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We cover some contenders for the best cryptocurrency to buy right now, potentially worth adding to your watchlist over the coming days.
Cryptocurrencies with solid fundamentals, growth potential, and positive market sentiment are prime choices for investment. Numerous altcoins, such as Cardano, Solana, and Polkadot, embody these traits, each with distinctive features and promising growth prospects. This article analyzes these tokens and identifies the factors driving their impressive surge in value.
Best Crypto to Buy Now
The native token of Polygon, MATIC, saw a modest uptick of 2.74%. EGLD is also trading at $58.39, showing a 2.66% increase over the last week. Moreover, EGLD has surged by an impressive 17.93% in the past 24 hours. In addition, Kaspa recently partnered with CryptoWallet.com, leading to the integration of KAS into the platform.
1. Polygon (MATIC)
Polygon stands out as a user-friendly platform for Ethereum scaling and infrastructure development. Its core component, the Polygon SDK, is a flexible framework supporting various applications.
By seamlessly integrating with Ethereum, Polygon extends its capabilities into a comprehensive multi-chain system comparable to other notable projects. This integration boosts Ethereum’s security and ecosystem while promoting interoperability among different blockchains.
Moreover, Polygon initially supported only Ethereum as its basechain. However, it intends to broaden its support to other base chains in response to community feedback and consensus.
Furthermore, MATIC’s recent activity saw a temporary decline in its token value, swiftly followed by a recovery spurred by the transfer of 9 million tokens to BNB. This resurgence underscores strong investor interest and optimism regarding Polygon’s growth prospects.
Polygon Miden reimagines blockchain design, enabling devs to create novel, high throughput, privacy-preserving dApps.
But building with new technology can be challenging – it takes a pioneer to explore new arenas.
Enter the first Miden Pioneer, @KeomProtocol, leveraging the… pic.twitter.com/gqOWgGm7sd
— Polygon | Aggregated (@0xPolygon) February 15, 2024
In addition, the token trades in the $0.640 to $0.983 range, with its price trend indicating a bullish trajectory. Also, the token has the potential for further upward movement if market sentiment remains favorable. In the past 24 hours, MATIC, Polygon’s native token, experienced a modest increase of 2.74%.
MATIC is trading above the 200-day simple moving average, and positive performance relative to its token sale price signifies its robust liquidity and market positioning. Moreover, the token’s availability on major exchanges like Binance contributes to its liquidity and accessibility for traders and investors.
2. MultiversX (EGLD)
MultiversX is a blockchain protocol utilizing sharding technology aiming to revolutionize transaction speeds within the digital landscape. Moreover, MultiversX is an ecosystem for the burgeoning new Internet spans various sectors, including finance, decentralized finance (DeFi), and the Internet of Things (IoT).
The protocol boasts a smart contracts execution platform capable of handling 15,000 transactions per second. It has a latency of six seconds and a transaction cost as low as $0.001. Its native token, EGLD, serves as a means of payment for network usage and facilitates transactions between users and validators.
The meeting place for the most ambitious #MultiversX builders.
AAA-style Metaverse game. No-Code DeFi dApps builder. Most engaging Web3 game on MultiversX. AI-driven analytics platform. And many more.
Last call for Demo Day investor registration: https://t.co/Se2erI84Fj https://t.co/q2sJxePuzZ
— MultiversX (@MultiversX) February 12, 2024
In addition, EGLD enables developers to deploy smart contracts and dApps on the platform. The token also grants holders governance rights to vote on network decisions. Furthermore, EGLD is trading at $58.39 and has witnessed a 2.66% increase over the past seven days.
Moreover, it is trading above its 200-day simple moving average. The token has outperformed 50% of the top 100 crypto assets in the past year. Analysts are cautiously optimistic about MultiversX’s potential, with a positive outlook for its performance by the end of February. However, sentiment remains neutral amidst a Fear & Greed Index reading of 72 (Greed).
3. Siacoin (SC)
Siacoin is the native utility token of the decentralized cloud storage platform Sia. The token has experienced significant growth recently. It has surged by an impressive 17.93% in 24 hours, trading above its 200-day simple moving average. This growth trend is further highlighted by 17 green days out of the last 30, constituting 57% of the observed timeframe.
