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The market has hit a greed score of 85 as crypto transactions keep soaring. This trend has intersected with the developing AI and gaming market, particularly boosting the appeal of altcoins. Hence, analysts are projecting a bullish trend fueled by these favorable developments, expected to elevate prices and market sentiment.
In light of this, altcoins present a compelling prospect for traders seeking to revamp their portfolios, offering avenues for investment diversification. This article compiles a selection of standout altcoins that warrant attention for potential investment in the present market climate.
5 Best Altcoins to Invest in Right Now
Solana surged over 12% amidst a widespread crypto upturn, accompanied by the rise of AI-based tokens. Altcoins such as Axelar, Fetch.ai, and Synthetix are attracting notice as promising investment opportunities. Their robust performance indicates substantial potential for future market expansion.
1. Fetch.ai (FET)
Fetch.ai’s utility token, FET, is steadily climbing the market ladder, particularly within artificial intelligence (AI) tokens. Through the utilization of FET, users gain the ability to construct and launch their digital twins on the network. In addition, developers can tap into machine-learning-based tools to train autonomous digital twins and implement collective intelligence across the network. These functionalities have propelled FET to the forefront as the adoption of AI tokens increases.
The price of FET has been on a parabolic ascent, recently reaching a new all-time high of $1.67. This marks a substantial increase over the past four weeks. Moreover, this upward trajectory saw a breakout from the $0.85 horizontal resistance zone, catapulting FET to its record-high price today.
Meanwhile, this surge could persist as the market sentiment surrounding Fetch.ai is currently bullish. Likewise, trading activities are high, as the Fear & Greed Index indicates extreme greed at 80. However, this could signal a market correction.
Looking at FET performance metrics, it printed 254% on a YTD, bettering tokens like Bitcoin and Ethereum. Additionally, it is trading above its 200-day SMA, indicating sustained upward momentum.
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— Fetch.ai (@Fetch_ai) February 29, 2024
With 21 green days recorded in the last 30 days, constituting 70% of the period, FET demonstrates consistent positive momentum. Furthermore, it boasts high liquidity based on its market capitalization.
In recent trading sessions, FET has showcased resilience. It found support at $1.25 and continues its upward trajectory with significant trading volume. This robust performance suggests that the next target of $2.4 may be attained sooner than anticipated.
2. Axelar (AXL)
During the recent surge in the crypto market, AXL has captured significant attention following its rally of nearly 30%. This surge coincides with Binance’s announcement of initiating trading for specific AXL pairs. This further fuels bullish sentiments among traders and investors worldwide.
Moreover, market data reinforces this optimism, reflecting a positive trajectory in line with AXL’s recent remarkable performance. Notably, Binance’s previous listings have historically triggered substantial price shifts for various tokens, intensifying the anticipation surrounding AXL’s listing.
Meanwhile, a trader secured a notable profit of $56,028 within 8 minutes through AXL trading. Spotonchain analysis revealed that this trader swiftly acquired 317,322 AXL tokens with an investment of 500K USDT immediately after Binance’s listing announcement. Subsequently, capitalizing on a nearly 20% rally, the trader sold the acquired tokens for 556K USDT. On a positive note, this has amplified market optimism as AXL’s price continued its upward trajectory.
🚨 @Ripple and @Axl_Foundation are 🤝, supporting a pioneering step forward for XRP Ledger 🚨
🧵 👇 pic.twitter.com/1WPrAisMoL
— Axelar Network (@axelarnetwork) February 27, 2024
As of the latest update, Axelar’s price is $2.51, marking a significant increase of 60.87% within 24 hours. The token is trading near its all-time high of $2.62 and its cycle high of $2.53. This indicates positive performance compared to its initial token sale price.
Additionally, AXL is trading above its 200-day simple moving average, further solidifying its bullish outlook. Furthermore, AXL has demonstrated high liquidity based on its market capitalization, contributing to its attractiveness among investors and traders. With 18/30 green days, AXL continues to draw market attention as a promising asset to consider.
