Next Cryptocurrency to Explode Monday 16 October - Meme Kombat, Loom Network, Trust Wallet Token

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The global crypto market turned its fortunes around and substantially increased its overall market capitalization. It soared to $1.08 trillion, gaining 2.58% in the last 24 hours. The next cryptocurrency to explode has waded through the storm considerably.

The market’s trading volume over the last 24 hours also saw a significant boost, rising to $22.18 billion. This remarkable increase signifies a whopping 56.36% daily growth in trading activities. Decentralized finance continues to play a crucial role. Presently, the total trading volume in DeFi stands at $2.38 billion, making up 10.74% of the crypto market’s 24-hour trading volume.

Stablecoins, on the other hand, raised a total trading volume of $19.43 billion in the past 24 hours. This remarkable figure accounts for a substantial 87.57% of the entire 24-hour trading volume within the crypto market.

Meanwhile, concerns regarding the growing violence in Gaza and its potential to extend beyond Israel and Hamas are sending shockwaves through financial markets. Crude oil managed to stay above the $90 per barrel mark, while equities experienced a decline. The safe-haven US dollar exhibited firmness as investors grappled with the escalating conflict.

After surging by 5.7% on Friday, Brent crude futures reached a recent high of $91.20 on Monday.

Next Cryptocurrency to Explode

Across Asian markets, the impact of the escalating tensions was also felt. Japan’s Nikkei share average (.N225) recorded a substantial drop of up to 2%, while Hong Kong’s Hang Seng (.HSI) slid by 0.43%, and mainland blue chips (.CSI300) experienced a decline of 0.69%. Australia’s S&P/ASX 200 index (.AXJO) also lost 0.35%, while New Zealand’s equity benchmark (.NZ50) saw a decline of approximately 1%.

1. Loom Network (LOOM)

Loom Network’s native token, LOOM, has taken center stage, capturing the attention of eager investors as the crypto market’s top gainer. With a remarkable increase in trading volume, soaring from approximately $200 million to over a billion dollars, it’s clear that a substantial influx of buyers has propelled this growth. This surge in interest has been a driving force behind the token’s explosive expansion and why it is the next cryptocurrency to explode.

The recent announcement of Loom Network’s partnership with Atlassian created significant waves across the market. The partnership, which involves Atlassian acquiring LOOM for a staggering $975 million, has left investors optimistic about the token’s future. This development has catapulted LOOM’s price by over 1000% in the last 30 days, elevating its market capitalization from below $50 million to over a billion dollars.

It’s crucial to note that LOOM has entered an impressive bullish run that shows no immediate signs of cooling down. The long-term outlook remains heavily influenced by bullish sentiment, with a distinct lower support offering limited opportunities for a retracement to lower levels. Significant bearish events would be required to drive prices down to such depths, while intermediate pullbacks might be more likely.

It has come to our attention that there's some confusion about the LOOM token supply across the Ethereum and BSC networks.

The LOOM token has a total supply of 1.3 billion, ~1 billion tokens are in active circulation on Ethereum, ~130 million are in active circulation on BSC.

— Loom Network (@loomnetwork) October 13, 2023

From a technical standpoint, the substantial rise in market capitalization has significantly fortified LOOM, likely keeping the bulls active for some time. However, the recent rejection from the $0.5 level signals increased bearish interest in capitalizing on profits. As LOOM currently hovers near these levels, the potential for multiple rejections could test the bullish trend’s resilience.

These rejections may evolve into a corrective phase if the bulls show weakness. However, given the prevailing market sentiment, this outcome seems less probable. LOOM is poised to reach the $1 mark before the close of the year, reflecting the general optimism among cryptocurrency investors.

2. Meme Kombat (MK)

Meme Kombat (MK) is emerging as a top contender in the world of meme coins, earning the admiration of crypto experts. Hence becoming the next cryptocurrency to explode. It embodies a unique blend of meme culture, Play2Earn features, and GambleFi elements, positioning itself as a leading next-generation meme coin. The initial coin offering (ICO) has already garnered over $500,000 in funding, a promising sign of early enthusiasm.

Rise and grind memers. Kombat waits for no one 🫡⚔️

Let's get it this Monday! pic.twitter.com/ceg0zKnsh4

— Meme Kombat (@Meme_Kombat) October 16, 2023

At the heart of Meme Kombat’s innovation lies its concept: a gaming platform that seamlessly combines staking, betting, and rewards, all set within a thrilling meme-inspired battle arena.

