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The altcoin market looks like some coins are trying to bounce back. Investors need to stay alert during this consolidation phase, as it could be a chance to ride a rising trend.
Institutional investors are now paying more attention to interoperability and tokenizing real-world assets. Prices of these assets are climbing, even before the market takes off entirely. The objective is to identify the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Attention in the crypto market in the coming month will go toward the altcoin and meme coin sectors and making the most of the altcoin market. Hence, investors can capitalize on the moment and take a position in upcoming tokens like PlayDoge. PlayDoge is a new Doge meme coin that uses play-to-earn technology to create a gaming economy with real monetizable value. This post covers the details of its presale.
1. HTX (HTX)
HTX’s price today stands at $0.051449, reflecting a 15.66% increase in the last 24 hours. Despite this rise, the token is trading 3.67% below its recent cycle high and 80.09% above its cycle low. This suggests that if the market remains bullish, HTX could retest and even surpass its all-time high.
The sentiment surrounding HTX’s price prediction is currently bullish, even though the Fear & Greed Index shows a reading of 27, indicating fear. However, HTX is actively working on various infrastructures to enhance its relevance and utility within the crypto community.
For example, HTX Ventures is focused on developing multichain infrastructure to address the fragmentation in the current blockchain landscape. Many layer-1 and layer-2 networks operate independently, leading to inefficiencies. HTX Ventures has invested in projects like Monad and Avail to tackle these challenges.
Moreover, HTX Ventures recognizes the need for advanced blockchain solutions to be accessible and user-friendly to achieve widespread adoption. This has led to investments in projects like Tomo, a Web3 social application that enhances user interactions by transforming users’ online presence into a universal social wallet and embedding financial incentives into social activities.
Additionally, HTX Ventures’ investment strategy focuses on supporting projects that contribute to the long-term growth of the blockchain ecosystem. The firm currently backs over 300 projects across various blockchain sectors, with several already trading on the HTX exchange. In the first half of 2024, HTX Ventures continued to invest in high-potential projects, reinforcing its position as a key investor in the blockchain space.
2. Algorand (ALGO)
Algorand’s technology makes it a compelling choice for investors and developers focused on smart contracts and blockchain interoperability. In a 2019 video, Gary Gensler, the SEC chair, praised Algorand as a prime example of decentralization in cryptocurrencies.
As of August 21, ALGO’s price has risen by 3.53%, currently trading around $0.1321. The cryptocurrency holds a market capitalization of $1.1 billion and a trading volume of $30.88 million despite a slight drop of 3.21% over the past day. According to our technical indicators, ALGO’s sentiment is neutral, with the fear and greed index reflecting a cautious mood among investors. Analysis by Intotheblock reveals that 95% of holders are currently at a loss, which may worsen in the short term but is expected to improve over time.
When blockchain meets the real world, only Algorand delivers 🍦 pic.twitter.com/L4h3GI0j4Z
— Algorand Foundation 🐍 (@AlgoFoundation) August 16, 2024
ALGO has gained positive momentum in the last week as it searches for its next breakout direction. The RSI is trending higher, suggesting a possible upward movement. By 2025, experts predict ALGO could reach a high of $0.2587, with a minimum price of $0.2101 and an average of $0.2179.
Algorand’s innovative proof-of-stake consensus mechanism once made it a strong investment. However, recent low user adoption has led to a less active ecosystem than its competitors. Algorand’s transaction volume and total value locked (TVL) lag behind others, raising concerns about its future. Despite these challenges, recent developments have rekindled interest in Algorand, as its unique PoS mechanism continues to attract investors.
3. PlayDoge (PLAY)
After nearly three months of fundraising, PlayDoge ($DOGE) is entering the final stretch of its presale, with only four days left before its new play-to-earn (P2E) game launches. On August 16, the project announced that the presale would end on August 26 at 10 am UTC due to faster-than-expected game development progress.
The upcoming game, a crypto-themed version of Tamagotchi, is set to launch on Google Play and the Apple App Store. The project has already raised over $6 million, fueled by excitement from the PlayDoge community. Teasers released on X showcase more dynamic and vibrant gameplay than the original Bandai version, further boosting anticipation.
PlayDoge stands out from Tamagotchi by rewarding players with $PLAY tokens for their pet-care efforts, giving real value to their in-game activities. This P2E element allows PlayDoge to tap into a market expected to reach $6.3 billion by 2031. Additionally, its nostalgic appeal can attract fans of the original digital pet game, which sold 91 million devices by June 2023.
