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The crypto market has hit yet another decline in the last 24 hours. Its market capitalization is currently $1.05 trillion which is a 0.55% drop from yesterday as reported in our last next cryptocurrency to explode post.
The entire crypto market saw a total market deal worth $26.66 billion in the last 24 hours. This amounts to a 34.06% drop from what the market recorded the previous day. In the same period, decentralized finance had a total trade volume of $1.89 billion being 7.08% of the entire crypto market’s volume. Stablecoins, on the other hand, secured $24.95 billion in trade volume to register 93.59% of the entire crypto market’s volume in 24 hours.
However, Bitcoin was able to top its crypto market dominance by 0.17%. The king coin’s market dominance is now 47.78%.
Stocks in Asia are currently meandering ahead of central bank meetings. Interest rate increase and how to salvage various currencies amid global inflation is dominant. Whereas, the US inflation has further cut down purchasing power.
Crypto investors have been wondering what the effect of the US Securities and Exchange Commission’s lawsuit against Binance.US and Coinbase would be. The main concern is whether it is an existential threat to those firms.
A legal expert, Alan Kluegel, said the new lawsuits might threaten the existence of both Binance.US and Coinbase. This is despite the fact that the allegations against them are not criminal cases but civil. Kluegel said the lawsuits are rather life-and-death situations for the firms. This is because the Commission has the authority in the US to either shut down trading exchanges or reverse their sales.
However, there is a possibility that the Securities and Exchange Commission is fighting a lost course. This comes in light of the Commission’s ongoing legal tussle with Ripple. As the case draws to a close with the likelihood of ending in Ripple’s favor, it will resonate across the market and also be a guide in the new cases.
The Next Cryptocurrency To Explode
Cryptocurrencies have struggled under the combined weight of the SEC’s crackdown and the global financial crisis. While crypto is normally a means for investors to create a hedge against inflation, their purchasing power has been badly damaged.
It’s a new week and it’s expected that the market will have a fresh resurgence. The SEC effect should wane as the days go by. Howbeit, there are crypto assets doing well and others that simply give investors an opportunity to buy their dip and acquire more assets at this time. They form the basis for our next cryptocurrency to explode today.
1. Launchpad XYZ (LPX)
Despite the ongoing market downtime, Launchpad XYZ shows beyond a doubt that it is the next cryptocurrency to explode. The project has raised close to a million dollars so far and it keeps going harder.
As a project based on the Ethereum network, it has an ambitious aim of being the hub where everything about Web3 can be gotten for all users. The platform provides services and features that are targeted at Web3. This ensures that everybody has access to the best projects on the blockchain.
The project’s whitepaper shows that Launchpad XYZ will feature an experience library in the metaverse, a fast trading terminal, lots of P-2-E games, as well as an NFT decentralized exchange. Furthermore, the platform is going to feature a fractionalized marketplace where users can buy various actual and physical items such as artworks, real estate, and cars.
Launchpad XYZ has its core in its native cryptocurrency, LPX. The token s required from users who wish to trade or pay for NFTs and other items. Also, they can stake their tokens to get rewarded with several benefits like access to the latest NFT whitelists and purchase discounts.
The project has caused a lot of stir and excitement among investors. Investors who haven’t secured their share of the asset can do so before the presale closes and the official launch begins. It currently goes for $0.0445, a 26% decrease from the planned listing price.
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2. AiDoge (AI)
The next cryptocurrency to explode, AiDoge continues with its goal of providing an artificial intelligence-driven platform that generates memes for users based on their descriptions. The platform is making sure to maintain a simple-to-use meme generation process with the power of artificial intelligence, text-based alerts, as well as a native currency used to buy platform credit.
https://twitter.com/aidogecrypto/status/1668188083928576001?s=20
The presale is now sold out and the official launch is scheduled for the 19th of June. The platform has a number of functions and features that provide a smooth user experience for users and they can by that means perform tasks easily.
First, it features users’ public walls where individuals can share and see each other’s artificial intelligence-generated memes. The users’ wall is dynamic such that it shows a place for sorting and filtering memes based on their recency, themes, and popularity.
AiDoge users also have the chance to interact with the community when they participate in discussions and vote on memes. The voting system lets users vote on any meme created by other platform users by voting them either up or down. This will influence the position of the memes on their public wall. Memes with high votes get more visibility on AiDoge’s platform generally.
The platform goes ahead to reward memes and participation in votes with its AI tokens. Memes with high votes are picked out every month and their winners get rewarded with AI tokens. The reward system is a means of encouraging content creation while contributing to the AiDoge community’s growth.
The platform’s native token, AI, has two major functions as of now. As AiDoge’s primary means of exchange, it is used to purchase credits which, in turn, are used to generate memes. Secondly, they can be staked so holders will get rewarded with credit and other benefits every day.
Importantly, the tokens are used to get voting right and used to reward members who vote.
