Next Cryptocurrency to Explode Wednesday 11 October - Bitcoin Minetrix, Render, Solana

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The crypto market capitalization has experienced a further dip in the last 24 hours. It slid by 1.37% to bring the total value to $1.06 trillion.

The total crypto market volume has experienced a notable 11.49% decrease, settling at $25.66 billion. In the midst of this, the decentralized finance sector maintains its presence, with a total volume of $2.08 billion, representing 8.10% of the entire crypto market’s 24-hour volume.

Stablecoins, on the other hand, continue to assert their dominance, accounting for a significant 95.93% of the total crypto market’s 24-hour volume, amounting to $24.62 billion. These stable assets are favored for their reliability in the often turbulent cryptocurrency market.

Both asset classes have an equal ability to throw up the next cryptocurrency to explode at regular intervals.

Bitcoin currently holds a 50.06% dominance in the market, marking a minor decrease of 0.21% over the day.

Asian stock markets saw an upturn on Wednesday, and the US Dollar retreated as Federal Reserve officials became more dovish. This shift led traders to scale back their expectations for US interest rate hikes, albeit with a cautious outlook pending the release of US inflation data on Thursday.

The S&P 500 showed gains in the previous session, and MSCI’s broadest index of Asia-Pacific shares, excluding Japan, reached a two-week high with a 1.3% increase during morning trade. Japan’s Nikkei also posted a rise of 0.5%.

Next Cryptocurrency to Explode

Atlanta Fed President Raphael Bostic expressed his opinion on Tuesday, stating, “I actually don’t think we need to increase rates anymore,” which garnered applause from his audience at the American Bankers Association event in Nashville.

This statement aligns with the views of several other Fed officials who have recently pointed out that the recent increases in longer-term yields could effectively tighten financial conditions and curb inflation, potentially reducing the need for the central bank to adjust short-term interest rates significantly.

1. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix has reached a significant milestone in its presale, having raised over $980,000 in a few weeks of the campaign. At its current pace, it will cover its soft cap in no time. BTCMTX has consistently shown its strength and how it is the next cryptocurrency to explode.

#BitcoinMinetrix has once more crossed a crucial milestone! 🚀

We have raised over $900,000. pic.twitter.com/zWvJsUwiBb

— Bitcoinminetrix (@bitcoinminetrix) October 10, 2023

With its groundbreaking approach to cloud mining and a low entry point, Bitcoin Minetrix is poised to emerge as the next explosive success story in the world of cryptocurrencies, offering the prospect of substantial wealth creation.

The potential for substantial gains is readily apparent. Bitcoin Minetrix is well-positioned to enhance the user experience in the realm of Bitcoin mining, and its presale presents investors with an opportunity to enter at an exceptionally favorable initial price.

The presale comprises ten rounds, with each subsequent round featuring a 10% increase in token price. However, for those who take advantage of the current price of $0.011 per token, it’s worth noting that this represents the base price, and it will not be available at a lower cost than this initial stage.

One of the standout features of Bitcoin Minetrix is its decentralized cloud mining solution. This approach effectively addresses the common challenges associated with Bitcoin mining, including the high costs of hardware and the prevalence of fraudulent schemes. Users can purchase and stake BTCMTX tokens to acquire cloud mining credits, thereby ensuring a more secure and transparent mining process.

Bitcoin Minetrix’s innovative Stake-to-Mine concept effectively opens up the world of Bitcoin mining to all cryptocurrency enthusiasts. It offers users the opportunity to engage in this potentially lucrative activity without the need to grapple with technical complexities or invest heavily in costly hardware. Through this innovation, the project aims to democratize and make Bitcoin mining more accessible than ever before, ushering in a new era of inclusivity and opportunity.

Visit Bitcoin Minetrix.

2. Render (RNDR)

The RNDR token price has recently experienced a resurgence, propelling it to the ranks of the next cryptocurrency to explode. Notably, RNDR Token reached a peak of $1.91 on Monday, marking its highest valuation since July 20th. This impressive rally has seen the token surge by over 40% from its lowest point in August.

RNDR Token is the native cryptocurrency of the Render Network, a platform designed to revolutionize the creative industry. The platform’s unique approach involves establishing a network that grants individuals, particularly designers, access to high-quality GPUs without the burden of full pricing. This is achieved by leveraging blockchain technology to decentralize processing power.

The network allows anyone with surplus GPU power to share it with the community, earning a modest fee each time it’s utilized. This concept is akin to Filecoin, a platform that disrupted the storage service industry.

