As the crypto market experiences a surprise uptick, NEAR Protocol ($NEAR) and Injective ($INJ) have emerged as notable gainers in the past week.
These cryptos have produced robust returns for investors, prompting a significant buzz to form around them.
However, other rising contenders, such as Ecoterra ($ECOTERRA) and Launchpad XYZ ($LPX), beckon as altcoins that could also be primed for explosive growth.
NEAR Protocol Soars After Alibaba Partnership Announcement
NEAR Protocol is a Proof-of-Stake (PoS) blockchain that aims to compete with other smart contract-enabled blockchains, like Ethereum and Solana.
The NEAR blockchain uses a technique called “sharding” to boost transaction speed and enhance scalability – with the aim of achieving finality in just 1-2 seconds.
$NEAR is NEAR Protocol’s native token, mainly used to pay for transaction fees and network storage.
As noted by Gemini, NEAR Protocol also has a bridge to the Ethereum network, allowing for cross-chain compatibility.
A recent CoinDesk report noted that NEAR Protocol has partnered with Alibaba Cloud to facilitate the evolution of Web3 throughout Asia and the Middle East.
This partnership will allow NEAR Protocol to access Alibaba Cloud’s extensive infrastructure – and has helped boost the $NEAR price dramatically.
$NEAR is now trading around the $1.46 level, up 27% in the past two weeks.
Although the token still has a long way to go to regain its previous all-time high, the recent price surge highlights its huge potential as a contender in the blockchain space.
Injective Price Soars Amid Market Sentiment Shift
Injective was also one of the biggest success stories of last week – and even made the number seven spot on CoinMarketCap’s list of the top crypto gainers.
Put simply, Injective is a layer-1 blockchain that’s built for decentralized finance (DeFi) applications, such as derivatives exchanges, prediction markets, and lending protocols.
The Injective blockchain provides the tools for these applications to succeed; for example, on-chain order books.
Injective was built using the Cosmos SDK, which means it remains compatible with various other blockchains, like Ethereum and Solana.
Unlike with NEAR Protocol, the Injective price hasn’t been soaring due to one specific news event.
Instead, the $INJ price has been gradually climbing over the past two weeks thanks to the seismic shift in sentiment seen within the broader crypto market.
Per CoinGecko, a whopping 91% of users are now “feeling good” about Injective, highlighting the growing buzz around the project.
With the $INJ price up 42% from the lows of June 15, the token is undoubtedly one to watch for further gains potential.
Which Altcoins Could Be the Next to Explode?
With NEAR Protocol and Injective both producing stellar returns recently, investors are also keen to identify which altcoins could be next to follow suit.
Two of the most talked-about projects in this regard are Ecoterra and Launchpad XYZ, which are gaining massive traction during their respective presale phases.
Emerging Eco-Friendly Altcoin Ecoterra Champions Sustainability
Ecoterra ($ECOTERRA) is a transformative project that looks to promote sustainable practices worldwide.
Ecoterra is in the midst of its presale phase and has already raised over $5.5 million from early investors.
$ECOTERRA, Ecoterra’s native token, is set to be listed on major exchanges in the coming months – with the cutting-edge Recycle2Earn app also scheduled for release by the end of the year.
Per Ecoterra’s whitepaper, this app allows users to scan recyclable materials and earn $ECOTERRA tokens as a reward.
Moreover, Ecoterra will also feature a carbon offset marketplace where individuals and businesses can purchase carbon credits to help offset their CO2 footprint.
Ecoterra’s eco-friendly approach mirrors that of the previously-mentioned NEAR Protocol – which is regarded as one of the most sustainable blockchains due to its carbon neutrality.
Overall, with its innovative rewards system and impressive early fundraising, Ecoterra has positioned itself as a promising altcoin that could be set to explode upon listing.
Launchpad XYZ Streamlines Web3 Transition with Comprehensive Toolkit
Another altcoin that many believe is primed for a significant price increase later this year is Launchpad XYZ ($LPX).
Launchpad XYZ is an all-in-one Web3 dashboard that offers real-time market insights and an array of tools to streamline the process of investing in digital assets like cryptocurrencies and NFTs.
The project’s main aim is to simplify the transition from Web2 to Web3 for retail investors.
Launchpad XYZ does this by providing a library of educational resources that covers everything, from blockchain basics to investment strategies.
Not only that, but Launchpad XYZ’s whitepaper also details several valuable tools that can be accessed by $LPX holders – including a super-fast trading terminal and a first-of-its-kind NFT DEX.
Thus, Launchpad XYZ has clear similarities to Injective since both projects are firmly ingrained in the world of decentralized finance (DeFi).
Like Ecoterra, Launchpad XYZ is still in its presale phase yet has recently breached the $1 million mark, showcasing its growing appeal.
Interested investors can purchase $LPX tokens before the platform’s full release for just $0.0445, a 26% discount on the planned CEX listing price.
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