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Bitcoin has been quite unstable since the halving event in April this year. Its recent price drop has made investors and analysts question the potential for a bullish momentum in the crypto market, recording a price drop of over 3% in the last 24 hours. The drop has reduced the token’s value to $60,714.80 at the time of writing.
Many small investors are re-entering the cryptocurrency market, hoping for big profits in the current risk-taking climate of 2024. Looking at the data for certain alternative coins, some have already gained value, and more gains are expected. This suggests that a few of these coins might become the next cryptocurrencies to explode.
Next Cryptocurrency To Explode
Investors can capitalize on the moment and take a position in upcoming tokens like 99Bitcoins. The project aims to make a big comeback in Q3 2024, with a successful presale of its new 99BTC token and Learn-to-Earn platform. This post covers the details of its presale.
1. Monero (XMR)
In the XMR crypto chart, there’s been a tough fight between the bulls and the bears, which has caused a significant change in prices.
A few days back, the bears took over and set new lows and high points on the daily chart, creating a support level of $104.98. The XMR price stayed steady at around this level for a few days afterward. On April 13th, the Monero price increased from the $104.98 support level. This might show a bit of a challenge for the bears, hinting that bullish energy might be coming back.
Furthermore, the XMR cryptocurrency is getting backing from the moving averages on the daily chart, specifically the 20-day and 50-day Exponential Moving Averages. Moreover, the Relative Strength Index (RSI) supports the 14-SMA, which suggests a bullish crossover.
The price of XMR has reacted negatively, dropping by 0.53% since yesterday to $132.42. However, there has been a weekly increase of 7.57%, indicating that bullish activity may still be present in the market.
Hence, if demand for Monero rises, it could see a significant recovery from its current price. It could climb to $140.0 next and even higher to $150.0.
2. 99Bitcoins (99BTC)
Thanks to the excitement around 99Bitcoins’ BRC-20 crypto presale, the next big thing in cryptocurrency might be Learn-to-Earn. 99Bitcoins is preparing to make a big comeback in Q3 2024, with a successful presale of their new 99BTC token and Learn-to-Earn platform.
Over the past weekend, the presale reached incredible heights, raising over $1 million, with the current amount sitting at $1.13 million, quickly approaching its first big goal of $1.89 million.
If you’re wondering why the presale has been so successful, it’s because of the tremendous profit potential of the 99BTC token. 99Bitcoins currently offers one of the highest staking APY returns in the crypto world, with a current rate of +1,140% APY for early-bird presale investors.
When you invest in 99Bitcoins, you automatically stake your purchased tokens, allowing you to benefit from these high returns even before 99BTC is available on exchanges. But that’s just the start.
#Crypto exchange, @Kraken, forges a new partnership with DLT Finance in Germany to broaden its reach in Europe.
As the #SEC's actions stir regulatory debates, #Kraken's expansion aims to navigate uncertainties. 🌍#99Bitcoins #CryptoNews #BTC pic.twitter.com/ykDrhBtn2b
— 99Bitcoins (@99BitcoinsHQ) May 11, 2024
Besides being listed on various decentralized (DEX) and centralized (CEX) exchanges in Q3, which will likely increase its initial price, many experts think that 99BTC could reach a market cap of $100 million. While this might seem ambitious, looking at the education coin sector, which currently has a market cap of $390 million, suggests it’s achievable.
99Bitcoins focuses on learners, not teachers, by creating one of the first Learn-to-Earn platforms for new crypto users. Education should be rewarded, and that’s why 99Bitcoins is expected to see significant growth in the education sector in 2024.
Visit the 99Bitcoins Presale Here
3. Akash Network (AKT)
Akash Network has experienced notable growth, rising by 28.98% weekly. Despite minor ups and downs, its market cap has reached $1.3 billion, ranking it the 63rd largest cryptocurrency. In the past 24 hours, trading volume has surged by 16.55%, reaching $257.9 billion.
This positive trend for AKT involves surpassing a diagonal trendline in the 4-hour timeframe, suggesting a potential turnaround from its downward path and bullish market sentiment. To lock in these gains, AKT aims to maintain last week’s high of $5.095 as a critical support level to strengthen its market position.
