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The market is inching closer to an upward trend, and altcoins offer a great opportunity to capitalize on the bulls. However, selecting the ideal altcoin for your portfolio demands thorough research. Hence, Insidebitcoins eases the process by spotlighting a selection of top-performing altcoins that merit investor attention.
5 Best Altcoins to Invest in Right Now
As the market shifts towards a sustained green phase, particular tokens are attracting attention for their investment potential. Helium, Ronin, and Conflux are emerging as standout altcoins. These tokens are well-placed as portfolio contenders, showcasing distinctive attributes and promising market upsides.
Following today’s happenings, Gemini Trust Co announced on Saturday that Genesis, a crypto lender, has filed a motion in the U.S. Bankruptcy Court seeking approval to sell trust assets. This motion also requests authorization to monetize its holdings in two Grayscale Ethereum trusts, which offer investors exposure to cryptocurrency.
1. Helium (HNT)
Helium is actively surging in January, striving to reach the $8.00 mark. HNT experienced a bullish December 2023, driven by positive sentiments surrounding spot Bitcoin ETF approvals. Consequently, it resulted in an $800 million surge in HNT’s market capitalization since early December.
Despite facing a sharp decline alongside other altcoins in January, HNT traded at $5.6166 on January 3. Afterward, it surged by 32.6% to $7.4518 on January 12. However, it dropped by 18.2% to $6.0899 on January 22 before rebounding by 30.2% to $7.9302 on January 29.
Furthermore, HNT has been on a steady market rise, topping 82% of the top 100 coins with a 147% increase. Moreover, it has consistently traded above its 200-day simple moving average. In addition, it recorded 16 green days out of the last 30, signaling a positive trend.
1/ The first 2024 Hackathon is here! @HeliumFndn is excited to sponsor Solana Scribes, @Solana's first-ever content hackathon. ✍🏼 Helium Track contributors get rewarded from a $15K pool. https://t.co/8BuEfBnST6 pic.twitter.com/kMNFP8g1j6
— Helium🎈 (@helium) February 2, 2024
Helium aims to capitalize on the expected bull-run market in the crypto market in 2024. Similarly, HNT’s trading activity is expected to rise in Q2 2024 following spot Bitcoin ETF approvals. This price increase could propel HNT’s price up by 18.0% to $6.4952. With robust fundamentals and a dedicated crypto community, Helium has the potential to achieve significant growth. Also, collaborations with other networks could further enhance HNT’s price, potentially surpassing $17.56 by 2024.
2. Conflux (CFX)
CFX’s recent collaboration with BlockBooster caused a surge in interest from investors. On that note, Conflux is pressing forward with another significant development in its network. On January 30, 2024, Conflux (CFX) announced its plan to create a Bitcoin L2 space within its network. As with the former partnership, this news sparks excitement within the Conflux community.
Furthermore, this announcement arrives at a crucial juncture for Conflux, with its recent price movements drawing attention. Starting the year at $0.193, CFX saw a 4.0% increase to $0.2008 by January 17. However, this rise was followed by a 6.5% dip to $0.1876 on January 25. Nonetheless, it rebounded 25.2% to $0.2363 by January 29.
The introduction of Conflux’s Bitcoin L2 Space aims to revolutionize the network by enabling the collection of gas fees in BTC. Hence, this move will drive demand for Conflux’s services and trading activity for CFX. Therefore, analysts predict a potential 44.0% increase in CFX’s value to $0.3403, propelling CFX to the top ranks of cryptocurrencies.
🚀 NFTs in China, on #Conflux we buidl!
🎤From breaking Kuaishou livestream records to being the first Chinese singer with an exclusive metaverse space, #JayChou is changing the game for the music industry! pic.twitter.com/KdFm6AqKec
— Conflux Network Official (@Conflux_Network) February 1, 2024
Meanwhile, CFX’s year-to-date price increase reached 212%, outstripping 88% of the top 100 coins. Moreover, the coin is above a 200-day simple moving average and has 16/30 gree days, signaling a positive trend. Moreover, its high liquidity, based on market cap, further bolsters its position in the crypto space.
3. Huobi Token (HT)
Huobi Token shows promising signs despite the market’s outlook. With a 6.01% intraday surge, HT hit $2.97, marking a positive move from its recent low of $3.19. Moreover, investors are bullish on HT. Also, the Fear & Greed is at 60, keeping it above a 200-day simple moving average.
Transitioning to its market performance, Huobi Token ranks 11th in the Exchange Tokens sector. Moreover, it is placed 31st in Ethereum (ERC20) Tokens and 47th in the Layer 1 sector by market capitalization. Based on this, HT continues to demonstrate resilience in the market.
🚀Fun Fact Alert!🚀$HTX's debut on #HTX has been a huge success, boasting a 24HRS volume of 65 MILLION $USDT!
Big thanks for the incredible support!
Trade it here on https://t.co/K7SVDpBTiU pic.twitter.com/WoMKlcqlrT
— HTX (@HTX_Global) February 4, 2024
Analyzing key indicators, the 14-day Relative Strength Index (RSI) is 59.47. Hence, this signals a neutral stance and potential sideways movement in the near term. In addition, HT witnessed 16 green days out of the last 30, which is 53% positive trading days. Also, Huobi Token’s price volatility remains relatively low, with a 30-day volatility of 11%.
4. eTukTuk (TUK)
The eTukTuk project is poised to transform transportation infrastructure in developing nations actively. By integrating electric vehicles and charging stations and offering blockchain technology, eTukTuk actively aims to change how people travel in these regions.
Furthermore, The $TUK token, which powers the eTukTuk ecosystem, has ignited a revolution in developing economies by providing affordable transportation solutions. It actively serves as a payment and reward currency within the ecosystem, making transactions easier and rewarding participation.
eTukTuk is gathering the market’s interest, with the presale of $TUK tokens currently underway. It has raised $808,298.39 out of the targeted $844,058. Each $TUK token is priced at $0.02625 during the presale period, allowing early investors to acquire tokens at a discounted rate.
"eTukTuk is one of the most creatively revolutionary projects to enter the EV sector in a long while. Although there are many EV projects, few align with the reality of people living in developing economies." – @CoinGapeMedia
Read more here:https://t.co/ZfqdSLkbG7
— eTukTuk (@eTukTukio) February 6, 2024
Moreover, investors participating in the presale also have the option to buy and stake $TUK tokens, potentially earning annual rewards of up to 273%. This buy-and-stake mechanism actively encourages long-term investment in the project. As the presale continues, public investors can acquire $TUK tokens before officially being listed on exchanges, capitalizing on their future growth..
5. Ronin (RON)
Recent analysis indicates a strong uptrend in the Ronin crypto since late November 2023, with its price skyrocketing from $0.8000 to over $3.000. This surge forms an ascending wedge pattern, suggesting a potential continuation of the upward momentum. After bouncing off support levels around $0.8000 and $1.7500, Ronin has shown notable bullishness. As such, it has broken through resistance levels, indicating the possibility of achieving new highs.
Technical indicators such as the Supertrend and major 20 and 50-day EMAs highlight buyer strength, further supporting the bullish outlook. Additionally, the MACD and RSI show positive signs. On the daily chart, Ronin consistently displays bullish signals, with significant growth over the past week, month, and quarter.
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— Ronin (@Ronin_Network) January 30, 2024
Furthermore, if demand remains strong, Ronin’s price could continue to rise towards $5.00, with resistance at $3.5000. However, failure to maintain above $2.5000 could lead to further declines. Ronin’s current price movement and technical indicators suggest an active bullish trend. In addition, it projects the potential for further gains as it demonstrates strength in the market.
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