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Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has been struggling to get back to $62K and above, and Ethereum (ETH) is striving to return to $3,500.
However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Astar (ASTR)
Astar Network is a hub for decentralized applications (dApps) and supports layer two solutions such as Ethereum, WebAssembly, and ZK Rollups on Polkadot. It strives to be a versatile smart contract platform that integrates various blockchains and virtual machines.
According to Astar, their design aims to offer the best environment for developers. By supporting the Ethereum Virtual Machine (EVM) and creating a parachain, they enable EVM and WebAssembly (WASM) smart contracts to coexist and interact seamlessly.
Astar Network is creating a scalable and interoperable infrastructure for Web 3.0. Built with Parity’s Substrate framework, Astar Network can act as a scalable smart contract platform and a potential future Polkadot para chain. The Polkadot Relaychain does not support smart contracts by design, allowing Astar to address this gap. Scalability is a crucial need for dApp developers, and Astar aims to provide a platform where developers can build applications without worrying about scalability.
📣 Reminder: Don't forget to join us tomorrow for the Sequence Demo Day with the @0xsequence team.
🕹️ We'll be learning about integrating web3 into games.
▶️ Watch here on X, or jump into our YouTube channel: https://t.co/L14UPULbDD pic.twitter.com/tCiQ0Fk5zM
— Astar Network (@AstarNetwork) July 2, 2024
Astar recently saw a 24-hour increase of 7.09% and an annual rise of 72.35%. Its high liquidity and volume-to-market cap ratio of 0.0142 ensures robust trading activity. With a neutral RSI of 57.65 and 47% green days, Astar shows stability similar to Metaplex and Helium but without their dramatic gains. However, trading 423.50% above its 200-day SMA indicates steady growth and potential for a substantial increase.
2. Beam (BEAM)
Beam (BEAM) is today’s top gainer, showing strong price movements. A detailed analysis reveals significant upward momentum, with BEAM closing above the Ichimoku cloud. Additionally, the Volume Oscillator has risen notably, indicating strong buying interest. Beam is priced at $0.01879, marking an 11.16% increase in the past 24 hours.
Developed by the Merit Circle DAO, Beam offers various services and platforms to enhance gaming through blockchain technology. The ecosystem includes BeamOS, which integrates all components into a unified user experience, Beam Hub for discovering new games and participating in tournaments, Sphere—a dedicated NFT marketplace for gaming items, and the Beam Companion App for managing multiple game accounts.
Beam has also partnered with Immutable to incorporate zkEVM technology, which enhances the security and scalability of blockchain transactions in games. This collaboration facilitates the easy and secure sale of in-game assets, attracting more game developers and players to the platform.
Amid increased volatility in the crypto market, BEAM has seen a 215.87% surge in trading volume. The altcoin has also gained 14.84% over the past week, reflecting growing bullish sentiment. The Relative Strength Index (RSI) has retested its oversold range, leading to a sharp rise in BEAM’s price. The moving average has taken on a bullish curve, suggesting a positive outlook for BEAM this week.
State of the network ❇️
Total transactions: 3,756,553
Latest block: 2,880,559
Total addresses: 830,000+To view the current state of the Beam mainnet and testnet, you can always check 👇 https://t.co/NOM3PbD60w pic.twitter.com/7f76heGbbF
— Beam (@BuildOnBeam) July 1, 2024
If BEAM continues to trade with bullish sentiment, it may test its upper resistance level of $0.028330. However, if a bearish reversal occurs, it could drop to its crucial support level of $0.013911.
3. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) raised $1.2 million in its first week and added another $718,000 in the last three days, bringing the total to $1.918 million. The project is gaining rapid momentum, attracting attention in the crypto market with a more robust and faster version of Pepe that includes its own Layer 2 blockchain on Ethereum.
The $PEPU token is currently priced at $0.0081939, but it will rise to $0.00822670 in less than 24 hours as the presale progresses to the next stage. Each day, more investors discover this enhanced version of Pepe, increasing the likelihood of a major exchange listing that could significantly boost its price. The 46% increase in funds raised is much higher than the gains seen with other Pepe-themed coins. This surge has put $PEPU in the spotlight, raising anticipation for the launch of its blockchain.
