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Altcoins are drawing significant attention, with the Bitcoin halving coming in 62 days. Investors are optimistic that the halving will positively affect prices and sentiment, placing various tokens on an upward trajectory.
Moreover, altcoins provide traders who cannot afford Bitcoin with convenient opportunities to diversify their portfolios. With this in mind, this article consolidates a selection of the top altcoins currently worth considering for investment.
7 Best Altcoins to Invest in Right Now
Bitcoin has surged 22% this year, reaching $52,005. Due to this rise, it surpassed the $1 trillion market value threshold for the first time since its peak in late 2021. Altcoins are also in the mix as Filecoin, Conflux, and Arweave are gaining attention as promising candidates for investment. These tokens display considerable potential for future market expansion.
1. Arweave (AR)
Expectations are building around Arweave ahead of the “aoTheComputer” launch on February 27th. This development is set to introduce a hyperparallel computer living inside Arweave. Plus, it brings PoS computation that allows several processes to execute in parallel, offering temporary storage. All this is available on Arweave’s Testnet, which is already live.
With the positive air around Arweave, investors are adding the token to their portfolio, as evidenced by a Greed score of 72. Moreover, AR is trading near its cycle high of 15.47 and is above the 200-day SMA. The current price range of Arweave seems to attract the interest of many traders. As a result, AR is projected to hit $13.18 by 2024, especially with significant collaboration with financial institutions.
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UDL is now the first open license that allows creators to license their work for use in generative AI! You can even trade AI license rights as atomic assets on Arweave. 🧵👇 pic.twitter.com/ShRp9GuxXR
— Forward Research (@fwdresearch) February 14, 2024
In addition to this, AR’s potential to outperform the current price trend and set new highs is evident. Hence, it shows promising potential with a minimum projected price of $11.38 in 2024. Meanwhile, analysts suggest Arweave has the potential to reach an average price of $11.73.
2. Filecoin (FIL)
Filecoin partnered with Solana, marking a positive step for two big players in the crypto space. This partnership aims to revolutionize data storage and access by providing decentralized solutions. Moreover, it addresses concerns about the security, privacy, and control of centralized storage systems.
FIL has risen by 16.99% in the last intraday trading session, hitting $7.64. This rally is attributed to its successful integration with the thriving Solana ecosystem. On this note, this surge indicates positive sentiment among investors. Thus, it presents a window for investors considering investing in Filecoin. This is evidenced by its current trading position of 53.41% above the 200-day SMA of $4.95.
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— Filecoin (@Filecoin) February 19, 2024
Moreover, Filecoin has demonstrated consistent positive performance. FIL has shown green candles for 18 out of the last 30 days. This positive move indicates days where the daily close price exceeded the daily open price. This trend, representing 60% of the observed period, further reinforces investor confidence in Filecoin’s potential for growth.
3. Conflux (CFX)
Conflux Network recently improved its Bitcoin Layer2 solution, utilizing Meson’s cross-chain support. This collaboration aims to streamline BTC cross-chain swaps between Conflux’s Bitcoin L2 and other blockchain networks. The goal is to strengthen the adoption of BTC assets. Similarly, it plans to promote a more interconnected BitcoinLayer2 ecosystem.
Meanwhile, this news further empowers CFX’s bullish market sentiment. To build on that, the Fear/Greed Index stands at 72, reflecting market activity among investors. Over the past year, Conflux Network has demonstrated strong performance. Its price surged by 22%, bettering the performance of 52% of the top 100 tokens. Moreover, the coin trades above its 200-day simple moving average, signifying a positive trend.
🤝 Conflux forms a strategic partnership with @RAK_DAO, marking a new era of digital asset development and blockchain innovation in the Middle East.https://t.co/IgxYP1C7p7
🔍 In a nutshell:
– Conflux and RAK DAO join forces through a strategic MOU.
– The Government of Ras Al… pic.twitter.com/IE8gDuBLn8— Conflux Network Official (@Conflux_Network) February 13, 2024
In the last 30 days, Conflux Network has experienced 16 green days, accounting for 53% of the period. Moreover, the asset boasts high liquidity based on its market capitalization. With this prevailing positive trend in price movement, investors closely monitor CFX.
4. Fetch.ai (FET)
Deutsche Telekom has officially partnered with the Fetch.ai Foundation to advance AI. This marks a turning point for both entities. The Fetch.ai Foundation promotes cutting-edge AI and Web3 technologies on the Fetch.ai network. As such, this collaboration aligns with their mission to create an open AI platform accessible to many users.
