{"id":449891,"date":"2023-10-20T14:26:53","date_gmt":"2023-10-20T14:26:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=449891"},"modified":"2023-10-20T14:26:53","modified_gmt":"2023-10-20T14:26:53","slug":"next-cryptocurrency-to-explode-friday-20-october-bitcoin-minetrix-solana-xrp","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-friday-20-october-bitcoin-minetrix-solana-xrp","title":{"rendered":"Next Cryptocurrency to Explode Friday 20 October – Bitcoin Minetrix, Solana, XRP"},"content":{"rendered":"

The crypto market capitalization surged in the <\/span>last 24 hours<\/span><\/a> to an impressive $1.11 trillion, marking a 2.64% gain. This surge highlights the continued interest and investment in the crypto market. The solid interest brings several tokens to the fore as the<\/span> next cryptocurrencies to explode. The market’s trading volumes also showed growth, with a total volume of $43.3 billion in the past day, representing an increase of 10.77%. <\/span><\/p>\n

Decentralized finance gained momentum, with a current 24-hour trading volume of $2.14 billion, accounting for 4.94% of the total crypto market trading volume. Stablecoins equally reached a total trading volume of $40.25 billion, comprising an impressive 92.94% of the overall crypto market 24-hour trading volume. <\/span><\/p>\n

Bitcoin maintains its dominance in the market, with a current dominance percentage of 51.45%. This marks a daily increase of 0.25%.<\/span><\/p>\n

On Friday, Asian <\/span>shares<\/span><\/a> plunged to 11-month lows, primarily due to the relentless surge in long-term US yields, which placed pressure on valuations and led investors to adopt a risk-averse stance. These market jitters were further compounded by mounting concerns that Israel’s ongoing conflict with Hamas could ignite a broader conflagration in the Middle East.<\/span><\/p>\n

Next Cryptocurrency to Explode<\/b><\/h2>\n

In Europe, the sentiment was equally somber, with EUROSTOXX 50 futures declining by 0.6% and FTSE futures falling by 0.4%. In the US, S&P 500 futures experienced a 0.1% dip, while Nasdaq futures were down by 0.3%.<\/span><\/p>\n

The overnight surge in the 10-year US benchmark yield, briefly touching 5%, has led to increased borrowing costs on a global scale. Meanwhile, the Bank of Japan took action in the Japanese government bond market as the 10-year bond yield reached its highest point in a decade.<\/span><\/p>\n

1. Solana (SOL)<\/b><\/h3>\n

Solana (SOL) has emerged as the top gainer among the top 10 crypto projects, showcasing remarkable gains. In the last 24 hours, the token’s price has soared by more than 10.1%, and it gained 22.7% in a week. SOL is not just the <\/span>next cryptocurrency to explode; instead, it is currently exploding.<\/span><\/p>\n

The recent surge in Solana’s price is attributed in part to the US SEC withdrawing its lawsuit against Ripple executives. Concurrently, the US Dollar has reached its 2023 high, typically signaling a bearish trend for cryptocurrencies. However, it’s noteworthy that Santiment has observed a unique trend where “digital gold and physical gold are moving up in tandem.”<\/span><\/p>\n

\"SOL<\/p>\n

Year-to-date, SOL has seen an impressive uptrend, with a growth rate of nearly 165%, surpassing the approximately 76% growth seen in Bitcoin (BTC) during the same period. This achievement is particularly praiseworthy, considering that Solana faced significant challenges following the collapse of FTX. Its price tumbled from a high of $36.72 on November 6, 2022, to a low of $9.77 by late December. Nevertheless, the project demonstrated exceptional resilience, continued to innovate, and persevered through adversity.<\/span><\/p>\n

Machine learning algorithms at PricePredictions foresee a bullish outlook for Solana (SOL) in November, with a projected price of $28.18 on November 19, indicating a growth of 6.7%.<\/span><\/p>\n

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Thanks to all the builders who participated in the Solana Hyperdrive Hackathon! 💫<\/p>\n

There were a record number of submissions and judging is now underway.<\/p>\n

Browse all the projects! ⬇️https:\/\/t.co\/GG48GZWCM0<\/a> pic.twitter.com\/BVokCsWBI4<\/a><\/p>\n

— Solana (@solana) October 20, 2023<\/a><\/p><\/blockquote>\n