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The cryptocurrency market took another leap on Monday morning by gaining 3.02%. The market capitalization is now 1.11 trillion in a period before previous earnings. The ability of the market to shed more assets as “next cryptocurrency to explode”increases day by day.
Furthermore, in the last 24 hours, the crypto market saw an increase in trading activities. A total volume of $34.51 billion was recorded, representing an increase of 11.07%. The decentralized finance sector had a trading volume of $2.85 billion, representing 8.25% of the market volume. Additionally, stablecoins had a trading volume of $32 billion, representing 92.72% of total trading activity.
bitcoin‘s dominance in the market is 49.22%. It reflects an increase of 0.37% in the last 24 hours.
In it stock Exchange, Japanese stocks rose exponentially on Monday. The Nikkei 225 stock index benefited from the yen’s weakness to hit its lowest level in almost a year. This push came about because the United States avoided a government shutdown.
The next cryptocurrency to explode
However, other stock markets in the region had mixed results. Oil and resources stocks in Australia faced pressure after last week’s crude oil price drop.
Additionally, US stock futures showed an increase of 0.6%, indicating a possible recovery after Friday’s 0.3% drop in the S&P 500.
1. bitcoin SV (BSV)
The crypto community experienced a ripple effect after Christen Ager-Hanssen resigned as CEO of nChain. nChain is the platform behind the bitcoin SV (BSV) token. Ager-Hanssen’s resignation was followed by accusations against Craig Wright, who claimed to have created bitcoin. The fraud allegations worried bitcoin BSV stakeholders.
As of this report, the nature of the allegation is yet to be fully uncovered, but bitcoin Sv and the broader crypto community are watching closely.
However, the bitcoin SV market does not react negatively to this news. The BSV token performed strongly over the weekend, extending its gains into Monday. The token gained 13% in the last 24 hours, trading at $35.90. Its 24-hour trading volume also increased by 341.69% to $63.53 million.
Happy #ChangeADayOfLight! Just like him #BSV Blockchain shines for its scalability, low fees, utility and minimal carbon emissions.
See the CO2 footprint of live network protocols @mintBlue_comThe blockchain sustainability index here: https://t.co/VPs77n2hCu pic.twitter.com/X48LlaLBzf
– BSV Blockchain (@BSVBlockchain) October 1, 2023
As much as the network proves to be secure and capable of generating good returns on investment, any damning revelation is unlikely to have much effect. The bulls in charge of the market have shown that they can make BSV the next cryptocurrency to explode.
2. THOR Chain (RUNE)
THORChain cryptocurrency RUNE exhibited a 12.76% increase in the last 24 hours. Its 24-hour trading volume also increased by 124.99% to $224.26 million, according to data from Coinmarketcap. Its market capitalization is $720.80 million, with a total circulating supply of 335,969,596 RUNE tokens.
According to Coinglass, THORChain’s open interest is $65.53 million, indicating an increase of 19.44% from the previous session. Furthermore, the asset’s long-short ratio in the last 24 hours is 0.9794, with short positions totaling $405.08 thousand, compared to long positions totaling $3.48 thousand.
Looking at its performance during the month, THORChain (RUNE) has increased by up to 20.68% in a month. It has seen a substantial increase of 32.52% in the last six months, proving its strong performance.
@THORChain Weekly #70 $RUNE
Topics
– Transmission swaps
– @EdgeWallet https://t.co/pu4yyJDzrt pic.twitter.com/zDy3iNNqxe-rekt0x (@rekt0x) September 30, 2023
If the bulls continue to push at this pace, RUNE price may encounter resistance levels of $2.5 and $2.9. On the other hand, if the current level does not hold, a downtrend could see the price approach the $1.7 and $1.6 support levels. The token is currently selling at 2.18 and is heading to be the next cryptocurrency to explode.
3. TG.Casino (TGC)
He TG.Casino It is working well as intended. He has raised over 343,000 in its ongoing pre-sale. One of the main drivers of the impressive initial success is that TG.Casino offers an attractive betting rewards system. However, the team has taken a thoughtful approach when designing this staking mechanism, ensuring that rewards do not depend solely on staking emissions.
That sensation!!! pic.twitter.com/TVxGK5KQGR
— TG Casino (@TGCasino_) October 1, 2023
In contrast, TG.Casino has introduced a buyback mechanism that uses a portion of the platform’s revenue to buy back TGC tokens from the market. These tokens are then distributed to investors as rewards for staking, while another portion is permanently removed from circulation through token burning.
This unique approach means that as TG.Casino gains popularity and generates more revenue, the buyback mechanism will progressively offer investors greater rewards for staking and reduce the supply of tokens through burning. This strategy could increase the intrinsic value of TGC tokens.
The community anticipates how these staking and buyback mechanisms will influence TGC’s supply and demand dynamics, making it a focal point for expert analysts. Popular YouTuber Cilinix crypto recently featured the project and highlighted its substantial staking rewards as a key advantage.
Pre-sale participants can earn an impressive 1500% Annual Percentage Yield (APY) on their TGC tokens. Additionally, early pre-sale investors will receive exclusive rewards when the platform officially launches on Telegram, adding more incentives to participate.
Visit TG.Casino.
4. Represent (RNDR)
Render (RNDR), the native token of The Render Network, is set to become the next cryptocurrency to explode. Render Network is an innovative provider of decentralized GPU-powered rendering solutions. The token rose 12.32% in the last 24 hours to sell at $1.76.
Operating as an ERC-20 token, RNDR is the primary currency for rendering animations, motion graphics, and VFX on the Render Network. The platform leverages the decentralized computing power of GPUs, delivering faster processing speeds and cost-effectiveness. Creators can leverage this network to bring their visual creations to life, while node operators can take advantage of their available GPU resources.
Despite experiencing a recent price drop to $1.48, Render (RNDR) has shown notable resilience, rising over 13.94% in just seven days. With a market capitalization of $658.14 million, RNDR is establishing a notable presence in the cryptocurrency space. Additionally, the recent launch of the Render Foundation website has created a centralized hub for the Render Network and RNDR-related information, encouraging greater community involvement.
This week #Renderdigest The topic is “mass adoption of space web” and covers the latest landmark news paving the way to the future of ai, GPU computing, web3 and virtual assets.
Let’s get into it:
– The rendering network (@rendernetwork) September 28, 2023
From a technical analysis perspective, there are signs of potential bullish momentum. If RNDR maintains its upward trajectory, it may reach a price of $3. However, if the uptrend encounters headwinds, a pullback to $1.50 could be in play.
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