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In recent developments within the cryptocurrency sector, the anticipated growth post-halving has not unfolded as projected. This has led to a turbulent market phase. Furthermore, this period of downturn persisted until a recent decision by the Federal Reserve, which sparked a slight activity in the market.
Meanwhile, Bitcoin price drops to $60,934.11 as the Federal Reserve evaluates strategies against persistent inflation in the United States. Attention has now pivoted towards significant altcoins such as AIOZ, Lido DAO, Tellor, Catwifhat, and THORChain, each showing varied performances as the new trading day commences.
6 Best Altcoin to Invest in Now
The cryptocurrency market is showing mixed signals. While some altcoins are experiencing gains, others face trading downturns. Therefore, investors are advised to closely watch market trends and trading volumes to make informed decisions.
Catwifhat, a new meme coin operating on the Solana blockchain, has exploded by 278% in the last seven days. A markedly lower market cap than Dogwifhat indicates that $CWIF could experience more significant price surges when the meme coin bull run resumes.
1. AIOZ Network (AIO)
AIOZ Network is a decentralized infrastructure project for digital media streaming and storage via web3 AI technologies. By rewarding users who share computational resources, AIOZ enables storage and transcoding. It also enables the streaming of digital media while supporting decentralized AI computation.
Its decentralized content delivery system facilitates AI computation, data storage, and media/video streaming across decentralized applications (dApps) within the network. AIOZ Network also supports dApp integration and smart contract languages compatible with blockchain networks such as Ethereum (ETH) and Cosmos (ATOM).
The AIOZ Network’s token has seen a significant surge in market value, climbing over 14% in the last 24 hours to trade at approximately $0.7859. This price also indicates a year-to-date uptick of 4700%. The token briefly surpassed the $0.90 mark the previous week, and market capitalization crossed the $920 million threshold; the AIOZ Network token rose 17% after the Bithumb listing announcement.
The uptick in AIOZ’s market activity is linked to a recent announcement by Korea’s leading exchange, Bithumb, which has added AIOZ to its listing. Bithumb will allow deposits and withdrawals for AIOZ. The AIOZ Network team has also announced a recent integration with Ethena.
📢 Eternal AI is now integrated with AIOZ #W3S for the decentralized storage of their #AI models, powered by 120K+ AIOZ #DePIN nodes!@CryptoEternalAI is the first #Bitcoin L2 designed for decentralized AI, enabling anyone to create and power decentralized AI. 🚀
The… pic.twitter.com/pzOMSvIg1n
— AIOZ Network (@AIOZNetwork) May 10, 2024
Further boosting investor interest is AIOZ Network’s recent integration with DeMR, a mixed reality network built on the Solana (SOL) blockchain. The network leverages AI and blockchain technology to blend virtual reality with real-world applications.
The integration uses W3IPFS for DePIN Storage solutions to support the upcoming storage of NFT assets, enhancing the network’s capability in decentralized content delivery.
2. Lido DAO (LDO)
Since its launch on the Ethereum network two years ago, Lido DAO has changed how people stake their ETH tokens. Instead of the usual methods that tie up assets and need upkeep, Lido DAO has a different approach. It lets users turn their staked ETH into teeth, allowing them to use their assets on other blockchains.
The Lido DAO token saw a significant rise in January, hitting $3.7, a level not seen since March 2022. Though its price has decreased since then, it’s stayed above $2. This strength and predictions of hitting $6 by the end of Q2 have grabbed analysts’ attention.
With Lido DAO’s trading volume rising, many expect a rally soon. This growth potential makes Lido DAO stand out in the world of DeFi. The token has started a price recovery after experiencing a dip with its steady climb.
📢 A new major txSync upgrade! 📢
We're thrilled to announce that you can now pay your gas fees in @LidoFinance’s 𝘄𝘀𝘁𝗘𝗧𝗛 𝘁𝗼𝗸𝗲𝗻 on our #txSync!!
Here's how this benefits our users 👇🧵 pic.twitter.com/Dan9wOqY5h
— txSync (@txSync_io) May 9, 2024
Today, LDO is priced at $1.79. In the past 24 hours, LDO has seen a 1.04% increase in price, and the market cap has grown by the same percentage, surpassing $1.7 million. Lido DAO Token is trading 1.78% above the 200-day SMA, which is $1.966870.
Although the sentiment for DAO’s price prediction is bearish, it’s noteworthy that the Fear & Greed Index, a crucial market sentiment indicator, sits at a score of 64 (Greed). This suggests growing optimism for an upward trend driven by increased token transactions. Such sentiment could influence Lido DAO’s market performance.
3. Tellor (TRB)
Tellor is currently making waves in the crypto market. It has seen significant growth potential due to its unique technology. The token is also witnessing increasing adoption within DeFi projects. Investors view TRB as an attractive investment opportunity.
Tellor is a decentralized oracle network that delivers external data to blockchain-based applications, specifically those in decentralized finance (DeFi). Its purpose is to bring off-chain information onto the blockchain securely. This off-chain information enables smart contracts to access real-world data.
