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Digital assets have become an attractive option for investors looking for promising returns. Identifying the next cryptocurrency on the brink of explosive growth requires carefully understanding market trends. Insidebitcions sifts through the crypto market to highlight specific cryptocurrencies expected to grow substantially.
Next Cryptocurrency To Explode
With each project harboring unique features and promising developments, this article aims to shed light on the factors contributing to the explosive growth of these tokens. It analyzes the NEAR Protocol’s 8.91% intraday increase and the consistent uptrend in GRT’s price. Additionally, it takes a closer look at Bitcoin Minetrix, highlighting its success as a presale in the cryptocurrency space.
1. NEAR Protocol (NEAR)
NEAR Protocol has been steadily gaining momentum and experienced a 19% increase in its intraday price. This follows a remarkable 300% surge since the commencement of a rally in October. Moreover, NEAR witnessed a substantial trading volume of $518 million in 24 hours, signaling considerable market activity that could influence its price.
The ongoing bullish momentum suggests that NEAR bulls are actively driving the upward trend in its price. In addition, the current sentiment in NEAR Protocol’s price prediction leans towards a bullish outlook. However, the Fear & Greed Index is 49, indicating a neutral stance.
While NEAR Protocol is ranked 20th in the Layer 1 sector, its journey last year saw a 14% price increase. The project’s inflation rate, currently at 20.99%, translates to the creation of 174.33M NEAR in the last year. This figure underscores the dynamic nature of NEAR Protocol’s supply dynamics.
The token’s all-time high was recorded at $20.42 on Jan 16, 2022, and an all-time low of $0.526680 on Nov 4, 2020. The lowest price since its ATH was $0.972014, while the highest price since the last cycle low was $4.61.
Why choose NEAR for Data Availability?
NEAR Protocol is built to onboard 1B+ users to Web3.
Dive into the benefits of NEAR's innovative solution for Ethereum rollups, delivering unparalleled scalability and affordability in the Web3 space.https://t.co/x2i7zvgkwH pic.twitter.com/C68GYvu4uc
— NEAR Protocol (@NEARProtocol) January 26, 2024
Furthermore, recent market trends seem to affirm that the optimistic outlook for NEAR is far from over. The surge in daily active users on the NEAR network further reinforces confidence among token holders and investors. However, it’s essential to acknowledge potential hurdles in NEAR’s path toward achieving fresh highs.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix is a tokenized cloud mining platform aiming to democratize Bitcoin (BTC) mining through decentralization. The platform token, BTCMTX, is currently offered at a discounted price of $0.0131. As of the latest update, the project has successfully raised over $9,513,436.24 out of its $10,326,940 goal.
#BitcoinMinetrix has successfully raised more than $9,400,000! 🪙 pic.twitter.com/4jFDiFu5wJ
— Bitcoinminetrix (@bitcoinminetrix) January 26, 2024
Also, Bitcoin Minetrix emphasizes a community-centric approach. A significant portion of the token supply is available during the presale, with additional allocations earmarked for marketing, community reward programs, and stakes. This allocation strategy aligns with the project’s commitment to putting the community at the forefront.
Moreover, the project’s presale page reveals that its token price will increase in four days. This strategic pricing model aims to incentivize early participation. In addition, Bitcoin Minetrix sees vast potential for BTCMTX in the crypto market.
Investors are advised to watch the token, considering its potential as the next cryptocurrency to experience significant growth. BTCMTX‘s current discounted price and strategic supply allocation make it an intriguing option for investors.
Visit Bitcoin Mintrix Presale.
3. Fetch.ai (FET)
Fetch.ai is a frontrunner in the crypto space, focusing on innovation within an open-source ecosystem to boost peer-to-peer (P2P) applications. The project merges advanced automation and artificial intelligence (AI) to create a unique platform.
Moreover, the platform creates smart software called Autonomous Economic Agents (AEAs). These are intelligent software entities crafted to perform actions and actively engage in economic activities on behalf of users.
With a current market cap of $424.23 million, Fetch.ai distinguishes itself through its generative AI approach. Moreover, it demonstrates a high narrative score and a 7% intraday growth, showcasing commendable performance in the ongoing bullish market.
In addition, Fetch.ai experienced a remarkable 133% price increase last year, outperforming 79% of the top 100 crypto assets. Fetch.ai boasts a circulating supply of 688.12 million FET out of a max supply of 1.15 billion.
Coming soon: BlockAgent, A game-changer in #Web3 🌐
BlockAgent leverages our advanced #AIAgent technology, showing how flexible and versatile it can be to make on-chain insights more accessible.
Deploy Agents quickly and get personal real-time blockchain data insights 📊 pic.twitter.com/c7kmKNAnaz
— Fetch.ai (@Fetch_ai) January 19, 2024
Furthermore, Fetch.ai holds the 36th position in the Ethereum (ERC20) Tokens sector. It also ranks 47th in the Layer 1 sector and 7th in the AI Crypto sector. The token trades above the 200-day simple moving average, a trend often associated with positive market sentiment.
Additionally, the project exhibits high liquidity, supported by its substantial market cap. In summary, Fetch.ai’s approach and solid performance position it as the next crypto to explode. However, as with any investment, investors must conduct thorough research and consider the risks associated with the crypto market.
4. The Graph (GRT)
GRT has seen a positive trend in the last 24 hours, marking a 4.73% increase in its price. As an indexing protocol, GRT aims to provide data querying services for Ethereum and other Layer 1 chains. With the growing adoption of blockchain technology, there is a potential for a consistent uptrend in GRT’s price.
Furthermore, the new year may bring improvements for GRT, mainly when the anticipated altcoin rally occurs later in the year. Moreover, GRT has shown a 72% increase in price last year, outperforming 68% of the top 100 crypto assets. The project trades above the 200-day simple moving average, indicating a positive trend.
The Graph is currently ranked #50 on CoinMarketCap, with a live market cap of $1,467,065,369. A total of 9.39B GRT is currently in circulation out of a max supply of 10.06B GRT. The token demonstrates a substantial market presence.
However, potential hurdles may impact GRT’s gains. Investors should carefully analyze the token to determine profitable strategies. Moreover, GRT is a coin worth watching this season. While it has shown positive growth recently, potential challenges and historical performance patterns should be considered by investors in developing their strategies.
Meanwhile, Crypto thefts declined significantly in 2023, plummeting by 54.3% to a total of US$1.7 billion, according to a report by Chainalysis. This comes after a tumultuous 2022, where a record-setting US$3.7 billion was lost to hacks and thefts.
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