Next Cryptocurrency to Explode, 14 December — GateToken, Magic Eden, Clearpool, Mina

The overall feeling in the market has been positive since the close of Uptober. This month, Bitcoin (BTC) finally rose above its all-time high and closed in on the 100K mark. Meanwhile, many investors have already made plenty of gains from the November bull run.

Determining the next cryptocurrency to explode might be challenging as most funds are attracted to pumping assets. However, this article will explore the performance of cryptocurrencies with much growth potential, especially before the year runs out. The aim is to identify coins with some potential and help investors and traders make informed decisions about each token.

1. GateToken (GT)

GateChain is a public blockchain focused on secure digital asset transfers and enhanced asset safety. Its native token, GateToken (GT), plays a key role in the ecosystem, serving as a means to pay transaction fees and stakes for network validation. Stakers also earn rewards, making it appealing to investors seeking active participation.

GT is priced at $13.29, reflecting a 3.67% dip in the last 24 hours. However, the token has shown impressive growth over the past month, rising by 36.92%. Investor interest remains strong, as highlighted by a Fear & Greed Index score of 83 (extreme greed), signalling bullish sentiment.

One notable metric is GT’s performance compared to its 200-day Simple Moving Average (SMA), which stands at $4.16. Trading at 221.17% above this benchmark underscores its sustained upward momentum. Additionally, the token has delivered consistent gains, with 57% of the last 30 days closing in the green, further boosting investor confidence.

For December 2024, GT is projected to see modest growth, with prices ranging between $13.26 and $13.99. The average forecast of $13.45 suggests potential returns of around 6.15% for investors who buy now and sell at the upper limit.

Looking ahead to January 2025, analysts predict GT trading between $13.83 and $13.89, with an average price of $13.87. Assuming the market maintains its current trajectory, this represents an additional 5.26% potential profit.

2. Magic Eden (ME)

The $ME token is reshaping the onchain economy with its versatile applications in trading, minting, and wallet protocols. As the official token of Magic Eden, $ME stands at the forefront of cross-chain activity, uniting one of the largest communities of decentralised users.

Magic Eden, known for its pioneering efforts in NFT and token trading, plays a central role in the success of $ME. Its user-friendly mobile app simplifies entry into the crypto world, providing seamless access to assets across multiple ecosystems. This approach positions Magic Eden as a welcoming gateway for retail users exploring the decentralised space.

The much-anticipated launch of $ME on December 10, 2024, was marked by an airdrop valued at over $700 million. Initially trading around $4.50, the token experienced volatility, fluctuating prices between $4.40 and $6.00. At its peak, $ME achieved a market capitalisation of $1.6 billion before quickly settling below the $1 billion mark. As of press time, $ME trades at $4.16, reflecting a current market cap of $546.46 million.

The airdrop attracted significant attention, with over 70,000 traders claiming nearly 69 million ME tokens within the first hour. However, the claim process faced complications, as many users reported errors such as tokens already being claimed or receiving vague error messages. Despite these challenges, some traders capitalised on the token’s volatility. One trader reportedly earned $586,800 by swiftly selling their claimed tokens.

Want to earn more $ME rewards?

If you stake $ME AND do Magic Eden Quests, you’ll unlock more $ME

How staking $ME & questing works 👇 pic.twitter.com/BrzGa5f1vm

— $ME (@MEFndn) December 12, 2024

Adding to its appeal, $ME is now listed on major exchanges like Coinbase and Binance, enhancing its accessibility and liquidity. The ME Foundation acknowledged the technical issues during the claim process, attributing them to heavy traffic on the Magic Eden mobile app. This transparency helped address user concerns while highlighting the overwhelming interest in the launch.

3. Catslap (SLAP)

Catslap ($SLAP), a cat-themed meme coin, is making waves with its innovative Slap-to-Earn rewards system and Zealy social quests campaign launch. These initiatives have pushed the token’s price beyond $0.01, a remarkable achievement considering its current price of $0.00474443. Since its listing just a week ago, $SLAP has skyrocketed over 4,000%, showcasing impressive growth as it consolidates before reaching new all-time highs.

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The excitement began with the start of Season 1 of the Slap-to-Earn game. Players can compete for a share of the $100,000 prize pool, with rewards distributed based on leaderboard positions. The top 10 players will claim the largest prizes, while others will receive $SLAP airdrops proportional to their ranking. This engaging system has created a frenzy among participants, boosting community involvement and the project’s appeal.

