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The overall feeling in the market was positive from the close of October 2024 until the beginning of this year. Last month, Bitcoin (BTC) rose above its all-time high and surpassed the 100K mark. Eventually, it exceeded $103K before dropping to 96.4K as of press time today. Meanwhile, many investors have already made plenty of gains from the November/December 2024 bull run.
Determining the next cryptocurrency to explode might be challenging as most funds are attracted to pumping assets. However, this article will explore the performance of cryptocurrencies with much growth potential, especially before the year runs out. The aim is to identify coins with some potential and help investors and traders make informed decisions about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of the presale token Solaxy. This new meme coin offers a unique blend of these two dynamics by combining meme coins’ excitement and reward potential with the practical utility of a Layer 2 blockchain solution.
1. BinaryX (BNX)
BinaryX has emerged as a standout performer in the altcoin market, showing remarkable growth across multiple timeframes. After struggling in October 2024, when the token faced a bearish phase, its momentum shifted dramatically this year. Over the past month, BinaryX has surged by 320.36%, reaching a trading price of $1.16.
The token’s strong rally is supported by a 7.79% increase in trading volume over the last 24 hours, helping its market cap rise by 2.13% to $436.66 million. This growth has fueled optimism among analysts, with some predicting that BinaryX could continue climbing in the coming weeks. For this to happen, BNX must break through resistance levels and establish them as new support zones. Based on current trends, the token could soon reach $1.5 and possibly move toward $1.9.
BinaryX is a major player in the GameFi sector, aiming to revolutionize blockchain gaming with sustainable economic models and immersive experiences. As a BEP-20 token on the Binance Smart Chain, BNX benefits from strong security, reinforced by a Certik audit score of 83.
BNX Spring Festival Couplets Contest 🧧🎉
Event Overview:
BNX invites the community to create fun and creative couplets, blending BNX and Spring Festival elements to wish for a prosperous 2025! 🧧🌟Requirements:
1⃣Create a couplet with the horizontal scroll: “New Year, great… pic.twitter.com/xORPfz75z5— BinaryX (@binary_x) January 29, 2025
Despite being priced lower than many leading cryptocurrencies, BinaryX has delivered impressive results. Over the past week, it has gained 25.37%, while its yearly growth stands at 284.48%. This performance places it ahead of 89% of the top 100 cryptocurrencies.
2. Toncoin (TON)
Toncoin (TON) is on the verge of a significant breakout, backed by strong fundamentals and rising market confidence. The token has held above $3.64 for the past two weeks, creating a solid support zone. Analysts predict a 25% rally, with price targets between $4.2 and $4.8. Technical indicators also suggest growing momentum, hinting at a potential upward surge.
With its deep ties to Telegram and increasing adoption, Toncoin continues to solidify its position as a leading project in the Web3 space. The total value locked (TVL) in Toncoin’s ecosystem has surpassed $204 million, while the supply of stablecoins on the network has grown beyond $1.36 billion. Telegram’s ongoing commitment to blockchain technology further strengthens Toncoin’s position. A recent milestone in this collaboration was the migration of all mini-apps on the platform to the Toncoin network by February 21.
Market analysts believe that Toncoin is nearing the end of a prolonged ABC correction that began in April 2024. A breakout from this phase could trigger a significant price surge, pushing TON toward key resistance levels. Fibonacci extensions suggest that the token could rally to the $4.2–$4.8 range. If TON manages to break through this resistance zone, further gains could follow.
Gm 💎
remember, Winners never quit! pic.twitter.com/6sInjtehj7
— TON 💎 (@ton_blockchain) February 22, 2025
Toncoin’s controlled tokenomics appeal to long-term investors. With a fixed supply capped at 2.66 billion tokens, the market will not face any major dilution until late 2025. The next scheduled token unlocks are set for October 2025 and February 2027, ensuring a stable supply and reinforcing Toncoin’s long-term investment potential.
3. Solaxy (SOLX)
Solaxy is making waves in its presale, successfully reaching another funding milestone. This growing interest is largely due to its ability to address one of Solana’s biggest challenges—scalability. Investors see Solaxy as a much-needed solution for the congestion issues that have affected Solana during periods of high activity.
