Join Our Telegram channel to stay up to date on breaking news coverage
As of October 16, Bitcoin has surged past $67,000 in 24 hours, marking significant activity in the cryptocurrency market. Altcoins are recording gains, with Arbitrum seeing a 0.75% rise and Stellar increasing by 1.01%. The upcoming U.S. presidential elections are adding uncertainty, as potential outcomes could impact cryptocurrency prices.
Additionally, Grayscale plans to convert Solana, Avalanche, and XRP trusts into ETFs, which has attracted further interest. As the market continues to shift, investors are looking for the best cryptocurrencies to invest in right now. By analyzing price movements and institutional trends, they hope to identify promising altcoins that could offer strong potential for future growth.
Best Cryptocurrencies to Invest in Right Now
Arbitrum has recently expanded its capabilities by partnering with the Tria platform, aiming to improve chain abstraction. Meanwhile, NEAR Protocol is currently valued at $4.99, reflecting a 2.45% rise over the past week. Additionally, the Stellar Development Foundation has joined forces with Mastercard to streamline the process of transferring money through cryptocurrency. This partnership enables users to add labels to remittances and peer-to-peer transactions on the Stellar network, further enhancing its utility.
1. Arbitrum (ARB)
Arbitrum is a layer-two (L2) scaling solution for Ethereum that aims to make transactions faster, cheaper, and more efficient. It uses a technology called optimistic rollups, which processes transactions off the main Ethereum network while still relying on Ethereum’s security. This method helps reduce fees and allows for more transactions at once compared to using Ethereum directly.
Recently, Arbitrum advanced its capabilities by collaborating with the Tria platform to enhance chain abstraction. This partnership aims to simplify interactions across various blockchain ecosystems, including Ethereum Virtual Machine (EVM), Solana, Cosmos, Move, and Bitcoin-based chains.
We're thrilled to bring the next evolution of chain abstraction on Arbitrum with @useTria.
Users and assets from EVM, Solana, Cosmos, Move, and Bitcoin-based chains can now interface with Arbitrum Orbit as fluently as native assets—no more bridging, gas tokens, or new wallets. https://t.co/OcfbCuxy3v
— Arbitrum (💙,🧡) (@arbitrum) October 15, 2024
For developers, the integration with Tria offers a valuable opportunity to create decentralized applications (dApps) that leverage Arbitrum as the underlying settlement layer. This means that developers can tap into a broader user base and access liquidity from across the Web3 sector, making their applications more robust and widely accessible.
Currently, the ARB token trades at $0.5685, with a slight increase of 0.75% during the day. Market sentiment around Arbitrum is neutral, while the Fear & Greed Index shows a score of 73, indicating some investor greed. In the last 30 days, Arbitrum saw price increases on 17 days, reflecting potential stability. The project also enjoys high liquidity based on its market capitalization, which may appeal to investors.
2. NEAR Protocol (NEAR)
NEAR Protocol is a decentralized platform that helps developers build applications efficiently. It addresses common issues in scalability and performance found in traditional centralized systems. One of the key features of NEAR is its use of Nightshade sharding. This process divides data into smaller pieces, allowing the network to handle many transactions at once. This significantly improves efficiency, especially as more users join the network.
Additionally, NEAR offers Aurora, a Layer 2 solution that speeds up transactions and lowers costs, making it more attractive for users. At press time, NEAR Protocol is priced at $4.99, with a 2.45% increase over the past week. Over the last month, the price has grown by 25.70%.
The overall market sentiment surrounding the NEAR token is positive, with a Fear & Greed Index reading of 73, indicating optimism among investors. NEAR is trading above its 200-day simple moving average, a sign of potential long-term growth. In the last 30 days, there have been 17 days of price increases, showing consistent performance. The token also has strong liquidity due to its market capitalization, which supports trading activity.
According to Coincodex, NEAR Protocol is predicted to rise by 38.15%, possibly reaching $6.88 by November. Meanwhile, NEAR Protocol is a promising project in the blockchain space, making it one of the best cryptocurrencies to invest in right now.
