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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.
Every day, investors search for promising cryptocurrencies to capitalize on potential gains. Amidst the volatile market, numerous tokens stand out as compelling options, presenting themselves as suitable investments.
Best Crypto to Buy Now
The global cryptocurrency market has exceeded a value of $2 trillion, representing a critical moment in its recovery, thus signaling the anticipation of another bullish trend. While cryptocurrencies may seem alluring with the potential for gains, this analysis focuses on tokens, drawing attention to their unique strengths and growth prospects. This article aims to assist investors in making informed decisions by highlighting promising tokens worthy of consideration in the current market climate.
1. Aave (AAVE)
Aave (AAVE) recently announced its integration with Binance Smart Chain (BNB). With this integration, users on BNB Smart Chain gain access to Aave’s top-tier lending platform. This enhances liquidity and opens new avenues for DeFi participation.
Conversely, Aave users can tap into BNB Chain’s extensive ecosystem, benefiting from lower fees and expanded collaboration opportunities. Aave, known as the largest DeFi lending protocol, boasts a total value locked (TVL) of $8.598 billion, according to DeFi Llama.
Following the announcement, AAVE experienced modest price jumps, currently trading at $102.47 with a 12.58% intraday increase. Over the past year, its price has surged by 19% and is trading above the 200-day simple moving average.
Despite this, the sentiment around Aave’s price prediction remains neutral. The token’s Fear & Greed Index indicates 72, indicating investor greed. Moreover, Aave has recently integrated with Scroll, marking a significant milestone in the evolution of DeFi platforms.
Aave V3 market on @Scroll_ZKP, deployed by @bgdlabs, has been approved by governance and is now live!
— Aave Labs (@aave) February 12, 2024
As the first zkEVM to collaborate with Aave, Scroll’s ZK roll-up technology adds an extra layer of security to Aave’s lending and borrowing functionalities. This ensures that user funds remain safe while taking advantage of the diverse opportunities provided by Aave V3. Aave’s integration with BNB Smart Chain and collaboration with Scroll represent essential strides in the DeFi sector.
2. NEAR Protocol (NEAR)
NEAR Protocol has received significant attention in the altcoin sphere due to its bullish performance in the market. Over the past week, NEAR’s price has shown an uptrend, rising from $3.17 to $3.60. Moreover, this trend extends further over the monthly chart, where NEAR has surged by 37%.
Furthermore, NEAR Protocol is a layer-one blockchain that addresses limitations commonly found in other blockchains. These limitations include slow transaction speeds, low throughput, and interoperability issues. NEAR Protocol facilitates faster project development for developers through its provision of modular components.
Recent developments have propelled NEAR Protocol into the spotlight. Coinbase introduced perpetual futures for NEAR, leading to a surge in the token’s trading activity. Furthermore, the token saw an 11.48% increase in the past 24 hours and an 8.84% rise over the last seven days. NEAR is trading above its 200-day simple moving average, indicating positive momentum.
One keychain, many keys.
One wallet, many cards.
One NEAR account, many blockchains.
Learn how NEAR is ushering in the future of Chain Abstraction with Account Aggregationhttps://t.co/WBcol6zoHm pic.twitter.com/YQFuJHK9hG
— NEAR Protocol (@NEARProtocol) February 15, 2024
Also, market sentiment towards NEAR remains bullish, reflected in its Fear & Greed Index score of 72 (Greed). The coin has experienced 19 green trading days out of the last 30, underscoring its appeal to investors. Additionally, NEAR boasts high liquidity based on its market capitalization, further enhancing its attractiveness within the cryptocurrency market.
3. Xai (XAI)
The XAI token has shown significant gains recently amidst a relatively stable cryptocurrency market. Last week, XAI surged by 40.71%, reaching a price of $1.36, as per data from CoinMarketCap. This surge coincides with upcoming updates to the XAI staking program.
Moreover, XAI_GAMES, via the X platform, has announced the imminent launch of version 1 of XAI staking. It is scheduled for the following week, with version 2 expected in March. Market analysts have observed bullish technical patterns emerging for XAI, possibly indicating further upward movement in its price.
Furthermore, XAI aims to revolutionize the gaming industry by introducing real economies and open trade to video games. The platform allows gamers to own valuable in-game assets and trade them outside closed gaming ecosystems. The anticipated staking features have generated significant interest from investors, who believe it will drive greater adoption and usage of the XAI token.
$XAI staking v1 goes live next week.
v2 will be live in March.
Learn more about the unique and innovative nature of $XAI staking below.
— XAI 🎮⛓️ (@XAI_GAMES) February 23, 2024
With anticipation and momentum building around the project, XAI appears poised for continued strong performance. Crypto investors are closely watching the release and reception of the new staking updates, which could serve as a catalyst for further price increases in the XAI token.
4. eTukTuk (TUK)
eTukTuk is a real-world initiative addressing urban noise and air pollution in busy cities of emerging markets. It proposes a solution involving lightweight electric vehicles (EVs) known as TukTuks, constructed locally and powered by renewable energy sources. Additionally, the project aims to establish a network of EV charging stations to support these vehicles.
The overarching goal is to mitigate pollution while also addressing financial disparities. The platform’s token has witnessed significant interest during its presale. TUK has raised over $1.3 million in funds.
"Breakout crypto eTukTuk is working on improving urban transportation in developing nations with electric vehicles and blockchain technology." – @cryptonews
Read more here: https://t.co/7hr62WePzm
— eTukTuk (@eTukTukio) February 8, 2024
Currently valued at $0.02725 per token, investors are showing enthusiasm. Nonetheless, there is an eight-day window before the next price increase. Furthermore, eTukTuk promotes community engagement by rewarding various participants. This includes drivers, charging station hosts, and developers with $TUK tokens.
Moreover, this incentivizes contributions to scale the network, amplifying its positive impact on society. The project adopts a multi-chain approach, utilizing BNB Chain and Cardano to enhance accessibility and inclusivity. eTukTuk endeavors to revolutionize transportation in urban areas, prioritizing sustainability and social equity through its innovative model and token ecosystem.
5. Beam (BEAM)
Beam has recently seen a remarkable surge in its price, doubling in value over the past trading sessions. This surge can be attributed to the project’s aim to establish a versatile blockchain gaming ecosystem. Beam tokens are utilized for various transactions within the network, such as asset transfers and interactions with smart contracts.
This infrastructure promises a seamless gaming experience for users. In the last two weeks alone, Beam has experienced a substantial growth of 90.7%, indicating the potential for further upward movement. Presently trading at $0.03214, the token has witnessed a surge of over 15% in the past seven days.
However, in the last 24 hours, the token’s price has declined slightly by 7.40%. Despite the recent dip, sentiment around Beam’s price prediction remains bullish, supported by a Fear & Greed Index showing a Greed rating of 72. Additionally, out of the last 30 days, Beam has seen 17 days of positive price movement, indicating consistent growth.
Beam tokens are traded primarily on Binance. As the project continues to develop its gaming ecosystem and attract users, investors are closely monitoring its progress, anticipating further growth potential.
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