Best Cryptocurrencies to Invest in Right Now May 1 – NEAR Protocol, Helium, Polkadot 

InsideBitcoins offers a daily list of promising tokens for potential investment. These selections are poised to be valuable additions to your watchlist as they show promise for the future.

Bitcoin slipped below the $60,000 support mark, marking its lowest since February and the least-performing month since the crypto exchange FTX collapsed in 2022. In tandem, altcoin experienced price slips, mirroring the overall downtrend witnessed by the cryptocurrency market. Experts attribute this downturn to several factors, including Binance CEO CZ’s recent 4-month money laundering sentencing and the U.S.’s current economic outlook.

Hence, investors believe the Federal Open Committee’s announcement on the latest rate, set to be announced today, could positively impact the market’s outlook. In light of this, market participants are exploring the best cryptocurrencies to capitalize on the projected outlook.

Best Cryptocurrencies to Invest in Right Now

TRO recently announced an integration with QuickNode, a strategic move to empower developers to build scalable and secure dApps on the TRON network. Meanwhile, HNT has experienced remarkable growth over the past year, with its price currently trading around $5.12, marking a substantial 216% increase. 

Similarly, NEAR Protocol has forged a new partnership with NodeKit to extend NEAR Data Availability (DA) to rollups operating within the composability layer. 

1. TRON (TRX)

TRO recently announced its integration with QuickNode, a move aimed at empowering developers to build scalable and secure dApps on the TRON network. This expansion is part of QuickNode’s effort to provide robust tools and reliability to developers within the web3 ecosystem. 

Additionally, TRON operates as a Layer-1 blockchain, supporting smart contracts and enabling the creation of extensive dApp ecosystems. It offers high throughput and scalability, making it attractive for multi-chain projects. Furthermore, the platform’s total number of accounts has surpassed 227M, hitting a milestone of 227,309,170 accounts. 

Moreover, TRX has seen a year-to-date increase of 71.63% and an upward movement from $0.11 to $0.12 over the past week. This positive performance reflects the growing confidence in TRX’s value and utility. With its price trading above the 200-day simple moving average, TRX is showing promising signs for the future. 

🎉🎉🎉Congratulations!!! #TRON’s total accounts have reached 227,309,170, exceeding 227 million! #TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.

🥰Appreciation to all #TRONICS! pic.twitter.com/0Oi5fQvKRr

— TRONSCAN (@TRONSCAN_ORG) May 1, 2024

In the last 30 days, TRON has experienced 17 days of positive growth, indicating investor confidence and market interest. With a high level of liquidity based on its market cap, TRON continues to attract attention within the crypto space. In addition, based on its current trends and market dynamics, analysts predict TRX’s potential to reach $0.2725 by the fourth quarter of 2024.

2. Helium (HNT)

Helium is a blockchain network designed to support Internet of Things (IoT) devices. Over the past year, its token price has risen significantly, currently trading at approximately $5.12, reflecting a 216% increase. The network’s success is partly attributed to its high liquidity, indicated by a volume-to-market-cap ratio of 0.0436. 

HNT’s market cap is $835.78 million, with a 24-hour trading volume of $36.47 million. Moreover, its price is 130.59% above its 200-day Simple Moving Average (SMA), indicating strong upward momentum. Furthermore, HNT has traded between $3.40 and $6.00 in the past week, demonstrating resilience in a market downturn. 

Helium MOBILE Network continues to scale. @helium_mobile, @rawrmaan. https://t.co/gnAQLhQmhU

— Helium🎈 (@helium) April 30, 2024

In addition, the Helium ecosystem boasts over 180,000 active wallets, which engage in Helium-related activities and interact with other decentralized applications (dApps) on the Solana blockchain. This activity underscores Helium’s growing adoption and utility beyond its core functionality.

Helium’s impressive performance reflects a rising interest in IoT-focused blockchain solutions. Its network growth and liquidity metrics position it as a notable player in the crypto space, showcasing tangible use cases for blockchain technology in real-world applications.

3. WienerAI (WAI)

WienerAI has recently achieved significant milestones, with its presale raising over $700,000. This achievement has sparked speculation about the potential growth of its token, WAI, even amidst a generally bearish market sentiment.

Since its launch in mid-April, WAI has garnered increasing interest, with its demand steadily increasing. The project’s tokenomics are designed to incentivize early investors and ensure sustainability. One of the primary attractions for investors is the staking rewards offered by WienerAI.

During the presale, WienerAI provides a high Annual Percentage Yield (APY) of over 1250% to investors who stake their WAI tokens. This has led to substantial staking activity, with over 828 million WAI tokens staked, further highlighting investor confidence in the project’s future. 

Tail-Wagging Success

Wiener AI Raises Over $500,000 in Funding! 🌭🚀 pic.twitter.com/7aB1wXg5PZ

— WienerAI (@WienerDogAI) April 29, 2024

Furthermore, transparency and security have also played an important role in WienerAI‘s success. WAI’s presale has captured attention due to its unique tokenomics, high staking rewards, and emphasis on transparency and security. 

Visit WienerAI Presale

4. Polkadot (DOT)

Polkadot has recently experienced price stability that aligns with the broader cryptocurrency market. Currently priced at $6.55, Polkadot has shown a modest 5.03% increase in the last 24 hours. 

It has a 24-hour trading volume of $829.35 million and a market capitalization of $6.47 billion. Despite its recent performance, Polkadot’s long-term trajectory demonstrates a 14% price increase over the past year, showcasing positive growth compared to its initial token sale price. 

However, sentiment analysis suggests a bearish outlook in the short term, with the Fear & Greed Index standing at a neutral 54. Nonetheless, its 14-day Relative Strength Index (RSI) is 65.51, signaling a neutral stance and potential upward movement soon. 

Furthermore, DOT’s underlying technology emphasizes interoperability, aiming to connect different blockchains to enable seamless data sharing and collaboration. Its high liquidity, reflected by its market capitalization, underscores market confidence in the project’s potential.

5. NEAR Protocol (NEAR)

NEAR Protocol is currently priced at $6.11, showing a 24-hour trading volume of $5.69 million, reflecting a recent surge of 26.61%. Despite this, the price has slightly increased by 0.66% over the past hour. In broader terms, NEAR has grown substantially over the past six months, increasing by 305.24%. However, it also experienced a dip of 9.83% over the last month. 

The current market conditions suggest that NEAR is undergoing a correction phase, trading below the 10-day and 100-day simple moving averages. Despite this correction, the coin remains significantly above its 200-day simple moving average (SMA), currently trading 282.47% above this average of $1.599450.

NEAR Protocol is notable for its high liquidity, driven by its market capitalization. The platform recently announced a partnership with NodeKit to offer NEAR Data Availability (DA) to rollups building on the composability layer. This partnership intends to facilitate synchronous communication across blockchains for rollups that adopt NEAR DA.

NEAR DA heads to @nodekitorg, offering rollup developers the opportunity to unlock data availability that is incredibly fast, cost-efficient, and powered by NEAR.

See for yourself:https://t.co/q0XGWX2616 https://t.co/xRPAYVqPfm

— NEAR Protocol (@NEARProtocol) April 26, 2024

In summary, NEAR Protocol’s recent performance suggests a mixed picture in the short term but underscores its strong upward trajectory over the longer term. The partnership with NodeKit is part of NEAR’s broader strategy to enhance the capabilities of blockchain technology, particularly in terms of interoperability and composability across different protocols.

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