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River, a U.S.-based Bitcoin technology and financial services company, predicts that within the next 18 months, 10% of American businesses will allocate around 1.5% of their treasury reserves to Bitcoin, totaling approximately $10.35 billion. This projection comes amid growing concerns over a possible U.S. economic recession by July 2025.
Meanwhile, Ripple has declared its backing for Kamala Harris in the 2024 presidential election. The company is facing difficulties with the performance of its XRP cryptocurrency compared to Bitcoin. Given the increasing adoption of digital assets, investors are searching for the best cryptos to add to their portfolios. For investors seeking such, this list covers the 6 best altcoins to watch today.
6 Best Altcoins To Watch Today
Chainlink is a decentralized oracle network that enables communication between blockchains and external data sources. Floki is working to move beyond its meme origins by providing greater utility for its token holders. Cardano’s development team, Input Output (IOHK), and Hedera have become founding members of the Decentralized Recovery Alliance (DeRec Alliance).
Conflux Network’s recent collaboration with Alibaba Cloud marks an important milestone in advancing Web3 innovation in Hong Kong. The Meme Games (MGMES), a meme coin project, has garnered attention by aligning its presale with the 2024 Paris Olympics and Paralympics. Meanwhile, Bitcoin and Ether are on track for a second consecutive week of losses.
1. Uniswap (UNI)
Uniswap Labs recently settled charges with the Commodity Futures Trading Commission (CFTC), agreeing to pay a $175,000 penalty as part of the settlement. The platform was accused of allowing the illegal trading of leveraged Bitcoin and Ether.
Following the announcement, the UNI token saw an initial 5% jump. However, it later reversed some of those gains. At the time of writing, the token traded at $6.2, reflecting a slight 1.2% decline over the past 24 hours.
Moreover, UNI now hovers around the 20-day Exponential Moving Average (EMA) of $6.20. This level could serve as a key pivot point for potential bullish activity. A decisive close above this mark may indicate further recovery.
Over 6M addresses have swapped on multiple chains with Uniswap 🤯 pic.twitter.com/Qz7iFjkAlL
— Uniswap Labs 🦄 (@Uniswap) September 7, 2024
From a technical perspective, Uniswap’s recent price action suggests a possible shift in market sentiment. After testing critical support levels between $5.5 and $5.7, the token showed renewed buyer interest. These levels have been crucial for the altcoin. UNI’s ability to bounce back from them signals a potential upward movement. However, the market will closely watch how the token performs around these support and resistance levels.
2. Chainlink (LINK)
Chainlink is a decentralized Oracle network that facilitates communication between blockchains and external data sources. This network’s utilities have aided the growing demand for the LINK token. The token allows smart contracts to access essential off-chain information, further adding to its appeal.
Recently, Chainlink was listed on the Hashkey Exchange, making it available to retail investors in Hong Kong. Alongside Avalanche, LINK is one of the first cryptocurrencies beyond Bitcoin and Ethereum to be featured on the platform. This listing could signal market confidence in LINK, potentially driving its price upward. Currently priced at $10.02, LINK has seen a 5.19% increase in the past 24 hours and has grown by 60% over the last year.
The banking and capital markets stage at #Chainlink SmartCon will feature leaders shaping the future of global markets.
New speakers are being added every week—explore the current list ↓https://t.co/iUb9VObnt5 pic.twitter.com/AfLerUJuLC
— Chainlink (@chainlink) September 7, 2024
LINK’s current price is positioned below its ATH high of $52. However, the cion’s upward trend and strong performance indicate growth potential. This expectation is predicted to hold, especially if the bullish momentum continues. However, market fluctuations and broader trends in the crypto space will likely influence its future trajectory.
3. FLOKI (FLOKI)
Floki aims to move past its meme narrative by offering more utility to token holders. The meme coin recently partnered with OG Esports and Valhalla, a play-to-earn metaverse game built on blockchain technology.
Valhalla offers an MMORPG experience that blends open-world exploration with strategic turn-based combat. Players can earn rewards through gameplay and gain in-game advantages based on their skills and strategies.
Meanwhile, FLOKI’s market trend indicates a positive outlook—the token trades at $0.000122, reflecting a 2.16% intraday rally. Moreover, FLOKI’s yearly outlook paints a positive picture. Year-to-date (YTD), the token has surged by 598%, outperforming 94% of the top 100 crypto assets.
Valhalla Open World Live Gameplay! 🔴
This is your chance to get a firsthand look at #Floki's innovative PlayToEarn #NFT game, currently in its testnet phase.
