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To get the best in the current sideways market, investors might have to look into low-cap assets, preferably built on emerging chains like Base. However, despite the influx of funds into those chains, spotting the next cryptocurrencies to explode is relatively challenging.
Worst still, investors’ interest in treasury yields could mean that Bitcoin would stay longer in the $66k region. The growing outflow from major Bitcoin ETFs validates the facts. Thus, crypto investors may have to strategize the best approach to the increasing uncertainties in the market.
Next Cryptocurrency To Explode
An option to consider would be the newly launched cryptocurrency projects. An example is the 5th Scape blockchain-based virtual reality innovation that’s working on reimagining how the world uses the new technology. It offers a multifaceted solution cutting across virtual reality software and hardware. This post briefly details all investors need to know about the project.
1. TONNEL Network (TONNEL)
The Toncoin network is gradually taking shape as the ecosystem sees growing use cases. One of the recent projects on the chain is the Tonnel Network, a Zero-Knowledge privacy DeFi protocol. The project allows users to transact cryptocurrencies with anonymity.
As of the time of writing, Tonnel Network is recording an increasing user base, and its market cap has just crossed the $8 million mark. Being one of the earliest privacy projects on the TON chain gives Tonnel Network the advantage it needs to scale quickly.
In the last 24 hours, the underlying cryptocurrency of the project, TONNEL, saw a price increase of over 10%, making it one of the top gainers in the market. The project’s trading volume advances to the upside along with the surging price. Today, TONNEL posted an increase of over 180% in trading volume, primarily triggered by the ongoing open league program.
Tonnel network allows users to participate in the Open League program for a chance to earn a reward of up to $550k. According to the post on its official Twitter handle, the project offers up to 50,000 TON coins plus 36,666 TONNEL tokens.
🚀 Participate in the @ton_blockchain Open League and earn more than 550k$ in rewards!🚀
Participate by finishing tasks in @tonnel_network Telegram Mini-App💨https://t.co/TKNwsf1vMU pic.twitter.com/ArQ5QRendY
— Tonnel Network | #1 Zk SocialFi on Telegram (@tonnel_network) April 3, 2024
The projected upside is quite evident, giving it a higher chance of becoming one of the next cryptocurrencies to explode. Another advantage is that TONNEL currently has a $10 million market cap, which allows investors to take a position in the asset before it becomes widespread. On the other hand, the trading volume of the cryptocurrency is relatively low, signifying a potential liquidity challenge.
2. Arbitrum (ARB)
ARbitrum has been on a price decline for several days, with over 12% loss in the last 7 days. However, over the previous 48 hours, ARB is signaling a possibility of a trend reversal as it enters into a consolidation trend. The token’s price ranges between $1.5 on the high side and $1.4 on the low side. The trend shows that the token might accumulate as investors hope to see a more substantial upside ahead of the token.
According to data from ARB’s technical analysis, there is a chance that ARB will become one of the cryptocurrencies that will explode this quarter. Its 23 ADI value shows that the downtrend is getting close to its weakest and is set to break into an uptrend. Also, ARB’s RSI chart glides closer to the 30 range. It signals that the current price of ARB is trading closer to the oversold range. Hence, investors would likely become bullish any moment from now.
Conversely, investors might have to wait for more confirmation before moving to the ARB token. The token has a sell wall above its current price, which might force its price into another recovery phase if it finally breaks out of consumption. Its EMA200, valued at $1.56, is currently above its price, which is a strong bearish signal. Other indicators that show it best to hold on in the short term before deciding on ARB include the MACD value of −0.1008, a strong sell signal.
3. 5th Scape (5SCAPE)
As the cryptocurrency landscape develops, several innovative projects are exploring the opportunities in the ecosystem. One of the more recent projects in leveraging blockchain technology is the 5th Scape. The project is not only building a blockchain-based VR concept. It’s also working on developing the hardware side of Virtual Reality technology.
🚀 Our presale has surged past stage 3!
🌐 Join us now and delve into a world of virtual reality with our multi-utility token.
🎉 Don't miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage 🌟 pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024
5th Scape, according to its whitepaper, is the project that would redefine how users experience entertainment in the VR environment. Unlike many virtual reality projects focusing on content creation and distribution, 5th Scape hopes to create connected minds. It is a universe of virtual reality gadgets from around the world. As technology becomes more mainstream, platforms like 5th Scape become the next iteration of entertainment distribution.
It is for this reason that its hardware initiative has become essential. To ensure that third-party hardware providers do not limit the platform’s users’ experiences, 5th Scape is also working on launching its VR hardware line in the future. It’s inviting investors to come on board through its presale offering.
Part of the project’s execution plan is to allow crypto enthusiasts to invest in its cryptocurrency, the 5 SCENE token, at a discounted value of $0.00215. The 5SCAPE token is set to go live on exchanges after the presale with a listing price of $0.1. Consequently, it amounts to over 4000% of its current value. The listing price allows early investors to make significant returns on their initial commitment. Moreover, 5th Scape comes with other exciting offerings and prospects. Investors can find out more about the project on its presale page.
4. Quant (QNT)
Quant is one of the first interoperability to appear in the cryptocurrency space. Due to the first mover advantage, the project’s crypto coin, ANT, has maintained consistent gains QoQ for several years. Even during the crypto winter of late 2022 and early 2023, QNT recorded double-digit gains while other cryptocurrencies lost most of their value.
Quant maintains its impressive performance as the crypto market crosses into momentary uncertainty. The cryptocurrency sustains its range trend, swinging between highs and lows. With the growing trend, QNT would likely attract the attention of investors looking to hedge their gains, pending the time the market would settle for a direction. In the meantime, Quant has a few exciting announcements that will influence its trend in the coming months.
We recently announced the launch of our new Overledger pricing plans and functionality, designed for enterprise IT users and developers.
Learn more and sign up for a free plan today: https://t.co/qZj22kPDfE #Blockchain #EnterpriseTech
— Quant (@quant_network) April 3, 2024
At the time of writing, the token is posting a relative loss, but data from its chart shows it found momentary support at the $117 range, which has given it momentum to push up toward its current value at $121. As the trend builds up, QNT would likely reach the $125 – $130 range before it drifts into another round of retrace. What this means is that the crypto may have begun a consolidation trend.
As the bulls gain more upside, the target price for QNT could range as high as $160 since the recent local top is at $144, which sits within the mid-range for the coin.
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