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On Monday, the cryptocurrency market experienced significant selling pressure, with Bitcoin plummeting by nearly 5% below $60,000. This downward trend extended to the altcoin market, affecting major assets such as Ethereum. As a result, the overall crypto market saw a collective decrease of nearly $1.2 billion in value.
Amidst the extended correction, our in-house analysts have selected 6 promising altcoins, such as Bitget Token, Jito, Injective, and Ankr Network. These cryptocurrencies present an excellent buying opportunity for investors on the sidelines looking to benefit from the market dip.
5 Best Altcoin to Invest in Now
INJ holders are strategically adjusting their portfolios in anticipation of an upcoming partnership deal. The token exhibits strong resilience, reflected in a Fear and Greed Index score of 81. Meanwhile, Ankr has experienced a 7% surge over the past seven days, indicating a notable shift in investor sentiment toward the token.
Furthermore, Solana’s recent blockchain initiatives are capturing attention, notably Mega Dice, a gaming and gambling token that has rapidly gained popularity since its presale began. Mega Dice has already raised over $1 million, underscoring substantial interest in this innovative concept.
1. Injective (INJ)
Injective has forged partnerships with Noble and Clusters. Through its collaboration with Noble, Injective gains direct access to USDC issued on the platform, enabling users to seamlessly utilize native USDC across various dApps within the ecosystem, such as HelixApp. Also, integrating with Clustersxyz facilitates a unified identity across Ethereum, Solano, and Injective.
Meanwhile, despite its early stages, the token has swiftly garnered attention within the crypto market. The project has successfully attracted numerous DeFi initiatives, bolstering its ecosystem’s foundational infrastructure. Recent successful funding rounds underscore its expanding presence in the DeFi space, highlighting its growing significance.
Moreover, it is ranked 4th in the AI crypto category. The token also has a high liquidity based on its market cap. Also, Injective is trading 266.48% above the 200-day simple moving average. It indicates positive performance compared to its token sale price and trading near its cycle high.
Brand new website just dropped for the Injective Builder House!
The exclusive event will bring together the best developers, institutions and companies in all of Web3 during @EthCCweek.
Register Here: https://t.co/JvUu2Qj58o pic.twitter.com/X3qndZ7wtB
— Injective 🥷 (@injective) June 20, 2024
These developments have sparked enthusiasm around $INJ, driving a 9.01% increase in its value. Currently, Injective is trading at $23.00, with a 24-hour trading volume reaching $163 million. Investors’ sentiment analysis suggests a bullish outlook, suggesting the potential for continued upward momentum. As a result, the Greed score has risen to 81, reflecting heightened buying pressure.
2. Ankr Network (ANKR)
Ankr Network is a unique project developed to streamline web3 development. It offers a blockchain-based cross-chain infrastructure facilitating decentralized finance (DeFi) and application (dApp) development. Ankr is also known for its staking protocol, Stkr, which supports ETH staking and provides substantial liquidity for Ethereum 2.0 stakers.
Meanwhile, investors are optimistic about Ankr’s prospects, reflected in a bullish sentiment. This surge in positive sentiment has elevated the Greed score to 81, indicating strong investor and trader confidence. The general market recovery has also seen market participants closely tracking ANKR’s trajectory, buoyed by increasing transaction volumes.
Furthermore, ANKR is presently trading at $0.03197, boasting a market capitalization of $449 million and over $82 million in total value locked (TVL). The current price marks a 7% rise in the last 24 hours and an impressive 5945.3% increase from its all-time low on March 13, 2020.
Web3 is all about decentralized interactions 🌐 and leveraging distributed systems for the benefit of all ✨
Ankr RPC endpoints power these interactions with reliable, high speed, and often free service 🚀
Connect today 🔗https://t.co/lliCbHbzx7
— Ankr (@ankr) June 25, 2024
Moreover, Ankr Network trades 91.69% above the 200-day Simple Moving Average (SMA). These metrics indicate a strong bullish trend. The crypto has also experienced 21 green days out of the last 30. Therefore, the daily close price has consistently surpassed the daily open price.
3. Mega Dice (DICE)
Mega Dice, a well-established casino, seeks to revolutionize the GameFi sector. This token not only incentivizes existing users but also entices new ones, forming a cornerstone of Mega Dice’s strategy for gamification. Interestingly, Mega Dice is poised to lead the way in crypto casinos by introducing daily rewards tied to platform performance.
Solana’s recent blockchain initiatives are drawing attention, particularly Mega Dice (DICE), a gaming and gambling token that has rapidly gained traction since its presale launch. With over $1.5 million raised, Mega Dice is demonstrating substantial interest in its innovative approach within the gaming industry.
The Mega Dice presale has been extraordinarily successful, surpassing substantial funding milestones and illustrating a robust demand for its token. Due to their accessibility and limited availability, $DICE tokens are highly sought after, generating significant interest among potential investors.
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— Mega Dice Casino (@megadice) June 25, 2024
Currently, each $DICE token is priced at $0.0825. Mega Dice has already sold nearly $25 million worth of $DICE tokens. Following the presale, Mega Dice plans to list $DICE tokens on decentralized exchanges (DEXs), which could further bolster their appeal and accessibility.
4. Jito (JTO)
Jito’s team has unveiled plans for the ‘Eigen Layer of Solana’ project, aiming to emulate the success of Eigen’s layered solutions. The successful launch of this project could potentially replicate the excitement and attention that drove a significant rally in the token’s price.
Recently, the token emerged as the leading DeFi protocol on the Solana network, closing the week with a total value locked (TVL) of over $1 billion. This substantial increase triggered a significant surge in the price of the Jito token, which rose by 8.5% over the week.
Despite these developments, the restaking protocol has struggled to gain significant traction. Also, Jito’s recent airdrop had little impact on its short-term performance. However, JITO has recorded 20 positive price movements in the last 30 days, underscoring its strong momentum and appeal.
Viral apps can change a landscape in under 6 months.
Who's building the app that will onboard 100M people to @solana?
— Jito (@jito_sol) June 21, 2024
The token is priced at $2.43, reflecting a 1.89% increase over the past seven days and an 8.12% uptick in the last 24 hours. Additionally, the token demonstrates strong liquidity, which is evident from its substantial market cap. Market sentiment towards Jito’s price outlook remains optimistic, supported by a Fear & Greed Index score of 68 (Greed).
5. Bitget Token (BGB)
Bitget has introduced three Launchpool promotions: DOPE, ZK, and ENA. Participants can stake BGB or USDT to earn token rewards, with the added advantage of instantly redeeming BGB and USDT after staking. This recent initiative has enhanced the token’s resilience despite current market conditions.
Despite a brief recovery, the Bitget token still suffers the effects of the recent market downturn, resulting in a drop in price over the past few days. However, Bitget’s platform token, BGB, has begun to display signs of recovery. The token has defied the prevailing downtrend, posting a 4% intraday increase.
Furthermore, BGB has recorded 18 out of 30 days with its price closing in green candlesticks, reflecting a notable 60% positivity rate. It is currently priced at $1.1, indicating a bullish trajectory. Despite this, the Fear & Greed Index has dropped to 70, reflecting the broader market decline. Meanwhile, Bitget Token has grown significantly, surging by 201% over the past year.
Given these developments, analysts anticipate an upward trend for BGB. This prediction is further supported by the expansion of Bitget Exchange’s presence. The next significant target for Bitget Token is projected to be $2.10, offering potential gains for investors within a shorter timeframe.
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