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Since the arrival of initial investors in the market, crypto market trends have fluctuated between narratives. Earlier in the year, the AI and DePIN narrative propelled the top-performing cryptocurrencies.
However, BlackRock’s involvement in the real-world asset tokenization sector is gradually opening the door to a new narrative that might dominate the year’s second quarter. Moreover, the growing interest of retail investors in the BASE chain might also influence the trend of the next cryptocurrencies to explode in the coming months.
Next Cryptocurrency To Explode
Ideally, the recent reduction in gas fees would attract new projects into the Base network. Thus, the latest wave of cloud mining facilities is opening the door for everyday investors and traders to participate in Bitcoin mining. The article reveals the performance and prospects of the Bitcoin Minetrix project. It also shares how investors can take advantage of the opportunity.
1. Aptos (APT)
Despite the overall downward trend in the crypto market, APT posted a positive performance today, bringing its overall gains in the last 30 days to 75%. Generally, APT’s performance contrasts with the overall outlook in the crypto market. Major crytpocurrencies have lost over 30% of their value since the start of the market decline seven days ago. However, APT has printed higher and lower highs over the same period. Thus, it has managed to reverse the one-year-long bearish performance.
Aptos is currently on the wings of recent innovation and use cases, climbing towards its all-time high value of $19.90. With less than 20% more gains to cross into this reagine, the probability that it will post new ATH this quarter is quite high. Also, the trend for the past 30 days reveals that APT bulls have more of an upper hand in the progress of the token.
Moreover, technical analysis of the coin presents a better understanding of why APT should be on every investor’s watchlist. Technical analysis shows that APT has strong buy signals from its oscillators, with Macd readings showing 1.2, which is relatively bullish. RSI readings from its charts also indicate that the token might record more bullish momentum in the coming days.
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🧵 pic.twitter.com/c3iHrnh9PR— Aptos Nerd | Everstake (@apt_everstake) March 20, 2024
However, the moving averages might show that investors might be nearing overbought as the gap between its current price and its EMA in the daily time frame is quite close. Hence, APT might brace up for a momentary pullback before it continues toward its ATH. Ultimately, investors should capitalize on the APT trend as they await the recovery of the crypto market.
2. Lido DAO (LDO)
Will LDO become the next crypto to explode? Usually, in the absence of pumping crypto coins, assets with marginal increases present the opportunity to edge gains and take some profit. Data from LDO charts reveals an opportunity for investors to make gains as it presents prospects for upsides in the coming days.
Recently, the dwindling prices of crypto assets have made crypto and liquid staking platforms popular since they offer passive income opportunities. Lido DAO, for instance, provides staking infrastructure to Ethereum, Polygon, Solana, and a handful of other cryptocurrencies. With the increasing demand for staking services, crytpocurrencies like LDO are bound to continue their uptrend.
In the meantime, LDO trends show that there’s already a growing interest in the market. At press time, LDO printed gains of over 10% and increased trading volume, showing investors are already flocking into staking platforms. In addition, the current trends observed on its chart show that it’s about to break out of its consolidation phase. Thus, LDO might be eyeing prices in the $3.3 – $3.4 range in the coming days.
The Lido staking widget goes IPFS 🪐
The move is a significant advancement in data resilience for UI components.
Future development will center around enhancing user experience through increased decentralization and a transparent governance process.https://t.co/Uy9hs0tRVk
— Lido (@LidoFinance) March 20, 2024
Furthermore, the recent journey into peer-to-peer content sharing and storing protocol may give Lido DAO a foothold across more chains. The staking widget, codenamed InterPlanetary File System (IPFS), offers decentralized hosting services for web content. Hence, LDO is positioned to be more useful in the future. The impact of the new project on the network is still unfolding. Nevertheless, it will likely improve the overall value of the LDO token, and the demand will increase.
3. Pendle (PENDLE)
Pendle is one of the crypto projects that’s enjoyed an uptrend resulting from investors’ interest in real-world asset tokenization. The announcement of BlackRock’s interest in crypto RAWs has caused a dramatic increase in the value of assets. ONDO and TokenFi are some of the assets in the industry that have seen radical price changes, with TOKEN printing increasing by about 50%.
In the last 24 hours, PENDLE has seen over 14% increase in price with a similar increase in the trading volume. Data from its chart also indicates that Pendle might post additional gains later in the week. The token recently crossed its Year-to-date high, reaching about $3.53 today, putting PENDLE at about 9% away from its ATH price. As a result, investors can expect a further upward push from the resulting visibility as Pendle climbs above the all-time high value.
Why let only the BEST yield traders steal all the glory, am I right? 🙄
Calling all the degens, bums, brainlets and minnows, here's YOUR chance to win it big too in the Pendle @Arbiturm Trading Competition!
Introducing the <Best Name> and <Midwit> categories 🏆 pic.twitter.com/1arlEV2TJd
— Pendle (@pendle_fi) March 22, 2024
Another paramount factor to remember is the influence of the ongoing trading competition. The challenge aims to allow traders to win big as they showcase their sophisticated trading style. With over 1500 participants, the effect on the price of PENDLE is bound to push the token towards the $4 mark. Ultimately, investors should keep an eye on the trends of the token as it would likely make repeated appearances on the top gainers list for the coming week. Otherwise, taking precautions when considering the PENDLE token is essential, as it has a track record of high volatility.
4. Bitcoin Minetrix (BTCMTX)
Bitcoin crypto mining interest has increased significantly as the halving month draws nearer. One obvious trend in the market is the persistent outflow of cryptocurrency from miners into the market as they seek to earn high returns on their crypto and meet rising market demand.
Just 3 days remaining until Stage 33 of #BitcoinMinetrix ends!
What factors do you consider before engaging in a cloud mining service? 💭 pic.twitter.com/B2LcGoY6a4
— Bitcoinminetrix (@bitcoinminetrix) March 23, 2024
Hence, the huge supply gap in the market presents a chance for new miners to take advantage of the opportunities. The caveat, however, is the prohibitive price of Bitcoin mining infrastructure. Thankfully, emerging projects are coming into the space to offer a level playing field.
Bitcoin Minetrix has raised over $12.5 million towards building a democratized cloud mining infrastructure. The initiative allows the platform to provide decentralized mining services to the crypto community through its native token, the BTCMTX. Consequently, anyone holding the token can mine bitcoins from anywhere.
The native token of the project is currently available on presale, and it is offered at a fraction of its true value. As the presale offering achieves its milestones, the price is bound to increase. With as little as $0.0142, investors can get 1 BTCMTX before it goes on exchanges. However, the price will only last for another 48 hours before it increases.
Visit the Bitcoin Minetrix Presale
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