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Cryptocurrency prices have been fluctuating for a while, and the overall feeling in the market is bearish. Bitcoin (BTC) is struggling to get back to $60K and above, and Ethereum (ETH) is striving to stabilize at $2,500.
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 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. Toncoin (TON)
Toncoin (TON) recently surged over 7% after Telegram CEO Pavel Durov criticized France for its investigation into illicit activity following his arrest. As of 2:45 a.m. EST, TON was trading at $4.87, boosted by Durov’s comments.
According to IntoTheBlock data, Many Toncoin holders are currently facing losses. Only about 9% of holders are in profit, with most seeing negative returns. However, many wallets holding TON are less than a year old, suggesting a recent influx of investors. This bearish trend may be a temporary correction before the next big rally.
In August, Binance listed Toncoin, offering trading pairs like TON/BTC and TON/USDT. Following this announcement, TON’s price spiked by over 10%. Today, TON has risen 7% in the last 24 hours, with a 40.94% jump in daily trading volume, reaching $379.054 million.
Over 100 integrations are putting #USDt-TON in every pocket!
USDt on TON has achieved a major milestone, now available on over 100 platforms worldwide!
We're closer than ever to our goal of making USDt on #TON the most accessible stablecoin in the world 🗺️Learn more:… pic.twitter.com/fLcDG4LNAU
— TON 💎 (@ton_blockchain) September 6, 2024
Fundamental developments also fuel Toncoin’s rise. On August 14, the TON Foundation launched TON Ventures, a $40 million fund to support early-stage projects on the TON blockchain. This move is expected to attract more developers and projects to the network.
2. Super Zero Protocol (SERO)
SERO is a privacy protection platform for decentralized applications (DApps). It aims to be a next-generation privacy blockchain that supports smart contracts and enables the issuance of privacy coins and anonymous assets. The platform allows developers to issue privacy coins and use them within DApps.
Moreover, SERO claims to have built the world’s fastest zero-knowledge proof encryption library called “Super-ZK.” This library is reportedly over 20 times faster than the latest zk-SNARKs (Sapling upgrade) used by Zcash. Additionally, SERO states it is the first privacy coin protocol to support smart contracts using zero-knowledge proofs.
As of press time, SERO is priced at $0.877799, reflecting an 18.42% increase in the last 24 hours. Its daily trading volume has grown by 18.37%, reaching $1,367,247. This bullish trend suggests increasing optimism about an upward movement in price.
With strong fundamentals and backing from a dedicated crypto community, SERO has the potential to achieve significant growth in the future. If the project announces collaborations with other networks, its coin price could surpass previous highs by 2024. Furthermore, if the current bullish trend in the crypto market continues, we anticipate that the average cost of SERO could reach higher levels by 2025.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) has hit a major milestone, raising over $12 million in its presale. Early Wednesday, it stood at $11.85 million, but in less than 24 hours, an additional $150,000 pushed the total to the current amount.
Originally expected to reach $12 million by the end of the week, Pepe Unchained met this goal ahead of schedule. Whales played a key role, buying up large amounts of $PEPU during a market dip on Tuesday. The token is now priced at $0.0094982 and will increase to $0.0095362 as the presale progresses.
Boom! $12M raised!
Pepe Unchained is crushing milestones and gearing up for the next big leap 🐸💪 pic.twitter.com/Cr2MI0CESp
— Pepe Unchained (@pepe_unchained) September 5, 2024
Despite not being listed on exchanges, $PEPU is gaining attention as a more advanced version of Pepe ($PEPE). Meanwhile, around 40 million $PEPE, valued at approximately $293,000, was recently moved to the OKX exchange. This activity, reported by $PEPE Whale Alerts, raises concerns for smaller investors, though early $PEPE buyers still see profits.
One reason for the growing interest in $PEPU could be the 225% APY offered to those who stake their tokens early. Investors can buy $PEPU using ETH, USDT, BNB, or a bank card through a simple widget on the project’s website. To earn the high staking rewards, buyers must lock up their tokens via the staking page.
4. Sui (SUI)
SUI coin is still building its reputation compared to major cryptocurrencies. Despite this, it has shown positive momentum recently. SUI rose 2.55% in the past 24 hours, 3.85% over the past week, and 34.46% in the last month. If buying pressure continues, SUI could rise by another 7%, potentially breaking the $1.1 resistance level. If it crosses this, the price could jump to $1.2 and possibly $1.43.
Sui has minted nearly 35 million NFTs, marking significant activity in the NFT market. While not all are active, there are over 365,000 Sui NFT holders, placing Sui in competition with platforms like Solana in the NFT space.
⚡Sui speed is inevitable!
One️ month after the launch of #Mysticeti 🐳 on Mainnet, we’re excited to share that Sui recorded sub-second latency across different regions of the world, further validating Sui’s position as the fastest consensus on…the…planet! 💥 pic.twitter.com/USPyt4qWcX
— Sui (@SuiNetwork) September 5, 2024
Another key development is the launch of the Agora AUSD stablecoin on the Sui network. This U.S. dollar-pegged stablecoin adds more options for stablecoin users on blockchain platforms. Price predictions for SUI remain mixed. Analysts suggest it may not cross $2.50 by 2025 if bearish trends persist. However, if the market improves, SUI could exceed $4 by the end of next year.
5. Covalent X Token (CVX)
Covalent is a decentralized data network powered by node operators across 25 countries. It provides a modular infrastructure for accessing on-chain data through running nodes, pulling data directly, or querying the API. Covalent ensures long-term data availability with a decentralized and secure network, allowing developers to access historical and real-time data for Ethereum and other platforms.
Covalent’s CVX token is currently priced at $0.06941, reflecting a 10.5% surge in the last 24 hours. Its market cap has also increased by 10%, reaching $59.75 million, with a 2.4% rise in 24-hour trading volume. Over the past 30 days, CVX has seen 16 green days, indicating a bullish trend.
As Ethereum data grows, so does the need to access it anytime 💽
Wondering about Covalent's Ethereum Wayback Machine (EWM) and how it transforms data access?
Here are 4 things you should know ⤵️
— Covalent (@Covalent_HQ) August 30, 2024
Despite the Fear & Greed Index showing “Extreme Fear” at 23, sentiment around CVX remains positive. If the EOS project announces collaborations, CVX could see further growth. CVX may average around $0.5 if the market remains bullish by 2025. However, a market downturn could bring the value as low as $0.01 in 2024.
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