The cryptocurrency market has posted some more modest gains after a bad weekend. Its total cap is up to $2.02 trillion, representing a 2% rise in the past 24 hours, as well as a 4% rise in the past couple of days. This jump encapsulates a topsy-turvy few weeks for the market, which is rising and falling in line with wider global uncertainty. However, the medium-term picture still looks pretty good, with the market up by 22% since the end of February. This overall climb is likely to continue in the coming months, with some alt coins in particular more primed for big rises than others. We collect the best of them in this list of the 5 next cryptocurrency to explode.
5 Next Cryptocurrency to Explode
1. Lucky Block (LBLOCK)
At $0.00187232, LBLOCK is down by 5% in the past 24 hours. It’s also down by 23% in the past week and by 50% in the past month.
Despite falling consistently since hitting an ATH of $0.00974554 in February, LBLOCK remains more than 300% up since its launch in late January.
It’s arguable that much of the coin’s slippage comes from impatience at the Lucky Block platform not having conducted its first full draw yet. However, once this happens later this month, there’s a good chance LBLOCK will surge again. Users will see that it works — and pays out winnings — as intended, and this will cause a renewed spike in demand.
In terms of getting ready for the first draw, Lucky Block has already launched its Android app in beta. It has also submitted its iOS app to the Apple App Store for review, and is now implementing some changes in order to receive full approval.
13.04 – project updates:
👉 iOS app – We’re currently implementing changes that were requested by Apple
👉 Web app – We’re integrating ‘vote and claim’ functionality as well as a fiat ramp
👉 Android app – 1.3 app beta is available now on Google Play – https://t.co/CUX7WLsDTx
— Lucky Block 🤞 (@luckyblockcoin) April 13, 2022
Once its apps are finalised, it will be able to go ahead with its inaugural draw. From then on, it will hold regular draws. Users can enter each draw by spending LBLOCK, giving them the chance to win 70% of each draw’s jackpot fund. All holders of LBLOCK will receive an equal of 10% of each fund.
This framework generated plenty of interest in LBLOCK when it first launched. It will generate plenty of interest again once draws begin, which is why we’ve put the coin in our list of the 5 next cryptocurrency to explode.
2. ApeCoin (APE)
APE is $15.54 right now, representing a rise of 24% in the past 24 hours. It’s also up by 33% in the past week and by 61% in the last 30 days.
APE’s technical indicators signal a massive breakthrough. Its relative strength index (in purple above) had jumped above 80 and still remains above 70. Its 30-day moving average (in red) is surging clearly above its 200-day average (in blue), indicating the pursuit of a new level. We predicted a rally for APE yesterday, and given these signals, and it does indeed seem that one is underway.
Voting for ApeCoin DAO is officially open! Go to https://t.co/VQEtMwsh98 to view and vote on the first proposals for how the DAO should be governed. See 🧵 for the tl;dr on voting.
— ApeCoin (@apecoin) March 23, 2022
ApeCoin is the native token of of the highly popular Bored Ape Yacht Club NFT series. It’s a governance and utility token that grants holders to right to vote on how the Board Ape’s ApeCoinDAO distributes funds to new projects and apps. Currently, the DAO is open to voting on how exactly it should work, something which has helped increase interest in APE:
Given how popular the Bored Ape Yacht Club has become, APE may rise much higher in the coming weeks. Indeed, the trading volume for Bored Ape NFTs has reached $23 billion in the past year. This makes it the biggest NFT collection in crypto, helped along by the fact that various celebrities are among its holders.
3. Bitcoin (BTC)
BTC is up by a modest 1.8% in the past 24 hours, reaching $41,443. This represents a 3% rise in the past week and a very slight 0.4% rise in the last 30 days.
BTC’s indicators are now at a sweet spot. Its RSI has risen to 70, after being subdued for much of this month. Its 30-day is also just beginning to overtake its 200-day average, signalling a possible breakout.
Regardless of whether BTC surges right now, it will surge sooner or later. Not only is it the cryptocurrency market’s leader, but it’s the best-placed coin to take advantage of the process of de-dollarisation that appears to be gaining steam right now.
For instance, in an investment note published last month, UBS economist Zoltan Pozsar predicted the emergence of “a new world (monetary) order centered around commodity-based currencies in the East.” This process is the result of increasing isolation and separation between the US and the West, on the one hand, the Russia and China and the East, on the other. Russia, China and other nations are increasingly exploring the use of other currencies to drive international trade, and Pozsar is one of a growing number of analysts who believe Bitcoin could benefit from this.
“[A]nd Bitcoin (if it still exists then) will probably benefit from all this,” he writes in the concluding sentence.
Such an endpoint is probably still a long way off, but signs of it happening can be found in how BTC has witnessed growing trade volumes in the Ukraine and Russia, for instance. It’s also evident in suggestions by Russian officials that trading partners in Africa and elsewhere could potentially use BTC as payment for Russian materials.
4. The Sandbox (SAND)
SAND is up by 9.5% in the past 24 hours. At $3, it’s also up by 7% in the past week, but down by 3% in the past month.
SAND’s indicators also reveal an emerging rally. In SAND’s case, reports that the Sandbox is planning a $400m funding round (at a $4 billion valuation) is the big short-term spark for this rally. Once this rally is confirmed, SAND could rise even further.
Not only that, but the Sandbox has also revealed it’s partnering with metal band Slipknot to create a music-oriented metaverse.
— The Sandbox (@TheSandboxGame) April 19, 2022
This partnership comes on top of recent deals with HSBC, FlickPlay, Ledger, World of Women, and numerous others. Together, this highlights how the Sandbox is probably the most promising metaverse-related platform in the sector right now.
5. Ripple (XRP)
XRP is $0.768259 right now, indicating a slight fall of 0.2% in the past 24 hours. However, it has risen by 7% in the past week, despite being down by 4.5% in the past month.
XRP may not be setting the market alight right now, but it has a good chance of doing so in the next few months. This is all because Ripple’s case with the SEC is shaping up nicely for a positive outcome.
For example, Judge Netburn last week denied an SEC motion to save the regulator from having to produce emails related to an important speech given by William Hinman in 2018. In this speech, Hinman set out the SEC’s view that ethereum is not a security. Ripple and its defence team therefore believe there’s a chance that drafts of and emails about the speech could mention XRP, and even reveal that the SEC also didn’t deem it a security.
Judge Netburn sticks to her guns on the DPP issue and re-re-re-Orders the production of the emails related to Hinman’s speech.
— Jeremy Hogan (@attorneyjeremy1) April 11, 2022
It’s because of such developments that Ripple CEO Brad Garlinghouse told CNBC last week that the case is going “exceedingly well.” Indeed, with Judge Torres upholding Ripple’s right to present its fair notice defence last month, Ripple really does have a strong chance of gaining a favourable settlement. Needless to say, if it does, XRP will skyrocket. This is why it’s one of our 5 next cryptocurrency to explode.
Live from #PBWS2022, @bgarlinghouse sat down with @cnbc‘s @ryan_browne_ to talk crypto regulation, Ripple’s global traction and use cases that he sees growing across the industry. pic.twitter.com/ouQYhY3B5n
— Ripple (@Ripple) April 14, 2022
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