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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.
Altcoins are capitalizing on the bullish momentum of March, seizing the opportunity presented by the surging crypto market. With each passing day, their values are ascending rapidly, propelling investors to lucrative returns and amplifying the excitement surrounding their potential. As the crypto wave continues to crest, altcoins are firmly positioned to deliver significant gains.
Best Crypto to Buy Now
Following a turbulent 2022 with token prices dropping, the crypto market has bounced back in the last 14 months. However, it’s no surprise to witness a resurgence in some tokens. XRP has shown resilience despite its subdued performance. AVAX has exhibited bullish trends in weekly and monthly price charts, boasting gains of 33.92% and 44.79%, respectively. Meanwhile, Litecoin is currently trading at $88.64, reflecting a modest seven-day increase of 23.54%.
1. XRP (XRP)
XRP has demonstrated resilience despite its relatively subdued performance amidst the current bullish trend in the crypto market. Nonetheless, there was a spike in activity last week, marked by a significant surge in trading volume, which escalated by over 80%. In early March, Ripple, the company behind XRP, unlocked 1 billion XRP tokens.
Moreover, 200 million were immediately designated for sale, and the remaining 800 million were placed in escrow until mid-2027. However, Ripple’s token sales have escalated. By March 13, 40 million XRP tokens had been sold shortly after the initial release.
As of the latest data, XRP is priced at $0.6153. The sentiment towards XRP’s price prediction is currently neutral. Meanwhile, the Fear & Greed Index stands at 81, indicating extreme greed in the market sentiment. Furthermore, XRP has seen a price increase of 65% over the past year.
Today, more than 60% of people worldwide send and receive cashless payments.
As the world goes cashless, learn how blockchain and digital assets are critical components to unlocking a more efficient and inclusive financial system. https://t.co/UWcJdKeAOt
— Ripple (@Ripple) March 14, 2024
The token is currently trading above its 200-day simple moving average. XRP boasts high liquidity based on its market capitalization. It has also experienced 17 green days out of the last 30, constituting 57% of the trading period.
2. Smog (SMOG)
Smog, known for its dragon-themed crypto airdrops, experienced a notable surge of 10.72% in 24 hours on Tuesday. This surge sparked widespread attention within the Solana community. The meme community quickly embraced the trend, propelling Smog Token’s value by an astonishing 600% in less than a month.
Staying alive in hot temperatures is a skill possessed by few 🔥#SMOG, on the other hand, excels in precisely that art 🎭
No fire can burn a $SMOG #Dragon! 🐲
— SMOG (@SMOGToken) March 6, 2024
Despite this rapid growth, Smog Token’s market cap stands at $231 million, relatively modest compared to its higher-cap competitors like Pepe, Bonk, and Dogwifhat. The buzz surrounding Smog Token stems from its viral dragon-themed crypto airdrops hosted on Zealy. Originally launched on the Solana blockchain, Smog Token has expanded its reach to the Ethereum blockchain, aiming to establish a multichain infrastructure.
Participation in the ongoing crypto-airdrop campaign entails purchasing and holding Smog Tokens to accumulate airdrop points, increasing the likelihood of winning rewards. Additionally, engaging in the SMOG quests on Zealy provides participants with another avenue to enhance their chances of success and accrue additional airdrop points.
The current SMOG Airdrop is scheduled to conclude on April 3rd. In addition to its meme coin appeal, Smog Token recently introduced a staking protocol offering up to 42% APY returns. Moreover, Investors can grow their token holdings through staking, benefiting from long-term ownership.
3. Avalanche (AVAX)
Avalanche is a blockchain platform for decentralized applications and tailored blockchain networks. It aims to excel in transaction speed and scalability and boasts a capacity of up to 6,500 transactions per second. Compared to its competitors, such as Solana and Ethereum, Avalanche stands out for its speed, scalability, and unique features.
Furthermore, its ongoing efforts to enhance interoperability with Ethereum through bridge development contribute to its appeal in the crypto space. Moreover, AVAX has shown bullish trends in weekly and monthly price charts, with gains of 33.92% and 44.79%, respectively. The token experienced a price spike from $40 to $60.66 within a week.
Last year, AVAX saw a remarkable price surge, increasing by 246%. As a result, it outperformed 78% of the top 100 crypto assets. With 15 out of the last 30 days being marked by price gains, AVAX demonstrates a favorable trend. Additionally, its high liquidity, as reflected in its market capitalization, adds to its attractiveness to investors.
