The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to return to its all-time high of $70K, although it managed to surpass 60K. Investors need to stay alert during this consolidation phase, as it could be a chance to catch a ride on a rising trend.
Prices of various altcoins are already showing positive movements, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token.
Next Cryptocurrency To Explode
Smart 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.
1. Mina Protocol (MINA)
Mina Protocol is emerging as a significant player in the blockchain space, standing out for its unique approach. Unlike most traditional blockchains that grow larger with use, Mina’s “succinct blockchain” remains a constant size of just 22KB, no matter how much it’s used. This design reduces computational requirements, allowing decentralized applications (DApps) to run more efficiently. Moreover, Mina uses zk-SNARKs, a cryptographic proof system that lets users verify blockchain transactions without revealing specific details.
On the market front, Mina has shown strong price performance, surging by 9.35% in the last 24 hours. This increase reflects growing investor interest. The token also boasts high liquidity, with a 0.3173 volume-to-market cap ratio, ensuring smooth trading and healthy market activity.
ZK enables everyone to work together using their own computational power.
Rather than just relying on the computational power of validators.
power of the network > power of validators https://t.co/4wWL65hxnf
— Mina Protocol (httpz) 🪶 (@MinaProtocol) September 27, 2024
Mina’s 14-day RSI sits at 46.98, suggesting neutral trading conditions with possible sideways movement. Even with a low volatility of 10%, Mina has recorded 19 green days in the last 30, highlighting its steady upward trend. This stability adds to its appeal as a reliable asset.
Over the long term, Mina has seen a 54.87% increase in the past year and is currently trading 5.64% above its 200-day simple moving average. This demonstrates strength and potential for further growth. In a competitive market, Mina’s ability to outperform nearly half of the top 100 crypto assets shows its resilience. With an increasing demand for DApps, Mina’s long-term prospects appear bright.
2. Arweave (AR)
Arweave is a decentralized network designed to provide permanent storage of web content, creating a lasting digital memory. The platform uses its native token, AR, to reward participants for maintaining data availability, ensuring a stable and long-term storage solution. Recently, Arweave has gained attention, with its price increasing by 5.05% to reach $22.75, highlighting the growing demand for decentralized storage.
The key feature of Arweave is its “blockweave” technology, which improves data storage by requiring miners to access and store older blocks. This system encourages the retention of historical data, making Arweave an appealing platform for developers and users building applications on the permaweb.
Arweave also marked a major milestone with a deposit of 75 million $DAI into its ecosystem. This boosts both liquidity and market confidence within the Arweave community.
Over 2 million $AO tokens have been minted!
100% fair launch. Tokens become transferable Feb 2025. pic.twitter.com/mFLzchXaw9
— ao (@aoTheComputer) September 27, 2024
From a technical perspective, Arweave shows solid liquidity, with a volume-to-market cap ratio of 0.2348, indicating active trading. Its 14-day RSI stands at 41.65, placing it in a neutral zone, which may suggest sideways movement in the near future. Over the past month, 53% of its trading days were positive, reflecting steady investor interest.
3. Crypto All-Stars (STARS)
Crypto All-Stars, a presale meme coin, is quickly gaining attention and has strong growth potential. The project has already raised over $1.8 million, and with just a small portion of this liquidity flowing in, the price could rise significantly. Currently, the cost of $STARS is $0.001471, with an expected increase in the next 18 hours.
Crypto All-Stars provides users with a platform to manage multiple meme coins all in one place. Its MemeVault feature simplifies staking by distributing all rewards in $STARS. At launch, MemeVault will support 11 popular tokens, including Dogecoin, Shiba Inu, Pepe, and Floki, with plans to add more coins in the future.
Built on Ethereum’s ERC-1155 token standard, Crypto All-Stars ensures secure staking for ERC-20 tokens. This positions the platform to expand its staking options even further. According to the project’s roadmap, MemeVault will launch after the $STARS presale ends, which could boost demand for top meme coins as they become eligible for staking.
Currently, users can stake $STARS through the project’s native mechanism, offering a high annual percentage yield (APY) of 838%. Over 878 million tokens have already been staked. Additionally, the smart contract has been audited by Coinsult and SolidProof, with no major issues found, ensuring security.
To join the Crypto All-Stars presale, start by setting up a wallet that supports Ethereum. Fund it with $ETH, $USDT, or $BNB, and then visit the official website to purchase $STARS tokens. After completing the transaction, your tokens will be reserved until the presale concludes.
Visit the Crypto All-Stars Presale
4. Conflux (CFX)
Conflux (CFX) has experienced a strong upward trend over the past two days, with the price increasing by nearly 30%. This rise follows a broader bullish movement that began in early September, attracting investors looking to join the rally and potentially profit. But is now the right time to buy?
Since June, CFX has been consolidating below the $0.1921 resistance level, and it continues to test this key level. The hourly chart shows that while the price is attempting to dip below its immediate support, bulls are watching for a recovery in the coming hours. If CFX manages to stay above $0.1758, it could trigger a rally toward $0.2293.
As CFX nears the resistance again, some buyers may start taking profits, leading to a possible retracement. A more promising buying opportunity may emerge if the price successfully breaks through the $0.1921 resistance. This could either signal a complete trend reversal or continue pushing the price upward. If bulls fail to maintain momentum, however, CFX could fall below the support level of $0.1175, possibly beginning a bearish trend down to $0.0964.
Conflux’s price is expected to rise significantly. Long-term forecasts predict a potential 227.70% increase by October 2024, with a possible price of $0.419568. Short-term predictions for next week suggest a price range between $0.128034 and $0.17533.
This is a reminder that Episode 3 of Conflux Forward is happening today in less than 2 hours!
Join us at 10AM EST in the Conflux English community as we chat with the team about the biggest highlights from #Token2049 Singapore. https://t.co/wc36yoR4DK pic.twitter.com/yjdtTBupnA
— Conflux Network Official (@Conflux_Network) September 30, 2024
The Relative Strength Index (RSI) is currently at 71, indicating an overbought condition, which may lead to some retracement soon. However, the 50-day and 100-day simple moving averages are below the current price, signaling potential for further gains in the short to medium term. On the other hand, the 200-day moving average is still above the price and may act as resistance in the long term.
5. Ethena (ENA)
Ethena (ENA) is currently on a bullish run, with its price increasing by over 12% today and more than 45% in the last week. This strong momentum has caught the attention of many in the crypto community, sparking discussions about what’s fueling this remarkable rise.
One of the main drivers behind Ethena’s price surge is the recent announcement on September 26 about a major partnership with two financial giants, BlackRock and Securitize. Together, they are launching a new stablecoin called UStb, which is expected to make waves in the stablecoin market.
A new proposal was made on Ethena governance a few hours ago
Ethereal Exchange is requesting the community approval to launch a new spot and perpetual exchange built on USDe and integrated into the Ethena hedging engine and liquidity
Their proposal includes a 15% commitment of…
— Ethena Labs (@ethena_labs) September 30, 2024
What makes UStb unique is its backing by BlackRock’s tokenized U.S. Treasury fund, BUIDL, which both BlackRock and Securitize collateralize. This connection to U.S. Treasury assets provides a level of security and trust that sets UStb apart from other stablecoins. While Ethena already offers a stablecoin, USDe and UStb will be an additional option, offering users and exchanges an alternative with a different risk profile.
Currently, Ethena (ENA) is priced at $0.4034 and is consolidating near a key resistance level. If the price breaks through the $0.4138 mark, it could lead to a significant rise, with some analysts predicting a potential jump to $0.72, which would represent a 75% gain from its current price.
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