Have questions? Our team is ready to answer them all!
Tune in now 👉 https://t.co/kxhbIQIxwn pic.twitter.com/gmub7HSQgV
— FLOKI (@RealFlokiInu) September 6, 2024
Notably, it trades 353.88% above its 200-day simple moving average. Furthermore, its high liquidity relative to market capitalization suggests stability within its trading environment.
4. Hedera (HBAR)
Cardano’s development arm, Input Output (IOHK), and Hedera have joined the Decentralized Recovery Alliance (DeRec Alliance) as founding members. Alongside Algorand Foundation, Hashgraph, Ripple, and XRPL Labs, they aim to advance security and trust within the Web3 space. Cardano and Hedera will serve on the Technical Oversight Committee for the next two years, shaping policies and standards for simplifying crypto recovery and enhancing user experience.
Regarding HBAR’s price trend, the token has experienced a correction phase over the past five months, with the long-term outlook showing no solid support for a bullish shift. A double-bottom reversal is possible, which could challenge the trendline at $0.056.
On September 17 at the @rwasummit in Singapore, Head of Fintech & Payments Fund, @hbarfoundation, @tsakoog, will be speaking on the panel 'The Rise of #RWA Chains' – joining @IOHK_Charles, @shialicechen, @teddyP_xyz and moderator @pbrody.
View the agenda:… pic.twitter.com/rXKYIEGGBp
— Hedera (@hedera) September 6, 2024
However, the likelihood of a breakout remains low, with the price likely to hover around $0.0505 for September. The potential high for this month is projected at $0.056, with a low of $0.047. Looking ahead to 2024, if the broader crypto market stabilizes and Bitcoin prices show consistent trends, Hedera’s price might experience a recovery. In this scenario, HBAR could reach a maximum price of $0.065 by the end of next year.
5. Conflux (CFX)
Conflux Network’s recent partnership with Alibaba Cloud marks a significant step towards advancing Web3 innovation in Hong Kong. The collaboration aims to combine Conflux’s blockchain technology with Alibaba Cloud’s expertise in cloud computing to create a solid infrastructure for decentralized solutions.
Conflux’s market trend is currently mirroring a positive outlook. CFX is changing hands at $0.127937 after a 0.26% intraday increase. Over the past month, Conflux has experienced 15 days of positive price movement, reflecting market confidence. Relative to its market cap, its liquidity also indicates steady investor interest.
Meanwhile, Conflux’s price is predicted to rise significantly. A long-term forecast suggests a 227.70% increase by October 2024, potentially reaching $0.419568. In the short term, predictions for next week indicate a price range between $0.128034 and $0.17533.
Exciting news from Hong Kong! 🇭🇰
Thrilled to announce our partnership with @alibaba_cloud and @Cyberport_HK to fuel #Web3 innovation in Hong Kong. #Confluxhttps://t.co/FtsHOqNC2w
Together, we're set to transform retail, tourism, entertainment, arts, education, and more in the…
— Conflux Network Official (@Conflux_Network) September 4, 2024
Experts also predict a potential 36.94% increase by mid-September if the upper target is met. This partnership with Alibaba Cloud, alongside Conflux’s price growth potential, could further solidify its position in the blockchain space, particularly in Hong Kong’s evolving technological landscape.
6. The Meme Games (MGMES)
The Meme Games (MGMES) is a meme coin project that has gained attention by aligning its presale with the 2024 Paris Olympics and Paralympics. This strategy has attracted significant interest within the blockchain community, resulting in early success.
Since launching its presale, The Meme Games has raised over $440,000, indicating user interest. The presale ends on September 8, coinciding with the Paralympics finale. Moreover, a DEX listing is planned for September 10, allowing investors to capitalize on the current presale price of $0.00945.
Investors can purchase MGMES tokens on the project’s website using Ethereum or BNB Chain wallets. One unique aspect of the project is its gamified presale. Participants can back meme athletes competing in a 169-meter dash, with the supporter of the winning athlete earning a 25% bonus on their token purchase. This adds an element of unpredictability and engagement to the process.
Additionally, The Meme Games offers a staking feature with an annual return of 444%, allowing investors to compound their holdings before the token is listed. However, this return may change based on the number of participants.
By blending meme culture and an Olympics theme, The Meme Games targets a niche market in the crypto space. Its combination of gaming, investment opportunities, and staking makes it a project to watch as it moves toward its exchange debut.
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