Join Our Telegram channel to stay up to date on breaking news coverage
The cryptocurrency market experiences changes and developments that shape investment choices every day. Last month, the cryptocurrency market experienced heightened volatility as several tokens experienced price fluctuations. But things are already starting to look up for smart investors.
The crypto market is observing a noteworthy increase in trading signals, leading investors to religiously search for the next promising token. However, spotting the next cryptocurrency to explode amidst this abundance requires a thorough understanding of the market dynamics. Today’s article identifies coins with some potential and informs investors and traders about each token.
Next Cryptocurrency To Explode
Today’s review highlights promising cryptocurrencies that investors should keep an eye on. Among these is a new project called FreeDum Fighters. FreeDum Fighters is a satirical token that combines crypto with political drama. In stage 1 of its presale, the project has already laid a clear roadmap. Investors looking for something fresh should consider adding FreeDum Fighters to their watchlist.
1. Beldex (BDX)
Beldex has experienced a minor % price drop of 2% in the past 24 hours, but its weekly and monthly trends remain positive. Although Beldex has medium liquidity, with a volume-to-market cap ratio of 0.0207, the token is building momentum. The community recently celebrated a major milestone, reaching 4 million picks on Binance Futures NEXT. This achievement shows the growing enthusiasm and trust among Beldex supporters, reflecting its increasing impact in the crypto world.
Beldex prioritizes privacy, offering decentralized apps (dApps) that enhance user data protection and confidentiality. The BDX token allows secure, anonymous peer-to-peer transactions, giving users a safer environment for their activities.
Recently, Beldex transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) model. This move has improved scalability, lowered fees, and sped up transaction times, setting Beldex up for future growth. The project also uses advanced privacy technologies like the RingCT protocol to hide sender information and stealth addresses to protect original addresses, ensuring highly secure transactions.
In the short term, Beldex has shown strong performance. Its 14-day RSI is at 65.59, indicating a neutral position, with 22 green days out of the last 30, or 73% positivity. Moreover, its low volatility of 4% points to steady growth and stability.
In the long term, Beldex’s outlook is impressive. It trades 88.23% above its 200-day simple moving average, and over the past year, its price has risen by 96%, outperforming 63% of the top 100 crypto assets. These metrics suggest that Beldex holds promise as a solid investment choice.
2. Raydium (RAY)
Raydium’s RAY token has gained close to 20% this week, driven by strong trading activity on Solana’s top decentralized exchange. Market indicators suggest this momentum could continue, as Raydium remains a dominant player in Solana’s trading space. Since October 28, the platform has processed $8.9 billion weekly, representing 62% of Solana’s decentralized exchange activity.
The Relative Strength Index for RAY stands at 64.8, below the overbought level, indicating potential for further gains before hitting resistance. Additionally, recent trading volumes highlight Raydium’s market strength. Last week, Raydium even surpassed Ethereum in fee generation, with total Solana DEX volume reaching $14.3 billion.
The token’s price momentum seems steady. Short-term exponential moving averages are above longer-term ones, and all indicators sit below the market price, showing continued strength. Current patterns suggest a potential rise to $3.62, which would be RAY’s highest price since 2022. Also, support levels provide some downside protection, with initial support at $2.94 and secondary support at $2.65 if needed.
Icymi, the full @artemis__xyz research report on Raydium!
Strap up, it’s a deep dive and @0xkyle__ unpacks A LOT here 🤝🤝 https://t.co/XoZyZkilO8
— Raydium (@RaydiumProtocol) October 31, 2024
Growing institutional interest in Solana could positively impact Raydium. With more institutional participation, Raydium might expand its market share, which could help support its token value. The market’s technical outlook remains positive, with the relationship between short- and long-term moving averages indicating strong buying momentum. Currently, this momentum shows no clear signs of slowing down.
However, an overbought RSI level might lead to some profit-taking, and lower trading activity on Solana could pressure prices. Still, Raydium’s recent performance reflects rising institutional interest in the Solana ecosystem, and its strong market position points to continued leadership in decentralized trading.
3. FreeDum Fighters (DUM)
The new PolitiFi meme coin, FreeDum Fighters ($DUM), has raised over $410,000 in its ICO. With early voting underway in the U.S. and over 50 million ballots already cast, the presidential race is heating up as candidates make their final pushes before Election Day on November 5.
FreeDum Fighters adds a playful twist to the election season by featuring two mechanized versions of the main candidates: Trump as MAGATRON, the MAGA machine, and Harris as Kamacop 9000, the enforcer against injustice. Early presale participants can stake $DUM with their preferred character — MAGATRON or Kamacop 9000. Currently, MAGATRON is leading in support.
