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Achieving good returns in a strong market involves monitoring the top cryptocurrencies and preparing Altcoins for growth. Yet, spotting the next prominent cryptocurrency can be challenging because many investors focus on already popular assets.
This article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
Today’s analysis details the performance of the cryptos that investors should add to their watchlist. It also includes a special mention of Sealana, a Solana meme coin that introduces a “send-to-wallet” feature alongside a traditional “Buy Now” widget to accommodate different investor preferences. The details of its presale and the performance of the top-performing crypto today are shared below.
1. Arbitrum (ARB)
Arbitrum (ARB) recently gained attention with the launch of the Arbitrum Foundation Grants. This initiative allows projects to apply for Dedicated Grant Tracks based on their stage, growth projections, and type. This could increase demand for Arbitrum crypto.
Although the current metrics for Arbitrum’s price are neutral, it could rise if it gains bullish momentum. Predictions suggest that Arbitrum could reach $1.41 by the end of 2024, making it one of the best altcoins to consider. Currently trading at $1.18, the token has seen a 20.47% increase in the last 24 hours, reflecting a similar rise in the global cryptocurrency capitalization.
If you are a dApp building on @arbitrum or looking to add value to the ecosystem, this 🧵 is for you.
The Arbitrum Foundation Grants are back!
This time, projects can apply for Dedicated Grant Tracks depending on the stage, growth projection & type.
Know your Grant Tracks👇 pic.twitter.com/zds84HLAZA
— Arbitrum (💙,🧡) (@arbitrum) May 16, 2024
Over the past 24 hours, ARB has experienced a surge in activity, leading to a significant increase in its trading volume. At the time of reporting, the trading volume reached $1.09 billion, marking the highest single-day level since March 21. The price of ARB has also risen above the resistance level of $1.13 and is now above its 20-day Exponential Moving Average (EMA) and 50-day Simple Moving Average (SMA).
This upward movement past crucial moving averages is seen as a bullish indicator. It suggests positive recent and medium-term price trends, signaling to traders that the asset is gaining upward momentum.
2. Aragon (ANT)
Today, the ANT price is $9.71. In the last 24 hours, it has surged by 23.48%. This notable increase has pushed ANT to trade 54.80% above its 200-day SMA, which is $6.20. Over the past 30 days, there have been 16 green days, making up 53% of the month.
Currently, the ANT price prediction sentiment is very bullish. The Fear & Greed Index is at 76, indicating “Extreme Greed” and a high level of token transactions. This suggests a potential uptrend and a positive market outlook.
In other news, 14 days ago, Aragon co-founder and CEO John Aragon introduced a new self-custodial crypto wallet called Tuyo. This wallet, designed to be simple and user-friendly, promises an easy experience in the crypto world. It was unveiled two weeks ago, emerging from stealth mode.
The wallet allows users to buy, sell, and hold cryptocurrency. It has been in a private beta phase since February but was made accessible through a public waitlist two weeks ago. Jorge Izquierdo, the co-founder of Aragon, developed this wallet. Aragon is a project centered on DAOs and governance that has experienced significant fluctuations over several years.
Govern a protocol across chains and execute actions simultaneously with multichain governance ☑️
Reduce complexity and increase security for your DAO with the Aragon OSx permission management system + @LayerZero_Labs's OFT standard
Learn more: https://t.co/nc6dLFpz4t
— Aragon 🦅 (@AragonProject) May 15, 2024
With its solid foundation and support from a dedicated crypto community, ANT has the potential for substantial growth. If the current bullish trend in the crypto market continues, the average price of Aragon Coin could reach around $12 by 2024. On the other hand, if the market turns bearish, the minimum value of the EOS Coin might drop to as low as $2.99 in 2024.
3. Injective (INJ)
With a market cap to FDV ratio of 94%, INJ shows robust market health and less price suppression from unlocks. One market expert believes it’s ready for a comeback based on its solid fundamentals and recent market behaviors. Despite recent market fluctuations, Injective is preparing for a major expansion.