Furthermore, the Fetch.ai partnership has directed investors’ attention toward the coin. On this note, FET’s price today has hit $ 0.944614, marking a 5.01% intraday rally. Moreover, Fetch.ai is riding the bullish sentiment as the Altcoin season draws closer. Hence, investors are actively updating their portfolios with FET, evident from the Greed score, which is currently pegged at 72.
It's a monumental day!
Deutsche Telekom (@Telekom_MMS) has joined the Fetch Foundation as a corporate partner, alongside serving as a #validator to the network through their subsidiary, @mms_Blockchain.
Read more below 👇https://t.co/v58DtHPj4J— Fetch.ai (@Fetch_ai) February 13, 2024
Furthermore, technical analysis reveals that FET trades above its 200-day SMA, indicating an upward trend. Additionally, FET has recorded 19/30 green days, 63% of the trading period. This consistent positive performance and high liquidity, based on its market capitalization, emphasizes FET’s attractiveness to investors.
5. Bitcoin Minetrix (BTCMTX)
The Bitcoin Minetrix tokenized cloud mining platform has emerged as a promising solution. It aims to transform mining through tokenizing cloud mining. The goal is to address the prevalent issue of third-party cloud mining scams. By extension, Bitcoin Minetrix seeks to offer a secure and transparent alternative for individuals seeking to mine Bitcoin (BTC).
Moreover, cloud mining mitigates the challenges of hardware obsolescence. Hence, individuals are relieved of the responsibility to upgrade ageing mining hardware, which often presents hurdles in resale scenarios.
Just 1 more day until Stage 26 of #BitcoinMinetrix comes to an end!
What role do mining nodes play in the #Bitcoin network? ⛏️ pic.twitter.com/KikhErtKFv
— Bitcoinminetrix (@bitcoinminetrix) February 19, 2024
Meanwhile, the Bitcoin Minetrix Presale has garnered significant attention. On this note, it has raised $11,218,959 with each Bitcoin Minetrix token (BTCMTX) valued at $0.0135. With just one day remaining until the conclusion of Stage 26, investors have a prime opportunity to capitalize on the current price.
Visit Bitcoin Minetrix Presale
6. Axelar (AXL)
Investors eagerly await news of the latest partnership in the blockchain sphere. Axelar has delivered, joining forces with Function X to introduce cross-chain interoperability to the f(x)Core blockchain. This integration establishes direct routes between the two chains, bypassing the need to go through the Cosmos Hub.
Axelar’s platform boasts seamless integration across over 50 blockchain networks, offering decentralized security and unrestricted programmability. Moreover, major endorsements, including recognition from industry giants like Microsoft, have solidified its reputation. This positions Axelar as a crucial resource for merging off-chain infrastructures with on-chain networks.
Bedrock is a pioneering multichain LRT for restaking uniETH across 6 chains.
The power of #InterchainTokens turns @Bedrock_DeFi users into Interchain enjoyooors, basking in the multiple rewards of native restaking. pic.twitter.com/2oLcLE1KGn
— Axelar Network (@axelarnetwork) February 19, 2024
In light of this strategic move, Axelar has the potential to propel itself to new heights. Especially considering its robust fundamentals and community support. Therefore, analysts predict that if Axelar announces further collaborations with other networks, it could surpass the $1.73 mark by 2024.
7. WOO (WOO)
WOO Network is emerging as a promising portfolio contender in the coming Altcoin season. The coin’s sentiment is bullish, alongside a Fear & Greed Index of 72, indicating a leaning towards market activity. Today, the WOO Network price is $0.439958, marking a 2.11% intraday increase.
Meanwhile, analysis reveals WOO’s strong performance metrics. This includes outperforming 67% of the top 100 crypto assets over one year. Additionally, it’s trading above the 200-day simple moving average and boasts positive performance relative to its token sale price. Moreover, it maintains high liquidity based on its market cap.
"wen $STRK?"$STRK (@Starknet) will be arriving on the WOO X spot market today.
Trading is expected to begin at 13:00 UTC.
▶️ Stay tuned for more updates on bonuses exclusive to WOO X 👀 pic.twitter.com/GHciGJnJ8I
— WOO X (@_WOO_X) February 20, 2024
WOO is positioned for potential growth with relevant collaborations and a solid community. Plus, prospects for collaborations with other networks could propel the WOO Coin to surpass $1.020 by 2024. If the bulls prevail, the average price of the WOO is projected to hover around $0.924 by the same year.
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