AKT has outperformed the top 100 cryptocurrencies, marking a 2400% price increase year-to-date. While Bitcoin (BTC) and other major cryptocurrencies face price adjustments, Akash Network and its token are experiencing rapid growth.
Since its launch in September 2020, the Akash Mainnet has undergone significant upgrades to enhance its functionality. Research indicates that recent upgrades make Akash a leading player in cloud computing and artificial intelligence (AI) development. Mainnet 6 introduced support for GPUs and stable payments, establishing Akash as an open-source marketplace for high-density GPUs and a distributed cloud for large language models (LLM).
The open-source AI space is growing by the day.
Akash stands for permissionless access to compute — and welcomes all projects building towards a more open, self-sovereign future.
Check out @TryVenice for generative AI inference on the leading open-source models. https://t.co/QURAGrRmt1 pic.twitter.com/KQblXRGqyi
— Akash Network (@akashnet_) May 10, 2024
The token’s ability to break a diagonal trendline in the 4-hour timeframe is a key sign of its positive progress. This break suggests a potential reversal from the previous downward trend and the possibility of further bullish market sentiment for AKT.
Looking ahead, AKT focuses on maintaining last week’s high of $5.095 as a crucial support level. By holding this level, the token aims to consolidate its recent gains and cement its position in the market.
4. TRON (TRX)
TRON (TRX) focuses on entertainment in the decentralized web space. Its value increased by 81% in the past year, showing more interest. The total value locked on TRON has also been growing steadily, making it more useful for DeFi.
TRX is currently valued at $0.1268 and has a market cap of $11 billion, putting it in 13th place. It’s competing closely with Solana, indicating its potential to grow by five times and become a top cryptocurrency investment.
During the past week, TRX rose by more than 2.5%, going from $0.12 to its current value. Its highest-ever recorded price stands at $0.23. Recently, cryptocurrency markets have been volatile, with Tron’s performance standing out.
#TRONICS did you know? April demonstrated the growing potential of the #TRONNetwork. 👀
✅ Over 5.9M new addresses
✅ 227M+ unique addresses and counting#TRONICS never stop #BUIDLing! 💪 https://t.co/iPi9NDV8AC— TRON DAO (@trondao) May 10, 2024
Furthermore, TRX has surged past the $0.1220 resistance mark and is keeping pace with Bitcoin’s progress. Analysts are hopeful that TRX might exceed $0.1250.
TRX has held steady at $0.1180 and is now moving upward. Its strong performance above $0.120 has caught the eye of investors. TRX is anticipated to approach the $0.1250 mark soon. If it breaks through the resistance level, it could gain momentum towards $0.1275 and even $0.1320.
5. UMA (UMA)
UMA altcoin has experienced a significant increase in user interest lately, surging by over 51.13% in the past week. UMA aims to make global markets fairer and more accessible through decentralized financial contracts. Using Ethereum’s blockchain, UMA allows users to create various financial derivatives like futures contracts and synthetic tokens.
What makes UMA stand out is its innovative oracle system. This system verifies data without trust, which is crucial for blockchain industries like decentralized finance (DeFi) and Web3 applications. Unlike traditional oracles, UMA’s system relies on votes from token holders to resolve disputes, making it more secure and reliable.
Recently, the UMA project team posted about X, revealing the inclusion of oSnap by the Gitcoin DAO. They highlighted Gitcoin as an innovative platform for funding open-source projects.
The @gitcoin DAO has integrated oSnap.@gitcoin is a revolutionary crowdfunding platform for open source projects.
The integration empowers $GTC holders to vote on treasury distributions in @SnapshotLabs, and automatically execute approved transactions onchain from @safe. pic.twitter.com/57fDMEL8kr
— UMA 🥚 (@UMAprotocol) May 8, 2024
With this integration, $GTC holders can vote on treasury allocations in Snapshot Labs and execute approved transactions securely on-chain through Safe.
As traders keep an eye on its exciting price changes, the future market trends during this crypto excitement are uncertain.
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