The end of the #presale is getting nearer…👀
Will you be spraying $PLAY bottles with the rest of us degens?! 🍾
Last calls 🚨 👇 https://t.co/JT0VEofqf2 pic.twitter.com/AhCqRKMxKO
— PlayDoge (@PlayDogeGame) August 18, 2024
One of the most appealing aspects of PlayDoge is that it lets crypto enthusiasts connect with their favorite dog breeds personally while earning $PLAY. This feature hints at significant investment potential, as the initial funds raised are just the beginning of what $PLAY could offer.
The presale has reached $6.15 million, and with a target of $6.735 million, it will likely sell out before the August 26 deadline. As the presale nears its end, the rate of purchases is expected to accelerate. Token claiming and DEX listings are anticipated shortly after. Investors still have a chance to buy $PLAY at the final price of $0.00531 per token.
4. Beldex (BDX)
Beldex is a privacy-focused ecosystem that protects online interactions through decentralized applications (dApps). Its blockchain uses advanced privacy technologies like the RingCT protocol, ring signatures, and the CryptoNight hashing algorithm, making transactions nearly impossible to trace. This commitment to privacy extends to its dApps, such as BChat for anonymous messaging, BelNet for private VPN services, and the Beldex Browser.
Moreover, Beldex excels in cross-chain anonymity and interoperability with its Beldex bridge, which integrates with BNB Smart Chain. The transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) has improved the scalability of BDX tokens, reduced fees, and enhanced transaction speeds. Users can also run masternodes with 10,000 BDX to validate transactions and stake BDX.
Beldex has risen by approximately 3% in the past day, adding over 3.5% in the past seven days and 17.41% in the past 30 days. It has also rewarded long-term investors with a year-to-date return of 18.76%—the Relative Strength Index (RSI) hovers close to the overbought range, indicating increased price volatility. However, the average trendline shows a bearish crossover, signaling uncertainty in future price movements.
We are thrilled to announce the winners of AMA with
our community. #Beldex
Thank you to everyone who participated.
The community’s enthusiasm was incredible!
🎖️winners: DM us to claim your #Rewards@InfoSignifier @SorenKartick @FamousZXE @BlessedManish @Sabx33 @vendetta304… https://t.co/LK0Cgsctwi— Beldex.bdx (@BeldexCoin) August 16, 2024
Furthermore, Beldex has low liquidity, with a volume-to-market cap ratio of 0.0032. Over the past year, its price has increased by 58.62%, outperforming over 45% of the top 100 crypto assets. If the bulls regain momentum, BDX could be one of the next cryptocurrencies to explode.
5. Curve DAO Token (CRV)
Curve DAO (CRV) recently experienced a price drop, which could present a buying opportunity for investors. This altcoin is facing market volatility that aligns with broader market trends. However, for those who missed the initial dip, this correction might offer a chance to enter at a strategic price point. Currently, CRV’s price aligns with a previously identified demand zone, suggesting potential support where significant buying interest has occurred before.
In the last 24 hours, CRV saw an impressive 11% price surge and a 13% rise over the past week. This increase follows a drop in the token’s inflation rate to 6.35% on August 12, which reignited investor interest and positioned CRV for potential further growth. A lower inflation rate typically means fewer new CRV tokens enter the market, contributing to the price rise.
The expected reduction in token supply could positively impact CRV’s price, which has fallen over 95% since its inception. Generally, a decrease in supply and rising demand lead to a price increase. On August 13, rumors about the drop in CRV’s inflation rate spurred trading activities, causing daily trading volume to jump by 103% to $244 million, reaching a two-month high. This surge in trading volume highlights strong market interest in the DeFi token and supports the recent double-digit price increase.
crvUSD price seems fairly stable on peg recently. That's no coincidence: it is rock stable when pegkeepers are not empty (which is, when market borrow rates are not too high!) pic.twitter.com/TvA0A76mwQ
— Curve Finance (@CurveFinance) August 21, 2024
If CRV maintains its bullish momentum and surpasses Leadership Area B on the Ichimoku Cloud, the token could reach $0.44 or even rise to $0.54. However, if the market turns bearish, the price might drop below the Ichimoku Cloud, potentially falling to $0.18.
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