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The overall feeling in the market has been positive since the close of Uptober. This month, Bitcoin (BTC) finally rose above its all-time high and closed in on the 100K mark. Meanwhile, many investors have already made plenty of gains from the November bull run.
Determining the next cryptocurrency to explode might be challenging as most funds are attracted to pumping assets. However, this article will explore the performance of cryptocurrencies with much growth potential, especially before the year runs out. The aim is to identify coins with some potential and help investors and traders make informed decisions about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of the presale token, Catslap. This new memecoin introduces a Play-to-Earn (P2E) feature that brings a more potent utility edge over other meme coins. In addition, rumours of a significant token burn have fueled optimism. These developments have already started to impact $ SLAP’s price positively. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Harmony (ONE)
Harmony (ONE) is gaining significant attention in the crypto market, with its price soaring 32.10% in the last 24 hours. This surge highlights growing interest in its scalable and fast blockchain solutions. Harmony’s random state sharding technology ensures efficiency, making it a key player as demand for decentralized applications (DApps) increases.
The platform’s Effective Proof-of-Stake (EPoS) consensus mechanism and Open Staking initiative further strengthen its position. These features enhance network security and attract developers and validators through its grant program, fostering innovation within the ecosystem.
Investors are impressed by Harmony’s strong fundamentals. With a liquidity ratio of 0.8712, trading remains accessible and smooth. Despite the recent price surge, the 14-day Relative Strength Index (RSI) of 67.94 indicates a neutral zone, suggesting more room for growth before hitting overbought levels. This balance has fueled optimism among market participants.
In the long term, Harmony has demonstrated exceptional resilience. Over the past year, its price has grown by an impressive 198.12%, outperforming 64% of the top 100 cryptocurrencies. Currently, the token is trading 164.80% above its 200-day simple moving average, showcasing strong momentum and bolstering investor confidence in its future potential.
2. Chainlink (LINK)
Chainlink (LINK) has recently shown impressive price movements, returning from its 2023 lows. Analysts believe the token may be in the third wave of a larger five-wave cycle, with predictions aligning with earlier forecasts from HovWaves about macro trends in Bitcoin and Chainlink. LINK’s price has risen by over 185% since key buys at $11.11 and $8.85, indicating a strong and sustained bullish trend.
In 2024, Chainlink began a new phase of growth, entering an impulsive wave. The price is now approaching a key resistance level of $27. Over recent weeks, LINK has maintained a clear upward trend, surging 36.23% to close at $25.12. Breaking through previous resistance levels, the token now targets a major resistance at $38.32, offering a potential 50.89% upside from its current price.
Institutional interest in Chainlink is growing. Less than 24 hours ago, BlockTower Capital, a leading investment firm, purchased 144,799 LINK tokens valued at approximately $3.44 million. This acquisition underscores the increasing recognition of Chainlink’s critical role in blockchain and decentralized finance (DeFi) ecosystems.
The $100K competitive audit for Chainlink Payment Abstraction has just begun on @code4rena & will run for 4 weeks.
Payment Abstraction is a core component of the billing system. It aims to reduce payment friction & simplify billing for users interacting with Chainlink services. https://t.co/jR4fsc8pwp
— Chainlink (@chainlink) December 6, 2024
Looking ahead, Chainlink’s collaboration with 21X to launch Europe’s first regulated tokenized securities market in early 2025 adds to its appeal. This partnership aims to enhance market security, transparency, and efficiency, addressing challenges in the traditional financial system.
Chainlink’s robust price action, institutional backing, and strategic partnerships highlight its strong growth potential. With a bullish market outlook and expanding utility, LINK continues to establish itself as a vital player in blockchain innovation.
3. Catslap (SLAP)
Catslap ($SLAP) is the latest cat-themed meme coin that has quickly gained attention. On Friday, 6 December, it began trading on the popular centralized exchange MEXC two weeks after debuting on decentralized platforms. Priced at $0.0071 during the announcement, $SLAP is tied to the Slap-to-Earn clicker game, a rising competitor to the viral Popcat game.
MEXC is renowned for spotting potential in meme coins, supporting early successes like Pepe, Bonk, Dogwiffhat, and Shiba Inu. MEXC ran a Kickstarter event on Thursday, December 5, to build momentum, encouraging new accounts and deposits. The trading launch followed shortly after at 1:00 PM UTC, with withdrawals available from Saturday, 7 December.
