Next Cryptocurrency to Explode Tuesday 22 August - Launchpad XYZ, Compound, Optimism

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The global crypto market is yet to turn a bullish side as the downturn continues. The market is currently down by 0.20%. Dropping further from Monday’s slide, the market’s capitalization is now at $1.05 trillion. Although the trading volume increased by 23.43% in the last 24 hours, there is no new inflow to the market. It is yet to be determined what will catalyze a long-term bull run.

While the crypto market struggles, the US Treasury bond yields gained to a decade high. Equities in Europe have also risen. They broke the six-week-long low they had been on. Nasdaq was included as it rose by 1% while investors waited on Monday for the Federal Reserve meeting scheduled for Friday.

Trading on Wall Street ended up being mixed. The Dow and S&P 500 lost their initial gains. Oil futures also lost some points after gaining over $1 a barrel.

Whereas, in Asia, the stock markets broke the long losing streak early on Tuesday. The Chinese shares aided the recovery rebound. Benchmark Treasury yields in the Asian market also rose to a 16-year high as there were concerns that interest rates may remain high.

Next Cryptocurrency to Explode

Traders and investors in the crypto market will do their best to keep the market afloat. They will also watch out for macroeconomic factors that will boost investment in the crypto space.

1. Launchpad XYZ (LPX)

Launchpad XYZ (LPX) has been meticulously crafted to predict and prefigure trends in the crypto market. It has positioned itself as one of the industry’s most eagerly anticipated crypto projects. With the potential to revolutionize cryptocurrency trading, Launchpad XYZ promises to reshape the way we engage with digital assets, thus, becoming the next cryptocurrency to explode.

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One of the standout features of Launchpad XYZ is its ability to serve as an early warning system. It alerts users to impending significant market movements. The platform harnesses extensive data points, guiding users to comprehensively interpret and synthesize information to understand market dynamics. Launchpad XYZ offers users a convenient and insightful toolkit by simplifying decision-making.

The platform’s depth of analysis and breadth of information empowers users to foresee market trends with remarkable precision. The empowerment leads to substantial gains in each trade. This compelling value proposition is propelling Launchpad XYZ’s native token, LPX, through a successful presale, raising over $1.3 million to date. As an essential element of the Launchpad XYZ ecosystem, LPX is a gateway to the platform’s offerings. LPX is one of the tokens poised for explosive growth in 2023, bolstered by its widespread appeal.

LPX is positioned as a comprehensive hub for traders and investors navigating the complexities of the crypto market. It leverages Web3 technology to aggregate data from across the internet, delivering tailored insights based on individual interests. The platform bridges the gap between Web3’s potential and end-user accessibility. It provides an interface to access the modern web’s wealth of data.

Conceived by Terence Ribaudo, Launchpad XYZ embodies the culmination of Ribaudo’s extensive career as a crypto trader and analyst. Drawing from his wealth of experience, he has created a platform that delves deep into the crypto space. The platform will deliver real-time pivotal data points precisely when they matter most. This transformative potential positions Launchpad XYZ as a tool capable of fundamentally altering the trading experiences of its users.

As part of its commitment to fostering an understanding of Web3’s benefits, Launchpad XYZ will introduce a comprehensive training module accessible to all users. This educational feature will enable users to harness the platform’s capabilities fully.

The LPX token is the entry point unlocking access to Launchpad XYZ’s array of tools and features. In a presale stage that has already garnered over $1.3 million, LPX is a prime contender for the hottest tokens, 2023. Investors are swiftly recognizing this potential and striving to secure LPX ahead of its projected price surge upon entry into the open market.

The presale structure incentivizes early participation, with each stage witnessing a price increase. However, even investors joining in later stages stand to benefit from substantial returns on investment once LPX hits crypto exchanges, propelling its price to new heights.

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2. Compound (COMP)

Compound (COMP) made a remarkable leap of 20% in July, captivating the attention of investors in pursuit of substantial profits. Nonetheless, The beginning of August ushered in a minor retracement due to multiple selling pressures. It led to a temporary dip in the asset’s price.

