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Identifying promising tokens can be a game-changer for investors seeking avenues beyond Bitcoin and Ethereum. These coins present many innovative projects, each vying for attention and investment.
With continuous market shifts, picking the best assets to invest in requires understanding potential standout performers. Since this requires time and effort, Insidebitcoins regularly compiles a list of the best altcoins to invest in. Hence, this aids investors in making better investment decisions.
5 Best Altcoins to Invest in Right Now
Over the past seven days, several altcoins have experienced notable price surges. BNB recorded a substantial increase of 16%, as S&P Global Market Intelligence reported. Additionally, MultiversX and Optimism’s tokens demonstrated similar gains of 16%. Meanwhile, Theta Network observed a nearly 10% rise.
1. Klaytn (KLAY)
The integration of ERC3643 tokenization into the Klaytn network is progressing through collaboration with Tokeny Solutions. This integration focuses on compliant Real World Asset (RWA) tokenization standards. Moreover, this initiative aims to provide up-to-date, compliant infrastructure for asset tokenization on Klaytn.
ERC3643, introduced by Ethereum, promises to transform how businesses engage with blockchain tech. Its official recognition underscores Ethereum’s commitment to meeting user needs and setting industry benchmarks.
In terms of supply, Klaytn has 3.48 billion KLAY in circulation out of a total supply of 10.95 billion. Over the past year, 457.03 million KLAY were created, attributing to a 15.13% yearly supply inflation rate. Based on the market cap, it currently holds the #42 position in the Layer 1 sector.
ERC3643 tokenization is coming to #Klaytn.
with @TokenySolutions, our long term RWA partner we will ensure that all the latest in compliant RWA tokenization standards and infrastructure are implemented and available on Klaytn.— Klaytn Developers (@BuildonKlaytn) December 21, 2023
Furthermore, Klaytn’s market performance has fluctuated, hitting its highest price of $4.35 on April 2, 2021. Meanwhile, it was at its lowest point at $0.055524 on May 6, 2020. Presently, it stands at $0.277573, marking a 55% increase in the past year. Klaytn is trading above its 200-day moving average. Moreover, it has 15 positive trading days out of the last 30, reflecting 50% positivity. Plus, its liquidity remains high based on market capitalization.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix is a cloud mining platform aiming to address concerns regarding third-party cloud mining scams by introducing tokenization. The project boasts a decentralized approach to Bitcoin (BTC) mining, emphasizing security and transparency.
With over 400,000 BTCMTX tokens currently staked, there’s notable participation. However, the advertised annual percentage yield (APY) of 103,225% is subject to decrease as more tokens get staked.
Regarding token allocation, 42.5% of BTCMTX tokens fund mining operations, while 35% fund marketing and project growth. Additionally, 15% is set aside for community rewards, recognizing active engagement. In addition, 7.5% is for BTCMTX staking rewards until the cloud mining platform’s development.
Just one day until #BitcoinMinetrix Stage 16 wraps up! ⏱️
What common misconceptions about #Bitcoin mining have you encountered? 🤔 pic.twitter.com/7dzGrEFVxW
— Bitcoinminetrix (@bitcoinminetrix) December 31, 2023
Furthermore, the project’s presale has raised over $7,114,646 by offering BTCMTX tokens at $0.0125 per token, with 70% of the total token supply available during this phase. Investors can acquire tokens using Ethereum (ETH) or Tether (USDT) with a minimum investment requirement of $10.
3. Maker (MKR)
Maker coin has witnessed significant accumulation recently, as reported by market experts. Over the past week, three new wallets collectively purchased MKR worth 18.6 million.
Notably, these buyers withdrew tokens from Binance. This indicates an intent to hold MKR in self-custody, potentially anticipating a price surge. Moreover, this accumulation trend preceding the end of 2023 suggests a potential bullish outlook for MKR heading into 2024.
