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The crypto market capitalization reached $1.29 trillion today, marking a notable 1.23% increase over the past 24 hours. Despite fluctuations, the market continues to show resilience and steady growth.

However, the market’s trading volume over the same 24-hour period declined by 21.91%, standing at $37.89 billion. Within this volume, the decentralized finance sector represents $4.02 billion, comprising 10.60% of the overall crypto market’s 24-hour trading activity.

Stablecoins also gained a trading volume of $33.7 billion, accounting for 88.92% of the 24-hour crypto market volume.

Bitcoin’s dominance in the market currently stands at 52.38%, showing a slight decrease of 0.33% over the day. 

The primary pension fund managed by China’s social security fund experienced a modest increase of 5.1 billion yuan in 2022, equivalent to 0.33%. This marked a 4.9% decline from the 2021 achievement, as reported by the National Council for Social Security Fund on Saturday.

Next Cryptocurrency To Explode

The decline in the fund’s yield can be primarily attributed to substantial shifts in the global economic and political landscape, coupled with increased volatility in financial markets, as explained in an official statement by the state investor.

1. Neo (NEO)

The Neo (NEO) founder, Da Hongfei, unveiled an essential development within the Neo network on October 27. According to Hongfei, the Neo team is working on developing a sidechain that is compatible with the Ethereum Virtual Machine (EVM). This innovation is designed to thwart potential threats posed by Miner Extractable Value (MEV) and bolster Neo’s resilience against attacks and manipulation from MEV.

NEO price chart NEO price chart

 

MEV represents one of the prevalent cybersecurity risks within the DeFi sector, targeting vulnerable projects. Beyond fortifying defenses against MEV-related attacks, the forthcoming sidechain will serve as a protective barrier for the Neo network, ensuring the security of user data and transaction details.

Moreover, this new sidechain will closely mirror the Neo N3 stack, incorporating its fundamental features, such as a dBFT consensus mechanism and NeoVM, along with a subsidiary NEO version. This development is instrumental in enhancing the overall user experience within the Neo ecosystem.

NEO began to experience price increases since the announcement was made. The asset has gained 27.35% in the past week. It is currently selling at $10.86, to the amazement of several players.

With the anticipated launch of the new sidechain before the end of this year, experts speculate that NEO’s value could reach $20. This projection suggests a potential 54.45% price surge for NEO, making it the next cryptocurrency to explode in 2023.

2. Arbitrum (ARB)

The Arbitrum DAO is amid a crucial voting process concerning a significant proposal. If this proposal garners approval, it will enable ARB token holders to lock in their tokens, receiving a yield paid out in tokens in return. The decision, currently undergoing a community vote, is set to conclude on November 6.

ARB price chartARB price chart

This proposal, originally put forth by PlutusDAO in September, suggests that the DAO utilizes Arbitrum treasury funds to finance the staking yield and distribute it to stakers through a smart contract spanning 12 months.

The governance proposal offers several choices for users to determine the allocation of the 3.5 billion ARB tokens (equivalent to $3.4 billion) held in the treasury or to reject the proposal entirely. It presents a tiered token allocation system, recommending that 1% (100 million tokens) and 1.75% (175 million tokens) of the total 10 billion ARB supply be allocated from the DAO’s treasury to fund staking rewards.

Additionally, the proposed staking model incorporates penalties for early withdrawals to incentivize stakeholders to maintain their investments, aligning the commitment of token holders with the long-term goals of the ecosystem.

As a result of this development, the next cryptocurrency to explode is up by 14.13% in the last seven days as it currently sells at $1.05.

3. Meme Kombat (MK)

Meme Kombat presents an exciting battle arena where participants can wager on clashes between AI meme characters using the native MK token. The unpredictable nature of these battles, coupled with the potential to win substantial MK rewards, complements Meme Kombat’s staking system, which boasts anticipated annual yields of 112%.

In light of the recent surge in interest within the meme coin market, Meme Kombat appears well-positioned to ride the wave of optimism.

Notably, Meme Kombat’s team is openly identified, a departure from the prevalent anonymity often found in the sector, adding an essential element of trust. Analyst Crypto Tony has highlighted this aspect.

Moreover, the project is spearheaded by Matt Whiteman, an industry veteran in the Web3 space who formerly served as the COO of Phat Loot DeFi.

With its innovative platform, enticing staking incentives, and an ongoing presale, Meme Kombat ticks all the boxes for a meme coin poised to capitalize on any potential Dogecoin-inspired surge.

To date, the Meme Kombat project has raised over $1.1 million in funding, and with MK tokens available at just $0.183, early investors view this as an opportune moment to join the project from its inception.

Visit Meme Kombat.

4. Lido DAO (LDO)

Lido DAO (LDO) sells at $1.95, with a robust 24-hour trading volume of $63.16 million. This reflects an impressive 10.85% surge in the last 24 hours and a steady 6.45% increase over the past seven days. With a circulating supply of 890 million LDO tokens, Lido DAO boasts a market capitalization of $1.73 billion.

LDO price chartLDO price chart

Lido DAO (LDO) reached its highest price point at $7.30 on August 20, 2021, approximately two years ago. Currently, the price is 73.41% lower than this all-time peak.

The lowest recorded price for Lido DAO (LDO) was $0.406150 on June 18, 2022, just over a year ago. The current price stands at a remarkable 378.07% above this all-time low.

Lido DAO (LDO) has outperformed the global cryptocurrency market, boasting a 6.50% increase in the last seven days, while the broader market saw a 3.50% increase. Furthermore, Lido DAO has also outshone similar cryptocurrencies within the Polygon Ecosystem, as they exhibited no change during this period.

The Lido DAO (LDO) community exudes a bullish sentiment today, with over 66% of users expressing optimism about the token’s performance. This positive sentiment reflects the confidence and enthusiasm surrounding Lido DAO, as well as LDO’s potential to become the next cryptocurrency to explode.

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