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Achieving good returns in a strong market involves monitoring the top cryptocurrencies and preparing Altcoins for growth. Yet, spotting the next prominent cryptocurrency can be challenging because many investors focus on already popular assets.
This article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
Today’s analysis details the performance of the cryptos that investors should add to their watchlist. It also includes a special mention of Sealana, a Solana meme coin that introduces a “send-to-wallet” feature alongside a traditional “Buy Now” widget to accommodate different investor preferences. The details of its presale and the performance of the top-performing crypto today are shared below.
1. Akash Network (AKT)
Akash Network is reshaping cloud computing and gaining attention. UpBit recently added Big Time and Akash Network to its trading list. This move caused AKT’s price to jump by 64%.
There have been some significant updates for Akash Network lately. AKT started trading on Coinbase on March 18. Also, last week, Akash introduced Llama 3 70B to its network, described as a powerful AI model.
As a result, Akash Network saw a positive response, with a 12.12% increase in the last 24 hours, trading at $4.85 currently. The token’s price surged, establishing $4.8 as a solid support level after being a resistance point historically. This surge coincided with Upbit’s listing of AKT, stirring up trading activity and investor interest.
However, AKT’s price rose suddenly, from $3.0082 to $4.4. This rapid increase led to a price correction, stabilizing AKT around $4.09. Some analysts anticipate further correction to previous levels.
Akash provides permissionless access to a wide range of compute resources at extremely competitive pricing.
As the general awareness of Akash grows, there are many emerging dynamics that uniquely position the network to bring compute resources to market and serve users around… https://t.co/1dL9SrUDqU
— Akash Network (@akashnet_) April 30, 2024
Traders are now analyzing technical indicators. For instance, the Relative Strength Index (RSI) hit 97.77, showing overbought conditions, then dropped to 72.95. Despite the declining RSI, which indicates profit-taking, the wide Bollinger bands suggest a bullish trend. Traders might consider buying AKT during dips, potentially pushing its price back up or maintaining it above $4.
2. Sealana (SEAL)
The latest sensation in meme coins is Sealana (SEAL). Its presale began on May 1 on Solana. This new coin brings a unique twist to the meme coin world, filled with tokens featuring dogs, cats, frogs, and sloths.
What sets Sealana apart is its funny story about a trading seal. This humorous and relatable theme has been vital to its successful launch. Sealana has kicked off its presale on a strong note, raising over $100,000 within hours of going live. This rapid start suggests that the presale might finish sooner than expected due to the high traffic.
The strength of Sealana lies in its unique and relatable story. It combines popular trends like integrating with Solana and sending coins directly to wallets while staying true to its original and amusing theme.
Furthermore, the Solana meme coin introduces a “send-to-wallet” feature alongside a traditional “Buy Now” widget to accommodate different investor preferences. Sealana ($SEAL) debuts around the anniversary of the Pepe Coin surge, which might not be a mere coincidence. We believe that Sealana has the potential to replicate the success Pepe Coin achieved in 2023 and become the next meme coin to generate significant returns for investors.
A huge error occurred on the day Slerf Token was scheduled to launch, leading to the accidental burning of 10 million SLERF coins. Despite this setback, the coin experienced considerable success.
However, rumors are circulating that the creators intend to relaunch without repeating the mistake. This implies that Sealana could match and even surpass the peak reached by Slerf Token and become one of the upcoming cryptocurrencies to explode.
3. Algorand (ALGO)
Algorand uses a special agreement method called pure proof-of-stake (PPoS). Unlike some other blockchains, Algorand’s staking is straightforward. When adding a new block, users get rewards based on their stake. So, anyone with ALGO can help confirm transactions and make the network secure. Plus, this lowers the chance of hard forks.
Like Bitcoin, you can use ALGO for peer-to-peer transactions, but faster. Transactions are completed within seconds after being added to a block.
Algorand stands out due to its adaptability. In addition to regular transactions, individuals can generate unique assets on the Algorand blockchain. This functionality enables tokenizing tangible assets or creating tokenized securities through Algorand Standard Assets (ASAs), broadening Algorand’s usefulness beyond being a basic digital currency.
