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The global cryptocurrency market experienced a slight drop in the last 24 hours. The total market capitalization fell to $1.38 trillion, a decrease of 2.54% over the same 24-hour period. The latest event charges the expected price in the next cryptocurrency to explode.
In the last 24 hours, the total trading volume in the cryptosphere increased to $69.86 billion, which is a significant increase of 25.49%. The decentralized finance sector contributed $7.07 billion within this volume, representing 10.12% of the crypto market’s total 24-hour trading volume. Notably, stablecoins generated a trading volume of $62.96 billion, representing 90.13% of the entire 24-hour volume of the crypto market.
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bitcoin dominance currently stands at 51.58%. This percentage reflects a marginal decrease of 0.06% compared to the previous day.
Wednesday, Asian stocks They retreated from their recent two-and-a-half-month high, in parallel with a resurgence of support for the dollar, as investors cautiously tempered their previous optimism regarding the possible conclusion of interest rate increases in the United States.
Although the Federal Reserve released the minutes of its meeting overnight, traders discerned that the authorities’ commitment to “proceed with care” offered no new insights into the situation.
The next cryptocurrency to explode
During Asian trading, 10-year Treasury bond yields saw a marginal decline and settled at 4.40%. Since the Federal Reserve decided to hold rates at the beginning of the month, these yields have fallen approximately 50 basis points.
Interest rate futures markets indicate almost negligible chances that the Federal Reserve will implement further hikes, estimating around 90 basis points of rate cuts by 2024. There is a 30% chance that these cuts could begin as early as March.
1. FTX Token (FTT)
FTX (FTT) is currently trading at $3.54, with a 24-hour trading volume of $354.16 million. In the last 24 hours, the token has increased by 11.13%, which is an increase of 2.11% in the last seven days. However, data on FTX market capitalization is not yet available as the circulating supply of FTT tokens is not reported.
FTT’s all-time high stands at an impressive $84.18, recorded on September 9, 2021, approximately two years ago. The current price reflects a notable 95.69% decline from its record peak. In contrast, FTX’s all-time low was recorded at $0.776774 on June 10, 2023, approximately five months ago. The current price marks a substantial increase of 367.01% from this lowest point.
In a performance comparison with its peers, FTX (FTT) has shown an increase of 2.10% in the last seven days, outshining the global cryptocurrency market which has seen a drop of 3.40%. Similarly, when it comes to similar FTX Holdings cryptocurrencies, FTT has fared better, with an increase of 1.40%.
Market sentiment towards FTX (FTT) appears bullish today, with over 64% of users expressing positive sentiments towards the token. The pace at which it has recently maintained an excellent place in the spotlight indicates that FTT is the next cryptocurrency to explode.
2. bitcoin Minetrix (BTCMTX)
bitcoin Minetrix introduces a staking-to-mine mechanism that allows users to passively earn bitcoin (btc) rewards. This unique proposition continues to attract investors to the next cryptocurrency to explode.
By staking the platform’s native token, BTCMTX, users can generate mining credits, granting access to cloud mining power for bitcoin. This innovative approach aims to decentralize the acquisition of hashing power, giving users more control and authority than conventional cloud mining setups.
The platform’s staking protocol offers substantial returns, currently pegged at an impressive 141% APY. As bitcoin‘s April 2024 halving event approaches, which could decrease profitability due to reduced block rewards, bitcoin Minetrix’s Stake-to-Mine feature emerges as a measure of protection.
#BitcoinMinetrix envisions a renewed cloud mining landscape that merges ownership and cloud mining.
Through transparency, independence and security, #BitcoinMinetrix aims to lead tokenized cloud mining, providing a reliable solution $btc Mining road for everyone. pic.twitter.com/SOETy3de0a
—Bitcoinminetrix (@bitcoinminetrix) November 21, 2023
By allowing users to stake BTCMTX for the power of cloud mining instead of directly investing in expensive rigs and hardware, bitcoin Minetrix significantly lowers the barriers to entry to bitcoin mining. Traditional GPU mining rigs priced between $1,000 and $2,000 and ASIC miners costing tens of thousands are comparatively expensive investments, making this alternative model financially attractive.
With its innovative mining staking and staking models, bitcoin Minetrix addresses the changing needs of miners and offers long-term sustainable solutions. The ongoing pre-sale of bitcoin Minetrix has successfully raised over $4.2 million. Enthusiasts are intrigued by the project’s mine staking model and the development team’s $30,000 “Minedrop” giveaway.
At the current pre-sale stage, investors can purchase BTCMTX at $0.0117. Once this phase concludes, the price of BTCMTX will increase by 8%.
After the pre-sale, bitcoin Minetrix plans to list BTCMTX on major exchanges, including Uniswap. Looking ahead, its whitepaper outlines upcoming initiatives, including the launch of a mobile app and strategic partnerships with established cloud mining providers to improve capacity.
Visit bitcoin Minetrix.
3. THOR Chain (RUNE)
THORChain (RUNE) continues its upward trajectory to $5.63, with 24-hour trading volume rising to $888.21 million. The coin has seen a significant increase of 6.81% in the last day, which is an increase of 4.67% in the last seven days. The circulating supply of 300 million RUNE values THORChain’s market capitalization at $1.69 billion.
The all-time high for THORChain (RUNE) was recorded at $20.87 on May 19, 2021, representing a peak 73.19% higher than the current price. In contrast, RUNE’s all-time low stands at $0.00851264, observed on September 28, 2019, demonstrating a staggering 65,619.25% increase from the current price.
Over the past seven days, THORChain has shown a solid 4.80% rise, outperforming the broader crypto market which has seen a 3.40% decline. Within the BNB chain ecosystem, THORChain remains in the lead, outperforming other cryptocurrencies in growth by 0.00%.
Decentralized L1 Bullish Yield pic.twitter.com/zDZI6IXbmt
-THORChain (@THORChain) November 21, 2023
Community sentiment around THORChain is overwhelmingly positive, with over 86% of users expressing confidence and optimism about its current trajectory.
This rise amid market volatility means growing interest and confidence among investors. This favorable trend positions THORChain as the next cryptocurrency to explode.
4. Manufacturer (MKR)
Maker (MKR) price remains strong at $1,451, with a 24-hour trading volume of $151.61 million. In the last 24 hours, MKR has seen a commendable 3.37% price increase, extending its positive trend with a 5.26% increase in the last seven days. The circulating supply of 900,000 MKR puts Maker’s market capitalization at $1.31 billion.
Maker’s all-time high of $6,292, recorded on May 3, 2021, remains a distant peak 76.92% higher than the current price. In contrast, MKR’s all-time low was $168.36 on March 16, 2020, reflecting an impressive 762.46% increase from the current price.
Maker (MKR) has shown notable growth over the past seven days, up 5.30%. This performance is in stark contrast to the broader crypto market, which is seeing a 3.30% drop. When juxtaposed with similar cryptocurrencies from Polygon Ecosystem, Maker emerges as the leader, showing a significant growth of 0.00%.
@sparkdotfi just expanded its Maker debt limit by deploying an additional 400 million DAI, giving users doubled borrowing capacity.
The first batch of 20 million is now available.
→ https://t.co/NTHIoxIXUe pic.twitter.com/CHhMZINp0P
– Maker (@MakerDAO) November 21, 2023
Community sentiment towards Maker is overwhelmingly positive, with over 100% of users expressing confidence and optimism regarding MKR’s current trajectory.
Despite market volatility, Maker’s steady upward trajectory means growing confidence and interest among investors. This positive momentum positions Maker as the next cryptocurrency to explode. It should also be watched closely in the changing digital asset landscape.
Read more
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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