Earning significant ROI in a bull market could mean paying attention to the meme coins and Altcoins with explosive potential. 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 the next cryptocurrencies to explode and inform investors and traders about each token. Also included in the post is an overview of the market trend of crypto assets, which have the potential to post significant gains in the future.
Next Cryptocurrency To Explode
It’s that time in the market when investors and traders take a position to either edge their gains or capitalize on emerging trends. Experts believe investors have a better chance of finding the next cryptos to explode among upcoming crypto projects. With that in mind, investors should explore the potential of Mega Dice. The project aims to reward current casino users with many benefits while drawing in new ones. Updates on the project and its prospects are shared below.
1. ThorChain (RUNE)
On August 14, THORChain (RUNE), a decentralized cross-chain liquidity protocol, saw a significant price surge of 14%, making it one of the top gainers in the crypto market. With a 24-hour trading volume exceeding $272 million, RUNE experienced a nearly 13.6% increase, trading around $3.70 at the time of writing. THORChain allows users to exchange digital tokens across various blockchains, including Bitcoin, which adds to its appeal.
This recent boost in THORChain’s market performance is partly due to its new partnership with Kujira. This collaboration aims to enhance liquidity within Kujira’s decentralized finance (DeFi) applications, fostering growth and stability for both platforms.
One standout feature of their partnership is the community-driven token raise. Unlike traditional fundraising methods, this approach involves broader community participation, aligning the economic interests of both Kujira and THORChain communities. This initiative aims to strengthen the connection and resilience within their ecosystems.
.@THORChainUni has DeFi's most comprehensive curriculum and team to help understand everything you need to know about THORChain's cross-chain infrastructure https://t.co/6siXFt5Etw
— THORChain (@THORChain) August 12, 2024
Additionally, THORChain has formed alliances with SwapKit and Noble to integrate stablecoins into the THORChain AppLayer. Noble will support this integration by offering native USDC issuance, simplifying the user experience with single-click deposit functionality. These collaborations reflect a growing trend in the DeFi space, where platforms work together to enhance liquidity, user engagement, and overall financial stability.
2. Immutable (IMX)
Immutable (IMX) has experienced significant growth over the past year, rising by more than 76.39%. Although the cryptocurrency declined about 8.97% last month, it managed a 6.95% increase in the past week. Moreover, in the previous 24 hours, it has risen by 6.34%.
Despite recent drops, there are promising signs for IMX. The increasing market cap and trading volume suggest a potential value increase soon. Currently, IMX is trading around $1.23 per token, with a market cap nearing $2 billion. Analysts are optimistic about a possible surge in its value shortly.
Additionally, the volatility has been relatively low, around 13% over the past month, indicating stability. Liquidity remains strong, with a healthy volume-to-market cap ratio of 0.0458, which supports further growth.
Immutable X (IMX) is revolutionizing NFT trading with its advanced features. As a layer-two scaling solution on Ethereum, Immutable X offers fast transactions and significantly lower fees than the Ethereum mainnet.
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Exclusive to Closed Beta Players. Start the @SpaceNationOL Main Quest on Immutable zkEVM and complete it via @layer3xyz by Aug 16, 00:00:00 UTC: https://t.co/DrBtaRpMJw pic.twitter.com/bJXDmqq9K3
— Immutable (@Immutable) August 13, 2024
Furthermore, Immutable X simplifies the creation of NFT marketplaces and games by providing features like a shared global order book and a user-friendly NFT wallet experience. The IMX token plays a central role in the ecosystem, facilitating fee payments, rewards through staking, and participation in governance.
3. Mega Dice (DICE)
Mega Dice is a GameFi cryptocurrency project built on the Solana network that is gaining traction. The project has already raised over $1.7 million and is on its way to reaching $2 million soon. Mega Dice aims to blend gaming with cryptocurrency, focusing on gamblers and DICE token holders. Currently, the DICE token is priced at $0.105266. However, it is expected to increase in less than six days, making it an attractive opportunity for potential investors to get involved before the price rises.
In addition, Mega Dice has launched a Refer & Earn program, which encourages users to bring in new participants by offering them a percentage of the spending of those they refer. The project also implements an aggressive airdrop strategy, with $2.25 million set aside for distribution across three seasons.
During Season 1, active players who wager at least $5,000 within 21 days can earn a share of a $750,000 reward pool. Although Season 2 ended on June 28, Season 3 continues to provide incentives, with an additional $1.6 million available for ongoing activity until the DICE token is listed on exchanges.
Furthermore, token holders can earn rewards through staking, receiving daily payouts based on the casino’s profits. Mega Dice also offers NFTs for VIP players and a 25% referral commission, encouraging greater engagement and participation on the platform.
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4. GMX (GMX)
GMX (Global Markets eXchange) is gaining attention in the competitive cryptocurrency market with its cutting-edge technology. By utilizing Metis roll-up technology, GMX reduces transaction fees and boosts throughput. This solution addresses a common issue in the crypto space—high costs and slow transaction speeds.
Additionally, GMX operates on a decentralized model, eliminating a single failure point and enhancing security. Users can also conduct anonymous transactions, which is essential for privacy in the crypto market.
GMX is trading at $28.90, with a market capitalization of $278.140 million. Over the last 24 hours, its price has increased by more than 13%, placing it 159th among all cryptocurrencies with a daily volume of $44.045 million. This upward trend is expected to continue through 2025.
With supportive regulations and ongoing technological advancements, the GMX token could average around $11 and reach as high as $135. This positive outlook is driven by increased adoption of crypto investments and lower inflation rates, which may attract more investors to GMX.
GMX is in the unique position to offer liquid markets for SOL/USDC and WIF/USDC on the Arbitrum blockchain. With healthy asset-backed markets bootstrapped, GMX users can now trade SOL and WIF on margin as well as spot.
The necessary SOL and WIF tokens were transferred over from… pic.twitter.com/tBpfYQvOM7
— GMX 🫐 (@GMX_IO) August 12, 2024
Furthermore, GMX has formed partnerships with leading fintech companies and cryptocurrency exchanges. These alliances have expanded its reach, increased liquidity, and enhanced its utility. For instance, collaborations with cryptocurrency liquidity providers allow GMX to settle large trades quickly without significant price fluctuations. These strategic partnerships improve GMX’s functionality, build consumer trust, and encourage wider adoption.
5. Fantom (FTM)
Fantom’s yearly performance has shown modest growth, with an annual increase of 57.39%. However, in the last three months, FTM has declined, losing major support zones and forming lower lows and highs. Currently, FTM is trading at $0.3774, with a 24-hour surge of 11.40% and a weekly increase of 19.63%.
Moreover, the daily trading volume also rose significantly by 31.46%. Recently, a decrease in whale activity has been noted, which suggests a cooling of large transactions and may lead to price increases driven by retail investors.
The FTM/USDT chart shows the price moving within a downward channel with resistance. A breakout from this channel could trigger a strong upward movement for the bulls. In the recent bullish trend starting from the support trendline, FTM’s price has risen by 19.63% this week. As trading volumes increase, this altcoin’s chances of a breakout are significant.
A successful breakout could push the price toward the 200-day EMA at $0.552, potentially reaching the $1 mark. In the short term, FTM has support at $0.337 and $0.3209. It must flip the resistance at $0.39 to rally, which seems possible for the FTM coin.
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Next Cryptocurrency To Explode 2024
