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The market had a total trade volume of $29.87 billion over the last 24 hours. That, however, is a 5.45% drop from the trade volume reported in our last next cryptocurrency post. The total volume in The decentralized finance sector has a trading volume of $2.15 billion and accounts for 7.20% of the entire cryptocurrency market’s 24-hour trading volume. Stablecoins, on the other hand, has a trading volume of $27.47 billion. This amounts to 91.97% of the whole crypto market’s 24-hour trading volume. Bitcoin’s dominance is now at 45.98%, a 0.09% from the last 24 hours.
Market Cap Chart
The crypto market followed the trend of global finance and its outlook. Stock markets across the world finished Thursday on mixed notes. America’s S&P 500 was a gainer by a mere 0.99% while IPC lost 0.02% on the day. Macrofinancial instability like this normally sends investors scrambling for a safe haven in the crypto market. This is expected to be seen on a larger scale if traditional finance continues to dip.
Our next cryptocurrency to explode features examine beneficiaries of investor largesse. They are the assets to invest in and the ones with the next high returns.
The Next Cryptocurrency to Explode
1. AiDoge (AI)
AiDoge continues to be promising as there are 16 days to its Claim and Exchange Listing. Currently selling at $0.000336, the project raised more than $14 million during its presale. Investors who could not take advantage of the presale now have a final chance before the asset goes on crypto exchanges.
The next cryptocurrency to explode, AI, is powered by artificial intelligence. The prospect it has to sell and take over the market has not been more imminent. The platform took another opportunity to write about the benefits of its native cryptocurrency on its Twitter page.
GM #AiDogeArmy! ☕️☀️
Don’t forget about the amazing functionality that $AI brings to the table. We’re not your average #Memecoin! 🚀🌕
💎 AI-Powered Memes
💰 Staking rewards
🗳 Voting power that shapes our communityGet ready for CLAIM & LAUNCH on June 19th! 🔥
👉… pic.twitter.com/EHgksa0orP— aidogecrypto (@aidogecrypto) June 2, 2023
It noted that the AI token generates memes powered by artificial intelligence and gives staking rewards to users. Furthermore, it gives voting rights and power to the token holders to participate in governance that shapes the AiDoge community.
The network encourages investors to unlock the power of artificial intelligence while deciding on investments. AI enthusiasts and new investors should take the chance to launch into the twin world of artificial intelligence and cryptocurrencies. It should come before the presale is over as AI is the next cryptocurrency to explode.
2. The Sandbox (SAND)
The Sandbox has had just a little volatility lately when you compare it with other leading cryptocurrencies in the market. As of this moment, the asset is up by 0.30% over the last 24 hours and now sells at $0.56.
Crypto analysts are giving the native cryptocurrency of the network, SAND, an average rank of 28 for its volatility. That places it in 28% of the market’s least volatile cryptocurrencies. This low volatility reading shows that SAND is within a moderate swing range and is less susceptible to price manipulations.
The cryptocurrency’s price is currently trading above the resistance level. It also has a support level created for it at $0.52. The resistance level is also at $0.55. This means The Sandbox is well positioned for a bull run once the coast is clear. The next cryptocurrency to explode invites investors before the current market rally runs out.
At this rate, only deep-pocketed investors might be able to buy SAND if and when its price hits the roof. It will be hard-driven by metaverse and game lovers with the hope of securing future benefits. You can get some for yourself on the eToro platform.
3. Wall Street Memes (WSM)
The Wall Street Memes token has just 2 days to the end of the current stage of its ongoing presale. It’s currently selling at $0.0256 and it has raised well over $2.6 million so far. The next presale stage of this next cryptocurrency to explode will have the price rising to $0.0256.
This token is becoming a very distinctive player in the crypto industry despite the fact that it is new. It has its own distinctive features that separate it from those leading the market now. It takes a cue from the two concepts of global finance and memes. The ability of its developers to blend these two worlds creates an intriguing idea.
Wall Street Memes plans to bridge the existing differences between the existing financial institutions and cryptocurrencies. It also plans to especially appeal to investors who might find the humor in the idea. WSM offers investors a unique point of view about meme coins through its approach focused on various utilities.
Snooze you lose 😴 pic.twitter.com/WDR643C7yO
— Wall Street Memes (@wallstmemes) June 2, 2023
There are reasons why the market really believes that WSM is the next cryptocurrency to explode. The first reason is the ongoing presale itself. This is when the development team will be doing a lot of work and ensuring the network’s security and building its smart contract. This will inevitably aid the community’s growth too.
The second reason is the nature of activities that will begin in its listing phase. It will be a time to collaborate and partner with influencers and other industry players. From the look of things, all players are ready to work with Wall Street Memes.
