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The global crypto market capitalization has retreated slightly to $1.38 trillion, marking a marginal decrease of 0.99% in the last 24 hours. The market is falling for the second day in a row in this current phase. Observers expect it to rally again next week and present more values as the next cryptocurrencies to explode.
In the last 24 hours, the total trading volume within the cryptosphere has decreased noticeably, by 19.72% to $56.53 billion. Decentralized finance contributes $6.65 billion to this volume, representing 11.76% of the total 24-hour crypto market volume. Stablecoin volume also reached $50.14 billion, representing a significant 88.70% share of the entire 24-hour volume of the crypto market.
<img decoding="async" class="aligncenter size-full wp-image-458133" alt="crypto heatmap” width=”1280″ height=”687″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/11/The-next-cryptocurrency-will-explode-on-Saturday-November-18-Bitcoin.png 1280w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-300×161.png 300w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-1024×550.png 1024w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-768×412.png 768w” data-lazy-sizes=”(max-width: 1280px) 100vw, 1280px” src=”https://technicalterrence.com/wp-content/uploads/2023/11/The-next-cryptocurrency-will-explode-on-Saturday-November-18-Bitcoin.png”/><img decoding="async" class="aligncenter size-full wp-image-458133" src="https://technicalterrence.com/wp-content/uploads/2023/11/The-next-cryptocurrency-will-explode-on-Saturday-November-18-Bitcoin.png" alt="crypto heatmap” width=”1280″ height=”687″ srcset=”https://technicalterrence.com/wp-content/uploads/2023/11/The-next-cryptocurrency-will-explode-on-Saturday-November-18-Bitcoin.png 1280w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-300×161.png 300w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-1024×550.png 1024w, https://insidebitcoins.com/wp-content/uploads/2023/11/18-coin360-768×412.png 768w” sizes=”(max-width: 1280px) 100vw, 1280px”/>
bitcoin has seen a slight uptick in its dominance, reaching 51.66%, indicating an increase of 0.58% on the day.
Global stocks It stabilized near its highest levels in about two months on Friday, while Treasury yields briefly hit a two-month low. This followed strong investor belief that US interest rates have peaked and could potentially decline over the next year.
Sentiments moderated, however, when Federal Reserve Bank of Boston President Susan Collins indicated Friday that while signs point to a possible decline in inflation, she was not ready to rule out the possibility of additional rate increases. fees if deemed necessary.
The next cryptocurrency to explode
Wall Street showed some restraint in response to this update. The Dow Jones Industrial Average (.DJI) and Nasdaq Composite (.IXIC) closed with marginal gains, while the S&P 500 (.SPX) posted a modest rise of just 0.13%.
In line with expectations around US interest rates, the dollar index fell 0.48%, marking one of its most notable weekly declines this year. The weakening dollar significantly strengthened the yen, which was trading below 150 per dollar.
1. bitcoin ETF Token (BTCETF)
Despite recent setbacks in bitcoin price, a cryptocurrency asset revolving around the highly anticipated approval of a btc spot ETF continues to attract attention and move towards being the next cryptocurrency to explode. bitcoin ETF Token (BTCETF) is demonstrating solid progress in its ongoing pre-sale campaign, having amassed over $980,000 in funding in two weeks. Given the current trend, with an average daily investment flow of $75,000, the pre-sale should reach the million dollar mark tomorrow.
This impressive performance is primarily due to the bitcoin ETF Token’s deflationary tokenomics, which involves burning 5% of the total BTCETF supply upon reaching real-world milestones in the ETF approval process, as outlined in the project’s whitepaper. .
There are only three days of countdown left until the end of #BitcoinETF Stage 3! Keep your eyes wide open! pic.twitter.com/9LsJMJwEAk
– BTCETF_Token (@BTCETF_Token) November 17, 2023
The project also implements a sales tax, where 5% of each transaction is also burned. These dual mechanisms are strategically designed to gradually reduce the overall supply of BTCETF over time, potentially improving its scarcity and value.
Additionally, the token’s structure positions it as an attractive option for investors seeking speculative exposure to the excitement surrounding the potential launch of a btc spot ETF in the United States.
Austin Hilton, a prominent crypto YouTuber who has over 236,000 followers, praised BTCETF, commenting that it is “like nothing you’ve ever seen.”
Currently, investors can purchase BTCETF tokens at $0.0054 during the current pre-sale stage, although this price is expected to increase periodically until the pre-sale allocation is fully subscribed.
