Next Cryptocurrency to Explode, 15 December — Hyperliquid, xMoney, Theta Fuel, Ethena
The global crypto market cap has fallen 19% in the past 24 hours, but the overall market sentiment is positive. Cryptocurrency prices have fluctuated for a while, including Bitcoin (BTC). BTC finally went above 100K, even as it climbed slightly to $102,348 today. Meanwhile, Ethereum (ETH) seems to be closing in on 4K.
Identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.
Next Cryptocurrency To Explode
Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.
1. Hyperliquid (HYPE)
HyperLiquid, a leading on-chain perpetual trading protocol, is proving to be a game-changer in crypto. While Bitcoin (BTC) often grabs the spotlight, HyperLiquid is setting its milestones, especially in ether (ETH) trading activity. Operating on a custom-built layer 1 blockchain, the platform has grown remarkably. According to DefiLlama, its cumulative perpetual volume has surged past an astonishing $500 billion, marking a 15-fold increase year-to-date.
Moreover, HyperLiquid has maintained an average daily volume of over $5 billion in the past week, accounting for more than 45% of total on-chain perpetual market activity in the last 24 hours. This consistent growth in ether trading suggests robust and stable capital flow, potentially fueling a significant rise in ETH, the second-largest cryptocurrency by market value.
The HYPE token, HyperLiquid’s native asset, has also seen impressive momentum. As of 7:14 a.m. EST, the token surged by 16.54% in the past 24 hours, reaching $23.85. Trading volume rose by 39.29% to $381.54 million, reflecting growing interest in the platform. In the 1-hour timeframe, the HYPE/USDC pair shows a strong uptrend supported by a parabolic curve and increasing trading volume.
Currently consolidating between $23.93 and $24.00, the price is approaching a critical resistance level. If bullish momentum continues, a breakout here could drive the token further into the $25.50–$26.00 reward zone.
HyperLiquid’s success isn’t just about trading activity. On November 29, the platform made history with one of the largest airdrops ever, distributing 310 million HYPE tokens valued at $3.90 each. This event brought the total airdrop value to an impressive $1.2 billion. Since its launch, the HYPE token’s value has skyrocketed by 511.54%, now trading at $23.85 and pushing its market capitalization close to $7 billion.
2. xMoney (UTK)
xMoney, previously known as Utrust, is making strides in solving key challenges in cryptocurrency payments. The platform aims to make crypto a reliable and user-friendly payment option by addressing high transaction fees and limited security. Its primary goal is to create a system that supports fast, secure, and low-cost transactions, enabling merchants to reach the growing community of crypto holders. For buyers, xMoney ensures safe purchases with refund options, while sellers benefit from protection against the crypto market’s volatility.
Today, the price of UTK, xMoney’s native token, is $0.1428, an impressive 46.71% increase in the last 24 hours. The token’s market capitalization has also surged over 46%, reaching $100.51 million, with trading volume climbing by 59.66% to $251.66 million in the same period. The current market sentiment for UTK is bullish, supported by the Fear & Greed Index at 80, signaling Extreme Greed. This reflects increased confidence in the token’s growth potential and highlights a broader trend of rising activity.
Moreover, xMoney’s future looks promising, especially with recent developments. In late November, the company appointed Dr Greg Siourounis, an award-winning economist, as Co-Founder and CEO. As a Mastercard principal member with strategic licenses across Europe, including e-Money and VASP, xMoney is well-positioned for the upcoming MiCA regulation.
The platform aims to lead Europe into a new era of stablecoins under the transformative EU framework. Under Dr Siourounis’ leadership, xMoney plans to integrate advanced blockchain-based payment solutions with its stablecoin program, signaling an ambitious path forward.
3. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) has jumped 19.39% in price in the past 24 hours, trading at $0.02833 as of 8:36 a.m. EST. This recent surge is tied to the excitement around its much-anticipated presale launch on Uniswap on December 10. Adding to the buzz, the development team has hinted at rapid listings on centralized exchanges (CEX), sparking speculation about potential debuts on major platforms like Coinbase or Binance.
