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It’s the opening of the new month, and the excitement surrounding the Bitcoin halving just got a lot more intense. However, altcoin prices across the board have declined marginally. The cause of the overall price movement remains unclear, but there are speculations that funds might be rotating back into Bitcoin ahead of the halving event.
Generally, crypto investors believe that Bitcoin might become one of the next cryptocurrencies to explode based on historical data. However, while the anticipation and excitement of the halving event rage on, investors still look to altcoins for long-term opportunities.
Next Cryptocurrency To Explode
Ideally, it’s often best to look into upcoming crypto projects when considering an investment in an asset with remarkable growth potential. 5th Scape is an example of a promising project with a chance of posing vertical price actions upon listing. The project has found its place in the major crypto narrative and would equally span the software and hardware side of cryptocurrency. This article highlights important facts about the 5th Scape.
1. Toncoin (TON)
Is TON the next cryptocurrency to explode? Toncoin has been in the news lately as the community executes the experience of initiatives to drive market activity around the network and its underlying cryptocurrency, TON. A recent example of the initiative involved giving away TON worth hundreds of thousands of dollars. The event has generated visibility and intense activity for the network, resulting in price and volume increases for the coin.
In the last 24 hours, TON posted a price increase of over 3%, which would mark the beginning of more gains in the new month. The second quarter is packed with more activities for the Toncoin network and its associated platform, Telegram. The company made some announcements recently that might increase the use case of TON, particularly on the social media platform.
Telegram recently announced an intended revenue-sharing program with channel owners who have up to 1000 subscribers on the platform. With the program, there’ll be a 50% revenue share between telegram and channel owners. Also, a plan is being put in place that would allow Advertisers to place ads on Telegram with TON.
The #TON-based Telegram Mini Apps are a “Trojan horse” for mass blockchain adoption.
Justin Hyun @maverickqe, Director of Investments at TON Foundation, talks with @Cointelegraph about the plan to onboard the next 500M users. ⬇️https://t.co/p6U0iyMA9P
— TON 💎 (@ton_blockchain) April 1, 2024
Thus, it is expected that the demand for TON will reach a peak in the coming weeks, especially as the halving event draws closer. Nevertheless, there are signals of a possible pullback in the value of the asset as its relative strength index chart is trending close to its oversold value.
Also, the Average Directional Index, which indicates the strength and weakness of the trend, shows that TON’s uptrend is growing weaker, with a value of 32. Consequently, investors should expect a momentary pullback in the trend of the asset before it continues its climb toward a higher value.
2. 5th Scape (5SCAPE)
5th Scape is one of the upcoming cryptocurrency projects to watch this season. The project’s mission cuts across the major crypto narratives and emerging technology. According to the 5th Scape Whitepaper, the project aims to become the world’s first VR ecosystem. It’s working towards connecting the entire VR across the world into one giant network. With that, users can plug into endless streams of content and other features.
GET YOUR TOKENS NOW!!!#vr #5thscape #cryptocurrency #Presale pic.twitter.com/4t4cIrP0St
— 5th Scape (@5th_scape) March 28, 2024
The platform also seeks to decentralize the hardware side of VR technology. Rather than leveraging third party gear for its content delivery and achieving its mission, the 5th Scape team hopes to invest in VR gear development and other associated hardware. In the long run, the platform would likely become one of the few Web3 projects that cuts across hardware and software implementation.
At the time of writing, the 5SCAPE is on presale at $0.00285 due to the ongoing discount. Investors who get in on the presale offering can take in impressive ROI upon the project’s listing on exchanges. Similarly, as the project executes its Roadmap, the value of its underlying cryptocurrency will follow a vertical value increase. Ultimately, the team and the early investors who participate in the project win.
3. Theta Network (THETA)
The past 30 days have been quite profitable for THETA holders. The token has amassed over 53% in the said period. Today, THETA posted intraday gains of over 5%, giving it over $3 value. The market cap of THETA also witnessed a 12% increase in the last 24 hours, putting the token at #46 ranking by market cap.
Besides its surging price and market cap, the Theta network token also posted a higher trading volume value. It increased by nearly 220% today, amounting to 4% of its market cap by ratio. Generally, a significant increase in trading volume often signifies growing interest in an Asset.
Again, the improved performance of THETA is not a coincidence. The project’s long existence in the DePin sector gives it the edge it needs to excel above the newer arrivals. Theta network focuses on providing decentralized infrastructure for Video, entertainment, and content distribution. More recently, the team and community have been working towards leveraging the advancement in AI technology to expand the use cases of blockchain.
Theta was a pioneer in #DePIN long before the term became popular – learn how Theta began building a “Resource Sharing Economy” for computing resources in 2018, in the latest EdgeCloud release blog:https://t.co/TNC9aUCdXE
— Theta Network (@Theta_Network) March 25, 2024
The project’s expansion has birthed a resurgence in the demand for the native cryptocurrency, THETA. Despite its current price of $2.9, there are indications that THETA is one of the next cryptocurrencies to explode. At the time of writing, the chart of the token is trending towards and headed for the resistance cluster at the $2.8 range.
It’s best to note that a price reversal at that level may see the price of THETA climbing back above the $3 range. However, if it breaks below, it might head closer to the $2.4 – $2.5 range. Hence, investors should keep a close watch on this coin as it could easily give marginal returns on short-term investment.
4. Uniswap (UNI)
Uniswap is currently trending downward. However, while the price decline might appear like a disadvantage, it’s an opportunity for investors to buy the dip. After an impressive first quarter, UNI might be ready for another run despite the ongoing underperformance.
The Uniswap chart shows that the price of the asset is currently retesting the mid-range of the current cycle. What this means is that a break above this price level would give the token the momentum it needs to reach the $15 – $18 price range. Consequently, UNI will likely make it to the top range due to the bull run that will result from the upcoming halving event.
An analysis of the Uniswap chart shows that investors might soon see a stall in the falling price of the asset as its Average Directional Index reading shows a weakening trend. Thus, the chart of UNI may swing into a consolidation in the new week before taking an uptrend towards the upper part of the mid-range.
UNI swap may become the next cryptocurrency to explode, particularly if it breaks above the $15 price range. Nevertheless, the chance of UNI breaking its ATH value in this cycle would be determined by the overall prospect of this bull run. Above all, Investors should Include the UNI token on their watchlist to follow the trend as it unfolds.
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