The global stock market rose through Friday as the financial market internalized the monetary decision of the Bank of Japan. The bank stepped on its loose monetary policy for a bit and decided to tweak it. While at that, Treasury yields in the US dropped and data shows that the country’s inflation is being moderated.
The Bank of Japan decided to twitch its curve scheme by offering to off-take 10-year Japanese government bonds. This will come beyond the earlier 0.5% rate that was planned for but its benchmark short-term rate will remain unchanged at 0.1%. The long-term bond yields will likewise remain at 0.
The BOJ’s latest decision brings it close to that of other leading central banks across the globe. Before the BOJ, the US Federal Reserve and the European Central Bank announced their interest rate increment. Although market players expect that both banks are close to the end of their rate-increment cycle.
The crypto market did not immediately react positively to central bank decisions as the stock market did. Right now, the crypto market is up by just 0.60%. Not much of an increase but significantly different from the previous 24 hours as reported in our last next cryptocurrency to explode post.
The Next Cryptocurrency To Explode
While crypto is expected to rebound, some assets are gaining strides on their own. In many cases, it is due to internal upgrades and new innovations. These steps draw investors to those crypto projects that are believed to be the next cryptocurrency to explode.
Nevertheless, investors will be working on all fronts to help the market get back on its feet.
1. BTC20 (BTC20)
Now that Bitcoin has once again fallen under $30,000 and struggling to get back above it, investors are seeking alternative investments. They desperately want to find a means to hedge their funds for the time being.
A number of projects have set themselves up as alternatives but only a few have been proven worthy. However, BTC20 seems to have captured investors’ attention especially as it raised a million dollars within 24 hours. Once BTC20 crossed its $3 million soft cap, it was easy for it to raise the additional $1 million+. The project has now raised over $5 million.
🚀 $5M Raised💰
We’ve hit an incredible milestone! Thanks to the unwavering support of our amazing community, the $BTC20 presale has now raised over $5 million! 🎊🙌
We are getting closer to the end of the presale, so don’t miss out on this incredible journey.
Join the $BTC20… pic.twitter.com/G1P8xhicu0
— BTC20 (@BTC20Token) July 29, 2023
While investors are rushing into BTC20, other traders and investors who haven’t taken advantage of it may want to learn a thing or two.
For one, the heightened investment shows there is an increased fear of missing out among the investment community. It also means that the presale is on its way to selling out before the scheduled date. Now that the project has crossed its soft cap, it has proceeded into selling the additional $3.06 million of its hard cap. The total money to be raised now is over $6 million.
BTC20 is an ERC20 token that brings Bitcoin’s features to the Ethereum network. It is creating a revolutionary staking mechanism that analysts think is going to create a supply shock for the asset. With that, they believe it will also drive the coin’s value.
The BTC20 project is bringing back the early days of Bitcoin when it sold at just $1. BTC20’s 6.05 million tokens are paying homage to that era. This allows investors to revisit that time and get in on an upgraded version.
Still, on the Bitcoin path, 21 million BTC20 are in supply. The rest of the supply is locked in a stake-to-earn contract. They will be used to provide several types of rewards for the next 120 years.
Investors are encouraged to take advantage of the new movement and buy themselves some BTC20.
2. Quant (QNT)
Quant (QNT) started Saturday morning at the head of the gainers’ list of CoinMarketCap as it showed a huge rally. Quant’s price rose by as much as 9.62% to sell at $111. It became the highest price the QNT would sell since June. Furthermore, the token has gotten sufficient attention from investors. This is the lead factor helping it to rise high.
Note that Quant recently launched its Overledger. It is the first blockchain operating system in the world. The operating system helps developers to develop applications that can run on many multiple blockchains.
Nevertheless, Quant has managed to maintain an outstanding position in the market. The QNT token has also consolidated its position as the market’s 39th crypto project. This increases the token’s appeal to investors.
This project’s uptrend in the short term is comparatively strong, showing a bullish market movement around this token. Right now, QNT’s market capitalization is over a billion dollars while it has a trading volume well over $30 million in the last 24 hours. In the last 7 days too, the token has rallied by about 8.4% to strengthen investors’ confidence.
QNT’s daily price chart also shows a continued bullish sentiment. The ongoing price action has surpassed the 50-day exponential moving average. Furthermore, the bull and bear tussle shows that bulls are powerfully in charge.
Readers may want to join the retinue of investors coming together to shore up QNT at this time.
3. Shiba Inu (SHIB)
Shiba Inu is also blazing ahead in the crypto market and showing itself as the next cryptocurrency to explode. According to Santiment, whales and other large crypto investors have entered an accumulation spree again.
According to the crypto-monitoring platform, wallets with between 10 and 100 million SHIBs bought another huge set. Their purchase was said to be worth more than $9 million within 8 weeks.
Santiment said Shiba Inu came out as a winner in the closing hours of a relatively dull week. With that, about 1.11 billion SHIBA tokens have been added to the wallet addresses of those investors.
On Friday, Shiba Inu jumped by up 6% to sell at $0.00000845. The gain was kept intact for a long time. The asset’s trading volume is up by a tremendous 302% in the past 24 hours. The market capitalization is now well over $4 billion. The current surge has also pushed Shiba Inu to become the 14th coin in the crypto market.
The latest price action driven by whales is expected to be sustained. Santiment said the asset also gained with the help of mid-tier traders as they continue their token accumulation going on for the last 2 months.
🐾 The countdown has begun! We’re just a few days away from our 3rd barkday, and the excitement is off the leash 🚀
— Shib (@Shibtoken) July 28, 2023
SHIB is now experiencing increased social interest based on its market activities. Investors who would like to get a payout from this when it’s time should invest now.
The Shiba Inu is counting down to its third anniversary and it posted on its Twitter page about the excitement around it.
4. Theta Network (THETA)
The Theta Network continues to gain in the market. It started Saturday morning with a gain of 4.62% and advances to become the next cryptocurrency to explode.
This network’s advance can be linked to the recent partnership it entered with FedML to create an artificial intelligence supercluster that plans to revolutionalize content recommendation and generative AI. The partnership is about improving personalized content for Theta.tv users with the help of decentralized video streaming and machine learning.
With this update, FedML jobs will be tested and slowly start to roll out as the FedML training model sends jobs to the Edge Network. We appreciate your patience EN operators! https://t.co/VvqsQaumwg
— Theta Network (@Theta_Network) July 26, 2023
The project has its center in the Theta Edge Network. It has a community that contributes its preferences and resources to FedML. FedML uses these resources to train its AI.
The partnership between Theta and FedML equally enables the development of generative AI. The developed technology can also be utilized for other things like personalized video ads and content.
The partnership opens the path to a new era in AI technology. They will become more accurate, preserve privacy, and be better secure.
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