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‘What is the best crypto to buy right now’ is a common question asked by investors – in this article, we explore a range of tokens to watch.
Bitcoin set the trend for cryptocurrencies, inspiring many others built on decentralized networks. Several alternative cryptocurrencies have endured price fluctuations and are worth exploring. This article showcases some of these alternatives, highlighting the reasons behind their uptrends and success in the market.
Best Crypto to Buy Now
The Pyth Network has recently launched the second phase of its retrospective token airdrop program. Additionally, MK generated $8,394,769.10 in its presale, attracting attention from potential investors. Furthermore, NEAR Protocol collaborated with Meta Pool and has created the Enterprise Node Operators (ENO) program, empowering top-tier companies to contribute to NEAR’s growth, security, and decentralization.
Meanwhile, CleanSpark‘s recent announcement of its intention to acquire four mining facilities has fueled further gains in its market value.
1. Smog (SMOG)
SMOG token aims to establish itself as a prominent player in the crypto market with its slogan, “No meme coin can survive the fiery flames of SMOG.” According to its whitepaper, SMOG claims to be “forged in the celestial forge of Jupiter itself,” hinting at its astronomical aspirations. However, its success ultimately hinges on its ability to deliver tangible returns to investors.
Furthermore, the token positions itself as “the most rewarding token on Solana” and seeks to attract investors seeking substantial gains. Its tokenomics plan includes allocations for marketing, airdrop rewards, CEX launches, and liquidity provision.
Participation in Smog’s ecosystem requires users to purchase and hold SMOG tokens, granting them access to potential airdrops and community bounties. The specifics of these rewards remain undisclosed, leaving investors eager for more information.
The project’s roadmap outlines ambitious milestones, including introducing staking features and plans for future airdrop initiatives. Additionally, the target of achieving 10,000+ ‘Loyal Chosen’ members highlights its commitment to building a dedicated community.
To participate in SMOG’s airdrop campaign, investors must utilize a Solana-compatible wallet and engage in token swaps via designated platforms. Engaging in community tasks may enhance one’s chances of selection for additional rewards.
However, investors should exercise caution when considering SMOG due to its untested value proposition. While the allure of potential airdrops may be enticing, it’s essential to approach newly launched crypto assets with skepticism until they demonstrate a proven track record.
2. Pyth Network (PYTH)
The Pyth Network leads as a top-tier first-party oracle network in the blockchain sphere, experiencing impressive growth and adoption. It delivers real-time market data to financial dApps on over 40 blockchains. It offers 380+ low-latency price feeds across various asset classes like cryptocurrencies, equities, ETFs, FX pairs, and commodities.
Furthermore, the Pyth Network sources price data collectively to provide accurate information for smart contracts. This information comprises major exchanges, market makers, and financial service providers. Over 250 applications have utilized Pyth, contributing to a significant trading volume of $100 billion.
Recently, Pyth Network initiated the second phase of its retrospective token airdrop program, targeting 167 decentralized applications integrated with the Oracle network. Eligible dApps rely on Pyth’s price data for core operations such as transactions and asset valuation. The initiative involves distributing 100 million PYTH governance tokens, valued at approximately $47 million, among qualifying dApps.
Building the future of #DeFi 🔮 pic.twitter.com/SyTRR36Hng
— Pyth Network 🔮 (@PythNetwork) February 7, 2024
In addition, this initiative marked a milestone as the largest cross-chain airdrop at the time. Over 51,000 users have claimed over 163 million PYTH tokens, accounting for 65% of the total airdrop. PYTH is trading at $0.483, reflecting a 2.78% increase over the past 24 hours. Market sentiment is bullish, with the Fear & Greed Index indicating a value of 66 (Greed).
3. Avalanche (AVAX)
Avalanche aims to revolutionize decentralized applications and custom blockchain networks. It processes up to 6,500 transactions per second without compromising scalability, potentially challenging Ethereum’s dominance. Furthermore, the project addresses the blockchain trilemma, which suggests that achieving scalability and decentralization is difficult.
