Next Cryptocurrency to Explode Thursday 12 October - TG.Casino, Loom Network, Frax Share

Join Our Telegram channel to stay up to date on breaking news coverage

The global crypto market capitalization took a further dip on Thursday. It lost 0.61% in the last 24 hours, while its value now stands at $1.05 trillion. The decline rate does not deter investors seeking the next cryptocurrency to explode.

In the past 24 hours, the market’s trading volume reached $25.36 billion to show a 1.01% decrease. Notably, the decentralized finance sector contributed $1.89 billion to this 24-hour volume, representing 7.46% of the market activity. Meanwhile, stablecoins contributed $23.91 billion in the same period. They accounted for 94.29% of the market’s trading activity.

Bitcoin’s dominance currently stands at 49.86%, showing a decrease of 0.21% over the day.

On the stock market scene, Asian markets saw gains on Thursday, driven by the belief that US interest rates have peaked following more dovish statements from Federal Reserve officials. Investors remained on edge, eagerly anticipating the release of the US consumer inflation report later in the day, which is expected to provide additional insights into future monetary policy decisions.

In the previous session, Wall Street concluded with positive momentum following the release of Federal Reserve meeting minutes that revealed an increasing level of uncertainty regarding the trajectory of the US economy. Concerns over volatile economic data and tightening financial conditions posed potential threats to economic growth, prompting policymakers to extend the current rate pause that has been in effect for the past month.

Next Cryptocurrency to Explode

Federal Reserve Governor Christopher Waller emphasized on Wednesday that higher market interest rates could assist in curbing inflation. He suggested a “watch and see” approach to assess whether the central bank’s policy rate needs further adjustment.

While the US Dollar remained near a two-week low, the Japanese Yen continued to face pressure, hovering at 149.09/Dollar. It stands just shy of the critical 150 level, which could trigger intervention from Japanese authorities.

1. Loom Network (LOOM)

In the past seven days, the native token of the Loom Network, LOOM, has seen a remarkable price increase of 64.02%. In the last 24 hours alone, the price experienced a significant uptick of 11.49%. The price currently stands at $0.21, representing a substantial 72.63% decline from its all-time high of $0.84. Nevertheless, the recent advance will take it closer to the old mark as it becomes the next cryptocurrency to explode.

Loom Network boasts a circulating supply of 1,219,425,697.579 LOOM tokens and is recognized as a multichain interoperability platform. Its primary goal is to facilitate the seamless exchange of data and information across different blockchains. The platform is engineered for the scalability of high-performance decentralized applications, emphasizing a quick and user-friendly experience.

One of its unique features is the ability for DApps to offer a user experience similar to traditional apps, eliminating the need for users to download cryptocurrency wallet software. Loom Network also provides integrations with prominent blockchains such as Ethereum, Bitcoin, Tron, and Binance Chain. This enables developers to build a DApp once and make it accessible to users on multiple platforms simultaneously. This approach equips developers with the scalability and usability required for the development of high-performance, user-centric DApps.

We've just published a new quick start tutorial for the zkLoom Testnet!

Check it out and let us know what you think 🙂https://t.co/0qsO6DOoBu

Please drop by our dev chat on Telegram https://t.co/0xFeMA13WE if you have any feedback or get stuck ⁉️

— Loom Network (@loomnetwork) September 5, 2023

The LOOM token is an ERC-20 token. It serves as the proof-of-stake (PoS) token responsible for securing the platform’s mainnet, known as Basechain. LOOM tokens are utilized for staking, transaction fees, and bonding. Holders of LOOM tokens can stake them to assist in securing Basechain and earn rewards. Additionally, developers use LOOM tokens to cover the costs of DApp hosting on Loom Network, while validators receive LOOM as block rewards for their contributions to the platform. LOOM tokens are compatible with any ERC-20 wallet.

Loom Network has been in live production since early 2018, and the total supply of LOOM tokens is fixed at one billion. It’s important to note that Loom Network has deployed a new LOOM token contract on the Ethereum Mainnet, which maintains the same LOOM symbol as the previous token contract and has a total token supply of one billion.

2. Frax Share (FXS)

In the past week, the price of Frax Share (FXS) experienced a modest decline of 2.07%. However, in the most recent hour, it showed a slight uptick of 1.99%, bringing the current price to $5.55. The recent price surge pushes FXS toward new levels as the next cryptocurrency to explode.

