Next Crypto Explosion Friday February 23 – Pixel, Ethereum, Siacoin

adminFebruary 24, 2024

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Bitcoin wasn’t the only cryptocurrency to see surprising performance this quarter. Several other tokens are poised to become the next cryptocurrency to explode. Siacoin, Pixel, and the Pyth network are projects that are making waves in the industry.

Pixel’s recent performance demonstrates the prospects for assets in the GameFi sector. Likewise, Pyth’s drive to improve services in on-chain-off-chain data access exposes gaps in the Oracle sector. Updates on trends and performance are covered below.

Next Cryptocurrency to Explode

Meanwhile, the cryptocurrency market has recently seen existing assets setting new ATHs across the board. Nonetheless, new and upcoming cryptocurrency projects are also making moves to build an impressive reputation. An example is the Meme Kombat pre-sale, which is scheduled to be redeemed in the coming days. The community has shown resilience, and the timing of the release seems relatively perfect, coinciding with the ongoing bull market. More details will be provided later.

1. Siacoin (SC)

Siacoin recently surpassed several billion dollars in market capitalization, surpassing several existing cryptocurrencies. The project is one of the main competitors of Filecoin, a popular blockchain-based storage system, and is fighting hard to outpace its market share. The core value proposition is to provide storage services for blockchain projects through decentralized, decentralized cloud storage technology.

At its core, Siacoin’s trustless features make it a platform for most cryptocurrency-based projects, which explains the rising value of its native token, SC. Additionally, growing investor interest in decentralized infrastructure is contributing to Siacoin’s performance.

SC price chart

Recently, the project’s native token, SC, has recorded impressive price performance, rising nearly 65% in value over the past seven days. Additionally, in the last 24 hours, the giant’s trading volume has increased by more than 12% and its trading volume has increased by more than 10%.

We just posted our January Grant Program Update! https://t.co/rNeSk0LDCS
— Sia Foundation (@Sia__Foundation) February 9, 2024

Much of the token’s outstanding performance comes from creative initiatives, such as its recent grant program that provided up to $100,000 to some participants. Additionally, the bullish trend in the cryptocurrency market favors assets in the physical infrastructure category.

There is speculation that the community may launch more innovations that would trigger an increase in the price of SC tokens. It’s still unclear what that is. In the meantime, investors should add Siacoin to their watchlist of the next cryptocurrency set to explode.

2. Ethereum (ETH)

The value of ETH tokens is rising ahead of two events expected globally: the Dencun upgrade and the spot ETF. Such an event is expected to push Ethereum’s value to new highs, but the whale activity recorded on the network is already putting pressure on the $3,000 resistance level.

ETH price chart

On several occasions over the past 30 days, ETH has attempted to break above the range several times. However, bearish pressure kept the token price below $3000. The general belief across the market is that ETH charts will likely follow BTC upon ETF approval. As a result, investors can expect a surprising rise in the price of ETH through the end of this quarter and most of the next quarter.

Meanwhile, the current price decline provides an opportunity to buy the dip ahead of the upcoming event. RSI on the daily chart is currently above the 72 range. Oversold pressure will continue to push the asset price towards the $2800 range. Therefore, this is an opportunity to establish a bearish position before ETH starts to rally.

📣 The first ZK Grants Round has begun!
The Ethereum Foundation teamed up with Aztec, Polygon, Scroll, Taiko, and zkSync, each contributing $150,000 to the shared prize pool, for a total of $900,000.
Please apply by March 18th! 👇https://t.co/u1lGRfc4CV
— Ethereum Foundation (@ethereum) February 21, 2024

The Ethereum Foundation is also maintaining momentum in putting the community in the spotlight. We recently asked the cryptocurrency community to apply for ongoing subsidies until mid-March. This grant hopes to spark the development of ZK projects in the ecosystem.

3. Meme Combat (MK)

Investors are highly interested in the Meme Kombat project as the cryptocurrency GameFi trend grows. The growing commitment to the project is evident as it has received millions of dollars in funding from a recently concluded pre-sale offering and has thousands of investors on its waiting list eager to reap explosive profits upon listing.

As of this writing, aspiring investors have only 11 days to join the community before Meme Kombat is exchanged. The price remains discounted at $0.279, and the pre-sale page remains active for more investors to benefit.

Staking Number:
👉 40m+ $MK walked
👉 9m+ $MK compensation paid
👉 12.5k+ strikers
And we are currently offering 98% APY on staking. $MK ⚔️ pic.twitter.com/SapVA3wA8U
— Meme Kombat (@Meme_Kombat) February 22, 2024

Meme Kombat differentiates itself from other GameFi projects by expanding the game’s economy to include staking and betting. Interestingly, MK holders do not need to wait for their tokens to be listed on exchanges before participating in a staking plan. It offers stakers up to 99% APY and has thousands of participants.

Overall, Meme Kombat has dual value for investors. First, it provides a fun gaming experience, and secondly, it provides a wealth-building experience through the GameFi feature.

Visit Meme Kombat Presale

4. PYTH Network (PYTH)

As the demand for blockchain interoperability technology grows, there is a need to service projects like Pyth Network. It is currently said to be the largest first-party Oracle network. It provides real-time data to dApps, and more than 40 blockchains currently utilize its services.

Oracle’s growing presence in the segment is reflected in its prices, which have risen significantly since its launch in the fourth quarter of last year. As demand for physical infrastructure grows, so will the demand for services from projects like the Pyth network. Being one of the biggest players in the niche gives Pyth an edge and positions it as one of the next-generation cryptocurrencies.

PYTH price chart

At the time of writing, the price of this project has risen by more than 2% in the last 24 hours and has risen by about 10% cumulatively over the past 7 days. The increase in value will continue throughout the bull market as new projects join the DePIN sector every day.

#PythNetwork Provides real-time price data across major asset classes.
Developers have permissionless access to over 400 price feeds across digital assets, cryptocurrencies, FX and ETFs, commodities, and stocks.
Take a look at our latest blog posts below. pic.twitter.com/5i2yFoTQCL
— Pyth Network 🔮 (@PythNetwork) February 21, 2024

Additionally, the growing demand for ETFs, FX pairs, and commodity data across blockchains all leverage the capabilities of Oracle services such as Pyth. As the use of these platforms increases, the price of native tokens for Oracle services, including PYTH, will increase.

5. PIXEL

Ronin has recently attracted attention after recording unusual price fluctuations. However, another project in the Ronin ecosystem gained attention. After news of PIXEL Binance listing appeared online, many people rushed to take a position as FOMO gripped most GameFi investors. As expected, PIXEL’s price soared more than 30%, reaching a market capitalization of $500 million.

Nonetheless, as rumors about PIXEL’s listing died down, the value of the assets became clear. As of press time, Pixel prices are down about 6%, and transaction volume is down compared to what was recorded a few days ago.

pixel price chart

Recent data on the chart shows that PIXEL is trying to maintain a sideways trend as bullish and bearish pressures fail to determine direction. However, according to recent data, PIXEL currently has up to 350,000 users who have spent over 1.4 million PIXEL on the platform. Considering that the game debuted in a little-known ecosystem, the progress is remarkable.

This trend is similar to what we see in major games like Clash of Clans. It also follows the Anxie infinite path. PIXEL investors could be some of the biggest winners in this bull market as trends suggest the game could be one of the next cryptocurrencies to explode.