The dominance of the bears in the past few days seems to have had little effect on the performance of some cryptocurrencies. Yesterday, the price of Solana, for example, was forced into a dip by the bears. However, it’s back with a wide jump that puts its price far above $20 in the last 24 hours. The price action is not only evident in the performance of Solana alone. Kaspa, Polygon, and other key assets are showing potential for an incoming rally and price growth. Despite the activities of the bears, it’s time to take a closer look at the activities around crypto assets and see the ones that are ideal for hedging at the moment. That’s what this article presents to investors.
Next Cryptocurrency to Explode
Today’s article takes a deep dive into the charts of resilient cryptos. It’s going to point out the next cryptocurrencies to explode. While there are no specific dates to expect the explosion, it helps to keep an eye on their price movement to know how they’ll perform going forward.
1. Solana (SOL)
Besides Bitcoin, Ethereum, and Bitcoin which are currently preparing for an explosive run in the later part of the year, Solana, SOL, is another cryptocurrency that might see explosive growth in the coming days. Despite the intense shake of the asset received in the last 30 days from the use regulators and across Europe, the price of SOL went up by 15% which is virtually 5x of what the average increase recorded in the crypto market over the same period.
Currently, SOL has overcome all odds to embark on a growth trend that’s added 9% to its value in 24 hours. The only question to ask is whether it will be able to sustain the gains.
Don’t miss the @SuperteamDAO Solana ecosystem call, tomorrow Thursday July 5 at 9am EST!
Hear about the wins of the month, the state of the network, and the latest developments from thought leaders and contributors building on Solana.
— Solana (@solana) July 5, 2023
One of the factors sparking the surge in Solana is the recent social visibility the asset enjoys across major platforms. For example, Solana recently started generating intense buzz on Twitter and Reddit. While it may be trivial at explaining the surge, it reinforces confidence in the mind of holders. Another interesting factor that points to a potential surge is that the trading volume of Solana seems to follow the trend of its price gains. As the community pushes for more visibility, there’s a likelihood that the price of SOL would see a rally that could take up to $25 – $37 in the coming months.
2. Arbitrum (ARB)
Some speculation about rising competition in the layer 2 scaling solutions category has forced the price of projects like Arbitrum to embrace the downward trend. The continued bear pressure has forced 90% off the value of Aribrum over its lifetime. If quick measures are not taken to stall the downtrend, Arbitrum faces extinction, just like Terra Classic. However, these are exaggerated views as Arbitrum has over $2.2 billion TVL and does over $200 million trading volume in 24 hours. With such traction and activities, it’s almost impossible for an asset to go broke.
If there are claims that the future of ARB hangs in the balance, why include it in the list of the next cryptocurrency to explode? The answer lies in the recent action taken by the network. The decision to lock a vestibule of $770 million worth of its token has boosted confidence in the community. This has seen a surge in the value of the coin which went up by 2% in the last 24 hours compared to a month-long drop that took 11% of its value away.
Furthermore, details of its chart reveal that ARB has been testing its price resistance in recent months. With the coming ETH rally, there are chances that Arbitrum sees a rally in price as well. Similar occurrences ensued in the recent BTC and BCH rally that took the price of BCH from $164 to over $300 in 10 days. Investors might want to keep an eye on ARB. it could easily become the next cryptocurrency to explode.
3. Kaspa (KAS)
Kaspa gained a price increase of 12% in the last 24 hours. The price increase seems to go in stark contrast with the market. Moreover, the sudden surge in price is raising questions about whether KAS is the next crypto to explode. A quick dive into the details of a recent performance of KSA should provide a context.
However, firstly here is a quick refresher about KSA and its crypto category. Kaspa is a POW cryptocurrency using the GHOSTDAG protocol in contrast to the popular blockchain. The model allows Kaspa to create blocks at a cheaper rate using coexisting blocks and ordered consensus. Kaspa’s solution resolves the block query problem that plagues traditional blockchains, setting it apart from the rest.
The Kaspa platform has gained wild penetration and adoption as a result of its lesser fee and scalability. The affordability of the platform contributes to the reason it’s outperforming the market at the moment. As the market is down by 0.34% over as at press time, Kaspa has recovered and moved back into its upward trend.
Furthermore, a newly launched project Wrapped Kaspa is about to further strengthen the progress of KSA by creating a cross-chain link between the Ethereum chan and the Kaspa platform. What this means is that the playing field is about to get bigger and the Kaspa community might be plunged into a broader field of opportunities.
With the development, there’s likely going to be less dump of the KSA tokens and more acquisition, which is sure to drive up the price. This is already evident on the chart as the trading volume of KAS dropped to -25% in the last 24 hours while its price soared by nearly 12%. Kaspa is on an explosive journey that might push its price up by multiple percent in the coming weeks.
4. Polygon (MATIC)
Polygon is the second most popular layer 2 solution in the Ethereum network. The asset has been on the rise recently for its vast use cases and cross-chain integration. As of today, polygon has the highest market cap in the layer 2 category of the Ethereum network, with a value of over $6 billion. Similarly, Polygon is one of the fastest-growing solutions in the Crypto industry. It recently announced that the platform is moving to improve its architecture which may further increase its scalability and improve its operation.
Viewing the trend of MATIC, recent price actions indicate that it’s embattled with the $0.6 resistance, which could either force down the price to as low as $0.3 or push the price in a breakout towards $0.9. However, with the support formed at the $0.5 to $0.59 zone and the bear market subsiding, it’s unlikely that the price pushes further below. MATIC might be on its way to an upward gain in the coming days.
1/ Today, we are excited to propose the Polygon 2.0 architecture, designed to provide unlimited scalability and unified liquidity, thus transforming Polygon into the Value Layer of the Internet!
— Polygon (Labs) (@0xPolygonLabs) June 29, 2023
Furthermore, the recent partnership between Polygon and Immutable to create the zkEVM rollup is groundbreaking progress for MATIC. It opens more opportunities for game developers to tap into the vast reach of immutable and Polygon. In the meantime, the two platforms might be seeing price movement in the coming weeks.
5. Launchpad XYZ (LPX)
With the performance of the crypto industry in the last three days, the value of platforms like Launchpad XYZ becomes evident. Traders have been plunged into decision paralysis, wondering which asset would outperform the market going forward. The fact that cryptos like Litecoin and Ethereum with massive upcoming events took a big hit shows how predictable the market could be. The question is; what if there’s a way to make better cryptocurrency investment decisions? What if you can spot opportunities before they become mainstream?
Launchpad XYZ is creating a consumer-facing solution that provides insight and analytics into Web 3.0 for trading and investment decisions. The goal is to make Web 3.0 more accessible to everyday users. It leverages the power of simple interfaces to present the complex concept of Web 3.0 to users.
Tired of limitations in swapping digital assets? Get ready for #LaunchpadXYZ‘s decentralised exchange!
Experience the freedom to effortlessly swap hundreds of assets without barriers
— Launchpad.xyz (@launchpadlpx) July 7, 2023
Currently, the project is in its presale phase with over $1,122,914.33 raised so far. At the moment, it’s gradually moving towards its goals. Also, It has set its eyes on the $1.5 million mark and might cross it any day soon. After that, investors can no longer buy LPX at its current price. The price becomes $0.046. Fast investors can still scoop up a large chunk of LPX at $0.0445 before the price changes a few days from now. What sets Launchpad XYZ apart in the crypto industry is its combination of both utility and financial benefits.
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