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Investors constantly seek the best coins to buy daily. This article analyses the top cryptocurrencies to invest in now and highlights why they attract attention.
As the crypto market faces a downward trend, altcoins like Bitcoin Cash and Injective have performed well over the past day and week. As a result, investors are beginning to consider these coins for their portfolios. This article analyzes the top cryptocurrencies for potential investment, highlighting those primed for substantial growth and exploring the factors driving their potential ascent.
Best Cryptocurrencies to Invest in Right Now
Injective launched a Layer-3 chain on Arbitrum to improve its infrastructure and support collusion within the blockchain ecosystem. Meanwhile, BCH is valued at $489.22, reflecting an increase of 0.19% over the past 24 hours. Furthermore, DICE has succeeded in its presale, having amassed an impressive $1.06 million.
1. Injective (INJ)
Recently, Injective launched a Layer-3 chain on Arbitrum to enhance its infrastructure and interoperability. This Layer-3 development, featuring the inEVM network, allows developers to create customizable chains using Arbitrum’s Orbit toolkit. The integration supports connections between Ethereum, Solana, and Cosmos, making Injective more versatile for developers.
Furthermore, the new Layer-3 chain offers high speed and low fees, attracting more projects and users. Additionally, it aims to reduce the circulating supply of the INJ token by burning a percentage of protocol fees weekly, potentially increasing the token’s price as supply diminishes.
However, the INJ token is currently experiencing a bearish phase, with consistent downward movements in recent trading sessions. The token struggles to maintain its position above critical moving average levels. Nonetheless, the 24-hour and 7-day charts show upward trends, with increases of 0.38% and 4.93% respectively.
.@BandProtocol 🤝 Injective inEVM https://t.co/l9Hbxe4xUO
— Injective 🥷 (@injective) May 17, 2024
INJ is trading 127.12% above the 200-day Simple Moving Average (SMA) of $11.02, demonstrating positive performance compared to its token sale price. The platform has also partnered with Band Protocol to enhance its accessibility. Band Protocol integrates with Injective’s inEVM, providing secure and reliable data feeds.
This integration allows Band oracles to supply crucial data for DeFi, derivatives, and other applications directly on the inEVM. Band Protocol significantly enhances Injective’s ecosystem capabilities by delivering accurate and timely data.
2. Bitcoin Cash (BCH)
Bitcoin Cash has garnered optimism as it prepares for a potential rebound, driven by increased investments from large-scale crypto investors. This surge in investment has boosted market confidence in the project’s prospects. It indicates a positive trajectory and reinforces its status as a relatively stable investment option within the volatile cryptocurrency market.
At the time of writing, BCH is priced at $489.22, reflecting a 0.19% increase in the last 24 hours. Over the past year, the price has surged by 321%, outperforming 79% of the top 100 crypto assets. Notably, it has also outperformed cryptocurrencies like Bitcoin and Ethereum.
The current price prediction sentiment for Bitcoin Cash is bullish, supported by a Fear & Greed Index reading of 72, indicating a state of ‘Greed’ in the market. Furthermore, the token trades above its 200-day simple moving average.
Additionally, it has experienced 15 green days in the last 30 days, amounting to 50% of the period. This suggests a strong upward momentum. The asset also boasts high liquidity relative to its market cap, making it an attractive option for investors looking for more stable opportunities in the cryptocurrency space.
Increased large-scale investments, a significant annual price increase, and favorable technical indicators contribute to Bitcoin Cash’s optimistic outlook. This positions it as a notable contender in the cryptocurrency market, reflecting its growth potential and current market sentiment.
3. Mega Dice (DICE)
Mega Dice is making significant strides in its crypto casino, propelled by the successful launch of its new presale token, DICE. The cryptocurrency has garnered an impressive $1.06 million in its presale, a testament to its potential in the market.
