Bitcoin halving is around the corner and active investors started preparing for one of the greatest fests in the crypto space. The Bitcoin algorithm reduces the production of cryptocurrency by slashing down the mining rewards after every 210,000 blocks. This roughly takes up to 4 years and the next Bitcoin halving is less than 30 days from now.
Historically, Bitcoin price shoots up in the following months after halving takes place, and the rest of the crypto market follows the cryptocurrency price. But this time, the halving event is going to make more impact rather than just pumping BTC price. Experts see the altcoin season is going to be here during this bull run. There are several coins in the position to capitalize on ferociously growing interest in cryptocurrencies and blockchain technology.
Where Bitcoin is expected to hit $100K in the bull market, nearly a 100% surge from the current trading price of $64K, $ETH, $MNW, and $SUI are expected to see 300% jump. Due to their utilities, these cryptocurrencies are in position to better monetize the opportunity of attention on the crypto market.
Ethereum ($ETH)
First up should be the biggest altcoin, Etheruem ($ETH). It has been a follower of Bitcoin for many years and it would have done the same but since there’s going to be an altcoin season, $ETH must lead it. Ethereum barely needs an introduction, the first and biggest smart contract enabled blockchain. A home to some of the biggest decentralized finance (DeFi) projects and gives a huge contribution for DeFi space.
The potential altcoin season, a possibility of an Ethereum exchange traded fund (ETF) similar to Bitcoin ETF, and most importantly the utilities, gives Ethereum enough room to attain unprecedented highs. Standard Chartered Head of Crypto Strategy, Geoff Kendrick, recently came up with a prediction for Ethereum price to hit $14,000 following the halving. If this is to happen, $ETH sees more than 300% growth in trading price from the current price levels.
$ETH currently trades at $3,286 following a 6% dip today, and the token has lost over 10% in the weekly time frame. However, in the last 30 days, it gained nearly 10% of its value. The position of Ethereum gives the advantage to its native cryptocurrency to benefit from movements in the global cryptocurrency market.
The utility tokens with strong fundamentals are going to rock the crypto market in the coming bull run and Morpheus.Network native token $MNW is a perfect example.
Morpheus.Network ($MNW) is leading a transformation in supply chain management with its cutting-edge middleware solution. This platform emphasizes Software as a Service (SaaS) tailored for supply chains, enhancing both transparency and efficiency in shipping operations. It effectively tackles major concerns like counterfeiting and logistical challenges, earning endorsements from key figures and organizations in the industry. Among its prestigious clients are Gulftainer in the UAE, Canada’s retail giant Sobeys, the international brand Coca-Cola, FCL, and Marsh Insurance.
Globally, the platform’s impact is acknowledged through its adoption by the governments of Brazil, Uganda, and Argentina to improve agribusiness supply chains. Its development is further supported by notable tech accelerators such as Google Accelerator Canada and Microsoft’s Startup Founder Hub, along with insights from a UN supply chain expert, highlighting its dedication to providing superior supply chain solutions. Its recognition by SAP further validates the quality of its services.
A vital feature of Morpheus.Network is its masternode program, which plays a crucial role in enhancing the blockchain’s security and scalability. By staking 900 $MNW tokens, participants contribute to the network’s robustness and can earn up to 18% APY in rewards, illustrating the project’s success in integrating innovative technology with valuable financial incentives for its supporters.
$MNW token has shown resilience during the tough crypto winter phase and the token plays a vital role as utility token for Morpheus.Network. It is trading at $1.21 following a 6% price drop in the last 24 hours. $MNW price is going forward through ups and downs that makes it nearly 3% up in the monthly time frame. However, the said utilities makes the token likely to gain 300% in the coming months.
Sui ($SUI)
Sui is a decentralized blockchain platform designed for high throughput and low latency, enabling scalable and responsive decentralized applications (dApps). It utilizes a unique consensus mechanism and architecture to provide developers with the flexibility to create efficient and user-friendly dApps.
$SUI token, native to the Sui blockchain, serves multiple purposes including transaction fees, staking, and governance within the ecosystem. As the foundational asset of Sui, the $SUI token plays a crucial role in maintaining the network’s security, economy, and decentralization, positioning Sui as a significant contender in the next generation of blockchain platforms.
Sui has emerged as one of the top-performing cryptocurrencies, drawing in numerous developers and a growing user base. This influx has propelled the total value locked (TVL) within its ecosystem to an all-time high, surpassing $700 million.
The price of Sui has been on a pronounced upward trajectory throughout the year, marking gains for three consecutive days and now approaching its peak level since February 15th. The token has consistently traded above its 50-day and 100-day Exponential Moving Averages.
For the Sui token to negate the potential double-top formation, it must breach the critical resistance level at $1.9697, its February peak. Achieving this would set the stage for a potential rally to $2.50.
At present, $SUI token is trading at $1.75 following a 5% dip today. In the last 30 days, the token has seen more than 20% increase in value. $SUI is among the top gainers if seen in the yearly time frame and it has proven the utility for a cutting edge blockchain network. This gives the crypto token the potential to see a significant price jump in the near future.
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