The following cryptocurrencies will explode on Monday January 22nd – Axelar, Pyth Network, Astar

adminJanuary 23, 2024

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The cryptocurrency market is gearing up for a potential bull market, which is expected to result in significant price surges for numerous tokens. This guide explores cryptocurrencies with the potential for explosive growth and highlights the tokens with the most real potential for appreciation. The goal is to empower investors to make informed decisions based on these insights.

Next Cryptocurrency to Explode

As the cryptocurrency market recovers, investors are awaiting the emergence of the next wave of cryptocurrencies that will deliver significant growth. The purpose of this article is to provide an in-depth analysis of general trends in the cryptocurrency industry and highlight outstanding performances. In this article, we will explore the impressive growth of the Pyth Network and explore important developments in Sponge V2. We will further review Astar’s performance to position these tokens as prime candidates for the market’s next explosive growth.

1. PYTH Network (PYTH)

Pyth Network (PYTH) has grown quickly to a market capitalization of approximately $578.94 million. The token has shown expansion in a short period of time. Pyth differentiates itself from other tokens by focusing on providing accurate market data directly from traders and exchanges.

PYTH price chart

The PYTH token has experienced volatility since launch, reaching an all-time high of $0.439294 and an all-time low of $0.222316. However, despite these fluctuations, prices recovered and demonstrated a dynamic market presence. Additionally, Pyth Network boasts high liquidity relative to its market capitalization.

Shape the future of Pyth Network through staking. $PYTH 🔮
Learn more about the Pyth staking program below. pic.twitter.com/P0VIcvIQco
— Pyth Network 🔮 (@PythNetwork) January 17, 2024

However, less than 15% of the total PYTH token supply is currently in circulation. Nonetheless, the Fear & Greed Index stands at 55, indicating a ‘greed’ sentiment among investors.

PYTH’s surge in value highlights the growing importance of decentralized oracles in cryptocurrencies. As Pyth Network continues to strengthen its infrastructure and expand its network, investors and enthusiasts are closely monitoring its trajectory. Expectations are high for further developments that could impact the broader cryptocurrency landscape.

2. Accella (AXL)

Axelar (AXL) is currently holding a price of $0.987479 and is up 8.90% over the last 24 hours. The coin boasts a 24-hour trading volume of $50.21 million and a market capitalization of $536.04 million. This positive momentum positions Axelar as the next explosive cryptocurrency.

AXL price chart

One of the key indicators of a bullish trend is consistently trading above the 200-day simple moving average. This signals positive market sentiment and potential for further growth. Additionally, the coin shows high liquidity based on its significant market capitalization.

Axelar is actively traded on the KuCoin platform, providing access to a broad user base. Additionally, Axelar reached an all-time high of $1.265760 on December 17, 2023 and a low of $0.313441 on October 26, 2023. However, after the all-time high, the lowest price of the coin was $0.872969 (cycle low), which was the highest price. The price stayed at $1.043800 (cycle high).

⛓️ The increase in the number of blockchains has led to a surge in cross-chain demand that extends beyond bridging/swapping to dynamic data/messaging interactions.
What role will Axelar play in this “globalized” world?@sonyasunkim Exploring the “Axelar Thesis” on Progrmd Capital🧵 https://t.co/kLLFHqBph4
— Axelar Network (@axelarnetwork) January 19, 2024

Axelar’s current circulating supply is 542.84 million AXL, with an annual supply inflation rate of 642.28%. This means that 469.71 million AXLs were created last year.

Additionally, Axelar has seen its price rise by 60% over the past year, outperforming 65% of the top 100 crypto assets. This also means that Axelar has proven its resilience and growth potential compared to other tokens on the market.

3. SPONGEV2 (SPONGEV2)

Sponge V2 has seen quite a bit of change in the past year, with its market capitalization skyrocketing from $1 million to $100 million. This development demonstrates the project’s commitment to strengthening its market presence. Therefore, it presents an opportunity to existing and potential investors.

A significant innovation in Sponge V2 is the adoption of the Stake-to-Bridge model. This system aims to simplify the transition to V2 for $SPONGE holders. Users can also stake V1 tokens, which are locked for 4 years.

This loyalty reward structure ensures a smooth transition for token holders. Sponge V2 also introduces Play-to-Earn (P2E) games, available in free and premium versions. The game allows players to earn V2 tokens to contribute to the project’s usability and interactive appeal.

Moreover, this integration adds a fun yet rewarding aspect for users. SPONGEV2 boasts a total token supply of 150 billion, highlighting its commitment to community engagement and user rewards. In particular, 8% of the token supply will be allocated to the Play-to-Earn gaming feature, increasing the overall utility of the token.

Interesting news, #Sponger! 🔥🔥
There are currently over 5,627,448,685 people. $sponge $5,445,468.33 worth of tokens staked 🤯🧽🧽
Stake your tokens now and enjoy a current APY of +280%!
Go go go 🚀#SpongeV2 #Cryptocurrency #100x #stress pic.twitter.com/PsD2Sycxjj
— $SPONGE (@spongeoneth) January 22, 2024

There are over 5,627,448,685 $SPONGE tokens staked, with a total value of $5,445,468.33 and an APY of +280%. SPONGEV2’s evolution highlights its commitment to providing a strategic and user-friendly platform. SPONGEV2 is becoming more user-friendly and strategic thanks to its Stake-to-Bridge model and Play-to-Earn games.

Visit Sponge V2 Presale.

4. Asta

Astar boasts an impressive community of 650,000 ASTR enthusiasts and has achieved a significant milestone. This highlights the token’s growing popularity within the Web3 space. Additionally, a significant 3.4 billion ASTR tokens, representing over 63% of the circulating supply, are staked within the ecosystem.

ASTR price chart

Over the past year, ASTR price has increased significantly by 238%. In addition, it hit the lowest point since the all-time high (ATH) at $0.032657 (period low). However, after the last cycle low, the highest price was reached at $0.198695 (cycle high).

The current sentiment on Astar’s price prediction is leaning towards bullish, with the Fear and Greed Index reading at a level of 55 (greed). Additionally, Astar’s impressive community growth, significant token staking, and noteworthy price performance suggest a positive outlook for the project. The optimistic sentiment surrounding the price forecast further contributes to the overall positive story surrounding Astar.

There’s a lot happening in Web3 in Japan. 🗾
From animated blockchain initiatives to on-chain quizzes, stay up to date 🎲https://t.co/rl8kYDVvoz
— Astar Network (@AstarNetwork) January 20, 2024

In cryptocurrency news, FTX sold all of its Grayscale Bitcoin Trust (GBTC) holdings, totaling 22 million shares worth nearly $1 billion. The move comes after GBTC recently converted to an exchange-traded fund (ETF) earlier this month.

According to a report by CoinDesk, GBTC experienced outflows of over $2 billion following its ETF conversion. Data obtained from private sources and corroborated by individuals familiar with the matter highlight significant changes in investment strategies.