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The crypto market is experiencing a surge as the total market capitalization reaches an impressive $1.12 trillion, marking a substantial 1.25% increase over the past 24 hours.
Furthermore, the market’s total trading volume in the last 24 hours has surged to $46.2 billion, representing a significant 5.57% daily increase. Decentralized finance continues to demonstrate its influence, with a total trading volume of $2.4 billion, constituting 5.20% of the entire 24-hour cryptocurrency market volume.
A considerable portion of the 24-hour trading volume is attributed to stablecoins. It traded deals worth $43.19 billion, which accounts for an impressive 93.47% of the total cryptocurrency market trading volume.
Bitcoin maintains its dominance with a market share of 51.59%, marking a noteworthy increase of 0.09% over the day.
The week ended on Wall Street with a downward trajectory, influenced by a combination of mixed corporate earnings reports, apprehensions regarding potential interest rate hikes by the Federal Reserve, and mounting concerns about the Middle East conflict.
On Thursday, the yield on 10-year US Treasury notes briefly crossed the significant 5% threshold, marking the first time it had achieved such heights since July 2007, touching 5.001%. Although the benchmark yield retraced from this peak, it recorded its most substantial weekly increase since April 2022, driven by robust economic indicators.
Next Cryptocurrency to Explode
This week’s market performance was characterized by a tug-of-war between economic optimism and the mounting uncertainties stemming from the international arena. Mixed corporate earnings results and the specter of further Federal Reserve interest rate adjustments left investors cautious. Meanwhile, the situation in the Middle East contributed to overall market unease.
1. Mantle (MNT)
Today, Mantle (MNT) stands at a price of $0.3793, reflecting a 12.47% surge in the past 24 hours and an impressive 15.20% increase over the last seven days. With a circulating supply of 3.1 billion MNT tokens, Mantle’s market capitalization is now valued at $1.17 billion. The latest development places MNT directly in line as the next cryptocurrency to explode.
The coin’s all-time high was reached at $0.6001 on July 20, 2023, three months ago. Presently, the current price is approximately 36.83% lower than this historical peak. Conversely, its all-time low was recorded at $0.3080 on October 18, 2023, just three days ago. In comparison, the current price reflects a 23.08% increase from the all-time low.
Regarding the fully diluted valuation (FDV) of Mantle (MNT), it stands at $2.35 billion. This figure represents a statistical projection of the maximum market capitalization, assuming that the maximum number of 6.2 billion MNT tokens are in circulation. However, the realization of FDV may take several years, contingent on the emission schedule of MNT tokens.
🔊 More than 34,000 users now own their very own Citizen. This weekend, make sure you dash through the maze and collect all the basic characters you have an eye on via @mintleapp
Mint. Share. Explore. #OnMantle pic.twitter.com/XMibbUp4LF
— Mantle (@0xMantle) October 20, 2023
Mantle’s price performance in the last week has been notably strong, with a 15.20% increase. This surpasses the broader global cryptocurrency market, which has seen a 6.90% uptick, as well as Ethereum Ecosystem cryptocurrencies, where the increase stands at 12.70%.
Regarding the sentiment in the Mantle (MNT) community today, it is predominantly bullish, with over 69% of users expressing confidence in the coin’s current performance. This collective optimism reflects the positive trajectory and potential of Mantle in the crypto landscape.
2. MultiversX (EGLD)
The native token of the MultiversX blockchain, EGLD, experienced a notable uptick of nearly 10% in value after the network announced a partnership with Google’s cloud division, a subsidiary of the tech giant.
EGLD witnessed a surge from just under $24 to slightly over $26 during the early hours of Friday through Saturday in the European market. However, it later retraced to $25.30 at the time of this report. It made a 6.03% gain in the last 24 hours.
