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Bitcoin has shown resilience despite a stable U.S. dollar, indicating growing confidence in the cryptocurrency market. Investors seem optimistic, which supports Bitcoin’s price stability. Bitcoin’s market dominance has slightly declined as altcoins attract more interest. This shift suggests that investors are exploring a broader range of cryptocurrencies, signaling a more diversified market.
The global crypto market cap is now at $2.74 trillion, up 5.28% over the past day. Trading volume has also surged, up by 46.3% to $169.23 billion in the last 24 hours, indicating active market participation. Altcoins like eCash, VeChain, and Hedera are seeing positive price movement, driven by the recent rally and market developments. This article analyzes the best cryptocurrencies to buy now, stating recent developments that could impact their value and adoption moving forward.
Best Cryptocurrencies to Invest in Right Now
Recently, TRON DAO launched the TRON-Peg USD Coin (TRC-20 USDC), a stablecoin designed to operate across both the Ethereum and TRON networks. Meanwhile, eCash is currently priced at $0.00003914, showing a 10.67% increase in the past 24 hours. VeChain has also made waves by introducing VeBetter, a decentralized autonomous organization (DAO) focused on driving sustainability and boosting the adoption of its VET token.
1. TRON (TRX)
Recently, TRON DAO introduced the TRON-Peg USD Coin (TRC-20 USDC), a stablecoin designed to work across both Ethereum and TRON networks. This cross-chain function allows users to transfer USDC more efficiently between the two blockchains, increasing liquidity for stablecoins and improving cross-border transaction options within the TRON ecosystem.
Furthermore, the TRON network has over 270 million active users and has facilitated more than 8.8 billion transactions. The network reached a total value locked (TVL) of $16 billion, surpassing Ethereum in USD Tether (USDT) supply in April 2021.
#TRON is announcing the TRON-Peg USD Coin, a cross-chain solution designed to streamline borderless transactions and broaden TRON’s stablecoin ecosystem. 🌐
Read more from @Benzinga: 👇https://t.co/TIW2bFCwQt pic.twitter.com/RrTVBp3g2z
— TRON DAO (@trondao) November 8, 2024
Over the past year, the platform’s transfer volume surged by 1928%, a growth attributed to TRON’s lower transaction costs, which have attracted a growing user base seeking cost-effective solutions. As of the latest data, TRX is priced at $0.1657, with a 3.37% increase in the past 24 hours. Trading volume has risen 76.73% to $513 million, and the market cap has grown by 3.36%, reaching $14 billion.
Meanwhile, TRX currently trades 16.40% above its 200-day Simple Moving Average of $0.1422, indicating recent upward movement relative to long-term trends. The 14-day Relative Strength Index (RSI) for TRX is 49.51, suggesting neutral momentum and the likelihood of sideways trading in the near term.
2. VeChain (VET)
VeChain recently introduced VeBetter, a decentralized autonomous organization (DAO) aimed at promoting sustainability and expanding the adoption of its VET token. VeBetter uses token-based incentives to represent and reward actions that contribute to environmental goals. This structure allows sustainability efforts to be easily tracked, recorded, and verified on the blockchain.
Furthermore, VeChain’s blockchain plays an essential role in supporting this initiative by offering a low-cost, efficient system for tracking small actions that traditional methods often overlook. By integrating these sustainability efforts into a digital framework, VeBetter aims to create a culture of accountability and open opportunities for market growth.
The VeChain ecosystem has seen a positive response, with the VET token currently trading at $0.02555, showing a 14.7% increase over the past 24 hours and a 32.65% increase over the week. Market sentiment toward VeChain remains optimistic, supported by a Fear & Greed Index score of 69 (indicating “Greed”) and 15 green days over the past month.
Additionally, the token’s 24-hour volume-to-market-cap ratio is 0.0835, reflecting moderate liquidity for its market cap. Through VeBetter, VeChain is exploring how tokenized incentives can drive sustainable practices, with early token performance showing signs of positive market engagement.
3. eCash (XEC)
eCash is a digital currency designed for Internet transactions, focusing on speed and scalability. Its structure allows it to interact with decentralized finance (DeFi) systems, which broadens its potential applications within digital financial ecosystems.
The project combines two consensus mechanisms: Avalanche protocol and Nakamoto consensus. Avalanche is known for its efficiency in processing large volumes of transactions, while Nakamoto consensus adds security. Together, these elements aim to provide a fast, secure, and scalable network, positioning eCash as an alternative to traditional financial systems and potential central bank digital currencies (CBDCs).
Currently, eCash is priced at $0.00003914, reflecting a 10.67% increase over the past 24 hours. Market sentiment is cautiously optimistic, and the Fear & Greed Index shows a value of 69, indicating a possible favorable outlook among investors.
On the technical side, the token trades about 26.67% above its 200-day simple moving average (SMA), which is at $0.00003064. Meanwhile, the 14-day RSI is 28.36, suggesting that eCash is currently in oversold territory, which might imply the potential for a price rise. Over the last month, eCash saw 15 days of price gains, indicating recent sustained activity.
High liquidity relative to its market cap provides stability for eCash, which may help reduce the impact of price volatility. According to Coincodex’s recent predictions, eCash could see a price increase of 225.53% in the near term.
4. Hedera (HBAR)
Hedera has integrated with Zoniqx, a key player in Real World Asset (RWA) tokenization. Through this integration, Hedera’s blockchain now supports Zoniqx’s Tokenization Platform as a Service (TPaaS), which enables the creation, issuance, and management of compliant security tokens.
This aims to make traditionally illiquid assets more accessible by converting them into tokenized, tradable forms. HBAR, Hedera’s native token, is currently trading at $0.05589 and has shown a 9.41% gain in the past 24 hours. The token has a volume-to-market-cap ratio of 0.0781, reflecting relatively high liquidity.
Market sentiment is bullish, with the 14-day Relative Strength Index (RSI) at 50.71, indicating a neutral zone that may suggest potential sideways movement. Over the past week, HBAR has gained 32.75% and is up 9.19% in the past month. Meanwhile, the token has experienced 15 green days in the past month, further showing its resilience in the market.
5. FreeDum Fighters (DUM)
FreeDum Fighters has gained significant attention in the crypto world, particularly in the wake of the US election. The project has experienced a notable surge, with its presale funds jumping from $250,000 to over $457,000. This rise has caught the eye of investors looking to take advantage of the growing popularity of political-themed meme coins.
At its core, FreeDum Fighters is a cryptocurrency project that combines political themes with storytelling. One of its standout features is its central character, MAGATRON, inspired by former President Trump. The project operates using the ERC-20 token DUM, which serves as the foundation of its ecosystem.
Looks like we have a winner ladies and gents!
But just because Trump and Kamala are done, doesn't mean MAGATRON and Kamacop are. In this parallel dimension we are yet to choose a victor 🇺🇸 pic.twitter.com/uwO1h7sHMK
— FreeDum Fighters (@Freedum_Fighter) November 6, 2024
DUM is a proof-of-stake (PoS) asset, allowing holders to stake their tokens and earn passive income. This feature appeals to those who want to generate returns without actively trading. The platform offers simple staking rewards, encouraging users to hold onto their tokens rather than selling them immediately.
In addition to staking, FreeDum Fighters introduces a unique element with its weekly debate system. Token holders can vote and participate in discussions, where they can earn rewards based on the performance of AI avatars representing various political figures. This system fosters engagement and creates an interactive experience that goes beyond typical meme coin projects.
Visit FreeDum Fighters Presale
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