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The altcoin market looks bullish as some coins try to bounce back. Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin and meme coin sectors and making the most of the altcoin market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a gaming economy with real monetizable value. This post covers the details of its presale.
1. Conflux (CFX)
Conflux Network (CFX) is a fast layer-one blockchain that uses both proof-of-work and proof-of-stake mechanisms. Based in China, it complies with local laws and is often called the “Chinese Ethereum.” The CFX token serves multiple purposes, such as a store of value and for governance. Additionally, staking CFX tokens can generate passive income by earning more CFX tokens.
Recently, Conflux’s price has been rising alongside Bitcoin’s return to the $60K mark. However, sellers are now active and attempting to halt further price increases soon. Despite this, the recent introduction of a spot Ethereum ETF may positively impact Chinese crypto tokens, potentially leading to a significant increase in the CFX price soon.
Analyzing the daily price chart of Conflux, we see that the bulls and bears are fighting a tough battle. The price faces a minor upward correction toward $0.17. The 24-hour trading volume has surged to $36.4 million, indicating increased trading activity today. Currently, CFX is trading at $0.1624, up by over 7% in the last 24 hours.
Marion Laboure, a researcher at Deutsche Bank, believes Bitcoin could become a modern-day equivalent of gold. Conflux Network is the only blockchain in China that meets regulatory standards. This makes it a likely choice for Chinese investors who prefer buying CFX tokens over Bitcoin.
Moreover, Conflux Network is committed to educating Chinese artists on using its platform for NFTs throughout 2024. They are also promoting existing projects on the network, such as ConFi’s Friends and the MEI PROJECT sneakers, which have successfully introduced NFT-themed products. This initiative might increase the demand for CFX tokens in the Chinese market.
2. VeChain (VET)
VET, the native cryptocurrency of the VeChain platform, has risen by about 30% in the past week, based on data from CoinMarketCap. This increase comes after a recent price drop and includes a 7.46% rise in the past 24 hours, with its market cap growing by the same amount during this time. VET’s rebound comes after a four-month bearish trend that saw the cryptocurrency fall from a yearly high of $0.05500 on February 24 to $0.02016, a 63.26% drop. This decline pushed VET below several support levels, setting a new low price for 2024. The drop to $0.02016 was the lowest level since November 2023.
VET’s recovery started on July 5, when the VeChain network’s crypto formed a classic downtrend rejection candle on the daily chart. The token’s price continued to rise, closing higher than its opening value for seven consecutive days.
A new decentralized application (DApp) called FUEGO launched on the VeChain network on July 14. FUEGO lets users burn VTHO and receive B3TR tokens in exchange. The creators of FUEGO stated that it would enable users to support the VeChain network’s sustainability and research efforts. FUEGO’s incentive model could attract more users to the VeChain ecosystem, boosting the adoption of the parent project and contributing to VET’s upward price momentum.
🔥 Exciting News! Introducing FUEGO, an innovative dApp on Vechain! Burn your VTHO and earn B3TR tokens while contributing to sustainability and research initiatives. Let’s dive in!
— Fuego (@fuego_vet) July 14, 2024
This recent surge indicates improved sentiment and a potential bullish reversal. Along with the price increase in recent sessions, interesting developments in on-chain metrics have supported the bulls’ comeback.
3. PlayDoge (PLAY)
Play-to-earn (P2E) meme coin PlayDoge ($PLAY) has defied the market downturn, raising over $5.6 million in its presale. This coin, featuring an 8-bit Dogecoin Shiba Inu pup as its mascot, aims to lead the sector that started this year’s bull run. However, PlayDoge is not just another meme coin. It introduces a new game economy inspired by the popular 1990s Tamagotchi digital toy.
The ecosystem’s core is its native token, $PLAY, which offers various in-game and market utilities. Currently priced at $0.00517, the value of one $PLAY will increase to $0.00518 in less than a day as it enters the next presale stage.
