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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.
Several cryptocurrencies continue to captivate investors and enthusiasts. As investors comb through the market, they are faced with the question: “What are the best cryptocurrencies to buy now?” Insidebitcoins answers this question, curating the best tokens with standout potential. This article covers the best crypto to buy now, shedding light on standout assets, emerging trends, and factors that can shape your investment strategy.
Best Crypto to Buy Now
The U.S. Securities and Exchange Commission (SEC) approved trading several exchange-traded funds (ETFs) linked to the spot price of Bitcoin. Starting Thursday, these ETFs will be available for trading in the U.S., marking a significant milestone after more than ten years of regulatory discussions.
The SEC approval covers 11 ETFs, with major players like BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck involved. This decision comes after months of talks between regulatory bodies and these investment firms.
Furthermore, BlackRock’s iShares Bitcoin Trust and Grayscale Bitcoin Trust have already initiated trading in the early premarket hours. The VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21Shares Bitcoin ETF are anticipated to commence trading shortly.
1. Ripple (XRP)
XRP is priced at $0.596589, boasting a 24-hour trading volume of $3.93B and holds a market dominance of 1.83%. Ripple ranks 5th in the Layer 1 sector, based on market cap.
Furthermore, XRP hit its highest price on January 4, 2018, reaching $3.92, while its lowest point was recorded on July 7, 2014, at $0.002802. Following a recent low of $0.113268, it has reached a peak of $1.977930 in the current cycle.
The sentiment surrounding XRP’s price prediction remains neutral, aligning with a Fear & Greed Index score of 76, indicating extreme greed. Ripple’s performance presents positive signs, characterized by a consistent price increase and substantial liquidity based on its market cap.
The neutral sentiment and high Fear & Greed Index provide a well-rounded understanding of XRP’s current position in the market. Ripple’s performance presents positive signs, characterized by a consistent price increase and substantial liquidity based on its market cap.
2. Arweave (AR)
Arweave has experienced a 22% price increase over the past year, consistently trading above its 200-day simple moving average. In the recent 24-hour period, the AR token recorded a 13.96% price surge. Investors currently show optimism, as indicated by a Fear & Greed Index score of 76, reflecting extreme greed.
The token has demonstrated positive performance relative to its initial sale price. Moreover, 15 days out of the last 30 were marked green, representing a 50% positive trading trend. Arweave exhibits high liquidity, as evidenced by its market cap.
Furthermore, the circulating supply of Arweave is 65.45 million, out of a maximum supply of 66.00 million AR. The yearly supply inflation rate is reported at 96.00%, creating 32.06 million AR in the past year. In addition, Arweave currently ranks 45th in the Layer 1 sector based on market capitalization.
3. Toncoin (TON)
Toncoin has observed an 8% price increase, with a recent 2.83% rise in the last 24 hours. After a period of underperformance in recent months, this upturn in Toncoin’s value has gathered attention from investors.
TON boasts a circulating supply of 3.46 billion out of a maximum supply of 5.00 billion. The current annual supply inflation is 183.00%, with 2.24 billion TON created last year. Toncoin ranks 6th in the Proof-of-Stake Coins sector and 10th in the Layer 1 sector based on market capitalization.
Despite these positive movements, the Toncoin price prediction sentiment remains neutral. However, the Fear & Greed Index indicates a value of 76, signaling extreme greed in the market.
🚀 @thenotcoin, #TON-based P2E game on Telegram, has reached 4.1M+ users in just 1 week, becoming the fastest-growing Web3 game ever, on the world’s fastest #blockchain!
Let’s discover how 🧵⬇️ pic.twitter.com/vZt8gaAYQf
— TON 💎 (@ton_blockchain) January 9, 2024
Furthermore, Toncoin is currently trading above the 200-day simple moving average. Investors may find interest in the project’s technical indicators and market rankings. However, it is crucial to approach these developments with a neutral perspective and consider the broader market context.
4. Sponge V2 (SPONGEV2)
Sponge V2 witnessed a significant change last year, marked by a remarkable increase in market capitalization from $1 million to $100 million. This shift indicates the project’s commitment to strengthening its market presence, presenting opportunities for current and prospective investors.
A notable feature of Sponge V2 is the adoption of the Stake-to-Bridge model. This aims to facilitate a smooth transition for $SPONGE holders to V2. Users can stake their V1 tokens, which will be locked in for four years, offering a minimum annual percentage yield (APY) of 40%.
This loyalty reward system ensures a seamless shift for token holders. Furthermore, Sponge V2 incorporated a game investors can play to earn more V2 tokens. The Play-to-Earn (P2E) game is available in free and premium versions. The game allows players to earn V2 tokens, contributing to the project’s utility and interactive appeal.
This introduction adds a playful yet rewarding element for users. In addition, Sponge V2 boasts a total token supply of 150 billion, emphasizing a focus on community engagement and user rewards. Also, 8% of the token supply is allocated to the Play-to-Earn gaming aspect, enhancing the overall utility of the tokens.
Currently, 4,600,326,590 $SPONGE tokens are staked, valued at $3,963,388.83 with an impressive 351% APY. SPONGEV2‘s evolution underscores its commitment to providing a strategic and user-friendly platform. The Stake-to-Bridge model and the introduction of the Play-to-Earn game are key elements reinforcing the project’s appeal.
5. Polygon (MATIC)
Libre is set to launch a dedicated chain utilizing the Polygon Chain Development Kit (CDK). The aim is to facilitate widespread access to global alternative investment funds. This platform is specifically designed to adhere to legal and regulatory compliance standards.
It grants regulated institutions worldwide the capability to generate and issue their own on-chain tokenized assets. Furthermore, the price of MATIC showed a 5.59% increase last year, indicating a positive trajectory. Polygon ranks 8th in the Proof-of-Stake Coins sector and 4th in the Ethereum (ERC20) Tokens sector.
MATIC also ranks 1st in the Layer 2 sector, placing it among the best crypto to buy now. The current price of MATIC has increased by 8.46% in the last 24 hours. The price prediction sentiment is bullish, and the Fear & Greed Index is 76 (extreme greed).
In addition, 8.01 billion MATIC tokens are circulating out of a maximum supply of 10 billion MATIC. Technically, Polygon is trading above the 200-day simple moving average, showcasing positive performance compared to its token sale price. Additionally, it boasts high liquidity based on its market cap.
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