Cryptocurrency prices have been fluctuating for a while, and the overall feeling in the market is neutral. Bitcoin (BTC) is struggling to stay above $62K, while Ethereum (ETH) is striving to stabilize at $2,500.
However, identifying the next cryptocurrencies to explode 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.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Threshold (T)
The Threshold Network offers advanced cryptographic tools designed for decentralized applications (dApps). These tools focus on privacy, security, and interoperability. Key features include proxy re-encryption (PRE), threshold signatures (TSS), random beacon (RB), and distributed key generation (DKG). These features help ensure secure cross-chain interactions, safe data sharing, and controlled access to user data.
In recent market action, Threshold saw a 2.69% increase over the last 24 hours. Its Relative Strength Index (RSI) stands at 53.61, and it is trading above its 200-day Simple Moving Average (SMA), indicating positive momentum. With 19 green days in the past month, Threshold is showing potential as a profitable investment.
One major application of Threshold is tBTC, a tokenized version of Bitcoin that operates without custodians. tBTC allows holders to use DeFi privately, reducing the risk of censorship. The T token is also used for staking and running nodes, which are vital for the network’s security and efficiency.
A great opportunity to migrate from WBTC to @tBTC_project! ✨✨✨
tBTC & thUSD provide users the freedom to borrow against their BTC without middlemen. 🤝 https://t.co/LQvjQZ9YoZ https://t.co/b0xTVO5qHz
— ✜ Threshold USD | thUSD is live! (@ThresholdUSD) October 5, 2024
Threshold’s security is built on cryptographic signature schemes and supports cross-chain projects like Sepolia, ensuring smooth interactions between blockchains. Beyond tBTC, Threshold supports applications like RandomBeacon and Threshold Autonomous Credentials (TACo), expanding its ecosystem further.
2. Gas (GAS)
Gas (GAS) plays a vital role in the NEO blockchain ecosystem. It is used to pay transaction fees and execute smart contracts on the platform. Gas tokens are rewarded to NEO token holders and council members involved in the platform’s governance, incentivizing participation and covering network costs.
Recently, significant developments have boosted Gas’s importance and value. One key change was the 80% reduction in Gas fees, making transactions and smart contract execution on the NEO blockchain more affordable. This fee reduction has made the network more accessible, which could increase adoption and utility for both Gas and NEO.
Additionally, the shift from the Neo Legacy MainNet to the N3 MainNet marked an important milestone, ending Gas generation on the old network and highlighting the evolution of NEO.
As of today, Gas is priced at $3.88, reflecting a 2.89% increase in the last 24 hours. With 19 green days in the past month (63%), Gas shows high liquidity and bullish market sentiment. The Fear & Greed Index sits at 52 (Neutral), signaling rising transactions and growing optimism about its potential uptrend.
3. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) is quickly becoming one of the top presales of the year, drawing in a lot of attention from investors. Recently, a whale investor purchased $58,000 worth of PEPU, boosting its momentum. So far, the project has raised an impressive $17.3 million, with over $1.3 million collected in the past week alone.
One of the key reasons for this growing interest is that Pepe Unchained offers a significant upgrade from the original PEPE. It runs on its own Ethereum Layer-2 blockchain, improving speed, efficiency, and scalability compared to the outdated Ethereum blockchain of the original PEPE.
The frog with the golden brain gearing up for L2 launch.
Join our official telegram to hang with the community!https://t.co/ahmb9L28KX pic.twitter.com/8hJQ7IuvJh
— Pepe Unchained (@pepe_unchained) October 5, 2024
Even though it has its own blockchain, Pepe Unchained still benefits from Ethereum’s robust security while providing high transaction speeds. This allows investors to easily bridge assets between the Ethereum and Pepe Unchained networks, making it an attractive option for those seeking both security and performance. These advantages have led experts to predict strong growth potential for PEPU.
Another major factor is the 225% APY offered to early buyers who stake their PEPU tokens. Priced at $0.00992, PEPU can be purchased using ETH, USDT, BNB, or a bank card through a simple widget on the project’s website. Investors can lock up their tokens on the staking page to earn these high rewards, which adds to the excitement around the project.
Visit the Pepe Unchained Presale
4. Aragon (ANT)
Aragon (ANT) saw a slight price increase today, rising by 0.14% to $6.13. Although this is a minor gain, it follows an impressive 425.53% rise in daily trading volume, showing growing interest. Aragon is a comprehensive platform for creating and managing Decentralized Autonomous Organizations (DAOs), offering key governance tools.
Aragon’s ecosystem includes three main components. Firstly, the Aragon Association, a non-profit, manages the network’s funds. Secondly, the Aragon Client provides developers with the tools needed to build DAOs. Lastly, the Aragon Network ensures smooth communication and interaction within the platform.
Monthly Update of the Aragon Association’s ANT Redemption Initiative:
ℹ️ 27,35M ANT redeemed, representing 80.4% of the outstanding supply
ℹ️ 2,185 redemptions from both ANT v1 and v2 holders
Read the full thread for updates for users holding ANT on CEXs below:
— Aragon 🦅 (@AragonProject) October 4, 2024
Aragon offers important features such as finance management, voting, and token issuance. It also includes Aragon Court, which handles dispute resolution, adding a layer of security and governance. Additionally, holders of the ANT token can vote on network proposals, shaping its future. Through Aragon Agent and Ethereum smart contracts, users experience seamless interaction across the ecosystem.
The 14-day Relative Strength Index (RSI) for the ANT token is neutral at 44.76, signaling possible sideways trading. With a low 30-day volatility of 7%, Aragon shows stable price movement. Although it is currently trading 0.80% below the 200-day Simple Moving Average (SMA), Aragon has seen 16 green days (53%) in the past month. This performance reflects growing confidence in Aragon’s role in the decentralized world.
5. Celo (CELO)
Celo (CELO) stands out for its focus on mobile access and financial inclusion, making it easier for users in emerging markets to use crypto. The platform allows people to send and receive money using just phone numbers, which lowers the barriers to entry for those new to cryptocurrency. Celo also supports stablecoins, offering protection from market volatility. With mobile technology growing worldwide, Celo’s focus on accessibility presents a great opportunity for expanding crypto use. Its commitment to inclusion is noteworthy.
Celo is currently transitioning to a second-layer (L2) solution for Ethereum (ETH), and this has led to a significant rise in stablecoin activity. A report from the analytics platform Artemis shows that Celo has surpassed Tron (TRX) in daily active addresses related to stablecoin usage. Not only that, but Celo’s activity has also overtaken other networks like Solana (SOL), The Open Network (TON), and BNB Chain in this category.
In recent trading, Celo showed strong performance, reaching a 24-hour high of $0.7768 after starting at a low of $0.7058. At the time of writing, Celo is priced at $0.7732, reflecting a gain of 9.55%. This indicates a rise in buying activity and suggests a shift in market sentiment.
Celo is trading 46.57% above its 200-day simple moving average (SMA) of $0.524995. It has recorded 19 green days out of the last 30, making up 63% of the period, and technical indicators suggest a positive outlook as of October 6, 2024. If Celo continues to hold its current position, there could be more upward movement. However, traders need to manage risks carefully when making decisions.
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