3. SingularityNET (AGIX)
AI development has been swiftly growing, drawing increased attention to AI projects. Building on the current fanfare around AI, SingularityNET stands out as a pioneering platform. It streamlines the process for developers to showcase their AI tools and libraries to potential buyers. This platform offers a unique feature that allows potential buyers to try any AI service in the marketplace. Likewise, it ensures it aligns with their requirements before making a purchase.
With the ongoing surge in the leading AI coins, AGIX has surged to a new all-time high, experiencing a breakout rally. Moreover, the sentiment for SingularityNET’s price prediction is currently bullish. In line with this, investors transact the coin, propelling the Greed score to 80.
Furthermore, SingularityNET has exhibited positive performance compared to its token sale price. Plus, 18 out of the last 30 days have seen green candlesticks, indicating a 60% increase. Meanwhile, trading activities are hovering near the cycle high of $0.887169, its high liquidity based on market capitalization.
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— SingularityNET (@SingularityNET) February 27, 2024
SingularityNET is trading at a remarkable 252.47% above the 200-day Simple Moving Average (SMA), which is $0.240109. In the weekly chart analysis, the AGIX price trajectory is poised to surpass the $1 mark. This marks the fifth consecutive positive week for SingularityNET, driving the bull run to a 213% increase with multiple green candles.
According to Fibonacci levels, there is a projected potential for AGIX’s price to reach the $1.61 mark in the forthcoming weeks. This is indicative of a promising outlook for investors monitoring the coin.
4. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix is offering a solution to the challenges faced by Bitcoin miners. Along these lines, the project’s innovative approach to cloud mining aims to revolutionize the sector by providing a secure and transparent alternative for individuals keen on Bitcoin (BTC) mining.
One of the primary issues tackled by Bitcoin Minetrix is the prevalence of scams and the problem of outdated hardware in the mining industry. By tokenizing cloud mining, the platform ensures a safer environment for investors, eliminating concerns regarding fraudulent activities and the need for constant hardware upgrades.
In addition to its innovative approach, Bitcoin Minetrix’s presale has garnered significant attention from the market. With a total raised of $11,620,712 and a current token value of $0.0138, investors have a unique opportunity to participate in the project’s growth.
Stage 29 of #BitcoinMinetrix has now begun! 🟢
What are the economic incentives for #Bitcoin miners? pic.twitter.com/XAdC1a4qOH
— Bitcoinminetrix (@bitcoinminetrix) March 1, 2024
Notably, 708,286,822 BTCMTX has already been staked, offering an attractive Annual Percentage Yield (APY) of 59%. As Stage 29 of the presale begins, investors are encouraged to consider the potential benefits of participating in Bitcoin Minetrix.
Visit Bitcoin Minetrix Presale
5. Synthetix (SNX)
Synthetix (SNX) has established a solid support level at $4. As such, it is now poised for a potential surge towards its initial target of $10 within a shorter timeframe. Meanwhile, analysts have noted a prevailing bullish sentiment surrounding Synthetix’s price prediction. This market mood coincides with a Fear & Greed Index currently indicating a level of 80, with investors trading the coin.
Over the past year, Synthetix has demonstrated notable growth. This includes a remarkable 52% price increase, outperforming half of the top 100 crypto assets. Additionally, it has consistently traded above its 200-day simple moving average. Moreover, SNX has shown positive performance relative to its token sale price. In addition, it has experienced 18 green days out of the last 30, indicating a 60% positive trend.
Stake $SNX on Optimism or Ethereum to receive weekly fees from:
– Synthetix Perps on Optimism
– Spot Synths on MainnetThis week's total: ~$617k sUSD, mostly from Synthetix Perps trading fees on Optimism. pic.twitter.com/k5LJBjQQy9
— Synthetix ⚔️ (@synthetix_io) February 29, 2024
With its increased partnerships and the impending bull run, Synthetix appears poised for substantial growth. On this note, analysts project SNX’s price to surpass $7.95 by 2024. Furthermore, in a bullish crypto market scenario, the average price of Synthetix is anticipated to stabilize around $7.24 by the same year.
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