Next Cryptocurrency to Explode Thursday, 14 September - Wall Street Memes, Hedera, THORChain

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In the early hours of Thursday, the global crypto market capitalization rose by 1.22% to $1.04 million over the last 24 hours. This demonstrates digital currencies’ continued resilience and appeal in the global financial landscape. As reported in our previous post, the market’s condition is also clearly different.

However, while the market capitalization has seen a positive uptick, the total cryptocurrency market volume over the same 24-hour period has slightly declined. With a total volume of $29.15 billion, there has been a 9.55% decrease in trading activity. The fluctuation indicates that investors may be momentarily holding back, possibly waiting for more favorable market conditions.

The decentralized finance sector remains active within the cryptocurrency ecosystem, with a total volume of $1.93 billion. This constitutes 6.64% of the entire cryptocurrency market’s 24-hour volume.

Interestingly, stablecoins have continued to dominate the market regarding trading volume. The combined volume of all stablecoins has now reached an impressive $27.19 billion, representing 93.27% of the total cryptocurrency market’s 24-hour trading activity.

Bitcoin saw a marginal decrease of 0.01% throughout the day. This indicates that, while Bitcoin remains a dominant force within the crypto landscape, other digital assets are steadily gaining ground and diversifying the market.

Next Cryptocurrency to Explode

Wall Street ended with a mixed performance on Wednesday, while US Treasuries traded within a narrow range. This was in response to data indicating that core inflation continued its gradual descent, solidifying the expectation that the Federal Reserve would maintain its current interest rates.

The S&P 500 saw modest gains, with particular strength in large-cap tech companies sensitive to interest rates, including Amazon and Microsoft. These companies propelled the tech-focused Nasdaq to outperform.

1. Wall Street Memes (WSM)

Wall Street Memes has been one of the year’s most lucrative presale launches. It has successfully secured over $29 million in funding thus far. The presale is scheduled to conclude by the end of September. Over the past three months, Wall Street Memes garnered considerable attention, and it’s certain to be the next cryptocurrency to explode.

These “aliens” aren’t interesting enough pic.twitter.com/YdYUn3J6pD

— Wall Street Memes (@wallstmemes) September 13, 2023

Another factor contributing to Wall Street Memes’ success has been the substantial investments made by prominent crypto ‘whales,’ who have acquired 553 ETH worth of $WSM tokens.

The Wall Street Memes presale has progressed at an impressive pace and is currently in its final phases, offering $WSM tokens for sale at $0.0337 per token.

The Wall Street Memes team has strongly emphasized fostering community engagement and empowerment as a central pillar of its mission. This commitment is evident through their decision to allocate 100% of the $WSM token supply to the Wall Street Memes community.

As detailed in the Wall Street Memes whitepaper, the team has opted not to retain any $WSM tokens for themselves. It has designated 30% of the total token supply for community rewards. These rewards are already in motion, and the team has launched an exciting airdrop campaign, offering $50,000 in $WSM tokens to be distributed among five fortunate participants.

Visit Wall Street Memes.

2. Hedera (HBAR)

Thursday morning saw the Hedera Hashgraph (HBAR) price continue its upward momentum. It drew attention from investors as the network successfully integrated Stablecoin Studio. The token surged to a peak of $0.052, marking its highest level since September 1st and establishing itself at the top of the gainers’ chart on CoinMarketCap.

Hedera Hashgraph’s ambition revolves around establishing itself as a leading provider of stablecoin technology. According to a statement from its developers, integrating Stablecoin Studio into the Hedera platform offers enterprises a comprehensive suite of tools to construct stablecoin applications.

Stablecoin Studio’s toolkit encompasses a range of features, including Oracle-based proof-of-reserve functionality, KYC/AML compliance tools, and integration tools for custody providers. Developers stand to benefit from Hedera Hashgraph’s impressive transaction speeds, which exceed 10,000 transactions per second (TPS), and its cost-effectiveness.

Companies like Shinhan Bank and Standard Bank have already begun utilizing this product. The Blockchain lead at Standard Bank expressed enthusiasm, stating, “Stablecoin Studio can significantly accelerate project development efforts, allowing us to benefit our customers more swiftly. As a governing council member, Standard Bank is thrilled to introduce this accelerator to our project teams.”

