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‘What is the best crypto to buy right now?’ is a common question asked by investors – in this article, we explore a range of tokens to watch.
As the digital market rapidly evolves, cryptocurrencies have become an attractive investment option, promising investors substantial returns. However, selecting the most promising tokens for investment requires a combination of analysis and understanding of technological advancements.
Therefore, Insidebitcions conducts thorough research within the crypto market to identify the most promising coins. This helps investors understand the factors influencing a token’s potential and why these particular tokens are considered the best cryptocurrencies to buy.
Best Crypto to Buy Now
Ethena’s price has surged by 10.12% in the last 24 hours. Additionally, ICP has witnessed a surge in price, with a remarkable 10.93% increase over the past week. Furthermore, IoTeX’s ecosystem has been actively developing and expanding DePIN this year.
1. eTukTuk (TUK)
eTukTuk is a green initiative striving to swap out conventional gas-guzzling tuk-tuks with modern electric models labeled “eTukTuks.” The project intends to bolster these electric vehicles by establishing a network of solar-powered charging stations throughout developing countries. It aims to integrate AI technology into its electric vehicles.
We've hit a major milestone, raising $2M in our pre-sale!
Thanks to our incredible community for your support.
Rest assured, these funds will fuel our mission for a sustainable future 🚀https://t.co/4kiTWB8U8Z
— eTukTuk (@eTukTukio) March 20, 2024
The project has attracted significant interest from investors, which is evident in the engagement of over 52,000 individuals across its Twitter and Telegram communities. With its presale raising about $2.7 million, eTukTuk is poised for a substantial debut on major exchanges later this year. The project’s focus on blockchain-driven solutions and eco-friendly innovation has resonated with investors, leading to a surge in support.
Furthermore, eTukTuk’s roadmap includes developing cost-effective charging stations and establishing an electric vehicle network. The upcoming Driver App is expected to be crucial in facilitating eTukTuk’s digital ecosystem. Moreover, eTukTuk plans to list its native TUK Token on Tier 1 and Tier 2 cryptocurrency exchanges, with backing from the Sri Lankan government.
This move is anticipated to bolster the project’s market presence and token value. Currently, prospective investors can acquire TUK tokens at a discounted rate of $0.0295. The affordability of TUK tokens and its utilization of AI technology presents an attractive opportunity for investors interested in eco-friendly projects.
2. Maker (MKR)
In a recent development, Maker has captured renewed attention following an announcement on its X feed. The project intends to make significant strides in the blockchain sector by injecting $600 million worth of DAI into USDe and staked USDe (sUSDe) via the DeFi lending platform Morpho Labs. This thereby will bolster the growth of Ethena Labs.
Moreover, USDe and sUSDe operate as synthetic dollar protocols built on Ethereum. Maker’s substantial investment is anticipated to propel Ethena’s total value locked (TVL) to new heights. Seraphim Czecker, Head of Growth at Ethena, disclosed the news in an X post, affirming that the investment aligns with their growth projections.
The market has responded positively to this development, with Maker experiencing a 2.90% gain in the latest trading session. Investor sentiment towards MKR appears bullish, as evidenced by an uptick in investor transactions indicated by the Greed score of 70. Furthermore, Maker exhibits a deflationary trend with a negative yearly inflation rate of -5.42%, potentially enhancing the token’s value over time.
Maker has deployed a 100-million DAI Direct Deposit Module to Spark's sUSDe/DAI and USDe/DAI markets on Morpho Blue, enabling overcollateralized scalable liquidity for users interested in increasing their exposure to Ethena’s assets.
Through @sparkdotfi, we collaborated with… pic.twitter.com/AEZlUASGsT
— Maker (@MakerDAO) March 29, 2024
In addition, the coin also trades above its 200-day simple moving average, signaling a positive market trend after a string of 19 out of 30 green days. Additionally, Maker maintains a strong liquidity position, reflected by its 24-hour volume-to-market cap ratio of 0.0617. Maker DAO’s strategic investment in USDe and sUSDe through Morpho Labs signifies a proactive approach to capitalizing on current market conditions.
3. Internet Computer (ICP)
The Internet Computer blockchain integrates a revolutionary reconsideration of blockchain design driven by advancements in the crypto sector. It aims to be a versatile platform capable of hosting various online systems and services. These services include complex social media platforms without relying on traditional IT infrastructure like cloud computing.
