Next Cryptocurrency To Explode Saturday, February 3 – Polkadot, Litecoin, Uniswap

InsideBitcoins consistently offers insights into cryptocurrencies poised for substantial growth based on their recent price performances. In other news, U.S. bitcoin ETFs gained significant popularity with impressive launches, indicated by high trading volumes. 

However, the selected cryptocurrencies present growth opportunities, allowing investors a unique chance to explore options with potential significant returns on investment.

Next Cryptocurrency to Explode

Polkadot has witnessed an outstanding 111% quarter-on-quarter (QoQ) growth in its circulating market cap, reaching an impressive $8.38 billion. Also, Litecoin is accelerating, gaining ground to 12.3% of all payments in the last month, up from an average of 9.5% in 2023.

Furthermore, Uniswap’s UNI token has garnered attention for its optimistic outlook in 2024. However, Sponge V2 marks the latest token release, which many expect will drive another potential increase in the project’s value.

1. Polkadot (DOT)

Polkadot has witnessed an outstanding 111% quarter-on-quarter (QoQ) growth in its circulating market cap, reaching an impressive $8.38 billion. Furthermore, this surpasses the overall crypto market’s 54% expansion in the same period, solidifying Polkadot’s position among the top 15 crypto projects by market capitalization, with a notable 94% year-on-year (YoY) change.

Remarkably, Polkadot experienced an exponential 2,880% QoQ surge in revenue, generating $2.8 million in Q4 2023, primarily fueled by the introduction of Polkadot Inscriptions. Even excluding the Inscriptions’ four-day spike, Polkadot’s income would have doubled from the previous quarter. Despite its revenue typically being relatively lower due to network structural design, Polkadot’s key metrics showcased impressive growth.

However, the native token DOT’s price, currently at $6.96, has not consistently followed an upward trajectory. With a 3.02% price increase in the past twenty-four hours and a 9% year-to-date gain, DOT faced a 6% and 22% price drop over the past fourteen and thirty days, indicating a lack of bullish momentum and catalysts for higher levels. Despite reaching a 19-month high on December 26, DOT’s subsequent price drop raises concerns about sustaining gains over the past year, placing it as the next cryptocurrency to explode.

The numbers are in ????

Key on-chain insights from @MessariCrypto‘s State of Polkadot Q4:

⚡️ Parachain monthly active addresses increased 93%
???? Relay Chain daily active addresses increased 90%
???? XCM transfers increased 150%
????‍♂️ 2,100 total devs (2nd most in Web3)

More stats ???? pic.twitter.com/4rjmjSuYcw

— Polkadot (@Polkadot) February 1, 2024

Polkadot’s current price is $6.92, with a 24-hour trading volume of $160,917,249. Polkadot has experienced a 1.88% increase in the last 24 hours. It holds the #13 position on CoinMarketCap, featuring a live market capitalization of $8,859,057,617. The circulating supply comprises 1,280,100,268 DOT coins, and details about the maximum supply are currently unavailable.

2. Litecoin (LTC)

The open-source peer-to-peer digital currency, Litecoin (LTC), has consistently hovered around support at $64 and encountered resistance at $72, currently trading at $67.73. Despite its lackluster performance, down 34% from yearly highs, Litecoin (LTC) has yet to demonstrate a breakout in 2024. 

Nevertheless, Litecoin is accelerating, gaining ground to 12.3% of all payments in the last month, up from an average of 9.5% in 2023. Moreover, to enhance its community and signify development, Litecoin (LTC) has announced the integration of MWEB into BasicSwap DEX via its official channels, potentially positioning it as the next cryptocurrency to explode. 

In addition, following the most recent halving in 2023, the token’s price has experienced stagnation, creating a wide range that bulls attempted to breach near the $75 to $80 region but were thwarted by bears. In the short term, the bulls face an even more formidable challenge as Litecoin may encounter resistance at the $70.12 level, represented by the daily MA 50. Despite a modest price increase today, bulls could not surpass this level, resulting in a 0.82% decrease in the last 24 hours, bringing LTC’s price to $67.72 at the time of writing.

