7 Best Altcoins to Invest in Right Now December 30 - Internet Computer, Bitcoin Cash, eCash

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The allure of Altcoins continues to captivate investors, offering several investment opportunities. However, determining the best altcoins to invest in combines analysis, market trends, and innovation potential.

For some investors, this takes time and effort to fulfill. Hence, Insidebitcoins curates a selection of the best altcoins that exhibit potential and utility in the current market climate.

7 Best Altcoins to Invest in Right Now

According to S&P Global Market Intelligence data, several tokens experienced notable gains within a specific period. BNB observed a significant increase of 16%, alongside MultiversX and Optimism’s token, which also saw identical gains of 16%. Additionally, Theta Network witnessed a near double-digit growth, marking an approximate 10% rise.

1. Bitcoin Cash (BCH)

Bitcoin Cash’s price surge of 192% has piqued investors’ interest. BCH maintains a consistent trading position above the 200-day simple moving average, indicating a stable upward trend.

As for its supply dynamics, the current circulating supply of Bitcoin Cash is 19.60 million out of a maximum supply of 21.00 million BCH. Over the past year, 360,525 BCH were created, which is attributed to the current yearly supply inflation rate of 1.87%.

Analyzing recent trends, Bitcoin Cash has observed 17 positive trading days out of the last 30, accounting for 57% of the period. Its strong liquidity, reflected in its market cap, denotes a robust presence within the market. The yearly inflation rate stands at 1.87%. This signals a controlled and relatively low level of inflation compared to other cryptocurrencies.

Considering market sentiment, Bitcoin Cash’s price market sentiment is prevailing bullish outlook. This sentiment aligns with a Fear & Greed Index rating of 68, indicating a state of greed within the market.

2. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix introduces a distinctive staking concept where users stake BTCMTX tokens to earn cloud mining credits. As such, it aims to decentralize control and ensure a secure mining experience. The project claims an annual percentage yield (APY) of 103,225%. Furthermore, it currently holds over 400,000 BTCMTX tokens in its staking pool.

Despite its early stage, Bitcoin Minetrix has attracted significant interest, swiftly ascending among the top-performing cryptocurrencies. The ongoing presale has raised over $6,800,104 by offering BTCMTX tokens at $0.0125 each. This amount accounts for 70% of the total token supply of 4 billion. Potential investors can acquire these tokens using either ETH or USDT.

Just 3 days remaining for #BitcoinMinetrix Stage 16! ⏰

How do you envision #Bitcoin's role in the future of global economies? pic.twitter.com/r4ZCxaEOVj

— Bitcoinminetrix (@bitcoinminetrix) December 29, 2023

This surge in traction signals heightened investor curiosity about the project’s goals and offerings. The presale’s success reflects the market’s response to Bitcoin Minetrix’s proposition of staking for cloud mining credits.

3. Mina (MINA)

The Mina (MINA) cryptocurrency has shown significant growth in recent periods. On a monthly chart, it has surged by 51%. Also, it has recorded a remarkable 152% increase over the past year. Notably, within the last two months, its price escalated from $0.39 to $1.2, indicating a substantial upward movement.

During the past week, Mina experienced a price surge from $0.74 to a peak of $1.27, marking an impressive short-term gain. It maintains an average trading volume of $109,711,753, suggesting notable market activity.

Mina’s community-governed innovation fund is back to support even more ZK developers and entrepreneurs ⚡

Cohort 3 launches TODAY with 2 MILLION MINA available in grants!

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— Mina Protocol (httpz) 🪶 (@MinaProtocol) December 22, 2023

Evan Shapiro, the Advisor and Chairman of the Board at Mina Foundation, shared news about the Foundation’s relocation to Switzerland. Moreover, Kurt Hemecker is set to assume the CEO role. This strategic move could contribute to ecosystem expansion, foster new developments, and positively impact the coin’s price.

The relocation to Switzerland may signal intentions for broader ecosystem growth and innovation, with the new leadership potentially driving further advancements within the project.

4. eCash (XEC)

The recent market activity surrounding XEC (eCash) indicates a potential upward trend in the short term. A notable surge of 23% in the last trading session suggests a bullish sentiment among buyers, with attempts to sustain this momentum evident.

Observations reveal that eCash crypto displayed a significant bullish candle, signaling an attempt to breach a six-month high. However, encountering resistance within the supply zone has delayed confirmation of the breakout.

Furthermore, there are indications of increased buying volume in XEC, impacting its price positively. This volume surge suggests larger investor involvement, potentially signaling a bullish sentiment among these influential holders.

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Now equipped with a dedicated tab for eTokens, Cashtab wallet enables users to manage their eToken assets effortlessly! 👌

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— eCash (@eCashOfficial) December 30, 2023

Over recent months, XEC has demonstrated a consolidation phase, suggesting a period of accumulation. This phase has concluded, potentially paving the way for a trending movement. A decisive break above the six-month high could initiate the next phase of the rally.

5. Optimism (OP)

Optimism, a prominent player in the Layer 2 sector, currently holds a bullish sentiment in price prediction. This prediction is alongside a Fear & Greed Index, indicating a Greed score of 68.

Over the past year, Optimism has marked a 310% increase in its price. This growth has outpaced 87% of the top 100 crypto assets. Notably, the asset is currently trading above its 200-day simple moving average, showcasing stability in its trend.

In the last 30 days, Optimism has seen positive traction with 17 green days, amounting to 57% of the observed period. Furthermore, its market cap suggests a commendable level of liquidity.

6. Axelar (AXL)

Frax Finance recently announced an initiative to expand its ecosystem through the Axelar Network. This move involves issuing its primary ecosystem assets, such as FRAX and frxETH stablecoins, across various DeFi platforms. The aim is to broaden the accessibility of Frax Finance’s assets and strengthen its position within the DeFi landscape.

Furthermore, this strategic expansion through the Axelar Network reflects the ongoing evolution of the DeFi industry. It signals a trend toward bridging gaps between diverse ecosystems as blockchain technology matures. Frax Finance’s approach might serve as a model for other DeFi entities seeking to extend their influence in a competitive market.

Blockchain analysts at @MessariCrypto recently published a comprehensive overview of Axelar network. The full report explores Axelar's adoption by market leaders & analyzes new AXL tokenomics.

🧵 👇 for the tldr! pic.twitter.com/50dHROjhwR

— Axelar Network (@axelarnetwork) December 19, 2023

Currently, sentiment around Axelar’s price prediction is bullish, with the Fear & Greed Index indicating a level of 68 (Greed). Additionally, it’s trading above its 200-day simple moving average. Over the last 30 days, 18 positive price movements have accounted for 60% of the period.

7. Internet Computer (ICP)

Internet Computer has seen an uptrend in its price, soaring approximately 151% over the past year. This growth surpasses around two-thirds of the top 100 cryptocurrencies, demonstrating a commendable performance in the market.

Trading above its 200-day simple moving average, ICP has shown consistency and strength in its price movement. This movement is further accentuated by 20 positive trading days out of the last 30, indicating a 67% positive trend.

Furthermore, ICP boasts a circulating supply of 454.17 million ICP out of a maximum supply of 488.51 million ICP. Likewise, the yearly inflation rate is 65.61%, creating 179.93 million ICP in the past year.

Moreover, the current sentiment around ICP appears bullish, coinciding with a Greed reading of 68 on the Fear & Greed Index. Considering these possible scenarios, experts forecast an average trading price of $16.13 by the end of 2024. However, this is subject to market developments and regulatory landscapes.

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