The current surge in Tellor’s value overlaps with heightened activity in large-scale crypto transactions involving TRB. Santiment noted a surge in active addresses and significant transactions, with active addresses rising from 131 on May 1 to 212 on May 6. Transactions over $100,000 grew, with 16 active addresses engaged in substantial investments.
👷♂️ this week's tellor 'reporters report': pic.twitter.com/gQI5zFv0bN
— Tellor (@WeAreTellor) May 10, 2024
Meanwhile, TRB has surged approximately 10% to reach $135.30 in the past 24 hours. Also, Tellor’s Total Value Locked (TVL) exceeded $5 million on May 3, 2024. The current market cap of Tellor Crypto is around $260 million, with trading volume increasing by 4.64%.
The market behaviour indicates strong investor interest in TRB, likely driven by its perceived profitability and solid market dynamics. This trend reflects the growing importance of decentralized oracle networks like Tellor in supporting the expanding DeFi ecosystem.
4. Catwifhat (CWIF)
Catwifhat posted an ATH value on March 1, 2024, when it reached an all-time high of $0.00000134. The token continues to deliver impressive ROI to its investors as it surged by over 279% over the last seven days. CWIF trades at $0.0000008087 today, indicating a 14,279.9% price increase since its launch.
Moreover, the deflationary made waves earlier this year after a massive 1.3 million airdrop. Catwifhat leverages Solana Token Extensions to make it deflationary further. Solano’s Token Extension allows the project to automatically burn 4% of all $CWIF tokens from every on-chain transaction.
Although CWIF posts a neutral 14-day RSI value of 68.70, analysts believe it can grow more. Metrics from Catwifhat’s technical analysis suggest that the token might break through its resistance level of $0.000000815. Alternatively, CWIF may move toward the nearest level, which is $0.0000008.
Reaching this level could ignite a price boost to the $0.000000881 level. On the contrary, failing to break through the plunge, the token towards the support levels of $0.000000557. Notably, the strongest support level remains at $0.000000519.
Overall, CWIF’s technological advantage plays a crucial function in fueling user and investor adoption rates. Consequently, the increased adoption will ensure the demand and price of the token keep increasing. Furthermore, the growing integration of blockchain technology across various sectors allows $CWIF to expand its reach.
5. THORChain (RUNE)
THORChain has endured ups and downs but has stayed strong. Beyond its price changes, THORChain’s technology and projects like Project Surtr and token burn show it’s built for the long haul, offering value to investors.
Over the past year, the value of RUNE has shot up by an impressive 594%, making it one of the top performers in the crypto market. Currently priced at $5.79, THORChain has seen a 10.37% increase in the last seven days. A YTD increase of 400% and a 47,770% increase since its launch demonstrates the token’s solid performance. While market sentiment is neutral, there’s been an increase in token transactions, indicated by a Fear/Greed score of 64.
Additionally, THORChain has outpaced 87% of the top 100 crypto assets in the past year, showing its promise as an investment. Given its ongoing development and ecosystem, investors are optimistic about THORChain’s future in the DeFi space. With a fixed total supply and careful token distribution, THORChain is positioned as an industry leader, appealing to individual and institutional investors.
THORChain was built to make Bitcoin better.
See below: a $200k Bitcoin buy from USDT. No gatekeeper, no wrapping, no exchange account, no giving up self-custody.
Just send in USDT and the protocol sends you real Bitcoin. It just works pic.twitter.com/muhqqBSTOU
— THORChain (@THORChain) May 9, 2024
Despite fluctuations, THORChain’s resilience and positive performance indicators suggest it has room to grow. Investors and fans are watching THORChain closely as it continues to make waves in the crypto market.
6. Mega Dice (DICE)
Mega Dice is an established casino that aims to transform GameFi. This token rewards current users and attracts new ones, playing a crucial role in Mega Dice’s gamification plan. Remarkably, Mega Dice plans to become the pioneer in crypto casinos, offering daily rewards based on platform performance.
Solana’s recent blockchain ventures are gaining notice. Among them is Mega Dice (DICE), a gaming and gambling token swiftly gaining popularity since its presale commenced. In less than two weeks, Mega Dice has raised over $900,000, indicating significant interest in this novel concept.
The Mega Dice presale has been remarkably successful thus far. The project has achieved a substantial funding milestone, demonstrating a strong demand for its token. Due to their accessibility and limited availability, people are keen to acquire $DICE tokens.
At present, each $DICE token is priced at $0.069. Those interested can link their wallets and swap SOL, ETH, or BNB for $DICE tokens. Mega Dice has sold 13,223,510 $DICE to date.
— Mega Dice Casino (@megadice) May 10, 2024
Meanwhile, they have allocated 15% for player airdrops, 15% for liquidity pools, and 15% for the Casino’s $DICE pool. Another 10% will serve as rewards for token stakers, and the remaining 10% is earmarked for marketing and other agreements.
Mega Dice ensures that the presale is inclusive. Post-presale, they aim to list $DICE tokens on decentralized exchanges (DEXs), potentially enhancing their popularity.
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