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5 Next Cryptocurrency to Explode – April 2022 Week 3

04/13/2022
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The cryptocurrency market has regained some ground after a few bad days. Its total cap stands at $1.97 trillion, up by 1.8% in the past 24 hours. Altcoins are largely to thank for this rise, with bitcoin (BTC) basically flat in the past day. But with the market as a whole remaining largely subdued, investors are still waiting for the first real bull market of 2022. However, here’s a selection of the 5 next cryptocurrency to explode. These are coins which have a chance of rallying strongly even without an overall bull market.

5 Next Cryptocurrency to Explode

1. Lucky Block (LBLOCK)

At $0.00245581, LBLOCK has fallen again today, to 4.5%. It’s also down by 22% in a week and by 39% in a month.

Lucky Block (LBLOCK) price chart - 5 Next Cryptocurrency to Explode.

LBLOCK remains up by more than 400% since it became tradable on January 27. That said, it has been on a decline since reaching an all-time high of $0.00974554 on February 17. This is largely because the Lucky Block lottery platform is still awaiting its full launch.

Fortunately, Lucky Block appears to be making good progress towards holding its first draw, which is due later in this month. It has launched its Android app in beta and is awaiting approval for its iOS app. From there, it will only be a matter of time before it holds its first draw.

Based on Binance Smart Chain, Lucky Block works a little differently from most preexisting lotteries. All holders of LBLOCK will take an equal share of 10% of each draw’s jackpot fund. On top of this, people who spend LBLOCK to buy tickets will have the chance to win 70% of each fund.

This premise has enabled Lucky Block to grow quickly. It already counts 50,000 holders, despite not having fully launched yet. This is likely to grow strongly once the first draw is finally held.

2. Loopring (LRC)

LRC is up by 3% today, at $0.912255. And despite being down by 18% in the past week, it remains up by 33% in the last 30 days.

Loopring (LRC) price chart - 5 next cryptocurrency to explode.

LRC’s indicators have been subdued for several days now. Its relative strength index (in purple) has wavered between 50 and 20 since the beginning of the month, revealing that traders are overselling it right now. This implies it could be in a for leap soon.

Looping is arguably one of the best-placed layer-two scaling solutions (for Ethereum) to grow in the coming months. At the end of March, it launched beta of the long-awaited GameStop NFT marketplace. The full version of the marketplace is due for launch later in April, offering users the chance to buy non-fungible tokens representing digital goods and properties.

GameStop chose to bypass layer one completely in launching a NFT marketplace, something which represents an enormous validation for Loopring and layer two in general.

It’s also worth pointing out that, even though Ethereum will be transitioning to proof-of-stake in the next few months, demand for layer-two scaling platforms such as Loopring will remain strong. This is because, in the short term, PoS alone will do little substantially reduce Ethereum fees or increase its transactions per second. As a result, we expect LRC to continue rising, which is why it’s one of our 5 next cryptocurrency to explode.

3. Polygon (MATIC)

Another layer-two coin, MATIC is up by 5% today. At $1.43, it’s down by 10% in the past week, but up by 5% in the last 30 days.

Polygon (MATIC) price chart.

MATIC’s RSI shows a gathering momentum at the moment, potentially helping it to overcome recent losses. One thing that’s buoying it at the moment is its pledge to become completely carbon neutral in 2022. This effort will be helped in part by its pledge of $20 million in funding for development for carbon neutral technologies.

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If successful, this would make Polygon the first blockchain platform to become “carbon POSITIVE,” according to Polygon Studios CEO Ryan Watt. But even without this drive, Polygon has benefitted from other news recently, including Robinhood’s listing of MATIC.

On top of this, Polygon continues to account for $4.17 billion in total value locked in, more than any other layer-two platform. And as with Loopring, it will remain in demand even after Ethereum completes its merge later in the year.

4. Cardano (ADA)

ADA is up by 1% in the past 24 hours, reaching $0.956993. This represents an 18% drop in the past week, but also a 21% rise in the past month.

Cardano (ADA) price and technical chart.

ADA’s indicators are much like those of most other major coins right now. With both its RSI and 30-day-moving average (in red) down, these signal an incoming recovery.

The question is, of course, when this might happen. However, ADA is due a big rally this year, as it continues to build out its network and capabilities. As of writing, around 900 projects and/or dapps are building on Cardano, laying the foundations for an ecosystem that could rival Ethereum’s.

From standing at only $1 million at the start of January, Cardano’s total value locked in has now risen to $235 million. This is a rise of over 23,400%, with the launch of its DEX SundaeSwap in January largely responsible for this growth. It’s hardly resting at this milestone, however, with Input Output Hong Kong (the org responsible for its development) announcing a new incubator scheme focused on serving needs in Africa.

Input Output Hong Kong continues to develop Cardano’s capabilities, as well as announce new projects. Sooner or later, it’s therefore going to start snowballing, with demand for ADA following in its wake.

 

5. Ripple (XRP)

At $0.714203, XRP is up by 1% in the past 24 hours. Unfortunately, it’s also down by 12% in a week and by 6% in 30 days.

Ripple (XRP) price and technical chart.

XRP’s technical indicators are all low, but this potentially presages a big jump in the future. In fact, with Ripple’s case against the SEC going quite well, the altcoin could surge massively in the next few months, once a decision or settlement has been reached.

In recent weeks, rulings from the judges presiding over the case have made it likelier that Ripple will emerge from it looking good. This includes Judge Torres denying an SEC motion to strike Ripple’s fair notice defence, which claimed that the regulator didn’t give it sufficient warning of any securities law violation.

A settlement isn’t likely to be reached for another couple of months, yet once it arrives XRP could indeed explode. Its current all-time high of $3.40 was set back in January 2018, so with Ripple continuing to grow in the meantime, XRP could really take off. That’s why it’s one of our 5 next cryptocurrency to explode.

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Source: https://insidebitcoins.com/news/5-next-cryptocurrency-to-explode-april-2022-week-3