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As the market builds momentum, investors actively seek tokens to refresh their portfolios in anticipation of the next bullish phase. Consequently, altcoins are attracting considerable attention for their potential to deliver substantial returns. This introduction highlights some of the most promising altcoins for investment consideration now.
8 Best Altcoins to Invest in Right Now
Even in a relatively calm market, certain tokens are gaining attention for their potential. NEAR Protocol, Neo, and Polkadot have all emerged as key players. This guide will showcase the distinctive qualities that make these altcoins stand out, giving investors valuable insights for informed decisions. This week’s market highlight is narratives of Grayscale GBTC shedding assets quickly but inflows to nine other products rising.
1. Theta Network (THETA)
The Theta Network is experiencing a surge, particularly after partnering with the NHL’s Vegas Golden Knights for NFT ventures. On this note, the token is currently ranked 66th among cryptocurrencies, with a market cap of $1.016 billion. However, breaking into the top 50 poses a challenge due to newer, more innovative projects entering the blockchain scene.
Presently, sentiment toward Theta Token’s price is bearish, and the neutral greed score indicates the investor’s holding. Despite this, there are encouraging signs, as THETA is above the 200-day SMA. This signifies stability as it outperformed its initial token sale price.
Did you know that some of the biggest traditional media companies already utilize Web3 technology on their website today?
Theta’s innovative white-label digital rights solution & DRM technology allowed @tasteofhome to easily integrate the immersive experience entirely into their… pic.twitter.com/tmUdz0OKjS
— Theta Network (@Theta_Network) January 12, 2024
Moreover, its high liquidity, reflected in its market cap, bolsters its market presence. Therefore, analysts project that if Theta Network announces collaborations with other networks, THETA Coin could surpass $3.28. Theta Network Coin will average around $2.97 in a bullish market by 2024.
2. Filecoin (FIL)
Filecoin has experienced a notable surge in value, capturing the attention of crypto investors. Further gains are anticipated if bulls propel the crypto above its $7 resistance level.
Moreover, this bullish trend is underpinned by Filecoin’s current trading position above the 20-day Exponential Moving Average, signaling a positive trajectory. Filecoin’s outlook is bearish; however, it has been in the green zone over the past 24 hours, showing signs of a resurgence.
At the forefront of AI, @oceanprotocol champions positive change. 🤖 Empowering data stakeholders, Ocean Protocol enables data publishers, marketplaces, and dapps to securely store their information on the resilient #Filecoin network via @LighthouseWeb3.👇https://t.co/mENrXCtfhC
— Filecoin (@Filecoin) January 25, 2024
Furthermore, investor demand for Filecoin remains robust, as demonstrated by its recent price movement from $5.64 to $6.49 within a week. Analysts predict that Filecoin could reach $9.58 based on recent on-chart metrics.
3. Polkadot (DOT)
Polkadot ecosystem’s latest quarterly update highlights significant growth in network activity and stable transaction fees. With over 1.3 million holders, Polkadot remains a respected network supporting numerous web3 protocols.
Moreover, On-chain data reveals that the network has facilitated over 30 million transfers, fueled by inscriptions and web3 activity. On another note, the Polkadot team is gearing up to launch several upgrades.
The #PolkadotDapps series wraps up with one of the most popular use cases for blockchain: NFTs!
Dive in and discover:
🔄 Cross-chain and modular NFTs
🎨 Creating your own NFT collection
🙋 Participation in launchpads
🖼️ Collectibles and gaming gearRead more below 👇
1/9 pic.twitter.com/dGsuObsazf
— Polkadot (@Polkadot) January 23, 2024
This upgrade, including trustless bridges, asynchronous backing, and on-demand parachains, aims to meet the increasing demand for blockchain services. In addition, these enhancements aim to strengthen the network’s capabilities and adapt to the evolving needs of its users.
4. Klaytn (KLAY)
Klaytn’s market outlook is brightened as the Klaytn Foundation and the Finschia Foundation have teamed up to establish a joint ecosystem. This merger boasts an impressive user base surpassing 250 million wallets. Furthermore, KLAY’s intraday session deserves mention. It has rallied by 2.84% in the last 24 hours, reaching $ 0.199101.
Meanwhile, buyers have been busy as the intraday trading volume hit $490.24M. Moreover, a market cap of $784.00M reflects KLAY’s solid market dominance of 0.04%. KLAY’s market momentum is positive, trading above the 200-day simple moving average.
We weren’t joking when we said 2024 is going to be wild – we’ve just submitted a governance proposal to merge the #Klaytn and @finschia blockchains to create Asia’s largest Web3 ecosystem! Details below 🧵https://t.co/rNsqxxjBsj pic.twitter.com/mvJHPGdYof
— Klaytn (@klaytn_official) January 16, 2024
As for the supply, Klaytn currently circulates 3.48 billion KLAY out of a maximum supply of 10.95 billion KLAY. Over the last year, a supply inflation rate of 15.34% has been observed, creating 463.51 million KLAY.
5. Arweave (AR)
Arweave is a bullish trend across various timeframes in the 24-hour chart. It recently surged past the $10 mark, marking a significant breakthrough suggesting further gains. However, it has retracted to below the $9 mark, trading at $8.72.
Last week, Arweave’s price fluctuated between $9.50 and $10.71, with its market cap now at $627 million, nearing the $1 billion milestone. Furthermore, forecasts indicate that Arweave could reach $16.61 by the end of 2024, indicating growth potential.
#Arweave is an evolutionary protocol.
Arweave as a protocol encourages forks for potential improvements.
How?
Arweave has devised a framework to reward innovative forks. 👇 pic.twitter.com/Lqei9qRX8e
— Only Arweave (@onlyarweave) January 23, 2024
Backed by solid fundamentals and strong community support, Arweave is well-positioned for future success. In addition, potential collaborations with other networks could also propel AR Coin’s price above $32.35 by 2024.
6. Meme Kombat (MK)
Meme Kombat has burst onto the crypto scene, attracting attention by raising $7,420,173 in its presale, inching closer to its $1,000,000 goal. What sets this project apart is its innovative gaming platform tailored specifically for enthusiasts.
We have surpassed the $7.4 million mark in the $MK presale🥊
One step closer to finishing this up⚔️ pic.twitter.com/QdKOPIjv5G
— Meme Kombat (@Meme_Kombat) January 25, 2024
Meanwhile, 50% of the MK supply is up for grabs in the presale at $1.667 per token, with a firm hard cap of $10 million. This strategy aims to enhance the usability of MK tokens among users, setting the stage for broader adoption.
Furthermore, Meme Kombat is gearing up to list its tokens on a decentralized exchange, with 10% of the total supply allocated to provide liquidity. This strategic move underscores its dedication to enabling decentralized trading of MK tokens.
7. Neo (NEO)
Neo has been a mainstay for investors in the Web3 space since 2014. However, it took a massive step on January 22, 2024, by joining the Web3 KYC Alliance. By extension, Neo’s alliance aims to implement KYC solutions, enhancing regulatory compliance and user experiences.
Furthermore, Neo’s decision demonstrates its commitment to regulatory compliance and improving user experiences through innovative KYC solutions. Moreover, Neo actively contributes to developing a Smart Economy by automating asset management through smart contracts.
🎆Neo finished 2023 with a bang, launching the Neo X pre-alpha TestNet and welcoming several prestigious new members to our ecosystem.
Get the details in the Neo Global Development (NGD) General Monthly Report for December 2023.https://t.co/tS1Vdo0nBW
— Neo Smart Economy (@Neo_Blockchain) January 19, 2024
With robust partnerships and steadfast support from the crypto community, Neo has the potential to achieve significant growth. Analysts predict that if Neo announces collaborations with other networks, the NEO Coin could surpass $41.02 by 2024.
8. NEAR Protocol (NEAR)
NEAR’s recent trajectory has been nothing short of impressive, with its price skyrocketing over 300% in the final quarter of 2023 before stabilizing around $3.30, following a peak at $4.30. Notably, it encounters formidable resistance at $4.90, aligning with the 2.618 Fib extension on its chart.
Despite experiencing a recent retracement, NEAR remains comfortably above its 200-day moving average of $1.70, indicating a sustained long-term uptrend. Moreover, Near Protocol’s Relative Strength Index (RSI) stands at 54, suggesting lingering bullish momentum before potentially reaching overbought conditions.
One small step for NEAR.
One giant leap.
For Web3.
With Chain Abstraction, your current user size is not size.
Learn why Chain Abstraction is the next frontier for Web3:https://t.co/9BdlxCqA6R pic.twitter.com/eKCANUFOmp
— NEAR Protocol (@NEARProtocol) January 24, 2024
Furthermore, Near is a layer-1 blockchain focusing on developers and prioritizing usability. Hence, this places NEAR as a coin with long-term growth potential. Also, it is focused on delivering a scalable, secure, and user-friendly platform for cloud computing. Therefore, this positions it favorably for the next phase of DApp innovation.
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