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Monero (XMR) Price, ThorChain Trading Volume, Best Upcoming Cryptocurrency 2024: BlockDAG

Published

8 months ago

27 May, 2024

DISCLAIMER: This article is a SPONSORED press release and does not constitute Finbold editorial content. Crypto assets/products carry significant risks. Do not invest unless you are willing to lose your entire investment. For a full disclaimer, please.

In the vibrant cryptocurrency market, Monero and ThorChain are showing significant growth potential. However, BlockDAG is grabbing attention as the leading investment choice for 2024. With innovative improvements to its dashboard and a pre-sale that has already attracted over $34.5 million, BlockDAG is establishing itself as a leader in the sector. The upcoming launch of its X1 mining app, coupled with powerful mining capabilities, places BlockDAG in a favorable position relative to Monero’s price performance and ThorChain’s trading volumes.

Monero (XMR) Price: Stability in a Growth Environment

Monero continues to show robust performance, maintaining a stable price above the $100 level, currently trading at $133.56. Despite today’s slight decline of 1.89%, Monero demonstrated a monthly increase of 16.20% and a yearly increase of 13.20%. Monero’s market capitalization stands at $2.47 billion, with its XMR/BTC trading pair at 0.00217 BTC. Analysts are optimistic and predict a potential rise in the price of Monero above the $150 threshold soon.

The recent shutdown of LocalMonero has led to a significant increase in Monero transaction activity, with counts increasing from 22,000 to 37,000 last month and trading volumes increasing by 23.89% to $40.70 million. Monero’s current support levels are at $128 and $120, facing resistance at $140 and $150.

THORChain trading volume reflects market enthusiasm

THORChain, known for its decentralized liquidity protocols, saw a notable 51.8% increase in trading volume, reaching $502.65 million, representing 22.12% of its total market capitalization of 2,211 billions of dollars. THORChain’s position as the 51st largest cryptocurrency has solidified with a total value locked (TVL) of $356.17 million.

THORChain’s market position strengthened as its price broke out of both the 50-day and 200-day EMA, signaling a strong uptrend. The derivatives market showed bullish sentiment with significant short-term liquidations, suggesting the continuation of this trend. Resistance is set at $7.810 and $10.620, with support levels at $3.710 and $5.50.

Pre-sale results and future prospects of BlockDAG

BlockDAG is making headlines with a pre-sale that successfully raised over $34.5 million. Now in its fifteenth batch, priced at $0.009 per coin, BlockDAG has sold more than 9.8 billion coins, attracting considerable attention from the investment community. The soon-to-launch X1 mobile miner app is expected to revolutionize cryptocurrency mining by enabling efficient mining on smartphones, accessible even to those with limited technical skills.

BlockDAG’s platform recently underwent a major update, introducing features such as a “hot news” section, detailed portfolio functionality, a leaderboard preview, and a reference screen, all designed to improve user engagement and provide transparent access to investment information. Analysts are optimistic about BlockDAG’s future, predicting a potential 30,000x return on investment, with the coin’s value expected to reach $30 by 2030.

Why BlockDAG stands out

While Monero and ThorChain offer solid growth opportunities, BlockDAG stands out as the most promising crypto investment for 2024. Its successful pre-sale, innovative technological advancements, and the upcoming launch of the X1 mining app highlight its potential substantial growth. BlockDAG’s strategic updates and robust community engagement position it as the best choice for investors seeking stability and high returns in the next cryptocurrency bull run.