Blockchain

Next Cryptocurrency to Explode Wednesday 4 October – yPredict, XRP, Gala

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The crypto market capitalization dipped further in the last 24 hours. In a further decline from our previous report, the market lost 0.78% to $1.08 trillion. However, cryptocurrencies are doing well and carrying the weight of the market. They belong to the category of the following cryptocurrencies to explode.

In the last 24 hours, too, the trading volume for cryptocurrencies also slipped to $36.78 billion. It represents a 15.50% decrease. The decentralized finance sector had a trading volume of $2.55 billion, accounting for 6.94%. Stablecoins, on the other hand, had a trading volume of $34.51 billion, constituting a substantial 93.82% of the total 24-hour crypto market volume.

Bitcoin’s dominance in the cryptocurrency market rose to reach 49.48%, reflecting a 0.13% increase over the day.

On the stock market front, the early hours of trade on Wednesday have seen Asian stocks tumble to their lowest in 11 months. The persistent bond market crisis also sent US yields to their highest levels in 16 years. This yield surge raises concern about the valuation of equities and dampens investor appetite for risk assets across the board.

The Treasury yield increase also pushed the US Dollar to new heights. The Japanese Yen showed some resilience as there are speculations that authorities might be discreetly intervening in the money markets.

Next Cryptocurrency to Explode

The Yen breached the 150/dollar threshold in London early on Tuesday before quickly retreating to 147.3. Tokyo has not confirmed this abrupt movement yet. Japan’s finance ministry has refrained from making direct comments on the shift. As of the latest data, the Yen was trading at 149.181 per Dollar.

Furthermore, unexpectedly robust US job openings data contributed to an almost 12 bps increase in the 10-year yield on Tuesday. In the Asian trading session, it climbed an additional three bps, reaching 4.838%, marking its highest level since 2007.

1. XRP (XRP)

Ripple recently released 1 billion XRP tokens from its escrow accounts. The monthly event, which takes place on the first day of each month, saw the release of 1 billion XRP tokens distributed across three transactions. The first transaction involved the unlocking of a substantial 400 million XRP tokens, valued at $205.92 million, from Ripple’s escrow. This was followed by the release of an additional 100 million XRP, worth $51.48 million, in the second transaction. Finally, the third transaction saw the unlocking of 500 million XRP tokens worth $257.40 million from the Ripple escrow.

Ripple introduced its escrow system in December 2017 with the aim of bringing stability to the XRP market. Under this system, Ripple set aside a total of 55 billion XRP in a series of escrows, each containing 1 billion XRP tokens, to be gradually released on a monthly basis over 55 months. According to this schedule, the final tranche is expected to be released in December 2023.

Typically, around 800 million XRP tokens are returned to escrow and locked up until the following month, while approximately 200 million XRP are injected into the circulating supply.

There are reports of a transfer of 75 million XRP by Ripple to an unknown wallet. Despite profit-taking on the closing days of September and the emergence of a bearish death cross signal, XRP showed resilience and closed the month with a marginal gain of 0.84%. At the time of writing, XRP was trading at $0.54, up 3.93% in the last 24 hours, as it tries to become the next cryptocurrency to explode.

2. Gala (GALA)

Gala Games offers a diverse array of blockchain-based games that empower players to craft, acquire, and exchange in-game assets utilizing cryptocurrencies. It not only encourages users to accumulate in-game rewards but also provides opportunities to earn cryptocurrencies and non-fungible tokens (NFTs). The incorporation of NFTs allows blockchain technology to grant players ownership of in-game items, spanning from strategic tools and accessories to virtual land.

GALA price chart

Its recent strides reveal promises similar to that of the next cryptocurrency to explode. Despite the current downturn, GALA has added close to 2% at the time of this report to sell at $0.016. Its 24-hour trading volume is up by 105.14% to $137.21 million as it hits a  market capitalization of $384.13 million.

In the Gala Games ecosystem, in-game items are procured through the utilization of the native game token known as GALA. Additionally, GALA serves as the governance token, facilitating voting processes to incentivize node operators. Gala Games is firmly anchored in the Ethereum blockchain, offering users a blend of Play-to-Earn (P2E) games, an NFT marketplace, and the capability to store and distribute music and film products.

Crucially, the network relies on a distributed infrastructure of user-owned nodes, playing an indispensable role in both platform security and developmental enhancements. These player and user-owned nodes receive rewards in the form of GALA ERC-20 tokens for their active participation in gameplay and contributions to the network. The GALA cryptocurrency is essential for engaging in the games, engaging in NFT trades within the marketplace, and participating in governance decisions.

The GALA token fundamentally acts as the medium of exchange within the Gala Games ecosystem, enabling players to acquire in-game collectibles and facilitate various transactions. Notably, the token runs as an Ethereum-based ERC-20 token, further enhancing its integration within the blockchain gaming realm.

3. Bitcoin BSC (BTCBSC)

The new Bitcoin BSC cryptocurrency project has witnessed overwhelming demand. Note that the project achieved its presale hard cap earlier than anticipated. As it gears up for its first exchange listings today, the Bitcoin BSC team shared some updates. The hard work that precedes this launch is the groundwork to make BTCBSC the next cryptocurrency to explode.

The team has revealed that Bitcoin BSC will launch its Initial DEX Offering (IDO) on Pancakeswap. The IDO is scheduled for today, Wednesday, at 09:00 UTC.

Bitcoin BSC (BTCBSC) is a BEP-20 token built on the Binance Smart Chain, seeking to enhance the Bitcoin experience by giving investors an opportunity to stake. It promises a 75% Annual Percentage Yield. Rewards will be distributed every ten minutes, reflecting the early days of Bitcoin.XRP price chart

The pricing of the BTCBSC token is a tribute to Bitcoin’s early days when it traded for under $1 in 2011. During the presale, BTCBSC was available at a price of $0.99, generating significant anticipation for explosive growth following its IDO due to widespread project interest.

Presale participants will have the opportunity to claim their purchased tokens by visiting the bitcoinbsc.io website and connecting the crypto wallet used for the purchase, starting at 9 a.m. UTC. Additionally, investors can choose to stake their tokens before claiming.

However, the Bitcoin BSC team has issued a warning regarding fake and scam versions of BTCBSC that have surfaced, capitalizing on the project’s popularity.

4. yPredict (YPRED)

yPredict (YPRED) is a platform that offers traders a range of AI-powered tools they can use to streamline and optimize their trading strategies. The yPredict ecosystem, fueled by the YPRED token on the Ethereum blockchain, places importance on security and transparency.

The primary objective of yPredict is to serve as a decentralized alternative to conventional prediction markets, fortified by the capabilities unlocked through smart contracts. Within this innovative framework, users actively participate in prediction markets that span a broad spectrum of topics, encompassing politics, business, and sports, among others.

A pivotal and distinguishing feature of the platform is its implementation of social trading. This feature empowers users to observe and replicate the trading strategies of seasoned and successful traders. By emulating these experienced traders, users can bolster their own trading decisions, potentially reaping both financial rewards and invaluable insights.

Notable features of the yPredict ecosystem also include market forecasts, an analytical dashboard, a dedicated trading terminal, and a specialized marketplace for predictive models.

The crypto community has demonstrated substantial interest in yPredict, driving the total amount raised during the presale to $4.08 million so far. The project steadily progresses towards its ultimate fundraising goal of $4.5 million. As of the current status, YPRED is priced at $0.10, with a listing price set at $0.12. Interest investors should take the opportunity to buy now before the presale ends.

Visit yPredict.

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