Next Cryptocurrency to Explode Thursday 6 July - DeeLance, Bitcoin Cash, Solana

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The ongoing trade dispute between the US and China is keeping financial markets under a lot of pressure. Another dimension of pressure is also exerted on the market by the Federal Reserve’s hawkish outlook as a means of combating inflation.

The Federal Reserve’s meeting minutes released on Wednesday revealed that most Fed members favored interest rate increases. They, however, unanimously decided to wait June out to see some economic effects. Stocks consequently slid as investors wait on the sideline to monitor events, especially around the US-China imbroglio.

The crypto market also bore some consequences of the economic plays. There were fewer gainers on CoinMarketCap’s chart early on Thursday to show the situation.

Meanwhile, BlackRock’s CEO, Larry Fink, stated that the firm wants to make investing in Bitcoin less expensive than it currently is. Fink also mentioned in his interview with Fox Business that Bitcoin is an international asset.

BlackRock filed an application in June for it to be able to set up a Bitcoin exchange-traded fund. The fund will invest in Bitcoin directly and investors can gain exposure through it. This move instigated similar moves from BlackRock’s competitors. The result of those many applications was that Bitcoin rallied to over $30,000. The asset recorded a 12% rise in June and over 80% this year so far.

The Next Cryptocurrency To Explode

Although the crypto market’s capitalization is currently down by 0.32% from our last next cryptocurrency to explode post, there is absolutely no cause for alarm. Most assets are still in the green zone and they are getting set to rise further. Far beyond macroeconomic factors, crypto projects are coming up with new innovations that draw investors to them.

The next cryptocurrency to explode explores assets with the potential to return impressive yields. Yet, not dependent on assets alone but investors’ appetite for risk assets too. The coming days will reveal how much appetite investors have at various market conditions.

1. DeeLance (DLANCE)

DeeLance’s presale has almost raised $1.5 million while currently selling at $0.043. This presale is pulling such weight that it is inevitable for its token to be the next cryptocurrency to explode. It will not achieve this status just by the level of support it is receiving from the community but through the utility the platform is providing.

This has brought about different partnerships with companies that see the great opportunities DeeLance will create in the future. One of the latest is its partnership with KingdomStarter, a crowdfunding platform. DeeLance said in its announcement that the partnership will fuel the freelancing revolution and help the immersive experience. It said further that the community is in for cross-making, boosting IDO initiatives, and community expansion.

Another significant partnership DeeLance struck is with Bounce Finance, a decentralized action protocol. The aim of the partnership is to let users participate in different auctions on many blockchains. DeeLance emphasized that Bounce Finance is a leading Web3 financial platform used for fundraising, marketing, and community growth.

We are excited to announce our partnership with @bounce_finance, a decentralized auction protocol empowering users to create and join various auctions on multiple blockchain networks.

It is the foremost financing platform in #Web3 for fundraising, community growth and marketing. pic.twitter.com/SDJrDS9ash

— DeeLance (@deelance_com) July 3, 2023

Bounce Finance also made the same announcement on its own Twitter page. It described DeeLance as a blockchain that is building professional social experiences in its metaverse. The announcement also stated DeeLance’s core deliverables in attracting gig workers and creating an NFT marketplace.

Importantly, Bounce asked its community to get ready for an IDO of DeeLance’s native token, DLANCE, on its Launchpad.

Visit DeeLance.

2. Bitcoin Cash (BCH)

Bitcoin Cash has been in the face of investors for a couple of weeks now. This is for no other reason than its continuous price increase. It has further gained interest after it was included on EDX, a crypto exchange backed by Citadel Securities.

While investors are watching the asset’s progress, BCH currently sells at $296.34 according to CoinMarketCap. It has gained by more than 8% in the last 24 hours and 22.85% in the last 7 days.

The improved sentiment around Bitcoin is one of the factors that also contributed immensely to BCH’s growth. Even at that, as cryptocurrencies gain mainstream acceptance, investors seek other options besides Bitcoin and Ethereum. BCH is a close contender for the top spot among several options.

While there are innovative contributors to Bitcoin Cash’s price surge such as the token listing on EDX, data also show other contributions. It was revealed that whales who hold between 1 and 10 million BCH tokens were the major players that drove the rally through purchases.

According to on-chain reports, whales bought up to 170,000 BCH tokens between the 21st to 30th of June. the value of that accumulation is approximately $52.4 million. Their purchase had a huge impact on the price of the asset as whales have the financial ability to pull such weight.

These activities push Bitcoin Cash to the status of the next cryptocurrency to explode. While the accumulation goes on, investors holding low amounts of BCH or none at all may want to increase their stakes.

3. Solana (SOL)

Solana is one of the few tokens in the market that has shown great strength and qualifies to be the next cryptocurrency to explode. The asset has increased its value by over 20% in the last week.

One of the reasons ascribed to the asset’s rise is that it has seen higher interest from users on Reddit. The report was released by Santiment after it conducted social volume research on different social media spaces.

Social volume is used to refer to a measurement of the number of posts on any social media platform that mentions SOL at least once. This is used to know the volume of discussion the coin is generating on that social media platform.

Solana’s mention on Reddit saw a spike while the asset’s price was rising. Other social media platforms have not seen that much discussion about SOL at the same time. Reddit also saw a spike in SOL discussions in the last 24 hours before it jumped by another 5%.

However, later price surges of the SOL asset have not been accompanied by increased trading volumes. This was not the case when the price movement started in June. High trading volumes are required for any upward price movement to be sustained in the long term. This is why it has become expedient for investors and traders to increase their trading activities on the Solana network.

4. Neo (NEO)

The Neo network and its native token, NEO, have recently experienced a price surge. A lot of investors have, as expected, jumped on the opportunity and increased their crypto stakes. There is no better reason to do this other than that it promises a better outlook, an undisputable attribute of the next cryptocurrency to explode.

As of Wednesday, the NEO token broke the $10 barrier when it sold at $10.63. That movement signaled a high buying momentum that got other traders and investors jumping on the train. NEO bulls had a favorable market ecosystem to trade in irrespective of the initial selling pressure.

NEO is currently up by 3.41% while selling at $9.32. Surpassing the $10 resistance level on Wednesday, however, provides sufficient encouragement to traders and investors. It is expected that bulls will take control from this point on for weeks to come.

The latest analysis of NEO’s price shows the domination of the green side. It shows there is a bullish momentum in place. Having it in the vicinity of $10 also shows that there is potential for it to rise further in the coming days.

Investors are encouraged to buy NEO tokens to diversify their portfolios. The recent surges are indicative of high returns.