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We cover some contenders for the best cryptocurrency to buy right now, potentially worth adding to your watchlist over the coming days.
Altcoins are essential components of the crypto industry. Given the recent turbulence major cryptocurrency exchanges experienced, there’s a renewed sense of positivity surrounding these digital assets. This article sheds light on some standout tokens and examines the catalysts behind their remarkable price surges. Additionally, it explores the noteworthy efforts underway in their development, offering insights into the ongoing evolution of these alternative digital currencies.
Best Crypto to Buy Now
Hedera has partnered with the Saudi Ministry of Investment to establish the DeepTech Venture Studio in Saudi Arabia. Bittensor has experienced an 8.25% price increase in the last 24 hours, reaching $535.28. Additionally, ZetaChain recently introduced native support for smart contracts. Meanwhile, net inflows into spot Bitcoin ETFs are poised to reach $9 billion on Thursday, driven by the cryptocurrency’s price surge.
1. Hedera (HBAR)
Hedera is a decentralized network that helps individuals and businesses create decentralized applications (dApps). Unlike regular blockchains, it uses a new technology called Hashgraph to make things faster and more stable.
HBAR, the native token of Hedera, is currently valued at $0.07912. It’s seen a 3.30% increase in value today and a 13.90% increase over the past week. This surge is mainly because Hedera collaborated with the Saudi Ministry of Investment.
Moreover, this collaboration led to the launch of the DeepTech Venture Studio in Saudi Arabia, part of a five-year plan worth $250 million. This studio develops solutions using AI, blockchain, robotics, IoT, virtual reality, and quantum computing technologies. The DeepTech Venture Studio aims to drive innovation and economic growth in Saudi Arabia by giving access to these advanced technologies.
As part of a five-year agreement valued at $250m with the Saudi Ministry of Investment (@MISA), @The_Hashgraph Association has announced the launch of the DeepTech Venture Studio – empowering companies to develop innovative technological solutions. #web3https://t.co/wnqA9H4rm4 https://t.co/Yi6EJWqEh6
— Hedera (@hedera) February 6, 2024
Furthermore, Hedera’s partnership with the Saudi Ministry of Investment aims to boost innovation and grow the digital economy in the Kingdom. In summary, the partnership between Hedera and the Saudi Ministry of Investment is a big step forward for technology in Saudi Arabia. It uses Hedera’s expertise to drive innovation and growth in the region.
2. Bittensor (TAO)
Bittensor (TAO) saw its price rise by 8.25% in the past 24 hours, reaching $535.28. This increase adds to its recent positive trend, with a 21.81% gain over the past week. Currently, the token is near its all-time high of $554.22.
Moreover, Bittensor is an open-source protocol that powers a decentralized machine-learning network on the blockchain. In this network, machine learning models collaborate to train and receive rewards in TAO tokens for their contributions. Also, users can access the network externally and tailor its operations to their needs.
In addition, the market sentiment towards TAO’s price prediction is bullish, with a Fear & Greed Index score of 74 (Greed). Trading volume for the coin surged by 32.70% in the last 24 hours. Moreover, Bittensor has consistently traded above its 200-day simple moving average and has seen positive movement on 18 days out of the previous 30 days.
Bittensor holds the top position in the AI Crypto sector, underscoring its significance within this specialized market. However, investors ought to conduct comprehensive research before investing in the token.
3. Uniswap (UNI)
Uniswap is a decentralized trading protocol that facilitates automated trading of DeFi tokens for anyone holding tokens. It tackles liquidity challenges through computerized solutions, avoiding past issues with decentralized exchanges. Users can trade directly and earn fees by pooling assets into liquidity pools, enhancing efficiency and decentralization.
Operating on the Ethereum blockchain, Uniswap’s core function centers on liquidity pools, where users contribute assets for direct trades. The native utility token, UNI, has various roles within the ecosystem. It can be staked in liquidity pools for rewards and incentivizes protocol participation, playing a pivotal role in governing the decentralized nature of Uniswap.
