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Crypto transactions are rising, pushing the overall market greed score by three places to 92. This reflects investor confidence in exploring promising tokens with potential returns during the upcoming bullish market. On this note, Altcoins are becoming an appealing investment opportunity for investors who want diverse entry points.
However, selecting the right altcoin demands dedicated effort and comprehensive research. This article seeks to ease this process by spotlighting several standout altcoins worthy of investment consideration.
5 Best Altcoins to Invest in Right Now
As Bitcoin surges past $72,000, hitting a new all-time high, Toncoin, XRP, and Avalanche are emerging as promising choices for investors in the upcoming Alt-season. This trend revitalizes confidence among investors in the altcoin market, leading them to revise their portfolios actively.
1. Toncoin (TON)
Toncoin demonstrates an impressive northbound trajectory, printing gains in the current market rally. Over the past month alone, Toncoin has surged by 46.82%, showcasing a consistent upward momentum. This trend has been constant in the last three months, with a 48.98% increase.
Hence, this affirms Toncoin’s consistent bullish performance in the medium term. Zooming out to assess its long-term potential, Toncoin boasts a 39.13% rise in price over the past year, indicating its sustained growth and promise. Furthermore, Toncoin’s price prediction remains bullish, especially with heightened investor interest. This is complemented by a Fear & Greed Index at 81, signaling increased transactions.
Meanwhile, 18 green days were recorded in the past 30 days, indicating positive momentum. Toncoin’s trajectory is further bolstered by its 51% increase in price over the last year and its position above the 200-day simple moving average. Currently, it is trading at 76.58% above the 200-day SMA, which sits at $2.03. On this note, Toncoin continues to outperform market expectations.
Reflecting on its past performance, Toncoin reached its all-time high of $4.91 on December 25, 2021. Afterward, it experienced a cycle high of $3.32, with a low point at $0.757304. Despite recent volatility, with a 1-month volatility rate 12.76, Toncoin has been on an upward trajectory supported by notable partnerships.
🔈 @ston_fi, a leading TON-based DEX, launched a Telegram Mini App with @wallet_tg integration!
Swap Jetton tokens seamlessly within the app, connect your wallet, and access all DEX features directly on @telegram. More details👉 https://t.co/bsZ5Nqm2Qe pic.twitter.com/OM9dfR4QhX
— TON 💎 (@ton_blockchain) March 12, 2024
The momentum began with Telegram Messenger’s announcement of compensating channel owners with cryptocurrency for advertising. Similarly, Binance’s introduction of perpetual futures trading for the TON token further fueled Toncoin’s growth trajectory. With Toncoin’s recent achievements and promising outlook, investors continue to monitor its performance.
2. Avalanche (AVAX)
South Korean game publisher Nexon Group has partnered with Ava Labs to launch its iconic 2D mass multiplayer online role-playing game, MapleStory, on the Avalanche platform. With a history dating back to 2003, MapleStory boasts over 180 million worldwide users. As such, this collaboration could improve visibility and adoption for both parties.
Meanwhile, this news has turned investor attention toward the coin. Avalanche’s price is $50.16 after hitting a 6.11% intraday increase in the last intraday trading session. In addition, the Avalanche price prediction is bullish, with a Greed score of 81, signifying extreme greed among investors.
Moreover, Avalanche has demonstrated positive performance compared to its token sale price. It has also experienced 15 green days out of the last 30, representing 50% of the period. Avalanche is hovering near its cycle high at $51.19, indicating strong liquidity based on its market cap.
Teleporter unifies Avalanche’s network of application-specific chains, enabling the sharing of a wide variety of data types, including tokens, NFTs, oracle price feeds, and more.
Read more about the launch of Teleporter from @TheBlock__ https://t.co/OitlZGuCkl
— Avalanche 🔺 (@avax) March 12, 2024
Over the past year, Avalanche’s price surged by an impressive 220%, outperforming 64% of the top 100 crypto assets during this period. Moreover, it trades well above its 200-day SMA of $15.75, indicating a robust performance trend.
In summary, the collaboration between Nexon Group and Ava Labs to bring MapleStory to the Avalanche platform ignites significant interest in the gaming token sector. Avalanche’s robust performance and bullish sentiment signal favorable conditions for potential investors seeking opportunities in this space.
