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Investors are expanding their portfolios by exploring promising tokens with potential for returns in the upcoming bull run. While major market players may seem out of reach, altcoins are emerging as attractive investment opportunities for smart investors.
However, choosing the right altcoin requires thorough dedication and extensive research. This article aims to simplify the decision-making process by highlighting several standout altcoins worth considering for investment.
5 Best Altcoins to Invest in Right Now
The Graph, Polygon, and Render have emerged as standout options for inventors in the impending Alt-season. Meanwhile, BlackRock’s Bitcoin ETF is nearing 200,000 BTC, surpassing Michael Saylor’s MicroStrategy. This development has reignited optimism among investors in the altcoin space, prompting them to update their portfolios actively.
1. The Graph (GRT)
TalentLayer has successfully integrated its subgraph into The Graph Network to improve decentralized access to on-chain data. TalentLayer is an open protocol and API connecting various marketplaces. Likewise, it empowers developers to create diverse applications, ranging from freelance platforms to AI-driven recruitment agents.
While this news did affect GRT’s price, the coin’s outlook has been positive. The GraphGraph (GRT) was up by 12.12% in the last intraday trading session, reaching $0.442159. This upward trend aligns with the bullish sentiment surrounding its price prediction.
As a result, the Greed score has risen to 79, signaling increased token transactions. Moreover, The Graph boasts robust liquidity with a high 24-hour volume-to-market cap ratio of 0.2602, reflecting its market cap strength.
Furthermore, a closer look at The Graph’s performance reveals consistent growth. The token trades well above its 200-day simple moving average (SMA) of $0.117455. Notably, The Graph has demonstrated remarkable growth, surging by 294% over the past year.
The Graph supports @Blast_L2 Mainnet data since launch 🤝
Need ultra fast & reliable access to Blast data?
Use Subgraph Studio to build Blast subgraphs for performant, responsive dapps 💪
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— The Graph (@graphprotocol) March 8, 2024
Furthermore, it outperformed 74% of the top 100 crypto assets, including Bitcoin and Ethereum. This positive momentum is further highlighted by 20 consecutive green days within the last 30 days, indicating favorable trading conditions.
Since its inception, The Graph (GRT) has showcased substantial growth within the crypto market. In line with this, it has delivered promising returns to initial investors. With its limited token supply and strong community support, the future outlook for The Graph Coin appears promising. Its consistent performance and integration within the decentralized ecosystem further support this.
2. Polygon (MATIC)
Polygon’s adoption in the market is increasing due to the growing need for scalability. The platform offers a user-friendly Ethereum scaling and infrastructure development environment through the Polygon SDK. This tool is a modular and adaptable framework supporting various application types.
To utilize the Polygon CDK module, Astar Network has partnered with Polygon to build a performant ZK-powered Layer 2 rollup, Astar zkEVM. As such, Astar zkEVM becomes the first chain fully integrated with the AggLayer. This integration facilitates seamless cross-chain transactions, enhancing the overall efficiency and usability of the ecosystem.
Meanwhile, Polygon’s price prediction outlook has been bullish with the overall positive market outlook. In line with this, the prevailing sentiment of Extreme Greed has pushed the Fear & Greed Index to 79. Currently priced at $1.216797, Polygon has witnessed a notable increase of 6.53% in the past 24 hours.
Moreover, trading activity has surged, with a 39.23% uptick in 24-hour trading volume, reaching $877,980,452. From a technical standpoint, Polygon is exhibiting positive signs by trading 45.62% above its 200-day simple moving average. Polygon has printed a 19% surge on a YTD basis, indicating sustained growth momentum.
TGIF, anon.
Here’s the Polygon DeFi Weekly Roundup signed, sealed and delivered – we know you’ve been waiting for this.
Check it.
—1. @AlchemyPlatform offers up to 6 months of free Subgraphs for new Polygon zkEVM and Polygon PoS developers, building DeFi protocols, games or… pic.twitter.com/LE7WhPVc07
— Polygon DeFi (@0xPolygonDeFi) March 8, 2024
Additionally, recent market activity highlights 16 green days in the last 30 days, representing 53% of trading days with positive performance. Furthermore, Polygon demonstrates high liquidity based on its market capitalization, showcasing its investor’s appeal.
