Best Cryptocurrencies to Invest in Right Now June 9 – Filecoin, Stacks, KuCoin Token

This article provides investors with valuable insights into promising tokens, helping them make informed decisions. By highlighting these assets, InsideBitcoins aims to guide investors toward high-potential investment opportunities in the cryptocurrency market.

Investors look for tokens with high investment potential in the cryptocurrency market. Insidebitcoins compiles a daily list of top-performing tokens with promising prospects. This article highlights the best cryptocurrencies for investment, offering valuable insights into digital assets, trends, and key factors to consider when developing your investment strategy.

Best Cryptocurrencies to Invest in Right Now

Filecoin recently introduced FilOz, a new team focused on designing and developing public goods within its ecosystem. Meanwhile, KuCoin Token’s price has slightly increased, currently at $10.32, reflecting a 1.16% rise over the past 24 hours. Additionally, Base Dawgz has raised over $600,000 in its Initial Coin Offering (ICO). Furthermore, Chainlink’s recent significant development includes partnering with Circle, the fintech company behind stablecoins EURC and USDC.

1. Filecoin (FIL)

Filecoin recently introduced FilOz, a new public goods design and development team within its ecosystem. FilOz focuses on securing, upgrading, and expanding the Filecoin protocol and network. This team collaborates with other Filecoin-aligned groups to achieve these goals. 

Currently, Filecoin is priced at $6.22, reflecting a 1.68% increase in the last 24 hours. Over the past week, the price has surged by 6.90%. The 14-day Relative Strength Index (RSI) is 66.12, indicating a neutral stance and suggesting the cryptocurrency may trade sideways. 

While the overall price prediction sentiment remains bearish, it’s interesting to note that the Fear & Greed Index is at a reading of 75, indicating greed in the market. This suggests that, despite short-term pressures causing the token to lose some gains, it has been trading within a bullish range, which could be a potential indicator for future price movements.

🐱 Introducing @_FilOz, a new team in the @Filecoin ecosystem! 🌐

Dedicated to securing, upgrading, and expanding Filecoin with protocol improvements, network upgrades, and OSS development. Learn more about their mission, roadmap, and team: https://t.co/dMArsq4eqm

— Filecoin (@Filecoin) June 6, 2024

Additionally, the smold app now supports Filecoin, offering batch payments that allow users to send, disperse, and swap FIL efficiently. This feature benefits ecosystem projects that must make FIL wallet-to-wallet payments from one address to multiple recipients simultaneously.

2. Stacks (STX)

Stacks operates as a layer on top of Bitcoin, facilitating smart contracts and enabling decentralized applications (dApps) to utilize Bitcoin for transactions. Currently priced at $2.42, the token has seen a 6% increase in the last 24 hours. 

Furthermore, DefiLlama’s data reveals that the Total Value Locked (TVL) in the Stacks ecosystem has recently hit a record high of $132 million. This significant milestone has triggered a substantial increase, potentially propelling the token’s price even higher.

Over the past week, STX has demonstrated a remarkable surge of 21.60%, and over the past month, it has shown a steady increase of 11.66%, indicating a bullish trend. The current sentiment around STX price prediction is bullish, with the Fear & Greed Index at 75 (Greed). 

The Stacks ecosystem is thriving 🧡

▪ Big progress for Nakamoto Release
▪ All Time High STX TVL in DeFi
▪ Velar announces farming rewards
▪ Zest shares DIKO integration
▪ Grayscale shares $STX report

Read the full weekly newsletter below in the thread. pic.twitter.com/V2g4Zdc4ng

— stacks.btc (@Stacks) June 7, 2024

Moreover, the token trades significantly above its 200-day Simple Moving Average (SMA), currently trading at 132.56% above it. Also, Grayscale’s recent launch of a trust for Stacks Coin, STX, underscores its growing potential. 

In addition, STX is currently trading around $2, with forecasts suggesting it could climb to $2.5 by the end of this altcoin season. These positive trends and the bullish outlook make STX a promising cryptocurrency to consider investing in.

