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The global market capitalization is currently down by 0.04% to $1.05 trillion. It’s an unfortunate further decline from Friday’s position. Nevertheless, it’s a marginal one.
In the last 24 hours, the market’s trading volume also amounted to $21.22 billion. It marks a substantial 24.98% decline. The decentralized finance sector contributed $2.25 billion to this total volume. That accounts for 10.61% of the entire crypto market’s 24-hour trading activity.
Stablecoins total trading volume reached $19.64 billion in the last 24 hours. This figure represents 92.56% of the entire crypto market’s trading volume during the same period.
Bitcoin now holds a market dominance of 49.11%, reflecting a marginal decrease of 0.11% in 24 hours. The next cryptocurrency to explode will need an outstanding performance to beat the current wave.
Treasury prices in the US money market recovered, while a key indicator of global equities declined on Friday. This downward movement accelerated the significant sell-offs seen earlier in the week. They were all triggered by statements from three Federal Reserve officials who expressed concerns about the necessity of more rate hikes to curb inflation effectively.
The Federal Reserve revised its projections for next year. It said interest rates could rise to 5.1% in the US. However, the Fed also upgraded its economic growth outlook in contradiction. These statements raise questions since higher interest rates always raise borrowing costs and may slow the economy.
Next Cryptocurrency to Explode
The financial industry continues to wade through these shifting dynamics. Investors are closely watching developments in the wake of the Fed’s remarks.
1. TG.Casino (TGC)
Another fast-paced player has emerged on the crypto scene. It is gaining the attention of whales and other categories of traders. The TG.Casino token with the TGC is having its presale, and the response has been outstanding. Investments have poured in rapidly, surpassing $150,000 in minutes.
TG.Casino is a Telegram-powered casino that offers a revolutionary revenue-sharing model. This model also incorporates a deflationary mechanism. This approach ignites excitement among traders and investors who see huge potential in the project’s long-term success.
The new platform has certain features that endear people to it. The first of them is its plethora of games. TG.Casino has a vast selection of highly polished games. This provision makes it an enticing platform for all types of gamers.
Besides its casino offers, TG.Casino includes an integrated sportsbook, providing a comprehensive gaming experience.
It’s, however, essential to note that TG.Casino is fully licensed by the relevant authorities to operate. Thereby ensuring a secure and fair gaming environment for all participants.
What differentiates TG.Casino from its competitors is that it integrates an intuitive deflationary mechanism into its ecosystem. This feature leads to token scarcity over time, making TGC holders enthusiastic about its long-term prospects.
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— TG Casino (@TGCasino_) September 20, 2023
This new project has already raised over $170,000 in investments. Many investors believe that TG.Casino has the potential to become the next cryptocurrency to explode.
The TG.Casino token presale is gaining rapid traction. Currently selling at $0.125, the token can be bought with Ethereum (ETH), Binance Coin (BNB), and Tether (USDT), with both ERC-20 and BEP-20 versions available. The TGC token is the platform’s native currency that allows users to place their bets alongside other significant cryptocurrencies. Players using TGC tokens will enjoy additional bonuses, rewards, and prizes.
The project runs on the Ethereum blockchain, with a total token supply of 100 million TGC. 40% of the token supply is put up for sale during this presale. It aims to raise $5 million in the process. Another 20% is set aside for liquidity to decentralized exchanges, 20% for staking rewards, and 10% for player rewards. The remaining 10% is allocated for marketing and affiliate payouts.
In the evolving crypto landscape, TG.Casino is a promising project that has captured the imagination of crypto whales and the broader crypto community. Its remarkable features, Telegram integration, and deflationary mechanisms make it a project to watch closely in the coming months.
2. Curve DAO Token (CRV)
Curve DAO Token (CRV) price rose to 8.69% on Saturday. During the week, data from Etherscan showed that about 1.8 million CRV tokens were sent from the founder’s wallet to Binance in two September 16 and 17 transactions.