MultiversX unveiled this strategic collaboration at its xDay Conference in Bucharest, Romania. The partnership with Google Cloud will leverage the tech giant’s expertise in artificial intelligence (AI) and data analytics tools.
xDay by MultiversX #Day 3 – Builders of the sustainable future https://t.co/GcTYSTRBGP
— MultiversX (@MultiversX) October 21, 2023
This partnership is set to streamline the development of large-scale blockchain projects for MultiversX by providing developers with convenient access to critical data such as addresses, transaction amounts, and smart contract interactions, among other valuable insights.
The partnership offers more utility for the EGLD token, and it will usher into a new phase entirely. Launching another competitive strategy, the token is the next cryptocurrency to explode.
3. Launchpad XYZ (LPX)
Launchpad XYZ initiated its LPX token presale with a generous 20% bonus in its early stages. Over time, this bonus structure has been gradually decreasing, reducing by 1% every seven days. As of now, the bonus stands at 12%, with four more days remaining in this phase.
The cornerstone of Launchpad XYZ’s offering is its functionality. Beyond the LPX token presale, the platform has ambitious plans, including the launch of a decentralized exchange for token swaps and NFT trading. Furthermore, it will extend accessibility to high-value assets like real estate and luxury cars through fractional ownership.
To access these features, users will be required to lock their LPX tokens for a minimum of 90 days.
The Launchpad XYZ crypto startup is innovatively incorporating artificial intelligence into its platform to assist investors. Their AI tool, known as the Launchpad Quotient, scrutinizes data from more than 400 data points, providing valuable risk-reward insights for crypto investors. Additionally, a user-friendly AI-driven search box on the platform’s dashboard will offer cryptocurrency suggestions based on user queries.
The dedicated team behind this crypto startup is led by CEO Terence Ribaudo, who boasts over a decade of experience in the Web 3.0 industry.
Learning and knowledge are the keys to success 📚🎓
Master the #Crypto essentials with #LaunchpadXYZ and stay one step ahead! ⚡️#CryptoEducation #Web3 #Alts pic.twitter.com/C4ezLQLMxv
— Launchpad.xyz (@launchpadlpx) October 20, 2023
Transparency is a core value of the project, with all core team members’ LinkedIn profiles publicly accessible. Looking ahead, Launchpad XYZ has a well-defined roadmap that includes the launch of a Web 3.0 wallet in 2023, alongside offerings like a token directory and an educational hub by year-end.
As newcomers such as Launchpad XYZ enter the increasingly competitive crypto startup landscape, their emphasis on functionality, transparency, and AI-driven tools provides a glimpse into emerging trends in Web 3.0 investment platforms. While the LPX token presale continues to attract attention and investment, it sets a precedent for how utility and AI can intersect in this dynamic industry.
Visit Launchpad XYZ.
4. Bitcoin SV (BSV)
BSV experienced a remarkable surge of over 30% after it was listed as a perpetual future with 50 times leverage on the Binance crypto exchange. This development immediately caught the attention of traders.
As of the time of this writing, BSV has recorded a substantial 28.09% increase in the last 24 hours, bringing its price to $54.99. This surge has propelled Bitcoin SV to a prominent position among the top-performing assets in the cryptocurrency market. In fact, it currently stands as the top daily gainer among the top 100 cryptocurrencies based on market capitalization. Indeed, it is the next cryptocurrency to explode.
Bitcoin SV embarked on a bullish journey early in the week, with the ascent commencing on October 15. The momentum continued and experienced a significant spike on October 16, reaching highs of $41.50. While profit-taking briefly interrupted this climb, bullish sentiment persisted.
On October 18, Bitcoin SV initiated another rally, and it appears to be heading towards its third consecutive day of gains. The most recent leap, which occurred today, marked the most substantial increase, as BSV displayed a significant green candlestick that led to heights of $57.71 during the trading session.
In the outgoing week, BSV witnessed an impressive 65.56% gain. According to Santiment, an on-chain analytics firm, as Bitcoin’s dominance grows, BSV has stood out as one of the most remarkable assets in the past 24 hours.
Binance Futures has announced that the listing of the BSV perpetual contract is scheduled for October 20, offering up to 50x leverage. This listing remains a significant catalyst for the ongoing Bitcoin SV rally.
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