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Discover the best cryptocurrencies to invest in right now with our expert analysis. Explore leading choices based on market trends, growth potential, and future outlook.
Following the recent market lull, T-Rex’s launch of 2X long and short Bitcoin ETFs against ProShares is set to inject much-needed inflows into the cryptocurrency market. Moreover, Cardano’s impending CIP-1694 upgrade has further bolstered market optimism.
With the increased positive sentiments, market participants are exploring the best cryptocurrencies to invest in right now. Tokens such as Render, Injective, and Tezos present such opportunities as their current market outlook makes them worthy of portfolio consideration.
Best Cryptocurrencies to Invest in Right Now
Tezos recently partnered with Baanx, a digital asset card facilitator and Mastercard partner, to develop a crypto debit card for the Tezos platform. Meanwhile, the rise in HONEY’s value is attributed to Hivemapper’s network expansion, which has mapped over 13.8 million unique kilometers. Additionally, Injective has integrated with IoTeX, allowing the seamless transfer of IoTeX assets to Injective.
1. Hivemapper (HONEY)
Hivemapper’s HONEY token has demonstrated remarkable resilience and attracted substantial investor interest recently. Over the past 24 hours, the token’s price has increased by 16.73%, reaching $0.07159. Concurrently, its trading volume has surged by over 325%, currently around $2 million.
Moreover, Hivemapper operates within the Decentralized Public Infrastructure (DePIN) sector, competing with major players like Google Maps, which has over a billion monthly active users. The platform collects mapping data from contributors who use Hivemapper dashcams in their vehicles.
As these users drive and map roads, they earn HONEY tokens. The quantity of tokens they receive depends on the demand for mapping particular roads.
The recent increase in HONEY’s value stems from the expansion of Hivemapper’s network, which has now mapped over 13.8 million unique kilometers. For HONEY to sustain its growth, it needs to close above the resistance level of $0.0832 and consistently remain above the support level of $0.0722.
2. WienerAI (WAI)
WienerAI features innovative AI technologies that improve trading capabilities and community engagement. Substantial investor support and a clear roadmap for future development enhance the project.
The project has recently captured attention in the cryptocurrency sector by securing $7.2 million in funding, attracting significant investor interest. Currently, the WAI token is valued at $0.00073 each, with about 20 days remaining before the end of the presale.
Its primary draw is its AI-driven trading tool, designed to optimize trading accuracy and efficiency. This tool merges humor with advanced technology, creating an engaging and interactive user trading experience.
The AI trading tool provides detailed market analyses and trading suggestions. Investors can consult AI for insights into investment strategies. The platform ensures trades execute at favorable prices across decentralized exchanges (DEXs), protecting users from predatory trading bots.
Grab the golden bone before it’s too late!
Join WienerAI now and secure your spot in the trading revolution 🌟🌭 pic.twitter.com/aLh8M4VxHj
— WienerAI (@WienerDogAI) July 9, 2024
Beyond trading, the project focuses on developing AI solutions for data analysis, process automation, and support systems. Additionally, WAI offers a staking mechanism that allows WAI token holders to earn rewards.
3. Render (RNDR)
Render Network enables users to use unused GPU power to render motion graphics and visual effects. This method optimizes resource use and supports the growing demand for high-quality visual content across various industries.
Recently, Binance announced its support for the token swap and rebranding of Render (RNDR) to Render (RENDER). This change aims to streamline the platform and enhance the user experience. The swap will convert RNDR tokens to RENDER tokens at a 1:1 ratio.
Furthermore, Binance will manage all technical aspects to ensure a smooth transition for users. After the swap, RNDR deposits and withdrawals will no longer be supported, and a new notification will be issued upon completion.
UPDATE: Binance now supports the Render SPL token (RENDER)!
Stay alert for scams with increased activity. Ensure your 2FA and security settings are up to date. Follow only our official channels for updates.
More info: https://t.co/2MKWywhOHR
— The Render Network (@rendernetwork) July 10, 2024
In terms of market performance, RNDR traded at $6.65 at press time, marking a 5.15% increase in the last 24 hours. The token has high liquidity based on its market cap. The 14-day Relative Strength Index (RSI) is 42.66, indicating that the cryptocurrency is currently neutral and may trade sideways.
The token’s price action formed a double top over the past four months, with potential support around $4. This may present a buying opportunity for investors. Despite recent interest from traders, RNDR has declined by about 28% in the past month and 7.87% in the past week, highlighting market volatility.
4. Injective (INJ)
Injective recently integrated with IoTeX, enabling the seamless transfer of IoTeX assets to Injective. In a recent announcement on the X platform, Injective highlighted the convenience this integration brings to token transfers, providing substantial user benefits.
This development allows seamless token transfers, enhancing user experience. Furthermore, the Injective platform operates as a Layer 1 blockchain, facilitating the creation of robust decentralized finance (DeFi) applications.
It offers a plug-and-play infrastructure, allowing developers to quickly and efficiently build and launch Web3 finance apps. The ecosystem is powered by its native token, which plays a role in protocol governance and capturing the value of decentralized applications.
Currently, Injective’s token trades above the 200-day simple moving average, reflecting positive performance relative to its token sale price. The token enjoys high liquidity due to its market capitalization.
.@iotex_io is now integrated with Injective, enabling the seamless transfer of IoTeX assets to Injective.
This in turn allows for novel DePin applications, use cases and assets to enter the Injective ecosystem via a diverse array of dApps built on Injective. pic.twitter.com/pvypoVW2eZ
— Injective 🥷 (@injective) July 2, 2024
INJ trades at $21.06 at press time, marking an intraday increase of 2.05%. It has recorded a year-to-date gain of 164.25%, highlighting its long-term potential.
Injective’s innovative cross-chain derivatives protocol in the DeFi space could further enhance its value. The platform’s low fees and high-speed transactions make it a compelling option in the current market, making it one of the best cryptocurrencies to invest in right now.
5. Tezos (XTZ)
Tezos is a blockchain and open-source platform designed for assets and applications, emphasizing code security, on-chain governance, and decentralization. The platform was among the first to adopt the liquid proof-of-stake (LPoS) consensus mechanism.
XTZ has recently shown modest gains, positioning it among the best cryptocurrencies to invest in right now. It has experienced 16 positive trading days in the last month and maintains high liquidity relative to its market cap.
The 14-day Relative Strength Index (RSI) is 49.18, suggesting that the token is neutral and might continue to trade sideways. At press time, the token is priced at $0.7476, reflecting an intraday increase of 0.94%.
A recent partnership between Tezos and Baanx, a digital asset card facilitator and Mastercard partner, aims to create a crypto debit card for the Tezos platform. This partnership coincides with the token’s recent surge.
Transactions with the Tezos-branded, non-custodial crypto card will occur on Etherlink, an Ethereum-compatible layer-2 blockchain utilizing Tezos Smart Rollups technology. This allows for fast, low-cost payments. The Tezos Foundation-backed debit card will be accepted by over 110 million global merchants compatible with Mastercard.
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