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The crypto market shot up its market capitalization in the last 24 hours. The market capitalization went up by 3.72% over the record in our last next cryptocurrency to explode post. It now stands at $1.08 trillion.
But the market shed 1.63% of its trading volume over the last 24 hours. The total trade at that time was worth $34.02 billion. The decentralized finance sector secured a trading volume worth $2.01 billion which accounts for 5.91% of the entire market’s volume. Whereas, stablecoins traded 94.28% of the market’s volume. The trades were worth $32.07 billion over the last 24 hours.
Bitcoin’s market dominance is also up by 0.30%. It is now at a 48.02% dominant rate in the market.
US stock markets had their best week since March as shares rose. The past week also brought calm along as the Feds decided to off interest rate hikes. The Eurozone is, however, struggling to find its feet amid heightened inflation. The ECB is yet to conclude on a decisive way forward.
The Next Cryptocurrency To Explode
The disposition of the financial market is influencing the crypto market quite as expected. But how long that can be sustained is yet to be answered. The crypto market’s entanglement with the stock market has always been a source of long debates too.
While the markets are doing well, there are specific cryptocurrencies and platforms standing out. Their exceptional outlook makes for the next cryptocurrency to explode. It is hoped that investors will take a cue from this post to make investment decisions.
1. Ecoterra (ECOTERRA)
Investors are always on the lookout for leading cryptocurrency presales in the market. This will help them quickly accumulate the ones they need before it gets to exchanges and become subject to market forces. There are always advantages to getting involved with new crypto assets early. Let’s explore the next cryptocurrency to explode.
Ecoterra offers its platform users an opportunity to earn tokens when they take part in its presale and when they recycle their waste, especially plastic bottles. The earned tokens can be further used in supporting different environmental initiatives. They can also be exchanged for other values on different exchanges.
Ecoterra is considered a top presale in the crypto industry right now with its distinctive qualities. This has helped the platform pull a lot of traction since the presale began. It has raised more than $5.1 million so far and it’s still going hard.
The Ecoterra project is quite a unique one. cryptocurrencies have the affliction of being tied to high carbon emission rates. There is always a controversy about their impact on the environment and ecosystem. The reason is quite simple too. Mining cryptocurrencies require high energy usage. Statistically, the energy required to mine Bitcoin alone has been compared with that of entire countries on an annual basis. It also comes with very high carbon emissions.
Most mining activities depend on power generated from fossil fuels. This contributes to the global problem of greenhouse gases and they worsen climate change effects. Also, the increased demand for mining rigs that require high power usage has created increased power wastage. This is because obsolete equipment is discarded at a fast rate.
You can confidently purchase $ECOTERRA without any concerns ⬇️https://t.co/1fYkPOsPYG pic.twitter.com/FHkoggEnHl
— ecoterra (@ecoterraio) June 14, 2023
Furthermore, crypto transactions on their own come with certain environmental hazards. Every transaction requires lots of computing power to verify and record them on a particular blockchain. This also consumes a lot of energy.
These environmental concerns have been noticed and a platform like Ecoterra rose in response to them. It runs on a proof-of-stake consensus that requires users to hold a number of coins in their wallets. This helps them validate transactions and also create new crypto blocks without having to use so much energy as they don’t require mining.
This innovation and approach give Ecoterra an advantage over a lot of other crypto assets in the ecosystem. It also draws environmentalists to the platform as they show their support for it.
Ecoterra’s native token, ECOTERRA, has become the darling of green revolutionaries. They eagerly want to see it thrive and want to see the platform grow. Other investors who haven’t are encouraged to join the ongoing presale.
2. Quant (QNT)
Quant is blazing hard in the market as it is currently up by 15.28% and selling at $113.17. It is showing signs of the next big cryptocurrency to explode. The lead reason for the token’s latest rise is its mother company’s recent announcement of a partnership with the Bank of England, as well as the Bank for International Settlement. The announcement centered around the Rosalind Project they are executing together. The project wants to explore the possibility of using APIs to develop a system for Central Bank Digital Currencies (CBDC).
The market has responded positively in all dimensions to this partnership. The native token, QNT, is not at the head of other tokens in the market. It is interesting to note that Ripple had a previous collaboration with the English apex bank on a CBDC project for the digital Pound. On top of that, Ripple has gone to secure the same collaboration with the Central Bank of Colombia for a national digital currency.
Quant now poses strong competition to Ripple with its recent collaboration and also strengthens its native cryptocurrency’s position in the market. There is probably no sign of the next cryptocurrency to explode stronger than that.
3. Hedera (HBAR)
Hedera is the next cryptocurrency to explode. The major reason for this is that the platform’s revenue has increased considerably. The network’s consensus service made sure of that.
According to statistics, Ethereum had a dominant status as it had the overall highest revenue in the first quarter of this year. But Hedera Hashgraph put up a huge surprise in the same quarter. Reports have it that Hedera saw a huge leap of 489% quarter-on-quarter increase. This level of impressive growth is connected to the usage and adoption of the Hedera Hashgraph consensus service.
The consensus service gives developers a new way of approaching distributed consensus. It helps to make sure that transactions are scalable and secure. The service is now gaining more traction and becoming popular among developers and businesses that need a more effective and robust blockchain solution for their systems.
This growth is also aiding the popularity and utility of Hedera’s native cryptocurrency, HBAR. It is currently up by 7.93% and selling at $0.04595 to lead a lot of other assets and platforms in the crypto market. The next big cryptocurrency to explode is drawing more investors these days.
4. Fantom (FTM)
The next cryptocurrency to explode is Fantom’s FTM. The network was created as an Ethereum contender so it could solve the problems of its limitations. Fantom is also expected to create a new level of blockchain that will solve the crypto trilemma of security, decentralization, and scalability.
Analysts expect that FTM’s price will still rise higher than its previous levels now that a governance proposal has been passed recently. The new proposal seeks to bring gas monetization to its successful decentralized apps. Monetizing gas will benefit Fantom and the developers working on it when it introduces a new source of income for them. It will also monetize transaction volumes that have been generated on the decentralized apps.
This will attract talented developers that will further ensure a sustainable and healthy network for all users. With the strength of its community, Fantom can increase its FTM value by as high as 750% in a month.
Fantom keeps attracting investors to itself as it holds a lot of prospects and returns in the near future. Investors yet to secure a place in the network should do so now.
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