3. Render (RNDR)
Render Token is ranked among the top 100 tokens by market cap and has been on a solid growth path since its launch. As a major player in rendering solutions, Render Network has actively participated in decentralized AI talks over the past two weeks.
Meanwhile, Render Token’s outlook is positive, coinciding with the overall market sentiment. The coins Fear/Greed index is also high, with trading transactions pushing it to 79. Boasting a 24-hour volume-to-market cap ratio of 0.3234, the Token maintains good liquidity relative to its market cap.
Over the last 30 days, Render Token has seen positive price moves on 20 occasions. This shows green days where the closing price exceeded the opening price, with a success rate of 67%. Additionally, trading activities have consistently stayed above the 200-day simple moving average. The Token is trading at a remarkable 329.75% premium over the 200-day SMA, valued at $2.68.
[1/4] This week’s BTN previews #GTC24, the largest AI and GPU technology event of the year.
Read more to learn about breakthroughs in AI and GPU technology that are coming to GTC as well as the details of @julesurbach’s talk featuring @rendernetwork!https://t.co/J8lSTKT1Pd
— The Render Network (@rendernetwork) March 8, 2024
Moreover, Render Token’s performance over the past year has been outstanding, witnessing a significant price surge of 1,110%. Hence, analysts predict ongoing growth for Render Token, expecting to surpass $100 by 2030. Notably, Render Token is poised to hit a new all-time high in the ongoing rally.
4. WEMIX (WEMIX)
WEMIX is making waves with its recent announcement of a partnership with China’s leading gaming guild, CChallengerio. Strategically, this marks a significant step towards regional expansion for both parties. This partnership aims to unlock new opportunities and deliver unparalleled gaming experiences to users.
Under the banner of NightCrows, this collaboration seeks to redefine gaming experiences through OmnichainGaming. Introducing WEMIX PLAY heralds this new era, giving users enhanced freedom and security features.
Meanwhile, WEMIX Token’s price has increased due to this series of collaborations and gaming introductions. The coin is priced at $3.17, growing modestly by 1.80% in the last 24 hours. Despite a neutral sentiment in price prediction, the Fear & Greed Index registers at 79, indicating significant transactions. Notably, the token has surged 113% over the past year, reflecting a sustained upward trend.
WEMIX PLAY, Omnichain Gaming starts now!🚀#WEMIXPLAY is unveiling the era of #OmnichainGaming, breaking network boundaries for a seamless cross-chain experience, elevating user freedom, and PLAY Wallet has been updated to allow private key verification for added control and… pic.twitter.com/lTHex6MhJ7
— WEMIX (@WemixNetwork) March 7, 2024
Also, it trades significantly above the 200-day Simple Moving Average (SMA) by 122.37%. Backed by robust fundamentals and a dedicated crypto community, WEMIX holds promising potential for future growth. Hence, analysts suggest potential collaborations with other networks could drive the token’s price beyond $7.23 by 2024.
5. Smog (SMOG)
Smog’s market attention is growing, especially in the booming memecoin season. The coin has showcased consistently impressive performances, printing gains along the line. Despite this, the team is pursuing a multichain status to broaden its value and reach.
This initiative includes launching the token on additional decentralized exchanges (DEX) and centralized exchanges (CEX) platforms. Such milestones are expected to propel the project to unprecedented heights. Moreover, the project aims to execute the largest airdrop in Solana’s history. However, holders are required to engage in the staking plan to be eligible.
Regarding tokenomics, the $SMOG allocation earmarks 35% of the supply for airdrop rewards. This grants the Smog community access to this historic event on Solana. Moreover, marketing efforts are allocated 50% of the supply. Additionally, 10% is reserved for CEX launches, and 5% for adding liquidity for the DEX launch.
Picture a world without ever burning other #Memecoins with #SMOG! 🔥
Would be way too boring… 😴
— SMOG (@SMOGToken) February 27, 2024
In recent days, the Smog token experienced an impressive uptrend, potentially fueled by a surge in investors joining the Smog community. As the week progresses, market observers anticipate a potential resurgence in the asset’s uptrend, reflecting the growing interest in the project.
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