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Next Cryptocurrency to Explode Monday 31 July – Chimpzee, Compound, Bitcoin Cash

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Bitcoin Cash BCH
Bitcoin Cash BCH

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The stock market has been quite unstable as the new week began. Traders are trying to digest comments from central bank executives over the weekend. An example is that of the European Central Bank’s President, Christine Lagarde. The President made it clear that the bank will raise rates again this year even if it does not raise it at its next meeting.

A comment from the US Federal Reserve was made by Neel Kashkari, the Minneapolis President. He said the inflation outlook is quite positive even though there is a possibility of slower economic growth and job losses. German and US Treasury bond yields rose, however.

In Japan, the Yen has dropped against the US dollar after the BOJ’s bond-purchase announcement. The BOJ initially sought to contain a selloff on Friday by allowing yields to rise beyond 0.5%. This is going to be another busy week for earnings.

Whereas, markets in Asia are looking to end the month on a positive note. The stimulus promise from China still gives hope to traders.

Yet, the crypto market is struggling to hit that bull phase. The Fear & Greed Index, according to CoinMarketCap, is at a neutral point of 52. It shows that investors may actually be indifferent and not have an appetite to trade crypto at this time. It reflects in the 0.09% gain of the market capitalization.

The Next Cryptocurrency To Explode

Inasmuch as the crypto market’s growth process is slow at this time, not sliding deeping into the red zone is indicative of a deliberate push. Individual assets are also gaining, howbeit, with a little margin. The speed of innovations and partnerships in the industry has really come in handy to bolster the position of different assets.

1. Chimpzee (CHMPZ)

The Chimpzee presale is in its 8th stage with only 4 days to go. It has raised more than $1 million and it’s still going hard. Importantly, the network announced via its Twitter handle that its airdrop system is now available. This sets it apart and in line to be the next cryptocurrency to explode.

Chimpzee’s arrival has already generated so much attention. It gives a chance to those looking to invest in early-stage tokens so they can get sufficient returns from their investments. It has become a global phenomenon to the excitement of investors and enthusiasts.

One of the incentives around Chimpzee is that early investors can receive a bonus of up to 100% while the presale is still on. The bonus structure alone sparked more interest than the utility itself.

The token has taken its time with the platform’s marketing strategy to reach its current level. It collaborates with ecological organizations to make sure they are able to carry out projects as it supports them financially.

This project is essentially disrupting the way people contribute to charitable activities. The first disruption is that they are able to earn while contributing. It is creating more awareness than ever before on issues of deforestation, animal preservation, climate change, and other important related issues. It offers financial aid to organizations in the ecosystem too.

The platform is leveraging web3 to introduce its innovations. Its users can have access to its marketplace, shop, NFTs, and P2E games. Because it has been able to perfectly fuse web3 with crypto bonuses, it is drawing a lot of attention from players in both spaces.

Currently selling at $0.000775, would-be investors are asked to hurry up before the next price increase.

Visit CHMPZ.

2. Compound (COMP)

Compound (COMP) is really doing its best in the face of the continued market crisis. This asset started the new week at the top of the gainers’ list. The COMP token has been on and off the leaderboard but it is one of the most consistent assets there. Once the general crypto market puts itself together, COMP is definitely the next cryptocurrency to explode.

The growth of this decentralized finance token has brought renewed interest in the DeFi space. Although other DeFi tokens are down in tandem with the general market atmosphere, COMP gives some hope.

Some analysts are of the opinion that COMP may be benefitting from the fall of other DeFi platforms like Curve DAO. Otherwise, it was supposed to be in the negative. That investors shifted their attention to the network testifies to what it really stands for. The growth it sees is definitely held down by a strong trading volume.

COMP_1D_graph_coinmarketcap

COMP has seen a trading volume exceeding $179 million in the last 24 hours. That signifies a 216.32% rise in its volumes.

The Compound developers’ ecosystem is growing exponentially. Like most other web3 ecosystems are doing, actually. This is pushed by the introduction of new services from the platform over the last few weeks.

One of those innovations is the CometWrapper. It was just deployed on both Mainnet WETH and Mainnet USDC. CometWrapper is a Compound V3 wrapper that will make the tokens static. It was built for the benefit of developers and Compound V3 integrators.

The point of launching the wrapper is so a better protocol can be achieved. It also gives credence to the projection that COMP may experience a price breakout in the future.

3. Bitcoin Cash (BCH)

Bitcoin Cash has been turning out impressive results for those who invested in it. Although it dropped from its $300 mark, it has remained a good investment. It also posted returns of about 200% in the first half of the year. This performance makes it the next cryptocurrency to explode too.

Its gain on Monday, however, puts investors in the position where they expect BCH to retest the $300 mark. They expect such growth, especially with the technical upgrades the network has seen. Developers now have a framework on it where they can build their decentralized applications.

BCH_1D_graph_coinmarketcap

Compared with Bitcoin, Bitcoin Cash offer users faster and more cost-efficient mean transaction than what obtains on Bitcoin. Thus, it becomes a viable alternative to Bitcoin. It is also a good means of settlement rather than just being a store of value.

Bitcoin Cash is a result of the hard work of Bitcoin developers and miners who were worried about its future. They disagree on some fundamentals and decided to try something new.

Thus, Bitcoin Cash has its own blockchain with some differentials. One of those different points is the adjustable level of Bitcoin Cash’s difficulty level. This helps to make sure that the blockchain survives. It also enhances the speed of transactions on the network.

Bitcoin Cash now has a higher block size of 8MB. This will help speed up its verification process.

4. Bitcoin SV (BSV)

As Bitcoin keeps falling and losing its position, it looks like attention is increasingly turning to its derivatives. BSV is actually one of the tokens taking center stage this Monday. The asset has gained by more than 11% already and it seems to be gunning for more.

Bitcoin SV was also on a downward trajectory like most of the crypto market. But it began to reverse its trends on Sunday. Slowly but surely, it gained a double-digit percentage within the last 2 hours before this report.

BSV_1D_graph_coinmarketcap

BSV, the native token, recorded a 10% rise for a brief moment on Sunday and sold at the $40 price level. This recent movement has made BSV the biggest gain in recent times among the top cryptocurrencies.

Being part of the top gainers on CoinMarketCap, it is not known how long this uptick can be sustained. It is, however, certain that most Bitcoin investors are desperately seeking alternatives. 

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