The crypto market capitalization is $1.33 trillion, showing a 0.62% increase over the past 24 hours. Over the same period, the total trading volume in the crypto space has surged to $46.76 billion, marking an impressive 16.67% increase. It is a good omen for the entire market and the next cryptocurrency to explode to see such a consistent rise.

Decentralized finance plays a significant role, with a total trading volume of $4.88 billion, constituting 10.43% of the overall crypto market 24-hour volume. Stablecoins maintain a stronghold, representing $42.16 billion in trading volume, which accounts for a substantial 90.17% of the total crypto market 24-hour volume.

Bitcoin’s dominance currently stands at 51.76%, reflecting a 0.28% increase over the day. 

Note that investors are now cautiously reentering Israel’s financial markets after the beginning of its war with Hamas. They acknowledge the descent into one of the most severe security crises in decades.

Next Cryptocurrency To Explode

The recent decline in the dollar’s value has been beneficial. On Tuesday, the Israeli shekel displayed an impressive recovery, regaining the 5% it had lost in the aftermath of last month’s tragic events.

Furthermore, the nation’s stocks and bond prices have steadily regained their footing. However, key market indicators related to risk, such as credit default swaps (CDS), continue to raise concerns.

1. Trust Wallet Token (TWT)

While Trust Wallet had a remarkable run in 2022, its performance in the first half of 2023 presented a different story. However, the token experienced a resurgence after a unique Binance listing following a rebranding effort.

It’s essential to keep in mind that price forecasts, especially for volatile assets like cryptocurrencies, can often prove to be inaccurate. Additionally, it’s worth noting that many long-term crypto price predictions are generated using algorithms, which means they can change over time.

There was a CoinCodex short-term prediction yesterday that anticipated Trust Wallet price to reach $1.58 by November 11, with further growth to $1.67 by December 6. CoinCodex’s technical analysis appeared bullish, with 27 indicators signalling positive trends and only four indicating bearish trends.

Interested in building your $BTC bags? Here’s a super easy-to-follow visual guide on exactly how you can do it, with #TrustWallet.

Plus, we’ve thrown in some useful info on #Bitcoin in there too, to really build your #crypto knowledge 🎓

Read on👇https://t.co/RIf9ASfeYI pic.twitter.com/1aNFz1oJRO

— Trust Wallet (@TrustWallet) November 7, 2023

Things are, however, racing as the token has risen by more than 10% in the last 24 hours. The TWT token sold at $1.71 at the time of this report to beat the previous prediction. Such impressive movement means that TWT is indeed the next cryptocurrency to explode. If bulls sustain their pressure, the token will further explode.

2. Toncoin (TON)

Toncoin (TON) is currently priced at $2.63, boasting a 24-hour trading volume of $72.16 million. This signifies a 7.76% price increase within the last 24 hours and a noteworthy 20.36% price surge over the past seven days. With a circulating supply of 4 billion TON tokens, Toncoin holds a market capitalization of $10.46 billion.

For historical context, the all-time high for Toncoin (TON) was reached at $5.29 on November 12, 2021, nearly two years ago. In comparison, the current price represents a 50.53% decrease from the all-time high.

Conversely, the all-time low for Toncoin (TON) was recorded at $0.519364 on September 21, 2021, approximately two years ago. The current price reflects a substantial 403.91% increase from the all-time low.

Over the past seven days, Toncoin (TON) has experienced a notable price increase of 20.40%, surpassing the broader global cryptocurrency market, which has seen a 2.60% uptick. Furthermore, it also outperforms similar Layer 1 (L1) cryptocurrencies, where the increase is 3.50%.

$TON Coin has spiked over 7.6% in just 24 hours, reaching $2.44, following Telegram’s latest update that introduces the ability to conduct Giveaways

— TON Coin (@toncoin) November 6, 2023

Regarding market sentiment, the community demonstrates a bullish outlook, with more than 70% of users expressing positive sentiments about TON as the next cryptocurrency to explode.

3. Bitcoin Minetrix (BTCMTX)

The world of Bitcoin mining is in a constant state of evolution as miners strive to manage costs and enhance profitability. However, the challenges of rising electricity expenses, noise pollution, and the substantial maintenance costs for mining hardware have left most miners operating at a loss.

Spotlighting the security measures of #BitcoinMinetrix compared to Conventional Cloud Mining: 🛡️

🔐 #BTCMTX: Decentralized, user-controlled tradeable assets.

💰 Traditional Cloud Mining: Demands cash deposits.#CryptoComparison #CloudMining pic.twitter.com/E6RqPQOV1P

— Bitcoinminetrix (@bitcoinminetrix) November 7, 2023

In response to these challenges, Bitcoin Minetrix has introduced an innovative cloud mining solution to address these issues. It provides decentralized and secure cloud mining solutions built on the foundation of the Stake-to-Mine concept.

BTCMTX, the native token of Bitcoin Minetrix, is currently in its presale phase, having already raised over $3.62 million toward its presale target of $4.4 million. Each BTCMTX token is priced at $0.0115, with just four days remaining before the subsequent price increase.

Users can easily acquire these tokens using ETH, USDT, or bank cards after connecting a secure wallet to the platform. Participating in the BTCMTX presale holds the potential for early investor rewards, given the possibility of a price surge upon listing on cryptocurrency exchanges.

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Regarding tokenomics, the BTCMTX token supply is capped at 4 billion tokens. Of this supply, 42.5% is allocated as liquidity for Bitcoin mining operations on the platform, while 35% is dedicated to marketing efforts and the growth of BTCMTX. Furthermore, 10% is reserved for community rewards, and 12.5% will serve as staking rewards for BTCMTX stakers until the cloud mining platform is launched.

In a recent Twitter post by the developers at Bitcoin Minetrix, cloud mining is emphasized as the solution for efficient Bitcoin mining operations. They highlighted the advantages of a straightforward starting point for beginners and eliminating hardware-related costs, noise, space constraints, and overheating issues.

Visit Bitcoin Minetrix.

4. Polygon (MATIC)

In an exciting development within the Polygon (MATIC) ecosystem it has introduced the deployment of POL on the Ethereum mainnet. POL will serve as the new token for Polygon, taking over from the existing MATIC token. This transition is a crucial component of the project’s ongoing “2.0” transformation, initially announced in July. As of this update, the token’s contract has been successfully deployed on the Ethereum network.

The introduction of the POL token was initially disclosed by Polygon (MATIC) in July, and it is slated to assume the role of the ecosystem’s primary token, supplanting MATIC. This move aligns with Polygon’s updated roadmap, signalling the imminent arrival of a new iteration of Polygon and its associated token. Additionally, this fresh token is anticipated to play a pivotal role in Polygon’s overall upgrade, with its contract now officially integrated into the Ethereum blockchain.

For proof generation, MidenVM uses the RPO hash function. Though traditional hash functions like BLAKE3 are very fast, they are not optimal for use inside zero-knowledge proof systems. For efficient recursive proof generation, you need a ZK-friendly hash function.

But why use… pic.twitter.com/gEG3k1oSap

— Polygon (@0xPolygon) November 3, 2023

Despite its planned replacement, MATIC has risen quite consistently since the announcement. It has gained over 4% in the last 24 hours to sell at $0.76 at the time of this report. This may be a development to set POL up as the next cryptocurrency to explode.

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• Source: https://insidebitcoins.com/news/next-cryptocurrency-to-explode-wednesday-8-november-bitcoin-minetrix-trust-wallet-token-toncoin