Since the end of Uptober, the market has been feeling positive overall. This month, Bitcoin (BTC) finally broke through its all-time high, approaching the $100,000 mark. Meanwhile, many investors have already reaped huge gains from November’s bull run.
Identifying the next cryptocurrency that could break out can be challenging, as most of the money is attracted to the upside assets. However, this article will explore the performance of cryptocurrencies with greater growth potential, especially before the end of the year. The goal is to identify coins with some potential and help investors and traders make informed decisions about each coin.
The next cryptocurrency that could explode
Today’s article discusses the performance of cryptocurrencies that could break out and that investors should add to their watchlist. Special mention is also made of the pre-sale token Catslap. This new meme coin introduces a Play-to-Earn (P2E) feature that brings a stronger utility advantage over other meme coins. Additionally, rumors of a major token burn have sparked optimism. These developments have begun to have a positive impact on the price of SLAP. Shared below are its pre-sale details and the performance of today’s top performing cryptocurrencies.
1. Harmony (ONE)
Harmony (ONE) has attracted a lot of attention in the crypto market, with its price surging by 32.10% in the past 24 hours. The surge highlights the growing interest in its scalable and fast blockchain solutions. Harmony's random state sharding technology ensures efficiency, making it an important player as the demand for decentralized applications (DApps) grows.
Its position is further strengthened by the platform’s Effective Proof of Stake (EPoS) consensus mechanism and open staking program, which enhance network security and attract developers and validators through its grant program, fostering innovation within the ecosystem.
Investors are impressed by Harmony’s strong fundamentals. With a liquidity ratio of 0.8712, trading remains smooth and convenient. Despite the recent price surge, the 14-day relative strength index (RSI) is 67.94, indicating a neutral zone, suggesting more room for growth before reaching overbought levels. This balance has sparked optimism among market participants.
Harmony has shown exceptional resilience over the long term. Its price has grown by an impressive 198.12% over the past year, surpassing 64% among the top 100 cryptocurrencies. Currently, the token is trading 164.80% above its 200-day simple moving average, demonstrating strong momentum and reinforcing investor confidence in its future potential.
2. Chainlink (LINK)
Chainlink (LINK) has recently shown impressive price action, recovering from lows seen in 2023. Analysts believe that the coin could be in the third wave of a larger five-wave cycle, which is consistent with HovWaves’ predictions on the macro trend of Bitcoin and Chainlink. Since starting with key buy points at $11.11 and $8.85, LINK’s price has risen by more than 1,85%, indicating a strong and sustained bullish trend.
In 2024, Chainlink started a new growth phase, entering an impulse wave. Currently, the price of the token is approaching a critical resistance level of $27. In recent weeks, LINK has maintained a clear upward trend, rising by 36.23% to close at $25.12. Breaking through the previous resistance level, the token now targets the important resistance of $38.32, and from the current price, it is expected to rise by 50.89%.
Institutional interest in Chainlink is growing. Less than 24 hours ago, leading investment firm BlockTower Capital purchased 144,799 LINK tokens worth approximately $3.44 million. The purchase highlights the market’s growing recognition of Chainlink’s important role in the blockchain and decentralized finance (DeFi) ecosystem.
The $100k competition to audit Chainlink’s Payment Abstraction just started on @code4rena and will last for 4 weeks.
Payment Abstraction is a core component of the billing system. It aims to reduce payment friction and simplify billing for users interacting with Chainlink services. https://t.co/jR4fsc8pwp
— Chainlink (@chainlink) December 6, 2024
Looking ahead, Chainlink’s appeal is enhanced by its partnership with 21X to launch Europe’s first regulated tokenized securities marketplace in early 2025. The collaboration aims to enhance market security, transparency, and efficiency, addressing challenges in the traditional financial system.
Chainlink's strong price action, institutional support, and strategic partnerships highlight its strong growth potential. With a bullish market outlook and expanding utility, LINK continues to establish itself as a key player in blockchain innovation.
3. Catslap (SLAP)
Catslap ($SLAP) is the latest cat-themed meme coin to attract attention. It was listed for trading on the popular centralized exchange MEXC on Friday, December 6, having been listed on the decentralized platform two weeks ago. Priced at $0.0071 at the time of the announcement, $SLAP is associated with the Slap-to-Earn clicker game, which is emerging as a competitor to the viral game Popcat.
