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It’s not business as usual in the crypto market, as the atmosphere worsened yesterday. After brief explosive gains that took the price of BTC to a new all-time high value of $69,000, it tumbled into a significant pullback. The occurrence resulted in a massive decline in cryptos prices and liquidation of over 750 million across the board.
The impact of the price decline resonates across the board as the holders of BTC and altcoins appear to succumb to a momentary FUD. The situation’s outcome remains unclear as the market has yet to settle for a specific direction.
Next Cryptocurrency To Explode
It’s that time in the market when investors and traders take a position to either edge their gains or capitalize on emerging trends. Experts believe investors have a better chance of finding the next cryptocurrencies to explode among upcoming crypto projects. With that in mind, investors should explore the potential of Bitcoin Minitrix. The project team and its community have conducted a remarkable presale offering with millions of dollars committed. Updates on the project and its prospects are shared below.
1. Ethereum (ETH)
Even though the trends of Ethereum in this bull market have been eventful, its current price hardly reflects its actual value. With many catalysts still ahead, traders and investors should expect a pump in ETH’s price in the coming weeks as the platform draws closer to the Dencum upgrade and the ETH ETF announcement.
After a significant pullback yesterday, the price of ETH is trending upward again, with over 12% gains. Its trading volume is also up by over 57%. Despite the bears’ activities, deterring the ongoing ETH uptrend is impossible as its eyes are set on establishing a new ATH.
Will ETH become the next cryptocurrency to explode? It’s hard to argue that ETH is on the path to establishing its dominance in the crypto market based on its current market trends. At the time of writing, the price of ETH is only 21% away from its ATH. The debut of the Dencun upgrade could act as the catalyst to push the asset’s price beyond its current ATH.
Latest Week in Ethereum Newshttps://t.co/1Jtp6EWZix
— Week in Ethereum News (@WeekInEthNews) March 2, 2024
As the trends unfold, the bulls have an eye on the $3900 mark, which is crucial. Breaking above the price would give the bulls enough momentum to increase the price. However, a pullback point can create FUD since the price of Bitcoin faced a sudden decline after it reached its ATH. It’s best to take adequate measures ahead of the price action to forestall possible shocks from price fluctuations.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix has a significant role in the current market trend and the bull market’s future. The project’s strength comes from its focus on a decentralized Bitcoin mining technology. Given the dominant energy-intensive mining methods in the industry, a new approach like the one proposed by the Bitcoin Minetrix is long overdue.
Stage 30 of #BitcoinMinetrix is live! 🚀
➡️ Only 10 stages left now! pic.twitter.com/R9xQWBsssA
— Bitcoinminetrix (@bitcoinminetrix) March 6, 2024
With the project, investors only have to hold the project’s token, BTCMTX, to mine Bitcoin. For as low as $10, anyone can become a miner. This initiative starkly contrasts the current structure that requires enormous capital from anyone taking the journey.
Furthermore, the approach to mining also has lesser energy requirements. It leverages cloud computing services, meaning the mining process becomes democratized. Anyone from any part of the world can hop on board and become a winner by only owning the BTCMTX token. Ultimately, as the project takes off, the team and community will amass enough resources to combat the dominance of the established systems.
The project is currently offering its token, the BTCMTX, on presale, and it’s only ten stages to the end of the presale. Now is the best time for anyone considering participating in the mission and joining the next iteration in crypto mining to get on board.
Visit the Bitcoin Minetrix Presale
3. Fetch.ai (FET)
Recently, FET has repeatedly outperformed its ATH value as it sets new ones. At press time, FET had a price of $2.1, 62% higher than the price recorded about seven days ago. Interestingly, the gains are far from over.
According to data from its market data, FET might maintain its current performance as several of its oscillators remain bullish. The moving averages of the token also show that the price might continue its uptrend in the coming weeks.
Is FET the next crypto to explode? Given the current price actions and market data, FET still has enough room for an upward trend. Investors’ interest in the token is rising, and there’s been a significant rise in its social mentions.
However, investors should also trade cautiously as the current price signifies that FET might soon reverse. The readings from its RSI show that the token is overvalued at its current price and might quickly fall. Nevertheless, the overall performance of crypto AI sectors may provide a conduit for the FET token against price decline.
4. Aptos (APT)
Aptos has recently emerged as one of the top-performing cryptocurrencies in the market, owing to its consistently impressive performance. APT has maintained an uptrend for weeks, adding over 300% to the asset’s price.
Current data from its chart shows that APT gains are far from over. In the last 24 hours, APT recorded a price increase of around 5%, complemented by a trading volume pump of over 130%. The growing pressure recorded by the token would likely result in continued upward price movement in the coming days.
Besides the potential for more positive price action from the bull market, APT is also on track to tap into an emerging trend. It is partnering with upcoming projects in the artificial intelligence and the DePIN sectors, IONET.
A post on its official Twitter handle highlights its recent support for a decentralized GPU network, a confluence between DePIN and AI. Such projects would drive APT’s value even long after the bull run dies out.
We’re excited to work with @ionet_official to tackle the AI compute shortage – unlocking GPU resources at a fraction of the cost on @Aptos.
Get ready to build and scale AI models effortlessly on “The Internet of GPUs”. https://t.co/QPqvZODZl7
— Aptos Labs (@AptosLabs) March 5, 2024
At the time of writing, APT remains one of the top cryptos to watch. Its critical indicators signal bullish momentum, and market sentiment towards APT remains optimistic. The short-term moving averages, as well as the long-term, remain bullish, with the current price trading above the values of the moving averages.
On the other hand, it is essential to watch out for the possible pullbacks that result from releasing fresh tokens into the market, as only about 37% of the total supply is currently in circulation.
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