Best Crypto to Buy Now November 8 - 1inch Network, Polygon, Tezos

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InsideBitcoins regularly curates a list of the best cryptocurrencies to buy now, considering their recent market performance.

The crypto market has experienced modest changes in market capitalization and dominance. Increased trading activity and the prominence of stablecoins highlight a growing interest in the crypto space, potentially indicating a desire for stability among market participants. Bitcoin’s dominance remains strong, suggesting that it continues to play a pivotal role in the broader crypto ecosystem.

Best Crypto to Buy Now

In anticipation of a bull market, recent acquisitions have triggered an upward trajectory in various altcoins. Tokens like Polygon and Maker are well-positioned for potential gains in the weeks ahead. Additionally, several other assets are showing promising signs of a bullish trend.

1. 1inch Network (1INCH)

1inch Network has recently displayed substantial investment potential. The coin is priced at $0.373743, with a 24-hour trading volume of $259.99 million. 1inch’s market capitalization is valued at $390.19 million, representing a market dominance of 0.03%. Over the past 24 hours, the 1INCH price has increased by 8.87%, placing it among the best crypto to buy now.

Regarding token supply, the current circulating supply of 1inch Network Token is 1.04 billion out of a maximum supply of 1.50 billion. Notably, the yearly supply inflation rate is relatively high at 78.62%. Thus resulting in the creation of 459.52 million 1INCH tokens over the past year.

1inch Network Token is ranked 15th in the DeFi Coins sector by market capitalization. It holds the 5th position in the Yield Farming sector. Likewise, it is positioned at 33rd in the Ethereum (ERC20) Tokens sector.

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— 1inch Network (@1inch) November 7, 2023

Key highlights include the token trading above the 200-day simple moving average. As such, it experienced 20 positive trading days out of the last 30 (67%). It also demonstrates high liquidity based on its market capitalization.

2. Polygon (MATIC)

The latest release, Miden VM version 0.7, by the Polygon Miden team, has introduced several significant improvements. This update has triggered the attention of investors, catapulting MATIC to the best crypto to buy now.

Furthermore, this project aims to enhance the virtual machine’s performance by approximately 30%. It primarily achieves this by incorporating a modified Falcon signature verification method, a fundamental component of Polygon Miden’s infrastructure.

Falcon, a digital signature scheme, is renowned for its security features, particularly post-quantum security. Unlike conventional signature schemes like RSA and ECC, Falcon offers a more efficient solution with smaller key sizes. This is a crucial step in blockchain applications, where storage and computational resources are often constrained.

Polygon’s price is pegged at $0.767560, representing an intraday trading volume and a market cap of $857.63 million and $6.15 billion, respectively. MATIC’s market dominance is recorded at 0.46% and has seen a 7.17% price increase in the last 24 hours.

The sentiment surrounding Polygon’s price prediction is currently bullish, as the market conditions indicate. However, the Fear & Greed Index registers at 66, suggesting a state of greed among investors.

This month, the team behind Polygon Miden released a new version of Miden VM (v0.7). This latest version includes a variety of new features, the sum of which improved VM performance by 30%. Among those new features is a variation of Falcon signature verification, a key building… https://t.co/XoBJ6ZDnbj

— Polygon Foundation (@0xPolygonFdn) October 26, 2023

At present, Polygon boasts a circulating supply of 8.01 billion MATIC out of a maximum supply of 10.00 billion MATIC. Regarding market cap ranking, Polygon is positioned at #6 in the Proof-of-Stake Coins sector. Also, it sits #4 in the Ethereum (ERC20) Tokens sector and #1 in the Layer 2 sector.

Polygon’s key highlights include trading above the 200-day simple moving average, a positive performance concerning the token’s sale price. Moreover, nineteen out of the last 30 days were marked as green for MATIC, signifying a 63% positive trend.

3. Tezos (XTZ)

Millon recently partnered with Arteïa, a Tezos blockchain platform to authenticate artworks. This collaboration aims to transform the art industry by harnessing blockchain technology’s transparency and security features.

