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The cryptocurrency market is still bumpy after the Bitcoin halving, with some coins struggling to bounce back. Bitcoin (BTC) is slowly going back above $60,000, hoping to find support for its next big move. Investors need to stay alert during this consolidation phase as it could be a chance to catch a ride on a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin sector and making the most of the post-Bitcoin halving market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like the 5th Scape. The project aims to revolutionize user interactions with virtual environments by blending innovation with entertainment. This post covers the details of its presale.
1. Litecoin (LTC)
Following a steady drop, Litecoin found support near $75.00. It then began to recover, surpassing resistance levels at $78.00 and $80.00.
According to TradingView, Litecoin’s price fell by over 19% in the last month, causing many holders to lose money. However, during this decline, large investors bought more coins.
This increase in buying from big investors helped turn Litecoin’s market sentiment positive. In the past 24 hours, its value rose by 2.61%. When this metric reaches such a point, it suggests potential for price growth. Additionally, the rise in Open Interest indicates that the upward price trend might continue.
Recent findings from a well-known payment processor reveal a significant change in how people use cryptocurrencies for transactions. By May, Litecoin had processed almost twice as many payments as Bitcoin, indicating a growing preference for Litecoin among users.
'#Litecoin remained the most preferred cryptocurrency for payments in April, outperforming all major assets' –@benzingacrypto $LTChttps://t.co/DxKpT08Qpi
— Litecoin (@litecoin) May 8, 2024
This shift might be due to Bitcoin’s rising transaction fees. Reports show that Bitcoin’s average fees have climbed to about $100, likely discouraging its use for small, frequent payments. As a result, users are moving towards cheaper alternatives like Litecoin, which offers similar blockchain benefits without the high fees.
Although Litecoin’s price has dropped 19% recently, large investors remain optimistic and are buying more coins. While the market is currently uncertain, the increase in Open Interest suggests a potential price rise in the future.
2. Toncoin (TON)
According to experts on TradingView, Toncoin (TON) is a good buy for the short term. One analyst says that because of a break in a falling wedge pattern and more trading, it looks positive. Also, the price is above a strong support area.
Toncoin (TON) recently broke out from a downward channel it had been in since April. Now, the price is checking back the old resistance as a support. The analyst thinks it’s a good time to buy for a short while.
Currently, Toncoin is trading at about $6.05. The analysis suggests it could go up to around $10, which means there’s a chance to make nearly 100% profit.
🔥 TON DeFi is on Fire! 🔥$TON just crossed $200M Total Value Locked (TVL)
When @TONOpenLeague began @ March 1st. TVL stood at $22.9million. Since then TVL has grown 900% to $206.74 Million.
Time to Double Down.
JOIN https://t.co/oW0WjBJ8KB pic.twitter.com/AU5t7PZXvp
— TON 💎 (@ton_blockchain) May 6, 2024
In April, news surfaced about a partnership between the TON Foundation and the HashKey Group. This alliance aims to boost the management of the TON Ecosystem’s treasury in the Asia-Pacific region.
By teaming up, the organizations aim to enhance the infrastructure and efficiency of the TON Ecosystem with the expertise of the HashKey Group. Together, they seek to expand the crypto user base in the region and improve their technology access.
3. Dogeverse (DOGEVERSE)
Since its presale launch, Dogeverse has quickly gained traction. The Dogeverse Twitter community has grown to 14,000 followers in just one month, showing consistent interest despite market fluctuations.
What sets Dogeverse apart is its use of multiple blockchain networks. This means the token operates on Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base networks, offering unique advantages both technically and in terms of speculation.
Furthermore, the project plans to be listed on major decentralized exchange platforms across these networks, enhancing liquidity over time. This will make it easier to swap tokens and conduct transactions on different blockchain networks.
Never underestimate the power of flexibility and choice! 💪 🏋️♀️
$DOGEVERSE offers something uniquely different to others…offering yourself a preferred #Blockchain. 🌍
Whether it’s #ETH, #SOL, #BNB Chain, #BASE, #MATIC or #AVAX, align with YOUR needs for speed and cost!
