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The imminent halving of Bitcoin has caused a rally in the crypto market. This uptick signifies investors’ optimism in exploring promising tokens with growth potential, with bullish trends expected. Consequently, Altcoins garner more attention from investors looking for varied investment opportunities.
However, selecting the appropriate altcoin demands diligence and comprehensive research. Hence, this article endeavors to simplify this task by spotlighting several noteworthy altcoins worthy of investment consideration.
6 Best Altcoins to Invest in Right Now
Bitcoin has fallen below the $64,000 mark, while altcoins like Fantom, Stacks, and Arweave are gaining attention as promising investment options for the upcoming Alt-season. This increased interest in alternative cryptocurrencies revitalizes investor confidence, leading them to review and modify their portfolios actively.
1. Fantom (FTM)
FTM’s native token, FTM, has printed 190% in the last month, making it one of the leading non-meme coin altcoins in the market. The coin’s value skyrocketed from $0.40 to $1.16, boosting its market value to $3.29 billion and raking it 44 among all tokens. Moreover, FTM has shown positive performance, trading significantly above the 200-day simple moving average.
In addition, its closing price has been green in 18 of the last 30 days. This surge is driven by the impending Sonic update, which seeks to transform transaction processing speeds on the Fantom blockchain. Tested on the testnet, Sonic has achieved remarkable results, processing up to 2,000 transactions per second.
1/ "Exemplary 99.9% uptime. Fantom's novel solutions position it as a frontrunner in the development of decentralized networks."@ReflexivityRes's Q1 '24 report on #Fantom covered:
🌐 Blockchain consensus
💻 Fantom technology
✅ Fantom uptimeLet's explore the report 👇 pic.twitter.com/TQLNPM6To9
— Fantom Foundation (@FantomFDN) March 21, 2024
Likewise, it has a finality time of 1.1 seconds, surpassing the current Opera mainnet’s capabilities. On this note, investors are monitoring FTM’s movements, with growing expectations and positive market sentiment evident in its trading performance. With the Sonic update gathering interest, FTM is positioned as a standout asset in the cryptocurrency market.
2. Stacks (STX)
The Stacks community has given the green light to the Nakamoto Upgrade, attracting the interest of crypto investors. This upgrade aims to enhance the network’s capabilities. In light of this announcement, STX’s value has experienced an uptick. Stacks has printed a 17.34% surge in the past 24 hours, outperforming even Bitcoin. Similarly, it has outpaced 71% of the top 100 crypto assets over the past year, signaling a strong upward trend.
Notably, the Nakamoto Upgrade focuses on improving the network’s efficiency. In particular, it emphasizes Bitcoin block times and the maximum extractable value (MEV) associated with Bitcoin transactions. By reducing the potential for transaction manipulation, miners and validators are expected to receive rewards easily, strengthening the network’s integrity.
Over 70,000 developers have started working with Bitcoin L2 Stacks via the @easya_app 🟧
And so can you! More info on how to start below 👇 pic.twitter.com/4raaiISpfJ
— stacks.btc (@Stacks) March 21, 2024
Furthermore, technical indicators show that Stacks is trading well above the 200-day simple moving average, indicating bullish sentiment. The project demonstrates consistent upward momentum, with 16 green days recorded in the last 30 days, representing 53% of the period.
3. Internet Computer (ICP)
The Internet Computer value is steadily rising, showcasing resilience amidst market fluctuations. Over the past 24 hours, ICP has experienced a commendable surge, marking a 7.20% increase. It currently stands at $13.22, positioning ICP favorably against leading cryptocurrencies such as Bitcoin and Ethereum.
Furthermore, ICP’s performance relative to its 200-day simple moving average (SMA) has been impressive. Currently trading at 42.32% above the 200-day SMA, ICP is effectively outpacing its long-term average.
Beyond price movements, the sentiment surrounding ICP’s price prediction leans towards a bearish outlook. Also, the Fear & Greed Index reading has dropped to 75, with investors in HODL mode. This means that despite the bearish outlook, investors are optimistic about returns soon.
AI chatbots like ChatGPT pose risks to user data.#ICP helps address these risks.