The founder, known by the pseudonym 0xc4ad, explained on Twitter that no CRV tokens were sold during the transfer. He emphasized that it was a temporary activity conducted for testing purposes. He also assured the public that the CRV would be returned to his wallet when the test was completed. At that time, the CRV token price shrank from $0.42 to $0.38 in less than 24 hours, marking a nearly 10% drop. Currently, CRV is trading at $0.48, indicating that the market is getting back to business with CRV.
The token has struggled to recover since hitting its all-time low of $0.35 on August 31. But as soon as investors’ market confidence is back in full swing, CRV’s strength as the next cryptocurrency to explode will be evident.
Curve Finance recently unveiled several initiatives to enhance governance and incentivize its community. These include the launch of a treasury controlled by a decentralized autonomous organization (DAO), the introduction a fee-burning mechanism based on veCRV (voting escrow CRV), and partnerships with other protocols to create new liquidity pools and reward systems.
3. Theta Network (THETA)
The Theta coin is trading at approximately $0.86, as observed over the past week. Despite the prevailing bearish sentiment, Theta crypto has shown considerable resilience, maintaining a price above $0.8 since the outset of 2023. This resilience suggests the potential for the Theta coin price to see an upward trajectory, possibly reaching the $3 mark by 2025.
According to the current Theta price prediction for 2023, the Theta coin price is expected to rise and reach a maximum level of $1.85. The average cost for Theta Network is projected to hover around $1.2, with the minimum price expected to be around $0.7 throughout the year.
For 2024, THETA price prediction shows that the THETA price has the potential to rise to a peak of $2.3 and maintain a strong market presence by the end of 2024. The lowest anticipated Theta Network price is set to be $1.8, while the average Theta Network price is expected to stabilize at around $2.
Theta Labs has now been awarded U.S. Patent 11,763,332 for “Edge Computing Platform supported by Smart Contract-enabled Blockchain Network”. This new patent sets the foundation for many generalized compute tasks to be processed via Theta Edge Network.https://t.co/zLk6e5aa9I pic.twitter.com/pVQRBBqPr2
— Theta Network (@Theta_Network) September 21, 2023
2025 could prove to be a milestone year for THETA coin’s price. According to our THETA coin price prediction for 2025, it is forecasted to surpass an average price of $3.1. Furthermore, the cryptocurrency may achieve its highest price level, reaching $3.5, while the minimum expected price level might settle around $2.7. With this consistent rise, THETA is on its path to becoming thenext cryptocurrency to explode.
4. Algorand (ALGO)
There are signs that the highly-anticipated altcoin season may be here soon. Some altcoins, including Toncoin (TON), Cosmos (ATOM), and ImmutableX (IMX), have shown impressive performances in the past few days.
However, Algorand (ALGO) is a peculiar addition to this group. This peculiarity can be attributed to ALGO’s lackluster performance throughout the year. Yet, in the last seven days, its price has exhibited a 7.28% increase. Be it as it may, it can also be the next cryptocurrency to explode.
Even more surprising is the prediction from IncomeSharks, a crypto analyst, that ALGO might soon undergo a bullish trend and break out of a tight wedge formation. To achieve this upward surge, ALGO requires a substantial increase in trading volume, and the converging trend lines must draw closer.
It’s worth noting that just three months ago, AMBCrypto reported that nearly all ALGO holders were experiencing losses. While the underlying conditions haven’t seen significant changes, a potential breakout, if realized, could provide some relief.
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— Algorand Foundation (@AlgoFoundation) September 22, 2023
Moreover, specific on-chain metrics appear to support this projection. Algorand’s social dominance, which previously experienced periods of decline, has rebounded to 1.025% at the time of writing. Social dominance reflects the proportion of discussions surrounding an asset compared to others within the cryptocurrency market.
These recent developments in Algorand’s performance and associated metrics have drawn attention, leaving the crypto community intrigued about the potential future trajectory of this altcoin. However, it’s essential to exercise caution and consider the inherent volatility of cryptocurrency markets when evaluating such projections.
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