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Earlier this week, the cryptocurrency market witnessed a massive plunge that saw Bitcoin bottoming to $48,000. This trend impacted numerous top cryptocurrencies and intensified losses among several altcoins. Consequently, this development has seen Insidebitcoins curate a list of the best altcoins to invest in today.
These tokens have been diligently researched and have been proven to deliver substantial returns. We evaluate their recent performance as well as their historical data to make a balanced analysis. The goal is to pinpoint why they are worth considering and to provide insights for investors.
5 Best Altcoin To Invest In Today
Ready to elevate your crypto investments and get the best returns on investments? Then, check out our carefully selected altcoins, which are potentially primed for substantial growth. Discover why they stand out in today’s market and secure your financial future by checking them out.
These tokens – Azuro Protocol, Mantle, and Compound have seen their bulls trigger a bullish trend. These bullish trends have seen them give investors massive ROI, with more gain in sight. Meanwhile, the Shiba Shootout and Pepe Unchained presales continue to gain widespread attention.
1. Azuro Protocol (AZUR)
Azuro Protocol revolutionizes the betting industry by removing intermediaries with its blockchain-based platform. The protocol ensures that all transactions are fair and efficient by utilizing smart contracts. This allows users to participate in a range of betting activities through easy-to-use apps and websites linked to Azuro’s system.
Moreover, the platform is designed to ensure that players enjoy enhanced transparency. Also, liquidity providers finance payouts and profit from the spread between bets and payouts. Meanwhile, data providers maintain fair and appealing odds by sourcing reliable information.
Furthermore, Azuro’s DAO structure enables token holders to participate in crucial decision-making, promoting a community-driven model. The platform’s betting engines manage all technical operations, including accepting bets and calculating winnings. Also, innovative features like the Liquidity Tree guarantee stable funding and prompt payouts.
Woot, woot. Did somebody say GRANTS??? 🤑
Calling all builders 👷
🌊 Azuro is sponsoring a $5,000 grant to develop an application that has the UI/UX of a trading platform! pic.twitter.com/dvFn413IsR— azuro 🌊 (@azuroprotocol) August 9, 2024
Meanwhile, the AZUR token increased by 4.92% to $0.1512 in the past 24 hours, indicating growing investor interest. It is trading above its 200-day SMA and has posted 23 green days in the last 30.
Unlike several tokens trading today, AZUR has a lower liquidity ratio of 0.043. As a newer player, AZUR’s innovative features, like the Liquidity Tree, are gradually becoming a powerhouse in the betting sector.
2. Pepe Unchained (PEPU)
Pepe Unchained ($PEPU) has reached a significant milestone in its presale, raising over $6.7 million. As it gears up for a major launch in August, the new Pepe meme coin, utilizing Layer 2 technology on Ethereum, recently saw notable presale activity. The token recently demonstrated investors’ faith in it when a prominent investor purchased nearly $200,000 worth of $PEPU.
Layer 1 blockchains frequently face network congestion, resulting in slow transactions and high fees. Pepe Unchained tackles these problems by handling transactions on the main Ethereum chain. Its secondary layer enhances scalability, speed, and efficiency, enabling a greater transaction volume at reduced costs.
One of the most exciting features of Pepe Unchained is its double staking rewards. By employing Layer 2 technology, the project provides its community with notably higher $PEPU staking rewards. This leads to greater gains for holders as lower operational costs translate into increased benefits.
Pepe is gearing up to surf his own Layer 2 blockchain – the first of its kind! 🐸🌊 pic.twitter.com/T41V8wNDBh
— Pepe Unchained (@pepe_unchained) August 8, 2024
Notably, Pepe Unchained has raised over $1.8 million in just one week and is set to reach $8 million soon. You can currently purchase $PEPU for $0.0089461 per token, but this price will rise in under 15 hours. At this modest rate, $PEPU remains a great deal. The current excitement is a glimpse of the substantial investor interest anticipated when it lists on major exchanges.