The Algorand Q1 2024 @MessariCrypto report just dropped!
Highlights:
🟢 403 million transactions were processed in Q1, a 288% increase QoQ
🟢 Revenue grew by 1,747% QoQ
🟢 DeFi TVL rose by 9%, largely driven by @AlgoRai_finance & @tinymanorgRead the full report 👇…
— Algorand Foundation 🐍 (@AlgoFoundation) May 3, 2024
Algorand (ALGO) has stabilized after a recent significant decline. However, whether this stability indicates a good investment opportunity is a topic of debate, even among professionals.
4. Avalanche (AVAX)
Avalanche has been gaining attention lately due to its expanding ecosystem. Unlike Ethereum, it focuses on speed, scalability, and security. What makes Avalanche unique is its three-blockchain system, each with its own role. This design allows Avalanche to handle around 4,500 transactions per second and process transactions in less than two seconds.
Currently, the price of Avalanche’s altcoin is $36.77, which is below its highest value of $144.96, suggesting growth potential.
Investor confidence in Avalanche (AVAX) has been rising recently, particularly in the short term. Its price has been surpassing its long-term average, indicating increased trading activity. The significant increase in the token’s value over the past six months highlights a positive outlook among traders.
Despite a recent decrease in activity, the Avalanche network’s core strengths, like fast transactions and low fees, could continue to generate optimism and attract more interest in AVAX.
Stripe’s fiat-to-crypto onramp is a customizable widget that can be embedded into a variety of dApps, such as DEXs, NFT platforms, and wallets like @coreapp 🤝@stripe's integration provides a direct way to easily and quickly fund a wallet with $AVAX to get started on Avalanche! pic.twitter.com/h7A7Q1B44s
— Avalanche 🔺 (@avax) May 3, 2024
In recent updates, Avalanche has partnered with Stripe, a major player in financial technology, to make using the blockchain easier. With this collaboration, AVAX users can buy and deposit tokens through various channels on the Avalanche network. This partnership includes CORE, a wallet based on Avalanche, which lets users add money to their wallets using debit or credit cards and ACH.
Additionally, Stripe has added its onramp widget for converting fiat currency to cryptocurrency on Avalanche (AVAX) dApps. This means that customers in the US can easily use NFT platforms, decentralized exchanges, and other Web3 wallets. Moreover, this integration allows Stripe users to buy AVAX tokens directly without exchanging them for the transaction.
5. Helium (HNT)
Despite a slight dip a few days back, Helium’s market cap remains steady at $859,629,600, showing strong trust from investors. With 160,875,442 HNT in circulation, Helium’s recent performance signals a renewed interest in its technology and network.
The Helium ecosystem boasts over 180,000 active wallets. These wallets engage in Helium-related tasks and connect with decentralized applications (dApps) on the Solana blockchain. This shows that Helium serves purposes beyond its primary one.
Helium’s success signals increasing interest in blockchain solutions for IoT. Its growth in network and liquidity measures sets it apart as a major player in the cryptocurrency sector. This showcases real-world applications of blockchain technology.
📱Introducing Helium Mobile Group Plans! Now, up to 8 friends or family members can enjoy unlimited data, talk, and text for only $20 each per month. 📞💬 No data sharing, no contracts, just savings. Perfect for friends and groups!
💡Make sure to update your Helium Mobile app to… pic.twitter.com/geH2vJqarO
— Helium Mobile (@helium_mobile) May 2, 2024
Just yesterday, Helium (HNT) climbed second among the week’s top gainers, boasting a significant price jump of 29.68%. Currently trading at $5.34, Helium saw a surge in trading volume, hitting $16,830,658 in just 24 hours.
Though bulls struggle to surpass the $6 resistance mark, they maintain optimism. At the time of writing, HNT is trading at $5.6, marking a 33% increase from the previous day. With the 20-day EMA rising to $5.4 and a positive RSI, there’s potential for growth, with targets set at $6.4 and $11.2. If the bulls gain momentum, HNT will likely become one of the next cryptos to explode.
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