Next Cryptocurrency to Explode Thursday, August 3 - HEDERA, Launchpad XYZ, Frax Share

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The promise of explosive gains often influences investors’ decisions when considering an opportunity in the cryptocurrency industry. Usually, their preferences tilt towards cryptocurrencies with the potential for massive growth.

This article explores the crypto market searching for the next cryptocurrency to explode. The aim is to review these assets based on their performance and the activities across their ecosystem.

Furthermore, the tokens featured below were stacked against other tokens in their categories, and they showed performances that deviated from the norms. The trends in their price show that the tokens are up to explosive price action.

The findings are reported as clearly as possible to help investors understand assets that can bring impressive returns in the future. Even so, the information shared below is not intended to become a replacement for personal research.

Also, the data used in the review are based on the performance of each token at press time.

The investment comes with risks, and it’s vital that every investor conducts adequate research to enhance their decisions.

Next Cryptocurrency to Explode

There are many options to consider when looking at crypto assets with the potential to explode. Many investors have an eye for presale tokens that might become the next penny crypto to explode, and others prefer to buy and hold. Whatever investment strategy investors embrace, it’s best to have a balanced portfolio that includes assets with the potential for short and long-term gains.

1. Celo (CELO)

Celo has struggled to maintain its value for some time now, with its price continually in the red. However, Celo recently proposed to move from a layer 1 blockchain to operating as a layer 2 platform on the Ethereum network.

Since the move was announced, the platform has enjoyed a return of activities around its price charts. As of today, the CELO trading volume says an intraday increase of over 1000%.

Celo’s decision to return to Layer 2 of the Ethereum network has attracted a partnership with the tech giant Google. The company’s Cloud service has pledged to work with the Celo community to strengthen security across its ecosystem further.

The news of the partnership instilled confidence in the asset holders because the market responded positively to the CELO token. The word got out on the 2nd of August within 24 hours, and Celo’s price jumped by nearly 15%.

It's official––the @googlecloud & @CeloOrg partnership continues! 🤝

Importantly, @googlecloud is running a validator on the Celo network, helping to strengthen the network’s security. pic.twitter.com/vTzadH8t1d

— Celo 🦇 🌳 (@CeloOrg) August 2, 2023

Also, information posted on the official handle of the platform reveals that Celo might be expanding its influence in Africa through event sponsorship.

Invariably, the platform is making efforts towards tapping into some of the countries with the most significant use cases of cryptocurrencies. If the platform keeps the pace of activity, there’s no doubt that Celo might become the next cryptocurrency to explode.

2. Hedera (HBAR)

HBAR is enjoying a massive pump, thanks to the recent collaboration with the automakers Hyundai and Kia. The two companies recently picked interest in the platform. They’ve decided to leverage it towards monitoring the emission of CO2.

Furthermore, even though the move might not immediately impact the HBAR price’s direction, it influences the market’s confidence in the asset.

Besides its confidence-building collaborations, HBAR has the chance of becoming the next penny cryptocurrency to explode due to its foray into the NFT sector.

The platform recently published a move to its NFT Ecosystem. The move is intended to establish new price models to meet the growing demand in the NFT market.

NFTs are one of the sectors where HBAR has enjoyed growing adoption. As of July this year, Hedera reported over 19,500 active accounts in its NFT ecosystem. With the changes, there is bound to be an upsurge in price.

We’re excited to announce that @HMGnewsroom, the largest car manufacturer in South Korea, and @Kia have introduced an #AI-enabled supply chain carbon emissions tracking solution on the highly scalable @Hedera network 🇰🇷 pic.twitter.com/PiI7sUfE9G

— HBAR Foundation (@HBAR_foundation) August 2, 2023

The move’s impact is already reflected in the price and trading volume of HBAR. Its trading volume gained above 20% today, and its price increased by about 5%. In the future, the boost will likely continue as the activities around the network increase.

3. Frax Share (FXS)

Is Frax Share the next cryptocurrency to explode? The performance of FXS in the last 24 hours tends towards the potential for explosive growth. Its price is rising, reaching over 6% over the previous 24 hours.

The sudden price increase is surprising because many assets are batting with declining prices. Its price climbs as it makes its way towards the resistance zone. Its current gains make up for the drain it encountered over the weekend, which wiped off over 13% of its value.

Frax Shares (FXS) is one of the native tokens of the Frax Protocol. It is used as the governance token of the platform. While FRAX stablecoin differs from the FXS, the two tokens influence each other in the market. It accounts for why FXS took a hit after the DeFi sector went through the attack.

However, the resilience of the token helped it scale through the downturn and placed it back in the up trend. Fortunately, the token swung into recovery with minimal changes to its trading volume. The move attests to its value to its holders and the sector.

Nonetheless, Investors with FXS in their portfolio must monitor the trend as it is the next cryptocurrency to explode.

With the assets in the DeFi sector going through bear pressure, FXS can cash in on the declining trend if it can attract attention with its resilience.

4. Monero (XMR)

Monero is currently printing some impressive results that make it liable to become the next cryptocurrency to explode. For example, the asset is presently outperforming 73% of the top 100 assets on the market.

Also, its price currently runs above its 200-day moving average, indicating that the market is still confident in the token.

While XMR may not delight first-time crypto investors, the token still has many upsides. Prime among its upside is the low volatility of the token. Furthermore, its ability to print more green days than most crypto assets is also thrilling.

Its upsides are high liquidity, a critical factor in any crypto asset worth buying.

Moreover, the narrative around the crypto industry highlights privacy platforms like Monero as the projects that might be the biggest beneficiary.

Ultimately, their assets might become the next big cryptos to explode, bearing in mind that the Blackrock ETF, the implementation of CBDCs, and other sensitive use cases of cryptocurrencies all require privacy.

However, there is no guarantee that other competitors would not arise to take a bite at the multi-trillion dollar market. But with the first mover’s advantage, XMR and other privacy assets would take the lead.

For now, XMR is best to buy and hold the asset as it has a viable potential for growth. Also, its price has been steadily climbing since its launch in 2020.

5. Launchpad XYZ (LPX)

Investors interested in crypto projects with defined utility will find the Launchpad XYZ project attractive. The platform comes with loads of befits for investors and end users.

Why juggle multiple platforms when you can have everything in one place?

Say goodbye to scattered tabs and hello to streamlined trading

Join our community today 💪
👉https://t.co/ZUZaIKgy84
#LaunchpadXYZ #Web3 #Crypt pic.twitter.com/2LIx0Sskpq

— Launchpad.xyz (@launchpadlpx) August 2, 2023

Launchpad XYZ is an all-purpose automated investment platform encompassing most web3 values. LPX investors enjoy access to premium information about projects in the crypto and web3 industry with the prospect of becoming the next big thing.

Besides utility, Launchpad XYZ also comes with other benefits. By holding the LPX token, investors enjoy the gains from increased asset value.

Currently, the token is offered on presale, and the public can purchase it for $0.0445. However, the price is only for a limited time because the price is intended to increase after the project crosses each milestone.

The next milestone is $1,550,000; the token’s price increases once the project crosses that milestone. It might be best to get in while the token is discounted.

The price might skyrocket as soon as it goes live and be a missed opportunity. The presale page offers more detailed information but the project. It also provides a link to its whitepaper.

Visit Launchpad XYZ presale.