The next cryptocurrencies to explode on Tuesday January 23rd – Chiliz, Stacks, FTX Token

adminJanuary 24, 2024

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In today’s cryptocurrency market, various digital assets have experienced varying performance, with major cryptocurrencies facing selling pressure from investors. However, a shift in investor interest towards altcoins has been observed, contributing to a positive outlook for the overall cryptocurrency sector. In this article, we look at various coins that are experiencing an upward trend in the market.

Next Cryptocurrency to Explode

Today’s spotlight focuses on tokens that are creating buzz in the cryptocurrency world, including Chiliz, Stacks, and FTX Token. This analysis will cover what makes the market a potential candidate for the next explosive growth. Moreover, Meme Kombat is making waves in the pre-sale phase and is being watched closely by investors, generating over $7 million in revenue.

1. Chiliz (CHZ)

Chiliz (CHZ) has caught the attention of investors due to its upcoming tokenomics changes. CEO Alexandre Dreyfus hinted at an improved model that includes a burn system, staking reward subsidies, and external consulting.

Additionally, Chiliz has integrated Rarible’s innovative protocol into the Chiliz Chain. This integration opens a new era for NFT marketplaces and digital collectibles. Developers can now build custom NFT marketplaces on the Chiliz chain using the Rarible protocol.

CHZ price chart

This development also allows SportFi decentralized applications (dApps), wallets and marketplaces to access real-time NFT ownership and provenance data. Therefore, it improves the overall user experience in the NFT domain. Additionally, the CHZ token experienced an intraday gain of 8.49%, forming a bullish candle on the daily chart.

Layer 1 sports blockchain Chiliz Chain surpasses 10 million first transactions. 🎉
See all deals 👉 https://t.co/S8N2ZvTkbT#ChilizChain ⚡️ $CHZ pic.twitter.com/lKWwoIG9IA
— Chiliz ($CHZ) – Home of SportFi ⚽🏆 (@Chiliz) January 17, 2024

Additionally, if Chiliz can continue this upward trend, it will be able to lay the foundation for further growth. Chiliz Chain also announced its latest performance on X. The token reached the milestone of surpassing its first 10 million transactions.

The current price of CHZ is $0.09858, with a 24-hour trading volume of $412.79 million. Moreover, Chiliz is currently trading above the 200-day simple moving average, indicating a positive trend. This coin boasts high liquidity relative to its market capitalization.

2. Stack (STX)

STX (STX) has performed impressively in the cryptocurrency market. This token has seen an impressive increase of 352% over the past year at a price of $1.28. Stacks ranks 43rd on CoinMarketCap with a market capitalization of $1.84 billion. This growth trajectory raises questions about whether Stax can secure its position as the next cryptocurrency to explode.

STX price chart

Needless to say, STX achieved an increase of 98.64% in December last year, establishing continuous upward momentum until 2024. Additionally, out of Stacks’ maximum supply of 1.82 billion, the circulating supply is 1.44 billion. Last year, the supply inflation rate was 6.77%, and about 91.04 million STX were produced.

Convert your stack to the Bitcoin Layer-2 type you need ✌
– @TheSpartanGroup Stacks Post Nakamoto & sBTC Launch
Read the full article below. pic.twitter.com/8W599b5ctI
— stacks.btc (@Stacks) January 21, 2024

Moreover, STX has outperformed Bitcoin and Ethereum, outperforming 93% of the top 100 crypto assets over the past year. Additionally, Stacks ranks 12th in Ethereum (ERC20) tokens and 24th in Layer 1. Additionally, the token trades above its 200-day simple moving average and maintains high liquidity based on market capitalization.

In conclusion, STX presents a compelling case with continued growth and promising market positioning. Investors can find performances and developments in the market that are worth considering.

3. FTX Token (FTT)

In a recent cryptocurrency market analysis, the FTX token (FTT) showed significant performance among major cryptocurrencies facing selling pressure. However, market dynamics indicate a noticeable shift in investor focus towards altcoins, contributing to the optimistic outlook for the overall cryptocurrency sector.

The FTX token saw significant gains, increasing its value by 5.40% to $2.66. Moreover, trading volume soared 253.69%, reaching $80 million.

Last year, the FTX token outperformed 61% of the top 100 cryptocurrency assets. The all-time high was $84.09 on September 9, 2021. Conversely, the lowest point was reached on September 7, 2019 at $0.633373. Following the all-time high, the lowest price reached $0.778732, marking a cycle low. The subsequent cycle high was $5.94.

FTT price chart

Additionally, the FTX token is trading above its 200-day simple moving average, indicating a positive trend. However, it is important to note that in the past 30 days, the token has experienced only 12 days of green trading, showing some inconsistency in the market.

Out of the maximum supply of 352.17 million FTT, a total of 328.9 million FTT are in circulation. Within the exchange token segment, FTX token currently ranks 6th.

In summary, the recent performance of the FTX token suggests its resilience to market fluctuations. While the token has shown stability, investors should consider the intermittent green days of the past month as a factor to monitor. Overall, the high liquidity of the FTX token positions it as an interesting token.

4. Meme Combat (MK)

Meme Kombat aims to combine memes with the competitive thrill of the fighting arena, leveraging Ethereum’s decentralized network. Tokens are critical to creating an interactive ecosystem for players, stakeholders, and enthusiasts.

Meme Kombat also successfully raised $7,349,821.19 of its $8,000,000.00 goal. Within the Meme Kombat sector, MK’s diverse utility stands out as a cryptocurrency investment opportunity. Over 10,000 individuals have become stakers and are currently contributing staked MK tokens.

Meme Kombat currently has over 10,000 stakers. $MK 😋
A huge milestone! pic.twitter.com/lOdjIQs0m8
— Meme Kombat (@Meme_Kombat) January 23, 2024

Designed primarily for gaming enthusiasts, Meme Kombat integrates staking and betting features to enhance the utility of the token. These strategic moves are great for the gaming community and give users the opportunity to earn rewards. Additionally, 50% of MK tokens can be purchased for $0.279 each, capped at $10 million.

Meme Kombat also plans to list its tokens on a decentralized exchange, allocating 10% of its total tokens for liquidity. This is also outlined in the whitepaper and highlights the project’s commitment to facilitating decentralized and seamless trading of $MK tokens.

In essence, Meme Kombat positions itself as a unique blockchain project that capitalizes on the popularity of memes and the fun of gaming. Successful pre-sale and strategic integration of staking and betting capabilities suggest growth potential. The commitment to decentralized trading through token listing on a decentralized exchange adds credibility to Meme Kombat’s utility-centric approach.

Investors may find Meme Kombat interesting because of its innovative fusion of memes and games. However, as with all investments, it is important to conduct thorough research and assess potential risks before making a decision.

Visit Meme Kombat Presale.

In other cryptocurrency news, Bitcoin has suffered significant declines, falling by more than a fifth from its peak earlier this month. The current decline of $38,900 follows a stunning three-year high of around $49,000 reached on January 11. Investors who entered the market with high expectations of ETF approval quickly sold their holdings after confirmation. This selling pressure led to a 20.6% decline in the value of Bitcoin, showing that market sentiment has an immediate impact on cryptocurrency prices.