Join Our Telegram channel to stay up to date on breaking news coverage
Despite the massive upside of the current bull market, the volatility has not been very kind. The effect is evident in the recent price fluctuation of BTC, which has wiped out billions of dollars in long and short positions. Thus, investors are advised to make leveraged trades with utmost caution.
Alternatively, it’s best to identify and invest early in crypto tokens with the potential to become the next cryptocurrencies to explode. Some examples of these assets are domiciled in the altcoin market, and several upcoming projects are equally printing impressive performance.
Next Cryptocurrency To Explode
Regarding tokens with the potential to explode, investors should not limit their search to assets already listed on exchanges. Presale offerings like the Bitcoin Minetrix are viable projects to watch closely. The post provides insight into its presale offering and other essentials investors should know.
1. Maker (MKR)
MKR has finally settled for an uptrend after a protracted consolidation period. The token had one of the best performances in the market in the third and fourth quarters of last year when it recorded a nearly 100% price increase. It kept the pace in this bull market by adding over $200 to its price. However, the gains were marred by intense price fluctuations as the bulls and bears contended to determine the asset’s actual value.
Thankfully, MKR settled for an uptrend yesterday after it recorded over 20% price increase. The trend was sparked by the recent executive vote passed by the community. The vote allows the platform to review the stability fees charged on various collateral assets. With that, there’ll be up to 15% or even 17.25% increases in the fees charged on various assets within the Maker Protocol. Similarly, the APY on DAI Borrow would increase marginally.
Historically, there’s always been a price pump whenever projects or protocols review prices, fees, or APY. Thus, the chance of a continued uptrend for the MKR token is high. It might be in the best interest of traders and investors to include the asset in their portfolio.
The latest Executive Vote has just been approved.
As a result, the following changes will be implemented within the Maker Protocol on March 10, 2024, at 19:55 UTC.
• Stability Fees for various collateral assets, including ETH and WBTC vaults, will… pic.twitter.com/UNUejjv8iI
— Maker (@MakerDAO) March 8, 2024
Another trend that contributed to the increasing price of the MKR token is the move by the Maker DAO co-founder, Rune Christen. He recently swapped significant amounts of SHIB and LDO tokens for MKR. Apparently, the news may have impacted investors’ confidence in the token, which equally must have contributed to its surging price. Ultimately, as MKR approaches an all-time high value, it will likely become the next cryptocurrency to explode.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin halving is only approximately 37 days away. Investors familiar with price actions in this period would recognize that BTC is known for its aggressive pump in the months following its halving.
Thus, two sectors would benefit the most from the trend are the mining and DeFi sectors. Bitcoin Minetrix offers everyday investors and crypto enthusiasts the opportunity to participate in bitcoin mining without investment in prohibitive equipment and setups.
With the native cryptocurrency of the project, BTCMTX, anyone with as low as $10 can mine Bitcoin using its innovative technology. While this may appear unbelievable, existing projects provide such services. However, the Bitcoin Minetrix team seeks to address the flaws of this existing solution.
The initiative uses cloud computing technology to democratize Bitcoin mine. Consequently, anyone from anywhere worldwide with internet access can mine bitcoins. All it takes to participate in the decentralized mining initiative is holding the BTCMTX token.
Investors can purchase the token at a discounted price of $0.0139 due to the ongoing presale. The presale, which is in its stage 30, has given the platform $11.98 in funds. As it approaches its next milestone value, the discounted price will likely increase, and ultimately, upon exchange listing, the price may become many times that value. Hence, the opportunity to increase the potential ROI on holding the token is still open.
Visit the Bitcoin Minetrix Presale
3. Ronin (RON)
RON recently encountered a massive price decline following the overall pullback in the altcoin market. However, the 5% dump in the last 24 hours may not indicate that the RON rally is over. The market data from the token signals impending bullish sentiment and might make RON one of the next cryptocurrencies to explode.
Fundamentally, RON is the native token of one of the fastest-growing gaming EVM in the market. As the desire for more utility-based cryptocurrencies increases among investors, RON is gradually gaining a reputation as a crypto to watch. In the last 52 weeks, RON has amassed a 490% increase in value, placing it among the top gainers.
As the bull market continues pushing many tokens towards their peak prices, RON also shares in the trend, posting over 27% increase in the last seven days. From its chart, for the first time since its launch, the token is trading at a higher value than its opening price at launch. The price action indicates that there’ll likely be increased investor confidence in the coming weeks, and the market recovery may lead to further bullish momentum for RON.
Nevertheless, there’s a need to take adequate precautions when using the token, as there is a likelihood of further reversal in the short term. The RON RSI reading is currently 66, meaning the token is overvalued. Hence, further technical analysis is needed to identify the best entry price.
4. Arkham (ARKM)
The Sam Altman-backed project Arkham may be the next cryptocurrency to explode. There’s been a remarkable increase in AI-based crypto projects. This growing trend is due mainly to investors’ interest in DePIN trends. Many of these upcoming projects are projected to replace mega tech companies like Google and Amazon in the future.
Arkham, for example, is an AI-based blockchain analysis platform. The core value proposition of the platform is its ability to deanonymize blockchain and on-chain data. This ability is quite ahead of its time, as the sole purpose of blockchain and crypto is to increase anonymity. However, as blockchain technology adoption increases, the need for a network like Arkham will increase dramatically.
Study AI-powered entity clustering and deanonymization.
Arkham. pic.twitter.com/x47wUPqy3V
— Arkham (@ArkhamIntel) March 9, 2024
At the time of writing, the price of Arkham fluctuates between $3 and is mostly declining, which presents an opportunity for investors to hold a sizable volume of the token. One exciting data to note in today’s ARKM price action is that while the asset’s price has been dumping, its trading volume has risen.
Presently, the trading volume of ARKM is up by over 50%. It signals growing interest in the token and might trigger a fresh round of bullish momentum in the short term. However, in the long run, the ARKM network has the potential to become a strong player in the next iteration of the crypto AI sector.
Read More
Join Our Telegram channel to stay up to date on breaking news coverage