PlayDoge stands out by incorporating P2E elements. Inspired by the classic Tamagotchi game, players can care for virtual Shiba Inu dogs in an 8-bit world, earning $PLAY tokens as rewards. Instead of just holding meme coins, crypto enthusiasts can now interact with their favorite dog breeds in a personal way.
Players earn $PLAY tokens through diligent care and winning mini-games. Those who actively care for their virtual pets can also climb the game’s leaderboard for additional rewards. Moreover, PlayDoge is multichain, allowing transfers between BNB and Ethereum.
Beyond gaming, PlayDoge has the potential to attract a diverse group of investors, including women drawn to its nostalgic appeal reminiscent of Tamagotchi’s popularity among girls. Thanks to gaming fun and meme appeal, $PLAY is set to lead the next market surge. Act quickly to buy your tokens and join the smart money flowing into this project, potentially pushing the market to new heights.
4. Maple (MPL)
The MPL price is $15.50 today, up over 24% in the last 24 hours. The trading volume has also surged by 153.91%, reaching $436,866,201. Maple Finance is trading 66.58% above the 200-day SMA of $9.22. The price prediction sentiment remains bullish, with the Fear & Greed Index at 52 (neutral), suggesting the token may trade sideways.
In other news, Zodia Custody, co-owned by Standard Chartered, has announced a strategic partnership with Maple Finance. According to a press release, Maple Finance will use Zodia Custody as its main custodian for global lending agreements. This partnership represents a significant step in merging traditional finance with decentralized finance.
The partnership will go live by early Q3 this year, with both companies optimistic about the potential benefits. Maple Finance’s pledged collateral will be securely held by Zodia Custody, allowing customers to access the value of their digital assets within the Zodia ecosystem.
We're excited to announce a strategic partnership with @ZodiaCustody, a leading institution-first digital asset custodian to further progress Maple's goal to be the home of digital asset lending and borrowing in the space.
➡️ Read more here: https://t.co/ov2KpyMwEX
— Maple (@maplefinance) July 9, 2024
Maple Finance aims to use Zodia Custody’s infrastructure to improve the security and reliability of its lending service. This collaboration will also allow Zodia Custody wallets to support the Maple token, meeting the demand for optimizing profits in non-traditional value repositories.
With its strong fundamentals and a dedicated crypto community, MPL has significant growth potential. If Maple Finance announces further collaborations, the MPL Coin’s maximum price could exceed $20.
5. eCash (XEC)
eCash (XEC), previously known as BCHA, is a cryptocurrency created from a fork of Bitcoin Cash (BCH) by the Bitcoin ABC team. Using the Avalanche consensus protocol, eCash provides better security and almost instant transaction confirmations. The rebranding introduced a new name and display format but kept the main functions of the cryptocurrency intact.
With the Avalanche protocol, eCash greatly enhances blockchain security and ensures quick transaction confirmations. This protocol also supports easy future network upgrades, making eCash adaptable and future-ready. Additionally, eCash allows staking, enabling users to take part in network consensus and earn rewards. The platform also lets businesses and developers create custom tokens, called eTokens, for various applications.
Currently, eCash is trading at $0.0.00003464, showing an 11.09% increase over the past 24 hours. In addition to a 16.02% increase over the last week, it has maintained an overall positive trend, with 20 out of the previous 30 trading days being positive. Since its launch, eCash has risen by over 16%, outperforming many leading cryptocurrencies.
With Pre-Consensus, $XEC txs will be finalized before they’re included in a block, cutting the transaction settlement time from 10 mins to a few seconds. This means super secure instant transactions and no more waiting for exchange deposits! 🚅⚡
ℹ️ https://t.co/YNI28BS2SU https://t.co/2eCkMSy0k1 pic.twitter.com/LyrZV7nalF
— eCash (@eCashOfficial) July 15, 2024
Looking ahead to 2025, some analysts predict a bullish market driven by favorable regulatory and technology trends. Additionally, easing inflation and launching Ethereum ETFs may boost cryptocurrency adoption, positively affecting eCash. If the market remains bullish, the average price of eCash could reach around $1.15 next year, with a potential high of $1.50.
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