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Next Cryptocurrency to Explode Monday 13 November – Bitcoin Minetrix, Klaytn, Optimism

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Klaytn KLAY
Klaytn KLAY

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The global market capitalization has reached $1.41 trillion, experiencing a slight 0.27% decrease in the last 24 hours. The market has more promise despite the slight decline.

Over the past 24 hours, the total crypto market volume has been $48.29 billion, marking a 6.90% decrease. Within the decentralized finance sector, the volume is currently $7.74 billion, constituting 16.03% of the total crypto market’s 24-hour volume. Stablecoins contribute significantly, with a total volume of $41.94 billion, representing 86.84% of the entire crypto market’s 24-hour volume.

Bitcoin’s dominance in the market stands at 51.17%, reflecting a marginal decrease of 0.11% over the day. The new week is expected to open a floodgate of advances in the market as traders watch out for the next cryptocurrency to explode.

 coin360 crypto heatmap

On the fiat currency front, a rise in U.S. Treasury yields on Monday contributed to the Dollar reaching a new one-year high against the Japanese Yen while dampening an initial equity rally led by the tech sector.

The benchmark 10-year Treasury yields surged to a one-week high of 4.668%. It tested the upper limit of its range since weak non-farm payroll figures at the beginning of the month fueled expectations for earlier Federal Reserve rate adjustments.

The U.S. Dollar gained ground against the Yen, reaching 151.78 for the first time since mid-October of 2022, although it remained stable against the Euro and Sterling.

Japan’s tech-focused Nikkei (.N225) relinquished early gains of over 1%, concluding the day nearly unchanged.

Next Cryptocurrency To Explode

Despite a 1.2% decline in the property shares index (.HSMPI), the tech sector (.HSTECH) continued to outperform, aiding Hong Kong’s Hang Seng (.HSI) in maintaining its stability. Mainland Chinese blue chips (.CSI300) experienced a marginal slip of 0.24%.

U.S. equity futures also indicated a 0.44% decrease following Friday’s 1.56% surge in the S&P 500 (.SPX).

1. Klaytn (KLAY)

At the time of this report, the price of Klaytn (KLAY) is $0.177872, reflecting a notable 19.76% increase in the last 24 hours and a robust 25.51% surge over the past seven days. With a circulating supply of 3.2 billion KLAY tokens, Klaytn currently boasts a market cap of $567.13 million.

KLAY price chart

Exploring its historical performance, Klaytn’s all-time high occurred on March 30, 2021, at $4.34, marking a significant contrast as the current price is approximately 95.95% lower than this peak. On the flip side, the all-time low for Klaytn was recorded on April 29, 2020, at $0.060440, showcasing an impressive 190.83% increase from that point.

In terms of recent performance compared to its peers, Klaytn has outshone the global cryptocurrency market with a 25.30% surge in the last seven days, surpassing the market’s 5.20% increase. Additionally, when benchmarked against similar Layer 1 (L1) cryptocurrencies, Klaytn has demonstrated superior performance, outpacing the 6.40% rise in this category.

Regarding market sentiment, the community sentiment for Klaytn today is predominantly bullish. More than 84% of users expressed positive feelings about it as the next cryptocurrency to explode.

2. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix introduces a groundbreaking cryptocurrency concept, allowing users to engage in Bitcoin mining by staking BTCMTX tokens on its Ethereum-based platform. Building on Ethereum is one of the most lucrative ventures for crypto developers. It is also one of the guarantees that their projects will moon and become the next cryptocurrency to explode.

Currently, amid a presale, the project has garnered more than $3.9 million in six weeks, highlighting its innovative use case and substantial community interest.

In essence, Bitcoin Minetrix revolutionizes and decentralizes Bitcoin mining, breaking down barriers and making it accessible to a broader audience. Historically, the complexities of expensive hardware, technical knowledge, and overhead costs rendered Bitcoin mining unattainable for the average crypto user. However, Bitcoin Minetrix’s cloud mining solution aims for mass adoption, requiring users to possess an Ethereum-compatible wallet (such as MetaMask) and BTCMTX tokens.

Users initiate their mining journey by staking BTCMTX, earning Bitcoin mining credits in return. The platform can use these credits to acquire cloud mining power, generating free Bitcoin.

Beyond simplifying Bitcoin mining, the decentralized nature of the BTCMTX token mitigates the risks associated with cloud mining scams, a prevalent concern in the industry.

Anticipated to gain significant traction post-IEO, Bitcoin Minetrix is currently available at a discounted presale rate, starting at $0.0115. However, prospective buyers should act swiftly, as the price will incrementally rise throughout the presale period.

Visit Bitcoin Minetrix.

3. Optimism (OP)

Optimism has also seen a surge in accumulation by the digital asset firm Amber Group. The development has contributed to a bullish outlook for the token. Over the past 30 days, the token’s on-chain metrics have supported a significant % price increase of 50%, resulting in gains for holders of the Layer 2 token.

Both institutional investors and traders have observed the accumulation of the Layer 2 token. According to data from on-chain tracker Data Nerd, an address associated with the Amber Group withdrew 2.84 million OP tokens from Binance. Within the last three days, the Amber Group has amassed a total of 5.37 million OP tokens, valued at $9.37 million.

OP price chart

Removing OP tokens from crypto exchanges is considered a bullish signal, as it alleviates selling pressure on Optimism. The on-chain metrics of the Layer 2 blockchain token further reinforce a positive outlook for the OP price.

Traders in three segments—1,000 to 10,000, 10,000 to 100,000, and 1 million to 10 million—have added OP to their holdings, as indicated in the chart. This accumulation by various tiers of OP token holders contributes to the sustained gains in the token’s price.

Over the past three months, OP’s trade volume has consistently risen, nearly doubling since August, according to data from crypto intelligence tracker Santiment. Starting from 128.84 million in August and reaching 259.48 million early on November 13, the trade volume has experienced a twofold increase.

Data from DeFiLlama reveals a 16.81% increase in the total value locked in optimism between November 1 and 13, underscoring the growing demand for and relevance of the token among market participants.

As of the latest update, the OP price is $1.88, reflecting a 9.92% daily gain. The token’s weekly gains of nearly 23% are sustainable as it aims to be the next cryptocurrency to explode.

4. 0x Protocol (ZRX)

0x Protocol’s value experienced a notable surge of approximately 13.80% in the last 24 hours and an impressive 126.37% over the past week, reaching a yearly high of $0.59 as of the latest update.

ZRX price chart

Santiment attributed the remarkable price rally of ZRX to increased whale transactions. According to the firm, transactions involving crypto tokens by whales have reached an 18-month high, and older coins are being returned to circulation.

Hyblock, a crypto trading platform, also supports this analysis, highlighting that ZRX was among the three tickers witnessing a rapid accumulation of long positions by whales relative to retail investors.

0x Protocol, the decentralized exchange infrastructure protocol, enables users to trade ERC20 tokens and various digital assets across blockchain networks, including Ethereum. It operates without centralized intermediaries and is powered by the ZRX token. ZRX holders actively participate in governance activities and gain access to the project’s communal treasury. According to CoinMarketCap, the protocol has facilitated over $200 billion in trading volume since its inception.

In April, the developers of 0x Protocol, 0x Labs, announced the transition of the project’s governance to the community, aiming to foster its growth and development. According to them, it is a necessary boost to make ZRX the next cryptocurrency to explode.

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