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Bitcoin’s price climbed to $64,151, marking a 5.47% increase in the past 24 hours after Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. His comments suggested that interest rate cuts might occur in September, sparking optimism among U.S. investors and boosting demand for Bitcoin.
Following Powell’s speech, the broader cryptocurrency market turned bullish, with most major cryptocurrencies gaining over the last 24 hours. Bitcoin and Ethereum rose by 5.18% and 4.79%, respectively. Additionally, the Altcoin Speculation Index indicates that major altcoins might experience notable gains. As such, investors are seeking the top crypto to invest in right now to enjoy potential gains.
Top Crypto to Invest in Right Now
Fetch.ai announced that it has opened an innovation lab in San Francisco. This lab aims to advance the development of AI agent solutions. Meanwhile, Solana is experiencing notable growth, especially in the DeFi sector and the number of active user addresses. SOL’s current price is $158.56, reflecting a 3.33% increase over the day. Additionally, the SHIBASHOOT token presale has raised over $1 million.
1. Fetch.ai (FET)
Fetch.ai recently expanded its operations by launching an innovation lab in San Francisco. Announced on August 23, this lab intends to drive the development of AI agent solutions. As a member of the Artificial Superintelligence Alliance, Fetch.ai aims to leverage this hub to strengthen its presence in the AI sector.
The lab will operate with an annual budget of $10 million, focusing on funding projects that utilize Fetch.ai’s technology to create AI agents. The initiative targets startups, providing them with financial backing and expert mentorship to guide their development.
In addition to the startup accelerator, the platform has introduced other initiatives, including an ambassador innovator club and an internship incubator program. The lab’s activities will include technical workshops and hackathons, offering participants access to academia, research, and industry experts. These programs are designed to foster collaboration and innovation in the AI space.
Launching The Innovation Lab by https://t.co/kJ9URVpOul in SF!🚀
Advancing AI and driving innovation to create value at scale with:
• Ambassador Innovator Club
• Internship Incubator Programme
• Startup AcceleratorSite https://t.co/uLINLPK5ZM
Blog https://t.co/xnP90dQ1WY pic.twitter.com/9aB2r42Idb— Fetch.ai (@Fetch_ai) August 23, 2024
From a market perspective, FET is currently priced at $1.25, reflecting a 3.17% increase over the past 24 hours. The token is trading 42.14% above its 200-day Simple Moving Average (SMA) of $0.869975, indicating it is near a cycle-high. The 14-day RSI is 62.81, suggesting that FET is in a neutral zone, which implies potential sideways trading in the near term.
Furthermore, Fetch.ai’s focus on practical AI applications and its strong market performance position it as a noteworthy player in the evolving AI and blockchain landscape. However, like all investments, those interested in FET should carefully consider market trends and the project’s ongoing developments.
2. Shiba Shootout (SHIBASHOOT)
Shiba Shootout merges a Wild West theme with blockchain technology, enabling players to earn rewards in SHIBASHOOT tokens. The game is set in the fictional town of Shiba Gulch, where players engage in different activities to earn these tokens.
A basic game version is available on Google Play and the App Store, showing the game’s potential. Moreover, the full version, expected later this year, will introduce more advanced gameplay elements and additional opportunities to earn SHIBASHOOT tokens, reflecting the project’s goal of expanding its ecosystem and enhancing player engagement.
Furthermore, SHIBASHOOT tokens are central to the game’s ecosystem. Players can stake these tokens to earn APYs, promoting long-term holding and providing a source of passive income. This staking process also contributes to network security, adding practical value to the tokens.
The presale of SHIBASHOOT tokens has raised over $1 million so far. The project focuses on building a strong community by offering early adopters access to staking rewards and leaderboard bonuses. The tokens are available for $0.02 at press time, making it one of the top crypto to invest in right now with numerous utility ideas.
🚀 Let the fun begin Sharpshooters!!!! 🚀
"May the best Meme win" 🤠 🤠
$50 cash prize to the winner!! 💸 🏆 💸
Post your $Shibashootout memes in our offical telegram group for a chance to win!!! https://t.co/b7R2u2mgDg#Meme #cryptocurrency #competition pic.twitter.com/fG1kxhegM8
— shibashootout (@shibashootout) August 24, 2024
In addition to the core gameplay, the Shiba Shootout ecosystem features Cactus Staking, which offers high APYs, and Lucky Lasso Lotteries. These components add variety to the play-to-earn experience and provide different ways for players to earn within the game.
