Cryptocurrencies poised for imminent growth: AIOZ Network, Alpaca Finance, Ethereum (Gas) - 27 April Insight
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The market has been quite bullish from late October 2024 until now, though it took a slight dip for a couple of months. However, things are looking up for altcoins once more, with investors hoping for another November/December 2024-style bull run.
In this article, we'll explore some promising cryptocurrencies with a lot of growth potential before the end of the year. By keeping an eye on these tokens, investors can make informed decisions and maximize their gains. We'll also mention Solaxy, a unique meme coin that's generating buzz for its Layer 2 blockchain solution.
The Next Big Thing in Cryptocurrency
Today, we're diving into the performance of various cryptocurrencies that boast significant growth potential – just what investors need to stay ahead! Also, don't miss out on Solaxy, a new meme coin that mixes the excitement and reward potential of meme coins with the practical utility of a Layer 2 blockchain solution.
1. Ethereum Name Service (ENS)
Ethereum Name Service (ENS) has maintained its standing in the crypto world, currently at 94th position among digital assets. It's been on the up, hitting $18.77 – a 1.52% increase in the last 24 hours and a 32.23% jump over the past week. With a market cap of $674.21 million and a 24-hour trading volume of $153.03 million, ENS remains a force to be reckoned with.
Looking at its long-term performance, ENS has performed reasonably well over the past year, gaining 25.42%. It's outperformed around 71% of the top 100 cryptocurrencies and even surpassed Ethereum itself. Although ENS is still under its 200-day simple moving average (SMA), the momentum appears positive, with 17 green days recorded in the past month, showing that 57% of recent trading sessions were positive.
ENS's team, ENS Labs, has been pushing the project forward, focusing on expanding its reach and scalability. One of their major plans is to launch Namechain, a Layer 2 rollup network, by the end of 2025. This upgrade aims to reduce costs and make ENS an even more accessible part of the Layer 2 ecosystem, allowing users to seamlessly link easy-to-remember names to crypto addresses.
While ENS has encountered some resistance in pushing past certain key levels, it remains an exciting project because of its innovative upgrades. If the broader market remains strong, ENS may see more growth in the future, making it a promising investment for long-term holders.
2. AIOZ Network (AIOZ)
AIOZ Network is making waves with its decentralized Web3 platform, offering an exciting blend of artificial intelligence, storage, and streaming services. It operates through a worldwide network of decentralized infrastructure providers (DePINs), enabling users to earn rewards by sharing their computing power. These resources are then used for media storage, video processing, live streaming, and AI services, positioning AIOZ as a modern player in the expanding Web3 space.
Over the past 24 hours, AIOZ has seen a 8.49% surge, with a weekly and monthly climb of 52.27% and 53.94%, respectively. This upward trend comes after a period of stagnation, signaling growing interest in AIOZ.
On the daily price chart, AIOZ is moving within a parallel channel, getting close to its upper edge. After breaking through resistance at $0.3795, the token settled at approximately $0.4124 at the time of writing. If momentum stays strong before hitting the next resistance, AIOZ could see a further 10% gain. On the other hand, if the price dips below $0.33, it may fall by around 15%, suggesting that investors remain cautious and eagerly watching the price movements.
In addition, AIOZ has partnered with AiPets, a mini-app on the Telegram platform. This partnership uses AIOZ's W3S technology to boost in-game features such as NFTs, music, and videos. With the assistance of more than 190,000 AIOZ DePINs, the partnership ensures dependable and scalable storage for AiPets players. Through insightful partnerships and advanced technology, AIOZ continues to push the boundaries of what Web3 can offer.
3. Solaxy (SOLX)
Solana already boasts low fees compared to Ethereum. Now, Solana looks poised to make transactions even cheaper – all thanks to Solaxy, its first layer-2 network. Solaxy's objective is to take some of the computational load off the Solana mainnet, which in turn reduces congestion and lowers on-chain activity.
The project has been progressing at a rapid pace, recently launching a test network and a block explorer. These significant milestones indicate that development is moving swiftly. Solaxy's latest updates have centered on improving the number of transactions per second (TPS), boosting data throughput, and enhancing rollup performance. These improvements aim to make Solana even more efficient by offering its first absolute scaling solution.
But Solaxy's goals don't end there. The platform is also built using cross-chain technology, drawing strengths from both the Solana and Ethereum networks. It offers an impressive annual staking reward of 126% for SOLX holders who opt to lock up their tokens.
While Solaxy is still under development, it has already managed to raise an impressive $31.9 million through its presale. This strong early support demonstrates investors' faith in the future of Solana-based scaling solutions. The buzz around the project is growing rapidly. In fact, the popular YouTube channel 99Bitcoins, which has over 724,000 subscribers, has hinted that Solaxy (SOLX) could skyrocket by 100 times after its official launch.
For those wanting to get involved, Solaxy tokens (SOLX) are available through the project's presale at $0.001706 each. Purchasing tokens can be done using BNB, ETH, USDT, or even a bank card, directly from Solaxy's official website. However, interested investors should act quickly, as the price is expected to increase within a few hours.
Buy SOLX Tokens Here
4. Alpaca Finance (ALPACA)
Alpaca Finance is making a name for itself within the DeFi sector. As DeFi assets continue to draw attention, it's no surprise that Alpaca Finance is becoming popular. According to the project's official site, it's now one of the biggest lending platforms in the market.
The project functions on the Binance Smart Chain and aims to provide lenders with a secure and steady way to earn yields. It also caters to borrowers who can take out collateralized loans for leveraged yield farming, allowing them to boost their profits.
At the time of writing, ALPACA is trading at $0.2396, a significant 336.07% increase compared to a week ago. This price surge is backed by a massive trading volume of $317,334,469.96, highlighting strong investor interest.
The remarkable surge in trading volume has significantly improved investors' perception of the project, leading to a remarkable increase in its overall market value. Alpaca Finance might be one of the DeFi projects that benefit most from the growing interest in decentralized finance. It's definitely one to watch as the sector continues to expand.
5. Gas (GAS)
Gas (GAS) plays a vital role in keeping the NEO blockchain going smoothly by powering transactions and smart contracts. Additionally, it serves as a reward for NEO holders and council members, ensuring proper operation.
A major upgrade for GAS occurred last year when transaction fees were reduced by 80%. This change made using the NEO network much cheaper, which attracted more users and developers, making the GAS token even more valuable.
Another significant shift was the move from the old Neo Legacy MainNet to the new N3 MainNet. This migration ended GAS creation on the old network and marked a major step forward for NEO's development.
At the time of writing, GAS is trading at about $3.54, having seen a 5.35% increase in price over the past day. Over the last month, GAS has registered 16 green days, showing positive movement 53% of the time. Meanwhile, the Fear & Greed Index is currently at 61, reflecting growing confidence among traders compared to the previous week's score of 35, which suggested fear. These signs indicate a stronger GAS market outlook and increased involvement in the NEO ecosystem.
Further Reading
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- As the market continues to show resilience, investors are hopeful for another bull run similar to November/December 2024 for altcoins.
- In the next five years, Solaxy, a unique meme coin with a Layer 2 blockchain solution, is expected to generate buzz and potentially explode, offering an intriguing blend of growth potential and technology in the finance sector.
- Just as Ethereum Name Service (ENS) has demonstrated promising long-term performance over the past year, keeping an eye on such tokens can help investors make informed decisions, maximizing their gains before the end of 2025.
- AIOZ Network, a decentralized Web3 platform, is another growing cryptocurrency that is attracting attention with its blend of artificial intelligence, storage, and streaming services, capitalizing on the expansion of the Web3 space.
