The cryptocurrency market remains at an 18-month low. At $923 billion, its total cap is down by 2% in a week, 14.6% in a month, and by 69.9% since November. Numerous major coins are up by modest percentages in the past 24 hours, meaning there’s lots and lots of room for recovery. It’s in this context that we’ve selected a pick of the 5 next cryptocurrency to explode, looking at coins primed to surged and/or that the market has undervalued.
5 Next Cryptocurrency to Explode
1. Battle Infinity (IBAT)
Based on Binance Smart Chain, Battle Infinity (IBAT) is a new play-to-earn games platform. Its presale launched yesterday, with IBAT available at a price of $0.0015 and purchasable using BNB. The sale will run for around 90 days. It’s allocated 28% of IBAT’s total maximum supply of 10 billion IBAT.
Battle Infinity is a gaming platform with multiple P2E battle games which is integrated with the #METAVERSE. ⚽🏏
— IBAT – Battle Infinity (@IBATOFFICIAL) July 10, 2022
With its team based largely in India, Battle Infinity is building a metaverse enabling users to participate in a variety of sports-themed games. This includes, for example, the IBAT Premier League, in which players can build their own fantasy sports team, made up of real-life athletes. They win points — and IBAT tokens — based on the performance of selected players.
Battle Infinity also plans to include other games in the future, as well as competitive staking, its own decentralised exchange and an NFT marketplace. This ambition is highly bullish, and it’s likely that IBAT could surge after its public sale ends and it receives its first exchange listing.
2. Lucky Block (LBLOCK)
At $0.00082062, LBLOCK is up by 1% in the past 24 hours. However, it’s down by 7% in a week and by 25% in a month.
LBLOCK has also fallen by 91% since reaching an all-time high of $0.00974554 in February. On the other hand, it’s up by 90% since launching in late January.
Given that it’s a new and smaller altcoin, the bear market has disproportionately affected LBLOCK. Then again, it’s well-positioned to capitalise on improving market sentiment, particularly if inflation eases and GDP growth returns.
For example, LBLOCK has recently confirmed a new exchange listing: MEXC Global. Based in Singapore, this international exchange will open trading for LBLOCK from August 1st. This will provide the market with much greater liquidity.
Official Announcement – #CEX listing confirmed! 📣
Exchange: @MEXC_Global ✅
When? 1st of August 🗓️
With 24-hour trading volumes of more than $700 million, MEXC is a significant player among centralised exchanges.
— Lucky Block (@luckyblockcoin) July 11, 2022
Lucky Block is also launching an ERC-20 version of the LBLOCK coin. This paves the way for more exchange listings. In addition, Lucky Block began holding regular prize draws at the end of May, awarding $1 million to two winners. With so many things happening at once, it’s only a matter of time before it recovers.
3. Bitcoin (BTC)
BTC is up by 1% today, having fallen as low as $19,312 in the past 24 hours, only to recover to $19,831. It remains down by 2% in the past week and by 26% in the last 30 days.
BTC’s indicators remain depressed, suggesting that it’s overdue a rebound. Its relative strength index (in purple above) is at an undersold 40, while its 30-day moving average (in red) is at a position relative to its 200-day (in blue) where historically BTC’s price has shot upwards.
Interestingly, every available technical indicator suggests a market bottom. This includes common signals such as moving averages and RSIs, as well as more technical measures such as the Pi cycle bottom indicator.
The Pi-Cycle-Bottom indicator has just marked a possible bottom for $BTC.
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) July 13, 2022
Of course, with the macroeconomic picture remaining uncertain, it may be some time before the market fully leaves behind its bottom. That said, some tentative evidence is coming in to the effect that the economic situation isn’t as bad as previously feared. For example, the UK economy actually grew by 0.5% in May, beating predictions of 0%.
Regardless of the timing of an economic recovery, BTC has lead all previous bull markets. It also continues to attract more institutional investment than any other coin, as well as attract more ownership in countries with severe inflation problems. This is why it’s easily one of our 5 next cryptocurrency to explode.
4. Ripple (XRP)
XRP has risen by 1.3% in the past 24 hours. At $0.315843, it remains down by 3% in a week and by 9% in a month.
XRP’s indicators as subdued as pretty much every other major coin in the market right now. In other words, it too is based on a serious surge, going by technicals alone.
In fact, recent events suggests that XRP could rocket at some point in the coming months. Ripple’s ongoing case with the SEC is the main reason for this, with Ripple enjoying a positive ruling yesterday. Specifically, Judge Netburn struck down an SEC request to enable it to withhold important internal emails. The assumption is that said emails hold sensitive info regarding the regulator’s stance on XRP and cryptocurrencies in general. As such, it may be something close to a ‘smoking gun’ for Ripple.
This was not even a nuanced opinion. Judge Netburn tore apart every SEC argument for attorney-client privilege of the Hinman emails.
That starts the 14 day clock for an appeal to Judge Torres. And if her recent Orders are any precedent, things will move relatively fast. https://t.co/7k6KJx4Lea
— Jeremy Hogan (@attorneyjeremy1) July 12, 2022
The latest decision follows a healthy line of other similarly positive decisions for Ripple. As such, it may only be a matter of time before it receives a positive settlement, and XRP moons. This is why it’s in our list of the 5 next cryptocurrency to explode.
5. Aave (AAVE)
AAVE is up by 8.5% in 24 hours, rising to $72.38. This also represents a 19% jump in the last seven days, and 1% rise in the last 30.
AAVE is a rare coin enjoying a rally right now. Its RSI has jumped to 60 in the past few days and remains above 50. It also looks like its 30-day average has just begun rising to catch up its 200-day. Assuming it cross the longer term average, this could signal a more substantial breakout.
More generally, Aave has benefitted from recently announced plans to launch its own stablecoin. Dubbed GHO, it will be collateral-backed and pegged to the US dollar, and would work in a way not too dissimilar from DAI. It’s likely that AAVE will be used to collateralise GHO, something which could result in a supply squeeze. By extension, AAVE’s price could rise significantly in the coming months.
1/ Calling all GHOsts 👻
We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.
Read more below and discuss your thoughts for the snapshot (coming soon)!👇https://t.co/P7tHl9LbBe
— Aave (@AaveAave) July 7, 2022
It’s also important to remember that Aave remains the second-biggest DeFi platform in the ecosystem, according to DeFilLlama. Based on the Ethereum blockchain, it accounts for $5.33 billion in total value locked in, most of which comprises funds deposited for lending. One the GHO stablecoin is launched, this figure could rocket. This is why it’s one of our 5 next cryptocurrency to explode.
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