Kamacop 9000’s impressive 1,171% APY has attracted attention, yet 73% of early buyers are still backing MAGATRON, despite its lower 308% APY. Staking rewards will decrease as more tokens get locked in the pools. While polls, like the ABC survey, show Kamala Harris with a slight lead, the crypto market leans differently; on Polymarket, bettors are favoring Donald Trump, echoing the sentiment among early FreeDum Fighters supporters.
THE FINAL BATTLEGROUND POLLS
Who you got? Kamacop 9000 or MAGATRON? pic.twitter.com/wz8LSKx4PW
— FreeDum Fighters (@Freedum_Fighter) November 3, 2024
A key question remains: can the crypto community’s stance make an impact? FreeDum Fighters invites politically active crypto users to make their voices heard by staking $DUM tokens in support of MAGATRON or Kamacop 9000.
Currently, the $DUM token costs $0.000065 in Phase 1 of the presale, which ends in less than two days. Afterward, the price will increase with the start of Phase 2.
4. Arkham (ARKM)
Arkham (ARKM) drew attention in early October by reaching a high of $1.6677, continuing its recent upward trend. On the first of this month, it hit $1.7, marking its highest level since July 19. This growing popularity is largely due to Arkham’s extensive data offerings, which give users a broad view of the crypto landscape. The recent price rise aligns with a double-bottom pattern, a bullish indicator suggesting potential for further growth as the price holds above $1.52.
Over the last 24 hours, ARKM has seen fluctuations, ending with a 1.62% dip at the time of writing. Its 14-day RSI sits at 59.20, signaling a neutral stance that may result in sideways movement. Still, the sentiment remains upbeat, with a Fear & Greed Index score of 69, pointing to optimism for continued growth.
Arkham’s unique strength is its wide blockchain coverage. While many platforms specialize in specific chains, Arkham’s AI, ULTRA, collects data across multiple blockchains, providing users with a thorough view of the crypto market.
THIS GUY BOUGHT $100K OF PNUT… THEN ELON MENTIONED IT
22 hours ago, Solana trader tonkadriving.sol bought $95.4K of PNUT, a token created in support of “Peanut”, a squirrel taken by authorities in New York who was subsequently euthanised.
12 hours after buying, tonkadriving… pic.twitter.com/YWpuN907Pz
— Arkham (@ArkhamIntel) November 2, 2024
As reported by Bloomberg, Arkham Intelligence is preparing to launch a cryptocurrency derivatives exchange this month. The company is also relocating its offices from London and New York to Punta Cana in the Dominican Republic. This move aims to leverage the country’s free trade zone, which offers tax and financial benefits.
The new exchange will focus on retail investors but will not operate in the U.S. due to regulatory restrictions. Arkham plans to compete with large exchanges like Binance, OKX, and Bybit by offering an easy-to-use platform and attractive features. With 880,000 active monthly users, Arkham gained traction last year by introducing a marketplace that rewards users for identifying cryptocurrency wallet addresses.
5. EigenLayer (EIGEN)
EigenLayer (EIGEN) recently experienced a strong recovery as investors capitalized on the momentum following last month’s airdrop. The token reached a high of $3.86, its best level since October 2, driven by an announcement from the founder, who shared that the network is shifting its focus toward Web3 applications. Though the price has since fallen by 17%, there is still optimism about its potential for future growth.
EigenLayer operates behind the scenes, securing services like AltLayer, Ethos, and Lagrange rather than offering a consumer app. Even after a recent hack that led to the loss of over 1.6 million tokens worth $6.8 million, the token’s recovery continues. The stolen tokens were transferred through a decentralized platform before reaching centralized exchanges.
Developers have announced plans to unlock and distribute 67 million tokens, which is 4% of the initial supply, over the coming year. A portion of these tokens will be released each Tuesday, with 3% allocated to Ethereum and liquid staking token stakers, while 1% will go to EIGEN stakers and operators.
EigenLayer Programmatic Incentives – October 2024 Summary
Programmatic Incentives v1 is an EigenLayer protocol feature providing weekly EIGEN rewards to qualified stakers and operators for their active participation in supporting AVSs, starting from August 15, 2024.
In the… pic.twitter.com/vjZK2OZyWW
— EigenLayer (@eigenlayer) November 1, 2024
In other news, the platform partnered with Predicate (formerly Aethos) to improve decentralized transaction requirements. This collaboration aims to streamline on-chain transaction logic, enhance user experience, and offer safer, more flexible interactions on the blockchain.
Additionally, EigenLayer is working with Gaia, an open-source AI infrastructure platform, to bring AI services into its Active Validator Services (AVS) framework. This partnership will advance AI inferencing, enable multi-token staking, and strengthen security for decentralized AI applications, marking a significant step forward for decentralized finance (DeFi).
Read More
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
Join Our Telegram channel to stay up to date on breaking news coverage
