All attention is now turned towards the US Federal Reserve as it is set to announce a rate policy decision on Wednesday. The market widely expects a 25 basis point rate increase from the Feds but it may be more. Most importantly, everyone will be listening keenly to the Feds Chairman, Jerome Powell’s speech. He is expected to give indications on whether there will be further rate hikes and when.

The Federal Reserve is only the first among other central banks expected to make their interest rate decision known this week. The European Central Bank, the Bank of Japan, and the Bank of England are to follow suit promptly. The US Fed’s decision will equally set the tone for the other central banks.

While the European Central Bank is expected to increase its rate by a minimal point, the Bank of Japan is expected to maintain its loose monetary policy.

Meanwhile, shares slipped in Asia early on Wednesday as the market waits for the details of the Chinese stimulus package. The expected Federal Reserve’s decision also weighs on the market as traders tread cautiously. European investors are expected to show the same caution too.

The crypto market cut some benefits from all these as it rose by 0.28%. Although a small gain, it is a break from the loss of the last 24 hours as we reported. The market’s appetite will either be sharpened or dulled by the Fed’s announcement. 

The Next Cryptocurrency To Explode

There are a lot more gainers on the CoinMarketCap gainers’ list than in the last 2 days as a rise occurs. The gain margin of some assets is also significantly high. The responsible factors are usually internal to individual assets based on their development.

It is expected that traders are able to sustain the current uptick and push the market into comfortable territory. The momentum will also increase once the Federal Reserve’s decision has been announced.

1. Chimpzee (CHMPZ)

It is now very important for everyone to key into the global wave of being eco-friendly and take up activities that support it. The call for sustainability and protection has grown across the world and generated much attention. Green cryptos have come up as a response to that call. It is a move to sync the development of blockchain technology with the call for ecological preservation.

Chimpzee is one such new innovation. It leverages the combined power of these two worlds to join the fight for sustainable environments and give users a chance to earn while at it.   

The Chimpzee crypto platform is an ecologically focused one. It is currently having its presale where it plans to raise funds before getting fully into the fray of the crypto market. It has now raised over $989,000 while quietly moving towards its $1.47 million hard cap. The platform is finding a way to empower users financially and raise funds to support environmental projects.

Hey #ChimpzeeArmy!🐒🌟

Ready to make a meaningful difference and contribute to rainforest restoration worldwide?🌍

Seize this amazing chance and join the 8th Stage of our #Presale today!🚀

🔗https://t.co/Geog3EVuMC#EcoCrypto #GreenCrypto #CryptoCommunity pic.twitter.com/oN0Bg8h1N0

— Official Chimpzee Project (@RealChimpzee) July 26, 2023

The platform gives token holders an investment opportunity through what it calls the Chimpzee Gold Passport. The Chimpzee Gold Passport is basically an NFT appearing in 8 designs. Those who take part in the presale’s gold stage will have the right to mint their Chimpzee Gold Passport NFTs at the rate of 750,000 CHMPZ after the presale. The NFTs give holders access to several benefits of the ecosystem including an 18% yield if they are staked.

Chimpzee is, however, beyond a high-yielding investment scheme. The network supports wildlife protection and environmental organizations. It recently made a donation of $20,000 to the WILD Foundation for black jaguar protection.

Before that, it contributed towards reforestation efforts in Brazil and Guatemala where 1,200 and 20,000 trees were planted respectively. It also donated $15,000 towards elephant preservation.

The Chimpzee team said it has a list of organizations it wishes to work with for its goals.

The Chimpzee presale is currently in its 8th state which will end in 9 days. Once the 9th stage begins the token price will rise to $0.00085.

Visit Chimpzee.

2. Compound (COMP)

The Compound network’s naive token, COMP, has put up a show that pushes it forward as the next cryptocurrency to explode. The asset’s price nudged higher on Wednesday morning. Its total value locked also did the same. COMP’s price rose by as much as 16% on Wednesday to hit $70.

The network is one of the top decentralized finance protocols in the crypto market. It helps users have a platform where they can borrow and also lend funds. As a top lending protocol, it has more than 1.7 million ETH tokens worth about $3 billion in total value locked. With this, Compound takes 7th place among the largest decentralized finance protocols. 

The responsible factor for COMP’s sudden jump is the continuous rise of its open interest. According to reports, the open interest surpassed $170 million on the 16th of July after the Ripple vs SEC case was decided in court.

Although the open interest has dropped a bit since then, it is still higher than it was in more than 1 year. The interest recovered to more than $122 million on Wednesday. As noticed, most of the interest came from OKX, Kraken, Bybit, and Binance.

Open interest is so important in the futures market. It is the index that reveals the number of futures contracts participants hold which are yet to be settled. The higher the open interest, the better it is for the asset involved.

COMP has also had a higher trading volume in the last 24 hours. It jumped by over 115%. There is more than$220 million worth of trading volume according to CoinMarketCap.

3. Theta Network (THETA)

The Theta Network is also having movements that may push it up again. The latest upgrade within the network has the potential of moving it to become the next cryptocurrency to explode.

The network has released its Edge Note version 4.0.14 upgrade. This upgrade introduces a new FedML AI that is designed to increase earnings on TFUEL. The same upgrade is currently being processed by other Edge Nodes globally.

Integrating the FedML into Theta’s Edge Nodes gives community members special access. They can now contribute their preferences and also compute any resources to train AI models for personal content. This serves the interest of those who use Theta.tv more. The AI super-cluster will also revolutionize the user experience on the TV and reward the node community.

With the FedML integrated into Theta’s Edge Nodes, it pulls data from Theta.tv periodically. The data so pulled are used to train the video recommendation models. Every model is trained with up to a thousand samples through Edge Nodes before being deployed to make recommendations.

The ways in which this technology can be used are many and goes beyond video recommendations. It may be useful in improving how ads are served through videos. This is a market estimated to be worth about $177 billion. 

Theta is joining FdML in the journey to build the next-level MLOPs with decentralized AI training. The Theta Network powers Theta Drop which is an NFT marketplace, and Theta.tv which is a live streaming service.

The string of developments inspires much confidence in the Theta Network. It is expected to scale higher after the upgrade has been fully implemented.

4. Dogecoin (DOGE)

Dogecoin, on Tuesday, saw its biggest day in the last 4 months as it gained 10%. The significant price jump got investors excited and expecting more.

Dogecoin has now made an impressive 25% increase in the last 2 weeks. This gain rode on the back of speculations that the coin will be used as a payment token on Twitter. Since Twitter has been rebranded, a lot of other movements are expected to follow.

The recent rally also caught the attention of investors who consider it a great performance. This is especially from the perspective that the crypto market has been going through a correction. Analysts consider DOGE to be the coin of the summer for this reason. It is, indeed, the next cryptocurrency to explode.

DOGE’s recent surge also reflects in the futures market. Its open interest has crossed $500 million for the first time since the 19th of April. This means that it doubled in a matter of 2 weeks.

As time goes on, there will be more expected of Dogecoin, especially if it finally gets integrated with Twitter.

Read More. 

The Next Cryptocurrency To Explode 2023

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• Source: https://insidebitcoins.com/news/next-cryptocurrency-to-explode-wednesday-26-july-chimpzee-theta-network-compound