Best Cryptocurrencies to Invest in Right Now May 8 – Tezos, THORChain, Cosmos

This article covers several cryptocurrency contenders worth considering in your watchlist. These coins have shown promise and could be valuable additions to your investment radar.

Crypto venture capital has crossed the $1 billion threshold for the second month running. This development signals the growing acceptance of digitals as investors turn en masse to decentralized financial solutions. While the crypto market has taken a dip, the returns witnessed by the venture capitals signal growing belief in the sector. Moreover, historical data suggests that a bull likely succeeds in a Bitcoin Halving event. In light of this, investors are looking for the best cryptocurrency to invest in with the bull market in view.

Best Cryptocurrencies to Invest in Right Now

Chiliz has shown resilience in the crypto market, recently increasing from 0.72% to $0.1239. Meanwhile, Tezos partnered with MintyCode, emphasizing its commitment to innovation and developer engagement. Additionally, Sealana, a newly launched meme coin on the Solana blockchain, has raised $280,483 in its current presale phase. 

While many digital assets are experiencing sideways movement or slight declines, Solana has surged by almost 2.28% in the last 24 hours. However, Bitcoin maintained a price of $63,618, while Ethereum saw a slight decrease of 0.84% to $3,075.

1. Chiliz (CHZ)

Chiliz has demonstrated resilience in the volatile crypto market, recently climbing by 0.72% to $0.1239. This positive movement pushed its market capitalization above $1 billion. Over the last 24 hours, CHZ’s trading volume increased by 5.98% to approximately $74 million, reflecting growing investor interest.

Furthermore, the token’s current price is 55.87% higher than its 200-day Simple Moving Average (SMA), which is $0.079618. This suggests a bullish trend over the long term. The coin has experienced 16 positive trading days out of the last 30, indicating sustained upward momentum.

Moreover, the platform has received significant attention due to its Dragon8 hard fork. This upgrade was announced recently, with the Dragon8 hard fork now active on the platform’s blockchain. It introduces a new tokenomics model along with several technological enhancements. This hard fork introduces the Chiliz Chain Tokenomics 2.0, featuring a structured annual inflation rate and a transaction fee-burning mechanism. 

Dragon8 🐉 Hard Fork official date (*) is set on the 21st of May.

With the Dragon8 Hard Fork, Tokenomics 2.0 and compatibility with other major Ethereum upgrades will be launched on Chiliz Chain, The Sports Blockchain. ⚽️#Dragon8 ⚡️ $CHZhttps://t.co/MZzVNO7CSF

— Chiliz ($CHZ) – The Sports Blockchain ⚽🏆 (@Chiliz) April 30, 2024

These changes aim to encourage active participation from validators and users by incentivizing commitment and engagement. In addition, Dragon8 brings important enhancements for developers, including the adoption of the latest Solidity version and support for type-2 transactions. 

Additionally, these advancements are designed to attract and support developers and users within the Chiliz Chain ecosystem, emphasizing innovation and community involvement. The newly introduced tokenomics model fosters community engagement, supports sustainable growth, and ensures long-term ecosystem development.

2. Tezos (XTZ)

Tezos is a blockchain and open-source platform designed for assets and applications. It prioritizes code security, decentralized governance, and scalability. Tezos 2.0’s upcoming upgrade aims to enhance scalability through layer 2 solutions and support mainstream programming languages like JavaScript and Python.

Furthermore, Tezos also emphasizes code security and formal verification to reduce the risk of bugs and vulnerabilities in smart contracts. The platform uses a liquid proof-of-stake (LPoS) consensus mechanism, allowing token holders to delegate their coins to validators and earn rewards without needing specialized hardware.

In the DeFi sector, XTZ has gained popularity due to its flexibility and interoperability. Its recent collaboration with MintyCode highlights its commitment to innovation and developer engagement. This partnership follows MintyCode’s success in integrating Tezos technology after winning a hackathon.

👉 Announcing that @MintyCodeDao is now integrated with #Tezos! Mintycode empowers developers to turn their ideas into leading tech solutions.

They were in the @Techstars 2023 #web3 cohort and won this year's first Tezos hackathon by integrating Tezos onto their platform.

Check… pic.twitter.com/4FKxaLTVuV

— Tezos (@tezos) May 3, 2024

At the time of writing, the sentiment towards Tezos’ price prediction is bearish, while the Fear & Greed Index indicates a sentiment of greed among investors. The current price of Tezos (XTZ) is $0.9284, with a recent 7-day increase of 4.48%. Over the past year, XTZ has seen a modest 2% increase in price. Tezos remains highly liquid based on its market capitalization.

3. Sealana (SEAL)

Sealana, a newly launched meme coin built on the Solana blockchain, has swiftly gained attention within the cryptocurrency community. In its initial hours of presale, Sealana raised $125K, indicating strong investor interest in meme coins despite market volatility in other cryptocurrencies.

The project’s website humorously portrays Sealana as a seal character deviating from its trim physique due to indulging in a “trader’s diet” of chips and tuna. For every 1 SOL contributed during the ICO, participants receive an airdrop of 6,900 SEAL tokens upon ICO completion. 

This strategy aims to incentivize early adoption and aligns with the growing enthusiasm for meme coins within the Solana ecosystem. Moreover, Sealana’s unique concept and connection with the Solana blockchain have resonated with the community, attracting a notable following. The project leverages cultural references and market timing to position itself as an attractive investment opportunity.

For investors intrigued by high-risk, high-reward ventures, Sealana represents an intriguing prospect. Its fusion of cultural appeal, strategic market entry, and experienced team support position it favorably to capture attention in the meme coin sector.

Visit Sealana Presale

4. Cosmos (ATOM)

Cosmos operates as a network connecting various blockchain platforms to enhance interoperability. Its recent updates have focused on refining its inter-blockchain communication protocol to facilitate smoother transactions across different blockchain networks.

Currently, ATOM is trading between $8.20 and $9.96. Despite a weekly increase of 8.37%, its value has dropped by 2.77% in the last 24 hours. Over six months, ATOM has shown a modest growth of 5.88%. 

The coin’s price is near its 200-day moving average of $10.0. A breakout above this level may confirm a bullish trend, potentially attracting more investors. Moreover, Cosmos’s performance has been favorable compared to its initial token sale price. 

Additionally, it boasts high liquidity, reflected in its market capitalization. Cosmos aims to foster seamless connectivity between diverse blockchain ecosystems. However, investors should closely monitor the coin’s price dynamics for potential market signals.

5. THORChain (RUNE)

At press time, THORChain is priced at $5.64, experiencing a 24-hour trading volume of $445.42 million. Over the past day, the RUNE price has risen by 3.75%. Despite these movements, the overall sentiment towards THORChain’s price prediction remains neutral, alongside a Fear & Greed Index score of 64 (Greed).

Over the past year, THORChain has seen a remarkable price increase of 367%, significantly outperforming 85% of the top 100 crypto assets, including Bitcoin and Ethereum. Moreover, it trades above its 200-day simple moving average, suggesting positive price momentum.

THORChain boasts high liquidity based on its market capitalization and has demonstrated positive performance compared to its token sale price.

THORChain sits at 3.4% DEX volume share

Over 10x from one year ago pic.twitter.com/ihlzXVpMBI

— THORChain (@THORChain) May 2, 2024

THORChain is a notable player in the cryptocurrency market, recognized for its substantial growth and strong market presence across multiple sectors. However, the sentiment surrounding its future price movement remains cautious, reflecting the current neutral outlook.

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