By doing so, it seeks to revolutionize blockchain interoperability, streamlining processes and eliminating the need for intermediaries such as bridges through its multichain technology. Notably, ICP has seen a significant surge in price, experiencing a remarkable 10.93% increase over the past week.
This surge has propelled ICP’s market cap to $8.26 billion, securing its position at #18 in the crypto rankings. Additionally, ICP’s trading volume has reached $265.93 million. Moreover, ICP’s price is trading above its 200-day moving average (MA) of $0.057879, which is generally considered a bullish signal.
#ICP revolutionizes blockchain interoperability, eliminating the need for intermediaries like bridges with its multichain technology.
With Chain Fusion, multichain dapp development becomes seamless
Unlock the future of Web3 with Chain Fusion 🌐 pic.twitter.com/D57V7JPsqf
— DFINITY (@dfinity) April 1, 2024
Technical analysis indicates that the token has broken out of a descending channel pattern, a development often interpreted as a sign of potential upward momentum. Based on its market capitalization, ICP demonstrates high liquidity. This suggests that a significant amount of the token is available for trading, contributing to its appeal among investors.
4. IoTeX (IOTX)
IoTeX strives to bridge the gap between smart devices and blockchains. It aims to seamlessly integrate Web3 technology into daily life and facilitate interaction between numerous smart devices, sensors, machines, and decentralized applications (dApps) across physical and digital realms.
The platform’s focus on modular infrastructure, privacy, and traffic-routing solutions positions it as a significant player in the ongoing evolution of decentralized private infrastructure networks (DePIN). IoTeX aims to simplify the process for application developers by offering readily available infrastructure solutions. It supports go-to-market strategies, liquidity building, and community development, thus fostering innovation within the DePIN space.
Furthermore, IoTeX’s ecosystem has been actively developing and expanding DePIN this year. Notably, FutureMoney Group, in collaboration with the IoTeX Foundation, initiated a $5 million DePIN accelerator program to aid startups innovating in this domain. Similarly, strategic partnerships have been formed with organizations like Ankr to strengthen the DePIN ecosystem and enhance the performance and decentralization of decentralized networks.
$50M investment into IoTeX's DePIN ecosystem.
Funding from @snzholding, @ForesightVen, @borderless_cap, @ambergroup_io, @fmgroupxyz, @MetricsVentures, @EV3ventures, @waterdripfund, @SummerEverest & others.
The $50M will be injected into long-term staked $IOTX, our DePINsurf… pic.twitter.com/ucbPrbJ5cL
— IoTeX (@iotex_io) April 2, 2024
As of today, the price of IoTeX is $0.079298, with a 24-hour trading volume of $328.69M. Market sentiment predicts a bullish trend, while the Fear & Greed Index indicates a 70 (Greed) score. IoTeX is currently trading above its 200-day simple moving average. It has demonstrated positive performance compared to its token sale price, indicating high liquidity based on its market capitalization.
5. Ethena (ENA)
In recent developments within the cryptocurrency market, the Ethena token has been notably accumulated. According to blockchain data from Spotonchain, a wallet address associated with Amber Group has been actively withdrawing ENA tokens from Binance. The latest withdrawal saw the wallet obtaining 4.61 million ENA tokens, valued at approximately $4.22 million at the time of the transaction.
This acquisition occurred through a single transaction, with the tokens transferred at an average price of $0.916 per ENA. Before this, the same wallet had withdrawn 499,980 ENA tokens from Binance, amounting to roughly $445,000, at a rate of $0.89 per token. As a result, the wallet now holds a total of 5.11 million ENA tokens.
USDe supply $1,500,000,000@ethena_labs now 15% of global ETH open interest
Would be a shame if we launched BTC next week, don't you think? pic.twitter.com/Kw8qZRSids
— Ethena Labs (@ethena_labs) March 29, 2024
Moreover, this accumulation of ENA tokens has sparked speculation in the crypto community, prompting discussions about the potential motives behind these transactions. Interestingly, the token’s price has surged by 10.12% in the last 24 hours, contributing to the growing speculations surrounding these recent developments.
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