users.
Dive into the world of AI Agents with us! 🚀
These aren't your ordinary software programs. They're autonomously intelligent and can transform our interactions with technology.
Let's unravel their magic in the #AIRevolution! 🧵👇 pic.twitter.com/M0DCZDpPH7
— Fetch.ai (@Fetch_ai) December 12, 2023
The platform engineers these software entities and deploys cutting-edge AI and machine language (ML) algorithms to analyze data, learn from experiences, and refine decision-making processes continually.
This pioneering approach unlocks many possibilities across various sectors, including supply chain optimization, decentralized finance (DeFi), and the Internet of Things (IoT). By seamlessly blending AI capabilities with decentralized networks, Fetch.ai is poised to redefine how businesses and individuals interact within the digital landscape, paving the way for enhanced efficiency and innovation.
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