Next Cryptocurrency to Explode, November 7 — Raydium, Starknet, EigenLayer

The altcoin market seems to be promising, and lots of altcoins are recording beneficial properties. Bitcoin (BTC) remains to be struggling to remain above its all-time excessive of $73K because it hovers round 74K. Nevertheless, the market seems to be bullish, so buyers and analysts are optimistic. Buyers want to remain alert throughout this consolidation section, because it could possibly be an opportunity to catch a journey on a rising pattern.

Costs of varied altcoins are already exhibiting constructive actions, even earlier than the market takes off completely. At this time’s article will establish the subsequent cryptocurrencies to blow up and inform buyers and merchants about every token.

Subsequent Cryptocurrency To Explode

Savvy buyers anticipate a increase within the altcoin market and taking positions in upcoming tokens just like the Crypto All-Stars. The venture goals to revolutionize the meme coin house with its groundbreaking MemeVault Ecosystem. This put up covers the small print of its presale.

1. Raydium (RAY)

On Thursday, November 7, Raydium (RAY) crossed the $5 mark after a 27% enhance in 24 hours. A number of different altcoins, together with Starknet and EigenLayer, surged because the crypto market opened. Raydium’s value gained 51% over the previous week, climbing from $3.213 to $5.05.

A number of components contributed to this rise in RAY’s worth. One main issue was Kraken Professional’s addition of RAY futures buying and selling on October 25, which elevated its buying and selling choices. The platform’s October 23 improve improved liquidity and swap speeds, boosting transaction quantity.

Raydium is now the third-highest decentralized trade (DEX) by every day buying and selling quantity. This value surge has additionally positioned Raydium amongst Solana’s high 5 DeFi protocols. In accordance with DeFiLlama, Raydium is now fifth in whole worth locked (TVL), which jumped over 30% previously month, pushing it above $1.50 billion.

Raydium’s value chart reveals a promising candlestick sample, indicating sturdy shopping for exercise with solely minor pullbacks. This aligns effectively with the general bullish sentiment merchants at present have for RAY. In contrast to many belongings that merely survive market dips, Raydium stands out with excessive buying and selling volumes and fast value shifts, highlighting its management within the fast-paced crypto house.

Moreover, rising institutional curiosity in Solana may positively affect Raydium. With extra institutional involvement, Raydium’s market share could develop, doubtlessly boosting its token worth. The technical indicators additionally stay supportive. The alignment of short- and long-term shifting averages suggests ongoing shopping for strain, and the present momentum reveals little signal of slowing down.

2. Starknet (STRK)

Starknet (STRK) has seen regular development over the previous month, rising by 4.06% to achieve $0.4095 on the time of writing. This features a weekly achieve of seven.14% and a 24-hour enhance of seven.98%, reflecting a powerful upward pattern. Moreover, the RSI and Stochastic indicators, at 44.57 and 46.16, present that Starknet is neither overbought nor oversold, signaling steady buying and selling exercise.

Starknet, a zero-knowledge rollup community, has set a brand new benchmark for transaction velocity and effectivity amongst Ethereum layer-2 networks. Per week in the past, it broke the transactions per second (TPS) document by reaching 127.5 TPS in a single day, surpassing Coinbase’s Base, which beforehand held the document at 79.92 TPS. This milestone was achieved throughout a gaming simulation that examined Starknet’s means to deal with excessive transaction volumes, highlighting its potential for scalability in high-demand eventualities.

Starknet’s UX and efficiency at the moment are among the many finest within the house.

To widen the hole, StarkWare is shifting focus to payment discount whereas retaining Cairo-Native and Stwo within the menu.

ELI5: gasoline charges on Starknet keep low, even when blobs value brrrrrr, not like different L2s. https://t.co/tA8ZGz762Y

— Brother Starknet_Uncensored (@Starkunfiltered) November 6, 2024

If STRK beneficial properties bullish momentum however encounters resistance on the 20-day EMA on the every day chart, sellers may break assist, doubtlessly pushing the value decrease. Nevertheless, if demand stays sturdy, it may rebound from this stage.

STRK’s value prediction sentiment is bullish, with a Concern & Greed Index 69 indicating a “Greed” stage. This displays elevated transactions and indicators rising optimism for an uptrend. If the broader crypto market maintains its bullish pattern, the STRK token’s common value may attain $1.19 by 2024.

