Best Crypto to Buy Now October 11 - Polygon, Filecoin, Maker

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InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now, taking into account their recent price performance.

Bitcoin has now joined the broader market in experiencing a 2% decline, resulting in a price of $27,000. This shift follows when Bitcoin resisted the overall market’s price drops. Simultaneously, altcoins are also in the red, further impacting the total market capitalization, which has decreased by over $40 billion in just 2-3 days.

Best Crypto to Buy Now

In anticipation of a bull run, recent acquisitions have spurred an upward trend in several altcoins. Tokens such as Polygon and Maker are poised for potential gains in the upcoming weeks. The following assets also appear to have the potential for a bullish trend.

Global Crypto Market Cap Chart

1. Polygon (MATIC)

Polygon serves as a Layer 2 solution focusing on enhancing the scalability and infrastructure of the Ethereum network. Its primary goal is to contribute to Ethereum’s evolution into a comprehensive multi-chain ecosystem often called the “internet of blockchains.”

MATIC is the native cryptocurrency within the Polygon ecosystem. Operating as an ERC-20 token, it is the network’s driving force.

MATIC is utilized for covering transaction fees on Polygon’s sidechains, as a means of payment within the network, and as a settlement currency between users. In addition, Polygon’s sidechains can facilitate around 65,000 transactions per second, making MATIC a noteworthy asset in the cryptocurrency space.

Recently, Polygon unveiled its Polygon 2.0 upgrade to improve the network’s scalability, security, and decentralization. This upgrade introduces a new architectural approach combining zk and optimistic rollups.

Polygon Miden is the novel ZK rollup designed to extend the EVM’s feature-set.

On Miden, users can generate their own state transitions, giving the network privacy and throughput upgrades not achievable by rollups designed for EVM compatibility.

For an update on progress to… pic.twitter.com/RxmriVWNsc

— Polygon Foundation (@0xPolygonFdn) September 29, 2023

Hence, there is anticipation among market participants for a potential upward movement in the price of Polygon’s native asset, MATIC. However, sellers are actively reinforcing resistance levels.

If the bullish trend continues and pushes the price above the $0.6 resistance, it may target the $0.7 level. MATIC is one token to watch due to its upcoming upgrade, potentially leading to substantial gains.

2. Filecoin (FIL)

Filecoin is a decentralized peer-to-peer network that overtakes traditional centralized storage solutions like Google Drive. It was conceived as an incentive layer for the Interplanetary File System (IPFS), which primarily facilitates data storage and distribution services on the blockchain. However, Filecoin has garnered attention for its capability to safeguard data location and resist censorship.

Filecoin’s core feature is its native token, FIL, which underpins the incentive system and encourages community participation within the network. FIL tokens allow users to transact with storage providers and receive rewards. This versatility stems from various use cases, establishing FIL as a noteworthy cryptocurrency.

Questions on Filecoin's #tokenomics?@FilecoinTLDR blog delves into $FIL's role and its alignment with the protocol's long-term vision. Check it out below:https://t.co/EICzPQ76Nn

— Filecoin (@Filecoin) October 7, 2023

Prior analysis of Filecoin pointed to a long-term downtrend and the possibility of its value dropping below $3. However, the cryptocurrency has recently witnessed an upward movement, retesting the $3.45 below another high-timeframe resistance zone. Moreover, its increasing popularity as a DePIN crypto indicates the potential for an upward tick in its value.

3. TG.Casino (TGC)

TG.Casino is a crypto casino platform that aims to provide a decentralized and anonymous gambling experience through the popular Telegram messaging app. While the platform is still developing, it offers several features, including various slot games, a sportsbook, and classic casino games. One aspect of this platform is its commitment to providing these services without imposing any fees, and it also offers a welcome bonus to users.