Fast, secure and interconnected blockchains that seamlessly communicate with each other, all made possible by the release of Teleporter on Avalanche!@meeshtian, Technical Product Manager, and @Michael_Kaplan1, Engineering Manager, joined us on Spaces to discuss how it works,… pic.twitter.com/NUaXKQ6KsF
— Avalanche 🔺 (@avax) March 15, 2024
Technical indicators for Avalanche are currently bullish, suggesting further upward price movements. Analysts predict a potential 30.32% increase in price. They project AVAX to reach $54.19 soon.
4. Litecoin (LTC)
Litecoin has recently increased its price, climbing from $68 to briefly surpassing the $100 mark before retracing to $95. Despite this temporary setback, investors in Litecoin are demonstrating resilience and patience amidst the current bull run. Long-term holders, commonly known as Hodlers, who have held onto their assets for over a year, hold most of Litecoin’s supply.
This signals a strong belief in its potential for long-term growth. Additionally, Litecoin is on the verge of a significant network upgrade that could impact the price of its token. The upcoming Litecoin Core v0.21.3 upgrade, as announced by Litecoin, will introduce features such as Partially Signed Bitcoin Transactions (PSBTs).
Furthermore, this technology is being adapted to accommodate components of MimbleWimble Extension Block (MWEB) transactions, designed to enhance Litecoin’s privacy and security. In the short term, implementing PSBTs and the impending support for MWEB could influence Litecoin’s price. However, the precise extent of this effect remains uncertain.
'Litecoin $LTC Dusts BTC, ETH and DOGE as Payment Protocol' – @Utoday_en https://t.co/gsKWfADcpq
— Litecoin (@litecoin) March 13, 2024
Notably, Litecoin is currently trading above its 200-day simple moving average. The token also experienced 17 positive trading days out of the last 30, suggesting favorable market conditions. With its substantial market capitalization, Litecoin maintains high liquidity, contributing to its attractiveness for traders and investors.
As of the latest data, Litecoin is trading at $85.64, reflecting a modest 23.54% monthly increase. The successful integration of PSBTs and MWEB support, coupled with ongoing market dynamics, will likely shape Litecoin’s trajectory in the cryptocurrency market.
5. Injective (INJ)
Injective announced a collaboration with AltLayer to pioneer a novel restaking security framework tailored for on-chain inEVM applications. This groundbreaking initiative aims to harness the security prowess of Injective and the broader Ethereum ecosystem, which oversees assets worth over $400 billion. This integration marks a significant stride towards aligning inEVM more closely with Ethereum and Injective, merging two dynamic Layer 1 (L1) ecosystems.
Furthermore, Injective’s inEVM platform empowers Ethereum developers to construct applications that can leverage Injective’s rapid transaction speeds and minimal fees. It also maintains interoperability across WebAssembly (WASM) and Ethereum Virtual Machine (EVM) environments. Consequently, Injective is the sole L1 blockchain capable of harmonizing Cosmos’s interoperability, Solana’s speed, and Ethereum’s developer accessibility.
In collaboration with AltLayer, Injective inEVM introduces a fresh design paradigm for EVM transactions. This paradigm involves conducting on-chain state validation through a network of economically backed nodes, ensuring optimal security and reliability throughout the rollup stack.
1/ Injective is officially collaborating with @alt_layer to create the first ever restaked security framework for on-chain #inEVM applications.
inEVM is now able to leverage Ethereum L1 security to further bolster the Injective ecosystem as a whole.https://t.co/mhLoHyde6u
— Injective 🥷 (@injective) March 15, 2024
Moreover, over the past 1 week, the price of Injective has experienced a modest increase of 5.44%. Currently, Injective ranks 5th in the DeFi Coins sector and 2nd in the Layer 2 sector. The token also ranks 1st in the AI Crypto sector.
In addition, market sentiment surrounding Injective is bullish, with the Fear & Greed Index indicating an extreme greed level of 81. Looking at its performance over the past year, INJ has seen a staggering price surge, increasing by 897%, outpacing 96% of the top 100 crypto assets. Injective is trading approximately 294.78% above its 200-day Simple Moving Average (SMA), which is $11.02.
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