{"id":556385,"date":"2024-07-24T04:27:13","date_gmt":"2024-07-24T04:27:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=556385"},"modified":"2024-07-24T04:27:13","modified_gmt":"2024-07-24T04:27:13","slug":"next-cryptocurrency-to-explode-tuesday-july-23-ethereum-name-service-ribbon-finance-convex-finance-maneki","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-tuesday-july-23-ethereum-name-service-ribbon-finance-convex-finance-maneki","title":{"rendered":"Next Cryptocurrency to Explode Tuesday, July 23 \u2014 Ethereum Name Service, Ribbon Finance, Convex Finance, Maneki"},"content":{"rendered":"

Cryptocurrency prices have been on the rise lately, and the overall feeling in the market is favorable. Recently, Bitcoin (BTC) has been hovering around $66.5K, and Ethereum (ETH) is striving to stabilize above $3,500, creating mixed sentiments among investors.<\/span><\/p>\n

However, identifying the <\/span>next cryptocurrencies to explode<\/span><\/a> might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token. <\/span><\/p>\n

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

Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Base Dawgz, one of the newest memecoin launches on the Base Network. It features a distinctive multi-chain experience with smooth interoperability across various blockchains. The details of its presale and the performance of the top-performing cryptos today are shared below.<\/span><\/p>\n

1. Ethereum Name Service (ENS)<\/b><\/h3>\n

ENS, a distributed naming system on the Ethereum blockchain, has recently gained significant attention. Since the start of the year, its price has hovered near a major resistance zone but has yet to break through. However, recent price movements suggest that the token could experience a healthy upswing soon, reaching the desired range quickly.<\/span><\/p>\n

Recently, the ENS price entered the critical resistance zone between $27.54 and $30.17. Although the token has struggled to break this range since the beginning of the year, technical indicators point to increasing bullish momentum. The RSI has bounced back from its average levels, and the Bollinger bands are about to expand from their contraction. This indicates that the bulls are preparing for a significant move, which could push the ENS price up to $35.<\/span><\/p>\n

\"Ethereum<\/p>\n

In the last 24 hours, the Ethereum Name Service price surged by 13.27%, reaching $30.05, with trading volume soaring by 183% to $382.723 million. While many of the top 100 cryptocurrencies by market capitalization are in the red, ENS has risen due to the US launching of spot ETH ETFs (exchange-traded funds).<\/span><\/p>\n

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We’re thrilled to have collaborated with @BitwiseInvest<\/a> to enhance transparency for their new Ethereum ETF using subnames of ethw.bitwise.eth!<\/p>\n

Bitwise is assigning subnames to all addresses holding onchain assets backing their ETF.<\/p>\n

ETHW is now the most crypto-native ETF 🫡 https:\/\/t.co\/lsPYAjRQk3<\/a><\/p>\n

— ens.eth (@ensdomains) July 23, 2024<\/a><\/p><\/blockquote>\n