Next Crypto Explosion Thursday, May 23 — Bittensor, Livepeer, Ethereum Name Service, ConstitutionDAO

adminMay 24, 2024

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The cryptocurrency market appears optimistic, with some coins attempting a rebound. Bitcoin (BTC) is gradually heading back towards $70,000 to find support for the next big move. Investors should pay attention to this consolidation phase as it could be an opportunity to follow the upward trend.

Institutional investors are now paying more attention to interoperability and tokenization of real-world assets. The prices of these assets are rising even before the market fully rises. The goal is to identify: next cryptocurrency about to explode Inform investors and traders about each token.

Next Cryptocurrency to Explode

Next month, the attention of the cryptocurrency market will turn to the altcoin sector to make the most of it. Therefore, investors can take advantage of the moment and take positions in upcoming tokens like Dogeverse. The project allows investors to explore different chains to find the most profitable decentralized monetization opportunities. This post contains detailed information about presale.

1. Bit Tensor (TAO)

Bittensor, a decentralized AI project, has seen a significant increase in the value of its token, TAO. Over the past day, TAO has risen more than 10%, possibly due to unconfirmed rumors that Grayscale plans to register new trusts for the token. bittensor The price rose 11.55% to $475.64. this According to CoinMarketCap data, this represents an increase of 20.85% compared to last week.

These recent achievements make TAO the best-performing asset in CoinGecko’s top 100, even surpassing PepeCoin, the favorite ETH meme coin. CEYEBER, an anonymous Crypto Twitter user who founded the official Bittensor community channel on Telegram, claims that the Grayscale rumors have been “confirmed by close sources.” Nonetheless, there is no evidence in the SEC filings to support this.

Bittensor price chart

If the TAO offering were structured as a closed-end fund available over-the-counter to wealthy investors, similar to the Grayscale Bitcoin Trust before it became a cash ETF, there would likely be regulatory filings. that much taobotPart of the Bittensor ecosystem had a successful week.

On Tuesday, the team announced that it had been accepted as one of the first projects to participate in Akash Network’s LlaMa 3 API beta. that much taobot The team has also begun collaboration with Blockchain Insights, a Bittensor Subnet 15 project. The partnership aims to enable users to analyze blockchain data using simple language.

2. Live Peer (LPT)

Since the beginning of this month, LPT prices have shown a strong upward trend, rising 87.95%. Additionally, over the past 24 hours, altcoin trading volume surged to $169.24 million, representing a 134.79% increase and a 6.45% price increase.

Livepeer is one blockchain project that has significantly changed the way we consume content. Recently, Livepeer introduced a new feature called AI video generation layer. Announced during Berlin Blockchain Week, this update raised high expectations. Livepeer will be showcasing its latest products. Development Decentralized content creation and streaming at events.

Livepeer price chart

The new feature adds generative AI capabilities and video generative subnets to Livepeer’s fast, distributed streaming approach. this Creating and viewing content. it’s simpler Decentralization makes it cheaper. Creators handle creation, editing, and submission of their work, and Livepeer manages distribution.

Introducing the Livepeer AI subnet! 🚀
The emergence of generative AI represents a groundbreaking change in video production. That’s why today we’re launching the Livepeer AI subnet, the world’s first decentralized video processing network with AI computing capabilities.
Let’s jump in 🧵👇 pic.twitter.com/SFXlGwYTyY
— Livepeer (@Livepeer) May 21, 2024

Livepeer’s LPT tokens are issued as a reward to the 100 Orchestrators who set the network’s consensus. Recently, the number of delegated tokens has decreased, while the inflation rate has slowed to 0.046% with the introduction of new orchestrator rewards. Livepeer also plays an important role in the Arbitrum network, maintaining some activity on Ethereum.

3. Ethereum Name Service (ENS)

As the likelihood of a spot Ethereum ETF being approved increases, the Ethereum Name Service (ENS) has seen a significant increase. Accordingly, profit taking began at ENS, and the stock price soared by up to 50% in the past two days. There has been a notable increase of over 12% in the last 24 hours alone.

Over the long term, the ENS token has seen dramatic price appreciation, rising over 72% in the past week and 55.38% in the past 30 days. As a result of this surge, interest is increasing. investors and traders, mainly Increase In ~ ENS 24-hour trading volume.

Ethereum Name Service Price Chart

The Ethereum Name Service (ENS) is a decentralized, open, and flexible naming system for the Ethereum blockchain. ENS converts human-readable Ethereum addresses into alphanumeric codes used in wallets such as Metamask. It aims to simplify and improve the accessibility of the Ethereum-based web for users.

They recently announced that they would participate in the 5th anniversary celebration event. @ETHGlobal HackFS 😍
Today is the last day to register for those who would like to attend! https://t.co/xvNpxteQp6
— ens.eth (@ensdomains) May 17, 2024

Technical analysis shows that ENS is trending upward and approaching the $26.5 level. However, this $26.5 level presents significant resistance. The daily ENS chart shows the potential for a correction, considering that ENS has surged more than 50% in the last three days.

4. DOGEVERSE

DOGEVERSE It’s going to be one of the. 2024 It is the leading meme coin presale that has already raised over $15 million. We recently surpassed our soft cap of $8.8 million and are nearing the end of our pre-sale phase. The key is whether pre-sales will be sold out before the official listing. The hard cap is set at $17 million, so some tokens may still be available despite the soft cap being reached.

Currently, Dogeverse is working to reach the hard cap before listing. Due to high demand and potential, significant price increases are likely to occur upon launch, especially if the market experiences a short-term bull market. However, this remains speculation that investors should consider before purchasing.

Dogeverse is the first multi-chain meme coin that operates simultaneously on six chains: Ethereum, Solana, Base, Polygon, Avalanche, and BNB Chain. this Pre-sale investors can choose which chain to claim their tokens on and quickly move them between chains without the need for stablecoins or other cryptocurrencies.

The goal is to create a community of Doge enthusiasts where community, rewards, and fun come together. Dogeverse also offers a staking feature, allowing users to stake their tokens immediately after purchase. Pre-sale investors have already staked 30 billion DOGEVERSE, generating an annual percentage return (APY) of 53%. Currently, stakers receive 6088.28 $DOGEVERSE for each Ethereum block solved.

additionally, doggers Tokens can be exchanged for cryptocurrencies such as ETH, USDT, BNB, MATIC, AVAX, BASE and SOL. The current price is $0.00031, but the launch price is not yet known.

Visit Dogeverse Presale

5. Constitution DAO (PEOPLE)

Today, the price of ConstitutionDAO (PEOPLE) token rose by 12.30% and its trading volume increased by 3.96%. This sudden increase comes as the token attempts to break out of a downward trend line that has limited price movement since early March. PEOPLE fell 70% during this period.

Now, with the current price rise, bulls are hopeful again. They are looking for a clear break above the downtrend line. When this happens Prices may soon increase by 100%.

ConstitutionDAO price chart

It’s important to note that this isn’t the first time PEOPLE has seen prices soar. Previous attempts to break the downtrend line have failed. Two weeks ago the token attempted to rise above this line but was unable to sustain the move.

Experts suggest that a decisive breakout and successful retest will occur when the PEOPLE token reaches around $0.036, where resistance is expected. Current price action is exciting, but it is important to be cautious and analytical. Before making any investment decisions, it is important to carefully watch key levels and determine the sustainability of breakouts.