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Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has risen above $65,000, and Ethereum (ETH) has risen above $2,600, providing some relief to investors.
However, identifying the next cryptocurrencies to explode is challenging as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Memebet Token. This new Telegram-based betting platform allows users to bet using meme coins for the first time, generating excitement among crypto enthusiasts. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Farcana (FAR)
Farcana is a free-to-play, third-person arena shooter built on Unreal Engine 5 and powered by a Web3 economy. It is set to launch on PC and aims to be a next-generation esports-focused game featuring in-game tournaments fully integrated into its system. Farcana Labs, the project’s scientific and engineering branch, develops AI solutions and wearables to enhance the gaming experience. These tools also help create comprehensive data profiles for gamers.
Today, the price of FAR stands at $0.01243, reflecting a significant rise of over 48% in the last 24 hours. This increase also boosted its market cap by 48.06%, while its trading volume surged by an impressive 88.96%. Despite the Fear and Greed Index being at 41, indicating fear, the overall sentiment around FAR remains bullish. The token has seen over 16 positive days in the past month, along with a substantial jump in trading volume, pointing to growing optimism about its future.
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— Farcana (@FarcanaOfficial) October 2, 2024
With strong fundamentals, Farcana has the potential to achieve significant success. If it continues to gain support from the crypto community and secures partnerships with other networks, its price could soon surpass $0.15. If the current positive trend in the crypto market holds, we expect the price of FAR to average around $2.19 by 2025.
2. FTX Token (FTT)
The cryptocurrency market is buzzing today with the impressive rise of FTX Token (FTT), the native token of the now-defunct FTX exchange. Over the past 24 hours, FTT has surged by more than 19%, and in the last week, its value has climbed over 65%. This sharp rise is fueled by growing excitement around FTX’s ongoing bankruptcy proceedings.
There is increasing speculation that funds could soon be distributed to FTX creditors and customers, as most creditors recently voted in favor of a new reorganization plan. All eyes are on the upcoming October 7 hearing, which could be a pivotal moment. If the plan is approved, smaller claimants (those owed less than $50,000) might start receiving payments by the end of 2024, while larger creditors may have to wait until 2025, according to reports from Cointelegraph.
(1/3) The FTX Debtors are providing an update on the proposed settlement with the preferred shareholders. FTX will be returning 100% of the assets under FTX’s control to creditors in the Ch. 11 plan. The DOJ is in control of the distribution of assets forfeited through the…
— FTX (@FTX_Official) September 30, 2024
For FTT holders, the outcome of this hearing is critical. If the court approves the plan, FTT could see continued growth, following recovery trends seen in other cryptocurrencies. On the other hand, if there are delays or rejections, FTT’s price could drop quickly.
Currently, FTT is trading at $2.37 and approaching a key resistance level. It is forming a symmetrical triangle pattern, which often signals a potential breakout. If it moves above $2.44, further gains could follow, with the next major resistance at $3. Some analysts even predict a midterm rally with a target price of $4.00.
3. Memebet Token (MEMEBET)
Despite the recent downturn in the crypto market, the Memebet ($MEMEBET) token presale has remained steady, surpassing $360,000 in funding. This project brings a fresh twist to meme coins by turning them into wagering currencies within the growing GambleFi space. Memebet aims to provide a useful utility for meme coins, which is especially valuable as the market faces fluctuations and declining asset prices.
For those looking to get involved, $MEMEBET tokens are currently available at $0.0256 during the presale. However, with the next funding stage approaching in less than 24 hours, the token price will increase as new investors join the project. Memebet is not just about investing in meme coins; it offers a platform where investors can use their holdings to bet on various games, giving them a chance to win big.
While popular meme coins like $DOGE and $SHIB are accepted, the true key to unlocking all the platform’s benefits is through the $MEMEBET token. Using $MEMEBET grants access to airdrop rewards, exclusive degen bonuses, and entry into the upcoming Memebet Casino Lootboxes, which offer real-world prizes and valuable casino bonuses.
To give early adopters more opportunities, Memebet is also running a Gleam giveaway. Ten winners will receive $1,000 worth of $MEMEBET tokens. To participate, users need to purchase $MEMEBET during the presale, submit their wallet address, join the project’s social media channels like X and Telegram, and submit their casino wallet address after the casino launch.
4. Trust Wallet Token (TWT)
Trust Wallet Token (TWT) is currently priced at $1.01, showing a 1.32% increase in the last 24 hours. Over the past year, TWT has risen by 23%, and in the past 30 days, it has had 19 “green days,” meaning the closing price was higher than the opening on 63% of those days.
TWT also has strong liquidity, backed by its market capitalization. As of October 3, 2024, technical analysis points to a neutral market sentiment, with 21 indicators suggesting a bullish trend. However, the Fear & Greed Index is at 37, indicating some fear in the market.
TWT’s price is expected to increase by 45.41%, potentially reaching $1.42 by November 2, 2024. In the short term, minor price fluctuations are expected, ranging between $0.98 and $1.06 from October 4 to October 8, 2024. Despite this volatility, the overall outlook is cautiously positive.
🧵👇 Trust Wallet Launchpool: What’s the deal?
We’re launching the first-ever Launchpool in a self-custody wallet! Now, our 140M+ users can stake tokens and earn rewards from top-tier projects. pic.twitter.com/Wbsil5oO40
— Trust Wallet (@TrustWallet) October 2, 2024
Moreover, TWT has significant potential. If the project secures new partnerships, the price could rise above $1.50. If the current bullish trend continues, TWT’s average price could reach $2 by the end of the year.
5. Reef (REEF)
Reef Coin is making waves as one of the most advanced blockchain networks available. As the native token, Reef Coin is used to pay fees, run validator nodes through staking, and nominate validators for the network. It has strong backing from multiple venture capital firms and leading market funds, showing confidence in its potential. With Bitgert’s upcoming announcement, many are expecting tokens like Reef to see significant growth.
Reef Coin stands out for being EVM-compatible, offering scalability and low transaction costs. It allows seamless migration of Ethereum-based dApps and uses a Nominated Proof-of-Stake (NPoS) consensus mechanism to ensure both security and decentralization.
Last month, Reef (REEF) saw a major rally, hitting a high of $0.0048, its best performance since March 12. This remarkable 670% rise from its lowest point makes it one of the top-performing altcoins. Currently, its market capitalization is over $137 million. Interestingly, this surge happened after Binance delisted the token, suggesting a possible short squeeze. Most trading now occurs on platforms like Gate.io and WhiteBIT.
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Reef is currently trading at $0.006017, a 9.56% increase in the last 24 hours. Over the past year, its price has jumped by 432%, outperforming 89% of the top 100 crypto assets. Reef is also trading 298.10% above its 200-day simple moving average (SMA) of $0.001793, and with 19 out of the last 30 days being green, it shows a positive trend for 63% of the period.
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