Frax Share (FXS) is associated with the FRAX protocol, the first stablecoin system developed on a fractional algorithm. This open-source and permissionless cryptocurrency operates on the Ethereum blockchain and other blockchains. The FRAX protocol aims to create a highly scalable, decentralized, algorithmic currency that can act as a substitute for fixed-supply digital assets like Bitcoin.

FRAX, the stablecoin issued by the FRAX protocol, employs a “fractional-algorithmic” stability mechanism. It combines collateral-backed and algorithmic supply management. The system is community-governed and operates autonomously, requiring no active oversight.

FXS, as the governance token, generates fees, tax revenue, and additional collateral value. The FXS supply is designed to deflate as long as the demand for FRAX increases. As the value of FXS rises, the system’s ability to maintain FRAX stability also increases, creating a symbiotic relationship between demand for FRAX and the value of FXS. Approximately 60% of all FXS tokens are allocated to various yield farms, liquidity rewards, exclusive initiatives, and governance, with the remaining portion distributed among staff and investors.

The redemption process for FRAX is straightforward, efficient, and cost-effective. During the 100 percent phase, minting and burning FXS tokens is used to manage FRAX supply. Minting involves creating and validating new data on the blockchain, while burning is the process of reducing the number of tokens in circulation.

A long-term goal of FRAX is to establish the FRAX Price Index (FPI), a crypto-native version of the Consumer Price Index (CPI), managed by FXS token holders, providing a reliable measure of price stability within the crypto ecosystem.

3. Gala (GALA)

Just within the last 24 hours, Gala Coin was trading at $0.01313, experiencing an intraday decline of 2.54%, and had a trading volume of $32.33 million. According to Tradingview data, GALA had lost 14.94% of its trading value in a week and over 45% in a quarter.

The MACD and signal line were both below the zero line in negative territory, and the bears were gradually regaining their positions. However, the RSI indicated bearish sentiment, and if the bears continued to dominate, a decline in the trading price was expected.

The Walking Dead: Empires | October 2023 Update and AMA! https://t.co/VLktEZDNEu

— Gala Games (@GoGalaGames) October 12, 2023

But the asset has staged a recovery in the past few hours. GALA has so far risen by 4.70% to $0.01359 to renew hopes for traders. With the rate of its bounce back, GALA gains the status of the next cryptocurrency to explode.

3. TG.Casino (TGC)

TG.Casino has embraced the burgeoning crypto casino model, and it is allowing users to start their gaming experience within seconds directly from the Telegram app, all without the hassle of creating an account.

The concept of account-free crypto gambling offers more than just convenience; it also prioritizes user privacy. With this approach, you can avoid any potential complications with credit providers, as there won’t be gambling-related transactions on your bank statements. Additionally, it eliminates the risk of identity fraud, as sensitive information is not stored on the platform’s servers.

Moreover, launching on Telegram means the project benefits from end-to-end encryption, offering a secure environment for its one billion users and granting them unrestricted access to the platform across the globe.

TGC is now playable & fully integrated into https://t.co/1CivTnIx4Z.

𝟮𝟱% 𝗰𝗮𝘀𝗵𝗯𝗮𝗰𝗸 on losses when wagering with $TGC.

Join our Telegram for more info, details in bio. pic.twitter.com/qRESdVJyBP

— TG Casino (@TGCasino_) October 11, 2023

For those contemplating participation in the presale, TG.Casino offers substantial incentives. Investors who take action today can secure tokens at the lowest-ever presale price of just $0.125 per token. It’s important to note that this favorable pricing will only last for a while, as the current round is already 69% sold out.

Furthermore, presale investors will enjoy exclusive rewards once the project goes live. This includes discounts, access to dedicated rooms and games, and the opportunity to initiate staking during the presale, allowing for the compounding of gains from the outset.

Notably, the TG.Casino staking pool presently boasts an impressive 708% annual percentage yield (APY). It’s expected that this APY will decrease over time, making it particularly advantageous for early participants looking to maximize their returns.

Lastly, those who invest over $5,000 in the presale will earn the prestigious “high roller” title, along with additional exclusive rewards and the opportunity to acquire a rare TG.Casino NFT.

The presale has raised over $790,000 in an accelerated pace to announce TGC as the next cryptocurrency to explode.

Visit TG.Casino.