BNB flips Solana as Binance rolls out auto-transfer feature Which altcoins could surge next?

By Crypto Gloom On Dec 28, 2023

Binance Coin (BNB) surpassed Solana (SOL) to become the fourth-largest cryptocurrency by market capitalization after Binance launched its automatic transfer feature.

BNB currently boasts a market capitalization of over $50 billion, with daily trading volume exceeding $1.9 billion.

In this article, we will take a closer look at the rise of BNB and introduce three altcoins that could soon see explosive growth.

Binance Coin Switches to Solana Due to Increased Demand with Auto-Transfer Feature

BNB’s sharp rise came from Binance’s launch of the Isolated Margin Auto-Transfer Mode.

This feature allows Binance users to seamlessly execute isolated margin transactions using assets from spot and margin wallets without the need to manually transfer assets.

By removing this friction, the new Direct Debit feature makes it much easier for traders to open and close margin positions efficiently.

Any remaining assets are automatically shuffled back into the trader’s spot wallet after closing the position.

This improved user experience has likely contributed to the increased demand for BNB.

Currently, BNB is $6 billion ahead of SOL in the market capitalization rankings, but SOL still accounts for much higher daily trading volume.

However, technical experts suggest that there could be a turning point for BNB, given that the coin is quickly approaching a critical resistance area around $340.

BNB hasn’t tapped this area since May 1, but a breakout could signal the start of a more extended uptrend.

This, combined with recent developments in Binance, has many investors watching BNB closely in the final days of 2023.

What altcoins could be next for Surge?

While the fight between BNB and SOL is currently in the spotlight, several altcoins could be staging breakout rallies of their own.

Below are three altcoins that are gaining attention due to their creative use cases, making them potential candidates for a price surge.

1. Bitcoin Minetrix (BTCMTX)

One altcoin that is gaining significant traction is Bitcoin Minetrix (BTCMTX), a decentralized project that seeks to transform Bitcoin mining through a new Stake-to-Mine mechanism.

This mechanism allows BTCMTX token holders to stake their tokens and earn mining credits, which can then be burned to earn a share of cloud mining time or profits.

With this approach, Bitcoin Minetrix aims to bring BTC mining to more people by eliminating the need for specialized hardware.

The total supply of BTCMTX was limited to 4 billion tokens, with 42.5% allocated to fund mining operations.

The Bitcoin Minetrix team has also set aside significant allocations for marketing campaigns, community initiatives, and staking rewards.

Although still in pre-sale, the Bitcoin Minetrix project has raised over $6.5 million in seed funding by allowing investors to purchase BTCMTX tokens at a discounted price.

Blockchain security company Coinsult has conducted a thorough audit of Bitcoin Minetrix’s smart contracts, further boosting investor confidence.

With solid fundamentals and a unique value proposition, BTCMTX is an altcoin with significant potential in the coming weeks.

Those interested in the pre-sale can purchase BTCMTX tokens at bitcoinminetrix.com.

2. NF prompt (NFP)

Another altcoin that is gaining momentum is NFP (NFP), an AI-powered user-generated content and NFT creation platform.

NFP tokens facilitate a variety of functions on NFPrompt, including staking rewards, governance rights, and payment for services such as NFT creation.

NFPrompt successfully completed its ICO on December 27th, after which the NFP token was listed on Binance.

This listing on a major exchange combined with a massive ICO post-airdrop has created significant hype for the NFP.

At the time of this writing, NFP tokens are trading at $0.94, which corresponds to a total market capitalization of $232 million.

Although NFP prices have fallen in the last 24 hours, many believe this is purely due to profit-seeking rather than a fundamental problem with the NFPrompt project.

As altcoin season momentum builds, NFPrompt becomes another altcoin that could soar in early 2024 with a focus on the resurgent NFT space.

3. METIS DAO (METIS)

A third promising altcoin is MetisDAO (METIS), an Ethereum layer 2 scaling solution that addresses issues such as high fees and network congestion.

The native METIS token is used by Metis to make gas payments, stake, process governance decisions, and create decentralized autonomous entities (DACs).

Several developments have recently put MetisDAO in the spotlight, such as the Ecosystem Development Fund announced by the MetisDAO Foundation.