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The cryptocurrency market continues to diversify, with altcoins showing notable developments despite some fluctuations. Despite a recent price dip, Solana remains a significant token, as increased derivatives market activity suggests sustained trader interest. Many investors are holding strong, long positions, indicating confidence in its potential. Moreover, XRP also maintains a generally bullish market sentiment. Meanwhile, Dogecoin is gaining popularity, with optimistic sentiment growing on platforms like OKX.
Investors are actively seeking promising altcoins that show growth potential. This article highlights some of the best cryptocurrencies to invest in right now, assisting investors in identifying opportunities for potential gains.
Best Cryptocurrencies to Invest in Right Now
CELO has recently shown strong trading activity in the market. Memebet, on the other hand, has raised over $372,000, signaling interest in its mix of meme coins and GambleFi. Meanwhile, Arweave has gained more attention, with an intraday rise of 4.60%, pushing its price to $19.55.
1. Celo (CELO)
Celo focuses on increasing financial inclusion through mobile access. Its design simplifies cryptocurrency use, especially in emerging markets where traditional banking infrastructure might be limited. In terms of market performance, CELO recently demonstrated strength in its trading activity. The token reached a 24-hour high of $0.8102 after opening at $0.7194.
Currently priced at $0.7553, it has seen a slight intraday decline of 0.66%. However, over the past seven days, CELO has gained 10.54%, reflecting a positive trend. The token has also traded in the green for 20 of the last 30 days, indicating a relatively high level of liquidity in the market.
Technical indicators such as the 14-day Relative Strength Index (RSI) sit at 35.60, suggesting the cryptocurrency is currently neutral, with potential sideways movement soon. This neutral RSI implies there is no significant overbought or oversold pressure, which may point to continued price stability.
Market sentiment around CELO is currently bullish, supported by a neutral reading of 50 on the Fear & Greed Index. Should the token maintain its current levels or build further momentum, traders might expect an upward continuation in its price trajectory.
2. Arweave (AR)
Arweave is a decentralized storage network designed to provide a platform for permanent data storage. The platform’s main offering is the “permaweb,” a decentralized, permanent web that supports a range of community-driven applications and platforms.
Moreover, Arweave’s native token, AR, plays an important role in the network by incentivizing participants to maintain data availability. In exchange for hosting and securing data, users are rewarded with AR tokens, helping to ensure the network’s stability and longevity. This structure aligns with Arweave’s goal of providing reliable and censorship-resistant storage solutions.
Recently, Arweave has attracted more attention and records an intraday increase of 4.60%, reaching $19.55. This price movement signals growing interest in decentralized storage, likely driven by the increasing demand from individuals and businesses seeking data storage that cannot be modified or censored.
The number of innovative projects building on AO just keeps growing. 🌱🌳
Check in with @PSkinnerTech to hear all about it on today's episode of The Testnet Show! pic.twitter.com/6K4lCEX4m6
— ao (@aoTheComputer) September 30, 2024
In addition, Arweave’s combination of decentralized architecture, long-term storage focus, and blockweave technology sets it apart as a potential solution for permanent data storage needs. Its recent price surge reflects the rising interest in decentralized alternatives to traditional storage.
3. Fantom (FTM)
Fantom’s native token, FTM, saw a 5% price increase over seven days, reaching $0.6850 on October 2. Over the past month, the token has experienced a notable 69% rise, largely driven by community anticipation surrounding an upcoming update, known as the Sonic upgrade, which is scheduled for November or December.
Furthermore, the Sonic upgrade is expected to introduce several key improvements to Fantom’s infrastructure. This includes the introduction of a new Fantom Virtual Machine (FVM), an optimized Lachesis consensus mechanism, and a new database storage system called Carmen. These changes aim to enhance network performance and scalability.
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Post-upgrade, the blockchain is expected to process over 2,000 transactions per second (TPS) with a finality time of about one second. This would be a significant leap from the current capacity of 30 TPS. The faster throughput could make Fantom more competitive in the broader blockchain ecosystem.
Moreover, the anticipation surrounding these enhancements has led to renewed interest in the Fantom ecosystem. According to data from DeFiLlama, Total Value Locked (TVL) in Fantom’s decentralized finance (DeFi) applications grew by 55% in the last month, reaching $108.8 million. Increased network activity reflects this growth and suggests rising adoption within the ecosystem.
4. Memebet (MEMEBET)
Memebet Token is currently in the Initial Coin Offering (ICO) stage, attracting notable attention from the cryptocurrency community. The project has raised over $372,000, reflecting interest in its approach, which combines the meme coin and GambleFi sectors.
Its focus on meme coins sets Memebet apart from traditional crypto betting platforms. Users can place wagers using widely recognized meme tokens such as Dogecoin and Pepe. This feature adds a lighthearted element to the betting experience, appealing to a specific audience. The platform operates on web and Telegram-based gaming channels, allowing decentralized betting with these tokens.
The project’s slogan, “The casino for meme degens,” sums up its goal of merging the thrill of gambling with the appeal of internet culture. Token holders receive various incentives, such as exclusive bonuses and challenges within the casino. Additionally, Memebet introduces a play-to-earn system where users are rewarded with airdrops. This mechanism is designed to keep participants engaged within the platform’s ecosystem.
Meanwhile, as part of Memebet’s marketing, the project partnered with the Argentina national soccer team. Given the team’s recent World Cup victory, this collaboration increases the project’s visibility, reaching millions of soccer fans in South America and Europe. This exposure strengthens Memebet’s presence in the competitive crypto space, boosting its credibility.
5. Pendle (PENDLE)
Pendle is making a mark in the decentralized finance sector by offering a novel way to trade future yields. This allows users to potentially optimize their returns through smart contracts that interact with other DeFi platforms. Pendle’s system facilitates the trading of future returns on various assets, which enhances opportunities for yield generation.
Recent developments, including updates to its smart contracts and new partnerships, show the project’s ongoing growth. These advancements reflect Pendle’s focus on evolving its infrastructure and expanding its influence in the DeFi ecosystem.
At the time of writing, Pendle’s price is $3.89, reflecting a modest upward movement of 2.41%. Over the last month, Pendle’s value has risen by 47.35%, indicating solid demand in the market. This significant gain positions it as one of the best cryptocurrencies to invest in right now.
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— Pendle (@pendle_fi) October 3, 2024
If the current trend continues, Pendle could rise to $6.31. However, increased selling pressure may push the price down to $3.16, highlighting some volatility in its price forecast. The broader sentiment around Pendle remains positive, with the price prediction outlook leaning bullish.
Additionally, the Fear & Greed Index, which gauges market sentiment, currently stands at 50, indicating a neutral sentiment among traders. According to some predictions, the price of Pendle may reach $12.73 by next month.
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