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Today’s market dynamics reflect a blend of enthusiasm and caution. Sentiments remain notably neutral, with a total trading volume surpassing $80.2 billion in the last 24 hours. This is indicated by the crypto Fear & Greed Index registering a reading of 49, firmly in the “Neutral” territory.
A select few cryptocurrencies have delivered substantial returns to investors. Others have, however, seen their market value decrease significantly. This article looks at some altcoins that are currently worth considering.
5 Best Altcoin to Buy Now
Some altcoins experiencing notable upswings are Ocean Protocol, Stellar, OKB, and Polladot. Since its launch, OKB has seen explosive growth, accumulating over 1,883.5% in profit. This move has seen analysts suggest an upward price movement might be on the horizon.
Meanwhile, PlayDoge’s timing allows investors to participate in a potential meme coin rally. It particularly favours investors who missed out on earlier meme coin booms. Early investors can join a wagon that may see the token push to a nearly 500% uptick.
1. Ocean Protocol (OCEAN)
Ocean Protocol, Fetch.ai, and Singularity BET have launched the much anticipated Artificial Superintelligence (ASI). The announcement has sent a ripple effect through the crypto community, and the value of OCEAN has recovered from a recent price slump. Crypto analysts forecast that the alliance will position ASI among the top 20 Crypto mergers, as the market cap is projected to exceed $7.5 billion.
Meanwhile, Ocean Protocol is a project that enables users to monetize their data and data-based services. The project’s innovative strategy of empowering users to monetize their data has thrust OCEAN into the limelight since the boom of IoT. The significance of Ocean Protocol is further emphasized due to data leaks and data selling on social media.
Following the announcement of phase 1 of the ASI merger, the value of OCEAN rose by over 15% before a brief pull. As of today, OCEAN is trading at $0.6098. This price signifies that the token is up 1.2% over the previous day.
Today marks a major step towards decentralizing AI, with the ASI token swap Phase 1 going live. Phase I ensures smooth onboarding for exchanges and data aggregators: OCEAN (@oceanprotocol) and AGIX (@SingularityNET) merge into FET (@Fetch_ai), they are delisted from exchanges,… https://t.co/IkMNacAUJR
— Ocean Protocol (@oceanprotocol) July 1, 2024
Furthermore, the Ocean Protocol token trades 30% and 23% above its 50-day and 200-day Simple Moving Average to demonstrate its short-term and long-term profitability. Technical analysis shows that the token’s RSI is steadily climbing out of the oversold region, which indicates that the bulls are starting to regain control.
2. Polkadot (DOT)
Polkadot leverages a unique layer-0 metaprotocol to enable scalability and flexibility. The project utilizes this protocol to process transactions in parallel across multiple chains. It also allows users to develop several custom blockchains which can be connected using the Substrate framework.
The shared, open-source multichain platform expands blockchain interoperability across several blockchains. It enables the cross-chain transfer of assets and data, fostering a decentralized internet of blockchains called Web3. Also, Polkadot’s remarkable upgradeability enables users to update their assets and data without forks automatically.
Meanwhile, the token’s DAO has voted to create a bridge connecting Polkadot to the Cardano network. This collaborative project seeks to address interoperability issues prevalent in the crypto market. The announcement has been met with a positive reaction from the Polkadot community.
Say hello to the new and improved Polkadot @Ledger App ✨
Thanks to the efforts of @_zondax_, Alzymologist, and @paritytech, parachains can now upgrade to the latest runtime for compatibility, unlocking unprecedented convenience and a unified user experience.
👀 Already have… https://t.co/ZZ3kxKwReT
— Polkadot (@Polkadot) July 1, 2024
Today, DOT trades at $6.01, indicating a 1.2% increase in the last 24 hours. The token displays a 14-day RSI of 50.9, signifying it could trade sideways. Also, it trades above its 200-day Simple moving average and has posted 20 green days in the last 30 days.
3. OKB (OKB)
The value of OKB has surged near its ATH due to the recent bullish sentiment in the crypto market. Over the past week, OKB has experienced a remarkable 32.67% increase to post a new ATH of $58.37. This significant rise is supported by an increase in trading activity implying a spike in investors interest
This upward trajectory is also due partly to recent positive announcements from OKX’s founder, Mingxing “Star” Xu. Consequently, OKB value has increased to approximately $42.73, reflecting a 1.33% increase. This uptick follows Xu’s disclosure that OKBChain will be developed under the direct supervision of OKX, distinguishing it from the community-operated OKXChain.
Meanwhile, OKB is approaching the $50 threshold after a week of consistent gains. Historically, the token’s price peaked at $58.46 in February before falling below $50. However, recent trends indicate a potential recovery.
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— OKX (@okx) July 1, 2024
Furthermore, the token’s recent rally was also driven by OKX’s promotional initiatives, such as discounted tickets and NFT airdrops for the Hong Kong Web3 Festival. The launch of the OKX Web3 Yield Aggregator, providing up to 30% APR, has contributed to the rise in OKB’s price. Analysts anticipate that OKB could attain $64.93 before the end of July.
4. PlayDoge (PLAY)
PlayDoge has attracted considerable attention by raising over $5.2 million in its ongoing presale. The token is priced at $0.00514 and is expected to increase as the presale progresses. This strong performance demonstrates high market expectations for PlayDoge’s success following its launch.
The project draws inspiration from the 1990s virtual pet game Tamagotchi, which modernized this nostalgic concept and sold over 82 million units. The platform enables users to revisit their childhood memories with the added incentive of real crypto rewards. Participants earn experience points (XP) by nurturing their virtual pet doge and engaging in minigames, enhancing their standings on the project’s leaderboard.
Another essential feature of PlayDoge is its share-to-earn protocol, which incentivizes community members to promote the token actively. Participants accumulate convertible points into PLAY tokens, fostering a vibrant and engaged community. This dynamic participation has the potential to positively bolster the token’s valuation.
In summary, PLAY’s blend of nostalgic appeal, multichain functionality, and effective community engagement strategies make it a standout choice among tokens worth considering for investment. The ongoing success of its presale and strategic initiatives indicates a promising future for the project.
5. Stellar (XLM)
Stellar’s recent performance suggests signs of price recovery after trading near its historical low this year. The token trades at $0.09393, reflecting a 2.5% increase in the last 24 hours. With the crypto market’s recent positive trends, the token may still ignore another extended price rally.
Meanwhile, investor involvement in the Stellar token has surged, signalling a possible price increase soon. This positive sentiment is evident in the Relative Strength Index (RSI), which recently jumped into overbought territory at 60 after a protracted period in the neutral zone around 50.
Having risen from its support level of $0.09 to its current trading price of $0.9393, the token faces a crucial resistance at $1.25. Overcoming this resistance could further ignite an appreciation of the token’s value. This could establish a higher support level for XLM and potentially surge above other altcoins.
Stellar is celebrating 10 years of building better! Here's to an ecosystem leading in real-world utility 🎂
— Stellar (@StellarOrg) July 1, 2024
Moreover, the upward movement of the RSI and positive market trends are instilling confidence in XLM’s recovery. Additionally, the market’s positive funding rate, where long position holders compensate short position holders, reflects investor optimism regarding potential price gains. This indicates a bullish sentiment among investors, who strategically position themselves at entry points in anticipation of an upward trajectory.
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