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Teong Hng, CEO of crypto investment firm Satori Research, pointed out a resurgence in alt-season similar to early 2021. This has notably impacted altcoins like Solana and Avalanche, which saw significant value spikes.
On Wednesday, SOL and AVAX tokens surged over 10%, placing them among this year’s top gainers in the larger token market. This surge highlights the increasing importance of altcoins in the crypto market and why investors should capitalize on these tokens.
5 Best Altcoins to Invest in Right Now
Foresight Ventures has unveiled its third accelerator program launch with a substantial $10 million investment to bolster blockchain and Web3 innovation. The recently announced program, open for applications until January 15, 2024, is targeted at startups specializing in artificial intelligence, Bitcoin Ordinals, and direct-to-consumer protocols.
This particular accelerator cohort is noteworthy for its focus on fostering companies engaged in these domains. The funding support for qualifying startups falls between $200,000 and $500,000, providing a notable financial boost for selected participants.
1. Hedera (HBAR)
Hedera recently teamed up with WalletConnect, a move set to improve how users interact with web3 ecosystems. This collaboration will make it easier for developers to create dApps and wallets. Hence, it allows them to focus on innovation while ensuring a smoother user experience.
Expected to roll out fully in January 2024, this integration aims to gather feedback for further improvements. It’s a strategic move that could simplify processes and enhance the overall user experience within Hedera’s ecosystem. This could spark new ideas and collaborations.
Moreover, the community is excited about this partnership, seeing it as a significant step for Hedera. With user-friendly tools and guides, the goal is to strengthen Hedera’s position in the web3 world, promising better features and experiences.
Wallets are integral to all #web3 ecosystems, serving as the primary network access point for community members, developers, and enterprises. With @WalletConnect on #Hedera, we are in the final stages of enhancing that experience for all.
The culmination of this community-led… pic.twitter.com/nCP8JB3cYo
— Hedera (@hedera) December 18, 2023
Over the last year, HBAR’s price has risen significantly, surpassing most of the top 100 crypto assets. Furthermore, the consistent positive trading days and its position above the 200-day moving average indicate strong liquidity based on its market cap.
2. aelf (ELF)
Aelf has made important advancements to improve how it connects with other networks through eBridge. This feature allows smoother transfers of ELF tokens between aelf, Ethereum, and BSC. To support this, aelf has moved around 1.75 million ELF tokens from its administrative address to eBridge. This is aimed at making it easier for ELF holders on other networks to switch to the aelf Mainnet.
In addition, aelf plans to eliminate about 1.05 million BEP-20 ELF tokens from the Mainnet swap. This is to streamline the swapping process, making it more efficient for users within the aelf ecosystem.
📢aelf will allocate 1.75M $ELF to eBridge, the first cross-chain bridge on aelf, and burn ~1.05M BEP-20 ELF tokens from our mainnet swap.
A key move for #blockchain innovation and interoperability.🔥
🔗Read more via linkhttps://t.co/hTXuvIffce#Web3
— ælf (@aelfblockchain) December 20, 2023
The outlook for aelf’s price is positive, with a Fear & Greed Index showing a value of 74 (Greed). Over the last year, aelf’s price has soared by 480%. This growth has been stronger than 91% of other top 100 crypto assets, surpassing Bitcoin and Ethereum. Plus, aelf’s trading is consistently above the 200-day simple moving average, indicating a stable position in the market.
3. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix is a cloud mining platform aiming to tackle concerns around cloud mining scams. It offers a transparent way for people to mine Bitcoin (BTC) in a decentralized manner. Over 400,000 BTCMTX tokens are locked in staking, indicating significant user participation.
One notable aspect is the current annual percentage yield (APY) of 103,225%. However, this rate may decrease as more tokens are staked. Regarding token distribution, 42.5% of BTCMTX tokens fund mining operations, and 35% are for marketing and BTCMTX growth. Furthermore, 15% are for community rewards, and 7.5% are for staking rewards until the platform is developed.
#BitcoinMinetrix has successfully raised more than $5,400,000! 🪙 pic.twitter.com/eD8FvCkXJQ
— Bitcoinminetrix (@bitcoinminetrix) December 19, 2023
The project has raised over $$5,581,527 through its presale, offering BTCMTX tokens at $0.011 each. During this phase, 2.8 billion BTCMTX tokens (70% of the total supply of 4 billion) are available for purchase using Ethereum (ETH) or Tether (USDT).
Likewise, the minimum investment required is $10, making it accessible to many investors. Considering a potential token price increase, interested investors might act before the two-day window closes for the current pricing. Similarly, the stage 14 presale ends in three days.
Visit Bitcoin Minetrix.
4. BNB (BNB)
Binance has recently displayed notable price movements, exhibiting resilience above the $230 mark and a steady upward trajectory. This positive momentum surpassed significant resistance levels at $240 and $242, notably outperforming Ethereum and Bitcoin in recent sessions.
Several key observations emerge when analyzing the BNB/USD pair on a 4-hour chart. BNB successfully breached the 76.4% Fibonacci retracement level of the downward movement from its $257.1 swing high to the $231.9 low. A significant breakthrough occurred as the price surpassed a crucial bearish trend line around the $252 mark. Moreover, it consolidates its position above $250 and the 100 simple moving average (4 hours).
Furthermore, the current price action signals a favorable outlook, indicating potential upward movement beyond the $258 resistance zone. A conclusive breach of the $262 level could trigger further positive movement, potentially testing the $272 threshold.
The BNB Beacon Chain, designed for staking and governance, once vital to BSC, is evolving 🔮 👀
With changes in the blockchain landscape, redundancy and complexities prompt the discontinuation of the Beacon Chain.
Read ahead to learn more 🧵 [1/5]https://t.co/8MfyU5vuRk
— BNB Chain (@BNBCHAIN) December 19, 2023
This level aligns closely with the 1.618 Fibonacci extension level from the previous downward swing. This suggests a potential bullish trend toward the $285 resistance level. It’s worth noting that the historical high for BNB during the last cycle peaked at $386.87. Presently, market sentiment leans bullish, supported by a Fear & Greed Index reflecting a value of 74 (Greed).
5. Theta Token (THETA)
Theta Token, valued at $1.047991 with a market cap of $912.28 million, has shown notable trends and statistics over the past year. Within the last 12 months, its price has surged by 38%, reflecting an upward trajectory.
This growth has placed Theta Token above its 200-day simple moving average, indicating a bullish market sentiment. Its performance relative to the initial token sale price has also been positive, suggesting investor confidence and a favorable return for early backers.
The recent trading activity further underscores Theta Token’s momentum. Over 30 days, it has experienced 15 positive price movements, constituting 50% of the observed period. This consistent string of green days hints at sustained buying interest within the market.
Notably, Theta Token exhibits high liquidity, as indicated by its substantial market capitalization within the cryptocurrency space. It currently holds a dominant position, ranking #22 in Ethereum (ERC20) Tokens. Moreover, it is placed #4 in NFT Tokens and the Metaverse sector and #34 in the Layer 1 sector.
Today @PogDigital launches a new collection of vintage POG collectibles, originally co-created with Coca-Cola in the 1990s, as digital collectibles exclusively on Theta blockchain!
Exclusively on POGCHAIN.https://t.co/IZP2jziS2a
— Theta Network (@Theta_Network) December 15, 2023
The sentiment surrounding Theta Token’s price prediction remains neutral, indicating a balanced outlook among market observers. Concurrently, the Fear & Greed Index suggests a level of 74 (Greed), reflecting a prevailing sentiment of enthusiasm and a potentially heightened market appetite.
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