Crypto Gloom

The following cryptocurrencies will explode on Wednesday November 29th – Launchpad XYZ, Chainlink, Sei

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By Crypto Gloom

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According to the latest market reports, the global cryptocurrency market has been growing steadily. Its market capitalization is $1.43 trillion, an increase of 1.40% in the last 24 hours.

During the same period, the overall cryptocurrency market size surged to $52.39 billion, showing a notable increase of 3.79%. Within this volume, decentralized finance contributed $4.86 billion, accounting for 9.29% of the total cryptocurrency market 24-hour trading volume. Meanwhile, stablecoins demonstrated their dominance, accounting for $47.69 billion, or 91.03% of the entire cryptocurrency market’s 24-hour trading volume.

Bitcoin’s dominance rose to 51.99%, up 0.38% for the day. The next cryptocurrency to explode explores more assets worth considering for investors.

As the market continues its upward trajectory, investors and analysts are closely monitoring these trends, anticipating further developments and changes in the ever-evolving cryptocurrency landscape.

Cryptocurrency HeatmapCryptocurrency Heatmap

On the stock market, Asian stocks temporarily hit one-week highs, sparking a bond rebound and dollar decline as hints of a possible U.S. interest rate cut were raised. The New Zealand dollar also rose significantly after the central bank hinted at the possibility of further interest rate hikes if inflation persists.

In early trading, MSCI’s Asia-Pacific stock index outside Japan (.MIAPJ0000PUS) rose 0.5%. However, the index declined due to a decline in Hong Kong technology stocks.

Conversely, Japan’s Nikkei (.N225) fell 0.2%. Meanwhile, the New Zealand dollar surged 1.1% to hit a four-month high of $0.6207, above previous resistance.

An overnight statement from Federal Reserve President Christopher Waller, previously known for his hawkish stance on the U.S. central bank, added momentum. Waller suggested interest rate cuts could begin within a few months depending on the continued decline in inflation.

Next Cryptocurrency to Explode

Fed funds futures rallied following Waller’s comments, pricing in the possibility of a cut of more than 100 basis points in 2024, with a 40% chance of a cut starting as early as March. As a result, two-year Treasury yields plummeted and the dollar weakened across Asian markets.

1. Chainlink (LINK)

Despite recent market volatility sparked by Binance’s regulatory issues and exchange-traded fund (ETF) debate, Chainlink (LINK) continues to perform strongly. The token’s resilience stands out, with it rebounding above critical support levels on the back of optimism following the release of Chainlink Staking v0.2 priority migration.

Chainlink’s (LINK) latest v0.2 migration has successfully launched, introducing an upgraded staking platform with increased flexibility for stakers. This upgrade not only ensures improved security measures, but also provides a modular framework and dynamic reward system. All of this fuels its efforts to become the next cryptocurrency.

LINK price chartLINK price chart

In this protocol enhancement, the rollout of the v0.2 upgrade begins with a nine-day “priority migration” phase. This will allow existing v0.1 stakers to convert their staked LINK tokens and transfer their rewards to the new v0.2 system.

The main goal of this upgrade is to gradually expand participation. The schedule outlines the Early Access and General Access periods scheduled between December 7 and December 11, respectively.

Currently, Chainlink (LINK) price remains above the 25-day exponential moving average (EMA), providing important support at $13.750. The upward trajectory of the EMA along with the Relative Strength Index (RSI) indicates an uptrend with least resistance.

Further upward momentum in buying activity could push the price of Chainlink into the supply zone in the $14.691 to $16.477 range. A breakout and close above the midline of the designated order block located above $15.576 is required to confirm a sustained upward move.

In an extremely optimistic scenario, a price surge for Chainlink could cross the supply zone and potentially breach the highs of the $16.600 range, resulting in a 13% increase from current levels. Supporting this bullish sentiment, the RSI shows an upward trajectory, suggesting upward momentum. Historically, an upward crossing of the signal line (yellow band) indicates a buying opportunity, usually followed by a significant uptrend.

