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Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has dropped below $65K, and Ethereum (ETH) is striving to stabilize above $3,500.
However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders 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 Pepe Unchained, a new Pepe-themed meme coin launched on its own Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Tellor (TRB)
Tellor Tributes (TRB) is the native token of the Tellor protocol, a decentralized oracle network that provides reliable data feeds for smart contracts. Reporters use TRB tokens as stakes when they submit accurate on-chain data, which is crucial for smart contracts to function correctly. TRB tokens motivate reporters to provide timely data, and users can tip tokens for quicker updates.
Moreover, TRB funds contracts that pay data reporters, removing the need for off-chain payment methods. This system creates a robust and efficient data reporting mechanism within the Tellor network.
Currently, TRB is trading at $109.88, showing an impressive increase of over 970,000% from its all-time low of $0.01001 on November 1, 2019. The token reached its highest value of $593.09 on December 31, 2023. The most popular exchange for buying and trading Tellor Tributes is Gate.io, with the most active trading pair being TRB/USDT.
Tellor is a decentralized oracle network enabling Ethereum smart contracts to access off-chain data securely. With the rise of DeFi and other blockchain-based applications, the need for dependable data oracles like Tellor is expected to increase, making TRB a valuable investment.
Make sure to check out "Data Points", a weekly series of Youtube Shorts we put out to keep you up to date with all things going on at Tellor. Brought to you by long time Tellor core team member @rayn_tellor!
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Our "Data Points" playlist… pic.twitter.com/9fRBZUYDWW
— Tellor (@WeAreTellor) June 13, 2024
Recently, TRB’s price surged by 22.49% in the past 24 hours. Over the past year, its price soared by 1087.70%, outperforming 96% of the top 100 cryptocurrencies. Tellor is trading 102.77% above its 200-day SMA of $53.52, indicating strong growth. However, the 14-day RSI stands at 72.72, suggesting an upcoming price correction.
In the last 30 days, Tellor experienced 16 green days, making up 53% of the period, with a volatility rate of 7.49%. Its market cap is $285.16 million, and it has a 24-hour trading volume of $109.32 million, reflecting high liquidity and significant investor interest.
2. Centrifuge (CRG)
For a token to be listed on Binance, the project must have strong fundamentals, which Centrifuge does. This project brings real-world assets into decentralized finance (DeFi), offering on-chain debt facilities and capital structure management. Centrifuge is one of the first protocols to put RWAs on-chain, allowing businesses to use crypto to finance assets like invoices and real estate loans.
The centrifuge has several advantages. It provides access to DeFi liquidity without depending on volatile cryptocurrencies and removes the need for intermediaries like banks. This enables borrowers to finance their tangible assets directly, adding a layer of security in the crypto world. Centrifuge’s token (CFG) price is $0.4608, and its market cap is $227.86 million.
Investors looking at Centrifuge’s performance will notice significant trends in its price. CFG stands out for its stability and potential, priced at $0.4608, with a remarkable increase of 155.84% over the past year.
The cryptocurrency is trading 18.68% above its 200-day SMA, suggesting it is neutral and may trade sideways, which has drawn the attention of investors. Despite having a volatility rate of 14.59%, CFG shows medium liquidity with a volume-to-market cap ratio of 0.0141. This indicates potential growth opportunities, though investors should be cautious.
3. Pepe Unchained (PEPU)
A new Pepe-themed meme coin called Pepe Unchained ($PEPU) has just launched on its own Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. As of now, Pepe Unchained has raised more than $245,000. Fans of meme coins are eager to invest because of the impressive staking rewards of over 20,000% APY. Additionally, $PEPU transactions are 100 times faster and cheaper than leading ERC-20 meme coin competitors.
There are just over three days left to buy $PEPU at the lowest presale price of $0.008 per token. This is the best time to invest before the presale advances to the next round and prices increase.
After the ICO, the potential listing of the token on exchanges could significantly increase its value. For those interested, investing now could be very advantageous. An initial investment of $100 would get you 12,500 $PEPU tokens.
