Next cryptocurrency explosion Tuesday, December 19 – Sponge V2, Sei, VeChain

adminDecember 20, 2023

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News begins in the NFT sector today as OKX’s Non-Fungible Token (NFT) platform hits a major milestone with record 24-hour trading volume, ahead of industry giants such as OpenSea, Blur, and Magic Eden. According to DappRadar on Monday, the OKX NFT marketplace has surpassed its competitors by reaching an astonishing $50 million in daily trading volume.

The surge in trading volume on the OKX NFT marketplace can be directly linked to the introduction of Bitcoin ordinal trading. According to CryptoSlam data, the Bitcoin network has surpassed both Ethereum and Solana in NFT sales over the past seven days, reaching an impressive $404 million. In comparison, Solana recorded sales of over $95 million, and Ethereum, once the leader in NFT trading volume, recorded sales of $90 million.

VeChain VET

Meanwhile, the global cryptocurrency market capitalization currently stands at $1.61 trillion. It rose 3.89% from the previous day.

In the last 24 hours, the overall cryptocurrency market size surged to $64.78 billion, representing a notable increase of 27.26%. The decentralized finance sector contributes $7.39 billion, accounting for 11.41% of the total cryptocurrency market 24-hour trading volume. In particular, the total stablecoin trading volume reached $57.85 billion, accounting for 89.31% of the entire cryptocurrency market’s 24-hour trading volume.

Next Cryptocurrency to Explode

Bitcoin’s dominance in the market currently stands at 52.09%, an increase of 0.34% in the last 24 hours. The outstanding performance of the OKX NFT Marketplace highlights the evolving landscape of NFT trading and highlights the growing importance of Bitcoin in this rapidly growing market segment.

1. SPONGEV2 (SPONGEV2)

The cryptocurrency market is seeing a big move back towards the Sponge network as investors jump on the latest sensation in the memecoin space. Sponge V2 (SPONGEV2) is a new version of the iconic Sponge (SPONGE) memecoin. The Sponge V2 project is making waves by introducing custom Play-to-Earn (P2E) games, introducing a new level of utility for the token, and seeking to position itself as the next explosive cryptocurrency.

The innovative aspect of Sponge V2 lies in its gaming integration where users can actively earn SPONGEV2 tokens by participating in upcoming games and securing positions on the leaderboard.

The gaming framework offers both free and paid versions, allowing users to engage in casual gameplay or utilize SPONGEV2 tokens to earn in-game credits to earn additional revenue within the gaming experience.

Cryptocurrency Heatmap

Unlike traditional presales, there are two ways to purchase Sponge V2: Interested participants can purchase and stake Sponge V1 through the purchase widget on the Sponge.vip website or stake Sponge V1 through the Sponge.vip website. The accumulation of V2 tokens is related to the quantity of V1 tokens staked and the staking period. As the remaining supply of Sponge V1 dwindles, Sponge V2 will enter a billable state.

Every V1 token delivered to the V2 staking pool reserves an equal amount of V2 tokens and generates V2 tokens based on a variable annual yield (APY). The more V1 tokens you stake, the higher the return on your V2 tokens, emphasizing the proportional incentive system.

An important aspect to consider is that staked V1 tokens will be permanently locked, highlighting the transition away from V1 token support following the launch of Sponge V2.

But Sponge V2 sets itself apart in that it doesn’t rely solely on market speculation. Integrating Play-to-Earn (P2E) functionality adds significant utility to the ecosystem and provides participants with active ways to engage with tokens beyond transactions.

Visit Sponge V2.

2. SIX

Sei (SEI), the native token that powers the Sei blockchain network, has seen a rapid rise in value, surging 51.00% in the past week alone. It has recorded an impressive increase of 52.29% in the last 24 hours, and an impressive 6.95% a few hours ago. The current trading price is $0.37 per SEI, a slight difference of 4.01% from the all-time high of $0.39.

The SEI token serves as the backbone of the Sei blockchain, strategically designed to empower developers by providing the infrastructure they need to build efficient and secure decentralized exchanges (DEXs). In addition to facilitating network gas fees, SEI tokens have a variety of utilities, including staking capabilities for participation in governance mechanisms and network security.

