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The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to return to its all-time high of $70K, although it appears to be closing in on 60K. Investors need to stay alert during this consolidation phase, as it could be a chance to catch a ride on a rising trend.
Prices of various altcoins are already showing positive movements, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart investors anticipate a boom in the altcoin market and taking positions in upcoming tokens like the Crypto All-Stars. The project aims to revolutionize the meme coin space with its groundbreaking MemeVault Ecosystem. This post covers the details of its presale.
1. Dymension (DYM)
Dymension (DYM) is gaining attention for its innovative approach to standardizing rollups with the Inter-Blockchain Communication Protocol (IBC). This is similar to how ERC standardized tokens. Dymension’s RollApps offer a unified experience by combining the roll-up business model with speed and scalability. This positions DYM as a key player in creating an interconnected network of rollups.
Currently, DYM is showing positive signs as it challenges its descending trendline resistance. One analyst predicts that DYM could break out of its long downtrend with a potential medium-term gain of 350%. This makes it an attractive option for investors seeking significant returns.
3D Playground – New testnet is coming out soon
Get ready: https://t.co/iZzR4mbxyK
— Dymension (@dymension) September 5, 2024
The recent rise in DYM’s value can be attributed to its breakout from a symmetrical triangle pattern near the $1.42 mark. This type of breakout often signals the beginning of an uptrend. Since then, DYM has been steadily climbing and is nearing a resistance level of $1.76, representing a potential 22% gain from its current price.
The sentiment around DYM is bullish, despite a Fear & Greed Index reading of 45 (indicating fear). The daily trading volume has also surged by 311.70%, showing increased investor interest and optimism. With strong fundamentals and a supportive community, DYM has the potential to achieve even higher prices. If the project forms partnerships with other networks, its price could exceed $3.5 this year.
2. Axelar (AXL)
Axelar is gaining momentum in crypto, becoming a key player in secure cross-chain communication for Web3. The platform offers a decentralized network and a range of tools that make cross-chain interactions easier for decentralized app (dApp) developers. Axelar’s approach stands out because it uses proof-of-stake (PoS) consensus, unlike other projects that rely on optimistic models or federated multi-signatures.
Earlier this month, Axelar partnered with OpenZeppelin, a well-known name in the Ethereum Virtual Machine (EVM) ecosystem. This partnership aims to solve liquidity fragmentation and improve cross-chain interoperability for Web3 developers. It marks a big step in reshaping how dApps are developed and interact across different chains.
It IS possible to build Web3 apps that don’t suck. The technology is here – but …
What will they look like?
What goes into the underlying stack?
Where will value accrue?
Axelar protocol co-founder @sergey_nog breaks down the tech + use cases in a fresh blog 🧵⬇️ pic.twitter.com/pt5ExyxSuF
— Axelar Network (@axelar) September 15, 2024
The impact of this partnership was quickly reflected in AXL’s price. The token surged 8.79% in just 24 hours, reaching $0.549462. It also saw a 4.80% rise in the past day, supported by strong liquidity, as shown by its market cap-to-volume ratio of 0.0868. While the token’s 14-day RSI stands at a neutral 54.13, suggesting possible sideways movement, the overall trend remains positive.
Axelar’s long-term outlook is also promising. Currently, the token is trading 7.99% above its 200-day simple moving average (SMA), indicating strong upward momentum. Over the past year, AXL’s price has increased by 52%, outperforming over half of the top 100 cryptocurrencies. With manageable volatility at 9% in the last 30 days, Axelar’s steady growth is likely to continue, especially with the recent developments boosting investor confidence.
3. Crypto All-Stars (STARS)
Crypto All-Stars is a new project in the crypto world. It introduces multi-meme coin staking on a single platform, regardless of the blockchain. Investors can stake popular coins like Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, and more. The platform plans to add even more meme coins in the coming months.
This project is revitalizing the meme coin sector with its innovative feature, MemeVault, which is the first unified staking platform in the industry. MemeVault allows holders to stake various tokens, including $TURBO, Dogecoin ($DOGE), Shiba Inu ($SHIB), and possibly $NEIRO.