Surprisingly, even the Compound CEO’s resignation announcement from Compound Labs failed to impede COMP’s upward trajectory. The course remains optimistic, with Compound The COMP token poised for further short-term expansion as investors’ appetite for DeFi tokens continues to gain traction. The asset is, thus, in line to be the next cryptocurrency to explode.

However, a turning point emerged on the 16th of August, shifting Compound’s trajectory from bullish to bearish. It resulted in a descent to $49.05 from its peak of $56.87 on the 10th of August.

Technical indicators shed light on the mounting interest surrounding Compound (COMP), possibly propelling its value towards a target of $65 by August 12. Yet, market experts are no longer unanimous agreement regarding their bullish stance on Compound (COMP).

What distinguishes Compound from its counterparts like Ethereum and Bitcoin is its blockchain-incorporated decision-making. Through its open lending platform, Compound empowers users to earn interest on supported Ethereum tokens or secure loans against their balances. The distinctive community governance of the Compound platform sets it apart from other protocols.

Compound (COMP) remains actively engaged in reshaping legislative and compliance frameworks with innovative commercial standards, challenging the status quo of the current ecosystem. The Compound team recognizes that realizing the full potential of blockchain necessitates a solid foundational framework to transform this revolutionary technology into a reality.

Compound’s interoperability ensures the continuous updating of corporate blockchains. It offers global expansion, an extensive network of users, decentralized applications, and ongoing developments and enhancements.

According to coin price predictions, technical analyses within the broader crypto community, and inverse trends, Compound consistently demonstrates the potential to recover and perform well. Compound competes against counterparts like Stellar and Ethereum, holding the 113th rank. Nevertheless, the COMP price is anticipated to thrive in the upcoming years.

In April 2022, COMP was valued at around $171, yet it encountered substantial resistance from that point onward, leading to a downward trajectory. Although it dipped to $28 in June, there was a modest recovery, and it presently hovers around $44.40. Since the beginning of this year, the price initially experienced an upward swing, followed by consolidation within a narrow range.

3. Optimism (OP)

Optimism’s price movement has followed an upward path after the contours of an ascending channel. Interestingly, there was a slight dip where the price touched the support line, yet it demonstrated resilience by rebounding. It is a formidable sign of the next cryptocurrency to explode. This tenacity is underscored by the emergence of green candles, signifying a positive price trend. Analysts posit that as long as the price maintains its position above the support line, it’s likely to sustain its fluctuation, potentially inching closer to the resistance line.

On the other hand, another segment of the community has adopted a more cautious stance. A subset of traders has initiated short positions on OP/USDT, centering around the 1.53 mark. This strategic move is motivated by specific bearish observations and liquidity pools at particular price levels.

Moreover, there’s ongoing speculation within the community concerning a possible token unlock event for the OP token slated for this month. The impact of such events on a token’s price can vary significantly, making it a topic of interest as it remains to be seen how it will influence the trajectory of OPUSDT.

While the OP token’s upward momentum offers promising indications, the cryptocurrency community stands divided. Some members are optimistic about its future, while others exercise caution, closely monitoring potential shifts in the market landscape. Over the past 24 hours, OP has surged by more than 5.10%. It currently trades at $1.57.

4. Sui (SUI)

The SUI token has performed poorly in the last month. It fell by as much as 56.50% over the previous six months. But it has begun to stage a comeback during the last 2 hours as it rose by over 6%

Sui crypto declined by 6.83% in market value and plummeted by 34.97% on Monday, according to Coinmarketcap. Its market capitalization is $399.2 million, while its trading volume in the last 24 hours is worth $157.2 million. There are 723,162,190 SUI in circulation.

The SUI token has an open interest of $47.98 Million. According to Coinglass, a crypto analysis website, genuine interest fell by 2.79% in the previous session. The long versus short ratio for 24 hours is 0.8563. The short liquidation is $4.87K versus $51.59K for the long liquidation.

According to the news published by the Sui platform on CoinMarketCap’s website, Sui recently welcomed Sina Nader as the designation of Head of Strategy. He was formerly designated at Robinhood, FTX US, and Morgan Stanley.