The Uniswap Protocol has processed $1,836,599,491,103 in total swap volume
The countdown to $2 trillion begins 🦄 pic.twitter.com/wppDHm596l
— Uniswap Labs 🦄 (@Uniswap) February 5, 2024
Furthermore, the Uniswap token trades at $6.62, with a 2.71% increase in the last 24 hours. Uniswap has processed an impressive $1,836,599,491,103 in total swap volume. Sentiment analysis suggests a bullish outlook, with a Fear & Greed Index reading 74.
Moreover, the token’s price rose by 4% last year and remains above the 200-day moving average, indicating positive momentum. Uniswap boasts high liquidity based on its market capitalization, cementing its position in the cryptocurrency market.
4. Meme Kombat (MK)
The Meme Kombat (MK) token presale has raised over $8 million, nearing its hard cap of $10 million. This indicates significant interest in the project, which combines gaming elements with meme culture. Through Meme Kombat’s website, supporters can buy MK tokens for $0.279 each.
Furthermore, Half of the total MK token supply has been earmarked for the presale, with plans to list the token on decentralized exchanges like Uniswap following the presale’s conclusion. Meme Kombat offers a virtual battle arena where users can wager MK tokens on animated fights featuring iconic meme characters. Winners receive additional MK tokens, encouraging active participation and fostering community growth.
$8.4 million done in the $MK presale!
We're getting there fighters🥊 pic.twitter.com/DM97hLfXZh
— Meme Kombat (@Meme_Kombat) February 8, 2024
Moreover, the project has a solid following on platforms like Twitter and Telegram, reflecting its engaged community. Additionally, Meme Kombat incentivizes token holders to stake their MK holdings, offering an annual percentage yield (APY) of 110%. This dynamic staking system, coupled with innovative tokenomics and gameplay mechanics, has attracted considerable interest, with 80% of sold MK tokens already staked.
Recent activity within the Meme Kombat community, including a notable ETH transaction worth over $13,800, indicates sustained interest from investors. As the presale concludes, the project is positioned for further development and expansion, supported by its dedicated community and promising gaming utility.
5. ZetaChain (ZETA)
ZetaChain made a splash in the crypto world with its native token, shooting up by over 150% on its debut day. Since then, the price has seen some consolidation after peaking at $1.81 but has recently shown a 15.65% increase, reaching $1.40. Furthermore, ZetaChain is compatible with various blockchains, including Ethereum Virtual Machine (EVM), Cosmos/IBC, and Bitcoin.
This means it can smoothly move data and money between these different systems. ZetaChain’s smart contracts are a big deal. The platform’s native omnichain smart contract functionality enables developers to deploy contracts with the same ease as developing applications for a single network like Ethereum. These smart contracts can orchestrate data and value across multiple chains, even those that do not support smart contracts.
Furthermore, ZETA, the native token of ZetaChain, serves several purposes within the ecosystem. It facilitates cross-chain value transfer, secures the blockchain through mechanisms like slashing, bonding, and staking, pays for gas fees, processes transactions, and stores data. Through ZETA, users can transfer native value across chains without typical asset bridging or wrapping risks.
Recently, ZetaChain introduced native support for smart contracts, allowing developers to build decentralized applications (dApps) that operate efficiently across various chains using a singular contract. As ZETA gains traction in the market, major exchanges like Binance and Coinbase have listed the token.
Today, we’re excited to announce the launch of ZetaChain Mainnet Beta! Eligible users can claim earned ZETA in ZetaHub. All users can Earn XP in our first launch campaign: https://t.co/DlfQLGgawn
ZetaChain was started in 2021 with a mission to serve as a platform for universal…
— ZetaChain (@zetablockchain) February 1, 2024
Additionally, OKX has launched ZETA/USDT perpetual futures with leverage options and integrated margin trading and Earn features for the token. ZetaChain has also initiated a ZETA airdrop, encouraging users to register their wallets to claim tokens. Market analysts predict that following the current consolidation phase, ZETA’s value may resume its upward trend, potentially reaching a target of $5.
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