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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.
With thousands of cryptocurrencies in the market, selecting the ideal token for investment can be overwhelming. To help investors get their bearings, Insidebitcoins carefully selects the best cryptocurrencies to buy based on their market capitalization or total value. This curation aims to empower investors with the information needed to make well-informed decisions in the crypto market.
Best Crypto to Buy Now
This article highlights the most promising cryptocurrencies that have stood out in terms of current market values. It highlights Bittensor’s notable strides in the market and analyzes XAI integration with Thirdweb. Furthermore, the reason behind Maker’s recent upsurge is explained.
1. Bittensor (TAO)
Bittensor (TAO) has made notable strides, positioning itself as a leading player. Moreover, TAO has seen a commendable uptick, registering an intraday increase of 16.54% and currently trading at $328. With a market cap reaching $2.01 billion, it holds the 50th spot among cryptocurrencies.
Despite the surge, Bittensor’s daily trading volume remains relatively modest at approximately $18 million, reflecting a certain level of caution in the market. However, its consistent trading above the 200-day simple moving average underscores the project’s confidence.
Bittensor’s distinctive approach involves creating a decentralized market where other intelligence systems price intelligence. With a circulating supply of 6.11 million TAO out of a maximum supply of 21 million, the project is the second-largest in the AI Crypto sector by market cap. The Bittensor community remains neutral in its price prediction sentiment, and the Fear & Greed Index stands at 48, indicating a balanced market sentiment.
Bittensor’s recent success showcases its strong position in the decentralized machine-learning field. Its unique approach to creating a decentralized market for intelligence sets it apart. By maintaining stability and contributing to discussions on decentralized AI, Bittensor remains a significant token in the market.
2. Pyth Network (PYTH)
Pyth Network has swiftly reached a market cap of approximately $595.25 million, signaling an expansion within a short timeframe. The token’s role as a decentralized oracle sets it apart in the crypto market. Pyth Network prioritizes delivering precise market data directly from traders and major exchanges.
Moreover, the PYTH price has experienced an 8.91% increase, reflecting high liquidity based on its substantial market cap. Also, the token attained its peak price on November 24, 2023, reaching an all-time high of $0.555093. Its lowest recorded price, $0.00, lacks a specific date. However, since the all-time high, the lowest point reached was $0.222316, while the highest post-cycle low price was $0.439294.
The Pyth week in review 🔮
Another week packed with news and updates for the Network!
Pythians have been furiously staking $PYTH and now more than 54k wallets have staked in preparation for governance and the upcoming DAO Constitution vote.
🏅 Milestones
– 54k stakers
– 187k+… pic.twitter.com/kGqyZahCXj— Pyth Network 🔮 (@PythNetwork) January 20, 2024
Currently, 1.50 billion PYTH tokens are in circulation out of a maximum supply of 10.00 billion. Furthermore, Pyth Network holds the 21st position in the Solana Network sector. As Pyth Network actively extends its network, investors and enthusiasts keenly observe its price movements.
3. Xai (XAI)
XAI announced its integration with a Web3 development tool platform, Thirdweb. This collaboration aims to revolutionize the gaming experience by integrating Thirdweb’s advanced technology into XAI’s gaming platform. Furthermore, it aims to enhance the gaming experience by incorporating Thirdweb’s advanced technology into XAI’s gaming platform.
Moreover, this integration encompasses a range of sophisticated resources, including pre-built smart contracts, support for popular game development engines, etc. The partnership between XAI and Thirdweb has contributed to XAI’s recent growth.
XAI’s current price is $0.7174. Moreover, XAI has experienced an uptrend in its trading volume, which has surged by $0.7174 to $109,855 in the last 24 hours. The token demonstrates high liquidity with a circulating supply of 277.12M XAI out of a maximum supply of 2.50B. Furthermore, it is solidified by its listing on the Binance exchange.
Excited to announce our partnership with @thirdweb.
We're building an on-chain game engine together to push Web3 gaming forward.
Game developers can take advantage of ThirdWebs best in class Wallet SDK's, contracts, RPC's, and more.
— XAI 🎮⛓️ (@XAI_GAMES) January 23, 2024
The collaboration between XAI and Thirdweb signifies a move towards enhancing the gaming ecosystem. By this, XAI is poised to offer its users a more seamless and feature-rich experience. The increased trading volume and liquidity suggest growing investor interest in the potential impact of this collaboration on the gaming industry.
4. Maker (MKR)
MKR has been a superior token in real-world asset (RWA) transactions, showcasing resilience amid market fluctuations. The token’s recent surge in RWA transaction volume underscores sustained activity and reflects a positive sentiment toward the MakerDAO ecosystem.
Furthermore, another reason for Maker’s upsurge is its smart move into tokenized Treasury Bills (T-Bills). This move aligns with Maker’s goal of expanding its utility and influence within the DeFi space.
Even with a short dip in value, MKR is now on the upswing, gaining a solid 6% in just one day. Impressively, the token has seen a remarkable 50% increase in valuation over the last month. This signals a favorable outlook for the altcoin in the immediate future.
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
In addition, Maker has outpaced 85% of the top 100 crypto assets over the past year. Also, trading above the 200-day simple moving average further solidifies Maker’s position, indicating sustained market confidence in the project. The token’s current circulating supply is 922,217 MKR out of a maximum supply of 1.01 million.
Maker holds the sixth position in the DeFi Coins sector and eleventh in the Ethereum (ERC20) Tokens sector. This dual-sector ranking underscores Maker’s multifaceted presence and influence within the decentralized finance ecosystem.
5. Sponge V2 (SPONGEV2)
Sponge V2 represents the enhanced version of the $SPONGE meme coin. In 2023, it marked a significant achievement as its market cap surged from $1 million to over $100 million. This remarkable growth has positioned SPONGEV2 as the best crypto to buy now.
Sponge V2’s strategic roadmap outlines initiatives, including primary exchange listings, capitalizing on the support of a strong community. These developments aim to pave the way for further growth and attract interest from prospective investors.
Furthermore, Sponge V2’s introduced the Stake-to-Bridge model. This model is crafted to ensure a seamless transition for existing $SPONGE holders to V2. The project aims to retain loyalty through incentivization strategies and a staking mechanism, with staked V1 tokens locked for four years. Moreover, a promising minimum Annual Percentage Yield (APY) of 40% underscores the commitment to fostering long-term investor engagement.
#SpongeV2 is heating up 🔥
We’re not stopping until we find all the damp 🧽💦💦$SPONGE #CryptoCurrencies #100x #Bullish #Uniswap #Coinbase pic.twitter.com/2VItrw9epZ
— $SPONGE (@spongeoneth) January 23, 2024
In addition to these developments, Sponge V2 introduces a Play-to-Earn (P2E) game, adding a playful and rewarding element to the ecosystem. The game offers free and premium versions, allowing players to earn V2 tokens and enhancing the tokens’ utility and interactive appeal.
Besides, SPONGEV2 has a total token supply of 150 billion, strategically allocated to support various aspects of its ecosystem. Moreover, 43.09% is earmarked for staking rewards, while 8% is allocated to P2E gaming. This distribution highlights Sponge’s commitment to fostering community engagement and incentivizing user participation.
Moving on to other news, Grayscale Bitcoin Trust ETF (GBTC) has witnessed a reduction of almost $4 billion in assets, raising questions about its standing among investors. Contrastingly, competing cryptocurrency products experienced a contrasting fate, with a combined influx of $409 million on Tuesday alone.
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