In the past, Solana has struggled with network slowdowns, especially during major price surges. One notable example occurred in June 2022, when NFT mining bots overwhelmed the network, causing yet another outage. These disruptions have frustrated traders who rely on Solana’s fast transaction speeds, particularly in the fast-moving meme coin market.
Solaxy offers a way to ease this congestion. As a Layer-2 solution, it processes transactions separately from Solana, handling them quickly and efficiently before bundling them together and submitting them back to the main network for validation. This reduces strain on Solana while maintaining the benefits of speed and security. Moreover, Solaxy’s modular infrastructure allows developers to create applications with ease, making it a flexible and scalable addition to the blockchain space.
Given Solaxy’s role in improving Solana’s performance, analysts believe both could follow a similar price trajectory. With Solaxy strengthening Solana’s ecosystem, some investors speculate that its token, $SOLX, could achieve Solana-like growth, potentially rising by 351 times its current value.
The project has also made significant progress in rolling out its technology and preparing for its official launch. At this early stage, Solaxy offers investors a chance to secure tokens at a lower price. The Layer-2 sector of Ethereum is already worth $20 billion, with several projects surpassing $1 billion in value. Solana’s Layer-2 ecosystem is beginning to take shape, and Solaxy could be the first major player in this space.
4. EigenLayer (EIGEN)
EigenLayer has experienced mixed performance lately, with daily and monthly losses affecting its overall trend. However, the project has managed to counterbalance some of these declines with a 22.78% weekly gain and a 19.03% rise in trading volume. While short-term struggles persist, investor confidence remains strong due to EigenLayer’s commitment to decentralization and collaborative decision-making within its ecosystem.
The past few months have been particularly challenging for EigenLayer, especially after a major security breach that led to the loss of 1.6 million tokens valued at $6.8 million. Despite this setback, the project is steadily recovering.
Developers have introduced a structured plan to distribute 67 million tokens—4% of the initial supply—over the next year. These tokens will be released weekly, with 3% allocated to Ethereum and liquid staking token stakes, while the remaining 1% will be designated for EIGEN stakes and operators.
Restaking was just the beginning.
2025 is the year of Autonomous Verifiable Services.
Want to know what EigenLayer is building this year?
We’ve posted an updated product roadmap of features we’re building, topics we’re exploring, and design objectives that drive our… pic.twitter.com/rtl3cqJydo
— EigenLayer (@eigenlayer) February 21, 2025
On January 14, EigenLayer took another step toward strengthening its security by forming a Protocol Council. This new council is responsible for maintaining protocol integrity and evaluating EigenLayer Improvement Proposals (EIPs). The Eigen Foundation announced this initiative via social media, emphasizing the project’s dedication to refining its framework. In addition, EigenLayer recently introduced a testnet to support its latest protocol upgrade.
One of the key enhancements in this upgrade is “Slashing,” a mechanism designed to improve security and accountability within the network. The EigenLayer team highlights Slashing as a fundamental component of Asset Value Securing (AVS), ensuring that participants uphold their commitments and contribute to a more stable ecosystem.
5. Siacoin (SC)
Siacoin (SC), the native token of the Sia platform, has recently gained traction with a 1.63% price increase over the past week. Though a modest gain, it reflects the growing interest in decentralized storage solutions. Siacoin plays a crucial role in Sia’s blockchain-based cloud storage system, offering a secure and cost-efficient alternative to traditional providers like Amazon and Google.
Sia operates by allowing users to rent out unused storage space, creating an affordable and decentralized option for data hosting. The platform prioritizes security by utilizing a proof-of-work consensus, where miners validate transactions and safeguard the network.
Additionally, files uploaded to Sia are divided into 30 encrypted fragments and distributed across multiple hosts, ensuring redundancy and protection against data loss. Smart contracts govern all storage agreements, enabling a trustless and automated system.
In terms of short-term performance, Siacoin remains highly liquid, with a market cap-to-volume ratio of 0.1378, reflecting active trading. The 14-day Relative Strength Index (RSI) sits at 55.18, suggesting neutral conditions with a potential for sideways movement. With a 30-day volatility rate of just 12%, Siacoin has demonstrated stability, which could attract long-term investors.
From a broader perspective, Siacoin is currently trading 26.79% below its 200-day simple moving average (SMA). While this may indicate recent underperformance, it also presents an opportunity for growth as Sia continues to expand its capabilities and user base.
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