— DogeVerse (@The_DogeVerse) May 2, 2024
The Dogeverse project is gaining traction. Recently, it raised more than $13 million, positioning itself as a strong alternative to Dogecoin. The last phase of the presale is underway, selling tokens for a discounted price of $0.00031 each.
Those who buy Dogeverse with ETH can stake their tokens and earn rewards. The platform currently offers an APY of over 70%.
4. Arweave (AR)
Arweave is riding high on a surge, catching the eye of investors as its price shot up by 35.12% in the last week. Currently valued at $39.69, it’s seen a 4.54% increase in the past day.
This boost in Arweave’s value is linked to the introduction of its new blockchain, Arweave AO. This innovative move aims to improve efficiency and speed. Despite fluctuations, Arweave (AR) has shown strong stability, staying above $30, hinting at the potential for more growth. With Bitcoin’s market looking positive, there’s speculation that AR might hit $42 soon.
Arweave has shown impressive results lately. Its price surged by 357% in the past year, surpassing 89% of the top 100 cryptocurrencies. This suggests that the future looks bright for AR’s price. Moreover, Arweave’s ability to outperform big names like Bitcoin and Ethereum indicates its potential as a top asset with unique benefits.
Over 100,000 transactions on #Arweave last month from @AkordTeam.
Great place to start if you're new to Arweave, or even if you are a veteran – 100MB free uploads, mint Atomic NFTs, and more. pic.twitter.com/jWKBoZ9fmi
— Only Arweave (@onlyarweave) May 8, 2024
Technical signals also point to a positive outlook for Arweave’s price. AR is trading above its 200-day simple moving average (SMA), signaling a bullish trend and possible upward movement.
Additionally, the fact that Arweave’s current price is higher than its token sale price shows early investors have made a good profit, which boosts confidence and attracts new interest from the broader market.
5. Floki (FLOKI)
Today, the Floki Inu market has had ups and downs. It started with a big increase, hitting $0.000172. But soon after, it dropped to $0.000164. Even though it fell suddenly, the price settled and stayed pretty steady. Despite worries about crypto market changes, people mostly felt positive.
Also, the recent rise in price suggests people might feel more optimistic, which could mean good things for the market soon.
Meanwhile, Floki and TokenFi are joining forces to sponsor the upcoming T20 series between Pakistan and Ireland. As the main sponsors, their logos will be prominently displayed on elements like perimeter boards, sight screens, and boundary ropes during live broadcasts. Both companies hope this partnership will boost their brands as they support this highly anticipated cricket series.
In other news, a big investor bought a huge amount of 19 billion FLOKI coins. This was noticed by Scopescan, a well-known tracker of crypto transactions. This news surprised many and caused FLOKI’s price to go up, even though people weren’t feeling very positive about the market.
FLOKI NAMED AS THE TITLE SPONSOR FOR THE UPCOMING IRELAND VS PAKISTAN T20I CRICKET MATCHES
– @RealFlokiInu has been announced as the title sponsor of the upcoming "Floki Ireland v Pakistan T20I Series."
– This three-match cricket series is set to begin on Friday at Clontarf.
-… https://t.co/fdlYNs9Smn pic.twitter.com/VR5TtrQ1Ju
— BSCN (@BSCNews) May 9, 2024
At the same time, the FLOKI whale has been making strategic moves by withdrawing a significant amount of coins, about 18.76 billion, worth around $3.28 million, from three major crypto exchanges: KuCoin, OKX, and Gate.io. This activity has sparked speculation about the whale’s plans and what it could mean for FLOKI’s future price.
According to data from Scopescan, the ratio of withdrawals to deposits for FLOKI in the last 24 hours is 86% to 14%. This indicates a large amount of the meme coin being taken out of exchanges, signaling strong confidence among holders and possibly driving up the coin’s price.
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