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InsideBitcoins highlights the best cryptocurrencies to invest in right now, recommending them as potential ideal buys for market participants looking for gains.
Following a tough start to the week for crypto investors, Bitcoin has rebounded from its $49,000 low, reaching $5,000 today. Altcoins also see gains, with green charts indicating a broader market recovery. As a result, large investors are becoming more active in the crypto market as momentum builds. Many market participants are now seeking the best cryptocurrencies to buy, aiming to capitalize on the recovery and achieve substantial gains.
Best Cryptocurrencies to Invest in Right Now
Quant is experiencing a significant price increase, at $62.03 at press time. Recently, Uniswap partnered with Brooklyn designer KidSuper to combine crypto, culture, and community with digital and physical product drops. Meanwhile, Mega Dice is making waves in the crypto gaming sector. It is currently in its presale phase at $0.105266, with $1.6 million already raised.
1. Pendle (PENDLE)
PENDLE has recently experienced a significant surge, increasing nearly 48% to $2.79. However, over the longer term, PENDLE’s price has declined by 30.6%, dropping from $3.63 on August 1 to $1.85 on August 5.
The recent price spike coincides with Upbit’s announcement of a new listing. Upbit has scheduled August 6 for PENDLE trading to begin, offering trading pairs in Korean won (KRW) and Bitcoin (BTC).
Furthermore, Pendle Finance has also announced the launch of its principal tokens (PTs), specifically PT-weETH and PT-sUSDe, on the Term Structure platform. This development enhances the utility of yield tokens, aiming to provide more benefits for users, including those using platforms like Lido Finance, Ether.fi, and Ethena Labs.
Additionally, Pendle is offering a 12% fixed annual percentage yield on Ethereum through its platform, with maturity set for this month. These recent developments have positively impacted Pendle’s market performance.
Pendle Finance operates as a decentralized finance (DeFi) platform, focusing on tokenizing yield on the Ethereum network. It allows users to trade tokens and earn yields by splitting their assets into two categories: Principal Tokens and Yield Tokens.
This approach has increased Pendle’s popularity in the DeFi space. Notable industry figures like BitMEX’s co-founder Arthur Hayes have described the project as “the future of DeFi.”
2. Flare (FLR)
Flare is a layer-one blockchain that leverages the Ethereum Virtual Machine (EVM) to enhance blockchain utility. The platform provides developers with decentralized access to reliable data from various blockchains and the Internet, enabling new applications and monetization opportunities.
Furthermore, it supports decentralized applications operating across multiple blockchains with a single deployment. Recently, Flare introduced a new DeFi Emissions Program aimed at delivering industry-leading yields. This program is set to boost Flare’s DeFi ecosystem by increasing liquidity, fostering dApp development, and enhancing overall network participation.
The initiative, approved through community governance, involves a 510 million FLR DeFi emissions program. It incentivizes the provision of deep stablecoin, FLR, and ETH liquidity to Flare’s network. This support is crucial for the upcoming launch of FAssets, a trustless bridge enabling DeFi for non-smart contract assets like BTC, XRP, and DOGE.
The 510 million FLR DeFi emissions program is now live ☀️
Help us grow @FlareNetworks' DeFi ecosystem and boost the success of the FAssets launch.
Rewards will be distributed to protocol participants monthly.
Learn how to get involved: https://t.co/S9zrpkppYJ pic.twitter.com/T8WYIJxtZh
— Flare ☀️ (@FlareNetworks) August 5, 2024
At press time, the FLR token is priced at $0.01699, showing an 8.0% decrease over the last 24 hours. The 14-day Relative Strength Index (RSI) stands at 50.48, indicating that the token is currently neutral and may trade sideways. Technical analysis from CoinCodex suggests that Flare could trade between $0.018926 and $0.089576 in the future. If it reaches the upper target, FLR could see significant growth.
3. Quant (QNT)
Quant aims to connect blockchains and networks globally without compromising efficiency and interoperability. It addresses the interoperability issue by introducing the first blockchain operating system. Moreover, the platform is developed as an operating system utilizing distributed ledger technology.
Its Overledger Network connects various blockchain networks. Quant is the first to create an OS specifically for blockchains. Overledger acts as a gateway, allowing any blockchain-based project to access other blockchains. It also facilitates the connection of applications within the same blockchain ecosystem, such as Ethereum.
At the time of writing, Quant’s price is $62.03, with a 24-hour trading volume of $26,048,141. This reflects a 3.88% price increase in the last 24 hours, though it has declined by 9.83% over the past week. With a circulating supply of 15 million QNT, Quant’s market cap is valued at $909 million.
The token has traded positively for 15 days in the last 30 days. Furthermore, The 14-day Relative Strength Index (RSI) is 55.50, indicating that the QNT token is currently neutral and may trade sideways.
4. Uniswap (UNI)
In recent news, Uniswap has partnered with Brooklyn-based designer KidSuper. This collaboration aims to merge crypto, culture, and community with digital and physical product drops throughout the summer and fall of 2024. This initiative highlights Uniswap’s efforts to integrate more deeply into cultural trends and community engagement.
Additionally, the Uniswap Foundation has allocated $26.12 million for grants and $10.69 million for other operational expenses in 2025. The Foundation holds $36.81 million in cash and stablecoins, along with 680,000 UNI tokens.
Furthermore, the Foundation plans to use the money and stablecoins for grants while reserving the UNI tokens for employee rewards. This financial strategy underscores Uniswap’s commitment to fostering innovation and supporting its ecosystem through strategic funding and incentives.
A little distraction for the day:
Uniswap Labs X @KidSuper collection is now live ☆
And everyone with a Uniswap Wallet gets 50% off their orderhttps://t.co/imTbgDiU44 pic.twitter.com/Xkw2mf4yfD
— Uniswap Labs 🦄 (@Uniswap) August 5, 2024
Uniswap recently experienced a 13% rebound, pushing its price above the $5.6 level. This follows a period of bearish performance, raising optimism among market participants about the potential for further upward momentum.
Moreover, UNI is trading at approximately $5.85, reflecting a 3.7% increase at press time. The token boasts a market cap of over $4.4 billion and a trading volume exceeding $165 million. Over the past 24 hours, the asset’s market cap has grown by 13.23%, while its trading volume has decreased by 13.55%.
5. Mega Dice (DICE)
Mega Dice has emerged as a noteworthy token in the crypto gaming sector. Currently in its presale phase, the token is priced at $0.105266, with $1.6 million already raised. The token aims to facilitate seamless transactions and offers staking rewards and exclusive benefits to its holders. Thus, it stands out among the best cryptocurrencies to invest in now.
Haven’t bought $DICE yet? Follow the link below to buy in a few easy steps – not convinced, view our reasons below ⤵️
BUY $DICE HERE: https://t.co/E5WFsXQhfQ
Current Price: 1 $DICE = $0.100254 🚀
Here’s why $DICE is set to become the leading GameFi token, outpacing all… pic.twitter.com/Y3KZDxmkHH
— Mega Dice Casino (@megadice) July 31, 2024
Token holders can stake their DICE tokens to receive daily rewards based on the casino’s performance. This model aligns the interests of the platform with those of its users, potentially creating a more sustainable and engaging ecosystem.
Moreover, Mega Dice conducts airdrop promotions exclusively for DICE holders. These airdrops distribute tokens based on gaming activity and staking levels, adding significant value for early investors and active users during the presale phase.
Furthermore, the project has allocated 147 million DICE tokens for presale buyers, representing 35% of the total supply. Additionally, 63 million DICE, accounting for 15% of the supply, will provide liquidity once the token is listed on a decentralized exchange (DEX).
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