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Gain valuable insights into the top cryptocurrency and capitalize on investment opportunities amidst the rapid developments in the crypto market.
Altcoins have begun to capitalize on the bullish trend in this 2nd quarter of the year. These cryptocurrencies benefit from the prevailing optimism, with significant daily price increases. Additionally, Investors are pleased with the profitable returns they are experiencing. This article highlights various tokens and explores the factors behind their remarkable surge in value.
Top Cryptocurrency to Buy Now
This week, the crypto market has experienced considerable volatility, with many tokens witnessing significant price fluctuations. TAO is trading at $579.24, boasting a market cap of approximately $3.7 billion and a trading volume surpassing $20 million in the last 24 hours. Meanwhile, Dogecoin20 has completed its presale, amassing over $10 million in funds. Additionally, PENDLE has entered a price discovery phase, achieving a new all-time high earlier today at $7.23.
1. Dogecoin20 (DOGE)
Dogecoin20 has concluded its presale, having raised over $10 million. This meme-inspired token offers investors a unique opportunity, with a limited window for participation ending on April 20th, 2024. During this phase, investors can acquire DOGE20 at a fixed price of $0.00022 per token, potentially securing a considerable discount compared to the expected listing price upon its debut on decentralized exchanges.
Wow! 🎉
No words to describe this amazing achievement! 🚀#Dogecoin20 reaches $6 million raised! 💰
Massive thanks to the #Crypto Community! 🙌#DOGE20 wishes you a great weekend! 🌟🐶 pic.twitter.com/PaAyohkpB7
— Dogecoin20 (@DOGE_COIN20) March 22, 2024
Furthermore, Dogecoin20 operates on the Ethereum blockchain as an ERC-20 token with distinct features reminiscent of Dogecoin. Moreover, it introduces elements such as staking rewards and a capped supply, which aim to incentivize long-term investment and alleviate inflation concerns.
Investors anticipate a surge in value following DOGE20‘s official launch on April 20th, coinciding with the Bitcoin halving event. They suggest that the token’s unique attributes and the prevailing market hype could propel its price to increase by up to 100 times within a short period.
2. Bittensor (TAO)
Bittensor is an open-source protocol known for its decentralized marketplace for machine learning models and algorithms. The token has recently experienced a surge in its TAO token price. It climbed by a staggering 700% in just two months, propelling TAO tokens to reach an all-time high of $759.
At the time of writing, TAO is trading at $579.24, with a market cap of around $3.7 billion and a trading volume exceeding $20 million within 24 hours. One contributing factor to this rise is the announcement of a partnership between Bittensor and the AIT protocol. This integration aims to develop a subnet known as Einstein-AIT within the Bittensor ecosystem.
Furthermore, it aims to enhance Bittensor’s AI services, potentially boosting TAO’s value by an estimated 21.7% to $633.99. Additionally, Bittensor’s current trading activity indicates it is trading above its 200-day simple moving average. Moreover, Bittensor holds the top position in the AI Crypto sector, reflecting its dominance and relevance in the market.
3. Fantom (FTM)
Fantom is a fast and scalable platform that enhances transaction efficiency and smart contract execution. Its innovative consensus mechanism has received attention from the blockchain community. Recently, Fantom unveiled a new stablecoin in collaboration with USDC-issuer Circle, termed the “canonical” stablecoin. To introduce this new stablecoin, named USDC.e, Fantom will employ the cross-chain messaging protocol Wormhole (W).
The collaboration between Fantom and Circle aims to address liquidity fragmentation and stabilize the ecosystem. By leveraging the Wormhole Native Token Transfers (NTT) standard, USDC.e seeks to make the Fantom platform accessible to all users and developers, enhancing its appeal and functionality.
Moreover, FTM has seen significant price movements, with a 2.06% increase in the last 24 hours. Trading 117.23% above the 200-day Simple Moving Average (SMA), FTM indicates strong market sentiment. The 14-day Relative Strength Index (RSI) suggests a balanced outlook, with positive trends observed in 17 of the last 30 trading days.
FTM boasts high liquidity and a notable volume-to-market cap ratio of 0.2265. Current sentiment surrounding Fantom’s price prediction is bullish, with the Fear & Greed Index showing 76 (Extreme Greed). Furthermore, Analysts anticipate a bullish rally in the crypto market, which is expected to drive significant price increases for Fantom Coin in the latter half of the year.
4. Flare (FLR)
FLR token has demonstrated robust performance over the past week. Its price surged 27.96%, securing its position as the fourth top gainer in the crypto market. With a market capitalization of $1.65 billion, Flare maintains the 72nd rank.
Despite a comparatively lower 24-hour trading volume of $35 million, Flare has managed to sustain its positive momentum in the market. Furthermore, the recent price surge of Flare can be attributed to a significant milestone of reaching 482,000 wallet addresses on-chain. Moreover, Flare Network is transitioning towards the AI sector while solidifying its position as an oracle protocol.
Also, Flare Network has announced the integration of Hypernative to enhance security within its ecosystem. Through this collaboration, Flare ecosystem participants will benefit from protection against zero-day cyber attacks and preemptive alerts regarding emerging risks.
Flare joins forces with Web3 security leader @HypernativeLabs to safeguard its ecosystem.
$14B prevented losses & $37B assets are already secured by Hypernative.
This team-up underscores Flare's commitment to top-tier security for institutions, builders & users.… pic.twitter.com/8hp5kQCJsF
— Flare ☀️ (@FlareNetworks) April 4, 2024
Given the increasing sophistication of web3 attacks and their broadening range of exploit vectors, bolstering security measures becomes paramount. By partnering with a reputable leader in web3 security like Hypernative, Flare aims to elevate safety standards and fortify protection for all users, dApps, and institutions within its ecosystem.
5. Pendle (PENDLE)
Pendle, in collaboration with Amber Group, has announced a renewed partnership aiming to offer higher yields to Amber Group’s users. This partnership introduces Pendle Earn, a feature enabling clients to earn fixed Ethereum rates. Over the past week, PENDLE has shown remarkable performance, taking advantage of a brief market recovery to reach record highs.
Despite experiencing three consecutive days of intraday losses from April 1 to 3, PENDLE seized the opportunity as the broader market began a recovery phase on April 4. Moreover, introducing two new LRTs on Arbitrum on April 4 further fueled PENDLE’s price gains, resulting in a substantial 28.56% increase, marking its largest intraday gain of the year.
Following this surge, PENDLE entered a price discovery phase, hitting a new all-time high earlier today at $7.23. Although currently down by 8.9% from this peak, the asset has retained a significant portion of the gains accumulated throughout the week.
We've teamed up with @ambergroup_io again to bring higher yields to their users. 🥳
Now clients can earn fixed rates on ETH through Pendle Earn with Amber Group.
Stay tuned for more integrations as we make DeFi yields simpler and more accessible. ⚡️ pic.twitter.com/9TzZzgNlSU
— Pendle (@pendle_fi) April 5, 2024
In addition, PENDLE has demonstrated an 18.41% increase over the week, now boasting a market capitalization of $1 billion. Additionally, PENDLE currently trades above its 200-day simple moving average and has shown high liquidity based on its market cap.
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