As cryptocurrency prices fell slightly, skepticism returned to the market. This trend has led many cryptocurrency investors to speculate on the return of crypto winter. However, the far right of the market believes that the temporary pullback in asset prices provides an opportunity to find the next breakout cryptocurrency.
As bulls fight for control of the market, it is best to observe market trends objectively to identify the cryptocurrencies that may break out next. When the market returns to an uptrend, most cryptocurrencies will be trading well above their highest historical values.
The next cryptocurrency that could explode
Those who got in at the bottom of Bitcoin now hold Bitcoins worth many times their initial investment. However, the opportunity to own Bitcoins does not end as a team has recently proposed a democratized Bitcoin mining initiative called Bitcoin Mining. The project aims to allow investors to mine Bitcoin using the platform's native cryptocurrency. Details on Bitcoin Mining are included in this article.
1. Ethena (ENA)
Ethena is one of the cryptocurrencies that was recently listed on the Binance exchange. After being listed on the platform, the price of Ethena entered a parabolic trend, appearing on the list of top gainers for most of the week. In the past 24 hours, the price of the project's native cryptocurrency ENA has grown by more than 75%, and the trading volume has increased by about 75%.
Ethana has attracted investors' attention by becoming a project that replicates the real-world monetary model in the crypto ecosystem. It is called the synthetic dollar protocol. The idea is to build it into a banking system that does not rely on existing banking infrastructure. As the real value of the Ethena protocol is revealed, investors may see significant growth in its underlying asset, ENA.
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– Ethena Labs (@ethena_labs)
April 2, 2024
ENA is the platform's governance token, which was distributed after a successful airdrop program on April 2. The token was distributed in proportion to the points earned before the first of the month. At the same time, the growing value of the token makes it an excellent asset for short-term opportunities.
However, investors must be aware of two long-term red flags that threaten the sustainability of the project and the short-term value of its cryptocurrency. The first is the re-staking model of the project's USDe, which many worry is the same approach taken by Terra's UST. Second, the more than 750 million ENA distributed during the airdrop will likely flood the market at a new all-time high. As a result, ENA may experience multiple cycles of price volatility.
2. Flare (FLR)
Flare has had an excellent performance over the past 24 hours. The token’s price has grown by 26%, pushing its market cap close to the $2 billion range. Today’s gains are not the first for FLR in recent times, as the token has already gained more than 29% in the past 7 days.
The accumulated gains of Flare have helped holders who bought in the middle of the previous quarter to regain profits. In addition to the price increase of FLR, the token’s trading volume has also increased by more than 800% today, which also explains the growth of the asset’s value.
If FLR maintains its current rally, the coin is likely to test its highest historical value range before the end of this quarter. Therefore, investors should pay close attention to the trend of FLR, as it may become one of the next cryptocurrencies that may break out.
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– Flare ☀️ (@FlareNetworks)
March 22, 2024
Additionally, Flare is working on a fundamental upgrade that will give the platform a competitive edge in the Oracle and AI space. The latest announcement on its Twitter account announced the launch of FTSov2, which is believed to give dApp developers access to over 1,000 data sources.
This move will significantly increase demand for Flare’s services, and the use cases for FLR tokens are expected to increase significantly. Given recent upgrades and announcements, the chances of FLR breaking through its highest all-time value are relatively high, so investors should pay close attention to its trends this quarter.
3. Brett (BRETT)
Brett is one of the newest memecoin projects on the crypto market. More importantly, the project takes advantage of the growing visibility of the Base chain. In the past 24 hours, the price of BRETT has increased by more than 87%, reaching a market cap of $656 million. Due to its position on Base, the project is comically called Pepe's Good Friend.
Brett first reached its highest all-time high late last month, with a value of $0.085. However, the asset’s current trend shows that it is likely to see a new all-time high soon. One factor that could spark the momentum needed to break through its all-time high is the current consolidation trend in the crypto market. As investors continue to look for assets to hedge their gains, BRETT and other noteworthy assets could be the next cryptocurrencies to break out.
As Brett holds the position of the second largest memecoin project on Base, investors can expect its sheer size to provide it with the advantage it needs to reach new values. Most importantly, since a large amount of fundamental data shows that Brett is one of the next cryptocurrencies with the potential to break out, it is best to put this coin on your watchlist.
4. Bitcoin Minetrix (BTCMTX)
The presale for Bitcoin Minetrix is coming to an end, and the project has raised $12.8 million in funding. As the project approaches the $13.79 million milestone, the opportunity to participate at a discounted price is closing quickly. Therefore, investors who want to participate in the next generation of Bitcoin mining have a clear window to participate.
The project aims to democratize Bitcoin mining, a move that will forever change the way the market mines cryptocurrencies. However, Bitcoin Minetrix not only aims to disrupt Bitcoin mining, but also provides investors with the opportunity to profit with its cryptocurrency, BTCMTX tokens.
@Bitfarms_io
is supporting the cryptocurrency industry with a massive $240 million investment in its mining equipment.
#Bitcoin
Prepare for halving!
With the tripling of hash rate capacity and improved efficiency, how do you think this will affect
$BTC
Mining industry?
There is another breakthrough...
pic.twitter.com/UWDiaEqLfW
– Bitcoinminetrix (@bitcoinminetrix)
April 3, 2024
Finally, as the project goes live and its tokens are listed on exchanges, investors have the opportunity to enjoy a double return. First, anyone can mine Bitcoin with $10. Second, the growth in the value of BTCMTX provides investors with an opportunity for a return rate. The project's pre-sale page provides more information.
Visit the Bitcoin Minetrix presale page
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The next cryptocurrency that could explode in 2024
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