5 Best Altcoins to Invest in Right Now October 29 - Axie Infinity, Maker, GMX, Aave

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Axie Infinity, Maker, GMX, and Aave offer investors the opportunity to diversify their cryptocurrency holdings and maximize returns. These are the best altcoins to invest in right now, worthy of consideration.

Stablecoins continue to play a substantial role in the market, with a total trading volume of $18.22 billion. This comprises 85.48% of the entire cryptocurrency market’s 24-hour trading volume. Stablecoins, known for their stability, maintain a prominent presence in facilitating transactions and mitigating market volatility.

However, Bitcoin continues to hold a market dominance of 53.04%. This figure has seen a marginal increase of 0.07% over the day, emphasizing the enduring influence of Bitcoin within the cryptocurrency market.

5 Best Altcoins to Invest In Right Now

The cryptocurrency market has witnessed a slight increase in total market capitalization and a simultaneous decrease in trading volume over the past 24 hours. The importance of DeFi and stablecoins within the market is highlighted.

1. Axie Infinity (AXS)

Axie Infinity (AXS) has shown some promising signs in its recent price movement. The token is on the verge of a bullish breakout above the $5.00 mark, with a 20% recovery from its recent swing low. Moreover, a bullish reversal pattern has formed, and there is evidence of increased buying volume, indicating renewed interest from buyers.

For the past few months, AXS has been trading within a range of $4.00 to $5.00. Despite multiple attempts by buyers to breach the $5.00 resistance, they have been met with strong selling pressure, keeping the price within this range.

However, the recent upward movement in AXS is supported by a notable increase in buying volume. Additionally, the overall sentiment in the cryptocurrency market is bullish, positively influencing AXS.

The current price pattern for AXS is moderately bullish. Still, the real momentum is expected to kick in after a successful breakout above $5.00. Currently, AXS is trading at $4.80 with a minor intraday decline of -1.64%. Likewise, the 24-hour volume-to-market cap ratio stands at 11.58%.

The Axie Game Jam Voting Phase has begun!

Playtest and vote for your favorite games on Mavis Hub now. 👇

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This final phase of the Game Jam will run from October 29, 3 PM PH to November 5, 3 PM PH.

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— Axie Infinity (@AxieInfinity) October 29, 2023

When considering the AXS/BTC trading pair, it is trading at $0.0001403 with an intraday decline of -1.75%. Notably, while the AXS/USDT pair exhibits a bullish pattern, the AXS/BTC pair remains bearish.

Based on analysis, there is a suggestion that bulls are returning to the market, and the potential for a significant price increase is evident. AXS is gearing up for another attempt to break the $5.00 resistance level. If successful, it could lead to a notable 15% to 20% price surge.

2. Maker (MKR)

The Maker has exhibited substantial growth in the cryptocurrency market since its launch, providing early investors with impressive returns. The Maker DAO platform is known for its practical applications. Moreover, it actively engages in several initiatives, making MKR Coin a promising long-term project.

With a remarkable return on investment (ROI) of 16,337.24%, Maker stood out as one of the top-performing coins during the 2021 bull run. The token’s journey began in 2017, commencing at $24.42, and it has since maintained consistent momentum.

In just eight months, Maker Coin exceeded the $300 mark, registering a remarkable growth rate of 1250%. During the exuberant crypto market in 2021, MKR Coin celebrated its first year of listing.

Very interesting analysis from @BlockAnalitica on borrowers using rETH as collateral.

The biggest rETH-A positions move to @sparkdotfi as the Maker Protocol completes its offboarding process. https://t.co/qkXDLEBEAp

— Maker (@MakerDAO) October 27, 2023

A significant milestone for Maker Coin was reaching an all-time high of $1,773.92 in May 2021. Thus reflecting a staggering surge of over 7000% compared to its initial price. This performance outpaced many other prominent cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. These achievements underline the potential for Maker Coin to continue delivering strong performance in the years to come.

Maker’s live price is pegged at $1,442.22, with a 24-hour trading volume of $79,544,820. Maker currently holds the 36th position on CoinMarketCap, boasting a live market capitalization of $1,409,956,219. In addition, the circulating supply comprises 977,631 MKR coins, with a maximum supply capped at 1,005,577.