3. Stellar (XLM)
The Stellar Development Foundation has partnered with Mastercard to improve the process of sending money using cryptocurrency. This collaboration will allow users to label remittances and peer-to-peer transfers on the Stellar network. It will also incorporate Mastercard’s Crypto Credential system, making it easier for users to interact with other blockchain networks.
One of the main aims of this partnership is to address the complicated user experience often associated with cryptocurrency transactions. With the Crypto Credential system, users will be able to send and receive cryptocurrency using just the recipient’s email address. This system operates in the background to link the sender and recipient, ensuring that the transactions comply with payment regulations.
Today at #Meridian2024 in London, we announced a new partnership with @Mastercard to integrate the company’s Crypto Credential solution with the Stellar network. https://t.co/twivBHsrpt
— Stellar (@StellarOrg) October 15, 2024
This collaboration coincides with the increase in the price of the XLM token. It is currently trading at $0.09357, showing an intraday rise of 1.01%. From a technical standpoint, the XLM token appears stable and has the potential for growth.
Furthermore, the 14-day Relative Strength Index (RSI) stands at 31.34, suggesting that the cryptocurrency is neutral and may trade sideways for now. The token also has a high 24-hour trading volume to market cap ratio of 0.0352, indicating good liquidity. Over the past 30 days, there have been 17 green days, suggesting some positive movement in the market.
4. Chiliz (CHZ)
Chiliz Chain recently partnered with Transfero Group to integrate BRZ, a stablecoin pegged to the Brazilian Real (BRL). This is the first stablecoin to be added to the Chiliz Chain, highlighting the platform’s efforts to engage the Brazilian market. The integration will allow Brazilian users easier access to Fan Tokens, which are digital assets linked to sports teams, and connect Brazil’s DeFi ecosystem with the global Fan Token market.
The goal is to grow the SportFi sector in the country by offering users a more seamless entry into blockchain-based sports and entertainment. Moreover, CHZ, the platform’s native token, is currently priced at $0.07925, reflecting a 2.80% drop in the last 24 hours. However, the token saw a 7.06% rise over the past week and has increased by 41% over the past year.
In the last 30 days, 70% of trading days have been positive, showing some stability. Chiliz is trading near its recent cycle high, and market sentiment is currently bullish, with a Fear & Greed Index score of 73, indicating confidence among investors.
Welcoming the first stablecoin on Chiliz Chain: $BRZ 🇧🇷
The @transferogroup has integrated $BRZ, the largest Brazilian Real-pegged stablecoin, into the Chiliz Chain ecosystem. The $BRZ integration is set to go live later this month.#ChilizChain ⚡ $CHZ pic.twitter.com/PcgKSaGGa6
— Chiliz – The Sports Blockchain ⚽🏆 (@Chiliz) October 16, 2024
The token also shows strong liquidity, with a 24-hour volume-to-market cap ratio of 0.4815, suggesting enough liquidity to support trading activity. Meanwhile, the BRZ integration could increase interest in Chiliz from the Brazilian market, while the token’s recent performance points to steady growth potential despite short-term fluctuations.
5. Flockerz (FLOCK)
Flockerz has raised over $700,000 during its presale, drawing attention to its Vote-to-Earn (V2E) mechanism. This model allows token holders to participate in project governance and earn rewards, offering a unique way to engage with decentralized finance (DeFi).
The Vote-to-Earn feature enables users to influence key decisions, such as expansion strategies, marketing plans, token burns, and feature development. In return for their participation in these governance votes, members receive FLOCK tokens. This aligns the interests of the community with the project’s overall direction, encouraging active involvement.
The flock is unstoppable! We’ve just hit $600K and we’re still climbing!
Huge thanks to everyone flying with us 💸💙 pic.twitter.com/OTf439IRKI
— Flockerz (@FlockerzToken) October 11, 2024
In addition, FLOCK is currently priced at $0.005793 per token, but this price is set to increase within two days. Analysts, including those from 99Bitcoins, have expressed optimism about the project’s growth potential. They draw comparisons to recent successful coins, suggesting that Flockerz could offer similar returns.
Read More
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage
