Next Cryptocurrency to Explode Monday 9 October - Bitcoin Minetrix, Lido DAO, Tether Gold

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The market is still going through a bearish path as it struggles to make a firm stand. It lost 0.23% of its market capitalization in the last 24 hours and is valued at $1.09 trillion. However, it’s not all gloom and doom as the total crypto market volume over the previous 24 hours has surged to $18.08 billion, representing a significant 15.37% increase. This level of activity reveals that it won’t take long for the next cryptocurrency to explode to take the stage.

Decentralized finance raised a total trading volume of $2.15 billion in the last 24 hours, constituting 11.89% of the overall crypto market volume during that period. Stablecoins, on the other hand, played an equally prominent role, boasting a total volume of $16.04 billion, which accounts for a substantial 88.75% of the entire crypto market’s 24-hour volume.

Bitcoin currently holds a 49.93% market share, reflecting a modest increase of 0.01% in the last 24 hours.

US stock futures declined as a result of the ongoing conflict in the Middle East, which led to notable increases in oil and Treasury prices. At the same time, the recent US jobs report for September heightened concerns about potential inflation figures expected later in the week.

Although trading conditions were thin due to holidays observed in Japan and South Korea, initial market sentiment favored bonds alongside the traditional safe havens of the Japanese Yen and gold. Oil prices also saw a significant surge, with an increase of over $3 per barrel.

Escalations in the Middle East were exemplified by Israel’s extensive military operation in the Gaza Strip on Sunday. It resulted in heavy casualties. This retaliation followed one of the deadliest attacks in Israel’s history, where the Islamist group Hamas killed 700 Israelis and abducted numerous others.

Next Cryptocurrency to Explode

The looming threat of supply disruptions contributed to Brent crude’s remarkable rise by $3.14, reaching $87.72/barrel, while US crude saw an increase of $3.28, to sell at $86.07/barrel.

In response to these geopolitical uncertainties, the demand for gold also surged, with the precious metal rising by 1.1% to $1,852/ounce.

1. Lido DAO (LDO)

The Lido Dao token (LDO) is one of those that attracted investors’ attention while coming into the new week. Its price is up by 2,67% as it trades at $1.62. It rose through the storm last week to take its deserving place as the next cryptocurrency to explode. Along with substantial trading activities, this comes as no surprise.

Over the past week, LDO traded in proximity to a descending trendline and hovered near the 50-day Exponential Moving Average (EMA), which indicated a neutral position on the charts. One of the intriguing developments was the emergence of a double bottom pattern, signaling a possible recovery towards the 100-day EMA, located around the $2.00 mark, which is about to materialize.

The current price action underscores the accumulation of buying interest and a growing traction among investors. However, if bulls were to make significant progress, they would need robust momentum to overcome the critical resistance at $2.00. In the event of aggressive buying, the price could rise towards $2.50, aligning with the upper trajectory.

Crucially, the Lido Dao token’s price is currently trading above the 20-day EMA and is undergoing a retest of the trendline. This reaffirms the presence of buying momentum and suggests fresh buying signals indicative of a reversal in the charts. Investors must stay committed to accumulating LDO tokens, especially in the face of broader market selling pressure.

Staking with Lido goes interchain 🪐

Lido’s wstETH can now be bridged to @cosmos via @neutron_org for use across a number of exciting Cosmos-based dApps.https://t.co/v6RDeKtDi0 pic.twitter.com/VX1RFRqskw

— Lido (@LidoFinance) September 29, 2023

LDO has managed to retain its gains around the mid-Bollinger Band and is making strides toward the immediate swing high at $2.50. The trading volume has also seen a modest increase of 7.67%, reaching $24.89 million in the last 24 hours. The market capitalization of LDO stands at $1.44 billion. Market analysts maintain a bullish stance for the LDO token while hailing it as the next cryptocurrency to explode.

2. Bitcoin Minetrix (BTCMTX)

Having recently surpassed the impressive milestone of $800,000, the Bitcoin Minetrix presale is showing no signs of slowing down. It simply continues its effort to be the next cryptocurrency to explode. The first-stage presale offers discounted prices for a limited duration, presenting a unique opportunity for potential investors.

Benefits for #BitcoinMinetrix End Users!

🔹 Zero technical know-how required
💲 No initial hardware costs
🤫 Enjoy a noise-free, heat-free experience#CryptoCommunity pic.twitter.com/tSfDUvpE98

— Bitcoinminetrix (@bitcoinminetrix) October 8, 2023

During this first stage, BTCMTX tokens are available at a price of $0.011, allowing individuals to enter the world of BTC mining solutions for just a few cents. What makes this offering particularly attractive is the token distribution, which heavily favors investors by placing a significant portion of the supply in their hands.