Pepe Unchained is the first Pepe token to operate on its own Ethereum Layer 2 blockchain. Ethereum currently processes about 15 transactions per second (tps), which causes network congestion and high transaction fees. To address this issue, various Layer 2 protocols have been developed. These protocols independently process transactions on a side chain before adding them to the main Ethereum blockchain.
Pepe Unchained ($PEPU) is the first meme coin to leverage this technology, providing a more attractive value proposition than traditional meme coins. Transactions with $PEPU are much faster and cheaper due to the improved scalability, which reduces the load on the main chain. As a result, $PEPU stakers receive significantly higher rewards than those using Layer 1 meme coins. The project also includes a dedicated block explorer for viewing all transactions on Layer 2 and offers instant, low-cost bridging between Pepe Unchained and Ethereum’s Layer 1.
Visit the Pepe Unchained Presale
4. Curve DAO Token (CRV)
Curve is a decentralized exchange that focuses on trading stablecoins and uses an automated market maker (AMM) to handle liquidity. It has launched a decentralized autonomous organization (DAO) with CRV as its native token. This DAO, created with Ethereum-based Aragon, employs multiple smart contracts to manage the liquidity deposited by users effectively.
Curve stands out in the DeFi space because of its emphasis on stablecoin trading. The DAO and CRV tokens increase profitability by rewarding users based on how much liquidity they contribute and how long they keep it in the system. The rise in DeFi trading has solidified Curve’s importance, with AMMs providing substantial liquidity and user profits.
Curve appeals to DeFi enthusiasts who engage in yield farming and liquidity mining. It offers steady returns through stablecoins and generates revenue through small fees paid to liquidity providers.
CRV has surged to $0.359653, gaining an impressive 8.59% in the past 24 hours. It shows high liquidity with a volume-to-market cap ratio of 1.0273, a market cap of $436.82 million, and a 24-hour trading volume of $448.74 million. The 14-day RSI is 56.19, indicating neutral trading. CRV has had 13 positive days out of the last 30 (43%) and a 30-day volatility of 17%.
Although everyone panics, the Celsius fiasco is a good example of why DeFi is better than CeFi
— Curve Finance (@CurveFinance) June 13, 2022
However, CRV is trading 41.66% below its 200-day SMA of $0.613673. Over the past year, its price decreased by 49%, underperforming 98% of the top 100 crypto assets. Despite recent price drops and significant volatility, the token shows signs of recovery.
CRV has been attempting to rise from $0.2175 for the last three days after a prolonged decline on the daily chart. The coming weeks could show a more optimistic price trend. If buyer interest grows, the price might reach the resistance levels of $0.50 and $0.65. Conversely, if the price fails to sustain its gains, it could fall to the support levels of $0.21 and $0.10.
5. Flare (FLR)
Flare is an interoperability protocol focused on interchain communication. It allows dApp developers to easily access off-chain data from other blockchains and the wider web. It will enable them to use real-world data to create richer dApp experiences and new monetization models.
One of Flare’s main goals is to help blockchains overcome a significant limitation: their inability to interact with the real world. Blockchains are closed networks that have restricted their use primarily to financial services. Flare addresses this issue, expanding the utility of blockchains beyond just financial applications.
FLR is valued at $0.02602, reflecting a 2.08% increase over the past 24 hours. Its price has surged by 61.50% in the last year, outperforming 35% of the top 100 cryptocurrencies. Currently, it is trading 9.75% below the 200-day SMA of $0.028852. With a 14-day RSI of 50.48, the cryptocurrency is considered neutral and may continue to trade sideways.
Ready to try #FAssets minting? ☀️
The demo for FTestXRP minting & redemption is live on https://t.co/sHZPDoR3Ml.
This is just a taste of what's to come. The official FAssets dashboard with full features is on the way.
🪂 Participating in the demo dapp could get you included in… pic.twitter.com/PPVysywunu
— Flare ☀️ (@FlareNetworks) June 17, 2024
The project’s outlook is promising, with predictions indicating that FLR could reach $0.0619 by the end of the year. This optimistic projection is due to Flare’s interoperability features, low transaction costs, and growing ecosystem. By connecting various blockchain networks, Flare facilitates innovative decentralized finance (DeFi) applications and boosts the utility of digital assets.
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