Highlights:
- A potential Ripple partnership with Cardano could bolster Cardano’s DeFi ecosystem putting the price on the path to explode.
- The potential of a token burn proposal in Cronos can set in motion deflationary pressure that can drive the price significantly higher.
- A breakout from key resistance suggests that Render is set for a sharp upward swing that may even take it to $20 in the coming weeks.
The crypto market displays mixed sentiment. Bitcoin, the leading asset yet achieved another ATH of $94k, with the altcoins showing a negative sentiment. The total market cap remains above $3 trillion, and volume has dropped 7% to $179 billion.
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Since the bullish momentum in Bitcoin is driving pretty much the whole market, let’s take a look at the next altcoins to explode, such as Cardano (ADA), Cronos (CRO), and Render (RNDR).
Next Altcoins to Explode
1. Cardano (ADA)
On the monthly chart, Cardano has been on an impressive surging by 110%. ADA bulls have driven the asset above $0.80 at press time following a 13% increase over 24 hours. The market cap is $27.87 billion and the trading volume is $2.30 billion.
Charles Hoskinson, Cardano founder, hints at a possible partnership with Ripple. He also revealed in a recent livestream that he’s in talks with Ripple CTO David Schwartz. Both are focused on figuring out how to add DeFi to XRP and liquidity to Cardano. Hoskinson then touched on the possibility of bringing Cardano’s privacy oriented sidechain, Midnight, onto the XRP Ledger.
BREAKING: #Cardano $ADA Founder Charles Hoskinson says "we can add amazing DeFi components to $XRP. They can add liquidity, a wonderful stablecoin layer (RLUSD), and bridges definitely. It would be super cool to get Midnight working with #XRP. We're meeting with David Schwartz." pic.twitter.com/BA3LGRSD5I
— Angry Crypto Show (@angrycryptoshow) November 18, 2024
Just as Midnight can increase privacy features, XRP could boost Cardano’s DeFi ecosystem. Liquidity, stablecoins, and bridges may be part of the collaboration. By teaming up and using Ripple’s liquidity, Cardano positions itself as one of the next altcoins to explode.
2. Cronos (CRO)
Cronos is currently exchanging hands at $0.1812, up 9.90% on the daily chart. Despite facing stiff resistance at the $0.23 region, CRO maintains a bullish outlook, surging by 130% on the monthly chart. The bullish momentum has elevated the market cap to $4.81 billion, while the trading volume has surged by 60% to $157 million.
On its POS chain, Cronos has proposed a 50 million CRO token burn. The intention in this step is to decrease the total supply which can change the demand dynamics. This is a big proposal that validators and delegators have two weeks to vote on. Successful vote will have a deflationary effect, positively impacting CRO price.
🌋 The volcano is calling, #CROFam
The 50M CRO burning proposal on the #Cronos POS chain is now open for voting
🗓️ Validators have 2 weeks to decide. Delegators, align with your validators and help shape the outcome.
👉 Proposal details: https://t.co/jcmu3P0y3h
👉 Track… pic.twitter.com/4tv5FJznYC
— Cronos (@cronos_chain) November 19, 2024
The final decision remains with the alignment between the validators and delegators. If passed the possible price rally for CRO could be imminent. For investors looking for the next altcoin to explode should keep an eye on CRO as this proposal can potentially alter Cronos and its ecosystem’s market trends.
3. Render (RNDR)
The AI-based token RNDR has surged by 6% in the past 24 hours, reaching $8.14. RNDR is up by 20% and 50% on the weekly and monthly charts, respectively. The market cap has climbed above the $4 billion mark while the trading volume remains at $1.24 billion.
Crypto analyst World of Charts recently highlighted a massive breakout for Render after breaking out of the descending trendline. According to his analysis, Render is almost 45% in profit. However, he has noted that Render is breaking another crucial trendline resistance, and he expects another sharp rally towards 20$ in the coming weeks.
$Render #Render So Far So Good & Running In Almost 45% Profit Recently Render Breaks Another Crucial Trendline Resistance Expecting Another Sharp Rally Towards 20$ In Coming Weeks https://t.co/fyBdynCt2X pic.twitter.com/tIE4Yk3vbp
— World Of Charts (@WorldOfCharts1) November 20, 2024
Final Thought
The crypto market continues to show dynamic opportunities with Cardano, Cronos, and Render standing out as strong contenders as the next altcoins to explode. Promising developments, strategic partnerships, and technical breakouts, these altcoins are worth watching closely as they may offer massive returns soon.
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