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The crypto bull run is far from over, as several catalysts are still ahead to provide more momentum. Besides Bitcoins halving, which is barely 35 days away, the upcoming Ether upgrade is another game changer that’ll initiate significant price action.
As the crypto community anticipates the trends, what are the next cryptocurrencies to explode? Recently, the flow of funds across the crypto market has been evenly and widely distributed across each sector. Thus, the list below showcases some prospective tokens with higher prospects for gains in the quarter.
Next Cryptocurrency To Explode
As the crypto industry expands, embracing more energy-efficient methods and strategies becomes critical. Hence, the latest crypto projects are shifting towards democratized systems. eTukTuk, for example, tackles the transportation problem by integrating blockchain technology and AI. Its solution will change how the world thinks about transportation and how investors profit from it. The project update and the performance of its presale offering are revealed below.
1. Avalanche (AVAX)
The $46 price point has been a significant target of the AVAX token. Breaking above the price gives it the momentum to move towards the $55 – $57 range. After yesterday’s 15% price increase, AVAX established support at the $46 price, which gives it the support it needs to run its course.
AVAX last tested this region in its massive rally in the previous quarter, which resulted in over a 300% increase in price. Similarly, it is pushing for the $48 price and might break above the range before the end of the week.
On the other hand, there might be a need to trade the AVAX token with immense caution as the effect of the recent token release still lingers in the market. Its recent push towards the $50 range earlier today encountered shape rejections that compelled a retrace. The rising value of its RSI also necessitates caution. On the weekly and monthly charts, AVAX has RSI readings that are getting closer to the 70 mark.
From pioneering free-to-play to championing blockchain gaming: Maplestory continues to evolve!
MapleStory, one of the most legendary games from Korea’s largest game studio, Nexon, is now coming to Avalanche with @MaplestoryU on a Subnet.
Maplestory was one of the first games to… pic.twitter.com/Ohv6XGp6wh
— Avalanche 🔺 (@avax) March 11, 2024
With that, it’s uncertain if AVAX will have enough momentum to surpass its ATH value. Nevertheless, the overall optimistic sentiment in the crypto market, coupled with the growing use cases of the chain, might give it the push needed to reach higher values.
2. eTukTuk (TUK)
The world is at the crossroads of climate change, and the crypto industry is gradually becoming instrumental in combating the menace. The democratized physical infrastructure movement is quickly revolutionizing how problems are solved and how people profit from them.
eTukTuk is an example of a revolutionary initiative offering to reward its supporters while significantly resolving the global transportation problem. It does this through the combined power of artificial intelligence and Blockchain technology.
Buckle up and brace yourselves! 🚀
Something electrifying is on the horizon, and it's going to take your tuk-tuk adventures to a whole new level!
Stay tuned for a thrilling journey ahead. pic.twitter.com/CGsh0Ve3Qu
— eTukTuk (@eTukTukio) March 11, 2024
Luckily, these two sectors are currently attracting massive investor interest. In recent times, investors have committed over $50 billion to the artificial intelligence sector alone, which indicates their belief in the potential of the technology. eTukTuk, for instance, gives holders of the TUK token the opportunity of benefitting from the problem the platform is solving.
At the time of writing, the TUK token was available on presale at $0.028, and the platform raised over $1.98 million through its presale. In a few days, it’ll achieve the milestone for the stage, which means that the token’s price will increase.
Investors who wish to participate in the presale and take advantage of the early bird offer can do so through the project’s presale page. Thankfully, there is a chance to stake the TUK token for an APY of about 126%. Moreover, several other features of the offering are revealed on the project’s presale page.
3. Toncoin (TON)
Toncoin is among the leading gainers today, recording over 34% increase in the last 24 hours. That’s arguably the largest price surge it’s recorded in a single day since the start of the bull market. The trend has pushed the token’s price upwards of $3.8, bringing it closer to its ATH value.
An additional push from the bulls might give TO the momentum it needs to break above the $5.58 price. Presently, the token has a trading volume increase of 355%, which signifies a growing interest from investors. Also, the value of its moving averages on the daily chart remains significantly below its current price. Hence, TON has more room to move further up the chart.
Moreover, on-chain data indicates that over 302,000 TON coins have been withdrawn from exchanges into self-custody. Usually, such moves indicate that investors are bullish about the potential of an asset and are willing to hang on to their holdings for the price to rally upwards.
Meanwhile, there’s a growing use case of the Toncoin chain within the Telegram community. The move is poised to unlock more opportunities for the TON network due to the significant user base. A post on the official Twitter handle of Toncoin hints at the debut of a mini DEX app on Telegram built on the network. The app allows users to Swap the Jetton token within the Telegram environment.
🔈 @ston_fi, a leading TON-based DEX, launched a Telegram Mini App with @wallet_tg integration!
Swap Jetton tokens seamlessly within the app, connect your wallet, and access all DEX features directly on @telegram. More details👉 https://t.co/bsZ5Nqm2Qe pic.twitter.com/OM9dfR4QhX
— TON 💎 (@ton_blockchain) March 12, 2024
Ultimately, as the use cases of TON within the telegram environment increase, the token’s price will continue to record significant increases. Thus, it is best to keep an eye on its trend as its prospect of becoming the next crypto to explode is relatively high.
Withdrawal was sent to self-custodial wallets in the same timeframe. The 76,000 TON exchange outflow shows that investors might hold the asset for the long term rather than taking short-term profits.
4. Aave (AAVE)
Aave Token (AAVE) operates within the Aave decentralized finance (DeFi) protocol. The token is a native digital asset for users engaging in cryptocurrency lending, borrowing, and interest-earning activities. Moreover, the current AAVE price is $128.90, showing a slight decrease of -1.11% in the last 24 hours.
Aave boasts a market cap of $1.90 billion, showcasing its significant presence in the DeFi sector. With a circulating supply of 14.76 million AAVE out of a maximum supply of 16.00 million, it maintains a robust standing within the cryptocurrency market. Also, the token has witnessed a notable 91% price increase in the past year and is traded on Binance, signifying high liquidity.
Furthermore, the Aave protocol allows users to deposit digital assets into liquidity pools, which are then used for lending. AAVE tokens are integral to the protocol’s governance, enabling users to vote on rule changes.
Aave V3 market on @Scroll_ZKP, deployed by @bgdlabs, has been approved by governance and is now live!
— Aave Labs (@aave) February 12, 2024
Moreover, fees generate revenue to buy and remove AAVE from circulation, contributing to the token’s value retention. Aave’s top-performing year was 2021, with a remarkable 187.32% price increase. However, 2022 marked a downturn with a -79.57 % decrease. The average yearly growth rate over the last five years stands at 73.88%, showcasing Aave’s historical resilience and potential for growth.
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