Catslap is a unique and fun addition to the meme coin market. It combines gaming incentives with robust exchange support. With its MEXC listing and growing popularity, it could become one of the standout tokens in the meme coin space.
News of the listing caused a price surge for $SLAP. With MEXC ranking as the 10th largest cryptocurrency exchange by spot market volume, its $10 billion daily trading and 5.2 million weekly visitors give Catslap significant exposure. This reach is likely to attract millions of new buyers.
In addition to its game rewards, $SLAP holders benefit from token burns triggered by the Slapometer milestones. So far, major burns have occurred at the 10 million, 25 million, and 100 million slap marks, helping reduce the token supply and enhance value. Details about the next milestone have yet to be announced.
4. Sushi (SUSHI)
SushiSwap has become a leading Automated Market Maker (AMM) platform. It rewards liquidity providers with its SUSHI token, fostering a community-driven ecosystem. The platform’s yield farming features have drawn substantial liquidity, making it a favorite among DeFi users.
Recently, SUSHI has shown promising price action. The token recorded a 22.30% rally in 24 hours, breaking from its downtrend at $1.58. It is now trading at $1.84, moving closer to a key resistance level of $2.20. If SUSHI continues its bullish momentum, it could test further resistance levels at $2.20 and $3.68, presenting potential gains of up to 100% from its current price.
Moreover, SUSHI’s RSI indicates strong bullish sentiment, though it is approaching overbought territory. While this signals market confidence, investors may need caution as the price nears critical levels.
Which memecoin community will lead the pack? Trade your way to the top and win OP rewards for you and your squad! 🎉🏆
Join the Sushi x Base Trading Competition now: https://t.co/T59dBOmKUc
Details: https://t.co/yCFjFZlKHq pic.twitter.com/zcVGL55fUL
— Sushi.com (@SushiSwap) December 6, 2024
SushiSwap is also taking bold steps to strengthen its financial stability. The platform recently unveiled its “Treasury Diversification Proposal,” led by its Head Chef, Jared Grey. This plan aims to create a more sustainable treasury by reducing reliance on SUSHI tokens.
The proposal has three main goals: minimizing volatility, increasing liquidity, and generating passive income. Currently, the Sushi DAO treasury depends heavily on its native token, leaving it vulnerable to market fluctuations. The new strategy involves liquidating some SUSHI holdings and diversifying them into a mix of more stable assets.
5. Uniswap ((UNI)
Uniswap (UNI) is showing impressive price growth today, aligning with gains seen across many altcoins. This upward momentum reflects growing optimism about a potential breakout, with many analysts predicting further gains for UNI. The increased activity within the Uniswap ecosystem also drives interest in the token.
One analyst shared a particularly bullish outlook, highlighting that UNI has bounced off key daily and weekly support levels, showcasing resilience. The analyst also praised the Uniswap ecosystem as one of the strongest in the crypto market, emphasizing its rapid expansion. With this momentum, some believe UNI could emerge as one of the top five cryptocurrencies in this market cycle.
On the technical front, UNI/USDT is attempting to break through a descending resistance line that has limited its price for some time. If successful, this breakout would confirm the bullish trend and could lead to significant price increases. Currently, UNI is trading within the $16.04 – $18.53 range, with bullish momentum driving it higher. Today’s 6.36% price rise highlights growing investor interest, putting upside targets within reach.
Fireblocks clients can now access the Uniswap Protocol natively on the platform
That means 2,000 @FireblocksHQ clients have the ability to go direct to DeFi
Huge moment for bringing more institutions onchain 🦄 pic.twitter.com/pQuWGH5o20
— Uniswap Labs 🦄 (@Uniswap) December 6, 2024
Moreover, Uniswap’s ecosystem is expanding with new integrations. Enterprise-grade digital asset platform Fireblocks recently introduced two features — Fireblocks Swaps and Fireblocks Token Allowance Manager — designed to enhance compatibility with DeFi platforms like Uniswap and Aave.
These features enable users to access liquidity from Uniswap’s API directly within the Fireblocks console, boosting the platform’s appeal to institutional and individual investors.
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