For instance, a substantial 70% of the total 4 billion token supply will be made available during the presale phases, providing investors with considerable influence over the project’s future growth trajectory. Additionally, 12.5% of the total supply has been earmarked for staking rewards, further enhancing the value proposition for potential participants.

As the presale progresses, there is the potential for the token’s price to increase to $0.0119, representing an impressive 8% uptick.

Participating in the presale is straightforward. Interested parties can visit the project’s website and acquire BTCMTX by exchanging ETH, BNB, or USDT. With a minimum investment requirement of just $10, investors also have the option to make purchases using a credit/debit card for added convenience.

The BTCMTX presale presents a compelling opportunity for those looking to become part of the BTC mining ecosystem while enjoying favorable token distribution terms.

Visit Bitcoin Minetrix.

3. Tether Gold (XAUt)

Tether Gold (XAUT) is also one of the cryptocurrencies that saw an increase today and is taking a front seat as the next cryptocurrency to explode. This new momentum is depicted in its price increase, currently sitting at $1,853.81. Over the past 24 hours, it has experienced a 1.36% price upturn, according to CoinMarketCap. This surge in value places Tether Gold at a market cap of $458.58 million, with a circulating supply of 250 thousand XAUT tokens.

In terms of trading volume, Tether Gold (XAUT) has witnessed substantial activity, totaling $4.77 million over the past 24 hours. This represents a noteworthy 10.80% increase from the previous day, indicating a recent surge in market participation.

For those curious about the historical performance of Tether Gold (XAUT), its all-time high price stands at $2,169.74, achieved on March 15, 2023, approximately seven months ago. Currently, the price is trading at -14.58% below this peak. On the other end of the spectrum, the all-time low for XAUT was $1,447.84, recorded on March 19, 2020, more than three years ago. The current price is 28.02% higher than this historical low point.

The fully diluted valuation (FDV) for Tether Gold (XAUT) also mirrors its market cap at $458.58 million. This figure represents the maximum potential market cap, assuming that all 250 thousand ETH tokens are in circulation.

From ancient civilisations, humans have used gold as money and a store of value. Since then, and especially in times when the overall macro market has been in distress, gold has been used as a hedge. Tether Gold XAUt is not just gold; it's gold, redefined for the modern world. pic.twitter.com/CqQxkDSHbM

— Tether Gold (@tethergold) October 5, 2023

In recent performance, Tether Gold (XAUT) has outpaced the broader global cryptocurrency market. With a 0.40% price increase in the last seven days, it surpasses the global market’s 0.10% growth. Additionally, when compared to similar Stablecoins cryptocurrencies, XAUT has shown superior performance, also outperforming with a 0.10% increase.

Overall, the market sentiment surrounding Tether Gold (XAUT) appears bullish, with over 100% of users expressing positivity about the token’s prospects today.

4. MultiversX (EGLD)

MultiversX is a cutting-edge blockchain protocol meticulously engineered to optimize transaction speeds and serve as a foundational technology for decentralized finance, fintech, and the Internet of Things. It harnesses the power of its exclusive Adaptive State Sharding method, a fusion of three sharding techniques, to facilitate lightning-fast transaction processing at an astonishing rate of up to 5400 transactions per second, all at a meager cost of just $0.001 per transaction.

This innovative approach ensures scalability, accommodating a growing influx of applications and transactions. Furthermore, developers active on the platform are offered compelling incentives, including earning 30% of smart contract fees as royalties. Additionally, the platform’s cross-chain interoperability feature fosters seamless interactions among diverse blockchain networks. All these features and incentives come together as the motive to push the EGLD token to relevance as the next cryptocurrency to explode.

The naive EGLD token boasts a multifaceted utility. It serves as a vehicle for staking to unlock network validation rewards, covers transaction fees, participates in voting on platform modifications, and stands as a recognized mode of payment across accepting platforms.

To achieve the coveted milestone of $1,000, the EGLD token must undergo a remarkable growth surge of nearly 30 times its current value. With such an ascent, EGLD’s market capitalization would soar to approximately $21 billion, placing it at the 7th position on the Market Cap ranking, just above Dogecoin.

The #MultiversX ecosystem is experiencing strong momentum on all fronts.

Just in sync with @xDay2023, where we will celebrate the most impactful contributions.

Reach out to your communities, assemble and vote! https://t.co/SWUo2knwsY

— MultiversX (@MultiversX) October 6, 2023

EGLD has demonstrated impressive performance since its inception in 2020, recording a remarkable 80% increase. The token reached its all-time high price of $470 in November 2021, marking a staggering 6.35-fold surge in value in just four months, starting from the low of $74 in July 2021. However, over the past 12 months, EGLD has experienced a 50% decline. Analyzing the data, it appears that under specific circumstances, such as one or two significant liquidity events akin to the COVID-19 pandemic in 2019, EGLD could potentially approach the $1,000 mark.

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