Best Crypto to Buy Now November 05 - Fantom, Sui, Flow

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Best crypto to buy now’ is one of the most searched cryptocurrency-related terms in Google, and each day InsideBitcoins lists some options.

The cryptocurrency market saw $33.12 billion in transactions during the last 24 hours, representing a 1.25% decrease. It’s noteworthy that the decentralized finance (DeFi) sector contributed $3.93 billion to this volume. This accounts for approximately 11.88% of the total cryptocurrency market’s 24-hour trading volume. This underscores the continued relevance and activity within the DeFi space.

Best Crypto to Buy Now

Furthermore, stablecoins played a substantial role in the cryptocurrency market, with a total volume of $27.9 billion. This constitutes 84.25% of the total cryptocurrency market’s intraday trading volume. Thus highlighting the prevalence of stablecoins as a means of preserving value and facilitating transactions within the crypto ecosystem.

1. Fantom (FTM)

Fantom’s weekly chart shows a significant rebound from a crucial support zone, establishing an uptrend. FTM has been gaining momentum and increasing in value thanks to positive fundamental events and the broader market recovery. Therefore bolstering investor confidence and supporting bullish sentiment.

On the daily chart, FTM recently found support at its 2022 lows before experiencing an upward price movement. This uptrend has increased demand, placing it as the best crypto to buy now. However, it’s essential to note that FTM is still down approximately 65% from its peak in February 2023.

Moreover, technical analyst predicts the possibility of FTM experiencing a substantial increase of over 100%. Despite some challenges, there are positive developments in the Fantom ecosystem. One is the increased on-chain activity observed by Messari, an analytics platform.

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— Fantom Foundation (@FantomFDN) November 4, 2023

According to Messari’s findings, the average daily addition of new addresses on the Fantom network surged by 106% in the last quarter. In comparison, the average daily active addresses increased by a more modest 3% during the same period.

2. Sui (SUI)

Sui is preparing to launch a new Sui RPC 2.0 service, aiming to address several issues with the current RPC service. As such, users can access a more expressive API and service.

Currently, users can access a read-only snapshot of the beta version of Sui’s mainnet and testnet networks. This beta version is intended to serve as a development playground. Therefore, allowing developers to become acquainted with the forthcoming GraphQL RPC schema and service.

Sui’s price movement shows a bullish trend, surpassing the $0.4000 threshold following a significant intraday uptrend. As such, this upward momentum is promising for SUI coin investors, making Sui the best crypto to buy now.

Moreover, the market recently showed a bearish sentiment, causing a decline in price from the high of $0.4800. However, investors are now showing renewed interest in purchasing SUI coins, resulting in a price increase.

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— Sui (@SuiNetwork) November 5, 2023

A glance at the daily chart reveals a shift in momentum, as the bears are losing ground while the bulls are gaining control. The current price is hovering above $0.4600, indicating the likelihood of further gains in the coming days as investors seek to capitalize on this uptrend.

The Relative Strength Index (RSI) displays a more bullish stance, surpassing the 50 level. Hence signifying potential for further price appreciation as investors take advantage of the uptrend. Likewise, the Moving Average Convergence Divergence (MACD) also portrays bullish signals, with green candlesticks dominating the histogram.

3. 1inch Network (1INCH)

1inch, a cryptocurrency project, offers several features and partnerships contributing to its utility within the DeFi (Decentralized Finance) space. It is a versatile platform capable of altering protocol configurations and facilitating voting processes. A notable addition to its ecosystem is the cumulative Merkle Drop tool, which streamlines airdrop processes, reducing associated transaction fees.

Moreover, the project has established strategic collaborations with prominent entities like ARCx, ICHI, Ren, Vesper, and Opium. These partnerships have expanded the opportunities for users to participate in DeFi and have added value to the ecosystem.

From a technical analysis perspective, the project is exhibiting some exciting trends. The MACD indicator has displayed a consistent green histogram since the start of September. Thus indicating increased buying and selling activity. As such, this suggests a positive uptrend in the long term.

Based on this trend, it is conceivable that the price of 1inch’s native cryptocurrency (1INCH) may rise to a maximum of $0.506. This potential growth could attract more collaborations and adoption within the network.

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Updates and integrations:

🏆 #1inch total swap volume across 12 supported networks soared past $400B

📄 1inch monthly digest: October 2023 – https://t.co/wRbgy7YdHG

Events:

🇺🇸 On Oct 29, our solution architect Ilya Naryzhnyy @dreamerdh hosted the… pic.twitter.com/xu2WbJrCdv

— 1inch Network (@1inch) November 3, 2023

However, it’s important to consider potential risks. Factors such as financial crises or regulatory interventions could lead to a decline in the price of 1INCH, possibly down to $0.120. In a scenario with average buying and selling pressures, the price is anticipated to stabilize at around $0.313.

4. Flow (FLOW)

Flow (FLOW) is a blockchain platform that has garnered attention in the cryptocurrency market. The token’s price is pegged at $0.573622, boasting an intraday trading volume of $55,116,560. Flow currently holds the 68th position on CoinMarketCap, with a market capitalization of $594,386,783.

Moreover, the coin has a circulating supply of 1,036,200,000 FLOW coins, while its maximum supply is unavailable. Also, Flow has grown recently, with a notable 8.27% increase in the last 24 hours.

Furthermore, Flow stands out as a blockchain platform due to its unique approach to smart contracts. The platform aims to enhance accessibility and user-friendliness for developers. The project has also gained recognition for its significant growth since its inception.

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— Flow 🌊 (@flow_blockchain) October 31, 2023

Experts have expressed optimism about Flow, projecting a maximum price of approximately $2.44 as the broader crypto market recovers. In addition, the anticipated average price for FLOW Coin in 2023 is estimated to be $2.16. This has placed Flow as the best crypto to buy now.

However, it is essential to consider potential downside scenarios. In the event of a significant bearish trend in the broader cryptocurrency market, the price of Flow could dip to a minimum value of $1.87.

5. Bitcoin Minetrix (BTCMTX)

Is Bitcoin Minetrix the best cryptocurrency to buy now? Bitcoin Minetrix is a cloud mining platform that has introduced tokenization to address concerns related to third-party cloud mining scams. The project’s primary goal is to provide a secure and transparent method for individuals to engage in Bitcoin (BTC) mining in a decentralized manner.

The project has seen substantial participation, with over 400,000 BTCMTX tokens currently locked in staking. Notably, the current annual percentage yield (APY) is 103,225%. However, it is expected to decrease as more tokens are staked.

In tokenomics, Bitcoin Minetrix allocates 42.5% of the BTCMTX tokens to fund mining operations. In comparison, 35% is designated for marketing efforts and the growth of BTCMTX. An additional 15% is reserved for community rewards to recognize active participation in the project, and 7.5% is earmarked for BTCMTX staking rewards until the Bitcoin Minetrix cloud mining platform is developed.

The project has generated interest through an ongoing BTCMTX presale, raising over $3,370,459 by offering BTCMTX tokens at $0.011 per token. Out of the total token supply of 4 billion, 70% (2.8 billion BTCMTX) is available during the presale phase, and investors can acquire them using Ethereum (ETH) or Tether (USDT).

In addition, the minimum investment requirement is $10, making this opportunity accessible to a wide range of participants. Potential investors should consider taking advantage of this opportunity before price increases, with only a one-day window remaining for the current token pricing. Similarly, there is a two-day window left before the stage 5 presale ends.

Visit Bitcoin Minetrix.