Furthermore, MKR’s circulating supply stands at 919,937 MKR out of a maximum supply of 1.01 million MKR. MKR has experienced a negative yearly supply inflation rate of -5.90%. This figure equates to the creation of -57,694 MKR in the past year. Regarding market capitalization, Maker holds the #8 position in the DeFi Coins sector and ranks #17 among Ethereum (ERC20) Tokens.
Meanwhile, the tokens’ highlights include MKR’s impressive 244% price increase over the past year. Additionally, MKR is trading above its 200-day simple moving average and near its cycle high. The project boasts high liquidity based on its market cap. Also, its negative yearly inflation rate adds an intriguing facet to its supply dynamics.
Even prior to the SparkDAO launch, Spark has exemplified SubDAO's superior operational efficiency through the creation of innovative products and the execution of growth strategies.
What can we anticipate from the development of the SubDAOs in the future? pic.twitter.com/WYOiIBiKmD
— Maker (@MakerDAO) December 5, 2023
MKR has exhibited historical price fluctuations, reaching its peak value of $6,244.44 on May 3, 2021. However, the coin hit its lowest point of $171.27 on March 16, 2020. Since the previous low, the price has ranged from $503.28 to $1,762.18. Market sentiment leans toward a bullish trajectory for MKR, with the Fear & Greed Index indicating a score of 65 (Greed).
4. Akash Network (AKT)
Over the past year, the AKT token has surged impressively, marking a 12x increase in value. This surge signals a positive sentiment toward the token within the crypto community. The price trend indicates a potential challenge to its major resistance level at $6. Therefore, this positions it as a contender for the upcoming bullish market cycle.
Looking back at its price history, Akash Network hit its peak value on April 6, 2021, reaching an all-time high of $8.04. Conversely, its lowest recorded price occurred on November 21, 2022, dropping to $0.166008, marking its cycle low. Notably, the token reached its highest post-cycle low at $2.61.
Furthermore, the prevailing market sentiment leans strongly bullish regarding Akash Network’s price prediction. Likewise, the token has recorded a Fear & Greed Index of 65, reflecting a “Greed” state.
Mixtral-8x7B is now available in Akash Chat.
Mixtral is one of the best performing currently available models, even outperforming Llama 70B on most benchmarks — with 6x faster inference.
It's available right now in Akash Chat. Try it today:
→ https://t.co/O0kUSzM10T pic.twitter.com/PDPglUCiGp— Akash Network (@akashnet_) December 29, 2023
Comparatively, Akash Network has displayed exceptional performance metrics. This includes a 1,229% surge in price over the past year, outperforming 98% of the top 100 crypto assets. Moreover, the token consistently traded above its 200-day simple moving average.
AKT has also demonstrated positive performance compared to its token sale price. Additionally, within the last 30 days, it experienced 17 positive trading days, accounting for 57% of the observed period. In addition, AKT is Ranked #17 in the Proof-of-Stake Coins sector and #6 in the AI Crypto sector by market capitalization. These indicators highlight Akash Network’s prominence and traction within the cryptocurrency landscape.
5. Kava (KAVA)
Kava has seen a bullish sentiment in price predictions while displaying a 65 on the Fear & Greed Index, indicating a state of greed among investors. Over the past year, its price surged by 66%, currently at $1.314440, marking a notable increase from the previous cycle low.
Regarding market positioning, Kava holds the 10th position in the DeFi Coins sector and ranks 38th in the Layer 1 sector. Notably, it has consistently traded above the 200-day simple moving average. In addition, it has experienced 15 positive trading days in the last 30, accounting for 50% of the period.
📣 Staking Rewards Update
Starting Jan 1, 2024, all #KAVA staking rewards will be sourced from the Kava Strategic Vault.
Zero Inflation = no new coins minted. Fixed supply 🔒
— Kava (@KAVA_CHAIN) December 26, 2023
An additional strength of Kava lies in its high liquidity, reflected by its market capitalization. This liquidity can significantly influence price stability and trading volumes within the market.
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