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Bitcoin is not the only cryptocurrency with mind-blowing performance this quarter; several other tokens are poised to become the next cryptocurrencies to explode. Siacoin, Pixel, and Pyth network are projects making waves in the industry.
The recent performance of Pixel demonstrates the prospect of assets in the GameFi sector. Likewise, Pyth’s push for improved services in the on-chain-off-chain data access reveals a gap in the Oracle sector. The updates on their trend and performance are covered below.
Next Cryptocurrency To Explode
In the meantime, the crypto market recently witnessed established assets setting new ATH across the board. Nevertheless, new and upcoming Crypto projects are also making moves to establish an impressive reputation. An example is the Meme Kombat presale that’s set to go on exchanges in a few days. The community has demonstrated resilience, and the launch timing looks relatively perfect, coinciding with the ongoing bull run; details are provided later.
1. Siacoin (SC)
Siacoin recently crossed the billion-dollar market cap, putting it ahead of several established cryptocurrencies. The project is one of the major contenders with the popular blockchain-based storage system, Filecoin, fighting hard to overtake its market share. Its core value proposition is the storage services to blockchain projects through its distributed, decentralized cloud storage technology.
At its core, Siacoin’s trustless feature makes it a go-to platform for most crypto-based projects, which accounts for the rising value of its native token, SC. Moreover, the growing investor interest in decentralized infrastructure contributes to Siacoin’s improving performance.
Recently, SC, the native token of the project, recorded impressive price performance, boosting its value by nearly 65% in the last seven days. It also saw over 12% giants in the last 24 hours and an increase of over 10% in trading volume.
We just published the Grants Program update for January!https://t.co/rNeSk0LDCS
— Sia Foundation (@Sia__Foundation) February 9, 2024
Most of the token’s outstanding performance can be traced to its ingenious initiatives like the grant program, which recently released up to $100,000 to some participants. Also, the bullish trend in the crypto market favors assets in the physical infrastructure category.
There are speculations that the community may initiate more innovations that will likely spark more price rallies for the SC token. It’s still unclear what it might be. In the meantime, investors should add Siacoin to their watchlist of the next cryptocurrencies to explode.
2. Ethereum (ETH)
The value of the ETH token is on the rise ahead of two globally anticipated events, the Dencun upgrade and the spot ETF. While these events are projected to drive the value of Ethereum through the roof, the whale activities recorded in the network are already mounting pressure on its $3000 resistance level.
On different occasions in the last 30 days, ETH has made several attempts to break above the range. However, the pressure from the bears has forced the token to remain below the $3000 price. The general belief across the market is that the chart of ETH would likely follow BTC upon the approval of the ETF. Consequently, investors can expect a remarkable rally in ETH price towards the end of this quarter and for most of the coming quarter.
Meanwhile, the current price pullback presents an opportunity to buy the dip ahead of the upcoming events. The RSI on the daily chart is currently above the 72 range. The oversold pressure would continue to push the asset’s price towards the $2800 range. Hence, it’s an opportunity to establish a position on the lower side before ETH returns to an upward rally.
📣 The first ZK Grants Round is now open!
The Ethereum Foundation, in collaboration with Aztec, Polygon, Scroll, Taiko, and zkSync, contributed $150K each to the shared prize pool, totaling $900K.
Apply before March 18th! 👇https://t.co/u1lGRfc4CV
— Ethereum Foundation (@ethereum) February 21, 2024
Ethereum Foundation also maintains its drive towards putting the community in the spotlight. It recently called on the crypto community to apply for its ongoing grants until mid-March. The grant hopes to spark the ZK project development in the ecosystem.
3. Meme Kombat (MK)
Investors are highly interested in the Meme Kombat project due to the growing crypto GameFi trend. The growing commitment to the project is evident in the recently concluded presale offering that grossed millions of dollars in funds, with thousands of investors on the waiting list aspiring to earn their share of the explosive gains upon listing.
At the time of writing, aspiring investors only have 11 days to join the community before the Meme Kombat goes on exchange. Its price remains discounted at $0.279, and the presale page is still live to allow more investors to benefit from the offer.
Staking Numbers:
👉 40m+ $MK staked
👉 9m+ $MK rewards paid
👉 12,5k+ stakersAnd we're currently offering a 98% APY on staked $MK ⚔️ pic.twitter.com/SapVA3wA8U
— Meme Kombat (@Meme_Kombat) February 22, 2024
Meme Kombat differentiates itself from other GameFi projects by extending its gaming economics to include staking and wagering. Interestingly, MK holders don’t need to wait till the token goes live on exchanges before participating in the staking plan. It offers as high as 99% APY to stakers, and there are thousands of participants.
Overall, Meme Kombat has dual value for investors. It offers a fun gaming experience, and secondly, it offers a wealth-building experience through its GameFi features.
4. Pyth Network (PYTH)
The growing demand for blockchain interoperability technology creates the need for services of projects like the Pyth Network. It is currently referred to as the largest first-party Oracle network. It provides real-time data to dApps, and over 40+ blockchains now leverage its services.
Its growing influence in the oracle sector is reflected in its price, which has increased significantly since its launch in the last quarter of the previous year. As the demand for physical infrastructure increases, the demand for services of projects like the Pyth network would also rise. Being one of the biggest players in the niche gives Pyth an edge and positions it as one of the next cryptocurrencies to explode.
As of the time of writing, the project has seen over a 2% increase in price in the last 24 hours and about a 10% cumulative increase in the last seven days. The value increase will likely continue throughout the bull run as new projects join the DePIN sector daily.
#PythNetwork delivers real-time price data across major asset classes
Developers have permissionless access to over 400 price feeds across digital assets and cryptocurrencies, FX and ETFs, commodities, and equities.
Explore the latest blog post below: pic.twitter.com/5i2yFoTQCL
— Pyth Network 🔮 (@PythNetwork) February 21, 2024
Besides, the growing demand for ETFs, FX pairs, and commodities data across blockchains all leverage the features of Oracle services like Pyth. As the use of these platforms grows, it’ll increase the price of the underlying tokens of Oracle services, including PYTH.
5. Pixel (PIXEL)
Ronin took the spotlight recently after it recorded an exceptional price movement. However, another project in the Ronin ecosystem has taken center stage. After the PIXEL Binance listing news appeared online, many rushed to take a position as FOMO gripped most GameFi investors. As anticipated, the price of PIXEL shot up by over 30%, giving it a market cap of half a billion dollars.
Nevertheless, as the buzz around the PIXEL listing recedes, the asset’s value becomes apparent. At press time, the price of the PIXEL has recorded a pullback of about 6%, and its trading volume has also declined compared to what it recorded a few days back.
Recent data from its chart shows that PIXEL is grappling with a sideways trend as the pressure from the bulls and bears fails to settle for a direction. However, recent data reveals that PIXEL now has up to 350,000 users who’ve spent over 1.4 million PIXEL on the platform. The progress is remarkable, given that the game debuted on a less-known ecosystem.
Its trend mirrors what was seen in major games like Clash of Clans. It’s also trailing the Anxie infinity path. PIXEL investors may be some of the biggest winners in this bull run as the game shows trends indicating it might become one of the next cryptocurrencies to explode.
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