Next Cryptocurrency To Explode Wednesday, February 29 – Bitcoin, Arbitrum, Litecoin
Release: 2024/02/29 22:04 Reading: 291
The Fear/Greed index is at 86 today. That’s about the highest it’s been since the crash in 2022. The growing optimism in the market has not only pushed the value of BTC closer to its ATH but also triggered many altcoin rallies. There are signals that top-ranking cryptos like LTC, Solana, Cardano, etc, are already prime to become the next cryptos to explode. However, the crypto market is still fixated on the BTC trend, leaving the altcoins to tag along.
Nevertheless, it’s that time when manipulative moves and gross insecurity are common in the market. Besides, it’s also the time that many governments and their agencies regularly look to take down major players in the industry.
Next Cryptocurrency To Explode
Hence, the demand for the services of privacy assets like Monero is rising. Moreover, new crypto projects like Scotty the AI use artificial intelligence in market security and surveillance. Hopefully, they’ll be able to reduce the activities of harmful elements in the space dramatically. More about the projects and other top-ranking cryptos are included below.
1. Arbitrum (ARB)
Arbitrum recently posted an all-time-high value of $2.4, its highest since its launch early last year. The overall performance of assets in the Ethereum ecosystem has been remarkable, with many printing double-digit gains. ARB RSI reading today has been relatively stable, with a neutral value 57. Its moving averages on the daily and weekly timeframe also remain moderately bullish, signifying that the return of the token to an uptrend might mean it’ll break its ATH.
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Will ARB become the next cryptocurrency to explode? The ARB chart’s direction mirrors the crypto market’s overall optimism. Hence, it is one of the tokens to watch this quarter. The asset’s price is up 11% in the last 24 hours, increasing the token’s market cap by nearly 6%. Likewise, ARB has seen a trading volume surge of about 170%, indicating increased pressure on the price.
We’re excited to foster growth for the ecosystem in Korea with @DeSpreadTeam?
Stay tuned for @Arbitrum_korea's imminent official launch!?? https://t.co/Xkkdf3xH16
— Arbitrum (?,?) (@arbitrum) February 29, 2024
Arbitrum continues to push its objective as an Ethereum scaling platform through partnerships. It recently partnered with a Korean blockchain consulting firm, which aims to open the door to further its vision within the Korean ETH community. The move will likely result in more uptrend for the token as the ARB demand climbs.
2. Bitcoin (BTC)
The main driver of the current bull run, BTC, has been on a remarkable rally, with many speculating that its price would surpass its ATH in a few weeks. In the last 24 hours, the price of BTC increased by over 20%, putting its current value at $62k.The core driver of the increasing price is the rising demand for the token, particularly from the institutions that are now joining the network.
At the time of writing, the ratio of daily demand to supply is 10000 to 900. Hence, there is a disproportionate rise in the value of the asset. At the time of writing, the trading volume of BTC is up by 101%, indicating optimism in the network. More importantly, an analyst believes that this cycle might take the price of BTC as high as $150k.
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Sadly, it’s unclear how long it would take to cross that mark if the claims are eventually valid. Elsavador and many high-profile crypto investors maintain their hold on the asset without the intention to sell. Reports show that 80% of crypto in investors’ wallets has not moved since the coin started a recovery trend.
3. Litecoin (LTC)
While Litecoin might not be the token to 100x investors’ funds, it shows a potential to maintain an uptrend through the bull market and the periods after. Generally, bitcoin halving and the arrival of institutional investors in the market are the main drivers of the current bull market. The trend also drives up the value of Altcoins, of which LTC is one of the top players.
Nevertheless, one fact to remember with LTC is that it completed its halving in the second quarter of last year, with its price rising to the peak in the weeks leading to its halving. It’s about 1250 days to LTC halving, and the token supply is a fraction of what it was before the previous halving.
One of the revolutionary aspects of Litecoin is its deflationary model. This means that the amount of Litecoin mined decreases over time, by 'halving' every 4 years and thus become scarcer over time. #Litecoin ⚡
The next Litecoin halving will be in 1250 days. pic.twitter.com/JUu5tuGF3d
— Litecoin (@litecoin) February 26, 2024
Theoretically, the current bull market raising the asset’s price positions it to continue its uptrend into the first half of the coming year. Consequently, it’s likely to continue its uptrend till it’s halving in 2027. Investors looking at a long-term strategy can bet on the LTC trend, which often mirrors the BTC market movement. Moreover, the coin has seen more extensive adoption than many crypto tokens.
4. Pepe (PEPE)
It’s not yet Memecoin season, but PEPE is already on an aggressive move. For degen investors, it might be the next cryptocurrency to explode. The asset’s price increased by nearly 80% yesterday and over 40% in the last 24 hours.
Consequently, its net gains over the previous seven days amount to over 149%. The probability for higher gains is inevitable as the current price nears its ATH. Investors still have a chance to buy in as the bull market continues its upward trend.
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In the meantime, investors should be wary of the PEP rally, which might experience a momentary pullback. The RSI reading of the asset is relatively high, with a value of 91 at the time of writing. Degening into Pepe should be done with as much caution as possible, considering the recent dump from the team.
Also, PEPE is notorious for its high volatility and protracted price decline. Therefore, the best approach to getting in on PEPE is to do so with a view to short-term ROI. In the meantime, Investors can ride the PEPE wave as it is currently on an explosive trend.
5. Scotty the AI (SCOTTY)
The increasing optimism in the crypto market calls for drastic efforts towards safeguarding investors’ interests, especially for fraudulent projects. That’s why the team behind Scotty AI is working on a revolutionary idea to combat the rising malpractice cases.
The project combines the meme culture with the utility of artificial intelligence. Hence, its mascot, Scotty the AI, is projected as the crypto universe’s guardian. Through the power of blockchain artificial intelligence technology, Scotty would have the capability to scout and detect dubious projects before they cause mayhem in the crypto market.
?Presale Update!?
ScottyTheAi has raised $1,000,000 ?
Reaching another mile stone in early stages of presale.Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale ?
Buy Now:… pic.twitter.com/9Die3RDJAe
— Scotty The Ai (@ScottyThe_Ai) February 29, 2024
The presale offering of the project’s native cryptocurrency, SCOTTY, is live, and investors have a few days to leverage the discounted price. At the time of writing, the cost is $0.00605, and the team has raised over $1 million. Investors can still join the growing community before the price increase. More details of the project are available on its presale page.
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