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Russia outlines plans to legalize crypto mining starting November 1, 2024. Additionally, the country will launch an experimental regime allowing authorized companies to conduct cross-border settlements and trade in digital currencies. This move comes as blockchain technology and cryptocurrencies gain more acceptance globally. Increased government support for these technologies has increased altcoin values, driving investors’ interest in top cryptocurrencies to invest in right now.
Today’s article examines the performance of cryptocurrencies that investors might consider adding to their portfolios. It reviews tokens showing profitability potential.
Best Cryptocurrencies to Invest in Right Now
This article examines the performance of digital assets with potential and informs investors about recent trends, price changes, and trading volumes to provide a comprehensive overview of these assets. Recently, XRP has been attracting analysts’ attention due to signs of potential price surges.
Meanwhile, the PlayDoge presale has garnered significant attention, raising over $5 million. Early investors can purchase PLAY tokens at $0.00524 each. In another development, Stellar introduced a passkey feature to enhance user security and accessibility.
1. XRP (XRP)
Recently, XRP has been displaying signs of a market catching the attention of analysts, who are predicting possible price surges. Investors have shown an uptick in interest in the token. According to data from Santiment, there has been an increase in the number of wallet addresses holding between 100 million and 1 billion XRP since July 23.
This rise indicates a growing sense of confidence among investors and reflects positive sentiment in the market. At the time of writing, XRP is trading at $0.6464 and is positioned as the sixth-largest cryptocurrency based on market capitalization. It saw a surge of 8.02% during the day.
In the past month, there have been 21 days with positive price movements for XRP, indicating consistently strong performance. The high liquidity associated with XRP due to its market cap further reinforces this trend.
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— Ripple (@Ripple) July 25, 2024
Moreover, Ripple has been consistently unlocking up to 1 billion XRP tokens every month on the first day since 2017. This trend continued in August, with Ripple releasing 1 billion XRP tokens valued at around $600 million at prices.
The recent fluctuations in XRP price and increased interest from investors suggest an upward trend for the token. Ripple’s ongoing strategy of releasing and re-tokens indicates token supply management influences current market sentiment and prospects for XRP.
2. Stellar (XLM)
Stellar is a peer-to-peer decentralized network aiming to connect global financial systems. It offers a protocol for payment providers and financial institutions, enabling swift and reliable movement of financial resources at minimal cost.
Furthermore, the platform facilitates transactions between individuals, banks, and payment processors, allowing users to create, send, and trade various types of cryptocurrencies. Recently, Stellar introduced a passkey feature to enhance user security and accessibility.
This feature offers a user-friendly experience similar to traditional Web2 applications. It further eases the transition to Web3, significantly improving the network’s safety and user experience.
New on Stellar: Passkeys🔑 Web3 security meets user-friendly design. Safer, easier access to the decentralized future. #BetterOnStellar pic.twitter.com/6xhsOlrTbY
— Stellar (@StellarOrg) July 23, 2024
At the time of writing, XLM exchanges hands at $0.1049, showing a 4.77% increase. The token has seen increased trading activity and price appreciation in the past month. Moreover, the token has recorded 18 profit days in the past 30 days.
Meanwhile, the 14-day Relative Strength Index is at 54.64, suggesting that the token is currently neutral and may experience a potential sideways movement. In addition, Stellar’s solutions aim to bridge the gap between traditional and decentralized finance, offering a promising platform for fast and reliable transactions.
3. BNB (BNB)
Binance recently announced plans to include decentralized BNB assets held in Web3 Multi-Party Computation (MPC) wallets in its Launchpool reward system. This change will be implemented at the next Launchpool event to highlight Binance’s commitment to DeFi principles.
This move allows users to maximize their earning opportunities on the platform, bridging the gap between centralized and decentralized finance. With this integration, users with decentralized BNB assets in Web3 MPC wallets will see these assets counted toward their total BNB holdings for Launchpool rewards.
Meanwhile, the BNB token is ranked the 4th largest cryptocurrency by market cap, which is valued at $84 billion at press time. Recently, the token’s price experienced an upward movement from the $565 support zone. The price rose above the $572 and $580 resistance levels, currently trading above $582. The price is consolidating, and analysts suggest it may soon target further gains above $590.
In addition, market sentiment around BNB is currently bullish, with the Fear & Greed Index reading 61 (Greed). The 14-day Relative Strength Index is 43.33, indicating a neutral stance and might trade sideways. Despite market volatility, BNB shows resilience, suggesting an uptrend in a stable market.
4. PlayDoge (PLAY)
The PlayDoge presale has attracted significant attention, raising over $5 million. Early investors can buy PLAY tokens at $0.00524 each, with the price set to increase as the presale continues. This aims to build a strong community by offering benefits to early adopters, such as access to staking rewards and leaderboard bonuses.
Furthermore, PlayDoge is a mobile P2E game featuring the popular Doge meme as a Tamagotchi-style virtual pet. Players can adopt, feed, entertain, and train their virtual Doge pets to keep them happy and healthy. In addition to the fun of caring for their pets, players earn PLAY tokens through various in-game activities.
The game includes classic 8-bit side-scrolling adventures, quests, and puzzles, offering more ways to earn tokens and enhance the gaming experience. The mix of Tamagotchi-style gameplay with modern crypto elements has attracted investor interest.
Stack $PLAY and live life on easy mode 🌊 💰
Join the #Presale 👇 https://t.co/JT0VEofqf2 pic.twitter.com/QVL6JOvjvd
— PlayDoge (@PlayDogeGame) July 29, 2024
Many market experts believe PlayDoge could achieve success due to the high demand for PLAY tokens during the presale. This suggests potential appreciation once the tokens are listed on exchanges. PlayDoge’s unique features and strong community support make it the best crypto to buy now.
5. Polymath (POLY)
Polymath is a decentralized platform designed to facilitate the issuance and trading of blockchain-based securities. It simplifies complex legal processes, enabling a smoother integration of traditional financial securities with blockchain technology. The platform utilizes its token, POLY, to power its ecosystem.
Recognizing the limitations of existing blockchains in meeting regulatory requirements for capital markets, Polymath developed Polymesh. Polymesh is an institutional-grade blockchain specifically built for handling regulated assets. This new infrastructure addresses key challenges in public blockchains, such as identity verification, compliance, confidentiality, governance, and settlement.
Furthermore, the platform’s innovations streamline outdated financial processes and pave the way for new financial instruments. Its approach links financial securities with blockchain technology in a manner that complies with regulations. This innovation has earned it recognition in the global market.
Partnerships with industry leaders have been important for Polymath. These collaborations have enhanced its ecosystem and increased its adoption. At the time of writing, the price of Polymath increased by 10.86%, now trading at $0.07445.
The trading volume also surged by 43.95% in the past day, reaching $30,135.08. This rise in trading volume indicates growing interest and use by market participants. Meanwhile, POLY focuses on regulated assets and continuously innovates to support its platform. These factors suggest potential for future growth and stability, making it one of the best cryptocurrencies to buy.
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