3. Mantle (MNT)
Recent data indicate that a significant number of MNT tokens have flooded exchanges. This shows that investors are eager to capitalize on the token’s recent gains. Over 321 million MNT tokens, worth roughly $286 million, are currently held in exchange wallets.
Notably, this unique trend typically occurs when investors seek to profit from favourable market conditions. Over the past week, MNT’s value has risen by 1.89%, reaching $0.6173. This uptick in price has led many investors to consider selling their holdings.
Furthermore, Mantle’s ecosystem is expanding exponentially, with the token seeing widespread adoption. The total value locked (TVL) in Mantle has surged, largely due to incentive programs. Also, the token experienced a 68.5% increase in TCL towards the beginning of August after $COOK announced a 6% airdrop for Puff community members.
📌 Weekly Mantle Memo: Aug. 9
Keep up with all events ongoing at Mantle and catch up on any $mETH , Powder, $MNT or ecosystem reward-earning opportunity you might have missed ↓
Catch the 🆕 events added! pic.twitter.com/N3i5yXZ3pm
— Mantle (@0xMantle) August 9, 2024
Meanwhile, the token is trading 45% above its YTD price to demonstrate its long-term performance. Moreover, investors anticipate that Mantle’s price could breach its upper resistance level soon. This prediction is based on the condition that the market maintains its bullish momentum.
4. Shiba Shootout (SHOOTOUT)
Shiba Shootout has raised over $896,000 in its ongoing presale and is rapidly nearing the $1 million mark. The presale is structured in phases, with each phase structured to enable a small price increase. At the current rate of $0.0198 per token, investors will be making a perfect bargain before the next price rise.
Apart from its strong presale performance, Shiba Shootout features an engaging backstory. It also uses a Wild West-themed world adventure featuring challenges and meme battles to promote itself.
Consequently, this distinctive theme, combined with interactive elements, has captured the interest of many in the crypto community. As a result, Shiba Gulch has become a lively hub for enthusiasts to connect and engage. Shiba Shootout also features a well-structured staking program that appeals to investors.
This #token and #Game Could Make Millionaires! Will You Be One? 😲
Check out the full video here: https://t.co/3HbaKmZru1 pic.twitter.com/0z1QcW1lvj
— shibashootout (@shibashootout) August 9, 2024
Furthermore, the “Cactus Staking” program offers a remarkable 1116% APY, attracting substantial participation. So far, around 30 million $SHIBASHOOT tokens have been staked, indicating strong community involvement. The project’s strategic token distribution enhances Shiba Shootout’s growth and stability, positioning it as a leading opportunity in the crypto market.
5. Compound (COMP)
Compound is an innovative DeFi lending project that allows users to earn interest on their cryptos. When users deposit tokens into Compound’s pools, they receive cTokens proportionate to their investment. For example, depositing ETH will yield cETH over time. This unique strategy enables users to redeem a larger amount of the original asset.
Furthermore, the project enables borrowers to secure loans by providing collateral. The loan-to-value (LTV) ratio varies from 50% to 75%, depending on the asset. If the value of the collateral drops below the required level, it is automatically liquidated. This process safeguards lenders and helps maintain the system’s stability.
Moreover, token holders can propose and vote on protocol changes, such as adjusting supported cryptocurrencies or altering collateralization factors. This decentralized governance means that changes are made without direct involvement from the Compound team. Also, COMP tokens can be obtained from exchanges or earned through interaction with the protocol, such as depositing assets or borrowing.
The Compound community is holding a delegate race.
Get involved in Compound governance today!
Learn more at the link below. https://t.co/KbhMKOcSmP
— Compound Governance (@compgovernance) August 5, 2024
Meanwhile, the COMP is trading 2.5% above its 24-hour value to demonstrate its impressive performance. Analysts predict that the token could surpass its upper resistance level soon. This prediction hinges on the market sustaining its bullish momentum.
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