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The recent drop in the value of BTC has been dubbed the biggest loss of value for the Giant crypto since the FTX collapse. In the early hours of today, BTC briefly fell below $62k before retracing to a higher value. Hence, investors are actively diversifying their portfolios to take a position in the next cryptocurrencies to explode before they become widespread.
The persistent decline of the token has created a dilemma in the market, with many speculating on further price decline in BTC value, while another section of investors are betting on a return to an uptrend.
Next Cryptocurrency To Explode
Conversely, recent trends show that opportunities abound for hybrid crypto projects. These are projects in sectors like RAWs or DePIN. Thus, it is a viable project to watch closely in the 5th Scape. The article presents a quick overview of its presale and all investors need to know about it.
1. Ondo (ONDO)
Ondo is taking a path slightly different from what’s seen in the crypto market. While overall trading volume and market cap are declining, the price of Ondo and its trading volume are rising. At the time of writing, there has been over a 132% increase in trading volume and over 41% price pump. More importantly, Ondo has consistently grown in price since its launch earlier in the year. Gradually, the value of ONDO is growing closer to its ATH. A little more push from the bulls, as little as a 14% price increase, will get it to a new ATH value.
One of the drivers of the surging price of the Ondo token is the growing interest in the RAW sector. Currently, ONDO is the leading project in the category, and it’s gaining the bulk of the attention of investors in the industry. Moreover, BlackRock, the world’s largest asset manager, recently became interested in the sector. To follow through on its plan, the company, in partnership with Securitize, has dedicated $100 million towards pursuing its interest in the industry.
Ondo Foundation would like to note in advance to the community that, in the near future, and on an ongoing basis, there will be a variety of large $ONDO transfers from escrow particularly related to:
(1) delivery of ONDO to private investors in Ondo Finance
(2) delivery of ONDO…— Ondo Foundation (@OndoFoundation) March 19, 2024
The arrival of the fund in the sector shows that there will be a long-term optimal performance for the asset in the industry. It indicates that ONDO has the potential to become one of the next cryptocurrencies to explode.
However, there’s a downside to the prospect of ONDO. As of the time of writing, the token has less than 20% of its total supply in circulation. The arrival of new tokens on the market can further dilute the value of its market cap. It is critical to consider this when deciding on the best strategy to apply to the project.
2. Stacks (STX)
Stacks is the 29th largest cryptocurrency in the world by market cap and one of the top gainers today. While the overall market performance is subpar, it printed over 9% gains in the last 24 hours. In addition, there’s an over 150% increase in the token’s trading volume, revealing that investors’ interest in the token remains relatively high.
Stacks is a layer two project built on the Bitcoin blockchain. With bitcoin trading at 15% below its ATH value, it is expected that STX would also do so. Hence, the sudden turn of events reinforces the belief that there might be a return to an uptrend for the giant crypto, BTC.
Investors should watch the STX trend as the token might become one of the next cryptocurrencies to explode. It’s unclear if the next face of its uptrend would yield multiple times the ROI on invested capital, but data from the STX chart shows that it is poised to sustain the current uptrend.
Bitcoin L2s are a gateway for velocity of on chain Bitcoin activity 🟧
– @primitivecrypto Founder @DoveyWan on Bitcoin L2s pic.twitter.com/D94dWsqu0j
— stacks.btc (@Stacks) March 19, 2024
The RSI indicator applied to its charts signals that the buy/sell pressure remains neutral, and its moving averages also signal a bullish trend. What’s been happening on the STX chart for the past 30 days shows that there’s been an accumulation. Thus, the current performance is likely the first shift from the sideways trend.
Ideally, it is best to include STX on the investor watchlist to capitalize on the future trend of the token. However, it’s equally essential to remember that the trends in the crypto market clearly show that it might be an inappropriate time to be overtly bullish, especially regarding assets in the BTC ecosystem.
3. 5th Scape (5SCAPE)
5th Scape is bringing a new narrative to the world of virtual reality. According to the project’s presale page, it taps into the existing trend in the VR/AR industry but with the disruptive innovation built on blockchain technology.
VR is the future. Learn how the University of National Horizons Centre is Leveraging VR & MR.#VR pic.twitter.com/PKBVqVYUwf
— 5th Scape (@5th_scape) March 20, 2024
However, the team behind this visionary concept is not willing to go the distance alone. Hence, crypto enthusiasts are offered the opportunity to tag along and benefit from the value they’re creating.
The 5SCAPE crypto offers investors an opportunity to own what’s currently being described as the first crypto-based VR network in the world. It signifies that the project swims in the same ocean as Apple and Meta.
Not only is 5th Scape bringing VR to crypto, but it is also opening the door to VR hardware technology as the project team plans to develop the vision’s hardware side. In the end, it’ll likely become the first project in recent times to tap into multiple sectors of the web3 movement. The details of the project are clearly outlined in its presale page.
4. WOO Network (WOO)
Over the past few days, WOO has been gathering momentum without drawing attention to itself. Even today, it secured its place as one of the top crypto gainers with over 5% price increase. That’s not the first gain for quant as the token recently completed over 100% price rally from its $0.3 value.
WOO resilience in the down market positions it as one of the tokens to watch. There are claims that it might become one of the next cryptocurrencies to explode. Moreover, data from its technical analysis agrees with the prospect of an uptrend.
Technically, there are bullish signals from the long-term moving averages, especially on the weekly time frame. Also, WOO’s trends are projected to resume the rally since its RSI values show that the token may be undervalued.
Investors can expect WOO to break the $0.6 resistance level with the next leg up. Breaking above the resistance means the token’s price might be headed towards the $0.8 – $0.9 range, over 100% above its current price.
Heads up: WOO X will undergo a short maintenance period today at 2pm UTC. Services will be offline for roughly 15-30 minutes while we push quick updates to the trading engine. https://t.co/zazgbwS3ZJ
— WOO X (@_WOO_X) March 18, 2024
Apart from its technical developments, other fundamental activities that have also contributed to the overall performance of the token include its array of crypto listings on its WooX platform, including cryptocurrencies that recently went viral. Also, WOOX has greatly contributed to the growth of the token and might play a key role in its journey to new heights.
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