3. Crypto All-Stars (STARS)

The Crypto All-Stars venture is making waves within the meme coin house with its distinctive MemeVault protocol. This platform permits holders of various meme cash to stake their tokens in a single unified system, permitting for multi-token and multi-chain staking choices. With the presale elevating over $3 million in just a few weeks, it’s clear that curiosity within the venture is powerful.

https://youtu.be/b4sHP9HKhjY?si=wuQVIu7Wz8YvtPnH

Certainly one of Crypto All-Stars’s standout facets is its enticing staking rewards, providing potential APYs of as much as 505%. This excessive yield appeals to early buyers and motivates participation within the staking ecosystem. The venture has gained consideration from high crypto influencers and continues to construct a big neighborhood, with over 16,500 followers on Twitter and a pair of,500 members on Telegram.

Crypto All-Stars brings standard meme tokens collectively underneath one platform, permitting customers to stake well-known cash like Dogecoin and Shiba Inu. By consolidating these belongings, Crypto All-Stars gives a smoother expertise for meme coin holders and goals to scale back the fragmentation at present seen within the meme coin house. The MemeVault is designed to make staking extra partaking and accessible.

The Crypto All-Stars presale is an thrilling alternative for these taken with its modern staking mannequin and community-driven strategy. With excessive staking rewards and devoted nameless management, the venture goals for long-term sustainability. Buyers can buy tokens on the presale value of $0.0015494 earlier than the value goes up in lower than two days.

Purchase STARS Tokens Now

4. EigenLayer (EIGEN)

EigenLayer (EIGEN) has lately proven a powerful restoration as buyers took benefit of momentum after final month’s airdrop. The token hit a excessive of $3.86, its finest stage since early October, following an announcement from the founder a couple of renewed deal with Web3 purposes. This shift has fueled optimism, with EIGEN’s value climbing 12.85% previously 24 hours, signaling continued curiosity in its future development.

Regardless of a current hack that misplaced over 1.6 million tokens (price round $6.8 million), the restoration has been regular. Builders have outlined plans to progressively launch 67 million tokens (4% of the preliminary provide) over the following 12 months. A portion of those tokens will probably be distributed every Tuesday, with 3% allotted to Ethereum and liquid staking token stakers and 1% designated for EIGEN stakers and operators.

In the meantime, EigenLayer lately launched new restaking choices for Bitcoin and Ethereum holders to extend incomes potential by means of wrapped Bitcoin. This characteristic permits customers to earn increased returns by staking their belongings once more on the platform.

Excited to announce that @OpenGradient is leveraging restaked ETH from @eigenlayer for cryptoeconomic safety, making certain all of Web3 can entry each highly effective and safe AI workflows.

Safe AI for all. Be taught extra👇https://t.co/5tW42S3Lri pic.twitter.com/o3IQozBCEq

— OpenGradient (@OpenGradient) November 6, 2024

On November 4th, EigenLayer additionally introduced a lift in returns for wrapped Bitcoin investments. As a part of this replace, P2P.org, a significant validator on the community, is now making funds to customers. This added choice lets BTC and ETH holders stake their belongings for a second spherical, creating extra revenue alternatives on the platform.

5. Moo Deng (moodengsol.com) (MOODENG)

Moo Deng is a Solana-based meme coin impressed by a preferred pygmy hippo from a Thai zoo that lately gained sturdy crypto consideration. Its value has jumped by 28.56% previously 24 hours, now buying and selling at $0.2393, whereas buying and selling quantity surged by 37.42% to $145.01 million. This development reveals the neighborhood’s rising curiosity on this distinctive token.

On October 25, 2024, Binance added Moo Deng to its Futures platform, introducing the MOODENGUSDT Perpetual Contract with as much as 75x leverage. Binance highlighted this launch as an enlargement of buying and selling choices to boost consumer expertise. Since this itemizing, Moo Deng’s value has risen over 215%, pushing its market cap up by 28.56% in simply at some point to just about $237 million. This rise displays its distinctive backstory and the enthusiastic response from the crypto neighborhood.

Moo Deng has precisely predicted the US election 2024. pic.twitter.com/mG2bU0mfHX

— Pop Base (@PopBase) November 6, 2024

MOODENG’s technical indicators are signaling potential development. The MACD reveals a bullish crossover, with the MACD line above the sign line and a constructive histogram indicating sturdy upward momentum. Furthermore, the RSI is 58.29, in a impartial zone, suggesting the value isn’t overbought or oversold. This stability leaves room for potential beneficial properties with out speedy danger of hitting overbought ranges.

Concerning value motion, if MOODENG breaks above the $0.466 resistance, it may climb towards $0.500 or increased. Nevertheless, if it fails to carry and drops under $0.1707 (its 50-day shifting common), it could check the assist stage at $0.09041. A drop under this assist may sign a bearish shift. Whereas the indications lean towards an upside, these resistance and assist ranges will possible form the following huge value transfer.

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