Injective is launching its layer-3 network in the Ethereum ecosystem, using technology from the Arbitrum layer-2 project. This “inEVM” project aims to make blockchain environments more interconnected. It’s compatible with Ethereum’s EVM, which is crucial for running smart contracts and will link Ethereum, Cosmos, and Solana, promoting interoperability.
Arbitrum’s Orbit toolkit will be the foundation of inEVM, offering scalable layer-2 solutions for developers to customize chains. This integration boosts Injective’s scalability and efficiency, ensuring blockchain network interoperability.
Injective is processing over 2.4M daily transactions 🚀
Without compromising performance:
✅ Subsecond execution times
✅ Near-zero fees https://t.co/Fnq77gCkBz— Injective 🥷 (@injective) May 21, 2024
Adopting Arbitrum’s technology could revive interest in the INJ token. Last year, its outstanding performance distinguished it in the digital asset markets. Introducing inEVM might reignite some enthusiasm, giving developers and investors fresh motivation.
Injective Protocol (INJ) underwent a significant 65% correction in the latest general crypto market downturn over ten weeks. This required the price to overcome several resistances to approach its all-time high again. The price has found its bottom and is trending upward. On Tuesday, $INJ rose more than 9%, indicating potential for continued positive price action.
4. Sealana (SEAL)
Sealana’s (SEAL) presale surpasses $2 million, and it seems ready to be the next crypto to soar in value. Sealana is a fun meme coin inspired by a patriotic, chubby American seal, similar to the character from South Park’s World of Warcraft.
During the Sealana presale, tokens are sold at a fixed price of $0.022 each. Investors can buy $SEAL using SOL, ETH, USDT, USDC, or fiat currency via a bank card. Sealana’s unique concept, tapping into American culture, has resonated with the crypto community, sparking interest and investment.
#Sealana and his closest bros are stormin’ the Capitol to defend all #Crypto patriots, Sealana and his $SEAL troops are fightin’ for our right to Lambos 🏎️, Gains 💸, and FREEDOM!! 💪🦭
Stand with Sealana! Join the #Presale, 💵 and restore the former glory of #Memecoins!💥 pic.twitter.com/Sv1fGVm8ry— Sealana (@Sealana_Token) May 20, 2024
The idea is simple yet captivating: feed Sealana SOL, fatten him up, and receive SEAL tokens directly into your wallet as a reward. With the presale crossing the $2 million milestone, excitement for Sealana’s market launch continues to grow.
The latest Solana meme coin seems well-placed to ride this wave of momentum. Previous successes of Solana meme coins like Slothana (SLOTH), which raised $15 million in its presale in just over four weeks, provide an encouraging precedent for Sealana.
5. Skale (SKL)
SKALE’s network is known for its zero-gas fee structure, which addresses the cost challenges that have historically impeded progress in combining AI and blockchain. By eliminating gas fees, SKALE makes it more affordable for AI innovations to thrive on the blockchain. This also speeds up transaction times, enhancing user experience and scalability.
SKALE (SKL) is a notable low-cap altcoin priced at $0.08701. It has lost over 31.46% of its value in the past month. SKL was a strong performer earlier in the season, increasing by 342% from a low of $0.0282 before the recent downturn.
They not like us.
No gimmicks or gas subsidies necessary, just long-term, sustainable savings for everyone 😤
Buildoors and enjoyoors see the latest #Staturday numbers 🚀
💰 $50,083,817 USD Saved on Gas
🔁 14,701,908 Transactions
👥 1.32M UAW pic.twitter.com/Vyim8zRuQS— SKALE (@SkaleNetwork) May 18, 2024
Despite this, the SKL price rose by 20.59% in the last 24 hours and is trading 134.19% above the 200-day SMA of $0.037505. The SKALE price prediction sentiment is bullish, and the Fear & Greed Index shows a score of 76 (Extreme Greed). This indicates increased token transactions and growing optimism for an uptrend.
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