Next Cryptocurrency to Explode Wednesday 29 November - Launchpad XYZ, Chainlink, Sei

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The latest market report shows that the global cryptocurrency market has steadily grown. It reached a market cap of $1.43 trillion, marking a 1.40% increase in the last 24 hours.

Over the same period, the total crypto market volume surged to $52.39 billion, indicating a notable 3.79% uptick. Within this volume, decentralized finance contributed $4.86 billion, accounting for 9.29% of the total crypto market’s 24-hour volume. Meanwhile, stablecoins showcased dominance, comprising $47.69 billion, equivalent to 91.03% of the entire crypto market’s 24-hour volume.

Bitcoin has seen its dominance rise to 51.99%, reflecting a 0.38% increase over the day. The next cryptocurrency to explode explores more assets worth investors’ consideration.

As the market maintains its upward trajectory, investors and analysts are closely monitoring these trends, anticipating further developments and shifts in the ever-evolving crypto landscape.

On the stock market scene, Asian stocks briefly surged to one-week highs, triggering a rally in bonds and a decline in the dollar following indications of potential U.S. interest rate reductions. The New Zealand dollar also saw a notable leap after its central bank hinted at the possibility of further rate hikes if inflation persists.

In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed by 0.5%. However, a downturn in Hong Kong’s tech shares resulted in the index retracting to a flat position.

Conversely, Japan’s Nikkei (.N225) experienced a 0.2% decline. Meanwhile, the New Zealand dollar surged by 1.1%, reaching a four-month high of $0.6207, surpassing previous resistance levels.

The overnight statements from Fed Governor Christopher Waller, previously known for a hawkish stance at the U.S. central bank, added momentum. Waller suggested that rate cuts might commence within months, contingent on a sustained decline in inflation.

Next Cryptocurrency to Explode

Following Waller’s remarks, Fed funds futures rallied, pricing in a probability of over a hundred basis points of cuts in 2024, with a 40% chance that they could initiate as early as March. Consequently, two-year Treasury yields sharply declined, and the Dollar weakened across Asian markets.

1. Chainlink (LINK)

Despite recent market volatility triggered by regulatory issues at Binance and discussions around exchange-traded funds (ETFs), Chainlink (LINK) continues to exhibit a bullish trend. The token’s resilience stands out, with a noteworthy rebound above a crucial support level, fueled by optimism stemming from the rollout of the Chainlink staking v0.2 priority migration.

The latest v0.2 migration for Chainlink (LINK) has been successfully initiated, introducing an upgraded staking platform with enhanced flexibility for stakers. This upgrade not only assures improved security measures but also offers a modular framework and a dynamic rewards system. All these facilitate its efforts to become the next cryptocurrency to explode.

In this protocol enhancement, the v0.2 upgrade launch begins with a nine-day “Priority Migration” phase, allowing existing v0.1 stakers to transition their staked LINK tokens and accrued rewards to the new v0.2 system.

The primary objective of this upgrade is to gradually broaden participation. The schedule outlines Early Access and General Access periods scheduled between December 7 and December 11, respectively.

At present, the Chainlink (LINK) price is holding firm above the 25-day Exponential Moving Average (EMA), providing crucial support at $13.750. The upward trajectory of the EMAs, alongside the Relative Strength Index (RSI), indicates a path of least resistance trending upwards.

Further upward momentum in buying activity could propel Chainlink’s price into the supply zone ranging from $14.691 to $16.477. Confirmation of a sustained upward movement necessitates a breakout and closure above the midline of the specified order block, positioned above $15.576.

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This new report by leading financial intelligence company @SPGlobal highlights #Chainlink’s security advantages, dominance in DeFi, & growing role in capital markets: https://t.co/AJNSE44ohk pic.twitter.com/wmL4ecCEqU

— Chainlink (@chainlink) November 28, 2023

In an extremely bullish scenario, Chainlink’s price surge might push past the supply zone, potentially breaching the $16.600 range high, marking a 13% increase from current levels. Supporting this bullish sentiment, the RSI showcases an upward trajectory, hinting at escalating momentum. Crossing above the signal line (yellow band) historically signals a buying opportunity, typically followed by a substantial upward move.

Additionally, the Awesome Oscillator (AO) remains in the positive territory above the midline, reinforcing the dominance of bulls in the LINK market and substantiating the optimistic outlook.