Furthermore, Sia works as a decentralized marketplace for cloud storage. Users can securely lease their unused storage space with Siacoin as the payment currency. The platform aims to provide secure cloud storage at competitive rates compared to big players like Amazon and Google.
Moreover, data uploaded on Sia’s blockchain gets split across 30 encrypted hosts for security. At least 10 hosts are needed for data retrieval, with users paying hosts in Siacoin. Siacoin operates on a proof-of-work (PoW) consensus mechanism, similar to Bitcoin, relying on miners to add new blocks to the network and mint new coins.
🚀 Exciting News from Sia! 🌐
Our February 2024 edition of "The State of Sia" is out, marking another milestone in #decentralized #storage! Dive into the latest enhancements in hostd, renterd, & walletd, and get a sneak peek into the future of Sia. 🛠️💡https://t.co/ACjfghObi2
— Sia Foundation (@Sia__Foundation) February 14, 2024
This architecture enhances security against potential attacks requiring significant hardware and energy commitments. With a market cap reaching $766 million and a daily trading volume surpassing $250 million, Siacoin has outperformed 86% of the top 100 crypto assets. In addition, price prediction sentiment is bullish, while the Fear & Greed Index registers 72 (Greed).
Last year, Siacoin’s price increased by 202%, reflecting growing interest and confidence in the project. It currently holds the #8 position in the Proof-of-Work Coins sector and ranks #44 in the Layer 1 sector.
4. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix has unveiled a novel approach to cryptocurrency, allowing users to stake BTCMTX tokens for cloud mining credits. The platform aims to decentralize control and provide a secure mining experience for token holders.
Only 4 days left until Stage 26 of #BitcoinMinetrix wraps up! 📆
How does the halving event affect #Bitcoin miners? 💰🛠️ pic.twitter.com/9yPgjvTiW4
— Bitcoinminetrix (@bitcoinminetrix) February 16, 2024
Furthermore, the ongoing BTCMTX presale has successfully raised over $11,036,483, with tokens priced at $0.0135 each. Interested investors still have a chance to participate before the token’s price hike in three days.
The staking dashboard simplifies the mining process, which has traditionally been accessible only to affluent individuals and tech-savvy users. Participants can start earning BTC mining rewards by staking their BTCMTX tokens.
In addition, these rewards are issued in a non-transferable ERC20 token, which is then burned for mining rewards. The non-transferable nature of these credits enhances their security against hacks and theft, offering a dependable source of passive income. Although the dashboard is not operational, presale investors can leverage their purchases through the passive staking system.
5. Kaspa (KAS)
Kaspa is utilizing the GHOSTDAG protocol for its proof-of-work mechanism and has been making waves in the digital currency market. Unlike traditional blockchains, which discard parallel blocks, Kaspa’s protocol allows them to coexist, enhancing consensus and security. One notable aspect of Kaspa is its ability to maintain high block rates while ensuring security through proof-of-work validation.
Furthermore, the platform currently operates at one block per second; Kaspa aims to push its capabilities further, potentially reaching 10 or even 100 blocks per second. Kaspa’s independence from major exchanges like Binance or Coinbase sets it apart. This autonomy hints at untapped potential for the cryptocurrency’s price growth, as established market dynamics do not influence it.
Moreover, Kaspa has witnessed significant accumulation by large-scale investors, colloquially called “whales.” Recently, an unidentified wallet acquired a substantial 65 million $KAS tokens within just two days, indicating confidence in the project’s future.
On top of that, Kaspa recently partnered with CryptoWallet.com, integrating KAS into the platform. This integration streamlines various cryptocurrency operations for KAS holders, including buying, selling, storing, swapping, and spending digital assets in one convenient location. It also aims to enhance KAS accessibility and usability.
🎉New Wallet Integration for #Kaspa!$KAS is now available on @CryptoWalletcom!
"It's a revolutionary crypto neo-bank that aims to bring the same level of mass adoption as fiat. Buy, sell, store, swap and spend crypto all in one platform."Learn more: https://t.co/evoP6QjuRi… pic.twitter.com/i2U98mivKG
— Kaspa (@KaspaCurrency) February 5, 2024
In addition, KAS has surged significantly, trading at $0.1637, with a 15.81% intraday increase. Notably, it has outperformed 99% of other top 100 crypto assets in 1 year, reflecting its strong market performance. KAS is trading near its all-time high and above the 200-day simple moving average.
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