When investors stake tokens in MemeVault, they earn rewards in the project’s native token, $STARS. The value of $STARS increases as it functions as a rewards multiplier, enhancing returns based on the number of tokens held.
Moreover, $STARS has a staking pool that offers a staggering 1,140% annual percentage yield (APY). So far, over 645 million $STARS have been staked, showing strong investor interest. This project aligns with Binance’s recent meme coin listings and could play a role in a potential bull run in Q4 2024.
If Crypto All-Stars gets listed on Binance after the presale, its price could skyrocket, making the current price seem like a bargain. The next goal is to reach $1.5 million, with the right momentum, and possibly hit $2 million.
If you haven’t purchased $STARS yet, you can connect your wallet to the project’s website. You can exchange ETH, USDT, or BNB for $STARS or use meme coins like $FLOKI, $SHIB, $DOGE, and $PEPE. The platform also supports secure bank card payments through a user-friendly widget.
4. UXLINK (UXLINK)
On Monday, despite a general dip in the crypto market, UXLINK, the native token of a Web3 social media platform, defied the trend by surging over 100% in the past week. This strong performance stands out during a time of market decline. The main driver behind UXLINK’s rise was Binance’s announcement of its listing on the futures platform. This introduced a USD-margined perpetual contract for UXLINK/USDT with leverage of up to 75 times.
Traders continue to show enthusiasm today. UXLINK’s 24-hour trading volume jumped 134.79%, reaching $1.3 billion. Open interest in UXLINK futures contracts also increased to over $50 million. Additionally, derivative trading volume exceeded $895 million, showing a growing interest in spot and futures markets. Since its launch in July, UXLINK’s market capitalization has grown to $111 million, marking a 329% increase over the last month.
🫡After 2 months of our token #TGE, we would like to make a summary to community:
1. Registered users, ecosystem partnerships and project income hit a hew high.
2. #UXLINK Social Growth Layer is widely recognized by ecosystem and will start testing with partners.
3. List $UXLINK…— UXLINK (@UXLINKofficial) September 17, 2024
The price of UXLINK kept climbing, trading at $0.6537 with a 26.40% rise in the last 24 hours. Over the past week, the token has seen an impressive 190% increase. In May, UXLINK partnered with Binance’s Web3 Wallet to launch a campaign to increase user engagement. This campaign offered rewards like UXLINK airdrops and UXUY points, boosting platform visibility and attracting new users.
5. Nervos Network (CKB)
In the past 24 hours, Nervos Network (CKB) has emerged as the top performer, showing a strong 15.5% increase and trading at $0.0182. Nervos has outpaced the market’s recovery, even reaching a peak of $0.020. Throughout the past week, CKB also carried a premium on Upbit, with prices rising as high as $0.04 in Korean won.
Over the last week, CKB saw an impressive rally of more than 113%, with daily trading volumes doubling to nearly $600 million. CKB may be set for further growth despite its relatively low price, as its all-time high sits at just $0.036.
Nervos Network is a smaller project that blends native Layer 1 and Layer 2 modules. It began trading in 2020, entering the market alongside the rise of Layer 2 rollup solutions. Although it gained niche status and lower popularity, CKB became a top 100 token.
The network is also one of the few niche chains that can be mined, supported by major operations like F2Pool and Antpool. Mining remains relatively slow, with minimal influencer marketing, but the chain has grown on organic interest. The CKB token benefits from liquid listings on top exchanges, relying on centralized trading.
🌟 Introducing Fiber Network 🌠
🚀 A new lightning network on #Nervos #CKB tailored for speed, cost-efficiency, and decentralization! Fiber Network is a cutting-edge solution for multi-token payments and peer-to-peer transactions. 🧵
💥 Inspired by the Lightning Network, Fiber… pic.twitter.com/disRARmRD3
— CKB Eco Fund 🔜 Token 2049 🇸🇬 (@CKBEcoFund) September 11, 2024
Early analysis pointed out key resistance levels for CKB, and the token has followed this path closely. Today’s surge pushed CKB past the $0.017 resistance level, briefly hitting $0.02029 before pulling back slightly. CKB may see a correction in the short term, possibly revisiting $0.01725 due to profit-taking. However, if market momentum continues, a rebound could follow.
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