3. eTukTuk (TUK)
eTukTuk offers a promising solution targeting sustainable transport in developing nations and beyond. Leveraging blockchain technology, eTukTuk aims to revolutionize transportation. It addresses the environmental concerns linked with traditional tuk-tuks, notorious for their high pollution levels.
1/ In a collaboration between Fraunhofer IPA, Black Forest Campus, and industry partners, the "H2FastCell" project introduces a game-changing robot duo for rapid fuel cell stack assembly 🚀 pic.twitter.com/8sQCpwY6ZW
— eTukTuk (@eTukTukio) March 8, 2024
Moreover, the project’s white paper underscores the detrimental impact of internal combustion engine (ICE) tuk-tuks. Likewise, it focuses on other two—and three-wheeler vehicles in developing nations and the urgent need for sustainable alternatives.
The eTukTuk’s presale has also gained considerable traction, raising over $1.99 million in the ongoing presale. Currently valued at $0.028 per $TUK token, there is anticipation for a surge in its value as the presale enters its next phase in 5 days. This presents a potential opportunity for investors to capitalize on the current token price and APY of 126% before a price increase.
4. Injective (INJ)
Injective, a leading decentralized exchange platform, recently expanded its ecosystem by integrating with Ethena Labs. This marks its first venture beyond the Ethereum network. This integration brings significant advancements, especially for the Injective Bridge Chain (IBC) community and users. In addition, it grants access to USDe, Ethena’s innovative synthetic dollar.
USDe offers users a censorship-resistant, stable, and scalable solution for the digital asset market. This aligns with Ethena’s mission to revolutionize decentralized finance (DeFi). In less than a month, Ethena has garnered nearly 1 billion dollars in Total Value Locked (TVL), showcasing its growing influence.
This integration marks the inaugural launch of USDe on Injective and signifies the first step beyond the Ethereum native ecosystem. Users across Injective, Cosmos, and the broader IBC ecosystem can now seamlessly access USDe, leveraging Injective’s implementation of Ethereum standard EIP-712.
Furthermore, Injective recently introduced inEVM, a live mainnet rollup designed to accelerate concurrent Virtual Machine (VM) development. InEVM empowers Ethereum developers to build decentralized applications (dApps) at unprecedented speed. Plus, it does this with minimal fees while maintaining composability across WebAssembly (WASM) and Ethereum Virtual Machine (EVM).
1/ Injective #inEVM is live on mainnet, the first ever rollup designed to supercharge concurrent VM development.
inEVM enables Ethereum developers to build dApps that leverage blazing fast speeds & near zero fees while achieving composability across WASM and EVM
Read on 👇 pic.twitter.com/OXtPQTVnvx
— Injective 🥷 (@injective) March 7, 2024
This groundbreaking infrastructure stack facilitates multi-VM development at an unparalleled scale. It allows builders to create dApps that uphold superior performance standards and seamlessly interact across multiple ecosystems, including IBC and Solana. INJ value has surged by 18.11% in the last 24 hrs, currently trading at $47.96. In addition, INJ is trading above its 200-day simple moving average and near its all-time high, reflecting positive market sentiment and performance.
5. XRP (XRP)
Recent data from Whalealert indicates significant movements in the XRP market. Crypto whales have transferred over 285 million XRP coins, equivalent to approximately $194 million, across various exchanges. The largest single transaction involved the transfer of 100 million XRP, valued at around $62 million, from one wallet to another.
Meanwhile, further analysis reveals a notable accumulation of XRP by whale wallets from the exchange Binance. Within the past 24 hours, this accumulation totals nearly 100 million XRP coins, valued at approximately $65 million. Among these transactions, the largest accumulation amounted to 20.3 million XRP, worth approximately $15 million.
As a result of these whale movements, XRP experienced a significant price surge of nearly 20% within the last 24 hours. This surge adds to XRP’s impressive performance over the past year, with a remarkable 94% increase in price. Additionally, XRP is trading above its 200-day simple moving average, indicating a positive trend.
Regarding market sentiment, XRP has seen 19 green days out of the last 30, accounting for 63% of the period. This suggests a favorable outlook. Moreover, XRP maintains high liquidity based on its market capitalization. In summary, these performances reflect XRP’s arrival to the rally market, heightened by significant trading transactions pushing the Greed score to 81.
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