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Digital assets have become an attractive option for investors looking for promising returns. Identifying the next cryptocurrency on the brink of explosive growth requires a careful understanding of market trends. Insidebitcions scours the crypto market to highlight specific cryptocurrencies that are expected to grow substantially.
Next cryptocurrency to explode
Since each project harbors unique features and promising developments, this article aims to shed light on the factors contributing to the explosive growth of these tokens. It analyzes the NEAR protocol’s 8.91% intraday increase and the consistent uptrend in the price of GRT. Additionally, Bitcoin Minetrix takes a closer look, highlighting its success as a presale in the cryptocurrency space.
1. NEAR Protocol (NEAR)
NEAR Protocol has been steadily gaining momentum and saw a 19% increase in intraday price. This follows a remarkable 300% increase since the rally began in October. Moreover, NEAR witnessed a substantial trading volume of $518 million in 24 hours, indicating significant market activity that could influence the price.
The continued bullish momentum suggests that NEAR bulls are actively driving the uptrend in the price. Furthermore, current sentiment in NEAR Protocol’s price forecast leans towards a bullish outlook. However, the Fear & Greed Index is 49, which indicates a neutral attitude.
While NEAR Protocol ranks 20th in the Layer 1 sector, its journey saw a 14% price increase last year. The project’s inflation rate, currently 20.99%, translates into the creation of N174.33 million in the last year. This figure underlines the dynamic nature of NEAR Protocol’s supply dynamics.
The token’s all-time high was recorded at $20.42 on January 16, 2022, and it was at a low of $0.526680 on November 4, 2020. The lowest price since the ATH was $0.972014, while the highest price since the last cycle low was $4.61. .
Why choose NEAR for data availability?
NEAR Protocol was built to give more than 1 billion users access to Web3.
Dive into the benefits of NEAR’s innovative solution for Ethereum rollups, which offers unparalleled scalability and affordability in the Web3 space.https://t.co/x2i7zvgkwH pic.twitter.com/C68GYvu4uc
— NEAR Protocol (@NEARProtocol) January 26, 2024
Moreover, recent market trends seem to confirm that the optimistic outlook for NEAR is far from over. The increase in the number of daily active users on the NEAR network further strengthens confidence among token holders and investors. However, it is essential to recognize potential obstacles on NEAR’s path to reaching new highs.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix is a tokenized cloud mining platform that aims to democratize Bitcoin (BTC) mining through decentralization. The platform token, BTCMTX, is currently offered at a discounted price of $0.0131. As of the last update, the project has successfully raised over $9,513,436.24 of its $10,326,940 goal.
#BitcoinMinetrix has successfully raised over $9,400,000! ???? pic.twitter.com/4jFDiFu5wJ
— Bitcoinminetrix (@bitcoinminetrix) January 26, 2024
Moreover, Bitcoin Minetrix emphasizes a community-oriented approach. A significant portion of the token supply will be available during the presale, with additional allocations earmarked for marketing, community rewards programs, and wagering. This allocation strategy is in line with the project’s commitment to putting community at the forefront.
Furthermore, the project’s pre-sale page reveals that the token price will increase in four days. This strategic pricing model is intended to encourage early participation. Furthermore, Bitcoin Minetrix sees huge potential for BTCMTX in the crypto market.
Investors are advised to keep an eye on the token given its potential as the next cryptocurrency to experience significant growth. BCMTX’s current discounted price and strategic supply allocation make it an intriguing option for investors.
Visit Bitcoin Mintrix Presale.
3. Fetch.ai (FET)
Fetch.ai is a leader in the crypto space, focusing on innovation within an open-source ecosystem to power peer-to-peer (P2P) applications. The project combines advanced automation and artificial intelligence (AI) to create a unique platform.
Furthermore, the platform creates smart software called Autonomous Economic Agents (AEAs). These are intelligent software entities designed to perform actions and actively participate in economic activities on behalf of users.
With a current market cap of $424.23 million, Fetch.ai stands out for its generative AI approach. Moreover, it exhibits a high narrative score and intraday growth of 7%, showing commendable performance in the persistently bullish market.
Furthermore, Fetch.ai experienced a remarkable 133% price increase last year, outperforming 79% of the top 100 crypto assets. Fetch.ai has a circulating supply of 688.12 million FET out of a maximum supply of 1.15 billion.
Coming soon: BlockAgent, a game-changer #Web3 ????
BlockAgent uses our advanced #AIAgent technology, which shows how flexible and versatile it can be to make insights in the chain more accessible.
Deploy agents quickly and get personalized real-time insights into blockchain data ???? pic.twitter.com/c7kmKNAnaz
— Fetch.ai (@Fetch_ai) January 19, 2024
Furthermore, Fetch.ai holds the 36th position in the Ethereum (ERC20) Tokens sector. It also ranks 47th in the Layer 1 sector and 7th in the AI Crypto sector. The token is trading above its 200-day simple moving average, a trend often associated with positive market sentiment.
Furthermore, the project exhibits high liquidity, supported by its significant market capitalization. In summary, Fetch.ai’s approach and solid performance position it as the next crypto to explode. However, as with any investment, investors should do thorough research and consider the risks associated with the crypto market.
4. The graph (GRT)
GRT has seen a positive trend in the last 24 hours, which means a price increase of 4.73%. As an indexing protocol, GRT aims to provide data query services for Ethereum and other Layer 1 chains. With the growing adoption of blockchain technology, there is a potential for a consistent increase in the price of GRT.
Furthermore, the new year could bring improvements for GRT, especially when the expected altcoin rally takes place later in the year. Furthermore, GRT has seen a 72% price increase last year, outperforming 68% of the top 100 crypto assets. The project is trading above the 200-day moving average, indicating a positive trend.
The Graph is currently ranked #50 on CoinMarketCap, with a live market cap of $1,467,065,369. There is currently a total of 9.39 billion GRT in circulation, out of a maximum stock of 10.06 billion GRT. The token demonstrates a substantial market presence.
However, potential hurdles could impact GRT’s bottom line. Investors should carefully analyze the token to determine profitable strategies. Additionally, GRT is a coin worth watching this season. Although the sector has shown positive growth recently, investors should consider potential challenges and historical performance patterns when developing their strategies.
In the meantime, Crypto According to a report from Chainalysis, thefts will drop significantly by 54.3% to a total of $1.7 billion by 2023. This comes after a tumultuous 2022, which saw a record $3.7 billion lost to hacks and thefts.
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