Analyzing the PEPU/USD chart reveals a promising rounding bottom pattern. Bulls capitalized on the $0.025 support level to push the price upward. According to CoinMarketCap, PEPU has rebounded significantly from the $0.0236 range, reaching a peak near $0.03 before settling slightly lower at $0.02848.
Interestingly, the slight bounce from the $0.025 support hints at the possibility of a cup-and-handle pattern forming. If confirmed, this could point to further bullish momentum ahead. Moreover, PEPU is trading well above its 50-day Simple Moving Average (SMA), a key signal of strength. The Relative Strength Index (RSI) currently sits at 56.72, indicating neutral-to-bullish market conditions. After briefly entering the overbought zone, the RSI has cooled down, reflecting the ongoing consolidation phase.
If buyers keep up their momentum, PEPU could soon test the $0.030–$0.035 range. However, if selling pressure builds, immediate support lies at $0.020, followed by the 50-day SMA at $0.01729. A drop below these levels could signal a bearish trend shift.
4. Theta Fuel (TFUEL)
Theta Fuel (TFUEL) continues strengthening its role as a vital component of the Theta blockchain ecosystem. As the network’s operational token, TFUEL supports transactions, smart contracts, and decentralized video services. Moreover, its staking mechanism rewards participants and improves network security. TFUEL’s use in NFT liquidity mining through ThetaDrop further expands its utility and appeal.
Currently priced at $0.08401, TFUEL has seen a 5.35% increase in the past 24 hours. Over the last year, its price has surged by an impressive 80.18%, reflecting strong market performance. Notably, TFUEL has recorded 20 green days in the past month, meaning the daily close price was higher than the daily open on 67% of those days. This consistent growth, combined with relatively high liquidity compared to its market capitalization, highlights its potential as a reliable asset.
Investor sentiment for TFUEL remains bullish, supported by a Fear & Greed Index score of 82, which signals extreme greed. This indicates strong confidence and growing interest in the token.
Adding to its momentum, Theta Network recently partnered with FlyQuest, a leading esports organization and top North American League of Legends team, to launch a customized AI esports chatbot. Powered by Theta EdgeCloud, this AI agent, named a.PHiD, will be available on FlyQuest’s website and Discord. It aims to enhance fan engagement by answering questions about rosters, match schedules, and results instantly.
5. Ethena (ENA)
Ethena (ENA) is capturing attention with its strong performance in the recent bullish wave sweeping the crypto market. Over the past week, ENA has surged by an impressive 12.80%, reaching a price of $1.13 and boosting its market cap to approximately $2.04 billion.
In just the past 24 hours, ENA has climbed another 14.02%, outpacing many other altcoins. Its market cap also jumped by 14.03%, now at $3.32 billion. This price surge came after a breakout from the $0.862 level on December 10, completing a falling wedge pattern. Such a pattern, which shows a narrowing range of lower highs and lows, often predicts upward movement. This breakout reflects increasing buyer momentum, indicating the potential for more gains ahead.
Technical indicators add to the optimism. Rising trading volume and a bullish moving average crossover suggest a continued upward trend. The $1 support level has proven solid, and if ENA can surpass the $1.19 resistance, further price growth seems likely.
Adding to the excitement, Ethena Labs recently unveiled details about its upcoming stablecoin, USDe. Unlike traditional stablecoins like Tether (USDT) and USD Coin (USDC), USDe is designed for transactions and as an investment vehicle offering returns. This innovation highlights Ethena’s efforts to stand out in the DeFi space.
What makes USDe unique is its staking mechanism. Instead of relying on fiat reserves, it stakes ETH to generate rewards. This approach eliminates short funding rates and offers holders an impressive 29% annual yield. Such features make USDe a standout high-yield option, further enhancing Ethena’s appeal among investors.
Read More
- Next Cryptocurrency To Explode 2024
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump Crypto and AI Policy: Bo Hines and Sriram Krishnan Lead Key Roles
Solana’s First Layer 2 Gears Up to Ignite the 2024 Meme Coin Super Cycle
Tether Invests in Rumble to Advance Decentralized Media
KOMAUSDT now launched for futures trading and trading bots
Bitget has launched KOMAUSDT for futures trading with a maximum leverage of 75, along with support for futures trading bots, on December 23, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. KOMAUSDT-M perpetual futures: Parameters Details Listing