Visit bitcoin ETF Token.
2. BitTorrent (New) (BTT)
The current price of BitTorrent (BTT) stands at $0.000000502607, experiencing a 4.00% increase in the last 24 hours and a 6.07% increase in the last seven days. Its 24-hour trading volume amounts to $31.55 million, while its circulating supply amounts to 950 billion BTT, resulting in a market capitalization of $477.73 million.
The all-time high for BitTorrent (BTT) stands at $0.00000343, observed on January 21, 2022, almost two years ago. In comparison, the current price is noticeably lower, representing a decrease of 85.25% from its maximum value. In contrast, BitTorrent’s all-time low occurred on October 13, 2023, about a month ago, recording a price of $0.000000365368. Currently, the price has increased by 38.54% from its lowest point.
Regarding its fully diluted valuation, the figure stands at $498.80 million. This projection represents the maximum market capitalization if the circulating supply of 990 billion BTT tokens were circulating today. It is important to note that performing this valuation may take several years, depending on the BTT token issuance schedule.
#BTFS Weekly report
The total number of miners exceeded 7.21 million
Total storage contracts exceeded 129 million
Total revenue exceeded 22614 billion $BTT pic.twitter.com/ZmSl3djREC-BitTorrent (@BitTorrent) November 15, 2023
In terms of price performance relative to its peers, BitTorrent has shown an increase of 6.00% in the last seven days, outperforming the global cryptocurrency market, which faced a drop of 2.10%. However, BitTorrent is slightly behind compared to similar cryptocurrencies in the ethereum ecosystem that demonstrated an increase of 12.70%.
Market sentiment around BitTorrent remains bullish. More than 89% of users express confidence in its status as the next cryptocurrency to explode.
3. Chronos (CRO)
Cronos crypto (CRO) has recently demonstrated a strong and consistent uptrend, showing significant momentum in recent weeks. Its steady rise has notably reached a high point not seen in months.
According to Coingecko’s report, Cronos has shown a 7% rise and an impressive 57% rally in the past few weeks. This increase not only attracts attention but firmly establishes Cronos as a key player in the current market landscape.
Specifically, the CRO token broke the descending trend line connected to its highest points observed since February. This positive development underlines Cronos’ current vigor and bullish momentum, indicating a notable change in its market dynamics.
However, caution could be warranted due to the considerably elevated Relative Strength Index (RSI) at 97.45, indicating an overbought state. This could suggest a possible pullback or consolidation soon. Despite this, the cryptocurrency maintains a solid bullish trend in the near term, supported by the 50-day exponential moving average at $0.0630.
Cronos ecosystem focus: @Ballies_NFT
Popular #CROfam nft collection, Ballies, recently launched its basketball-themed strategic mobile card game on #Chronos.
Read on to learn more about Ballies and the release of their latest gamehttps://t.co/b2xDVJuRWQ
– Cronos (@cronos_chain) November 17, 2023
Looking at the critical resistance level of $0.10, buyers will likely continue to maintain the coin’s upward trajectory. Furthermore, the ADX indicator shows a constant upward trend, while the stochastic oscillator has reached the overbought threshold. All this data proves that CRO is the next cryptocurrency to explode.
4. KuCoin Token (KCS)
KuCoin (KCS) is currently trading at $6.33, with a 24-hour trading volume of $143,269. In the last 24 hours, there has been a price increase of 1.85% and in the last seven days an increase of 1.97%. With 97 million KCS tokens in circulation, KuCoin’s market cap is $612.38 million.
The all-time high for KuCoin (KCS) is $28.83, recorded on December 1, 2021, which is a significant difference of 78.06% from its current price. In contrast, KCS’s all-time low was $0.342863, recorded on February 7, 2019, representing a considerable increase of 1,744.57% from the current price.
The valuation of fully diluted KuCoin (KCS) is estimated at $913.08 million, assuming there are 140 million KCS tokens in circulation today. However, the realization of this valuation could occur over several years, depending on the designed issuance schedule of the KCS tokens.
Over the past seven days, KuCoin (KCS) has outperformed the global cryptocurrency market, which has seen a drop of 2.00%. It has also outperformed similar Exchange-based Tokens cryptocurrencies, which have shown a drop of 2.00%.
Currently, sentiment in the KuCoin (KCS) community is predominantly optimistic, with over 91% of users expressing positivity about the token’s performance.
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