Adding to the excitement, Catslap launched its Zealy Community Slapdrop Campaign, introducing additional leaderboards for Zealy slapping activities alongside the existing country and user leaderboards on the website. According to the team, these quests enhance key community and holder metrics, positioning $SLAP as a strong candidate for listings on major exchanges like Binance.

With 661 million slaps recorded at press time, the project will reach one billion slaps in the coming days. This impressive activity reflects the community’s enthusiasm and the project’s potential to sustain its upward trajectory.

Moreover, users can participate in slapping activities on both the website and through Zealy quests, maximising their rewards. With a new centralised exchange listing set to be announced in just five days, $SLAP continues gaining momentum, drawing attention from investors and the broader crypto community.

Visit the Catslap Presale

4. Clearpool (CPOOL)

Clearpool is making waves in the DeFi world by seamlessly connecting traditional capital markets with decentralised finance. Facilitating over $120 trillion in transactions, this innovative project provides a platform where borrowers can directly access loans from the DeFi ecosystem. By leveraging a dynamic interest rate model driven by market supply and demand, Clearpool ensures liquidity providers earn attractive investment returns.

Clearpool’s potential was recently boosted through its strategic partnership with Mansa Finance, a DeFi platform focused on providing liquidity to cross-border payment firms and import-export businesses. As part of this collaboration, Mansa will integrate its cross-border payments and trade-finance services into the Ozean blockchain powered by Clearpool. This integration with Ozean’s Real World Asset (RWA) yield blockchain strengthens Clearpool’s position as a key player in decentralised credit markets.

The platform’s native token, CPOOL, has shown impressive growth. Over the past week, its value surged by 42.57%, including an 8.53% rise in the last 24 hours. With 16 green days in the past month, CPOOL demonstrates resilience and potential for sustained upward momentum.

The highly anticipated launch of Ozean moves one step closer…

🔱 Ozean’s Poseidon Testnet is LIVE! 🔱

This milestone brings us closer to enabling automatic native yield on-chain through Ozean’s RWA-focused blockchain, paving the way to unlock trillions in TradFi capital.

🎉… pic.twitter.com/Et8qPUQ4Ho

— Clearpool (launching Ozean🌊) (@ClearpoolFin) December 12, 2024

Currently trading at $0.5812, CPOOL boasts a 1,698.95% increase above its 200-day simple moving average (SMA) of $0.032304. This significant performance suggests that Clearpool’s adoption is steadily increasing. Experts predict the token could reach $1 by the end of 2024, further solidifying its place in the growing DeFi landscape.

5. Mina (MINA)

Mina Protocol stands out in the blockchain world with its unique design. Unlike traditional blockchains that grow larger as they are used, Mina’s “succinct blockchain” stays at a constant size of just 22KB, regardless of activity. This lightweight approach minimises computational demands, making it easier for decentralised applications (DApps) to run smoothly. 

Additionally, Mina uses zk-SNARKs, a cryptographic proof system that allows users to verify blockchain transactions without exposing sensitive details, enhancing privacy and security.

Recently, Mina Foundation announced a strategic partnership with SingularityNET, a leading platform for decentralised Artificial General Intelligence (AGI). This collaboration focuses on advancing AGI while prioritising data privacy and security. Such partnerships demonstrate Mina’s commitment to innovation and its role in shaping the future of decentralised technology.

Mina has shown impressive market activity, with its price rising by 3.29% in the past 24 hours and 28.79% over the last month, reflecting growing investor confidence. Its high liquidity, supported by a 0.197 volume-to-market cap ratio, ensures active trading and robust market performance.

Mina is built different. The devs get it, do you?

Mina has landed at #8 on the @ElectricCapital Developer Report for fastest-growing ecosystems by full-time devs.

This ranking shows a significant increase in the number of developers choosing to consistently build with ZK on… https://t.co/Scav8AQcij

— Mina Protocol (httpz) 🪶 (@MinaProtocol) December 13, 2024

The token’s 14-day RSI at 42.05 indicates neutral trading conditions, indicating possible sideways movement. Despite its low volatility of 13%, Mina has managed to record 19 green days in the past 30, signalling a steady upward trend that appeals to investors looking for stability.

Over the past year, Mina has achieved a modest 3.22% growth and is trading 25.77% above its 200-day simple moving average, demonstrating its resilience and strength in the market. Furthermore, Mina outperforms 20% of the top 100 crypto assets, solidifying its position as competitive and reliable.

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