SEI price chart

Sei (SEI) is a specialized layer 1 blockchain carefully tailored to optimize the trading space. Differentiate yourself by prioritizing attributes that are important to exchange, such as speed, scalability, and reliability. The blockchain aims to handle high order throughput per second and boasts an impressive transaction finality of 380 milliseconds. Its design emphasizes the attractiveness of the institution, with a strong commitment to strengthening security measures.

Welcome to Kryptonite House 🚢
Liquid staking will launch on Sei soon. https://t.co/RVdLyOaukr
— Sei 🔴💨 (@SeiNetwork) December 18, 2023

Operating on a completely open source framework, Sei extends its multi-layered approach to native front-learning protection, seamless interoperability, and transaction bundling. This infrastructure is purpose-built to evolve with the advancement of the industry using a modular architecture that allows the Sei technology stack to easily integrate innovations under the direction of community governance.

The notable surge in the value of the Sei (SEI) token highlights growing confidence in the platform’s ability to revolutionize decentralized exchanges. Utilizing optimized infrastructure, it provides a competitive advantage in the cryptocurrency trading environment and is becoming an explosive next-generation cryptocurrency.

3. VeChain (VET)

VeChain (VET) is also showing impressive growth and establishing itself as a next-generation cryptocurrency. It has grown by more than 76% since early January 2023. Despite a slight 4.7% correction on the daily chart, VET continues its solid upward trend, boasting a 6% increase over the past week. On the monthly and yearly charts, VeChain is up over 34% and 66% respectively.

VET price chart

The ongoing rally in VeChain (VET) appears to have room for further upside, according to insights shared by renowned cryptocurrency analyst Ali Charts. The analyst suggests that VET could be on the verge of breaking the critical resistance level of $0.033 within the next two weeks, similar to the consolidation phase observed between 2018 and 2020. If such a breakthrough occurs, VeChain could potentially rise to $0.077 by the end of January 2024, representing an impressive growth of around 185% from current levels.

However, other analysts offer a slightly contrasting view. They predict that the VET price is likely to fall to $0.026 by December 26, 2023, which would represent a decline of around 3.7% from current levels. Despite this expected short-term decline, VeChain is expected to regain momentum heading into early January 2024.

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A wise man once said: “Architecture is just… pic.twitter.com/r03fuQoMKE
– VeChain (@vechainofficial) December 18, 2023

VeChain’s diverse perspectives on short-term price movements reflect the dynamic nature of the cryptocurrency market, providing investors and enthusiasts with a variety of predictions. The forecast, which contrasts with VeChain’s recent trajectory, signals an exciting period of heightened anticipation and interest within the cryptocurrency community as VET potentially prepares for further price action in the coming weeks.

4. Fetch.ai (FET)

Artificial intelligence (AI) has been a catalyst for innovative advancements across a variety of industries, but its integration into the cryptocurrency space has noticeably changed trading strategies. Fetch.AI (FET) is a pioneering force in the use of AI in cryptocurrency and is leading a revolution in the field.

Fetch.ai (FET) is also a strong contender, attracting significant attention from traders amid widespread bearish sentiment related to the pending Federal Reserve (Fed) decision.

FET price chart

Fetch.ai (FET) has led the notable rally in the sector, with an impressive 28.40% gain in the past week alone. In the most recent 24 hours, Fetch.ai (FET) recorded a significant gain of 12.29%. As of the latest data, Fetch.ai (FET) is trading at $0.6577, indicating a notable upward trend amid market volatility.

The growing investment and interest in AI-based tokens, particularly Fetch.ai (FET), highlights the growing trust and awareness of the potential offered by AI-based trading strategies. Fetch.ai’s advancements in this space have been notable for its innovative approach to navigating market dynamics during uncertain times.

Exciting news! 🚀
Meerut Institute of Technology (@Miroot Meat) Student developers organized and in-depth analysis of the https://t.co/tRoX5nbHmH platform 🤖
We applaud these bright minds who embrace the future of self-driving cars. #AI, and we can’t wait to see what they build! 🧠 pic.twitter.com/zJLtpCfX0C
— Fetch.ai (@Fetch_ai) December 18, 2023

Fetch.ai’s integration of AI technology into the cryptocurrency trading environment highlights the evolving nature of market strategies. All of this represents a paradigm shift towards utilizing sophisticated technological solutions to navigate market volatility and potentially give traders an edge in their investment approach.