The global cryptocurrency market is largely in the green zone today as the total market capitalization rose by 0.72% to stand at $1.07 trillion. It is a significant improvement over the records in our previous next cryptocurrency to explode post. The entire crypto market had a trading volume worth $28.69 billion over the course of the last 24 hours. This is a 42.23% jump over that of the previous day.
Decentralized Finance had a trading volume worth $1.73 billion over the last 24 hours and it amounts to 6.03% of the overall crypto market’s trading volume. Whereas stablecoins recorded deals worth $27.08 billion at the same time. That amounts to 94.37% of the market’s 24-hour trading volume.
Bitcoin’s market dominance also jumped by 0.35% in the last 24 hours to give the first cryptocurrency more boost.
The global financial system is experiencing mixed actions from several central banks in their preferred ways of dealing with inflation. While the US Federal Reserve decided to put a hold on rate hikes last week, Australia’s central bank has increased rates. China, on the other hand, reduced rates, and this action left lots of Chinese businesses disappointed.
JPMorgan, according to Bloomberg, has said the ongoing shares rally may face risks due to stalled economic growth. The crypto market stands aside to benefit from any fallout when investors seek to hedge their funds from inflation.
The Next Cryptocurrency To Explode
Be it as it may, the crypto market is showing signs that it might be out of the trenches of the externally induced downtime. Investors now have a recovery to focus on and get their favorite cryptocurrencies back to their pristine states.
The market gainers today are a mix of the first 20 tokens and others far behind on the list. This further shows that investors are diversifying their investments from the lead tokens to shore up the less known ones as they also hold high return prospects.
1. AiDoge (AI)
Since AiDoge’s presale began, it was always sure to be the next cryptocurrency to explode. The presale came to an end and it was a huge success from beginning to end. It raised 14.9 million through 20 stages. The fund was raised in record time which many did not expect to happen.
After the waiting period for its Claims and Launch date, AiDoge has now announced the listing of its AI token on the MEXC crypto exchange. This means investors will now have the opportunity they have been waiting for to multiply their returns on the cryptocurrency.
AiDoge is not a memecoin project that relies solely on community support for its value. It is known that once community support for such tokens begins to wane, so does their value. AiDoge, on the other hand, has actual intrinsic value as it offers an actual utility that separates it from others.
AiDoge has an artificial intelligence meme generator that it uses to create memes for users based on their descriptions. The platform also lets users mint memes as NFTs. this solves the problem of ascribing ownership to viral memes. Users can now truly own the hilarious memes that they would create.
Furthermore, AiDoge features a public wall where users can browse through every meme that has been created on the platform. Users can also vote for any meme they consider favorable.
With these features, it comes as no surprise that the AI token sold out in its presale and raised so many funds fast. It is, therefore, not doubtful that the AiDoge project has potential and it invites investors to get in.
AiDoge is now listed on MEXC and the listing opens the path to more opportunities for everyone involved. It will be listed with the new ticker AI2.
2. Solana (SOL)
Solana is also doing amazingly well in the market today as it rose as high as 3.38% on the day. The token has shown great strength in recent times and continues to prove it is the next cryptocurrency to explode. Part of the factors giving the native token, SOL, a hard push in the market is the platform’s launch of the first Web3 phone, Solana Saga.
April this year was the first time ever that a blockchain company would be launching a phone. The phone comes with all the regular features users would expect from any phone. But this one comes with an added feature of Web3 user experience. These features include a store for decentralized apps and easy integration with crypto wallets. Analysts have called Solana Saga the phone that keeps giving.
The phone, since its launch in April, has been on preorder. Those who got it have gotten airdrops such as Saga Pass. The Saga Pass holders equally got lots of art airdrops as NFTs ahead of the launch. The phone and its features were announced by Solana’s co-founder, Anatoly Yakovenko on the 13th of April.
Analysts have asked what lies ahead for Solana’s Saga phone. Does it have the potential to compete with, or even beat established brands like iPhone or Android devices? It might not be likely in the near term as it is an experiment to offer certain user experiences to Solana and Web3 users.
The move also influenced activities in and around SOL such that investors see more prospects around the token. Its utility will grow in the coming months when the phone gets into mainstream usage. It might be deployed to pay for specific services and other physical utilities while using Solana Saga. Investors are on the lookout for how the next big cryptocurrency to explode will get influenced by a platform hardware device.
3. Curve DAO Token (CRV)
Everyone knows the crypto market operates much like a roller coaster. Not just for the price actions but for its sheer multitude of innovations. That is what it is built around, ultimately. Projects consistently try to outperform each other by creating new features and fighting tooth and nail for investors’ money and attention.
One of the most innovative projects the crypto market has seen is Curce DAO. a protocol that has come to gain significant popularity.
The Curve DAO platform was specially designed for the benefit of stablecoins. Now it has also gained so much popularity in the decentralized finance space. While it is focused on minimizing slippage and managing asset liquidity, the protocol has become a synonymous name with decentralized finance itself.
Curve DAO, by its operation, leverages smart contracts and liquidity pools. With that, it helps users to exchange ERC-20 tokens and stablecoins at the best rates possible. The platform also uses its native token, CRV, to incentivize liquidity providers and lets the token holders take part in the network’s governance system.
CRV token holders also get in line to receive returns on their investment in the network and its native token. While the token sells at $0.6274 now, investors are drawn to invest heavily as the price is set to rise higher in the coming days because of its platform features and services.
4. Chiliz (CHZ)
Chiliz has shown signs of the next cryptocurrency to explode with its latest bounce back following its last dip. The platform’s native token, CHZ, was in the bearish zone for a while and was nearing the bottom. Now that it is getting out of the trenches, it remains for the token to sustain its bullish push.
Probably some new events will aid the token’s position. The most important of them is the recent announcement by the platform’s founder, Alexandre Dreyfus, that the CHZ token has received the nod of the Indonesian government and regulators.
The approval could not have come at a better time when bulls are looking for good enough reasons to keep investing in the asset. The announcement was a much-needed action in the right direction with the power on giving investors more confidence to invest.
CHZ bearish traders are now out of gas after they drove the price action all along. It is time for bulls to take full control and push as hard as they can.
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