- Injective Protocol introduces CW-404 standard, potentially boosting its market value by aiming for a $100 price target.
- OCEAN’s ascent to a $10 valuation is fueled by its recovery and the growing interest in AI-related cryptocurrencies.
- Ethereum and Bitcoin set their sights on $8,000 and $80,000, respectively, driven by upcoming technological upgrades and market dynamics.
Crypto Tony, a renowned crypto analyst, recently shared an analysis on X that has caught the attention of the digital currency community. The analysis highlights several key cryptocurrencies, including INJ, FET, OCEAN, ETH, and BTC, on the brink of potentially significant bullish runs. These predictions come when the market is ripe with the much anticipated 2024 bullish run.
INJ, following a period of consolidation, has seen a remarkable surge, reaching a new zenith at $43 in January. This surge underscores the coin’s resilience and the growing market confidence, now with a capitalization of $3.60 billion as of February. Injective’s introduction of the CW-404 standard aims to directly compete with Ethereum’s ERC-404, potentially attracting a larger developer community and enhancing the coin’s value further. Currently, INJ is trading on a bullish note as the price recovers from the downtrend, with the current price set at $34.29, up by 0.75% in the past 24 hours.
Ocean Protocol has shown a strong recovery trajectory. Despite experiencing a market cap dip in 2022, OCEAN has rebounded impressively, achieving a 60% increase over the last month. This bullish trend, underpinned by an ascending triangle pattern, positions OCEAN on a path toward reclaiming and possibly surpassing its all-time high, with a target of reaching the $10 mark as the allure of AI coins continues to swell. OCEAN is trading at $0.7092, a decrease of over 6% on the daily timeframe.
Fetch.ai has not been left behind in this bullish frenzy. Surpassing the $1 mark to set a new all-time high at $1.20, FET’s value has soared by over 70% in just the past month. This remarkable performance indicates the growing interest in AI cryptocurrencies, suggesting that FET could potentially achieve a $10 valuation. As of this writing, FET displays a downtrend as the price drops from $1.21 to $1.05, a decrease of 7% today.
Ethereum, the second-largest cryptocurrency by market cap, is also gearing up for significant growth. With the price recently surpassing $3,000, ETH is on the brink of a bullish run that could reach $5,000 and eventually $8,000. This optimism is buoyed by the anticipation of Ethereum ETFs in May and the forthcoming Dencun upgrade, events expected to inject further momentum into ETH’s value. ETH is trading at $2,950, with a gain of 0.95% in the past 24 hours.
Bitcoin, the cryptocurrency frontrunner, has also made headlines by surpassing the $50,000 mark, a level unseen since 2021. Following the approval of Bitcoin ETFs and in the lead-up to the Bitcoin halving event in April, BTC is expected to embark on a bullish rally, possibly reaching new heights beyond its all-time high, with predictions aiming for the $80,000 mark. BTC’s price is currently at $51,053, with a mere gain of 0.25% today.
