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With the bulls on the horizon, investors seek tokens offering promising returns. Pinpointing the next cryptocurrency to explode offers a head start to shrewd traders. As such, Insidebitcoins carefully examines the crypto market to spotlight specific cryptocurrencies anticipated to experience substantial growth.
Next Cryptocurrency To Explode
Altcoins are taking center stage, creating ripples across the broader cryptocurrency market. This article highlights coins known for their high liquidity and compelling use cases. Solana, for instance, has rolled out new tools benefiting developers and businesses, leading to an upswing in the token’s price. In addition, Conflux Network has recently unveiled an EVM-compatible Bitcoin Layer 2 (BTC L2) solution.
1. Solana (SOL)
Solana is currently priced at $92 and has shown a positive trend in the crypto market. The cryptocurrency holds a market cap of $1.10 billion, securing its position as the fifth-largest digital currency by market cap. However, there’s been a slight drop in the 24-hour trading volume, now at $1.4 million.
Furthermore, Solana has introduced new tools for developers and businesses to improve tokens. The cryptocurrency is currently in a neutral position according to the market sentiment. In addition, the Fear & Greed Index for SOL is 64, indicating Greed among investors, suggesting increased buying activity.
Token extensions on Solana reduce engineering time, empowering developers to focus on building advanced token functionality into their products 💪
Learn more & get started building with token extensions 👇 https://t.co/0rHnxZUcAl
— Solana (@solana) January 26, 2024
Moreover, the token’s highest price was $259.52, while its lowest was $0.503701 in May 2020. Since then, it’s proven resilient, with the lowest price since its peak being $8.12. Despite a recent 13% drop, Solana bounced back, demonstrating its ability to handle changes in the market.
Also, Solana has seen an impressive 287% increase in price, outperforming 92% of the top 100 crypto assets. It has also demonstrated positive performance compared to its token sale price.
Solana currently ranks #2 in the Proof-of-Stake Coins sector and #2 in the Solana Network sector. Likewise, the coin ranks #4 in the Layer 1 sector and boasts high liquidity based on its market cap.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix operates on a Stake-to-Mine system, utilizing smart contracts on the Ethereum blockchain. This mechanism enables investors to stake and burn tokens to earn mining power. The project distinguishes itself with a substantial stake of over 400,000 BTCMTX tokens, offering an initial annual percentage yield (APY) of 103,225%.
The token distribution strategy allocates 42.5% for mining operations, emphasizing a commitment to building a robust infrastructure. An additional 35% is earmarked for marketing and expansion, while 15% rewards the community, and the remaining 7.5% is allocated for staking rewards.
Furthermore, this strategic token distribution aligns with the platform’s focus on strengthening mining infrastructure and fostering progressive growth. Moreover, BTCMTX has raised $9,580,880.39, exceeding the $10,326,940 goal. Also, investors can participate using Ethereum (ETH) or Tether (USDT) with a minimum investment of $10.
#BitcoinMinetrix has successfully raised more than $9,400,000! 🪙 pic.twitter.com/4jFDiFu5wJ
— Bitcoinminetrix (@bitcoinminetrix) January 26, 2024
In addition, the staking system is designed to alleviate sell pressure once the tokens hit exchanges, presenting a potential for significant growth. One impactful aspect of Bitcoin Minetrix is its contribution to Bitcoin’s hashing power, enhancing the network’s overall security.
Visit Bitcoin Minetrix Presale.
3. Conflux (CFX)
Conflux Network recently introduced an EVM-compatible Bitcoin Layer 2 (BTC L2) solution. It aims to leverage Bitcoin’s reliability to enhance Conflux’s capabilities. This move is a step forward in improving blockchain compatibility.
Furthermore, this integration utilizes Proof-of-Stake (PoS) consensus in Conflux, serving as a dependable Bitcoin Oracle. It provides comprehensive metadata about the Bitcoin network through internal contracts, including the Merkle root of all qualifying inscriptions.
This article explores how Conflux's Bitcoin Layer 2 integration revolutionizes asset management and network security in blockchain.https://t.co/enWw1cItGy
🔒 Proof-of-Stake (PoS) consensus acts as a reliable Bitcoin Oracle.
🌐 Comprehensive metadata connects Conflux and…
— Conflux Network Official (@Conflux_Network) January 25, 2024
This functionality enables on-chain contracts on the Conflux network to access and respond to events on the Bitcoin blockchain. Moreover, this Layer 2 network facilitates seamless Bitcoin transfers and supports inscription-powered assets between Conflux’s blockchain and Bitcoin’s ecosystem.
Since Conflux’s announcement, the native token CFX has shown positive market movements. With a current price of $0.2232, the coin experienced a 3.73% intraday increase, surpassing the 200-day Simple Moving Average (SMA). Furthermore, CFX’s price has surged by an impressive 205%, outperforming 84% of the top 100 crypto assets.
Additionally, CFX has outperformed both Bitcoin and Ethereum in this period. The token’s Fear & Greed Index indicates a Greed stance at 55, and investor sentiment is bullish. Conflux Network’s circulating supply is currently at 3.65 billion CFX out of a maximum supply of 5.28 billion. The yearly supply inflation rate is 74.70%, creating 1.56 billion CFX last year.
4. Helium (HNT)
Helium currently stands at $7.46, displaying an active trading volume of $10.19 million in the last 24 hours. The recent collaboration between Helium and Telefónica has sparked interest. This integration focuses on deploying Helium Mobile Hotspots in Mexico to enhance mobile coverage in specific areas.
This partnership aims to improve mobile services for selected Mexico City and Oaxaca customers. As a result, HNT, the token associated with the Helium Network, has experienced an uptrend. HNT is currently trading at $7.81, indicating a 5.31% increase.
Furthermore, the price has surged by 166%, outperforming 81% of the top 100 crypto assets. Helium’s circulating supply is currently 160.52 million HNT out of a maximum supply of 223 million. With a yearly supply inflation rate of 20.20%, approximately 26.97 million HNT were created last year.
Helium holds the 18th position in the Ethereum (ERC20) Tokens sector and the 32nd position in the Layer 1 sector. What stands out is HNT’s performance compared to tokens like Bitcoin and Ethereum, showcasing its potential in a competitive field.
Trading above the 200-day simple moving average suggests a consistent upward trend. Moreover, HNT has seen 15 consecutive green days, contributing to 50% of the period and instilling optimism among investors.
📱Important Update: Helium HNT Wallet v2.6.2 (Android & iOS)
The v2.6.2 release focuses on resolving bugs and improving the process for claiming rewards from locked positions. You can now directly participate in Helium Governance and management of locked tokens from the Helium…
— Helium🎈 (@helium) January 25, 2024
Investors closely monitor these indicators, speculating on the potential continuation of HNT’s growth. The collaboration with Telefónica and the project’s positive trends make Helium an intriguing asset in the crypto space.
In other Crypto news, FTX is divesting itself of crypto assets and accumulating cash. The decision comes as bankruptcy advisers diligently explore avenues to reimburse users whose accounts have remained frozen since the platform’s demise.
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