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The overall feeling in the market has been positive since the close of Uptober. This month, Bitcoin (BTC) finally rose above its all-time high of $73K and almost closed in on the 100K mark. Meanwhile, many investors have already made plenty of gains from the November 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, Catslap. This new memecoin introduces a Play-to-Earn (P2E) feature that brings a more potent utility edge over other meme coins. In addition, rumours of a significant token burn have fueled optimism. These developments have already started to impact $SLAP’s price positively.. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Ethereum Name Service (ENS)
ENS Labs, the team behind Ethereum Name Service (ENS), is making bold moves to improve scalability. By the end of 2025, they plan to launch Namechain, their Layer 2 rollup network. This initiative aims to make ENS, a decentralized naming system that links human-readable names to crypto addresses, more affordable and accessible across various Layer 2 networks.
Jeff Lau, the ENS co-founder, introduced Namechain at the “frENSday” event in Bangkok. Unlike many projects, ENS Labs doesn’t focus on total value locked (TVL). Instead, its priorities are usability, interoperability, and reducing users’ costs. This unique approach highlights its commitment to improving the system for its established user base rather than chasing traditional metrics.
The market responded quickly to the announcement. ENS token prices rose 10.8%, jumping from $19.46 to $21.56 within 30 minutes of the news. However, the bullish momentum slowed, and the price dropped to $19.22. As of today, 28 November, the token showed significant gains, climbing 42.44% in the past 24 hours to trade at $35.12. Trading volume surged by 319.10% to $2.57 billion, and the market cap reached $1.20 billion, reflecting growing interest and optimism around ENS.
ENS has consistently gained attention for its innovative approach. While its price has struggled to break past key resistance levels this year, recent movements suggest a potential for growth. If the current momentum continues, ENS could soon experience a healthy upswing and reach higher price ranges.
2. Ethena (ENA)
The recent bullish trend in the crypto market has sparked impressive performances from altcoins like Ethena (ENA). Over the past two days, ENA surged over 20%, bringing its price to $0.7177 and boosting its market cap to around $2.04 billion.
Yesterday alone, ENA climbed 14%, reaching $0.6435 and outperforming many of its peers. Moreover, its market cap increased by 10.68% in just 24 hours, reaching $1.82 billion. Notably, Arthur Hayes, Co-Founder of BitMEX, has increased his position in ENA, as shown in his latest portfolio. Hayes’ holdings total $33.167 million, mainly focusing on Ethereum and Ethena.
Adding to this, Ethena’s recent price spike followed a breakout from the $0.64 level, completing a falling wedge pattern. This formation, characterized by lower highs and lows within a contracting range, often signals an upward breakout. The move suggests growing buyer momentum, paving the way for further gains.
The sUSDe distribution this week is 29% APY at ~$4.1b of USDe supplyhttps://t.co/GiGIdkvGv3 pic.twitter.com/q45NH2kvkZ
— Ethena Labs (@ethena_labs) November 28, 2024
Interestingly, Hayes increased his ENA allocation after a 15% price dip, reflecting confidence in the token’s recovery. By purchasing during the decline, Hayes seems to be betting on a rebound, potentially signalling a “buy-the-dip” strategy.
Technical indicators point to solid recovery potential. For instance, trading volume has risen, and a bullish moving average crossover suggests continued upward momentum. The $0.58 support level remains strong, and if ENA can break past the $0.70 resistance, further gains are likely.
3. Catslap (SLAP)
The newly launched Catslap ($SLAP) meme coin has quickly made waves, climbing over 50% in just eight days. With a market cap of $29 million, this low-cap coin offers significant upside potential. Moreover, $SLAP is trending on the DexTools hot pairs ticker, reflecting the growing interest in the token.
Built around the fun and viral narrative of a slapping cat, Catslap stands out with its unique Slapometer feature. Unlike cat-themed coins like Popcat, which focuses on clicks, Catslap adds a competitive twist by breaking the Slapometer down by country. Japan currently leads the leaderboard, followed by Malaysia and Australia, highlighting the Asia-Pacific region’s enthusiasm for the coin.
Excitement is building for a forthcoming “major announcement” from Catslap. This update includes introducing Play-to-Earn (P2E) features, giving Catslap a more potent utility edge over other meme coins. In addition, rumours of a significant token burn have fueled optimism. These developments have already started to impact $SLAP’s price positively.
Adding to its accessibility, $SLAP is available on the Web3 crypto wallet Best Wallet. Through its “Upcoming Tokens” feature, Best Wallet caters to a tailored audience of 60,000 users. This partnership complements the team’s ongoing marketing efforts across crypto platforms and social media.
Staking $SLAP is also straightforward through the Best Wallet app, available on Android and iOS. Furthermore, stakers can earn an impressive 40% annual yield with a minimum staking period of seven days. Early unlocks are possible by burning part of the staked balance, and 20% of the token supply is dedicated to staking rewards.
4. Livepeer (LPT)
Livepeer (LPT), a decentralized video-streaming protocol, is attracting significant attention as a top-performing altcoin in the wake of a recent bearish market. Launched in 2017, Livepeer is the first open-source live video streaming platform, offering an innovative solution for broadcasters.
After hitting an all-time low of $0.42 in March 2020, LPT soared to a record high of $100.24 during the 2021 bull run. Recently, it has shown renewed strength, growing 9.57% in the last 24 hours and 43.77% over the past week. Its current price is $14.36, with a market cap of $519.26 million. Trading volume has also surged 48.80% in the past 24 hours, reaching $102.39 million, reflecting increased investor interest.
Livepeer’s decentralized approach provides an economically efficient alternative to centralized broadcasting solutions. Moreover, it enables producers to seamlessly upload, reformat, and distribute their content to users and platforms. By cutting costs and boosting efficiency, Livepeer has become an appealing choice for broadcasters.
Adding to its strengths, Livepeer uses a modified delegated proof-of-stake (DPoS) consensus mechanism. This eco-friendly and scalable system stands out from traditional proof-of-work models, improving security and usability. Furthermore, its integration with Ethereum’s extensive DApp ecosystem solidifies its position as a leader in decentralized video streaming.
5. EthereumPoW (ETHW)
EthereumPoW (ETHW) offers a unique take on Ethereum by maintaining proof-of-work, unlike Ethereum’s mainnet, which transitioned to proof-of-stake after the Merge. By preserving Ethereum’s original state at the time of the Merge, ETHW allows developers and stablecoin issuers to replicate their DApps and liquidity, carving out a distinct niche in the crypto market.
Currently trading at $4.27, ETHW has seen a significant 19.20% price increase in the past 24 hours. Its liquidity stands out, with a 0.356 volume-to-market cap ratio, indicating intense market activity and investor confidence. Additionally, its 14-day Relative Strength Index (RSI) is at a neutral 49.99, suggesting the potential for steady sideways movement. Over the past month, ETHW has enjoyed 15 green days, reflecting gradual yet consistent upward trends.
ETHW’s low 30-day volatility of 8% makes it an attractive option for cautious investors. Moreover, it is trading 90.72% above its 200-day Simple Moving Average (SMA) of $2.23, highlighting strong long-term momentum.
Over the past year, ETHW has grown by 48%, outperforming 35% of the top 100 crypto assets. This resilience and growth demonstrate its potential as a solid investment. Investors looking for a unique proof-of-work opportunity may find EthereumPoW’s performance and stability appealing in a dynamic crypto landscape.
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