3. Core (CORE)
Core is a decentralized blockchain platform that prioritizes scalability and security for various applications. Its unique focus on interoperability allows different blockchains to interact seamlessly. Moreover, it supports the integration of multiple dApps, effectively addressing common blockchain issues such as scalability, transaction speed, and cost-effectiveness.
Furthermore, Core features a hybrid consensus mechanism, which merges Proof of Stake (PoS) with advanced technologies. This combination allows for high transaction throughput and strong security. It also ensures faster transaction processing and lower fees than traditional blockchain networks. The platform aims to be developer-friendly by offering tools and resources that simplify the creation and deployment of dApps.
Grabbed your share of the biggest #CoreIgnitionDrop Sparks campaign ever?🔥
More than 100 MILLION Sparks will be dropped for those who connect their X profile to the Ignition Dashboard and spread the word about it!
Check out how👇https://t.co/dFieTsUJJA pic.twitter.com/zVhA0lfHzN
— Core DAO 🔶 (@Coredao_Org) August 22, 2024
At the time of analysis, Core was priced at $1.18, reflecting a 2.28% drop in the past 24 hours. However, its 7-day chart shows gains of about 17.78%, indicating a solid market position.
If Core’s price breaks through current resistance levels, it could indicate the start of a sustained bullish trend. According to Coincodex’s prediction, Core DAO’s price could rise by 223.90%, potentially reaching $3.90 by September.
4. Sei (SEI)
Sei Network is specifically designed for trading, focusing on improving the performance of decentralized exchanges by addressing common issues faced by traditional blockchains, such as reliability, scalability, and speed. The network’s architecture is tailored to enhance these aspects, offering a competitive advantage over conventional systems.
Its specialized Layer 1 design provides security benefits. This architecture supports high transaction speeds and reliable operations, essential for trading activities. By integrating advanced technology with stringent security protocols, Sei provides a secure and efficient platform for DEX operations.
Currently, the Sei token is trading at $0.3527, reflecting a 14.14% increase in the past 24 hours. Its 14-day RSI stands at 48.79, indicating a neutral market condition, which suggests the token may trade within a stable range in the near term. Market sentiment for the Sei token appears bullish.
As the week wraps up, let’s take a look at the relentless progress happening in the Sei ecosystem.
From new deployments to community-driven initiatives, the Sei community has been hard at work pushing the boundaries of what’s possible.
Here’s a recap of the week’s highlights 👇… pic.twitter.com/a1ALd8WzmQ
— Sei 🔴💨 (@SeiNetwork) August 23, 2024
The Sei Network demonstrates a robust liquidity ratio of 0.5051, pointing to active trading engagement. Over the past year, the token has experienced a 147% increase, outperforming 68% of the top 100 crypto assets by market capitalization. This strong performance highlights Sei Network’s potential as a viable investment option within the trading-focused blockchain sector.
5. Solana (SOL)
Solana is recognized in the cryptocurrency market for its exceptionally fast processing times. Its unique hybrid protocol significantly reduces the time needed to validate transactions and execute smart contracts. This efficiency has attracted considerable interest from institutional investors.
The Solana ecosystem has notably grown, particularly in the DeFi sector and active user addresses. The current price trend of SOL reflects a positive outlook, with the price standing at $158.56, showing an intraday surge of 3.33%.
Meanwhile, market sentiment for the SOL token is bullish, with market participants being optimistic about the coin’s growth. The token currently trades above its 200-day simple moving average, indicating a sustained positive trend.
Its market price has also outperformed the initial token sale price, reflecting strong growth since its launch. Additionally, Solana boasts high liquidity, as evidenced by its substantial market capitalization.
In a significant development, Coinbase has announced support for EURC, a euro-backed stablecoin issued by Circle, on the Solana network. This strategic move is designed to enhance EURC’s accessibility and user-friendliness. By integrating EURC with Solana, the stablecoin will become more convenient for transactions on the platform.
This integration will allow Solana users to send and receive EURC, making the platform more appealing, particularly to those seeking a compliant and reliable transaction framework. The addition of EURC transactions enhances Solana’s appeal among users in the crypto community.
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