3. GMX (GMX)

GMX operates as a decentralized exchange, offering spot and perpetual trading options. The platform places a strong emphasis on minimizing swap fees and reducing price impact during trades.

One notable strength of GMX is its development team, which is well-regarded in the field. The potential applications of the platform have fueled optimism regarding the growth of GMX Coin. The cryptocurrency has been gaining traction in popularity and adoption, underpinning positive expectations for its future performance.

According to a GMX (GMX) price prediction, the maximum expected price for GMX Coin by the conclusion of 2023 is approximately $98.72. In a favorable market environment, the projected average price of GMX Coin in 2023 is around $89.26.

Stay up to date with this week‘s news from all around the $GMX ecosystem: https://t.co/oYnNuePyhV

— GMX 🫐 (@GMX_IO) October 21, 2023

However, in a bearish market scenario, the minimum anticipated price level for GMX Coin could decline to $84.13. A bullish rally is anticipated in the latter part of the year, potentially leading to GMX’s price increase.

As of the latest data available, the live GMX price currently stands at $45.13, with a 24-hour trading volume of $18,748,757. Moreover, GMX is ranked #87 on CoinMarketCap, with a live market capitalization of $412,858,195. The circulating supply of GMX coins amounts to 9,149,143, while information about the maximum supply is unavailable.

4. Aave (AAVE)

Aave (AAVE), a prominent participant in the decentralized finance (DeFi) sector, recently entered into a strategic partnership with the Tokenized Asset Coalition. This collaboration aims to promote the utilization of public blockchains and the tokenization of real-world assets. While the initial impact of this partnership was positive, driving Aave (AAVE) prices from $55.1 to $64.4 within a month, the long-term implications remain uncertain.

At present, Aave (AAVE) is trading within a price range of $56.5 to $73.6. The 10-day moving average, currently at $70.1, suggests a short-term uptrend for the coin. However, the 100-day moving average, at $63.6, indicates a more stable long-term trajectory.

Notable support levels can be identified at $28.4 and $45.5, potentially attracting buyers. On the other hand, resistance levels at $79.5 and $96.6 may serve as barriers where selling pressure could intensify.

The recent performance of Aave (AAVE) has been noteworthy, indicating significant support from traders and a strong upward trend.

From a technical standpoint, AAVE/USD has formed a bullish channel, well supported by the 10-day moving average at $70.1. This suggests ongoing buying pressure in the market, potentially leading to further price growth in the short term.

The final vote on Events Funding for the Aave Companies & Aave DAO collaboration is underway. https://t.co/UqNvLg2ed7

— Aave Labs (@aave) October 23, 2023

The Relative Strength Index (RSI) has surged over the last 24 hours, signaling buyer dominance. Additionally, the Fibretracement tool shows that AAVE has broken the significant resistance level at $83. This breakthrough opens up the possibility for further gains above $100.

5. yPredict (YPRED)

yPredict’s YPRED token has recently garnered attention within the cryptocurrency market as an AI utility coin. The platform offers a diverse array of AI applications, catering to various use cases for its users. YPRED token holders are given attractive incentives, including staking rewards and discounts on yPredict’s tools, designed to encourage them to retain their investments.

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— yPredict.ai (@yPredict_ai) October 24, 2023

During the public presale phase, yPredict managed to secure over $4.54 million in funding from investors worldwide, keen on acquiring an early stake in what is perceived as a promising AI-driven Web3 ecosystem within the crypto industry. A significant portion of the total token supply, amounting to 80%, has been made available for potential buyers, totaling 100 million YPRED tokens.

YPRED token holders can expect to benefit from staking rewards of up to 45% quarterly, substantial discounts on yPredict’s AI tools, and lifetime free access to the platform’s crypto price prediction system.

As of the current stage, yPredict’s presale has reached its seventh phase, with YPRED tokens priced at $0.10 each. It is worth noting that if the presale successfully attains $4.58 million in funding, the token price will be adjusted to $0.11. Furthermore, once the token is listed on cryptocurrency exchanges, it is anticipated to be valued at $0.12. This listing price may result in a 20% gain for early presale participants.