To facilitate transactions and activities within the platform, TG.Casino has introduced $TGC tokens. These tokens are currently available in a presale and serve a dual purpose. First, they offer staking rewards with a substantial annual percentage yield (APY) exceeding 3,000%. Additionally, $TGC tokens participate in a profit-sharing scheme involving token buybacks, potentially providing additional benefits to token holders.

8 hours to go, impressive entries so far! LEt's see if we can break some records. 🎰🔥⏰ https://t.co/QsH8Ak4ppO

— TG Casino (@TGCasino_) October 9, 2023

According to the project team, the token presale has garnered significant interest from investors. It is nearing the $1 million soft cap. As of the latest update, the platform has successfully sold over $690,000 worth of $TGC tokens, currently available for purchase at $0.125 per token.

100 million TGC tokens were designated for circulation, with 40 million for the presale. Notably, the minimum purchase for the presale is set at 100 tokens, and the presale will remain open until it reaches its hard cap, which has been set at $5 million. This approach allows potential investors to participate until the cap is met.

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4. Toncoin (TON)

TON’s price has consistently faced downward pressure, with a recent decrease of 0.14%, signaling a bearish trend. The coin is presently trading below the 20-day Exponential Moving Average (EMA) at $2.01, now acting as a resistance level.

Traders are closely monitoring the TON price as it approaches the 50-day EMA at $1.9465, hoping it may provide some support. To prevent further losses, it is crucial that the key support zone between $1.9332 and $1.9835 holds, which corresponds to the Fibonacci 0.382 level at $1.9837.

Toncoin price movement suggests an ascending parallel channel since experiencing increased volatility. Also, rising trading volume signifies potential increased activity in the future. Nevertheless, it’s essential to note that the Relative Strength Index (RSI) remains bearish, indicating the possibility of the price remaining within a narrow range and attempting to initiate a bullish rebound.

Investors believe TON’s price may exceed $2, reaching an interim target of $2.5 by month’s end. Nonetheless, these predictions should be viewed cautiously, as cryptocurrency markets are subject to volatility and rapid changes.

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— TON 💎 (@ton_blockchain) October 10, 2023

In related news, the MEXC crypto and derivatives exchange’s investment arm, MEXC Ventures, has invested a significant amount (estimated to be over $10 million) in Toncoin. This investment aims to advance the development of various Ton-powered mini projects, including Megaton Finance, Sonet, Fanzee, and TONplay.

Thus, Toncoin could potentially attract substantial investments, leading to an increase in its value. Based on recent data, the live Toncoin price is pegged at $2.00, with a 24-hour trading volume of $21,294,148.

5. Maker (MKR)

Over the past seven days, Maker’s price has slightly declined by 1.27%. However, the recent 24-hour price action points towards a bullish movement. It is important to note that Maker’s current trading values position it above the 20, 50, 100, and 200-day daily moving averages, indicating a degree of stability.

MKR experienced a price increase of 19.46% last month, recording a gain of 48.23% over the last three months. This upward trajectory continues, with a substantial 86.76% increase in the last six months and a year-to-date gain of 166.52%, underlining a positive long-term outlook for MKR.

Throughout the year, the price of Maker has consistently demonstrated an ascending pattern despite occasional setbacks attempting to push it below the $ 1,000 threshold. This resilience can be attributed to a notable surge in trading volume, contributing to sustained volatility. Hence, MKR’s price may potentially approach the $2000 mark, bolstered by the recent rebound from the 0 FIB levels.

The first functioning DeFi product developed by a SubDAO has gone multi-chain.

SparkLend has been successfully deployed and is now available to all users on @gnosischain.

→ https://t.co/6z0TuiZF1b pic.twitter.com/KT6MUhIiYF

— Maker (@MakerDAO) October 9, 2023

The current Maker token price is $1,403.63, with a 24-hour trading volume of $43,604,058. Maker’s circulating and the max supply are pinned at 977,631 and 1,005,577 MKR coins, respectively. While short-term fluctuations remain possible, the data suggests an overall positive trend for Maker in the long term.