Given the growing issue of counterfeit artworks in the market, the demand for a dependable and immutable authentication system for art has become increasingly urgent. Through the Tezos blockchain, Millon and Arteïa seek to provide a reliable platform that guarantees the authenticity of art pieces. This partnership is expected to benefit both artists and collectors. Thus contributing to the overall advancement of the art market.

Tezos’ price is $0.854807, with an intraday trading volume and a market capitalization of $94.13 million and $818.99 million, respectively. Tezos accounts for 0.06% of the total market dominance. Over the past 24 hours, XTZ has witnessed a 3.91% price increase.

Tezos’ current circulating supply is 958.10 million XTZ out of a maximum supply of 937.87 million XTZ. The yearly supply inflation rate is currently at 5.20%, creating 47.34 million XTZ in the last year.

Arteïa's innovative NFC chips are taking art authentication to the next level. @AuctionMillon auction house is pioneering the use of NFC chips and using the Tezos blockchain to certify the digital traceability of art lots. This ensures the authenticity of every piece and…

— Tezos (@tezos) November 7, 2023

In the market cap rankings, Tezos is ranked 13th in the Proof-of-Stake Coins sector, holds the top position in the Tezos Network sector, and is ranked 30th in the Layer 1 sector. Hence, Tezos is well-placed as the best cryptocurrency to buy now.

Moreover, the Tezos price prediction sentiment currently leans towards a bullish outlook. Similarly, the Fear & Greed Index reflects a value of 66, indicating “Greed” sentiment.

4. Bitcoin ETF Token (BTCETF)

Is Bitcoin ETF Token the best crypto to buy now? The BTCETF Token, a recently launched cryptocurrency, has garnered substantial attention with a presale that commenced on November 6, 2023. The token is built on the Ethereum network as an ERC-20 token. Within the first 2 days of its presale, BTCETF has raised more than $72,000.

Prepare for the upcoming revolution in the #Crypto and #StockMarket world as #Bitcoin ETFs strive to make digital assets more accessible for all traders. 🌍

With the backing of influential figures like @BlackRock, the future of #BitcoinETF looks promising! #Crypto #Web3 pic.twitter.com/LtkZyoAmUp

— BTCETF_Token (@BTCETF_Token) November 8, 2023

The presale was initiated with a token price of $0.005 and is structured to experience a 36% price increase across multiple presale rounds. This tactic is aimed at fostering a sense of urgency among prospective investors. Moreover, the token does not impose minimum or maximum investment limits and seeks to raise nearly $5 million.

One noteworthy aspect of BTCETF is its high staking yields, which can reach up to 5,410%. Over 5.7 million tokens have been staked, constituting 25% of the total token supply. This staking mechanism is implemented as a means to bolster network stability. In addition to the staking rewards, BTCETF has incorporated deflationary measures to enhance token holder value and deter rapid profit-taking.

Visit the Bitcoin ETF Token presale.

5. Mantle (MNT)

Mantle Network has collaborated with Ondo Finance to introduce USDY, offering a secure alternative to traditional stablecoins. USDY is underpinned by tangible assets, specifically a combination of U.S. treasuries and bank demand deposits.

This lunch aims to establish a bridge from Ethereum Layer 1 to Mantle Layer 2, enhancing its accessibility. The key value proposition of USDY lies in its ability to generate yield from its underlying assets. Thus shifting the paradigm for how digital currency yield is perceived and pursued.

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📍https://t.co/l3v8VcECpP pic.twitter.com/U1StjCf61o

— Mantle (@0xMantle) November 7, 2023

The current sentiment regarding the price prediction of Mantle is bullish, and the Fear & Greed Index stands at 66 (Greed). Over the past 30 days, there have been 15 green days, indicating a positive performance trend. Moreover, the token is trading close to its cycle high, placing it among the best crypto to buy now.