Next Cryptocurrency to Explode Monday 7 August - Chimpzee, Dash, Hedera

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Shares in Asia started cautiously on Monday following the US jobs report last week. The jobs report instigated a rally in the bond market after it had been downbeat. There are now, however, new obstacles ahead to be crossed. These are inflation reports from the US and China due to be released later in the week.

The US inflation report is expected to feature headline inflation rising just a tad bit to 3.3% per annum. But core rates are expected to fall to 4.7%. Goldman Sachs analysts expect that there will be a downside to the numbers. The major factor, for them, is the declining price of cars. The result may help to keep the ongoing bond rally solid.

In China, on the other hand, the stock market looks forward to more signs of deflation. The impetus comes from reports of annual consumption prices falling by about 0.5%. Producer prices have also fallen to 4%.

Not surprisingly, the crypto market sucked up the mood with some measure of struggle. The height of its weekend performance was reported in our last next cryptocurrency to explode post. But the market started Monday with a 0.19% loss of its market capitalization.

Inflation reports will influence how traders and investors relate to all markets eventually. But before they are released, some assets may be testing their initial positions in order to reclaim their lost gains. If that happens, then traders’ appetite for those assets may be sharpened, no matter how risky they are.

The Next Cryptocurrency To Explode

Trading volumes in the crypto market over the last 24 hours, however, rose by 12.27%. The value of the deals was finalized at $22.48 billion. This shows that despite the downbeat mood and lower inflow, funds in the market moved widely. Traders are also energetic to have moved such volumes within a day.

Interestingly, Bitcoin also increased its market dominance by 0.07%. Frankly, this may not be so much of Bitcoin rising but of the rest of the market falling behind.

1. Chimpanzee (CHMPZ)

The Chimpzee project is one of the most promising new projects in the web3 space. Still on its presale and now in the 9th stage, the project has raised over $1.1 million. The focus of this project and other promises it holds makes it an undisputable next cryptocurrency to explode.

The project announced that it was going to airdrop 10 million CHMPZ tokens to investors who invested in its presale. While apportioning the airdrop tokens on a first-come, first-served principle, investors who have more investment will receive airdrop rewards commensurate with their investments. Now that CHPMZ sells at $0.00085, the airdrop will be worth $8,500.

The airdrop has since commenced and at the time of this report, there are only 685,000 airdrop tokens left. The platform is also offering those who participate in the presale a hundred percent token bonus.

Those who want to be involved in this presale have to get moving now. The 9th stage ends in 11 days. This is the stage where CHPMZ holders can start to mint Chimpzee NFTs.

🎉 #Chimpzee is giving away 10,000,000 $CHMPZ tokens in an exclusive #Airdrop!🔥

Only 685,000 left! Act fast – first come, first served!⏳

Grab these extra tokens on top of your bonus. Incredible deals await: pic.twitter.com/4kBiUpzIxv

— Official Chimpzee Project (@RealChimpzee) August 7, 2023

The Chimpzee platform is one that brings users to support eco-friendly activities while they also earn passive income. The platform will equally feature a shop-to-earn store where various merchandise can be purchased. Furthermore, there is an NFT marketplace, as well as a P2E game it calls “Zero Tolerance.”

This project is living up to its name as it is focused on charity in the web3 ecosystem. It has been donating funds to other projects that are actively on the ground for environmental and conservation purposes. In addition to that, it has been planting trees in places like Brazil and Guatemala. Yet, there is a long list of organizations that it plans to donate to.

2. Dash (DASH)

The Dash network has grabbed the attention of all crypto enthusiasts since it began operation in the crypto space. The first quality that gave it this status is that it is a fork of the Bitcoin chain.

Dash has usually maintained high performance all these years. On top of that, it has gained remarkable price action in recent times. Investors interested in adding DASH to their portfolio are making the right choice at this time. Undoubtedly, it is the next cryptocurrency to explode.

The DASH token currently sells at $32.97 with $63.2 million in 24-hour trading volume. That places the token up by 5.29% according to CoinMarketCap. It also has a circulating market supply of over 11.3 million DASH tokens. We should not equally lose focus on the fact that DASH is currently about 98% down from its all-time high of $1,642.

DASH’s charts within a year show that it is gradually rising from its decline. But the price got to an oversold level just about a month ago. The price was stable there, however. The price is now getting to a trendline that may break. If that happens, it will trigger another price action that will push DASH toward $43. If that trendline continues, then the asset will see $60 and onward to $70 if the bullishness continues.

Based on its hourly chart, DASH is showing bullish momentum. It is trading above its 50 and 100-day simple moving averages. That signifies that there is positive momentum toward it in the market. The Moving Average Convergence Divergence equally confirms this rise.

With regard to all these indicators, there are signs that DASH’s price will keep rising in the short term. The first levels to reach are $36.46 and $39.44.

Recently, the 26-day EMA saw a bullish push beyond the 12-day EMA. This suggests that there is a further strengthening of the bullish rise. Once DASH rises above $33.85 and it has more buying pressure, the price will be heading further ahead.

3. Hedera (HBAR)

Hedera is another token that has been displaying a positive uptrend in recent times. The next cryptocurrency to explode owes this to its latest partnership. Apart from providing an alternative to blockchain technology, Hedera is also opening another phase.

The platform recently got linked with better digital solutions by entering a partnership with Mastercard. The partnership will enable users to have access to the Mastercard Payment Gateway Services. They will also be able to freely use other Hedera Foundation projects in the future. These include the platform’s web3 and other digital solutions.

The latest move is another step toward increasing Hedera’s utility and interoperability with other networks. It will open new methods to be more efficient, accessible, and valuable to individual and enterprise users. It will achieve this by bridging the gap between traditional financial systems and decentralized blockchain technology.

Now that Hedera is integrating with banking services, it is opening up the chances of smooth international settlement. It will guarantee safe payment systems and other financial services will spring up from it. It is a means of reinventing how value is exchanged and managed in the digital age. This is when the power of traditional banking is combined with the blockchain.

Another contributing factor to Hedera’s growth is its recent endorsement by the US Department of State. The Department honored the platform for its contribution to enhancing democracy through blockchain technology.

Hedera is scheduled to host a roundtable discussion on democracy. The event will have trade associations, businesses, academics, government representatives, and advocacy groups present. The focus of the discussion will be to examine how distributed ledger technology can be used to enhance transparency and aid civic rights.

At the time of this report, HBAR sells for $0.0562. Its market capitalization is over $1.8 billion.

4. Algorand (ALGO)

Algorand is the next cryptocurrency to explode as it also secured major developments which caused its price to rise. It made an announcement recently of significant network activation. The latest upgrade is designed to improve the performance, operation time, and user experience within the blockchain.

One of the most important developments seen in the upgrade is that there is reduced latency. It is now at 3.3 seconds. This makes it possible to have a close-to-instant block finality. It, then, brings faster transaction speed to users. The upgrade drives home Algorand’s commitment to delivering speed without stepping back on security and decentralization.

Furthermore, the upgrade also introduces another set of developer tools. The tools enhance testing, engineering, as well as research with the network. Algorand is working on fostering innovation while encouraging developers to build decentralized apps. It is, therefore, at the forefront of blockchain technology while beckoning investors.