Yet another reason is Wall Street Memes’ community empowerment to give back to the community. The perks and benefits are available to just community members for now. It’s the perfect time for willing investors to get into the game now.
4. Filecoin (FIL)
The US Securities and Exchange Commission (SEC) recently stepped in and asked Grayscale Investments to take back its application seeking to make Filecoin a Trust.
The US SEC said it is concerned about the platform’s native token, FIL. The regulator said the asset falls short of what could be considered a security.
As a decentralized storage network, Filecoin has gained a lot of attention within the crypto space in its time of operation. Market observers and investors have praised the platform for its innovative way of thinking about storage. It leverages the blockchain and it plans to further transform the file storage ecosystem by creating a decentralized data marketplace.
Despite the recent development that has raised questions about the platform’s status, investors and users still have confidence in it. Either as security or classified otherwise, Filecoin holds a lot of prospects.
Individuals and corporate storage providers are expected to invest heavily in the Filecoin project in the coming days. Other crypto lovers are also encouraged to step in to take a piece of the cake now. Check it out on eToro.
5. Launchpad XYZ (LPX)
Launchpad XYZ has its presale going on and it has raised more than $800,000. 1 unit of its native cryptocurrency, LPX, currently sells for $0.0445 and the next price it would climb to at the next stage is $0.046.
Web3-driven crypto platforms can be quite tricky for new investors. There are a lot of new concepts and technicalities to learn. Launchpad XYZ is the best platform with the goal of curating a portal that provides easy accessibility to the best crypto projects in the space. Users will also be able to have custody of their assets.
Launchpad XYZ will give unrestricted access to the latest and best Web3 experience. These range from P2E games to NFTs. The platform users will have that access to the P2E games and metaverse through the platform’s Web3 gaming space and the platform’s library.
It will equally feature a market trading portal, where all trades will be carried out through Launchpad XYZ’s decentralized crypto exchange.
Attention, all #Gamers 🎮💰
Prepare to dive into Launchpad XYZ’s epic #P2E game library, where the games with the biggest earning potential and most thrilling engagement await you! 🚀💥
Join our #Presale now ⬇️https://t.co/yYq4jnPZiL#Web3Gaming #PlayToEarn #Blockchain pic.twitter.com/XAvd8uXkB2
— Launchpad.xyz (@launchpadlpx) June 1, 2023
The platform says it will focus on drawing market liquidity providers to make sure that trades are completed fully on the Launchpad XYZ decentralized crypto exchange. The platform will also provide a P2P NFT exchange. Furthermore, users will also be able to take immediate full self-custody of their individual crypto assets through Launchpad XYZ’s very own web3 wallet.
Eventually, Launchpad. XYZ wants to facilitate a massive adoption of cryptocurrency usage by acting as a bridge between the current Web2 and Web3 platforms for brands. This will enable them to have access to the power of validated data and immutable contracts, whilst it wraps them in top market experiences.
With this plan, Launchpad XYZ plans to help brands onboard up to 10 million new Web3 users. It will provide tools for them, as well as knowledge, and audiences. This will be in tandem with the present infrastructure.
Investors should take advantage of the ongoing presale to launch into this amazing opportunity.
6. Maker (MKR)
Maker (MKR) is currently up in the market by $.99% and selling at $666.70. The asset’s trading volume in the last 24 hours stands at $14,797,606 while its market capitalization is at $652.17 million.
A vote on the Maker community on Thursday has decided that the community should invest $1.28 billion in the US Treasuries. The proposal was submitted to the platform governance forum early in May. According to the purchase plan published by the administration on the first of June, 16.67% of the whole DAI stocks will be used to buy the US Treasuries bond within a month. The same amount of funds was listed for the same purchase again in the second month, third month, and so on.
Maker’s governance mechanism will ask trading entities to mint DAI and exchange it for other available stablecoins. They will proceed to buy the US Treasury bonds at an equal rate over their maturities between 0 to 6 months.
Voters on the Maker platform supported the move to open another Real World Asset vault. They call this one BlockTower Andromeda. According to the plan, the platform will pay BlockTower a sorting fee of 0.15% worth $1.9 million. The broker on this deal is Celadon Financial Group while the custody will be taken care of by Wedbush Securities.
According to the voting page, it was revealed that 99.99% of the community’s vote went in favor of the new project. It was an overwhelming decision that had to be carried out immediately.
The final approval to buy the US Treasury bond worth $1.28 billion came up some months after the community had approved a proposal to that effect. The proposal was to raise the Treasury bond holdings by up to 150%. It was going to rise from $500 million to about $1.25 billion. But the recent approval comes just one day after a stablecoin issuer, Circle, removed all the Treasury bonds used as their stablecoin reserve.