On the contrary, profit-taking activities could cause Chainlink’s price to dip below the 25-day EMA at $13.750. This might expose it to support levels at the 50-, 100-, and 200-day EMAs, positioned at $12.276, $10.419, and $8.939, respectively. Failure to hold these support levels could lead to a retracement to early October highs at $8.148, possibly revisiting consolidation levels above $5.565.

2. Launchpad XYZ (LPX)

Launchpad XYZ (LPX) is a burgeoning crypto platform advancing through its presale phase. LPX, the native token of Launchpad XYZ, has witnessed substantial demand within the ongoing presale, surpassing a fundraising milestone of over $2 million. The speed of its development places it at the forefront of the next cryptocurrency to explode.

💥 Live the life of an empowered trader. #LaunchpadXYZ brings you the tools for confident trading 🚀 #Trading #Blockchain #Presale pic.twitter.com/qcp3QQBs9g

— Launchpad.xyz (@launchpadlpx) November 28, 2023

This comprehensive platform aims to democratize Web3 accessibility for a broader audience, simplifying engagement across DeFi, cryptocurrency, the metaverse, and NFT sectors.

Owning LPX tokens offers numerous advantages within the platform, encompassing discounted subscriptions, reduced trading fees, and priority access to upcoming crypto presales. Furthermore, LPX holders can engage in staking to receive long-term rewards.

The Launchpad XYZ platform integrates an array of tools and functionalities, including educational materials, AI-driven analytics, metaverse integration, and expert market insights.

Acknowledging its potential to overcome crucial obstacles hindering mainstream crypto adoption, Launchpad XYZ has garnered acclaim from novice to intermediate investors.

The Launchpad XYZ whitepaper outlines the developers’ strategy to list LPX on various Centralized Exchanges (CEXs), aiming to enhance token accessibility. Early supporters view this juncture as pivotal in LPX’s trajectory, positioning it as a token of interest for investors monitoring developments in November.

Visit Launchpad XYZ.

3. Sei (SEI)

Sei (SEI) is also poised to be the next cryptocurrency to explode today as it undergoes an exceptional surge in its market valuation, seeing an astounding 82% spike in just seven days. This remarkable growth can be attributed to a strategic investment from Circle, a prominent entity within the cryptocurrency realm. Circle’s investment, coupled with the incorporation of the USD Coin (USDC) onto Sei’s blockchain, has been instrumental in propelling this rapid ascent.

The price of Sei (SEI) has soared to $0.29, signifying a significant milestone for the token. This surge isn’t merely a momentary upturn but a sustained elevation over a week, indicating robust market confidence in Sei’s potential. The integration of USDC, a widely accepted stablecoin, likely contributes to this solidity and liquidity, further bolstering investor trust.

With its recent performance and strategic alliances, the future appears promising for Sei (SEI). The amalgamation with USDC and the substantial support from Circle lay a sturdy groundwork for continual expansion and advancement.

4. Terra Classic (LUNC)

During the last 30 days, LUNC has undergone a notable surge, boasting a reported 97.22% surge in its value, sparking debates on whether this spike is a transient uptick or the inception of a sustainable upward trajectory.

The surge in LUNC’s value can be chiefly attributed to significant developments within the Terra ecosystem. Terra Classic Labs strategically invested around $500,000 in TerraClassicUSD (USTC), the algorithmic stablecoin associated with the Terra platform.

This injection of capital is perceived as a confidence-boosting maneuver that likely contributed to the recent price rally. Moreover, the Terra Classic community has united in supporting the token, mobilizing efforts to rejuvenate the struggling assets. This has resulted in remarkable price growth for both USTC and LUNC within a single weekend.

Terra Classic Community,

Due to the recent increase in #USTC , APR on staking is currently 29.6% $LUNC #USTC #LUNC #LunaClassic https://t.co/wkgCHlo6xv

— Terra Classic Community (@marketinglunc) November 28, 2023

A pivotal driver behind this rally is a substantial token burn. A staggering 78.24 billion LUNC tokens have been eliminated, reducing the circulating supply to 5.8 trillion and potentially intensifying upward pressure on the token’s price. Token burning, a common strategy in the cryptocurrency industry, aims to manage inflation and enhance token value by diminishing the supply.

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