Investors now look forward to the launch to buy more AI tokens and increase their stakes. Follow up on the launch of the project website, AiDoge.
3. yPredict (YPRED)
Investors are now looking hard to leverage every new technology to gain an advantage when they trade. yPredict, the next cryptocurrency to explode, is going to revolutionalize the crypto market with its artificial intelligence power. Investors and the retail market are set to do things entirely differently with yPredict coming into the mix.
The platform is currently in its 6th presale stage with 6 days to the end. It has also raised more than $2 million selling at $0.09.
yPredict harnesses machine learning algorithms that help traders to identify certain in crypto trading when they come up. With that, traders will be able to predict crypto market trends and they will receive signals in real-time that will give clear directions. This will give traders an opportunity to be proactive while making informed trading decisions.
📣 Exciting news! Introducing #YPredict, the revolutionary AI marketplace! 🌐🤖
🔬🚀 With a vision for a complete AI ecosystem, the YPredict team is powering multiple AI projects under one roof. From machine learning to natural language processing, computer vision to deep… pic.twitter.com/vm6n5ln05Q
— yPredict.ai (@yPredict_ai) June 10, 2023
It also has artificial intelligence that offers pattern recognition and important insights. This offers traders an important advantage when the market hits its periodic volatility. The presale is a rare opportunity for investors to latch on to the token quickly.
Investors get access to exclusive features and they earn back 10% of the charges they pay. This builds a healthy and sustainable investment environment around the next big cryptocurrency to explode.
Investors who want to join the artificial intelligence revolution have an opportunity to invest in YPRED now to transform their trading in the future.
4. Synthetix (SNX)
Synthetix is the next cryptocurrency to explode and we want to tell you why. Amid the market instability, Synthetic has managed to be one of the top gainers in the market and it is still attracting investors. It’s selling up by 4.11% at $1.83 today.
The platform is a decentralized protocol for asset insurance. It also lets users mint, hold, and also trade a lot of derivatives such as cryptocurrencies, fiat currencies, stocks, as well as commodities.
The protocol has synthetic assets called Synths and they are collateralized via the native token of the network, SNX. It helps to drive liquidity and value to the underlying asset. It equally offers an increased level of access to traditional assets, as well as new strategies.
There are equally binary options which is a way to buy using a yes or no response that has been pre-defined within a time. The ecosystem goes as far as rewarding traders. It does this by providing capital to them to access various components of Synthetix’s ecosystem.
The Synthetix Foundation governed Synthetix in its original state. It was a non-profit organization based in Australia. But the platform’s control was handed over to three DAOs in 2020.
Synthetic gives users exposure to a range of crypto and non-crypto commodities in a decentralized way while it enables participation. This makes Synthetix the next big cryptocurrency to explode as investors will be able to get yield beyond cryptocurrencies.
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5. Cardano (ADA)
The next cryptocurrency to explode now is Cardano. It is one of the leading cryptocurrencies in the market and it has a lot of prospects for investors. Currently, up by 5.74% and selling at $0.2815, Cardano holds more promise in the midst of the market downturn.
The network’s native token, ADA, is one of the tokens listed by the US SEC as unlawfully sold as security by Binance.US and Coinbase.
Other coin issuers like the Solana Foundation and Polygon have joined forces with Cardano in refuting the position of the SEC against their tokens’ status. Solana took the first step by challenging the SEC right after Cardano.
Cardano’s governing body, Input Output Global, made a declaration after the SEC made its announcement. Cardano made it clear that its ADA native token does not meet the criteria of security as set by US law. The reignited discussion has the potential of reverberating through the crypto landscape. The renewed discussion goes around regulatory oversight of digital assets and the clear classification of assets.
While the Solana Foundation challenged the SEC, it also called for a constructive discussion among all interested parties and regulators. Importantly, the foundation says it seeks to strengthen transparency. It also seeks to establish regulatory frameworks that accommodate the rapid evolution of the digital assets ecosystem.
The platforms that responded to the SEC emphasized that they need to build a strong community. This will support developers who are at the forefront of driving decentralized technology for the future.
The renewed commitment to strengthening the position of Cardano’s native token, ADA, puts it on a pedestal to scale higher quickly. Investors also need to back the network up to ensure the stability of the asset.
As a market leader, ADA is well-positioned to 10x its current value in a couple of months. Investors should visit eToro to buy their ADA stakes as it is the next big cryptocurrency to explode.
6. Zcash (ZEC)
Zcash is up today by 2.94% and trading at $24.72. It is the next cryptocurrency to explode as it became one of the to-go cryptocurrencies for investors while the market is down. The platform is one of the most popular privacy coins in the market. It focuses on delivering private and anonymous features to users who require them and consider them important to their transactions.