$DICE presale has raised $1 MILLION! 🚀🚀
This #MillionDollarMilestone brings us closer to revolutionizing GameFi. What's coming next?👇
Next tier price: 0.075 💰
Next presale target: $2M 💰
We're implementing multiple tiered price increases, so make sure to secure your $DICE… pic.twitter.com/MDfn5lVhju
— Mega Dice Casino (@megadice) May 15, 2024
Furthermore, the DICE tokens are priced at $0.075 each. Over 15.4 million tokens have been sold, with the project aiming to sell 28 million DICE tokens. The platform is conducting an airdrop program split into three Seasons, each offering participants a chance to claim a portion of the $750,000 reward pool.
To be eligible, users must wager $5,000 within 21 days. After the first season, participants holding DICE tokens will receive special rewards. Moreover, participants of season 1 of the airdrop will receive their rewards within 72 hours of the announcement made on May 15.
Season 2 is set to begin after the presale reaches $1 million, achieved as of yesterday. Mega Dice‘s incorporation of its native token and innovative incentives like the airdrop program reflects its goal to engage users and foster adoption in the crypto gaming sector.
4. Chainlink (LINK)
Chainlink has experienced a notable increase in network activity and price. This uptrend coincided with a slight decline in Bitcoin dominance. As interest in LINK grew, the blockchain’s network activity surged, reaching 5,820 transactions in a single day, nearing its monthly high.
LINK is currently trading at $16.41, with a market capitalization exceeding $9.6 billion. The bullish sentiment around LINK, as reported by Santiment, has significantly risen. This sentiment is the highest Chainlink has seen in over a year, suggesting a positive market outlook.
Consequently, LINK’s price increased by approximately 1.41% in the last 24 hours. Additionally, Chainlink has partnered with major global financial firms to transition capital markets to the blockchain and access the tokenized asset economy.
The new Smart NAV pilot between the DTCC, Chainlink, and 10 market participants demonstrates how Chainlink #CCIP can serve as an abstraction layer between "DTCC and the potentially infinite number of blockchains we may need to integrate."
Full report: https://t.co/ob3K0s4NXE pic.twitter.com/Cf2cVoOdZy
— Chainlink (@chainlink) May 19, 2024
The Depository Trust and Clearing Corporation (DTCC) is preparing to launch a pilot program with major U.S. banks to facilitate the tokenization of real assets. Chainlink will act as the blockchain oracle for this process.
DTCC plans to launch its Smart NAV pilot program with central U.S. banks, focusing on tokenizing real assets. In addition, Chainlink will serve as the blockchain oracle that facilitates this process.
The Smart NAV pilot represents a significant step towards integrating blockchain technology within traditional finance. This initiative reflects the broader trend of increasing blockchain adoption in mainstream financial systems.
5. Uniswap (UNI)
Uniswap’s price has fluctuated recently, moving between its recent highs and lows. The token has generally been on an upward trend over the past month and significantly more over the past six months. Over the last few days, the average price has remained around its current level, while longer-term averages show a steady increase.
According to standard measures, UNI is neither overbought nor oversold, indicating a balance between buying and selling pressures. The token trades above its 200-day simple moving average, indicating a positive long-term trend. Additionally, it boasts high liquidity based on its market cap.
Furthermore, Uniswap’s role as a major decentralized finance (DeFi) exchange, allowing users to swap various cryptocurrencies without a central authority, positions it for potential growth linked to the expanding DeFi sector. As interest in DeFi persists, Uniswap may attract more attention, potentially leading to increased adoption and value.
You can now transfer crypto directly from a CEX to your Uniswap mobile app 👀
No more copy and pasting or sending funds to the wrong address
Here's how it works 👇 pic.twitter.com/UYS24CeFy3
— Uniswap Labs 🦄 (@Uniswap) May 16, 2024
Analysts predict significant value increases for UNI Coin, driven by the efforts of protocol developers and community investors. The maximum price level of UNI Coin is forecasted to reach as high as $18.62 by the end of the year, reflecting optimism in Uniswap’s future within the DeFi ecosystem.
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