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Several altcoins, including RUNE and DOGE, are drawing attention due to recent analysis indicating they could be on the verge of breaking their weekly resistance levels. Historically, such breakouts have triggered significant price surges.
Meanwhile, market experts believe that the recent pullbacks in Bitcoin’s price were likely a calculated move by large investors, or “whales,” as they position themselves for an upcoming bull market. The analysts examined Bitcoin’s chart patterns, comparing them to past trends. They also noted how Ethereum and other altcoins have been setting up for prolonged rallies in recent months. Amid this market project, investors are searching for the best altcoins to buy now.
5 Best Altcoins to Buy Now
Stacks, the Bitcoin network’s smart contract layer, recently achieved a milestone by exceeding 1,400 smart contract deployments in a month. Meanwhile, Toncoin (TON), a cryptocurrency linked to the Telegram platform, saw a significant decline last month, losing over 20% of its value.
In contrast, Crypto All Stars (STARS), a new meme coin, has gained traction during its presale, reaching a $1.1 million mark. MicroStrategy’s Michael Saylor also forecasted that Bitcoin could soar to $13 million by 2045.
1. Stacks (STX)
Stacks recently surpassed 1,400 smart contract deployments in a month, a 30% increase over the previous month, as announced by the network. The growth comes ahead of the full activation of the much-anticipated Nakamoto upgrade, which began rolling out at Bitcoin block 840,360 on Aug. 28.
The rising interest in Bitcoin Layer 2 (L2) projects is reflected in venture capital investments, with over $94.6 million allocated to such initiatives in the second quarter of 2024 alone.
Experts see potential in Stacks’ ability to tap into an estimated $800 billion of latent capital within the Bitcoin ecosystem. This growing ecosystem could significantly expand BTC’s utility beyond traditional uses.
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The rise of Stacks is inevitable 🟧 pic.twitter.com/e0TpFb2UZR
— stacks.btc (@Stacks) September 9, 2024
The performance of the Stacks token has also been notable. STX trades at $1.53, following a 7.70% intraday rally. It has gained 241% in the past year, outperforming 86% of the top 100 crypto assets. The token trades above the 200-day simple moving average and has shown consistent momentum. For instance, it has recorded 15 positive trading days out of the last 30. Additionally, its liquidity remains strong to its market cap
2. Bittensor (TAO)
Bittensor is a decentralized network that merges blockchain technology with artificial intelligence (AI). Implementing Proof of Learning (PoL) ensures that nodes contribute reliable AI models while safeguarding user privacy. Its cross-chain functionality and native token, TAO, aim to expand the decentralized AI ecosystem, fostering collaboration within the community.
TAO’s PoL mechanism rewards only those nodes that provide successful AI models. This approach incentivizes the development of capable AI systems, maintaining performance standards across the network. Additionally, Bittensor’s token economy, driven by TAO, encourages participation from node operators and developers.
As of today, Bittensor’s token, TAO, is priced at $277.43, reflecting a 10.74% rise in the past 24 hours. Over the last year, its value has surged by 474%, outperforming 92% of the top 100 cryptocurrencies.
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Currently, it is trading 127.22% above its 200-day simple moving average, indicating strong upward momentum. With 15 green days in the last month, Bittensor shows positive short-term trends. Predictions suggest that TAO may rise significantly, reaching $897.19 by October 2024, representing a 227.33% increase.
3. Artificial Superintelligence Alliance (FET)
The collaboration between Artificial Intelligence (AI) and the crypto industry is deepening as both sectors evolve. A notable development is the launch of the native FET token (soon to be renamed ASI) on the Cardano blockchain by SingularityNET and the Artificial Superintelligence Alliance. This initiative marks a merger between SingularityNET, Fetch.ai, and Ocean Protocol.
The ASI token is priced at $1.14, reflecting a 5.79% increase in the past 24 hours. This contrasts with its overall trend over the past week, during which it saw a 4.0% decline, dropping from $1.20 to its current value. The token’s all-time high remains at $3.45.
Analyzing recent price movements, we observe varying volatility levels. The price has seen significant movement over the last 24 hours in the short term, while the past week’s fluctuations show a different trend. The Bollinger Bands in the charts demonstrate this volatility, with wider bands indicating greater price swings.
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This feature ensures that the wallet and its contents remain secure, even if the device is accessed by… pic.twitter.com/vi4rc08kd1
— Fetch.ai (@Fetch_ai) September 9, 2024
Over the past week, trading volume has decreased by 39.0%, which contrasts with a slight increase in circulating supply, rising by 0.11%. The current circulating supply is 2.52 billion, representing about 95.84% of the maximum supply of 2.63 billion. Fetch.ai, or FET, holds a market cap ranking of 32 and is valued at $2.87 billion.
4. Toncoin (TON)
Toncoin (TON), a cryptocurrency closely tied to the Telegram platform, experienced a sharp decline last month, dropping over 20% in value. This downward movement followed the arrest of Telegram CEO Pavel Durov.
However, Toncoin’s price began recovering this week, climbing back to around $5. Market analysis suggests a potential breakout above $5.5 by week’s end. If this occurs, it could pave the way for a further rise past $6, positioning Toncoin as a noteworthy altcoin.
Trading activity has markedly increased, with a 148% surge in volume over the past 24 hours, as reported by CoinGlass. The total value of perpetual futures on TON reached $511.25 million, while spot market trading grew by 115%, totaling $300 million in a single day.
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As a Telegram Mini App built on #TON, it… pic.twitter.com/pY6IjHI2Ab
— TON 💎 (@ton_blockchain) September 10, 2024
Toncoin’s price today sits at $5.24, a 6.07% increase over the past 24 hours. Over the past year, the coin has seen a 206% rise and is trading 158% above its 200-day simple moving average (SMA) of $2.03, indicating strong performance relative to its historical price. This recent uptick and the increased trading activity suggest that Toncoin remains a cryptocurrency to watch, especially as it approaches potential cycle highs.
5. Crypto All Stars (STARS)
Crypto All Stars (STARS), a new meme coin, has been gaining attention during its presale, recently reaching a $1.1 million milestone. This achievement suggests growing demand, likely driven by its unique MemeVault protocol. MemeVault, the first multi-chain, multi-token staking program, has attracted significant interest due to its innovative features.
The support from holders of popular meme coins like Dogecoin and Pepe also contributes to the project’s momentum. Some traders predict STARS could see substantial growth post-launch, with estimates as high as 100x returns.
Currently priced at $0.0014362, STARS tokens are available through the presale, offering participants various payment options such as ETH, USDT, BNB, and credit cards. The presale’s flexibility may attract a broader range of investors ahead of the token’s upcoming decentralized exchange listing.
To strengthen its credibility, Crypto All Stars has undergone audits by SolidProof and Coinsult to enhance investor confidence in the project’s security. Furthermore, endorsements from influencers like YouTuber Jacob Bury and crypto analyst ClayBro have boosted the coin’s visibility, particularly within the SHIB Army.
A notable feature of Crypto All Stars is its staking mechanism, which promises an estimated annual yield of 1245%. This presents an appealing opportunity for those seeking passive income.
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