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The Bitcoin Halving event is on the horizon, signaled by fluctuating market performances. Based on historical data, the period leading to the Halving event is usually accompanied by a dip in market capitalization and trading volume.
Nonetheless, smart investors leverage this dip to search for altcoins with promising upsides. This search aims to capitalize on the Altcoin season that follows the Bitcoin Halving. InsideBitcoins provides further insight by pinpointing altcoins worthy of investor consideration.
5 Best Altcoins to Invest in Right Now
Investors are honing in on tokens such as NEAR Protocol, ORDI, and Injective, seeing them as promising investment opportunities amid expectations of the next bullish market cycle. This heightened interest boosts investor confidence, prompting them to reassess and optimize their investment portfolios.
At the same time, Bitcoin Minetrix has captured considerable market interest, securing over $12.9 million in funding during its presale period. However, Bitcoin is experiencing a decline following better-than-expected U.S. job growth figures for March.
1. NEAR Protocol (NEAR)
NEAR Protocol has witnessed a downturn in price movement, with a slight 8% decrease over the past week. However, zooming out, its performance over broader time frames reveals remarkable growth. On a month-to-date basis, NEAR has printed over a 50% surge while hitting more than a 500% rise in the past six months.
Furthermore, NEAR is hovering between $6.74 and $7.98, trading at $7.09 in the last intraday session. Its price has soared by an impressive 254% on a YTD, signaling a sustained uptrend. Moreover, NEAR trades above its 200-day simple moving average, indicating positive momentum.
From cross-chain innovations to the convergence of AI and blockchain, @buidl_asia & @eth_seoul_ experienced more than just a touch of Chain Abstraction last week.
Missed it? Don't miss the catch up:https://t.co/pq2sL6o5Jd pic.twitter.com/bKNCGH841R
— NEAR Protocol (@NEARProtocol) April 3, 2024
Looking at the recent trend, NEAR could target its nearest resistance level at $8.67 if momentum continues to build. However, formidable obstacles lie ahead at the second resistance of $9.91. Conversely, downside protection can be found at $6.18, with stronger support at approximately $4.93. NEAR’s trajectory largely depends on market sentiment and its adoption progress. With 16 green days out of the last 30, sustained growth is believed.
2. ORDI (ORDI)
Coinbase’s institutional client-facing subsidiary has unveiled plans to list perpetual future contracts for the BRC-20 tokens Ordinals and Worldcoin on April 11. In an announcement on April 5, Coinbase International Exchange declared that it would list perpetual futures products for ORDI and WLD as early as April 11. As such, these futures will be made accessible to institutional investors on Coinbase International and Coinbase Advanced.
The introduction of perpetual futures contracts for ORDI and WLD reflects the platform’s commitment to providing diversified investment opportunities for institutional players. Moreover, this development expands the range of financial instruments available and reflects the growing maturity of the crypto derivatives market.
In reaction to this news, ORDI’s hit a northbound movement, rising 9.65% in the last intraday session to $64.99. Trading near a cycle high of $66.70, the coin ORDI trades 383.02% above the 200-day SMA of $13.55, indicating a strong bullish trend.
Furthermore, recent market trends reveal that ORDI has enjoyed a series of positive trading sessions, with 15/30 days showing green candlesticks. The overall market sentiment is positive, coupled with a Greed score of 75, indicating a prevailing greed among market participants.
3. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix’s market entry seeks to tackle challenges within the Bitcoin cloud mining sector. Introducing a revolutionary Stake-to-Mine mechanism, it harnesses smart contracts on the Ethereum network. This groundbreaking approach enables users to stake and burn tokens for mining hash power, tackling the sector’s notorious issues of scams and unreliability.
Moreover, the project has garnered significant attention, securing over $12.9 million in its current presale phase. With a total stake of 765,244,774 BTCMTX tokens, Bitcoin Minetrix offers an estimated annual rewards rate of 55% at 158.5 per ETH block.
As Stage 35 of Bitcoin Minetrix’s presale kicks off, investors have a strategic four-day window before an anticipated price increase. This offers an opportunity to capitalize on the current token price of $0.0145 before any potential rise.
Stage 36 of #BitcoinMinetrix is now underway! 🎉⛏️
We are now in the last 4 Stages!
What resources do you recommend for beginners interested in learning about #Bitcoin mining? 📚 pic.twitter.com/qsaRIsdcon
— Bitcoinminetrix (@bitcoinminetrix) April 5, 2024
Investors seeking a dependable and innovative cloud mining approach are attracted by Bitcoin Minetrix and its Stake-to-Mine mechanism. With its impressive fundraising and promising rewards structure, the project aims to revolutionize and fortify the cloud mining sector.
Visit Bitcoin Minetrix Presale
4. Injective (INJ)
Injective has just launched its latest upgrade, the Injective Bridge Ionic, aiming to add notable improvements to the DeFi space. This upgrade introduces enhanced functionality and a smoother user experience. In addition, it represents a significant step forward in improving interoperability within the crypto sphere.
Moreover, INJ’s market performance has reacted positively to this news, resulting in increased fanfare—injective trades at $34.72, reflecting a 10.10% increase over the past 24 hours. Meanwhile, investors are bullish on INJ, accompanied by an increased market greed.
Injective is trading 214.33% above its 200-day simple moving average, currently at $11.02. Over the past year, it has demonstrated remarkable growth, with its price soaring by an impressive 503%. This performance has outpaced 88% of the top 100 crypto assets, including major players like Bitcoin and Ethereum.
1/ The ionic upgrade of the Injective Bridge unveils the most advanced interoperability solution in crypto.
Choose from 16+ chains to bridge into Injective seamlessly, including @Ethereum, @Solana and @Cosmos, unifying the largest chains in the industry.
— Injective 🥷 (@injective) April 5, 2024
One of Injective’s key strengths lies in its high liquidity, which is driven by its robust market capitalization. This positive liquidity profile is further reflected by its performance relative to the token sale price.
In summary, the Injective Bridge Ionic upgrade further solidifies Injective’s position as a frontrunner in the DeFi space. With its continued growth trajectory and strong market fundamentals, Injective remains a promising investment opportunity.
5. Theta Network (THETA)
Theta Token is on an uptrend, prompting investors to consider it among the best altcoins to invest in right now. In the last intraday session, THETA has printed a 5.88% increase, trading at $2.67. The token is positioned 100.79% above the 200-day simple moving average, as its positive performance further reflects its potential.
Theta Token has showcased robust growth over the past year, surpassing Bitcoin and Ethereum. Despite its recent dip, compelling signs suggest a significant turnaround for Theta Token. Analysts point towards a potential golden crossover on the weekly chart, indicating a potential long-term trend reversal. Hence, Theta Token could approach the 200-week Exponential Moving Average (EMA), with the prospect of a golden crossover bolstering investor confidence.
Moreover, with the upcoming Bitcoin halving this month, there’s anticipation for a further boost in Theta Token’s price, potentially reaching $5.28 at the 38.20% Fibonacci level. Likewise, the growing bullish sentiment presents an intriguing opportunity for THETA traders and investors to monitor closely.
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— Theta Network (@Theta_Network) March 31, 2024
Theta Token is primed for a potential upswing, supported by strong technical indicators and positive market sentiment. However, investors should track its developments in the coming weeks before deciding.
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