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A crypto analyst has identified a pattern that could lead to significant gains in the altcoin market. If this pattern holds, altcoins’ total market cap could reach $1.85 trillion soon. A potential catalyst for this growth is the anticipated launch of altcoin-focused exchange-traded funds (ETFs) next year. Introducing altcoin ETFs could attract more investors, increase demand, and potentially drive up prices.
Currently, the weekly chart for the altcoin market shows a Relative Strength Index (RSI) of 60.95. Given this backdrop, InsideBitcoins has highlighted several altcoins as potential investment options. These projects were chosen based on their performance and market conditions. This article analyzes the best crypto to buy right now.
Best Crypto to Buy Right Now
EigenLayer’s market activity reveals its token trading at $3.63, marking a daily increase of 1.65%. Meanwhile, Lido DAO has rolled out the Lido Ethereum SDK, a TypeScript-based library. Additionally, the BEST project is gaining traction, having raised over $6 million during its ongoing presale phase.
1. EigenLayer (EIGEN)
The EIGEN token, designed for the EigenLayer platform, supports decentralized digital tasks by addressing faults that require agreement among multiple observers. Unlike traditional tokens tied to specific tasks or on-chain verification, EIGEN secures tasks with issues identifiable off-chain through intersubjective consensus. This broad applicability makes it a versatile tool for managing diverse services on the EigenLayer network.
Moreover, EigenLayer’s current market performance shows the token trading at $3.63, reflecting a 1.65% daily gain. Its market cap is $765.58 million, with trading volume surging by 73.97% to $225.45 million over the last 24 hours. The volume-to-market cap ratio is 0.5744, indicating healthy liquidity relative to its market size.
EIGEN’s price trends are near a cycle high, trading 3.40% below its peak and 10.27% above the recent low. The platform has a 30-day volatility rate of 14%, signaling moderate price fluctuations. Analysts predict a significant price increase, projecting EIGEN to reach $11.88 by January 2025, a 224.95% gain from current levels.
Sentiment around EIGEN remains mixed, with a bearish outlook paired with a “Greed” reading on the Fear & Greed Index. This suggests cautious optimism as investors weigh potential gains against risks. As a key component of EigenLayer, EIGEN aims to improve security and reliability across decentralized networks by fostering shared accountability. Its innovative approach positions it to address complex challenges in the evolving digital ecosystem.
2. Worldcoin (WLD)
Worldcoin is currently priced at $2.10, with a 24-hour trading volume of $516.40 million. The token’s market cap stands at $1.70 billion, representing a market dominance of 0.05%. Over the past 24 hours, the price has dipped by 1.45%.
The 24-hour volume-to-market-cap ratio is 0.3044, indicating significant trading activity relative to its size. The Relative Strength Index (RSI), a measure of market momentum, is at 58.18, suggesting that Worldcoin is in a neutral phase. Its 30-day volatility is 20%, indicating relatively stable price movements compared to more volatile assets.
Worldcoin’s goal is to create a large-scale identity and financial network to reach a global audience of over a billion people. WLD operates as an ERC-20 token on Ethereum, but user grants are distributed on the Optimism network, where most transactions are expected to occur.
According to Coincodex, Worldcoin’s price may rise by 232.53% to $6.93 by January 30, 2025. Predictions like these are based on current trends and assumptions but are subject to market changes.
3. Best Wallet Token (BEST)
Best Wallet introduces a new cryptocurrency, Best Wallet token (BEST), as part of its Web3 wallet platform. This wallet aims to streamline the crypto experience by integrating various features into a single app. Unlike traditional wallets like MetaMask or Phantom, Best Wallet operates as a non-custodial wallet, meaning users retain control of their funds and private keys.
The platform supports over 60 blockchains, including Ethereum, Bitcoin, and Solana. It offers features such as a crypto debit card for easy spending, decentralized exchanges for trading, and aggregators for staking and token presales. These tools allow users to explore investment opportunities and earn rewards without navigating multiple platforms.
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— Best Wallet (@BestWalletHQ) December 19, 2024
Meanwhile, one notable feature is the ‘Upcoming Tokens’ presale aggregator. This tool identifies promising blockchain projects in their early stages, enabling users to buy tokens before they become widely available. Best Wallet also focuses on security by integrating fraud protection measures to safeguard user assets.
Investor interest in the project is growing, with over $6 million raised during its presale phase. The current price of BEST is $0.023425. The wallet aims to simplify crypto management while providing advanced tools for both new and experienced users.
Visit Best Wallet Token Presale
4. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is currently trading at $449.02, showing a decline of 0.56%. Over the past 24 hours, it recorded a trading volume of $339.65 million, marking a 17.55% increase. This cryptocurrency demonstrates strong market activity, reflecting high liquidity relative to its market capitalization.
Furthermore, BCH is trading above its 200-day simple moving average, a metric often used to identify long-term trends. The 14-day Relative Strength Index (RSI) stands at 27.86, which signals an oversold condition.
In the past 30 days, BCH has shown positive price movement on 17 occasions, representing more than half the period. This frequency of “green days” could indicate intermittent bullish interest.
For investors or observers, these factors present a mixed picture. The oversold RSI and the potential for a rebound align with some positive market dynamics, like high liquidity and sustained trading above a key average.
5. Lido DAO (LDO)
Lido DAO has introduced the Lido Ethereum SDK, a TypeScript library designed to simplify adding Lido’s staking features to off-chain applications like wallets and widgets. This toolkit aims to streamline integration with the Lido on Ethereum protocol by offering tools, pre-built methods, and detailed documentation.
The current price of Lido DAO Token (LDO) is $1.86, reflecting a 2.90% rise over the past week. Its market cap is $1.66 billion, a 2.91% decline. However, the 24-hour trading volume has grown 9.02% to $181.77 million, suggesting increased trading activity.
The token trades 15.95% above its 200-day simple moving average (SMA) of $1.60, indicating long-term upward momentum. It has shown 17 positive trading days out of the last 30, or 57%, signaling consistent performance.
Introducing the Lido Ethereum SDK – a TypeScript library to seamlessly integrate Lido’s staking functionality into your off-chain apps.
Let’s explore what it offers for developers 👇 pic.twitter.com/HH0T8JnA1y
— Lido (@LidoFinance) December 23, 2024
The Fear & Greed Index, currently at 64 (Greed), reflects moderate market optimism. LDO’s 14-day Relative Strength Index (RSI) stands at 39.82, suggesting neutral conditions with potential sideways movement.
Meanwhile, the token boasts high liquidity for its market cap and trades on platforms like Binance. Its yearly inflation rate is 0.24%, indicating minimal supply changes. Price predictions suggest LDO could reach $5.98 by January 2025, a potential 224.80% increase.
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