Meme Kombat’s tokenomics are strategically designed to foster active engagement within the ecosystem while upholding stability. A substantial 50% of the total token supply is offered during the presale, laying a robust foundation for the project by involving early adopters.

An additional 30% of Meme Kombat tokens are set aside for staking rewards and battle prizes. This allocation serves as an enticing incentive for users, ensuring the platform’s vibrancy by compensating for active participation.

To encourage trading and liquidity, 10% of the token supply is paired with decentralized exchange liquidity pools. These strategic partnerships expand the accessibility and exposure of Meme Kombat tokens, offering stability and facilitating token trading.

The remaining 10% of tokens are earmarked for community initiatives, AirDrops, and other means of rewarding users, reflecting the project’s commitment to nurturing and expanding its community.

Notably, the Meme Kombat team recently adjusted the tokenomics, increasing the total supply to 120 million MK tokens. This modification bolsters the available supply for investors during the ongoing presale event.

In addition to its solid foundation, market analysts are already recognizing the immense potential of Meme Kombat. Renowned crypto influencer Jacob Bury has hailed it as the next potential 100x meme coin, underlining the appeal of the 112% staking APY. Bury’s endorsement is significant, given his earlier support for Wall Street Memes, which experienced a threefold increase after launch.

Visit Meme Kombat.

3. Trust Wallet Token (TWT)

The past week has seen an 11.91% increase in the price of Trust Wallet Token (TWT), with a 4.34% rise over the last 24 hours. However, the price dipped by 0.50% in the past hour, bringing the current value to $1.11 per TWT. Notably, Trust Wallet Token remains 59.09% below its all-time high of $2.72. Nevertheless, with its stellar performance, TWT is set to stay at the top of the market and be the next cryptocurrency to explode for a while.

With a circulating supply of 416.65 million TWT, Trust Wallet Token is an integral component of Trust Wallet, a cryptocurrency wallet that offers a range of features. This wallet empowers its 25+ million users to send, receive, securely store digital assets, and collect NFTs. Trust Wallet also provides a dedicated crypto card to facilitate instant exchanges while maintaining privacy and security.

The platform’s commitment to user safety extends to guarding against hackers and scammers. Users of the wallet can earn yields on the crypto assets they hold. Moreover, the platform enables real-time digital asset exchanges without the hassle of form submissions or photo uploads. Trust Wallet prioritizes user privacy by not collecting personal data, ensuring a high level of confidentiality.

At #TrustWallet, our goal is to empower you to control your own financial freedom, securely & effortlessly throughout the #Web3 world.

Some things have changed, but our core values remain the same 💙💚

#FreedomFoundations pic.twitter.com/q5MCtCGW35

— Trust Wallet (@TrustWallet) October 13, 2023

Beyond its primary functions, Trust Wallet serves as a gateway to decentralized applications (DApps), allowing users to access DApps without leaving the wallet interface. Additionally, the wallet offers staking options for crypto assets like BNB, TRX, XTZ, ATOM, LUNA, VET, ALGO, and more, providing users with an alternative income source. Staking also enables users to engage in network governance through decentralized voting.

Furthermore, TWT tokens collect transaction fees for activities like payments and accessing various DApps, further contributing to the ecosystem’s functionality and utility. Trust Wallet continues to be a robust and dynamic platform, offering a comprehensive suite of services to its vast user base.

4. MultiversX (EGLD)

Over the last seven days, MultiversX has experienced a steady 3.57% increase in its price, with a notable 6.02% surge within the previous 24 hours. Even in the past hour, the price continued to gain, growing by 0.26%. Presently, MultiversX is valued at $25.22 per EGLD, although it remains 95.35% below its all-time high of $542.58.

The circulating supply of MultiversX currently stands at 2.09 million EGLD tokens. MultiversX is a highly scalable, secure, and decentralized blockchain network designed to unlock new possibilities for users, businesses, and society, particularly in the emerging metaverse arena.

The tech world gathers between 19-21 October at the Palace of Parliament, Bucharest.

United around making real progress.https://t.co/4wys0sFSwO https://t.co/F9QCoOUi5r

— MultiversX (@MultiversX) October 13, 2023

Central to the MultiversX Network is the EGLD Token, which serves as its native cryptocurrency. This versatile token plays a vital role in underpinning core network functions such as staking, governance, transactions, smart contracts, and the rewards for validators. MultiversX seeks to empower innovation and shape the future of decentralized applications and the metaverse frontier through its robust ecosystem and EGLD token utility in a rapidly evolving landscape.