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Explore the current market by focusing on recent performance indicators and promising trends. Assessing factors such as price movements, market sentiment, and developments will provide a comprehensive view to guide informed decisions in the market.
As anticipation builds for a bullish trend in the altcoin market, investors increasingly focus on identifying tokens poised for significant profit potential. This surge in interest comes amidst a backdrop of growing optimism around the anticipated start of Ethereum ETF trading and market dynamics favoring altcoins. This article analyzes several cryptocurrencies expected to perform robustly, offering valuable insights for market participants aiming to capitalize on the anticipated market upswing.
Best Cryptocurrencies to Invest in Right Now
Worldcoin recently experienced a significant increase with 24-hour gains following an announcement by Tools for Humanity (TFH), the developer of the Worldcoin project. On July 16, TFH disclosed changes to the unlock schedule for its native token, WLD.
Meanwhile, Mega Dice has successfully raised over $1.6 million and is nearing the $2 million milestone. In parallel, XRP has experienced a significant rise in value, increasing by 40.37% over the past week. This surge has generated excitement among investors, leading to speculation about a potential major breakout for XRP.
1. Worldcoin (WLD)
Worldcoin recently experienced a notable increase, with 24-hour gains. This surge follows a significant announcement by Tools for Humanity (TFH), the developer of the Worldcoin project. On July 16, TFH disclosed changes to the unlock schedule for its native token, Worldcoin (WLD).
Initially, the plan was to unlock WLD tokens over three years. However, TFH has extended this period to five years, starting July 24, 2024. This adjustment means that 80% of WLD tokens held by team members and investors will gradually become accessible over the next four years, concluding by the end of July 2028.
This extension aims to prevent a sudden influx of tokens into the market, which could potentially lower the token’s price. Following this announcement, the price of WLD rose steadily. Daily trading volumes also significantly increased, hitting $757 million, up 136.36% at the time of writing.
Just in: The Worldcoin community has grown to 6 million verified humans & the Worldcoin Foundation has announced an additional year to redeem reservations.https://t.co/TrKDTXHqqU
— Worldcoin (@worldcoin) July 10, 2024
Moreover, WLD is priced at $2.90, reflecting a 34.37% increase over the last day. Furthermore, the token’s price has increased by 49.59% in the past week despite the downward trends shown in the monthly charts.
The revised unlock schedule has contributed to the positive sentiment around Worldcoin, leading to its recent price recovery. TFH aims to create a more stable market environment by extending the unlock period reducing the risk of price volatility caused by a sudden increase in token supply.
2. Arweave (AR)
Arweave is a decentralized storage network designed to provide a platform for indefinite data storage. The platform uses a unique proof-of-access consensus mechanism to ensure data is stored permanently and tamper-proof. Unlike traditional, centralized data storage solutions, Arweave operates fully decentralized.
Furthermore, AR has experienced a significant price surge, increasing by 15.36% intraday and 38.79% over the past week. The current market sentiment around the token is bullish, with the Fear & Greed Index indicating a level of 69 (Greed).
Moreover, AR trades above important moving averages, signaling buyers are gaining momentum to maintain the 20-day Exponential Moving Average (EMA) level. The token is also above the 200-day Simple Moving Average (SMA), which suggests a sustained positive trend. Compared to its token sale price, AR has shown positive performance, recording 20 green days in the last 30 days.
The 14-day Relative Strength Index (RSI) for AR is 41.65, indicating that the cryptocurrency is currently neutral and may trade sideways. The token also has high liquidity based on its market capitalization, making it an accessible option for traders.
Meanwhile, the token’s recent price surge and current market indicators suggest a positive outlook. However, the RSI indicates a neutral position, which might lead to sideways trading in the short term. The token’s high liquidity further enhances its trading potential, making it one of the best cryptocurrencies to invest in right now.
3. Akash Network (AKT)
Akash Network is innovating cloud computing with its decentralized, open-source marketplace for computing resources. It allows users to rent out their excess GPU capacity at costs lower than major cloud providers.
This approach has caught the attention of notable investors, including Grayscale, which recently added Akash to its high-potential assets for Q3 2024. Despite the recent market downturns, AKT has shown resilience and growth potential.
The token is currently on an upward trend as it has established strong support at $2.50, accompanied by high trading activity. Akash Network’s roadmap outlines several future development initiatives, indicating long-term promise for the AKT Coin.
The Akash Supercloud is a global network with a community of contributors from around the world.
This is the power of permissionless. As the community grows and awareness builds — the network only becomes stronger.#AISupercloud https://t.co/1GZ1PlhdFc
— Akash Network (@akashnet_) July 16, 2024
Currently, AKT is trading 260.78% above its 200-day Simple Moving Average (SMA) of $1.0128. The 14-day Relative Strength Index (RSI) stands at 57.04, indicating a neutral position and potential upward trends.
Furthermore, AKT has consistently performed well compared to its token sale price, with 17 green days in the past 30 days. The token also boasts high liquidity relative to its market cap. Analysts predict that the maximum price of AKT could reach around $7.91 by the year’s end, providing potential investors reassurance and confidence.
4. Mega Dice (DICE)
Mega Dice has successfully raised over $1.6 million and is nearing the $2 million milestone. The project targets gamblers on its platform and holders of its native DICE token. The DICE token is currently priced at $0.09548. Mega Dice encourages potential investors to consider buying before the price changes.
In addition, Mega Dice has introduced a Refer & Earn program, which rewards users who bring in new participants with a percentage of their referred users’ spending. Users can earn significant returns by staking their DICE tokens. Mega Dice offers up to 50% weekly cashbacks and 10% rakebacks.
#DICE presale has raised $1.6 MILLION! 🚀🚀
This milestone brings us closer to revolutionizing GameFi. Remember 👇
Current tier price: $0.090
Current presale target: $2MWe're implementing multiple tiered price increases, so make sure to secure your $DICE early – we've now… pic.twitter.com/7n6H0TaK37
— Mega Dice Casino (@megadice) July 8, 2024
Furthermore, the project features a $2.25 million presale airdrop, divided into three seasons with $750,000 per season, to reward DICE users. DICE holders receive special deals. Users can use DICE to trade futures on the Mega Dice platform.
In addition, Mega Dice has partnered with leading Key Opinion Leaders (KOLs) and aims to secure listings on top-tier exchanges upon its decentralized exchange (DEX) launch. The community is growing, with about 14,000 members on Telegram and 32,000 on Twitter.
5. XRP (XRP)
XRP has experienced a notable rise in value, increasing by 40.37% over the past week. This surge has generated excitement among cryptocurrency investors, leading to speculation about a potential major breakout for XRP.
Moreover, the token’s price has experienced an intraday price surge of 9%, reaching $0.6154. The average number of transactions per ledger has hit 204, marking a 250% increase from the start of the month. This uptick in transactions suggests heightened network activity and utility, which could drive up demand for XRP and attract more capital inflow.
Another significant factor contributing to the rise in XRP’s value is the growing expectation that Ripple’s legal battle with the US Securities and Exchange Commission (SEC) is nearing an end. This legal resolution could boost investor confidence and potentially increase the asset’s price.
Furthermore, the current market sentiment surrounding XRP is bullish, supported by the Fear & Greed Index, which indicates a 69 (Greed) level. XRP is trading above the 200-day simple moving average and has shown positive performance, with 17 green days in the last 30 days.
The platform’s strategic emphasis on cross-border payments and partnerships with major financial institutions has strengthened its market position. The positive outlook on its legal issues has further bolstered investor confidence, maintaining Ripple’s stance as one of the best cryptocurrencies to invest in right now.
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