Additionally, the Awesome Oscillator (AO) remains in positive territory above the midline, reinforcing the bulls’ dominance in the LINK market and proving their bullish outlook.

Conversely, profit-taking activity could push Chainlink’s price below the 25-day EMA of $13.750. This could expose it to the support levels of the 50-day, 100-day and 200-day EMAs located at $12.276, $10.419 and $8.939 respectively. Failure to hold this support level could lead to a return to early October highs of $8.148 and a re-examination of consolidation levels above $5.565.

2. Launchpad XYZ(LPX)

Launchpad XYZ (LPX) is a fast-growing cryptocurrency platform advancing through its pre-sale phase. Launchpad XYZ’s native token, LPX, has seen significant demand in its ongoing presale, surpassing its fundraising goal of over $2 million. The pace of development puts it at the forefront of the next generation of cryptocurrencies set to explode.

This comprehensive platform aims to simplify engagement across the DeFi, cryptocurrency, metaverse and NFT sectors and democratize Web3 accessibility for a wider audience.

Owning LPX tokens gives you numerous benefits within the platform, including subscription discounts, reduced trading fees, and priority access to upcoming cryptocurrency presales. LPX holders can also participate in staking to receive long-term rewards.

The Launchpad XYZ platform integrates a variety of tools and features, including educational materials, AI-based analytics, metaverse integrations, and expert market insights.

Recognizing its potential to overcome significant obstacles preventing mainstream cryptocurrency adoption, Launchpad XYZ has received rave reviews from novice to intermediate investors.

The Launchpad XYZ whitepaper outlines the developer’s strategy to list LPX on various centralized exchanges (CEXs) with the goal of increasing token accessibility. Early supporters saw this moment as pivotal in LPX’s trajectory, positioning it as a sign of interest from investors monitoring developments in November.

Visit Launchpad XYZ.

3. SIX

Sei (SEI) is also poised to be the next cryptocurrency to explode today, with its market value experiencing an exceptional surge, soaring a whopping 82% in just 7 days. This remarkable growth can be attributed to the strategic investment of Circle, a leading company in the cryptocurrency field. Circle’s investment and integration of USD Coin (USDC) into Sei’s blockchain was instrumental in fueling this rapid rise.

SEI price chartSEI price chart

The price of Sei (SEI) soared to $0.29, marking a significant milestone for the token. This surge is not simply a temporary rise, but a sustained rise over the course of a week, indicating strong market confidence in Sei’s potential. The integration of USDC, a widely accepted stablecoin, will contribute to this robustness and liquidity, further strengthening investor confidence.

With recent performance and strategic alliances, the future looks promising for Sei (SEI). The merger with USDC and the substantial support of Circle have laid a solid foundation for continued expansion and development.

4. Terra Classic (LUNC)

Over the past 30 days, LUNC has experienced a notable surge, recording a 97.22% surge in value, sparking debate as to whether this surge is a temporary rise or the start of a sustainable upward trajectory.

LUNC price chartLUNC price chart

LUNC’s surge in value can largely be attributed to significant developments within the Terra ecosystem. Terra Classic Labs has made a strategic investment of approximately $500,000 in TerraClassicUSD (USTC), an algorithmic stablecoin associated with the Terra platform.

This capital injection is perceived as a confidence-boosting strategy that may have contributed to recent price increases. The Terra Classic community has also come together in support of the token, mobilizing efforts to revive the struggling asset. This resulted in a notable price increase for both USTC and LUNC within a single weekend.

The key driver of this rally is significant token burns. A whopping 78.24 billion LUNC tokens will be removed, reducing circulating supply to 5.8 trillion and potentially intensifying upward pressure on the token price. Token burning, a common strategy in the cryptocurrency industry, aims to manage inflation and increase token value by reducing supply.

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