Zcash’s native cryptocurrency, ZEC, works as the platform’s simplest unit. It was started as a forked Bitcoin code base but the two platforms do not share anything else apart from that. The network’s creators wanted something more private and anonymous while they used advanced crypto technologies. Although Zcash transactions are recorded and remain on the blockchain, the currency lets its holders activate privacy protection so they could hide all sensitive information on their transactions. These include the amount on the transaction, the sender’s and receiver’s information.
The project was launched by a team of scientists and software engineers in 2016. Zcash developed and incorporated the shielded transaction system as a means of delivering on its privacy and security promise. With that, it became possible to preserve the privacy of every transaction and the personal details of users which would have otherwise been posted on the blockchain.
This was made possible by using the zk-SNARKS protocol to encrypt transactions. While that was done, Zcash can also determine which transaction details they want to share in the event that want to be compliant with regulations or for audit.
Further to its privacy and security features, the team also focuses on maintaining the native token’s fungibility. This is done when it makes every coin maintain its value relative to others in the network and does away with all forms of tampering. A means of making this possible is to disconnect those tokens from the origin of their use which makes them almost impossible to trace.
Following the launch, the project got a strong foothold in the market despite facing strong contemporaries like Monero. The hard fight that Zcash had been through shows how strongly it fights in the market and how its strength has grown over the years. This makes Zcash the next big cryptocurrency to explode.
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7. Algorand (ALGO)
Algorand is one of the blockchains that has been labeled as an Ethereum Killer. It has had its share of the rough patch in the market but it is kicking back up. The asset currently sells at $0.1115, up by 2.52% on the day.
The Algorand network hopes to solve the blockchain trilemma of scalability, decentralization, and security. There is usually a trade-off of one of them when two are executed.
The network promises to execute speed as fast as 1200 transactions every second. It also offers decentralized finance services, and people can also mint their NFTs on the platform. Its native token, ALGO, helps to secure the network and is also used to pay transaction charges. In addition, the token can be exchanged between holders on the platform.
The network uses Pure Proof of Stake to mint tokens and add blocks. People get chosen to add blocks randomly but preference are given to holders who hold more ALGO. it is followed by a vote where a winner is chosen and a committee gets to approve the created block.
The Algorand blockchain is primarily based on two real layers. The first supports complex smart contracts and building decentralized applications while the other supports simple smart contracts. The latter also supports simple computer programs, crypto tokens, and NFTs.
The network is open to investors who seek an alternative to Ethereum as it is a strong contender. It also solves the problems of scalability, security, and decentralization at a go.
With these in mind, investors are up for a great time and high returns as the days go by.
Visit eToro for access to buy the next cryptocurrency to explode, ALGO.
8. Maker (MKR)
Maker is one of the top gainers in the crypto market today. It is up by 2.44% and currently selling at $624.69. Importantly, its market capitalization is $611 million.
The network’s native token, MR, was one of the strong performers in the market over the weekend. It maintained its place in the green zone by about 1.3% and climbed to 2.44% on Monday. This is a clear attribute of the next cryptocurrency to explode.
The platform was launched in 2015 by a team of developers led by Rune Christensen. The network enables loans that are over-collateralized by locking Ethereum and then minting Dai which is pegged to the US dollar.
As a governance token, MKR gives its holders governance power and right in the protocol via its DAO, MakerDAO. The MKR token is generated by market demands for DAI and its supply of the token.
Maker is one of the largest decentralized applications built on Ethereum’s blockchain. It DAO is exclusively made of MKR holders and they have the exclusive right and power to direct the network. The holders stake their MKR so they can have voting rights over proposed changes to be implemented in the protocol. They can also ensure the transparency, stability, and efficiency of Dai.
Despite all the differences between the Maker network in comparison to others, holding MKR is quite like owning stocks in a regular company listed on the stock exchange. This comes in the sense that shareholders have an opinion when it comes to determining the direction and function of the company. The ecosystem holds the record of being one of the first decentralized finance projects to record significant success. This bears witness to the effectiveness of the decentralized system.
Maker’s protocol generates new Dai via smart contracts called Maker Vaults. The Maker smart contracts can also be created via a lot of web user interfaces and applications. These are essentially portals that give access to the network. Anytime a user wishes to get their collateralized tokens back from the smart contract, they have to pay back the borrowed Dai first. This is the Dai that was generated with the stability charges.
The MKR can equally be used as a means of governing the protocol. Proposals that users should vote on are in the form of smart contracts and they get deployed via any Ethereum wallet or address. MKR holders and the community can proceed to vote on any proposal they want to be passed. The Ethereum address that gets the most votes in MKR gets given the administrative right to make effect the change that has been proposed to the protocol.
The benefits the Maker Protocol offers MKR holds are beyond internal administration by inter-blockchain functionalities. Holders can purchase items and stake their MKR for rewards also.
Visit eToro to secure some MKR tokens today because it is the next big cryptocurrency to explode.
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