Render Network has earned recognition for being akin to the blockchain version of Nvidia, the world’s leading semiconductor company. Nevertheless, the exact number of users adopting this technology for their creative endeavors remains to be determined, as does the number of nodes on the platform.

Congrats to visionary artist, @refikanadol on the monumental milestone of AI data sculpture, 'Machine Hallucinations—MoMA' being acquired by @MuseumModernArt! 🎉

This historic sale not only celebrates Refik's remarkable journey in digital artistry but also marks a significant… https://t.co/ivXow8ouWU

— The Render Network (@rendernetwork) October 10, 2023

Analyzing the daily chart, RNDR’s cryptocurrency price has demonstrated notable strength over the past few weeks. It has surged from a low of $1.2643 to nearly $2. The token recently surpassed a critical resistance level at $1.6578, which marked the highest point since September 21st. Moreover, it has risen above both the 25-day and 50-day moving averages, as well as the 50% Fibonacci Retracement level.

Consequently, the outlook for RNDR Token appears bullish, with the following significant level of interest residing at $2.20, representing the highest point achieved in February. Confirmation of this outlook will come if the token surpasses the 61.8% Fibonacci Retracement level at $1.96. A prudent approach for traders in this market is setting a stop-loss at $1.65.

3. Request (REQ)

The Request (REQ) token is selling at $0.115227, with a 24-hour trading volume of $76.49 million. In the past 24 hours, REQ has seen an impressive price increase of 85.73%, and over the last seven days, it rose by 82.73%. With a circulating supply of 770 million REQ tokens, the current market capitalization for Request is valued at $89.19 million.

For those closely tracking the token, its daily trading volume is a noteworthy metric. Over the last 24 hours, it has amounted to $76.49 million, representing a 12,149.70% increase compared to the preceding day. This significant surge in trading activity shows growing interest in the REQ market.

Exploring the historical performance of REQ, its all-time high price reached $1.06 on January 6, 2018, nearly six years ago. In contrast, the current price represents a decline of 89.14% from that peak. On the flip side, the all-time low for REQ was recorded at $0.00454707 on March 13, 2020, more than three years ago. Presently, REQ’s value has surged impressively, standing at 2,429.06% higher than its all-time low.

Regarding market capitalization, Request (REQ) boasts a market capitalization of $89.19 million, securing its place as the 245th-ranked cryptocurrency on CoinGecko.

Our @ETHRome bounty winner is genuinely THE most degen project you'll find! Ever. Wondering why? 🧵 pic.twitter.com/ixu2dVbBlw

— Request Network (@RequestNetwork) October 10, 2023

The current market sentiment surrounding Request is notably positive. More than 78% of users express bullish opinions about Request (REQ) today. This optimism aligns with the recent surge in price, which has garnered increased attention and enthusiasm from the cryptocurrency community.

4. Solana (SOL)

Solana (SOL) is now cautiously navigating critical support levels now that it is recovering from a significant bearish downturn. Buyers are actively working to establish a solid foundation for a potential reversal, breathing new life into the bullish momentum.

In light of these developments, the Solana price forecast points towards a bullish trajectory for SOL in the forthcoming alt-season. It is when traders hope SOL will hit a bull run again now that it is the next cryptocurrency to explode.

Following a notable surge early in 2023, SOL’s price underwent a correction phase characterized by a descending channel. This bearish channel commenced after encountering resistance at the $30 mark, triggering a swift 35% correction down to $17.75.

However, a 10% surge within this descending channel, leading up to October 1st, resulted in a 35% upswing. Moreover, this uptrend broke through the critical resistance level at $20.

Recent price action for SOL reflects a pullback phase in response to pronounced resistance encountered at $25. This has led to a sideways trend, with SOL oscillating between the $22 support zone and the overhead resistance at $25.

Presently, the pullback phase serves as a retest of the earlier upside breakout, hinting at the possibility of a positive reversal. Supporting this notion, Solana’s price movement reveals the potential formation of a morning star pattern with the backing of the 200-day EMA (Exponential Moving Average).

📣 #Breakpoint2023 Ticket Giveaway!

Solana Breakpoint is quickly approaching in Amsterdam, and @SolanaFndn is giving away 5 free tickets!

To enter:

🔁 RT this post
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☀️Tell the world what’s possible on Solana in a comment below! (include… pic.twitter.com/MBep9vUx6V

— Solana (@solana) October 9, 2023

SOL’s current trading price stands at $22.15, displaying a slight 0.14% intraday growth along with two doji candles. This follows a sharp correction observed in the previous trading session, further suggesting the emergence of a morning star pattern.