{"id":556846,"date":"2024-07-24T20:26:22","date_gmt":"2024-07-24T20:26:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=556846"},"modified":"2024-07-24T20:26:22","modified_gmt":"2024-07-24T20:26:22","slug":"next-cryptocurrency-to-explode-wednesday-july-24-ethena-stormx-superverse-golem","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-wednesday-july-24-ethena-stormx-superverse-golem","title":{"rendered":"Next Cryptocurrency to Explode Wednesday, July 24 \u2014 Ethena, StormX, SuperVerse, Golem"},"content":{"rendered":"

The altcoin sector is gaining attention, and various parts of the crypto world are seeing a resurgence in demand. Similarly, Metaverse tokens are picking up speed, hinting at an upcoming bull run and signaling the potential start of an altseason.<\/span><\/p>\n

With expectations of a bull market, altcoins are poised for significant gains this week. Analysts think this might produce more <\/span>explosive performance<\/span><\/a> for meme coins, too. However, Bitcoin’s dominance has overall gone up this year, showing that the market is mixed.<\/span><\/p>\n

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

Attention in the crypto market in the coming month will be directed toward altcoins and meme coins as the market anticipates a bull run. Investors can capitalize on the moment and take a position in upcoming tokens like the 99Bitcoins token. 99Bitcoins token\u2019s transition from the ERC-20 to the BRC20 token standard enables developers to create a new token standard. This post covers the details of its presale.<\/span><\/p>\n

1. Ethena (ENA)<\/b><\/h3>\n

Many tokens in the Ethereum ecosystem surged yesterday after it was confirmed that ETH ETFs will start trading. Ethena joined ARB, ENS, ETC in this rally today. The ENA price was steady yesterday but jumped 10% this morning, now trading around $0.47.<\/span><\/p>\n

Recently, ENA traded under bearish conditions and experienced a 12.73% correction over the past 30 days. However, the ENA price has regained momentum, increasing by 11.01% in the past day with a trading volume of $148.13 million, a 78.84% increase. Currently, ENA is trading at $0.4941, with a circulating supply of 1,710,937,500 ENA and 15 billion ENA tokens. This gives Ethena a market capitalization of $844.84 million, placing it at 81st.<\/span><\/p>\n

\"Ethena<\/p>\n

The Simple Moving Average (SMA) is close to showing a bullish convergence in the 1D time frame, indicating increased buying pressure over selling pressure. Additionally, the RSI indicator has gained momentum, rising sharply towards its midpoint, suggesting a strong bullish outlook for the ENA price.<\/span><\/p>\n

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Introducing the Ethena reward-bearing asset proposals, with entities pitching for an allocation from Ethena's liquid cash backing<\/p>\n

One of the early applications is from Securitize, the distributors of @BlackRock<\/a>'s BUIDL, for an allocation from Ethena's Reserve Fund<\/p>\n

Details below pic.twitter.com\/YZIhWqBEQE<\/a><\/p>\n

— Ethena Labs (@ethena_labs) July 23, 2024<\/a><\/p><\/blockquote>\n