However, this often results in high gas fees on platforms like Ethereum. Avalanche seeks to overcome this challenge by offering higher transaction throughput while maintaining decentralization. Recent data indicates a surge in user adoption and network activity for Avalanche, with a 7.50% increase in users.
GMX Avalanche Rush continues with $350K in incentives for DeltaPrime, supporting the growth of its GMX V2-based products available on Avalanche 👇 https://t.co/TmlYtRc6sP
— Avalanche 🔺 (@avax) February 7, 2024
Despite this, sentiment regarding Avalanche’s price prediction remains neutral. Last year, AVAX experienced a significant 72% price increase, outperforming 73% of the top 100 crypto assets. It currently holds the fourth position in the Proof-of-Stake Coins sector.
Furthermore, AVAX ranks 1st in the Avalanche Network sector and 7th in the Layer 1 sector. However, potential investors should consider market sentiment and conduct thorough research before making investment decisions.
4. Meme Kombat (MK)
Meme Kombat is a blockchain-based project that merges memes with competitive gaming using Ethereum’s decentralized network. The project introduces the Meme Kombat Token ($MK) as its central currency for transactions within its gaming ecosystem. With an emphasis on utility, Meme Kombat aims to create an interactive platform for players, stakeholders, and enthusiasts.
GM memers!
Beta testing is going well and we are getting some valuable feedback from our testers🤝 pic.twitter.com/HuPOKIEkQQ
— Meme Kombat (@Meme_Kombat) February 8, 2024
Having raised $8,394,769.10 in its presale, Meme Kombat generates interest among potential investors. This funding is intended to support the project’s goal of enabling seamless and decentralized trading of MK tokens. The whitepaper outlines the project’s commitment to decentralization and emphasizes its utility-driven approach, making it appealing to investors and users.
Beta testing is underway, allowing users to test the software and report any issues or bugs. This testing phase is crucial for refining the platform before its final release. Overall, Meme Kombat presents an innovative concept within cryptocurrency, blending memes and gaming with blockchain technology. Its progress in fundraising and beta testing indicates potential for further development and adoption in the future.
5. NEAR Protocol (NEAR)
NEAR Protocol is a community-driven cloud computing platform tackling common blockchain issues. Its collaboration with Meta Pool birthed the Enterprise Node Operators (ENO) program, empowering top-tier companies to enhance NEAR’s growth, security, and decentralization.
The ENO program aims to expand NEAR’s institutional network by partnering with enterprise-grade companies. These partners are vital in bringing new members into the NEAR community and promoting collaboration and connectivity. NEAR Protocol simplifies blockchain challenges like slow transactions and interoperability problems.
Furthermore, it achieves this with user-friendly addresses and easy app onboarding, making development smoother. Developers benefit from modular tools for quick project setups, including token contracts and NFTs.
Moreover, NEAR Protocol saw an 8.46% price hike in the last 24 hours. Its highest price hit $20.42 on January 16, 2022, while the lowest dipped to $0.526680 on November 4, 2020. Despite ups and downs, NEAR reached $4.61 since its last low.
Institutions are coming (but for real this time).
With backing from the @NEARFoundation, @meta_pool launch the Enterprise Node Operators Program 🎉
The program aims to onboard top-tier Institutions and companies into the NEAR Ecosystem.https://t.co/z0gAFtfGSH pic.twitter.com/bPGGRTzMCx
— NEAR Protocol (@NEARProtocol) February 7, 2024
Sentiment analysis suggests positivity around NEAR Protocol, with a Fear & Greed Index score of 66 (Greed). In addition, the token showed a steady 8% price increase last year, outperforming half of the top 100 crypto assets. With high liquidity and availability on major exchanges like Binance, NEAR Protocol remains an outstanding cryptocurrency.
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