#TOKEN2049 | Join us at the #Hedera Booth P76 in 30 minutes (12PM SGT) next to the main stage where we’ll have a live, in-person demonstration of @Worldpay_Global by @FIS Proof-of-Reserve solution – building trust for merchant #stablecoin settlement using the Hedera, @hashport,… pic.twitter.com/j3bUOBx5wh

— Hedera (@hedera) September 14, 2023

The rising HBAR price triggered a substantial increase in open interest within the futures market. Data from CoinGlass indicates that open interest surged by 77% in the past 24 hours, reaching $30 million. Most of this interest stemmed from Binance, the world’s largest cryptocurrency exchange, contributing $14 million, followed by Bybit, BingX, and Bitget.

A closer look at the 4-hour chart reveals a bullish breakout for HBAR’s price over the past few days. It successfully transformed the critical resistance level at $0.047 into support, a significant achievement since this price level was the lowest recorded between September 2nd and 10th. As the price climbed, HBAR moved above both the 25-period and 50-period moving averages, and the Relative Strength Index (RSI) ventured into overbought territory.

3. THORChain (RUNE)

ThorChain ($RUNE) stands out as one of the most promising cryptocurrency investment opportunities, earning its reputation as a game-changer. This decentralized liquidity network has captured the crypto community’s attention and is widely regarded as one of the best cryptocurrencies to invest in.

What distinguishes ThorChain is its remarkable simplicity and efficiency. It is a trustless platform, allowing users to exchange assets across various blockchains without intermediaries effortlessly. This groundbreaking approach has unlocked many possibilities, granting users access to a broader range of assets while maintaining full control over their funds. When contemplating a long-term investment in cryptocurrency, ThorChain emerges as a compelling choice.

ThorChain introduces an innovative mechanism for liquidity provision, setting it apart in the crypto landscape. Users can earn rewards by contributing liquidity to the network, attracting a vibrant community of liquidity providers. This ensures ample liquidity and fuels the network’s expansion and stability, solidifying its position as a top cryptocurrency to acquire.

ThorChain has recently delivered impressive returns, generating over a 57% return on investment for investors in the last 30 days. This performance is particularly notable given the significant 93% price drop it experienced from its all-time high.

$RUNE is fully distributed.

The Active Reserve funds participation from Nodes and LPs (also Savers). The Standby Reserve is a backup to the Active.

Economic activity in the network rewards Nodes and LPs, as well as topping up the Reserve. https://t.co/viVZ8gFXJD

— THORChain (@THORChain) September 13, 2023

Market analysts speculate that ThorChain’s recent robust bullish momentum could signify the beginning of an extended uptrend for the coin. Expert analysis of the ThorChain chart indicates that the price of the RUNE token has broken through the $1.68 resistance level, and the overall price structure is now bullish.

These analysts believe ThorChain’s price will continue to rally and deliver a tenfold return for investors in 2023 if it successfully breaches and retests the $1.93 resistance level.

4. WOO Network (WOO)

WOO Network is a pivotal liquidity hub, bridging the divide among exchanges, institutional players, traders, and DeFi ecosystems. It grants them unprecedented access to top-tier liquidity.

Having launched at a conservative price of $0.12 earlier this year, WOO Network’s trajectory resembled that of a shooting star, soaring to $0.35. Nevertheless, the setback in the Bitcoin market curtailed upward movement; presently, the currency is trading at $0.15.

Financial analysts are harboring optimism for WOO Network, with speculations circulating that it could reach the $0.70 milestone by the close of 2023. However, achieving this would necessitate overcoming the significant resistance at $0.20.

$WOO takes center stage.

📅 From #ETHWarsaw to #KBW2023, check out what the $WOO team has been up to, along with numerous new developments from both @_WOO_X and @_WOOFi.

🧵👇 (1/12) pic.twitter.com/2fDDJKBU0K

— WOO (@WOO_ecosystem) September 10, 2023

Currently, the support for WOO Network rests at $0.12, with eager investors prepared to capitalize on any potential dips stemming from Bitcoin’s ongoing downtrend.

WOO Network’s fundamental tenet revolves around providing effortless access to top-notch liquidity, and it is fulfilling this mandate to the letter. It is gaining attention in DeFi as investors grasp its true potential. With its innovative spirit, there’s little doubt that it will continue its ascent shortly and become the next cryptocurrency to explode.