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Analysts have deliberated on the anticipated crypto bull run in 2024, indicating a potential inclination toward altcoins. While acknowledging the possibility of Bitcoin seeing substantial price increases, experts are optimistic that 2024 offers more favorable conditions for the altcoin market. This article analyses the strategies employed by some prospective coins, outlining the distinct factors driving the growth of these tokens.
Next Cryptocurrency To Explode
Prominent tokens and the reason behind their significant shift are carefully examined in this article. Sponge V2, for instance, has witnessed considerable expansion, boasting an impressive stake of over 6 billion tokens. In a parallel development, Telos recently inaugurated the Telos Community Hub, while Bitget Token adopted advanced Multi-Party Computation (MPC) technology to enhance wallet functionality.
1. Bitget Token (BGB)
Bitget has reinforced its commitment to user security by implementing advanced Multi-Party Computation (MPC) technology for wallet enhancement. The platform has upgraded all user wallet addresses to MPC addresses. Furthermore, this implementation integrates cutting-edge technologies like the Threshold Signature Scheme (TSS) and Trusted Execution Environment (TEE).
This move follows Bitget’s previous efforts to bolster security through the MPC upgrade, introducing users to the advantages of modern cryptographic technologies. The MPC Wallet provides users with enhanced protection layers to safeguard their digital assets. Moreover, Bitget Token is valued at $0.5892, showing a minor intraday decrease of 0.37%.
Despite this, the token has demonstrated resilience, exhibiting a 0.48% increase in the last month. Furthermore, Bitget Token achieved its highest price on December 19, 2023, reaching an all-time high of $0.699781. However, its lowest price was recorded on June 25, 2020, at $0.014496.
Like #Messi, we believe incremental improvements are the only secret to success.
Bitget continuously provides smarter #crypto solutions for everyone #MakeItCount.
👉https://t.co/CS9J9pkq7o #BitgetxMessi #Bitget pic.twitter.com/l7Qxga0QEo
— Bitget (@bitgetglobal) January 23, 2024
Since the all-time high, the lowest price dipped to $0.570852, while the highest reached $0.597471. In addition, market sentiment favors a bullish outlook, with the Fear & Greed Index at 54 (Neutral). The circulating supply of Bitget Token is 1.40 billion BGB out of a maximum supply of 2.00 billion.
The yearly supply inflation rate is 180.00%, creating 900.00 million BGB last year. Also, the token demonstrated an impressive 182% price increase last year, outperforming 82% of the top 100 crypto assets. Trading above the 200-day simple moving average, Bitget Token is positioned near its cycle high, indicating a positive market trend.
2. ZKFair (ZKF)
ZKFair has seen a significant surge in its value this week, marking a 4.00% increase in price. The recent unveiling of the ZKFair Launchpool via social media has garnered attention. This innovative Launchpool aims to thoughtfully identify promising projects and introduce them to a broader audience using a 100% fair token distribution method.
The primary goal of the ZKFair Launchpool is to foster inclusivity and fairness within the community. This provides impartial opportunities for members to engage in the early stages of project development. Furthermore, the ZKFair Launchpool strengthens the community and accelerates transparent and equitable growth of projects.
Over 110,000,000 $ZKF have already participated. Looking forward to @FairStakeHQ's future development! https://t.co/EjL5ZBUnni
— ZKFair Community (@ZKFCommunity) January 25, 2024
In addition, ZKFair’s price prediction currently stands neutral, and the Fear & Greed Index registers at 54, indicating a neutral sentiment as well. The commitment of ZKFair Launchpool to fair token distribution underscores its dedication to building a transparent ecosystem. Incorporating ZKF holders, ZKF stakers, and .zkf domain owners into the airdrop process reflects a comprehensive approach to community involvement.
3. Sponge V2 (SPONGEV2)
Sponge V2 is the updated version of the $SPONGE meme coin. The token has experienced substantial growth, with over 6 billion $SPONGE tokens currently staked, totaling a value of $3,554,317.15. Moreover, the project has witnessed a remarkable surge in market capitalization, escalating from $1 million to $100 million.
The key strategic move for Sponge V2 is implementing the Stake-to-Bridge model, simplifying the transition for $SPONGE holders to V2. Users can stake their V1 tokens with a minimum annual percentage yield (APY) of +250%. Furthermore, this loyalty reward system aims to ensure a seamless migration for token holders, fostering a sense of continuity and commitment.
In addition to the innovative staking model, Sponge V2 has introduced a Play-to-Earn (P2E) game in free and premium versions. This interactive game enables players to earn V2 tokens, enhancing the project’s utility and user engagement.
Sponge V2 has allocated a portion of its 150 billion token supply for staking rewards, highlighting a commitment to incentivize users transparently. This approach is pivotal in building credibility and trust within the community.
Huge milestone alert, #SPONGERS! 🔥
There are now over 6 billion $SPONGE tokens staked with a value of $3,958,206.14! 🤯
Our holders are enjoying an impressive current APY of +250%. 🚀
Join us and absorb the damp!! 🧽🧽💦💦#SpongeV2 #Crypto #Web3 #Alts #100x pic.twitter.com/llxFF0hfby
— $SPONGE (@spongeoneth) January 26, 2024
With a total token supply of 150 billion, Sponge V2 strongly focuses on community engagement and user rewards. Moreover, 8% of the token supply is dedicated to the Play-to-Earn gaming aspect, providing an avenue for active community participation and enhancing overall token utility.
The evolution of SPONGEV2 underscores its dedication to delivering a strategic and user-friendly platform. The Stake-to-Bridge model and the introduction of the Play-to-Earn game mark significant steps in the project’s development and user engagement.
4. Telos (TLOS)
Telos has demonstrated an upward trajectory in the past week, registering a gain exceeding 2.63%. This positive momentum is accompanied by a notable surge in trading volume, amounting to an increase of $1,452,442 million. This surge is exerting pressure on its current price and implies a potential for further growth.
A significant development contributing to Telos’s recent performance is the soft launch of the Telos Community Hub. This strategic initiative aims to broaden the community base while offering meaningful rewards to its active and devoted users.
Furthermore, Telos’s overall performance in the past year has been commendable, with a substantial 47.44% increase in price. The token is positioned ahead of 64% of the top 100 tokens in the market. The current circulating supply is 375.57 million TLOS out of a maximum supply of 420.00 million.
Telos Evolved 03: Marketing for a Global Community https://t.co/rzj4esvDAd
— The Telos Foundation (@HelloTelos) January 25, 2024
In addition, the token has experienced 15 positive trading days, constituting 50% of the observed period. Also, the project boasts high liquidity, which is evident in its market capitalization. The Telos price prediction sentiment leans towards bullish, aligning with a neutral reading of 54 on the Fear & Greed Index.
Furthermore, Telos is trading above its 200-day simple moving average, indicating a favorable market position. However, investors should know that Telos is presently down by -86% from its all-time high. In summary, the collective indicators suggest a positive market outlook for Telos. Investors are advised to include Telos in their watchlist as a cryptocurrency with growth potential.
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