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As the market continues to rally, investors are filling their portfolios with promising tokens, many showing significant gains. With major market players appearing out of reach, altcoins are becoming increasingly attractive for savvy investors looking to enter the market intelligently.
Nonetheless, choosing the right altcoin requires dedication and thorough research. This article aims to streamline the decision-making process by identifying several standout altcoins investors should consider.
5 Best Altcoins to Invest in Right Now
As the altcoin season nears, THORChain, Akash Network, and EOS emerge as standout options, boasting unique features and promising market prospects. Concurrently, cryptocurrencies rebound following Bitcoin’s retreat from its recent all-time high.
1. THORChain (RUNE)
Thorchain is showcasing signs of entering the bull run with increased optimism in the market outlook. Notably, its performance above the 200-day Exponential Moving Average (EMA) demonstrates a robust recovery trend since late 2023. Moreover, Thorchain has also drawn the attention of HODLers, anticipating significant price growth.
Furthermore, Thorchain’s price chart showcases volatility since the beginning of the year. This volatility indicates substantial fluctuations in buying and selling pressures within the coin’s market. Meanwhile, Thorchain has recorded a Year-to-Date (YTD) valuation surge of 23.79%, signaling increased buying activity within the crypto space.
RUNE exhibits a bullish trajectory on market metrics, hinting at positive price movements shortly. Technical indicators align with this sentiment. The Moving Average Convergence Divergence (MACD) also displays a consistently green histogram and ascending averages. Also, the Cross EMA 50/200-day curve indicates a bullish trend, suggesting the potential for significant price actions ahead.
What happens next:
1) 100% of nodes update: V1.128 code path executed
2) 60,000,000 $RUNE moved into RESERVE and insta-burned
3) Lending Caps opened ~$100m in Collateral Space opened
4) Resume onboarding collateral at a rate of $1m/dayWho's ready? https://t.co/qfN1VVWTC2
— THORChain (@THORChain) March 6, 2024
Therefore, experts suggest that in the event of continued bullish momentum, Thorchain’s price is expected to challenge its previous high of $7.310 in the coming days. Conversely, a reversal in trend could lead to a loss of momentum, which could drive the price to test its support level at $5.360 within the upcoming week.
2. Akash Network (AKT)
Decentralized cloud computing is gaining traction, shifting focus to Akash Network for its innovative approach. On this note, the market is growing as AKT’s sentiment is bullish. This, combined with increased trading volumes, has raised the greed score to 82.
Over the last 30 days, Akash Network has experienced 18 green days, constituting 60% of the period. It is presently trading near its cycle high at $6.24. Meanwhile, AKT printed 14.91% in the last 24 hours, reaching $6.12.
The remarkable performance continues over the past year, with a staggering 1,510% increase in price, outperforming 97% of the coins. Additionally, Akash Network maintains a positive trajectory, trading 506.79% above its 200-day simple moving average of $1.0128.
NVIDIA earnings for Q4 just surpassed expectations by a massive margin, a healthy sign that the demand for GPUs remains strong.
Akash is supporting this sustained demand by providing permissionless access to GPUs to power AI, machine learning, and decentralized applications.
— Akash Network (@akashnet_) February 21, 2024
Considering its innovative features and strong community backing, Akash Network’s AKT Coin is poised for further growth. However, cautious optimism prevails as our price prediction suggests a potential maximum price level of $4.82 by the end of 2024.
3. Kava (KAVA)
The proposal to launch Wagmi Leverage Products on MetisL2 and KAVACHAIN has been successfully approved with an overwhelming 86% majority vote. The deployment on Kava scheduled for next week begins with deploying and activating leverage on the Metis network today.
Meanwhile, Kava Chain began the year positively, achieving a significant milestone on January 1, 2024, as the KAVA token inflation reached zero. This move marked the first hard-capped, highly decentralized Proof-of-Stake layer-1 blockchain. Over half of the 1 billion KAVA token supply is securely locked in the community-controlled Strategic Vault.
Kava Chain’s development journey showcases its consistent growth and innovation. Moreover, it reflects adaptive leadership and a relentless drive for evolution within the Web 3 space. In 2024, Kava Chain is all set to impact on-chain finance significantly.
This is driven by strategic innovation and a renewed commitment to decentralization and community expansion. Furthermore, Kava’s price prediction is positive, with the consistent green candlesticks in the last month signaling a bullish outlook. In line with this, the coin transaction is high, with a greed score of 81, indicating confidence.
Presently, the KAVA price stands at $1.033250, printing an intraday increase of 6.86%. Kava’s closing prices have bettered the opening price in 21 of the past 30 days. In addition, the coin has high liquidity based on its market cap, demonstrating robust market performance.
🔊 Attention Kava Chain users 🔊
All BEP3 assets will be migrated to Binance Smart Chain around April 30th to streamline asset transfers, improve security, and pave the way for more efficient financial operations.
Read the full announcement:
https://t.co/buccMFtrFF— Kava (@KAVA_CHAIN) March 7, 2024
Over the past year, Kava has seen a 22% price increase and trades 31.13% above the 200-day simple moving average at $0.788257. Backed by strong fundamentals and a dedicated crypto community, Kava has the potential to achieve significant milestones in the future.
Equally, collaborations with other networks could influence the KAVA Coin to surpass the $2.43 mark by 2024. In a positive crypto market scenario, the average price of the Kava Coin is anticipated to hover around $2.20 by the same year. This presents an exciting opportunity for investors seeking growth in the crypto space.
4. EOS (EOS)
The recent announcement from Yves La Rose, CEO of EOS, regarding the intention to cut EOS’s total supply by half has sparked significant interest among crypto investors. Consequently, this decision has propelled the price of EOS to $1.2102, indicating a positive response from the market.
While Bitcoin aims for the $68,000 mark, EOS’s optimistic news has contributed to its current price hovering around $1.25. Moreover, the Fear & Greed Index of 81 suggests a prevailing investor confidence despite the ongoing adjustment phase.
Meanwhile, the potential impact of EOS’s supply cut on its market valuation is eagerly anticipated. Speculation suggests a surge in price beyond $2 billion, which could drive the coin’s price over $2, attract more investors, and reshape its market dynamics.
Only 146 days until the most monumental upgrade in $EOS history!#SAVANNA #InstantFinality
Learn more 👇https://t.co/gcVABP8EDF pic.twitter.com/Cs8rwIzqWB
— EOS Network Foundation (@EOSNetworkFDN) March 7, 2024
Hence, experts and investors closely monitor EOS’s developments, anticipating a new price equilibrium. Additionally, if the reduced supply is well-received, EOS may experience sustained price growth, further enticing investors.
5. eTukTuk (TUK)
The eTukTuk presale has reached a significant milestone, surpassing $1.8 million in funds raised, indicating strong investor interest. The project, centered around green initiatives and AI-driven efficiency, offers an appealing opportunity for investors to purchase and stake tokens with a promising 137% APY. Currently priced at $0.02775, there’s potential for future value surges as the project advances.
The eTukTuk protocol optimizes transportation routes using TUK tokens, thereby reducing traffic congestion and fuel consumption and promoting sustainable transport practices. Additionally, the project is committed to supporting green transportation through AI research, aligning its presale efforts with environmental goals.
GM!
If you are still skeptical about participating in our pre-sale
Give this a read:https://t.co/QkBxPmk6H4
— eTukTuk (@eTukTukio) March 7, 2024
Furthermore, eTukTuk is pioneering smart infrastructure utilizing AI-enhanced blockchain technology, driving real-time green initiatives. This dedication to eco-friendly innovations positions the project as a leader in advancing sustainable practices.
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