3. KuCoin Token (KCS)

KuCoin Token’s price has slightly increased, currently at $10.32, with a 1.16% increase over the past 24 hours. Last week, it has surged by 1.78%. Despite this, sentiment towards its price prediction is bearish, while the Fear & Greed Index indicates a level of 75, suggesting greed among investors.

Comparing its current price to its performance last year, KCS has shown a significant increase of 65%, outperforming its initial token sale price. The 14-day Relative Strength Index (RSI) is at 55.68, signaling a neutral stance, implying that KCS may continue to trade sideways.

Furthermore, the token trades above its 200-day Simple Moving Average (SMA). This indicates a positive trend, as it remains above this long-term moving average. Additionally, with a recent increase of 1.78% over the past seven days, KCS has shown better performance than the overall global market, which has seen a rise of 0.40%.

KuCoin has completed the Polyhedra Network's trading ticker to $ZKJ token.

For further information on this update, please refer to the article. 🔗https://t.co/YNVdrnESrz https://t.co/SzfULTbdYC

— KuCoin (@kucoincom) June 7, 2024

In addition, KuCoin Token has shown favorable short-term and long-term performance metrics, although market sentiment is currently bearish. The token’s neutral RSI suggests a potential for uptrend movement soon.

4. Base Dawgz (DAWGZ)

Base Dawgz recently raised over $600,000 in its Initial Coin Offering (ICO). It aims to create a decentralized platform enabling smooth interactions and transactions across multiple blockchains. 

This project leverages the growing Base chain ecosystem, a relatively new blockchain that boasts a meme coin market capitalization of over $2 billion. Furthermore, Base Dawgz offers features beyond its playful theme. 

It includes a share-to-earn utility and future staking rewards, providing additional incentives for its community. Utilizing advanced blockchain technology, the project ensures seamless interoperability across various chains.

Post the presale, DAWGZ token holders can stake their tokens to earn more over time, with returns varying based on the staking process. This staking feature is designed to reward long-term holders, significantly enhancing the token’s value proposition. 

Moreover, the share-to-earn utility will further engage the community by offering rewards for sharing content, making it a potentially profitable venture. According to Base Dawgz’s website, the presale price of DAWGZ will increase by 5% every four days, encouraging early investment. 

By facilitating interoperability and offering staking rewards, Base Dawgz aims to improve the user experience in decentralized finance. This structure is designed to make transactions across different blockchains more accessible, benefiting users looking for a versatile and rewarding asset.

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5. Chainlink (LINK)

Chainlink is known for its decentralized Oracle network, a technology that facilitates the integration of real-world data into blockchain applications. This allows smart contracts to interact with information outside the blockchain, expanding their functionality. Thanks to this unique feature, LINK has shown a strong profitability metric, with an 86.8% supply in profit.

Over the past year, LINK’s price has doubled due to increasing interest in tokenizing real-world assets. In terms of development activity, Chainlink has consistently led among real-world assets for the past two months, April and May.

A recent significant development for Chainlink is its partnership with Circle, the fintech company behind stablecoins like EURC and USDC. This partnership aims to enhance the DeFi ecosystem by leveraging stablecoins for enterprise institutions and improving security. Developers can utilize Chainlink’s services on Circle’s platform to build financial applications with features like Proof of Reserve and Data Feeds.

Tokenized RWA platform @WESET_io has integrated #Chainlink CCIP across @BNBCHAIN and @ethereum to enable cross-chain transfers of its native token.

How CCIP unlocks cross-chain WECO transfers ↓

— Chainlink (@chainlink) June 6, 2024

Currently, Chainlink’s price is $16.02, reflecting a 1.24% increase in the last 24 hours. Sentiment analysis suggests a bullish outlook for its price, and the Fear & Greed Index indicates a level of 75 (Greed). Furthermore, Chainlink’s price is trading above the 200-day simple moving average, indicating positive performance compared to its token sale price.

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