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Next Cryptocurrency to Explode Friday 11 August – XRP20, Fantom, dYdX

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Fantom FTM
Fantom FTM

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The crypto market is yet to recover from its fallen position. Things have not been rosy for the market and investors for a few days. It was hoped that it would rebound once policymakers finalized their meetings and inflation reports. The market report yesterday was not impressive. It was hung on traders’ aloofness while they expected inflation reports from China and the US.

Inflation reports from the US came in relatively steady, and it helped the Dollar to rise to a month’s height. Stock markets in Asia were on the receiving end of things. They dipped as a result of uncertainties in China.

The Japanese Yen fell to a six-week low because of the public holiday that thinned trading out. Policymakers in the US welcome the inflation reading. They, however, share the opinion that things can be much better.

The Next Cryptocurrency To Explode

The crypto market’s volatility can be unnerving for traders and investors. Policy and financial situations have a lot to do with the existing atmosphere. It is possible that the crypto market does not see a convincing break till all else is properly resolved. On the other hand, trading activities could spike again once traders have renewed impetus.

On a general scale, the crypto market needs new financial inflow to grease the wheel of its operation. Hopefully, the outstanding projects will be able to encourage new investments. That’s what the next Cryptocurrency to Explode post aims to let everyone see.

1. XRP20 (XRP20)

While XRP is struggling in a legal battle with the US SEC, an alternative is rising fast. XRP20 is a new staking platform, making its way to huge gains. XRP20, even though it bares a similar name to Ripple’s token, has nothing to do with it. It is an entirely different project working hard to become the next cryptocurrency to explode.

Without a doubt, it is trying to recreate the huge gains made by Ripple in its peak days. It is doing this by offering high yields and utility to investors. It is almost like Ripple’s XRP, but it has impressive improvements. These guarantee high returns and stable growth. The XRP20 platform has the design befitting a platform like it according to industry standards.

Its presale has been on and is open to all categories of investors. It does not have any closed presale. So investors are guaranteed the safety of their investment.

XRP20 may look like most other crypto and staking platforms at face value. It, however, stands out with the unique features that come along with its design. To start with, XRP20 has a total supply of 100 billion tokens. Just 40% of that figure has been put up for sale at the presale. Another 40% has been set aside to serve as a reward to stakers. 10% is set aside to go to decentralized exchange liquidity pools. And finally, 10% is allocated to burn.

XRP20 is set to burn 0.1% of the tokens used to cut down on its token supply. This is a means of raising the value of its tokens as time goes on. The XRP20 team decided to go that route as it is the industry’s best practice. It will help the token stay relevant long after it is launched.

The presale has a hard cap of $3.68 million. It has raised $1.92 million so far. This means that the presale is more than halfway to the end. Interested investors can buy it at $0.000092 and make their portfolio richer. 

Note that the price is just a minute fraction of the current price of XRP. That’s XRP20 is drawing many investors to its network. It is a sign that the new cryptocurrency will rise sharply as soon as it goes live.

Analysts say XRP20 will gain as much as 20x when it launches on decentralized exchanges. It will also be one of the best gainers of 2023. 

Based on the Ethereum network, it is set to have great utility. Those who missed out on the original XRP token can get XRP20 at a real discount.

Visit XRP20.

2. Fantom (FTM)

Fantom is one of the tokens showing strength on Friday. Despite having had its share of the bear trend, it is fighting its way back up. FTM has shot up by more than 3% as the next cryptocurrency to explode. Its market capitalization is now above $681 million, as it had a trading volume of $76.3 million in the last 24 hours. That is more than a 50% increase in trading volume.

One of the factors possibly responsible for this rise is the introduction of its new wallet version, 1.2. Although it had been launched since the 2nd of August, it may be what is called a delayed effect.

Version 1.2 was launched so that users could have a better platform experience. The upgrade provides users with an opportunity to participate in governance. It also lets them export software keys and also send tokens to custom domains.

FTM price chart

Importantly, FTM holders will be able to transact with the token across different networks.

Another factor is its gas monetization. The platform recently notified users about a governance proposal. However, it has been approved since January. It said that the FTM burn rate had been reduced from 20% to 5%. The 15% difference will be moved to monetize gas. 

According to Fantom’s plan, the program will be used to reward high-quality decentralized apps. It will also encourage talented creators to stay on the platform while they support its infrastructure. 

3. dYdX (DYDX)

dYdX is experiencing some bullish momentum, also. It started Friday morning as one of the top gainers on CoinMarketCap. Bull took the crypto asset from $2.06 to $2.16 as of the time of this report. If the bullish momentum weakens, it is not likely to drop below $2.06.

While the dYdX asset is experiencing this uptrend, the market capitalization has risen to $337.8 million after getting to a 2.87% peak. Its 24-hour trading volume also rose by 0.71% to hit $72.5 million. The increased market capitalization shows that there is renewed interest in the DYDX token. It also shows that there is a lot of potential for the price to rise further.

DYDX price chart

DYDX RSI is rising on the price chart as it trades with the US Dollar. It has a 72.14 reading that also shows bullish momentum. It indicates that there is a lot of buying pressure in the market and that the price will increase as time goes on. Nevertheless, traders are advised to exercise caution while trading because RSIs higher than 70 may also indicate that there is an overbought condition. The result of that will be a price correction.

The utility of the dYdX platform is also drawing people and renewing their interest. The platform has inspired investors’ confidence since its operation, and that is not about to go away anytime soon.

4. THORChain (RUNE)

THORChain’s RUNE token was at the head of the crypto market for a good time on Friday. The protocol attracted investors because it recently unveiled a revolutionary lending design that features zero expiry, zero liquidity, and zero interest.  

THORChain is a decentralized liquidity protocol that functions across different chains. It enables an easy asset swap across blockchains. It equally serves as a settlement platform that facilitates exchanges between eight blockchains. These blockchains are Bitcoin, Ethereum, Avalanche, Binance, Bitcoin Cash, Cosmos Hub, Dogecoin, and Litecoin.

The THORChain platform is built and revolves around three main financial principles. The first is Asset Swapping. Users have access to easily swap any asset of any blockchain to any other asset on another blockchain when they use THORChain.

RUNE price chart

The second principle is Asset Saving. With THORChain, users can securely store their assets on any blockchain.

The third principle is Asset Lending and Borrowing. THORChain enables users to perform both lending and borrowing operations across different networks.

THORChain runs on a proof-of-stake mechanism, and it uses Cosmos’ Tendermint. With the PoS mechanism, validators on THORChain have to bond the platform’s native token, RUNE. There is also a deterrent to keeping network validators in check. Their tokens can get slashed if they carry out wrongdoings. 

Network nodes also play an important role in transaction validation with the network. 

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