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It's a new week and the market is already setting the pace. In today's next update on cryptocurrencies set to explode, we will review the top performing cryptocurrencies and explore their future performance.
However, before we get into the details, what is the current outlook for the cryptocurrency market? Overall, bitcoin beat the odds and surpassed the price of $41,000, a feat that surprised many who had predicted a price drop.
The next cryptocurrency to explode
Furthermore, the global crypto market capitalization maintains its upward trend with gains of 1% in the last 24 hours. However, trading volume recorded a 32% drop in value in the same period. As the crypto community approaches the halving year, anticipation for bombshells is high. Additionally, the bitcoin Minetrix pre-sale is seeing impressive progress. The evidence that it could become the next cryptocurrency to explode is undeniable. Below is a quick summary of everything investors need to know.
1. Batteries (STX)
Will stacks become the next cryptocurrency to explode? With its relative strength index approaching oversold, Stacks could be approaching a price decline. However, the stacks may still have enough room for more bull runs as key indicators reveal possible bullish trends ahead. Currently, its MACD level (12, 26) shows a value of 0.0370, indicating further bullish potential.
Furthermore, its long-term moving average remains below its current price trend, pointing to sustained uptrends. In the last 24 hours, its price rose more than 5% and its trading volume reached more than $278 million in the early hours of today.
In the last 52 weeks, STX has seen a price increase of over 599% and has performed better than bitcoin and ethereum. With its high liquidity, investors can expect to see increasing value in the coming weeks.
Ultimately, if stacks can overcome the $1.5 resistance, investors can focus on $2. Otherwise, it could trend down towards its $0.8 range. Most importantly, investors should keep STX on their watch list as its trends reveal that it could be one of the best cryptocurrencies to buy now.
2. NEAR Protocol (NEAR)
NEAR ranks as one of the best performing cryptocurrencies this quarter, with a price increase of over 100% in the last 30 days. It is not the first NEAR price rise recently, as its price has seen a 300% increase since the start of the rally in October.
In addition to its rising price, NEAR also recorded a trading volume of $200 million in the last 24 hours, a feat that could put more pressure on its price in the coming days. Therefore, the NEAR bulls are still on the move and can maintain their price in the uptrend.
However, will NEAR become the next cryptocurrency to explode? Recent trends show that NEAR's glory days are not over as they indicate impending bullish trends. The recent increase in daily active users on the network further increases the confidence of holders and investors that there is a brighter future ahead of the token.
Furthermore, with a sentiment score of 70 and bullish moving averages on both short-term and long-term signals, traders can expect to see a rising NEAR price for the remainder of the quarter, even into the first quarter of next year. It is speculated that holders can expect its price to rise as high as $5 before the end of the next quarter.
An all-time record of 13.19 million transactions in the last 24 hours and 350,000 NEAR tokens burned.
It's very nice!
Enrollment is a new digital asset creation mechanism on the blockchain, originating from the bitcoin network through the Ordinals Protocol.
Learn more about the first… https://t.co/u1KyhLLFVP pic.twitter.com/BGK7ZEfF1C
– NEAR Protocol (@NEARProtocol) December 1, 2023
However, NEAR may face obstacles in its attempt to record new highs. Its performance is still below the typical trend of major cryptocurrencies, including bitcoin and ethereum. Therefore, the prospect of a prolonged rally may not materialize as investor confidence may weaken over time.
3. bitcoin Minetrix (BTCMTX)
As the bitcoin Minetrix The community continues the march towards the disruption of bitcoin mining, the door remains open for investors who want to join the project. Its BTCMTX remains on sale at a discounted price of $0.0125.
At the close of this edition, bitcoin Minetrix has raised more than $6 million for its goals. What's more interesting is that interested investors still have a chance to buy before the price of the token rises by a few cents in the coming days.
According to its pre-sale page, investors who purchase within three days may have to pay a much higher price to participate. And when it comes to tokenomics, the team puts the community first. A large part of the offer is offered in pre-sale and another considerable part is reserved for marketing, community rewards programs and betting.
Just one day until #BitcoinMinetrix Stage 16 concludes!
What common misconceptions bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining have you encountered? pic.twitter.com/7dzGrEFVxW
—Bitcoinminetrix (@bitcoinminetrix) December 31, 2023
There is great potential for BTCMTX in the future, especially as the crypto industry approaches the halving year. Investors should keep an eye on the token so that it can become the next penny cryptocurrency to explode. More detailed highlights are available on their pre-sale page.
Visit the bitcoin Minetrix pre-sale
4. THOR Chain (RUNE)
RUNE has been trending for its impressive performance in the quarter. However, it recently started trading sideways, making many investors wonder if RUNE is still a safe bet. Over the last 52 weeks, RUNE has generated over 300% of its value, making it one of the biggest gainers in the market. Will RUNE become the next cryptocurrency to explode? RUNE recently faced a rejection in the $7.12 range, forcing its price down to $5.2.
However, the downtrend presents an opportunity to capitalize on the asset's cheaper price. With the altcoin rally speculated for next year, RUNE is in the right position to become one of the tokens to watch.
However, will the bulls be able to keep RUNE in the uptrend over the next quarter? Or the rest of the quarter and most of next year? The crypto community's expectations for the coming year are high, which is currently reflected in the trends in several major cryptocurrencies.
One hundred thousand unique swappers in November pic.twitter.com/MDIxXUpjhD
-THORChain (@THORChain) December 2, 2023
Therefore, RUNE is prepared to maintain its gains. Overall, RUNE's performance to date outperforms bitcoin, ethereum, and over 94% of the cryptocurrencies on the market. Additionally, there has been a significant increase in transactions through its network, with over a hundred thousand swaps in November alone.
Traders and investors should watch RUNE trends closely as it is technically and fundamentally poised to generate explosive price gains.
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