Best Crypto to Buy Now December 12 - Flare, Optimism, VeChain

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Each day, we review some picks for the best cryptos to buy now, based on the latest market movements, blockchain news, and trending narratives.

The total value of all cryptocurrencies is now at $1.60 trillion, showing a small drop of -0.38% in the last day. The trading activity in the past 24 hours hit $248.42 billion, a slight 0.94%crypto world increase.

Best Crypto to Buy Now

The decentralized finance (DeFi) sector contributed $9.49 billion, 11.97% of the overall market activity. Meanwhile, stablecoins took the lion’s share, with a volume of $72.85 billion, representing a substantial 91.92% of the total 24-hour crypto market volume.

Bitcoin’s dominance currently stands at 51.87%, showing a slight decrease of 0.58% over the day. This metric is crucial to Bitcoin’s relative influence in the broader cryptocurrency landscape. These market dynamics highlight the increasing importance of stablecoins, dominating the trading activity. The rise in DeFi volume further underscores the changing landscape of decentralized financial platforms.

1. VeChain (VET)

VeChain has recently introduced a new frontend library, specifically crafted to simplify the development of decentralized applications (DApps). This toolkit is a comprehensive solution with features to enhance the overall VeChain development experience. This release advances blockchain application development on the platform. It offers accessible, versatile, and powerful tools with a strong focus on supporting developers.

Over the past year, VeChain indicated a substantial 57% increase in price, outperforming 56% of the top 100 crypto assets. Additionally, VeChain is currently trading above the 200-day simple moving average, indicating a level of stability in its market performance.

The sentiment around VeChain’s price prediction is bullish when considering market indicators, with a Fear & Greed Index of 67 (Greed). The project maintains a circulating supply of 72.71 billion VET out of a maximum collection of 86.71 billion VET.

Our latest tech update is a big one!

We've added a ton of new features to the #vechain ecosystem over the past couple of months, from VeWorld and VORJ updates to the launch of a brand new dApp kit purpose-built to empower developers.

Read up on progress from our groundbreaking… pic.twitter.com/yLEVCPwfFf

— vechain (@vechainofficial) December 11, 2023

Moreover, statistics include 17 green days in the last 30 days, constituting a 57% positive trend. In the Layer 1 sector, VET ranks #24 based on market capitalization. The project is currently trading near its cycle high, and its market cap-driven high liquidity adds to its profile as a well-positioned asset.

2. Oasis Network (ROSE)

Oasis Network has recently announced an extension of its support for Ocean Protocol’s Predictoor Data Farming (DF) incentives program. The extension will run until January 4th, 2023. The program aims to accelerate the growth and development of Predictoor data markets.

Hence, it will provide users who offer AI-powered predictions with a reward pool exceeding USD 110,000. As part of this initiative, the Oasis Protocol Foundation allocated 400,000 ROSE for the Ocean data farming incentive program. Participants, referred to as “predictoors,” contribute predictions to Predictoor contracts and earn rewards based on the accuracy of their predictions.

This news coincides with an upward trend for ROSE as it is trading above the 200-day simple moving average. It has experienced 15 green days in the last 30 days (50%) and is demonstrating high liquidity based on its market capitalization.

Moreover, the circulating supply of ROSE stands at 6.71 billion out of a maximum supply of 10 billion. Notably, the yearly supply inflation rate is 17.25%, creating 987.88 million ROSE in the last year.

Big news: We’re extending our support of @OceanProtocol’s Predictoor Data Farming (DF) incentives program!

Rewards supported by Oasis will extend to JAN 4, 2023

Predictoor DF rewards users who make AI-powered predictions with over $110K USD in monthly rewards!

Learn more: 🧵 pic.twitter.com/MhIkO9u4DZ

— Oasis (@OasisProtocol) December 7, 2023

Oasis Network holds the 16th position in the Proof-of-Stake Coins sector and 5th in the AI Crypto sector. Over the past year, the project has experienced an 88% increase in price, outperforming 63% of the top 100 crypto assets during this period.

3. Flare (FLR)

Flare has recently onboarded key infrastructure providers to serve as validators and data providers for its native oracles. This includes Ankr, Figment, Restake, and NorthStake. This strategic move positions Flare as the first innovative contract platform where institutional validators play a dual role. Hence, it contributes to validation and decentralized data feeds for network builders.

Flare aims to provide developers with fully decentralized access to a diverse range of data on a large scale, all at a minimal cost. This initiative is designed to bolster the platform’s capabilities and foster a robust ecosystem for developers.

This collaboration has been greeted positively by the community. Flare’s circulating supply stands at 14.75 billion FLR. Over the past 30 days, the platform has seen positive performance for 16 consecutive days, marking a substantial 53% increase. The liquidity of FLR, indicated by its market capitalization, appears noteworthy.

#FAssets Beta is now live on Flare’s Coston testnet – a milestone for $800B of crypto assets.

The system will allow tokens like BTC, XRP & DOGE to be used trustlessly with smart contracts on #Flare – earning yield in DeFi dapps and bridging to other chains.… pic.twitter.com/IkYg9THsEs

— Flare ☀️ (@FlareNetworks) November 30, 2023

Currently, the sentiment towards Flare’s price prediction is bullish, reflecting optimism in the market. The Fear & Greed Index stands at 67, indicating a state of greed among market participants.

4. Meme Kombat (MK)

Meme Kombat has significantly impacted the crypto scene, making notable strides among the best crypto to buy now. The ongoing presale has raised $2,853,645.49 out of a $3,500,000.00 goal, garnering early interest in the project. Notably, MK stands out for its gaming platform designed for enthusiasts.

📣 Major Update 📣

The Meme Kombat Staking Dashboard is officially live and ready to be used by you!

Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G

— Meme Kombat (@Meme_Kombat) November 9, 2023

The project combines staking and betting, offering users diverse opportunities to engage with the platform and earn rewards. Currently, 50% of the MK token supply is available in the presale at a rate of $0.235 per token, with a capped limit of $10 million. A noteworthy detail is the upcoming price increase to $0.246 in just two days.

Moreover, Meme Kombat has strategic plans to list its tokens on a decentralized exchange. To facilitate faster trading, the project has allocated 10% of the total supply to provide liquidity. As outlined in the Meme Kombat whitepaper, this strategy underscores the project’s dedication to enabling decentralized trading of MK tokens.

5. Optimism (OP)

Optimism showcases several significant indicators that position it as the best cryptocurrency to buy now. It is currently ranked 7th in the Layer 2 sector, showing promising signs worth noting. Over the past year, its price has increased by 132%, outperforming 72% of other top 100 cryptocurrencies.

Moreover, OP hit its highest price of $3.26 on February 24, 2023, and its lowest price was $0.401121 on June 18, 2022. Since its all-time high, the lowest it dipped was $0.896377 (cycle low), and the highest since then was $2.50 (cycle high). Right now, the sentiment around Optimism’s future price is positive, and the Fear & Greed Index stands at 67.

Hence, this indicates a state of greed in the market. It has 214.75 million OP in circulation out of a maximum supply of 4.29 billion OP. Technically, Optimism is trading above its 200-day simple moving average, which is a good sign of a positive trend. Also, it has high liquidity based on its market cap.