MEXC is known for spotting the potential of meme coins, having backed early successful projects such as Pepe, Bonk, Dogwiffhat and Shiba Inu. MEXC hosted a Kickstarter campaign on Thursday, December 5 to build momentum and encourage new accounts and deposits. Trading will follow shortly thereafter, starting at 1:00 PM UTC, with withdrawals starting on Saturday, December 7.
Catslap is a unique and interesting addition to the memecoin market. It combines gaming incentives with strong exchange support. With MEXC listing and growing popularity, it is poised to become a standout token in the memecoin space.
The news of the listing caused the price of $SLAP to surge. As the tenth largest cryptocurrency exchange by trading volume, MEXC has a daily trading volume of $10 billion and 5.2 million visitors per week, which brings huge exposure to Catslap. This influence is likely to attract millions of new buyers.
In addition to gaming rewards, $SLAP holders also benefit from token burns triggered by Slapometer milestones. So far, significant burns have occurred at the 10 million, 25 million, and 100 million slapometer marks, helping to reduce token supply and strengthen value. Details of the next milestone have yet to be announced.
Visit the Catslap website
4. Sushi (SUSHI)
SushiSwap has become a leading automated market maker (AMM) platform. It drives a community-driven ecosystem by rewarding liquidity providers through its SUSHI token. The platform's liquidity mining feature attracts a large amount of liquidity, making it the first choice for DeFi users.
Recently, SUSHI has shown promising price action. The coin gained 22.30% in 24 hours, breaking out of the downtrend at $1.58. Currently, it is trading at $1.84, approaching the critical resistance level of $2.20. If SUSHI continues its bullish momentum, it may test further resistance levels of $2.20 and $3.68, bringing potential gains of up to 100% to the current price.
Additionally, the RSI indicator for SUSHI shows strong bullish sentiment, although it is approaching the overbought region. While this indicates market confidence, investors may need to be cautious as prices approach critical levels.
Which memecoin community will lead the way? Trade and win OP rewards for you and your team!
Join the Sushi x Base trading competition now: https://t.co/T59dBOmKUc
Details: https://t.co/yCFjFZlKHq pic.twitter.com/zcVGL55fUL
— Sushi.com (@SushiSwap) December 6, 2024
SushiSwap is also taking bold steps to strengthen its financial stability. The platform recently launched a "Financial Diversification Proposal" led by its Chief Chef Jared Grey. The initiative aims to create a more sustainable financial system by reducing its reliance on the SUSHI token. Currently, Sushi DAO's treasury relies heavily on its native token, making it vulnerable to market volatility. The new strategy involves liquidating some of its SUSHI holdings and diversifying them into a more stable portfolio of assets.
5. Uniswap (UNI)
Uniswap (UNI) is showing impressive price growth today, in line with the gains of many alternative coins. This upward momentum reflects optimism about a potential breakout, with many analysts predicting further gains for UNI. Increased activity within the Uniswap ecosystem is also driving interest in the token.
One analyst shared a particularly bullish outlook, highlighting that UNI has bounced back to key daily and weekly support levels, demonstrating its resilience. The analyst also praised the Uniswap ecosystem as one of the strongest in the crypto market, highlighting its rapid expansion. Some believe that UNI could become one of the top five cryptocurrencies in this market cycle.
On a technical level, UNI/USDT is attempting to break out of a descending resistance line that is limiting its price. If successful, such a breakout would confirm a bullish trend and could lead to significant price gains. Currently, UNI is trading in a range of $16.04 to $18.53, with bullish momentum driving it higher. Today’s price increase of 6.36% highlights growing investor interest, making the upside target achievable.
Fireblocks Clients Can Now Access Uniswap Protocol Directly on the Platform
This means that 2,000 Fireblocks clients have direct access to DeFi
This is an important moment to bring more institutions on-chain pic.twitter.com/pQuWGH5o20
— Uniswap Labs (@Uniswap) December 6, 2024
Additionally, Uniswap’s ecosystem is expanding with the introduction of new integrations. Enterprise-grade digital asset platform Fireblocks recently launched two features – Fireblocks Swaps and Fireblocks Token Allowance Manager – designed to enhance compatibility with DeFi platforms such as Uniswap and Aave.
These features allow users to access liquidity provided by Uniswap’s API directly within the Fireblocks console, increasing the platform’s appeal to both institutional and individual investors.
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