According to other reports, Circle also bought $1.1 billion worth of corporate and government bonds early in the year. This was done through a vault that was led by Monetalis Clysdale.
Investors are also encouraged to look into this next cryptocurrency to explode. The Treasury bond and other deals are worth benefitting from. Look at eToro to see how to buy.
7. Immutable X (IMX)
Immutable X is the next cryptocurrency to explode and it is up on the charts by 4.69%. Currently selling at $0.7831, it has a market capitalization of $715,476,420. The asset’s trading volume over the last 24 hours is $20,778,585.
The Immutable X cryptocurrency, IMX, has been actively causing bulls and bears to clash in the market. A recent report speaks about Eon Rift joining the Immutable ecosystem. Eon Rift is a game project with its native token. Its founder expressed the platform’s decision to enter the partnership with Immutable X because of its strong commitment to giving priority to gamers and their interests.
The announcement from Leri Greer, Eon Rift’s founder, created a significant buzz among crypto traders. It resulted in Immutable X’s token, IMX, gaining 50% higher trading volume. Analysts are anticipating that IMX will soon hit the $1 threshold. They put the time to achieve this anytime in the third quarter of this year.
Fenix Games is another gaming company that has recently joined the Immutable X ecosystem. It was announced on Immutable X’s Twitter platform on Thursday. The announcement states that Immutable will make infrastructure available for those games as they plan to build in Web3. This will help to accelerate the speed of all players on the platform.
Welcome @playfenixgames to the Immutable ecosystem!
Industry vets from @EA & @Blizzard_Ent who raised $150M+ for web3 game publishing! Immutable will provide the infrastructure for these games aiming to build in web3 to accelerate the space for all players pic.twitter.com/sbMiArPst9
— Immutable – $IMX (@Immutable) June 1, 2023
Fenix Games has experience managing some first-grade gaming platforms and providers like Madden NFL Mobile, Need for Speed, and The Sims. It, therefore, aims to provide a roadmap for game developers planning to get into Web3.
Immutable said in its Twitter announcement that as Fenix continues to onboard games into Web3, it will keep leveraging its tech stack. This will help Immutable make their transition as smooth as possible. In the same way, Fenix co-founder and CBO, Rudy Koch, said Immutable is the industry’s bench Web3 service provider. He praised Immutable’s end-to-end and scalable Web3 solutions for gamers.
As the next cryptocurrency to explode, investors with high interests in the gaming industry would like to jump on the IMX ship. It can be looked up and bought on eToro.
8. Injective (INJ)
The native cryptocurrency of the Injective network, INJ, began a bullish move last week. Due to that reality, investors who have held the asset for a long time began to gain control again. This further pushed the coin’s price ahead till it got as high as 10% today while the morning session was on. This exceptional performance set INJ as the top gainer for the day.
The Injective (INJ) token is an open, interoperable blockchain that is optimized for decentralized finance applications. Injective is enabled for smart contracts and it utilizes a Tendermint proof-of-stake consensus mechanism. Its native token, INJ, enables Injective community members to take part in validation, governance, burn auctions, and lots more.
The INJ token showed bullish signals for the last 3 weeks. It eventually culminated in a 30% gain from that time till now. The token has also risen by as much as 27.8% in the last 7 days according to reports from CoinMarketCap. This significant increase is owed to 2 major factors that served as catalysts to the token.
The 100th $INJ burn auction will happen in less than a week!
Ultrasound Injective 🔥
— Injective 🥷 (@Injective_) June 2, 2023
Injective made an announcement on the 31st of May about a significant update concerning its Polygon Labs integration. The integration opened new opportunities for true decentralized finance composability. It will permit native assets from Injective and Polygon to be used across many blockchains within their ecosystems.
The collaboration was a significant milestone since it enables simple interoperability and enhances flexibility while using the assets in the 2 connected ecosystems. Injective also announced the completion of its mainnet upgrade, The Avalon. The upgrade brings Injective’s most highly performing infrastructure up to this moment. It aims to improve the platform’s overall UX and capabilities.
Buyers have now re-emerged in the market as bulls are taking control after the latest rebound over the ascending trend line. This led directly to the breakthrough of every obstacle to the bull run. It currently trades at $8.04.
The asset’s value has increased further in the last 24 hours. Bulls are making every effort they can to keep INJ’s price above every available moving average. The 50-day simple moving average is the token’s critical level of support and an important buying zone.
Further to that, the relative strength index indicator is revealing a gradual increase in the direction of the overbought zone. The overbought zone is presently at 62. All these indicators reveal favorable conditions and why investors should put more funds into INJ. It is also for these reasons that INJ is really the next cryptocurrency to explode.
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