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The global crypto market has seen an upward trend following the recent Bitcoin halving. The total market cap is $2.43 trillion, marking an increase of 0.34% in the 24 hours. Additionally, the intraday total market volume for cryptocurrencies has reached $66.24 billion, reflecting a 0.48% increase. As a result, certain coins have shown promising potential for value appreciation.
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This article analyzes some of these tokens and explores the factors contributing to their potential rise. GRT is trading at $0.2963, showing a modest intraday increase of 0.07%. Meanwhile, an extensive upgrade is underway for the Stacks blockchain, referred to as Nakamoto. Additionally, the 99BTC presale campaign has raised over $713,867.84, indicating substantial interest from investors. Moreover, over the past six weeks, the number of wallets holding at least 1 million XRP has risen by 3.1%, approaching an ATH.
1. The Graph (GRT)
The Graph is focused on simplifying blockchain data access for developers constructing dApps. It currently supports indexing data from Ethereum, IPFS, and POA, with plans to include more networks. Recent trends indicate a positive reception for The Graph, marked by substantial growth in trading volumes and investor interest.
This trend mirrors growing confidence in AI altcoins. Particularly, GRT has rewarded its early investors since its inception in 2021, thanks to its restricted token supply and robust community backing. Furthermore, the coin reached an all-time high (ATH) of $2.88 in February 2021.
As of the latest data, GRT is trading at $0.2963, showing a modest intraday increase of 0.07%. Last year, its price has surged by 118%, surpassing 57% of the top 100 crypto assets. Moreover, it currently trades above the 200-day simple moving average, indicating an uptrend. Market sentiment towards GRT remains bullish, with the Fear & Greed Index of 71 (Greed).
Subgraphs on The Graph are ultra-fast, super reliable & low-cost open APIs ⚡
Dapps like @VirtuSwap are leveraging The Graph Network to power their front ends with curated blockchain data & because the subgraphs are open, anyone can easily & transparently query them!
Welcome to… https://t.co/jS0nHV7ouT
— The Graph (@graphprotocol) April 19, 2024
Additionally, the coin has seen 15 green days out of the last 30, showcasing its resilience and market demand. Analysts predict an average price of around $0.41 for The Graph in 2024, with a potential maximum trading price of approximately $0.59.
2. XRP (XRP)
According to Santiment, XRP has surged to a record high in millionaire addresses, indicating a possible bullish trend. The most recent report highlights an impressive XRP price spike, reaching as high as $0.5715 today. Over the past six weeks, the number of wallets holding at least 1 million XRP has risen by 3.1%, approaching an ATH.
These large-scale investors, often called whale wallets, can significantly influence price movements due to their substantial buying and selling activities. Plus, the increasing number of whale wallets evidences the growing confidence in XRP’s prospects. This accumulation from high-net-worth individuals may contribute to the current XRP price rally.
The global financial system is experiencing a unanimous increase in demand for stablecoins centered around utility, liquidity and trust.
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In addition to the price surge, another positive indicator for XRP is the increase in its supply in profit. With the recent rally, over 77% of the XRP supply is now in profit, representing nearly 78 billion XRP. Moreover, this trend is expected, as higher prices typically result in a more significant portion of the supply being profitable.
3. 99Bitcoins (99BTC)
The recent launch of the 99Bitcoins presale has caught investors’ attention within the cryptocurrency community. The project aims to establish an ecosystem centered around crypto education. According to the whitepaper, the 99Bitcoins Token will grant access to premium courses, expert trading signals, community channels, and more.
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Learn more here: 👉 https://t.co/E4nW0KGYFj#99Bitcoins #Crypto pic.twitter.com/MkAvYJHFKb
— 99Bitcoins (@99BitcoinsHQ) April 23, 2024
The “Learn-to-Earn” presale campaign has raised over $713,867.84, indicating substantial interest from investors. Additionally, 99Bitcoins has initiated a noteworthy crypto airdrop, allowing participants to receive $99,000 worth of BTC over the campaign period.
Furthermore, 99Bitcoins is at the forefront of integrating with BRC-20, an experimental token standard facilitating the development of dApps and digital assets directly on the Bitcoin network. This integration allows holders to leverage Bitcoin’s security while exploring various new applications.
With each token priced at $0.001, 99BTC offers an affordable opportunity for those interested in a project centered around crypto education and incentivized learning. A 6-day window remains before the next price increase.
4. Stacks (STX)
The Stacks blockchain network, known for its open-source nature, allows for the creation of smart contracts on the Bitcoin blockchain, prioritizing asset security and privacy. Over the past year, Stacks has demonstrated substantial growth, with its value surging by over 317%. However, the token has experienced a decrease of 14.99% in the last month.
An extensive upgrade is underway for the Stacks blockchain, referred to as Nakamoto, in homage to Bitcoin’s pseudonymous creator. This upgrade marks the largest enhancement to the Bitcoin scaling layer to date. The process commenced at Bitcoin block height 840,360, with completion expected by late May.
Furthermore, Nakamoto aims to address congestion issues by decoupling Stacks’ block production schedule from that of Bitcoin. Despite having a higher transaction throughput compared to Bitcoin, Stacks initially produced blocks at the same rate, leading to network congestion. The upgrade will introduce a new method for producing Stacks blocks, enhancing its proof-of-transfer consensus algorithm.
Nakamoto has begun rolling out 🧡
At Bitcoin block 840,360, the first fork kicked off the two-step rollout process that will bring us Nakamoto!
This means there's only one more step left before fast blocks, Bitcoin finality, and more are available to all!
Read more 🧵 1/6 pic.twitter.com/dvE0QkSlGt
— stacks.btc (@Stacks) April 22, 2024
The upgrade process involves the introduction of new block “signers” responsible for validating transaction “tenures.” As Stacks developers state, this transition period, lasting until May, serves as a practice phase.
Over the past 24 hours, the token has rallied by about 3.30%, reaching approximately $2.99. This surge has propelled Stacks into the top 24 tokens by market capitalization for the first time. Currently, sentiment toward Stacks price prediction is bullish, while the Fear & Greed Index indicates a level of 71, indicating greed among investors.
5. Kaspa (KAS)
In recent developments, Kaspa has drawn attention to its alignment with Bitcoin’s foundational principles while aiming for significant advancements. Kaspa’s vision encompasses the integration of sophisticated smart contracts and achieving ultra-high throughput, surpassing ten transactions per second.
Following a notable performance in 2023, KAS initially exhibited a neutral trajectory in the first month of 2024. However, escalating market volatility triggered a surge, with the token’s price skyrocketing by 88.63% within a short span. Moreover, Kaspa experienced a remarkable rise last year, marking a staggering 409% increase in its price.
Exciting see the ecosystem expanding. https://t.co/fMp1Iwl8kK
— Kaspa (@KaspaCurrency) April 22, 2024
This ascent has outpaced 86% of the top 100 crypto assets, surpassing Bitcoin and Ethereum in performance metrics. As of the latest update, KAS’s current price is $0.127, representing a 6.13% increase in the past 24 hours. Notably, the token boasts high liquidity, underpinned by its market capitalization.
As well, experts predict that Kaspa’s price will likely go up, showing bullish sentiment. The Fear & Greed Index is 71, indicating investors are greedy about the market. Additionally, Kaspa is trading at 103.27% above the 200-day Simple Moving Average (SMA), which is $0.063593, signaling a position near its cycle high.
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