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Ethereum-based investment products have reached a new milestone in 2024, recording $2.2 billion in net inflows, according to data from CoinShares. This surpasses the previous high of $2 billion set in 2021, signaling a change in investor interest. XRP also made significant gains. Funds linked to XRP saw $95 million in inflows over a single week, the highest ever recorded for the asset. This coincided with a 69% surge in its price, highlighting growing attention toward altcoins.
The broader cryptocurrency market has expanded significantly, with total value rising about 72% since the U.S. elections to $3.43 trillion. The growth has been driven by rising interest in U.S.-based exchange-traded funds (ETFs) and increasing demand for altcoins like Ethereum and XRP. This article analyzes the best cryptocurrencies to invest in right now.
Best Cryptocurrencies to Invest in Right Now
Aave has achieved a significant milestone, with net deposits reaching $31.4 billion. Meanwhile, Solana has been integrated into the Crypto Life platform, allowing payments to over 90 million merchants globally. In another development, the token presale for BEST has crossed $2 million in funding.
1. Aave (AAVE)
Aave, a decentralized finance (DeFi) platform, has reached a significant milestone with net deposits totaling $31.4 billion. This figure marks a substantial increase of 50% within a month, up from $20.9 billion at the start of November. The rise highlights the growing interest in Aave’s lending and borrowing services.
Over the past 30 days, Aave has gained $10.4 billion in new deposits. The platform’s native token, AAVE, is currently priced at $237.00, reflecting a 5.99% increase in the last 24 hours. It is trading well above its 200-day simple moving average (SMA) of $137.90, with a 71.13% margin over this benchmark. This indicates a strong upward trend in its value.
Meanwhile, market sentiment for AAVE remains bullish, supported by the Fear & Greed Index at 76, which points to extreme market confidence. The token has shown positive movement on 16 out of the last 30 days, indicating consistent performance. Its trading volume in relation to market capitalization stands at 0.4084, suggesting active trading activity.
Aave’s current position reflects its growing influence in the DeFi sector. Its increasing deposits, high liquidity, and proactive governance signal steady progress, and its services continue to attract users’ interest.
2. Maker (MKR)
Maker is gaining traction in the market, surging sharply, reaching $2,229, marking a 24.71% increase over the past 24 hours. The token’s trading volume over the same period was $397 million, while its market cap stood at $1.96 billion, representing a 0.06% share of the overall cryptocurrency market. It trades above its 200-day simple moving average (SMA) of $1,822.44, with a 22.28% premium.
Market sentiment towards MKR appears optimistic. The Fear & Greed Index, a gauge of investor sentiment, shows a score of 76, indicating extreme greed. MKR has also seen significant liquidity, with a 24-hour trading volume-to-market-cap ratio of 0.3803 and 15 positive trading days in the last month.
Furthermore, the token’s yearly inflation rate is -3.60%, which indicates a decreasing supply. Technical indicators suggest a neutral stance, with the 14-day Relative Strength Index (RSI) at 67.39, signaling a potential for sideways movement in the short term.
Projections for MKR suggest it could trade between $2,152.58 and $3,449.00 by the end of the year. If the average December price reaches $3,005.95, this would represent a 35.60% increase from current levels, offering investors a potential return of 55.58% if predictions hold.
3. Decentraland (MANA)
Decentraland continues to draw attention for its unique approach to digital real estate and experiences. Users can purchase virtual land, build interactive spaces, and engage in economic activity using its native token, MANA. The platform operates as a decentralized ecosystem, enabling participants to shape its development and governance through token-based voting.
MANA is the primary means for transactions, including land purchases and marketplace activities. Recently, the token’s price significantly increased, rising 16.9% within 24 hours to $0.708. Decentraland’s market capitalization currently stands at $1.38 billion, with a daily trading volume of $935.23 million.
Its market dominance is measured at 0.04%, reflecting its niche role in the broader cryptocurrency market. Furthermore, the metaverse’s growing popularity has driven adoption, with businesses and brands hosting virtual events and creating branded experiences in Decentraland. This trend has bolstered its position as a prominent player in Web3 technology.
Analysts note positive indicators, including MANA trading above its 200-day simple moving average and demonstrating strong market liquidity. Over the past month, the token recorded gains on 21 out of 30 days, signaling consistent performance.
Investor sentiment around Decentraland remains optimistic, supported by an “Extreme Greed” reading of 76 on the Fear & Greed Index. These metrics suggest a favorable environment for both participation and speculation.
4. Best Wallet Token (BEST)
The token presale for Best Wallet’s cryptocurrency, BEST, has surpassed $2 million in funding. Initially, the campaign was limited to Best Wallet users through its “Upcoming Tokens” feature, which showcases and evaluates new blockchain projects.
The presale is now open to the public, allowing non-users to participate in the token sale. Best Wallet is designed to work with major blockchain networks, including Ethereum and Binance Smart Chain (BNB), making it accessible for new and experienced cryptocurrency users.
Moreover, the BEST token offers several practical benefits. Holders can enjoy reduced transaction fees, early access to new presales, better staking rewards, and voting rights to influence future updates for the wallet.
Stage 16 of the $BEST Presale is Ending Soon! 🚨
The clock is ticking, and the current presale price won’t last much longer. Early buyers are already stacking their bags—will you be next? 👀
This is your chance to buy $BEST before the next price jump.
Download now 📲… pic.twitter.com/Z2mdRJvnzw
— Best Wallet (@BestWalletHQ) December 2, 2024
Currently, the price of BEST is $0.02290 per token, with a scheduled increase after the next presale phase, which ends in 22 hours. Best Wallet also features a decentralized exchange (DEX) aggregator that scans over 50 blockchain networks and 200 decentralized exchanges to help users find optimal token swap rates, aiming to save time and reduce costs.
Visit Best Wallet Token Presale
5. Solana (SOL)
Solana has been integrated into the Crypto Life platform, enabling its use for payments at 90 million merchants worldwide. The Solana platform announced this development on its X account. The integration emphasizes Solana’s fast transaction processing, low operational costs, and expanding decentralized finance ecosystem as key reasons for the move.
In addition, the platform has integrated with Uquid to introduce Solana-native USDT transactions, allowing users to purchase various products. This development aligns with Solana’s growing adoption and infrastructure enhancements.
Welcome CL Card — the card that lets you use Solana to pay IRL at 90m+ merchants around the globe 🌍
Integrated with Ledger Live and works with Apple Pay. https://t.co/6gCWvDrKrh pic.twitter.com/QCPdV0jHB0
— Solana (@solana) December 2, 2024
Solana’s market performance shows a bullish trend. It is currently trading at $224.15, a decrease of 1.26% over the past 24 hours, but it has gained 37.67% in the last 30 days. The token is 35.12% above its 200-day simple moving average, which is $166.07, indicating a strong upward momentum. Analysts also highlight its high liquidity relative to its market capitalization.
The Fear & Greed Index further supports the blockchain’s sentiment, which currently shows “Extreme Greed” at 76, reflecting strong positive sentiment among investors.
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