Utilizing ICP's smart contracts, @elna_live enables users to securely control their data, addressing these risks and setting a new standard for data protection.https://t.co/Hs1uyZpxPZ
— DFINITY (@dfinity) March 22, 2024
Delving deeper into its fundamentals, Internet Computer distinguishes itself with its unique proposition of hosting social networks and other services entirely on-chain. This underscores its potential to shape the decentralized future of the web, aligning with the ethos of Web3.
4. Arweave (AR)
Arweave is attracting considerable attention due to its current market performance. Over the past year, It has impressively surged by 302%, outpacing 81% of the top 100 coins, including Bitcoin and Ethereum.
Trading above its 200-day SMA, Arweave showcases positive performance trends compared to its token sale price. With 17/30 green days, Arweave demonstrates consistency in its upward trajectory.
The sentiment surrounding Arweave is bullish, underscored by a Fear & Greed Index reading of 75. For clarity, this score indicates a prevailing sense of greed among investors. Meanwhile, this optimism is not unwarranted, given Arweave’s strong fundamentals and dedicated community support.
ao strengthens the goal of #Arweave.
Millions of messages, and thousands of processes being executed on @aoTheComputer, stored permanently on Arweave.
Housing humanities knowledge requires context, and that what ao is already delivering with millions of messages onchain. pic.twitter.com/l08LCWzK72
— Only Arweave (@onlyarweave) March 22, 2024
Arweave’s potential to grow significantly, particularly if the project announces collaborations with other networks. Such partnerships could propel the price of AR Coin to exceed $32.35 by 2024, representing a significant leap from its current valuation.
5. Optimism (OP)
In the first week of March, OP announced a private token sale involving approximately 19.5 million OP tokens, valued at around $89.5 million. This announcement stirred considerable interest, but the market response was unexpectedly different.
Optimism’s price dipped from $4.67 to $4.19, marking a 10.28% decline. This trend persisted the following week, with OP trading at $3.30, indicating a downward trajectory. However, there are signs of a potential reversal.
Recent market data indicates a positive shift for Optimism crypto, with OP recording a 2.33% intraday gain, approaching its near-cycle high of $3.60. OP has been trading above its 200-day simple moving average, indicating potential bullish momentum. Moreover, in the last 30 days, OP has experienced 15 green days, where the daily close price exceeded the daily open price.
Despite recent setbacks, OP’s sentiment has been bullish, with the Greed score at 75. Furthermore, OP’s upward trend will continue, pushing its price to $8.48 by Q4 of 2024. This projection represents a significant climb of 156.97% from OP’s second-week March price of $3.30.
6. eTukTuk (TUK)
The eTukTuk presale has raised the $2.2 million, with investor interest growing. The project is gaining recognition based on its emphasis on advancing eco-friendly initiatives. Additionally, eTukTuk’s integration of AI-enhanced blockchain technology lays the groundwork for smart infrastructure, promoting real-time green initiatives.
The presale is progressing in stages, gradually increasing the price of eTukTuk’s native token, TUK, as more funds are secured. With a hard cap target of $10.7 million, the project aims to achieve its outlined objectives. Currently valued at $0.026, TUK tokens are obtainable using BNB, USDT, or credit/debit cards.
Investors also have the opportunity to stake their tokens, potentially earning yields of up to 114% APY. Over 43,914,420 TUK tokens have already been staked. The presale has raised over $1 million, with participants receiving an allocation of 6% of the total 2 billion TUK supply.
We've hit a major milestone, raising $2M in our pre-sale!
Thanks to our incredible community for your support.
Rest assured, these funds will fuel our mission for a sustainable future 🚀https://t.co/4kiTWB8U8Z
— eTukTuk (@eTukTukio) March 20, 2024
Upon the conclusion of the presale, eTukTuk plans to list TUK on prominent exchanges to enhance liquidity and accessibility. The project’s Telegram community eagerly awaits these listings, believing that eTukTuk’s eco-friendly objectives could stimulate demand. With the current momentum of the presale, eTukTuk appears poised to achieve its hard cap target, marking progress toward the execution phase of its roadmap.
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