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There’s been an overall downturn in the market as major cryptocurrencies are currently recording a price decline. Over the past 48 hours, BTC has lost a significant part of its recent gains, with its price falling from a high of $73k to $67k. While many investors consider it an opportunity to buy the dip, others view it as an indication that the funds are about to rotate into altcoins.
Indeed, there’s been a surge in the prices of altcoins in the last 24 hours. Many of the tokens on the gainers list today post as much as double-digit gains. Hence, the search for the next cryptocurrencies to explore is rising.
Next Cryptocurrency To Explode
To help investors narrow their search, we’ve compiled a list of the top-performing cryptocurrencies today. Similarly, the overview of the upcoming crypto project, Green Bitcoin, is captured in the post. The project holds promising prospects, and the post shares everything about its presale offering.
1. Synthetix (SNX)
Synthetix is another DeFi asset to watch in the coming week. The token recently recorded a massive surge following Uniswap’s governance policy update. Its 25% price increase amplified the prospect of SNX in this bull market. Thus, Investors should take note of SNX as it might exhibit remarkable price actions in the coming weeks, particularly as the market anticipates the halving month.
At the time of writing, SNX fluctuates between price consolidation and decline. The token trades close to its $4 – $5 resistance zone, which has kept investors on the sideline. Nevertheless, the technical analysis applied to the SNX chart shows that long-term token holders still hold on to their assets.
Also, short-term EMA indicates that new buyers are purchasing more coins at the current price, and the demand for tokens increases with the increasing cost. The trend is validated by SNX price, which trades at a much higher value than its 10-day and 20-day EMA and SMA.
However, the $3 range support may provide the momentum SNX needs to continue its climb above the $4 price. Above that range, there’s minimal resistance to force SNX into a retrace, meaning it has a runway to the $7 – $8 range. Also, the ongoing token burn would likely force the value to increase as the circulating supply decreases.
Another week, another $1.12M burned in fees!
Synthetix Perps on @Optimism comprised 80% of all weekly fees, with the other 20% consisting of L1 spot synths & L1 loan paydown.
This week's $1.12M in sUSD went to $SNX stakers, reducing debt. pic.twitter.com/hxn7izJLst
— Synthetix ⚔️ (@synthetix_io) March 14, 2024
Above all, it is best to research the token further, particularly as the market is moving away from DeFi 1.0 and DePIN is taking over as the sector of interest.
2. Aave (AAVE)
The DeFi sector may be returning to take its place as the investors delight as assets in the sector are witnessing price surges. In the last 24 hours, there’s been an overall increase of 5% in the trading volume of assets in the sector.
AAVE is one of the best-performing crypto assets in the sector. It recently experienced a price surge that raised its price by over 20% and has since settled for a relatively sideways trend. The trend is an accumulation period, given that the interest in DeFi assets is rising.
Hence, there is a high likelihood that the price of AAVE will surge further in the coming week. Moreover, the MACD reading from the AAVE chart shows that there is still room for more bullish price action.
Also, there’s been a dramatic reduction in the asset’s RSI reading. It recently declined to 71. The downward trend in its RSI reading shows that the token is gradually attaining its true value. With that, we might see a return to an uptrend.
Similarly, AAVE has a few key resistances to fight off on its path to the top. As soon as it finds support in its ongoing retracement, the probability of breaking above the $156 – $160 price range is quite high.
It is best to watch the AVAX trends as it is poised to become one of the next cryptocurrencies to explode. In addition, its extensive use in flash loans makes it one of the best cryptocurrencies for long-term strategies.
3. Conflux (CFX)
Conflux has dashed investors’ hopes, which has drained investors’ interest in the asset. Last year, the platform’s partnership with China Telecom to create a blockchain-based SIM card in China raised crypto investors’ expectations for CFX. However, the failure of the project to reach its potential and China’s strict crypto regulation have forced the token to its knees.
Nevertheless, CFX is currently eyeing the upside as the bull market helps it roar back to life. Over the past seven days, there’s been an increase of over 39% in CFX price. The trend shows investors’ growing interest in the price, and it could also induce a steady rise in the demand for the CFX token.
The sudden surge in the asset price may be traced to the recent upgrade to the network. Also, there’s been an increase in the partnership between the platform and others in the industry. Moreover, the crypto laws in the Asian continent are being reviewed and becoming more welcoming to cryptocurrency projects. Hence, assets like Conflux are gradually gaining popularity.
📣 Conflux v2.3.5-test net Upgrade Announcement!
This update is essential for enhancing the performance and reliability of your nodes.
Key Enhancements in v2.3.5:
🔹 Bug fixes for compatibility issues, enabling archive nodes to sync properly.
🔹 Resolution of a transaction…
— Conflux Network Official (@Conflux_Network) March 12, 2024
Ultimately, CFX might record further increases in the coming months. One edge it has over many other assets in the market is its dominance in the Asian continent. As the market becomes receptive to cryptocurrencies, the potential of the CFX will unfold.
4. Green Bitcoins (GBTC)
It has been a fascinating ride for the Green Bitcoin community, and the team is contemplating an exchange listing announcement. While investors await the listing update, there is still room to purchase more of the token at a discount as the presale offering is live.
At the time of writing, the project has raised over $5 million towards the hard cap target of $7 million. Surprisingly, the recent surge in funds inflow towards the presale occurred quickly. The new development reveals that the overall shift of investors’ interest towards altcoins is reflected in presale cryptocurrencies.
As the crypto market gears up for another phase of the bull run, it’s essential to take note of assets like the GBTC, designed to tap into the halving wave and ride to the peak. The performance of tokens like the BOME shows that the crypto market favors newly launched assets with the potential for explosive growth.
With a record breaking day yesterday, and listing announcements around the corner, the time is NOW for Green Bitcoin! pic.twitter.com/V4rG231djX
— GreenBitcoin (@GreenBTCtoken) March 16, 2024
With the staking intuitive and extensive utility in place, GBTC is poised to have a good start as it goes on exchanges. Combining the narrative of Bitcoin and the robust utility and efficiency of Ethereum also gives Green Bitcoin a story that resonates with the Crypto community.
Hence, as the narrative of a more efficient cryptocurrency platform becomes widespread, its resultant effect would be a growing adoption of the underlying token, the GBTC. More details on the project overview, tokenomics, and presale activities are contained on its presale page.
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