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InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now, taking into account their recent price performance.
Investors are constantly searching for the best cryptocurrency to invest in. The crypto market offers opportunities for tokens to experience growth, attracting investors. This article examines those tokens with the potential for substantial returns. Furthermore, it will analyze the factors driving the rise of these particular cryptocurrencies.
Best Crypto to Buy Now
For many investors, searching for cryptocurrency with potential for growth can be tasking. However, this article examines potential tokens, including KuCoin Token, Arweave, and Maker, and explains the growing interest in these cryptocurrencies. It further assesses their recent performances to understand why they stand out as favorable options in the crypto market.
Meanwhile, The recent confirmation of the golden cross on the Bitcoin weekly chart is a positive sign for the market. This occurrence is particularly noteworthy as it is the first time on record that the 50-week SMA has crossed over the 200-week SMA for Bitcoin.
1. KuCoin Token (KCS)
KuCoin Labs has recently partnered with ETGM, a novel digital currency project exploring innovative aspects of blockchain technology. ETGM aspires to merge community warmth with the enigma of outer space, aiming to establish an adventurous digital ecosystem.
ETGM introduces a multi-chain inscription bot on Telegram. The bot is designed to offer users a versatile platform for inscriptions and aggregated transactions across significant blockchains. This bot is an all-in-one solution, facilitating easy asset access and management across diverse blockchain platforms.
In addition, ETGM actively fosters interaction and collaboration among its members through various engaging activities and reward mechanisms. KuCoin Labs’ collaboration with ETGM underscores its dedication to driving innovation in the crypto market. This partnership is anticipated to propel advancements in the BTC ecosystem, ultimately enhancing user experiences and expanding accessibility.
Furthermore, this development aligns with the recent KuCoin Token’s (KCS) price increase, witnessing an intraday rise of 1.49%. The token has seen a 29% price increase and is trading above the 200-day simple moving average.
KuCoin Token boasts a circulating supply of 80.12 million out of a maximum supply of 171.25 million. Within the Exchange Tokens sector, it ranks 8th and 22nd in the Ethereum (ERC20) Tokens sector.
2. Arweave (AR)
Arweave has recently displayed robust resilience, consistently maintaining its position above the $1.92 support level. The token experienced a surge in buying interest, leading to a 19.85% rise in its price to the current $9.73.
One noteworthy aspect is Arweave’s trading status above the 200-day simple moving average, indicating a positive trend in its price movements. The coin boasts high liquidity, supported by its substantial market capitalization. Arweave is actively traded on the Binance platform.
Furthermore, the outlook is currently bullish. This positivity is complemented by the Fear & Greed Index, which is 60 (Greed), suggesting a favorable market sentiment. The circulating supply of Arweave’s tokens is 65.45 million out of 66.00 million.
The yearly supply inflation rate is currently at 1,206.25%, indicating the creation of 60.44 million AR last year. This inflation rate is a crucial metric to consider for investors. Also, Arweave holds the 44th position in the Layer 1 sector, based on market capitalization.
3. Arbitrum (ARB)
Arbitrum is making waves in decentralized finance (DeFi) as a top layer-2 network. The decentralized exchanges on the Arbitrum network recently experienced a daily trading volume surge, surpassing Ethereum and Solana with a remarkable $1.21 billion.
Traders are expressing enthusiasm for ARB’s potential, with a 5.20% increase in the last week alone. The current sentiment in Arbitrum’s price prediction is bullish, reflected in the Fear & Greed Index at 60 (Greed).
One key indicator of ARB’s performance is its consistent trading above the 200-day simple moving average. Furthermore, Arbitrum boasts a circulating supply of 1.28 billion ARB tokens, contributing to its high liquidity based on market capitalization.
We’re excited to have discussions this week with several projects building and growing the ecosystem! 💙🧡
Set your reminders to our live spaces👇 #ArbitrumAMA
— Arbitrum (💙,🧡) (@arbitrum) January 15, 2024
The project is actively traded on Binance, further establishing its market presence. However, traders and investors continue showing confidence in the project’s potential, emphasizing its position as the best crypto to buy now.
4. Maker (MKR)
Maker (MKR) commenced the year on a bullish trajectory, acquiring 32,759 MKR tokens, equivalent to around $66.66 million. Ten wallets collectively directed this substantial move, representing 3.55% of MKR’s circulating supply. Interestingly, these tokens were directly withdrawn from exchange platforms, indicating a deliberate effort to reduce the token’s availability on these platforms.
On January 15th, a transaction occurred where a user withdrew 12,103 MKR, valued at an impressive $24.63 million. This further emphasizes the trend of accumulating MKR tokens. The large-scale accumulation signifies a shift in investor sentiment and showcases a strong belief among this investor cohort in the positive trajectory of MKR’s price.
Additionally, withdrawing MKR tokens from exchanges tends to spur increased demand due to reduced token supply. Furthermore, Maker has outpaced 83% of the top 100 crypto assets over the past year, surpassing Bitcoin and Ethereum. Also, its current trading position above the 200-day simple moving average adds another positive indicator to its performance.
DeFi thrives on its users' active participation, creating a more valuable financial ecosystem.
With the launch of the second annual State of DeFi survey, we're calling on you to contribute your unique views.
Your feedback is crucial in crafting the detailed public report that…
— Maker (@MakerDAO) January 16, 2024
Maker holds the 6th position in the DeFi Coins sector and is ranked 13th in the Ethereum (ERC20) Tokens sector. With a circulating supply of 922,137 out of a max supply of 1.01 million MKR, Maker demonstrates high liquidity based on its market capitalization.
Moreover, Maker is trading actively on Binance. The token’s yearly inflation rate is -5.68%. This negative inflation rate implies a decrease in the overall supply of MKR tokens, potentially contributing to its value retention.
5. Meme Kombat (MK)
Meme Kombat is a platform facilitating predictive betting on meme coin outcomes. The token has accumulated over $6M, constituting most of the $8M available at a fixed rate of $0.279 per token. An essential addition to the platform is the live betting system, which allows users to stake tokens and earn an Annual Percentage Yield (APY).
The staking mechanism, designed with a blend of on-chain and off-chain transactions, aims to minimize user fees. Users are presented with the choice of staking or deploying tokens for battles within the integrated gaming system. Meme Kombat stands out due to its distinctive gaming features, attracting attention and securing a noteworthy investment of $83,000 from major investors.
Having successfully raised over $5 million in its Initial Coin Offering (ICO) and reaching the 50% milestone, the platform invites potential investors to stake $MK and earn a competitive APY of 184%. The token supply is capped at 120,000,000, with 50% earmarked for the ICO.
What you can expect from the next few weeks:
We'll be doing a few kontests and live calls like "The Weekly Kombatant" and there will be a few nice ways to get a little bonus cash in your pocket🤩 pic.twitter.com/Vuf5NB0FAZ
— Meme Kombat (@Meme_Kombat) January 17, 2024
The remaining allocation encompasses staking, battle rewards, community incentives, and decentralized exchange liquidity. This, however, reflects a strategic approach to nurturing a sustainable Meme Kombat ecosystem. With 76% of the total coin supply already sold and staked, the platform anticipates diminished selling pressure on exchanges compared to newly listed tokens.
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