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The cryptocurrency market is currently experiencing bullish momentum, with anticipation building around Bitcoin potentially surpassing the $70,000 mark. Market participants are also looking forward to upcoming tech earnings reports, which may further boost overall sentiment.
Amid this positive trend, several altcoins are showing notable strength, including ApeCoin, Axelar, and Toncoin. These cryptocurrencies are demonstrating resilience and increased activity, making them stand out in the market. This analysis explores the best crypto to buy right now, providing insights for investors seeking promising tokens in a growing market.
Best Cryptocurrencies to Invest in Right Now
ApeCoin has recently launched an automatic yield feature, allowing users to generate passive income by staking their APE tokens. Axelar also made headlines with its new collaboration with the Ton Foundation, aiming to improve The Open Network’s (TON) interoperability with other blockchains. Meanwhile, MEMEBET has raised over $500,000 in its ongoing presale, where early investors are purchasing tokens at a price of $0.026 each.
1. ApeCoin (APE)
ApeCoin recently introduced an automatic yield mode, enabling users to earn passive income by staking their APE tokens. This feature allows holders to generate returns without active participation. Over the weekend, ApeCoin’s value doubled, reaching $1.5, a level not seen since April, according to data from CoinDesk.
Additionally, the launch of LayerZero on ApeChain may have contributed to APE’s recent rally. LayerZero allows different blockchains to communicate and transfer data, making the ApeChain network more versatile. LayerZero’s integration with APE tokens also facilitates “cross-chain” transfers, enabling transactions across various blockchains more efficiently.
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Stablecoins bridged into ApeChain are converted to DAI and deposited into sDAI, accumulating yield based on the MakerDAO savings rate.
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— ApeCoin (@apecoin) October 20, 2024
Despite strong weekly gains of 93.01%, ApeCoin has experienced an intraday decline of 14.41%, with the token currently trading at $1.46. Nonetheless, market sentiment remains optimistic. The Fear & Greed Index, which gauges market sentiment, shows a score of 70, indicating Greed.
The token has also seen 18 green days out of the last 30 days. Its liquidity is considered high in relation to its market capitalization, which typically indicates ease of trading. Analysts remain hopeful about ApeCoin’s future. According to Coincodex, predictions suggest that the token could rise by 220.71% and reach $4.76 by November, signaling strong positive expectations.
2. Axelar (AXL)
Axelar recently announced a partnership with the Ton Foundation to enhance the interoperability of The Open Network (TON) with other blockchains. This collaboration aims to simplify cross-chain asset transfers and facilitate decentralized applications across multiple networks.
In terms of market performance, AXL has seen a notable surge of over 56% in the past month. The coin is currently trading between $0.62 and $0.92 and is approaching a resistance level of $1.04. A successful breakout above this point could drive the price toward its next resistance at $1.34, which would represent a potential upside of over 40%.
Announcing TON x Axelar. Experience Web3 amplified like never before 🔊@ton_blockchain will integrate Axelar's Mobius Development Stack (MDS) as an interoperability layer, connecting the TON Ecosystem with new builders, users + liquidity 🧵👇 pic.twitter.com/FNKySsCyxx
— Axelar Network (@axelar) October 17, 2024
Market sentiment around Axelar appears bullish, with the Fear & Greed Index indicating a reading of 70, which falls under “Greed.” The asset is trading 79.37% above its 200-day simple moving average (SMA), which currently stands at $0.477891.
Additionally, Axelar has had 16 green trading days over the past 30 days, reflecting positive momentum in 53% of that time. With high liquidity relative to its market cap and the possibility of an upcoming altcoin season, AXL could be positioning itself for further growth.
3. Toncoin (TON)
Toncoin (TON) is a decentralized, open-source layer-1 blockchain. It uses a proof-of-stake consensus model, which helps improve scalability and reliability. The network’s primary aim is to provide fast and secure payment services with low fees. It also plans to expand into decentralized storage, services, domain name services (DNS), anonymous networking, and efficient payment processing.
Currently, Toncoin is priced at $5.24, with a weekly gain of 1.50%. It is trading above its 200-day simple moving average, indicating long-term growth. Over the last 30 days, it has had 15 green days (50%), reflecting a relatively stable market performance. Its high liquidity suggests ease in trading without large price swings.
TON will integrate with @axelar's Mobius Development Stack (MDS), bringing their open interoperability platform to our ecosystem! 🌐
MDS will allow projects to connect seamlessly to 68+ blockchains, enhancing scalability and adoption.
This integration has the potential to link… pic.twitter.com/uz9sXMSI0E
— TON 💎 (@ton_blockchain) October 18, 2024
Recently, Toncoin integrated with Axelar’s Mobius Development Stack (MDS), an interoperability platform connecting 68+ blockchains. This integration aims to enhance scalability and increase adoption across different networks. There is potential for Toncoin to connect with Telegram’s 950 million users, making it easier for developers, users, and liquidity to move across multiple blockchains.
Toncoin’s focus on decentralized services, combined with the integration with Axelar, positions it for broader use cases. Still, its future success will depend on how effectively it meets user and market demands.
4. Uniswap (UNI)
Uniswap was recently listed on the cryptocurrency exchange Upbit. Following this announcement, UNI saw a price increase, trading at $8.17, which marked a nearly 7% rise in the last 24 hours. As of now, the price is $8.13, with a trading volume of about $963.76 million.
Its market cap stands at $4.86 billion, giving it a market dominance of 0.21%. In the last 24 hours, the price rose by 6.79%. Market sentiment around Uniswap is currently bullish, and the Fear & Greed Index shows a score of 70, indicating that investors are leaning toward greed.
Over the past year, UNI’s price has increased by 91%. It has outperformed 51% of the top 100 crypto assets during this period. The coin is trading above its 200-day simple moving average, which is seen as a positive sign by many traders. In the last 30 days, UNI had 15 green days, meaning it experienced upward price movement about half the time. The coin also benefits from high liquidity, making it easier to trade without causing major price fluctuations.
After Upbit’s listing announcement, UNI’s price rose from $7.90 to $8.33, a more than 5% increase, before slightly dropping back to current levels. Additionally, Uniswap Labs recently announced that the protocol surpassed $2 trillion in all-time trading volume on Ethereum Layer 1, a significant achievement confirmed by data from Dune Analytics.
5. Memebet (MEMEBET)
Memebet (MEMEBET) operates on the Ethereum network and aims to tap into the growing interest in meme coins and GameFi. It allows users to bet on games, slots, and sports events directly through Telegram without needing traditional accounts or identity verification. This approach prioritizes privacy and ease of use, making it accessible to a broader audience.
Moreover, the platform features a play-to-earn airdrop system that rewards users based on their participation in the platform’s games. The project has reserved 20% of its total token supply for these airdrops, with 400 million MEMEBET tokens set aside for future rewards. While users who place higher bets will earn more, casual players also have the chance to receive rewards over time.
Furthermore, MEMEBET has raised over $500,000 in its ongoing presale, with early investors buying tokens at $0.026 each. The platform has scheduled price increases, encouraging early involvement for those looking to secure tokens at a lower price.
However, as with all projects in the highly speculative meme coin and GameFi sectors, its future success will depend on user interest and continued growth in these markets. While early investment may offer potential advantages, it’s important to consider the risks involved in this space.
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