Next Cryptocurrency To Explode: Unveiling the Top 5 Gainers from the Last 24 Hours

Cryptocurrency prices have been fluctuating for a while, and the overall feeling in the market is bearish. Bitcoin (BTC) is struggling to get back to $60K and above

Cryptocurrency prices have been fluctuating for a while now, and the overall feeling in the market is bearish. Bitcoin (BTC) is struggling to get back to $60K and above, and Ethereum (ETH) is striving to stabilize at $2,700.

However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.

Next Cryptocurrency To Explode

Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.

1. Threshold (T)

Threshold Network provides advanced cryptographic tools specifically designed for dApps. These tools address critical privacy, security, and interoperability challenges. Users enjoy features like proxy re-encryption (PRE), threshold signatures (TSS), random beacon (RB), and distributed key generation (DKG). Together, these tools enable secure cross-chain interactions, safe data sharing, and controlled access to user data

In the short term, Threshold recorded a 6.25% increase in the last 24 hours and a 28.34% rise over the past week. Its Relative Strength Index (RSI) is a promising 53.61, and the token is trading above its 200-day Simple Moving Average (SMA), indicating positive momentum. With 11 green days in the past 30 days, Threshold is shaping up as a potentially profitable investment.

One key application of Threshold is tBTC. tBTC is a tokenized version of Bitcoin that operates without custodians and allows holders to use DeFi privately and with a lower risk of censorship. The T token also plays an essential role in staking and node operations, which are crucial for the network’s efficiency and security.

tBTC just became the most important asset in DeFi.

You can swap from wBTC to tBTC: https://t.co/ikKhyyyrtk

And redeem it back to native BTC for safekeeping (or continue to use tBTC as DeFi collateral): https://t.co/WTaHt0PmOc pic.twitter.com/pWu5JkYijV

— Threshold Network ✜ (@TheTNetwork) August 10, 2024

Moreover, Threshold’s security relies on threshold cryptography and signature schemes. It also supports cross-chain projects on networks like Sepolia, ensuring smooth interactions between blockchains. In addition to tBTC, Threshold enables applications such as RandomBeacon and Threshold Autonomous Credentials (TACo) apps to expand its ecosystem.

2. Euler (EUL)

EUL has seen a notable increase in network activities and social engagement this August. The daily, weekly, and monthly charts show impressive gains of 4.64%, 44.42%, and 13.57%, respectively. Additionally, the altcoin has surged by 106.06% over the past year, outperforming 75% of the top crypto assets. This growth reflects strong investor confidence and a positive outlook for the currency.

Moreover, Euler has allocated $4 million to enhance security for its upcoming v2 platform. Supported by the Euler DAO, this initiative includes extensive code audits and the introduction of a modular architecture to minimize risks. The v2 platform, scheduled for release in the second quarter of 2024, will feature a modular design with components like the Euler Price Oracle, Euler Vault Kit (EVK), and Ethereum Vault Connector (EVC). These elements are intended to give users greater flexibility in creating lending markets.

Securing Euler.

Today, we're sharing our multi-layer security approach, developed and implemented over the past year.

In this ? you'll find some of the highlights.https://t.co/ogSpIwH2f9

— Euler Labs?️?? (@eulerfinance) August 12, 2024

In addition to these security measures, Euler Labs organized a global code audit competition, offering $1.25 million in rewards for identifying bugs in the v2 codebase. The competition drew over 600 participants and found no high or medium-severity issues. This highlights the protocol’s commitment to creating a secure platform for its users.

As the launch of Euler v2 draws near, the developers aim to rebuild trust in the platform and set a new standard for security in the DeFi space. The upgrade will give

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