The cryptocurrency market is yet to establish a clear direction for the week. However, all indicators are that bulls are gaining control. This is evident in that, despite the slow start to trading activity, the overall cryptocurrency market capitalization has increased by $0.56% to $1.99 trillion in the last 24 hours. As bullish momentum builds up across the market, it is only natural to wonder which is the best cryptocurrency to invest in today for parabolic ROI.
This is the question we seek to answer in this article by focusing on top cryptocurrencies likely to explode today. The article zeroes in on cryptocurrencies with big news and whose investor sentiment is majorly positive. The rationale is simple. As the Bitcoin halving approaches, investors seek opportunities to maximize returns, and where the hype is at the moment is where prices are likely to be moving fastest.
Top Crypto To Explode Today
This article zeroes in on cryptocurrencies whose news and overall activity levels around them point to a potential bullish breakout today. The article touches on Ethereum’s sustained momentum above $3000 ahead of the Dencun hard fork, PEPE’s increased buying volumes on news of a possible Coinbase listing, and COTI’s sustained upside momentum as investors marvel at the demonstration of Garbled Circuits, a revolutionary blockchain encryption technology.
The article also touches on Uniswap’s sustained upside momentum on the new governance proposal, the expected surge in Ethereum token trading, and WorldCoin’s increased bullish sentiment as $8 support holds.
Ethereum (ETH)
Ethereum (ETH) is one of the most promising cryptocurrencies today. At a time when most large-cap cryptocurrencies are directionless, Ethereum is gaining upside momentum, and buying volumes are on the rise. Ethereum buying volumes are up by 13% to $14.176 billion.
The increased investor attention on Ethereum has a lot to do with the upcoming Dencun upgrade, which is expected on March 13th. This upgrade is expected to significantly increase the number of transactions happening on the Ethereum blockchain. That’s because it will significantly reduce the transaction costs for Ethereum L2s, benefits that will be pushed onto users.
@0xMantle has been consistently one of the cheapest ecosystem for TXs$ETH EIP-4844 upgrade will push L2 gas fees even lower
The lowered gas fees will reduce friction for micro transactions on-chain and chains would be able to pass on cost savings to users.
The low cost… pic.twitter.com/qSxp87NxIp
— Defi_Maestro ✺ (@Defi_Maestro) February 19, 2024
The excitement around Dencun has seen momentum build up around Ethereum and helped push the price through the $3000 resistance. With this resistance broken and buying volumes on the rise, Ethereum investors have their eyes set on a break towards $4000 or more. Such potential makes Ethereum a cryptocurrency worth buying for an investor seeking explosive growth in the short term.
Pepe (PEPE)
Pepe (PEPE) is an Ethereum-based meme coin that seems to have awoken just as the activity around Ethereum tokens is about to increase. Today, Pepe’s trading volumes are up by 25% to $188.89 million, and the price is following suit.
One of the primary reasons investors are interested in PEPE is the expectation that all Ethereum tokens could pump after Dencun. Meme coins are likely to perform better overall, and since PEPE is one of the most popular Ethereum meme coins, it is expected to draw in the most volumes, triggering FOMO.
Investors are also excited by speculation that Coinbase could soon be listing PEPE. The kind of volumes such a listing could draw in, especially now that bullish momentum is building up, could be astronomical.
With such solid indicators for PEPE, it easily comes across as one of the best meme coins to buy today. The potential for it to go parabolic and turn a small investment into life-changing profits is relatively high.
COTI (COTI)
COTI (COTI) has positioned itself as one of the best platforms for businesses looking to build Fintech solutions on the blockchain. This is a big market, especially at a time when the world is looking more into decentralized financial solutions. However, besides the strong market proposition, a lot is going on within the COTI ecosystem, making it a top crypto to explode today.
One of them is the magnitude of its recently launched blockchain privacy solution, Garbled Circuits. This is a first in terms of blockchain encryption. It also comes with many other perks, including better speeds, lower latency, and lower space requirements for data.
@VitalikButerin spoke about Garbling Circuits (https://t.co/60vI1fmQNV) and now we demonstrate it on the blockchain for the first time ever!
🔗 Watch the Demo: https://t.co/9dINbi6IBP
[3/8]— COTI Foundation (@COTInetwork) February 20, 2024
The best part is that COTI’s recent pump has brought it to the limelight, and people who didn’t know of its existence now know. This means higher buying volumes and better potential for more price gains going forward.
Uniswap (UNI)
Uniswap (UNI) has recently been one of the best-performing cryptocurrencies, and this momentum is not easing up. This is quite evident in its price action, as the token holds firmly above $10 despite profit-taking after a 70% pump.
Looking ahead, Uniswap’s future looks bright and could be one of the top cryptocurrencies to explode today. A key factor likely to drive Uniswap’s growth is Dencun, which will drive activity levels on the Ethereum blockchain. Since Uniswap takes up a huge portion of Ethereum tokens trading volumes, the value of UNI tokens could go up.
Trading volume on Uniswap to exceed $34bn in 2024. pic.twitter.com/Ivl07vUMXe
— NekoZ (@NekozTek) February 26, 2024
Also, with a new governance proposal in place that could see token holders earn more from fees, Uniswap is a cryptocurrency to watch. The odds are in its favor.
WorldCoin (WLD)
WorldCoin (WLD) continues to hold its position as one of the best AI cryptocurrencies in the market today. This is thanks to its connection to Sam Altman, the founder of OpenAI. WorldCoin’s recent rally has a lot to do with news from OpenAI about the launch of the text-to-video feature.
While its connection to Sam Altman could help WorldCoin keep growing in value, the most bullish aspect of WorldCoin in the short term is its price action. After more than 100%, profit-taking was expected to trigger a correction. However, WorldCoin remains firmly above $8, now a key support level. That’s an indicator that bulls are firmly in control.
With AI cryptocurrencies expected to be among the best performers this bull cycle, WorldCoin is, without a doubt, a cryptocurrency worth keeping an eye on today. The odds of it emerging among the best-performing cryptocurrencies this week are pretty high.
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