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Bitcoin is on its path to an explosive rally. Its recent price increase has rekindled the bullish momentum in the crypto market, recording a price increase of over 5% in the last 24 hours. The rally has raised the token’s value to $65,649, the highest at the time of writing.
Interestingly, many altcoins, including Cosmos, Quant, and stacks, follow BTC trends closely. Based on the market data from these cryptocurrencies, some have posted double-digit gains in the same period, and higher gains are likely. It’s becoming evident that some of these tokens will become the next cryptocurrencies to explode.
Next Cryptocurrency To Explode
In addition, attention in the crypto market in the coming month will be directed toward the mining sector as the market approaches Bitcoin halving. Hence, investors can capitalize on the moment and take a position in upcoming tokens like the Bitcoin Minetrix. The project aims to democratize bitcoin mining, and the details of its presale are covered in this post.
1. Cosmos (ATOM)
Cosmos is on a recovery path with over 7% price increase. Today’s gains bring the price of ATOM to 12, amounting to a 20% change in the last seven days. The sudden increase in the cost of the toke has made investors label ATOM as one of the tokens to watch in this bull market.
Despite having high liquidity and impressive fundamentals, ATOM has endured protracted pressure from the ears before gaining momentum for a recovery. With its current performance, investors might finally record profit on their holdings.
The recent increase in use cases drives the bulk of its gains. The platform announced an upcoming consumer chain that might debut on the network. The project is owned by the Elys Network, a PerpDex platform. The project is believed to Position ATOM as a key element of Elys Network PerpDex. Thus, the demand for the token would increase.
⚛️A new potential Consumer Chain is approaching!@elys_network is a PerpDex and All-In-One Defi platform set to leverage Cosmos Hub Partial Set Security.
Elys Network will position ATOM as a key element of their PerpDex, enhancing its utility.
The #AEZ is expanding 👇 https://t.co/SK64RORvQn
— Cosmos Hub ⚛️ (@cosmoshub) February 28, 2024
Furthermore, the ongoing tension in the hub is drawing increasing attention to the platform. Cosmos’ co-founder is moving to launch a fork under the All in Bits firm. The firm has already established its governance token. While it is unclear how this would affect the price of ATOM, history shows that such moves often result in upward price movement. However, the shock may initially send the price downwards.
Nevertheless, investors should watch for trends carefully because some factors may influence ATOM’s price action in the coming days. An example is the oversold RSI value. Investors planning a short-term investment should keep in mind that an imminent pullback would likely send the price down by a few percent.
2. Bitcoin Minetrix
Bitcoin is only a few blocks away from halving, and its price at the time of writing is drawing closer to its ATH. In addition to its price action, the demand for BTC is currently multiple times the available supply, meaning that the pressure on miners and mining technology would be at its peak.
Bitcoin Minetriix is stepping into the Bitcoin Mining space to revolutionize how the market thinks about mining. It brings the Uniqueness of Cloud computing to democratize mining. With the BTCMTX token, anyone can now mine Bitcoin wherever they are.
Consequently, side effects of mining activities, such as power consumption and climate change, would be reduced dramatically. Also, there’ll be a distribution of wealth as everyday people can now participate in mining.
Only 2 days left till the end of #BitcoinMinetrix Stage 5! 🕒 pic.twitter.com/uKZgg4UMJE
— Bitcoinminetrix (@bitcoinminetrix) November 5, 2023
The BTCMTX is still on presale, and investors are invited to board. It is offered at a discounted price of $0.0138. The discount ends as soon as the presale program rounds off. It means that investors who wish to participate in the mining excel.
Visit the Bitcoin Minetrix Presale
3. Quant (QNT)
Quant’s current performance is pivotal, and investors must monitor the trend. QNT experienced a price decline for many days in the previous year before kicking into a rally with another cryptocurrency in the last quarter. At the time of writing, the token’s price is $127, over $16 higher than a few days ago.
Despite the negligible price increase in the bull market, the prospect of QNT is quite remarkable. The tokne is battling bear pressure, particularly near the $128 – $136 prices. A break above these prices would likely kick the token on a rally that would get it close to its ATH.
Is Quant the next cryptocurrency to explode? Quant’s potential is relatively high in this bull market as the market seemingly favors utility tokens. More importantly, crypto investors, particularly those interested in altcoin, appear to focus more on the DePIN sector. With the focus on interoperability and network optimization, Quant might be one of the tokens that would record continuous growth even after the crypto bull ceases to run.
To get the best from the QNT token, investors should think beyond the current bull market and consider holding tokens for the foreseeable future. The network has no significant upgrades or use cases besides the Rosalind project.
We are proud to publish our case study of Project Rosalind.
To learn more and watch the summary video, visit: https://t.co/0Wgx8XlGOV..
— Quant (@quant_network) February 12, 2024
Hence, it might take a while before QNT breaks into a significant rally. Nevertheless, the potential for a massive uptrend is evident based on its market data at the time of writing.
4. Stacks (STX)
Many altcoins are already surpassing their all-time-high values. Stacks is now on track to testing its ATH as its price at the time of writing is$3.08. It might double its ATH value before or after the halving month at its current pace.
The bulk of Stacks rally comes from its utility as a Bitcoin blockchain layer for smart contracts. The growth in the value of BTC influences the price action of STX. The token’s trading volume surged by over 40% today as the demand for its token continues to increase. In addition to the growing price and demand, as of the 1st of March, STX recorded a price increase of over 23% after its price climbed to as high as $3.38. STX’s growing TVL has remarkably influenced investors’ confidence in the asset.
The future ahead of Stacks is quite optimistic as there’s an increase in the use cases of the Bitcoin blockchain. Moreover, the Stacks network is also undergoing a series of upgrades, partly due to the surge in the activities on Bitcoin. As the upgrades take effect, the token will likely record more increasing prices.
"Stacks has emerged as the leading Bitcoin layer, in a time when many protocols have just begun to build on Bitcoin. It may further solidify this role in 2024 as key network upgrades hit mainnet"
– by @MessariCrypto
Read back the full report below. pic.twitter.com/Sh5nEbgD7Z
— stacks.btc (@Stacks) March 3, 2024
Conversely, compared to many other cryptocurrencies, STX is notorious for high volatility and responds to market movement with significant price changes. Therefore, investors must watch the trends closely to time the price changes. Overall, Stacks present an opportunity to leverage the bull market, particularly the current price action of Bitcoin.
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