Next Cryptocurrency to Explode Thursday 27 July - Wall Street Memes, Synthetix, Stellar

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The US Federal Reserve finally raised rates again on Wednesday. The Reserve raised rates by the expected 25 basis points. After the announcement was made, the Feds also left room for further rate hikes this year.

The rate hike on Wednesday became the 11th one since March last year. The Reserve agreed unanimously that future rate hikes will be contingent on the effect of previous ones and how stable the economy becomes.

Many investors, rather, want to bet that the Federal Reserve has come to the end of its rate hike cycle. On that note, stocks across the globe rose on Thursday while the US dollar slid. While the market is digesting the decision from the US, it now expects the decision of the European Central Bank later on Thursday. A 25 basis points rate increase is also expected from the ECB.

The crypto market capitalization only rose by 0.95% in the last 24 hours. It was initially expected that the crypto would react sharply to the Feds rate hike but that hasn’t happened yet. It may be going through a gradual build-up. The ECB’s announcement is also another factor that could tip the market.

The Next Cryptocurrency To Explode

The market gained higher in the last 24 hours than the 24 hours before it as reported in our previous next cryptocurrency to explode post. There are also more gainers on CoinMarketCap’s gainers list.

If investors are waiting for the ECB’s policy direction is not clear. But there was a higher trading volume of 16.51%.

1. Wall Street Memes (WSM)

Investors are currently flocking to Wall Street Memes’ presale to buy it out. The project has now crossed $18 million in an astonishing race almost never seen before. Wall Street Memes is, therefore, one of the most popular presales of 2023 and the next cryptocurrency to explode.

🤔 pic.twitter.com/ky6f8Cz9g5

— Wall Street Memes (@wallstmemes) July 26, 2023

Investors are fighting to get their share of the WSM token at the least possible price. Safe to say that FOMO has fully set in for the presale.

This project is able to raise such a level of awareness because it is community-driven and based on meme humor. Another factor responsible for its speed is the backing of crypto influencers it has secured.

The fun part is encapsulated in the broad idea of the project itself. Wall Street Memes set out to make a mockery of traditional financial systems and make light of investments. It does this by creating memes and posting them on social media.

The memes from Wall Street Memes have become popular as they generate impressions exceeding 40 million every month. It has made the platform the go-to place for investment-related memes. What followed from the hilarity of these memes is that the platform gained a huge cult-like following. It now has a community that numbers more than 1 million people who are actively involved in getting WSM to be the next big cryptocurrency to explode.

The huge following WSM already has put it in a place for first-class listing. Crypto exchanges like Binance and the rest stand to benefit from the large trading volumes that will come from this token.

In the same way, the memes from this network have gotten Elon Musk’s attention. the billionaire CEO has found time to interact with the memes a number of times. The interactions attracted traders who speculated that Musk may have found another crypto to brandish as he did Dogecoin. Possibly integrate it with Twitter.

Investors are equally impressed by the long-term prospects attached to Wal Street Memes. This comes up after an announcement from the development team that they were not keeping any portion for themselves. Rather, they want the project to be absolutely driven by the community.

For that reason, 50% of the total WSM supply is up for sale in the presale phase. The other 50% is reserved as a reward to the community and liquidity is given to exchanges.

These are reasons why lead crypto analysts and influencers share the opinion that WSM will lead the next bull market.

Visit Wall Street Memes.

2. Synthetix (SNX)

Synthetix (SNX) started off Thursday morning at the top of the gainers’ list by 13.25%. The asset currently sells for $2.94 as of the time of this report. Such a speed after the Feds rate decision indicates that investors flocked to buy SNX. That is a strong sign of the next cryptocurrency to explode.

With the major metrics, SNX has a market capitalization of $787 million and a trading volume of over $85 million in the last 24 hours. With all these, SNX has now gained by over 15% in the last 6 months.

The bullish momentum of the last 24 hours suggests more to come. The increase followed a period of sustained consolidation at $2.70 where the asset built solid support.

SNX’s technical point of view remains positive. Now that it has established a bullish foothold, it will find it easy to break out of the circle. Traders are expecting the asset to test the $3 area if the buying pressure is kept high. Overall, it looks ready to continue going higher.

The latest information paints a strong picture of the SNX token in the short to medium term. It is not likely that there will be volatility anytime soon.

3. Stellar (XLM)

While the traditional leaders of the crypto market are struggling to find their way out of the bearish mud, Stellar (XLM) joined a few others to lead the way. The asset followed not too far behind Synthetix with a 10.2% gain in the early hours of Thursday. But it quickly rose to 13.60% and currently sells at $0.1615. The growth of this next cryptocurrency to explode is fueled by the rise in its trading volume.

Stellar is one of the most prolific payment platforms in the crypto space. It is looking to close the gap of financial inclusion for users who have little to no exposure to digital finance mechanisms. The network now ranks as the top blockchain operating in certain locations that would otherwise be unreachable.

The network announced via its X page that the USDC stablecoin based on XLM is now accessible at 322,000 off-ramp locations. By comparison, Ethereum’s USDC can only be accessed at 30,180 off-ramp locations. Whereas, XLM can be accessed at over 26 locations. This makes it one of the most popular cryptocurrencies available.

XLM competes with XRP directly. While they both fight for the same market, XLM has made its own niche clear. It is riding on that wave to shore up its own position.

The Stellar network leads total off-ramp locations by asset 🏆 #RampUpWithStellar

Read the report: https://t.co/wHUsweWN0K pic.twitter.com/haOoJRq64r

— Stellar (@StellarOrg) July 26, 2023

Stellar has experienced a steady rise this year. It has been featured among protocols that saw considerable growth and it only indicates that it is been embraced massively. It floated a mutual fund on the blockchain this year. The product proves that Stellar is beyond being a payment platform alone.

Having experienced significant price increases and strategic partnerships, Stellar has been a consistent crypto platform. Investors would have a good choice if they decide to invest now.

4. Maker (MKR)

The latest round of information shows that the Maker token rose by 8.92% in the last 24 hours. Now with a market capitalization of $1.1 billion and a 24-hour trading volume of over $126 million, MKR is the next cryptocurrency to explode.

In the last 7 days, MKR has now gained more than 36% and over 86% in 30 days. The bullish exhibition it is showing is nothing short of impressive. The price is now reaching a high level not seen in many months. Almost all indicators are suggesting that MKR is in the overbought zone at this moment.

Maker Governance votes to approve or reject the new Spark Protocol changes.

To enhance the user experience of Spark Protocol, @phoenixlabsdev has presented key adjustments to Spark Protocol's parameters.

The Maker community's votes will decide on the following changes.

↓ pic.twitter.com/KK0MnI55tl

— Maker (@MakerDAO) July 24, 2023

The strong uptrend the MKR token has started out on is showing now signs that it might back down soon. It looks like the token is getting ready to test the $1,3500 level in the future. The bullish momentum just has to stay high.

Maker’s outlook remains strongly bullish as data suggests its uptrend will continue despite being overbought.