Pepe Unchained’s Layer 2 solution on Ethereum allows for higher transaction capacities and lower fees. This innovation differentiates $PEPU from previous versions. While the exact launch date for the chain has not been announced, Pepe Unchained has hinted on X that updates are coming soon.
Pepe has broken his chains with his own layer 2 blockchain solution:
🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block ExplorerJoin the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz
— Pepe Unchained (@pepe_unchained) July 1, 2024
Investors are also excited because the chain aims to improve transactions and create an ecosystem that could position $PEPU as a market leader. This new blockchain ecosystem, including its own blockchain explorer, may also serve as a launchpad for other tokens.
The presale is ongoing and includes staking features for investors eager to join. Staking allows investors to increase their $PEPU holdings while awaiting the blockchain launch, offering an APY of 1,115%. Get $PEPU now before it surpasses other top meme coins!
Visit the Pepe Unchained Presale
4. Metaplex (MPLX)
Metaplex is a decentralized protocol built on the Solana blockchain. It supports the creation, trade, and use of digital assets. It includes utility programs like Packs, Fusion, and Encrypted NFTs, which aim to make digital commerce more accessible and scalable for the NFT community. The MPLX token governs the protocol through the Metaplex DAO.
The next step in the evolution of the Metaplex DAO has begun!
50% of the Metaplex Protocol’s May fees (4,490 SOL) and an initial small portion of the historical fees (5,510 SOL) were used to purchase $MPLX in June.
In total 3.8 million $MPLX was contributed to the Metaplex DAO! pic.twitter.com/7umWebLA54
— Metaplex 🦾 (@metaplex) July 1, 2024
Recently, the Metaplex Foundation announced MPL-404, an innovative framework and on-chain protocol designed for hybrid DeFi on Solana. In collaboration with Mutant Labs, this development aims to transform how tradeable and non-tradeable assets are integrated within the Solana ecosystem.
MPL-404 enables easy swapping of fungible and non-fungible tokens, representing a significant advancement in NFT utility. Additionally, it offers dynamic trait re-rolling and on-chain identities, providing token communities with new possibilities for innovation and growth.
MPLX has surged by over 21% in the past 24 hours. Over the last year, it has increased by 380.03%, outperforming 78% of the top 100 crypto assets. Currently, it is trading above its 200-day SMA by 436.22%, with the SMA at $0.07073, showing a stable trend.
The 14-day RSI is neutral at 59.65, indicating possible sideways movement. However, 47% of the last 30 trading days were positive. Metaplex has a 30-day volatility of 10%, indicating relatively stable price movements. Despite this stability, it has low liquidity, with a volume-to-market cap ratio of 0.0137.
5. MultiversX (EGLD)
Today, MultiversX (EGLD) is experiencing notable gains reflected in its price movements. A detailed analysis shows EGLD on a solid upward path within an ascending pitchfork, suggesting a stable bullish trend. The MACD indicates increasing bullish momentum, with the MACD line above the signal line and both lines moving upwards. At the time of reporting, MultiversX was priced at $32.39, marking an 8% rise in the last 24 hours.
Last month, @binance enabled the EGLD/TRY pair as part of our strategic plan to simplify access to #MultiversX worldwide.
To further build on the momentum, @BinanceTR is running a regional $110,000 trading competition for $EGLD and its users. pic.twitter.com/YhNyj7lMfl
— MultiversX | Sovereign Chains (@MultiversX) June 28, 2024
According to the social intelligence company LunarCrush, MultiversX is currently leading in social and market activity, surpassing Helium, Akash Network, and others. MultiversX has launched new initiatives to support its growing community. Following the Quest Portal and Community Grant Program, it has now introduced the Building Blocks Grant Program, supported by the MultiversX Foundation.
This program assists builders by covering gas costs, supporting early-stage blockchain development, and encouraging growth within the MultiversX ecosystem. Moreover, MultiversX is expanding its global presence by opening a new center in Seoul, South Korea. This move aims to capitalize on the country’s strong interest in technology and blockchain, strengthening its international market position.
Previously, CNF reported that MultiversX achieved remarkable success in development activities, surpassing Decentraland. According to Santiment, MultiversX recorded 236.93 significant GitHub events compared to Decentraland’s 150.4. This notable difference highlights MultiversX’s status as a leading blockchain gaming platform.
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