BREAKING: Litecoin’s #MWEB integration into @BasicSwapDEX ⚡️ $LTC #AtomicSwaps https://t.co/98xLQDm0kj

— Litecoin (@litecoin) February 2, 2024

Litecoin’s price increased by 0.78% in the last 24 hours, pushing its price to $67.98. with a 24-hour trading volume of $205,873,209. Litecoin is up. The current CoinMarketCap ranking is #19, with a live market cap of $5,041,515,399. In addition, about 74,162,444 LTC coins are in circulation with the max. Supply capped at 84,000,000 LTC coins.

3. Uniswap (UNI)

Uniswap’s UNI token has garnered attention for its optimistic outlook in 2024. Analysts foresee substantial growth, potentially surpassing the $26.35 threshold, driven by rising market sentiment. This positive trajectory extends further, with projections suggesting a possible climb to $31.56 by year-end, underscoring UNI’s promising prospects in the digital currency realm.

However, Uniswap’s effective moves to uplift market sentiment among crypto fans have played a crucial role in maintaining the stability of UNI’s value. Despite the natural ups and downs of the crypto market, UNI is expected to stay firm, with its trading range moving between $13.40 and $15.59. This balanced yet ambitious perspective positions UNI as a standout cryptocurrency for the year, indicating a potentially transformative period for Uniswap and its stakeholders.

Moreover, Uniswap’s continuous innovation and ability to meet the changing needs of the cryptocurrency market are positive indicators for the future of UNI. With a solid plan to use market sentiment and a straightforward path to growth, UNI is poised to become a significant digital currency, making it a potential standout in the cryptocurrency world.

Uniswap all time volume on L2s is almost at $200 billion. ???? pic.twitter.com/reYL45ROWu

— Uniswap Labs ???? (@Uniswap) February 1, 2024

The projected surge in value signifies potential returns on investment and underscores the growing acknowledgment of Uniswap’s role in shaping the future of decentralized finance. Amidst market fluctuations, UNI’s optimistic outlook stands as a symbol of stability and growth.

Within a 24-hour trading volume of $68,856,933, Uniswap is priced at $6.18. UNI is ranked #23, with a live market cap of $3,698,328,690. According to CMC, UNI supplies 598,187,016 UNI coins and a max. supply of 1,000,000,000 UNI coins

4. Sponge V2 ($SPONGEV2)

The Sponge project gained substantial popularity earlier this year, experiencing a notable surge in value due to its unique concept inspired by SpongeBob Squarepants. Initially introduced as a standard memecoin capitalizing on the hype, the project’s developers quickly implemented forward-thinking strategies for sustainable growth.

Sponge V2 marks the latest token release, which many expect will drive another potential increase in the project’s value. The approach involves interested investors acquiring Sponge V1 tokens from the project’s website and staking them to receive an equivalent amount of V2 tokens upon the token’s official launch. Notably, higher Annual Percentage Yields (APYs) will be granted to those staking more significant amounts for extended periods, with a minimum APY set at 40%, surpassing industry standards.

[embedded content]

The project features a strong and expanding community, effective marketing strategies, and a solid connection to meme culture. Additionally, the initiative to establish utility through developing a Play-to-Earn (P2E) game adds promise and depth to its potential. As a result, the project is expected to undergo substantial market growth in the coming weeks and months, making it an attractive option for individuals seeking investment opportunities in promising and high-quality projects.

Important reminder! ⏰

Exchanges have been asked to suspend trading of $SPONGE V1 on the 5th of February at 11 PM UTC.

We strongly advise all holders to withdraw their tokens from centralised exchanges and stake through the #Sponge website as soon as possible.#MemeCoin #Alts pic.twitter.com/1L8bwZcJfu

— $SPONGE (@spongeoneth) February 2, 2024

Sponge V1 emerged as a notable memecoin in 2023, gaining rapid traction on Uniswap. While its value experienced a dip post-memecoin craze, the community persevered. This resilience propels Sponge V2, innovatively introducing a unique Play-to-Earn (P2E) mechanism and staking to the ecosystem. Current Sponge V1 holders can bet on the official website to earn equivalent Sponge V2 tokens. Simultaneously, new token purchasers benefit from automatic staking, emphasizing the project’s evolution and attractive features for existing and potential investors.

Read More