The following cryptocurrencies will explode on Thursday February 22nd – BNB, Avalanche, Worldcoin

adminFebruary 23, 2024

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Bitcoin price currently has a huge impact on the market as the princess of the asset is subject to a volatile trend. The BTC price neared $52,000 today, sparking a brief rebound in the asset’s price, with some prints reaching double-digit gains.

After recording impressive price gains, BNB, Avalanche, and Worldcoin are at the top of the bullish list. Details of the price action are provided below along with relevant data to provide context.

Next Cryptocurrency to Explode

However, increased inflows into Bitcoin spot ETFs have put pressure on the price of the cryptocurrency asset. Many assume that this situation may have caused a long-term sideways trend in BTC. Growing demand is outpacing supply in the market, creating opportunities for decentralized mining projects like Bitcoin Minetrix. Today’s update covers the current pre-sale offering of BTCMTX tokens and everything investors need to know about the project.

1. AVAX

AVAX’s value recently increased by 150%, making the token the 9th largest cryptocurrency by market capitalization. As of this writing, AVAX has a market capitalization of $13.95 billion and a circulating supply of 377.15 million coins. Despite last quarter’s huge gains, AVAX saw a significant decline early this quarter, with its price falling nearly 22%.

Historically, AVAX is known to undergo cycles of ups and downs prior to token launch. The worst decline occurred in August last year, when token launches valued at over $100 million led to a prolonged decline in the asset. However, this time the overall cryptocurrency market outlook is different.

Avax price chart

Last quarter’s token launch increased the asset from $22 to $48. Currently, AVAX maintains its position in the $37-$38 range despite launching over 9.5 million tokens, which is expected to increase its circulating supply by 2.9%.

Additionally, the RSI value on the daily time frame is 48, which indicates that the token is heading towards the overbought territory. The RSI readings remain neutral for the week and month, while the moving averages are mostly bullish. These signals are similar to what occurred in previous token releases.

What has been driving Avalanche’s growth over the past few months?
Strong liquidity, new game competition, accelerated subnet adoption, and a solid foundation for RWA have all contributed to a healthy and booming ecosystem 💪
Take a look at our avalanche status report… pic.twitter.com/wM2SAfH9bE
— Avalanche 🔺 (@avax) February 21, 2024

Meanwhile, an update posted on the official Twitter handle shows that the platform is ready for growth. It boasts impressive liquidity and claims to have growing use cases. It also claims there has been an increase in activity across the chain. All indicate the possibility of an upward trend.

2. BNB

BNB has maintained an upward trend for almost 60 days, defying the current downtrend in the cryptocurrency market as a whole. It recorded another price increase today, reaching a high of 7% in the last 24 hours. At the current pace, BNB price could rise to $400 before the end of this week.

Will BNB be the next explosive cryptocurrency? According to several indicators, BNB is one of the cryptocurrencies to watch right now. The price has surpassed half of the ATH value. This means that the trend is consistent with the overall performance of the cryptocurrency market.

BNB price chart

Although the previous year’s difficulties due to legal disputes are still reflected in the price, technical data shows that BNB is trending further upward. The RSI value on the monthly chart remains neutral, indicating a long-term outlook for the token. Additionally, moving averages remain strong in the short and long term.

BNB Chain and Web3 Blueprint are now live! 🚀 https://t.co/0tNwO7J3qs pic.twitter.com/14OMXY5y9l
— BNB Chain (@BNBCHAIN) February 21, 2024

Additionally, the company’s continuous drive for innovation gives the company an advantage and contributes to continuous value increase. Conversely, the daily timeframe shows that BNB investors can expect a quick reversal as bearish signals take effect. Many BNB oscillators are sending bearish signals and the RSI readings for the period appear overbought, indicating a potential bearish move.

Nonetheless, BNB has an imminent supply cluster in the $360 – $370 price range. Therefore, if a reversal occurs, a bounce in this range is likely if market optimism remains high.

3. World Coin (WLD)

Following a controversial push to maintain records of people’s identities, the Worldcoin token WLD has faced a sharp decline as many countries oppose its business model. However, the token is making impressive progress, increasing its value by almost 400% since launch. Its market capitalization recently exceeded $1 billion, ranking it 67th in the cryptocurrency rankings.

There is speculation that the Sam Altman-backed cryptocurrency could be the next explosive cryptocurrency. It has recorded an increase of over 25% and a 45% increase in volume in the last 24 hours. The rise in token value can be traced to the growing investor interest in the AI sector and DePin.

World Coin Price Chart

However, there are concerns about the prospects of the WLD token as only 132,801,934 of the total supply of 10 billion are currently in circulation. Unfortunately, a single wallet contains a supply of 75 million. A circulating supply of less than 2% indicates a higher price fluctuation potential than the token itself. In the meantime, investors can watch for more WLD bullish trends as the market continues to move higher.

4. Bitcoin Minetrix (BTCMTX)

As demand for Bitcoin continues to outstrip supply, the need for an optimal mining plan becomes urgent. Bitcoin Minetrix offers a new initiative to help solve supply issues using a decentralized, cloud-based mining system.

The project is seeing growing investor interest, with more than $11.2 million raised to date. As Bitcoin halving approaches and BTC Sport ETF inflows increase, demand for BTC will increase dramatically. As a result, the pressure on me will become harsh.

Investigate cost entry points #Bitcoin Metrics Comparison with traditional cloud mining: 🔍
💰 #BTCMTX: Economical – (no minimum purchase obligation)
💸 Traditional Cloud Mining: Expensive – (requires significant minimum payment) pic.twitter.com/EqBGNevcoA
— Bitcoin Minetrix (@bitcoinminetrix) February 22, 2024

The BTCMTX token allows holders to mine BTC for as low as $10. This is a new achievement for the industry. It also eliminates the risks common in cloud mining projects. Investors have a short window of about 48 hours to join the train at the discounted price of $0.0136. Pre-sale prices increase over time.

Visit Bitcoin Minitrix Presale

5. Filecoin (FIL)

FIL is up 4% today, bringing its overall gain over the past 7 days to 30%. The recent rise in token value validates the claim that the DePIN asset is the jewel of altcoins in this bull market. FIL rose from $5 to a high of $7.7 during this bull market.

Moreover, there are speculations that the price could rise to $11 this quarter as technical indicators show bullish signals.

Filecoin price chart

Filecoin maintains a bullish outlook each day as its price remains below its long-term moving average. Additionally, the oscillator indicates a bullish trend. However, there may be a short-term decline due to overbought signals coming from the RSI reading.

Conversely, the monthly charts differ slightly from the signals seen on the daily charts. While the stable RSI signals readiness at 45, the longer-term moving average indicates a bearish signal. Therefore, FIL could come under extreme pressure from the bears as it approaches the $13 level.

Filecoin News 83 has arrived! 📬
Check out the highlights:
✨Collaboration with Filecoin @Solana To store block history
💰5 Filecoin bounties @ethereumdenver‘S #BUIDLWEEK
🏔️The schedule is #FILDevSummitv3 in Denver is currently streaming.
Read it for yourself: https://t.co/RJVpqPD3BI
— Filecoin (@Filecoin) February 21, 2024

Nonetheless, investors can expect improved performance from FIL as the token establishes itself as a decentralized storage facility for cryptocurrency projects. We recently partnered with Solana and are looking to build more partnerships.