{"id":595833,"date":"2024-11-07T20:36:58","date_gmt":"2024-11-07T20:36:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=595833"},"modified":"2024-11-07T20:36:58","modified_gmt":"2024-11-07T20:36:58","slug":"next-cryptocurrency-to-explode-november-7-raydium-starknet-eigenlayer","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/next-cryptocurrency-to-explode-november-7-raydium-starknet-eigenlayer","title":{"rendered":"Next Cryptocurrency to Explode, November 7 \u2014 Raydium, Starknet, EigenLayer"},"content":{"rendered":"

The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to stay above its all-time high of $73K as it hovers around 74K. However, the market looks bullish, so investors and analysts are optimistic. Investors need to stay alert during this consolidation phase, as it could be a chance to catch a ride on a rising trend.<\/span><\/p>\n

Prices of various altcoins are already showing positive movements, even before the market takes off entirely. Today’s article will identify the <\/span>next cryptocurrencies to explode<\/span><\/a> and inform investors and traders about each token.<\/span><\/p>\n

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

Savvy investors anticipate a boom in the altcoin market and taking positions in upcoming tokens like the Crypto All-Stars. The project aims to revolutionize the meme coin space with its groundbreaking MemeVault Ecosystem. This post covers the details of its presale.<\/span><\/p>\n

1. Raydium (RAY)<\/b><\/h3>\n

On Thursday, November 7, Raydium (RAY) crossed the $5 mark after a 27% increase in 24 hours. Several other altcoins, including Starknet and EigenLayer, surged as the crypto market opened. Raydium’s price gained 51% over the past week, climbing from $3.213 to $5.05.<\/span><\/p>\n

Several factors contributed to this rise in RAY’s value. One major factor was Kraken Pro’s addition of RAY futures trading on October 25, which increased its trading options. The platform’s October 23 upgrade improved liquidity and swap speeds, boosting transaction volume.<\/span><\/p>\n

\"RAY<\/p>\n

Raydium is now the third-highest decentralized exchange (DEX) by daily trading volume. This price surge has also placed Raydium among Solana’s top five DeFi protocols. According to DeFiLlama, Raydium is now fifth in total value locked (TVL), which jumped over 30% in the past month, pushing it above $1.50 billion.<\/span><\/p>\n

Raydium’s price chart shows a promising candlestick pattern, indicating strong buying activity with only minor pullbacks. This aligns well with the overall bullish sentiment traders currently have for RAY. Unlike many assets that merely survive market dips, Raydium stands out with high trading volumes and rapid price shifts, highlighting its leadership in the fast-paced crypto space.<\/span><\/p>\n

Additionally, growing institutional interest in Solana could positively impact Raydium. With more institutional involvement, Raydium’s market share may grow, potentially boosting its token value. The technical indicators also remain supportive. The alignment of short- and long-term moving averages suggests ongoing buying pressure, and the current momentum shows little sign of slowing down.<\/span><\/p>\n

2. Starknet (STRK)<\/b><\/h3>\n

Starknet (STRK) has seen steady growth over the past month, rising by 4.06% to reach $0.4095 at the time of writing. This includes a weekly gain of 7.14% and a 24-hour increase of 7.98%, reflecting a strong upward trend. Additionally, the RSI and Stochastic indicators, at 44.57 and 46.16, show that Starknet is neither overbought nor oversold, signaling stable trading activity.<\/span><\/p>\n

\"STRK<\/p>\n

Starknet, a zero-knowledge rollup network, has set a new benchmark for transaction speed and efficiency among Ethereum layer-2 networks. A week ago, it broke the transactions per second (TPS) record by reaching 127.5 TPS in a single day, surpassing Coinbase’s Base, which previously held the record at 79.92 TPS. This milestone was achieved during a gaming simulation that tested Starknet’s ability to handle high transaction volumes, highlighting its potential for scalability in high-demand scenarios.<\/span><\/p>\n

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Starknet’s UX and performance are now among the best in the space.<\/p>\n

To widen the gap, StarkWare is shifting focus to fee reduction while keeping Cairo-Native and Stwo in the menu.<\/p>\n

ELI5: gas fees on Starknet stay low, even if blobs price brrrrrr, unlike other L2s. https:\/\/t.co\/tA8ZGz762Y<\/a><\/p>\n

— Brother Starknet_Uncensored (@Starkunfiltered) November 6, 2024<\/a><\/p><\/blockquote>\n