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In this post, we highlight high-potential cryptocurrencies that traders can consider for investment, catering to their quest for the best options on any given day.
As the crypto market shifts, attention turns to coins that could surge in value during the anticipated Bull Run. Recognizing these prospects is crucial for strategic investors. This article focuses on specific cryptocurrencies expected to grow significantly, providing insight into the reasons for their potential rise.
Top Crypto to Invest in Right Now
5th Scape’s ICO funding has exceeded $4 million, fueling speculation about its potential to transform the gaming sector. Arbitrum’s market performance has seen a dynamic trend, increasing by 2.67% to $1.47 within the day. Avalanche has recently been eyed by investors in the cryptocurrency market, attributed to a significant influx of investment from high-net-worth individuals.
1. Polygon (MATIC)
Polygon is a layer-two scaling solution built on Ethereum and is poised for potential growth amidst the increasing adoption of Web3 protocols and smart contracts. The altcoin currently boasts a fully diluted valuation (FDV) of approximately $8.6 billion, with a daily AVL of around $280 million. Despite experiencing a recent 9% dip over one week and a 15.55% drop over one month, MATIC has surged by 59.22% over six months.
This signals mixed short-term corrective movements but a significant long-term rise. The price of Polygon is currently hovering between $0.96 and $1.07, with speculation that it may surpass the $1 resistance level. Known for its collaborations with various blockchain projects, Polygon benefits from a thriving ecosystem that drives demand for MATIC.
A gamer’s life. It travels worlds, without the ability to carry legacy, ownership, esteem.
Until now.@Moonveil_Studio is launching a dedicated chain with Polygon CDK, powering an interoperable web3 gaming ecosystem.
Moonveil will leverage an aggregated network so gamers can… pic.twitter.com/QCRyBSZx3U
— Polygon | Aggregated (@0xPolygon) April 2, 2024
Additionally, the upcoming upgrade of MATIC to POL is seen as a promising fundamental development that could further boost the token’s price in the long run. Following Ethereum’s recent London hard fork upgrade, the Polygon network has experienced increased on-chain activity due to reduced transaction fees.
Market data indicates that the Polygon network has a total value of about $1 billion and has collected fees totaling around $111k from a 24-hour trading volume of approximately $112 million on its web3 protocols. With over $9.9 billion in bridged total value locked (TVL), Polygon stands to benefit from the growing adoption of Ethereum’s web3 ecosystem, driven by institutional investors.
2. 5th Scape (SCAPE)
5th Scape‘s initial coin offering (ICO) funding has surpassed $4 million. This achievement has sparked speculation about the project’s potential to revolutionize the gaming industry. Furthermore, 5th Scape fusion virtual reality (VR) gaming with blockchain technology, enticing crypto investors who see promise in this innovative combination.
🚀 Our presale has surged past stage 3!
🌐 Join us now and delve into a world of virtual reality with our multi-utility token.
🎉 Don't miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage 🌟 pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024
With over $4 million already raised in its ICO, many are intrigued by the possibility of 5SCAPE experiencing substantial growth soon. The project aims to create an ecosystem that seamlessly integrates high-quality gaming experiences with the capabilities of blockchain technology. It also offers various immersive VR games, including realistic sports simulations, combat games, and racing experiences.
One of the key features outlined in 5th Scape’s whitepaper is the benefits for 5SCAPE token holders, which include lifetime access to the platform’s gaming library and attractive staking rewards. Additionally, the project plans to establish a decentralized creator marketplace where 5SCAPE will serve as the primary currency for transactions. Leveraging blockchain technology, 5th Scape aims to introduce a novel approach to VR gaming.
It combines it with the principles of Web3 to create a unique user experience. This ambitious vision appears to be a driving factor behind the significant demand for the project’s ICO thus far.
3. Arbitrum (ARB)
Arbitrum’s recent market activity reflects a dynamic trend. As of the latest update, ARB Coin was valued at $1.47, showing a 2.67% increase within the day. However, this upswing contrasts with a significant downturn experienced after unlocking 1.1 billion ARB tokens in March.
Over the past 20 days, the altcoin has declined more than 30%. Despite this, there seems to be a stabilizing effect around the $1.4 mark, with bullish efforts to prevent further losses by maintaining support above this level. Moreover, current sentiment surrounding Arbitrum’s price prediction leans towards optimism, while the Fear & Greed Index registers a value of 75, indicating a sentiment of “Greed” in the market.
Furthermore, Arbitrum’s trading activity is significantly above the 200-day Simple Moving Average (SMA) by 40.08%, with the SMA at $1.038560. This suggests relatively high liquidity based on its market capitalization. A recent development worth noting is Arbitrum’s collaboration with Anchorage Digital, a move expected to foster increased institutional adoption and bolster growth within the Arbitrum ecosystem.
We’re pleased to share that @Anchorage Digital now supports Arbitrum, with governance support on the way💙
This marks a notable step towards increased institutional adoption and growth for the Arbitrum ecosystem! https://t.co/BObLPbDfOZ
— Arbitrum (💙,🧡) (@arbitrum) April 3, 2024
Anchorage’s support for Arbitrum encompasses custody services for Arbitrum-based assets such as Ether, USDC, and ARB. Additionally, “governance support” plans are in the pipeline, marking a significant stride towards enhancing the platform’s functionality.
According to Steven Goldfeder, one of Arbitrum’s co-founders, Anchorage is among several crypto custodians facilitating the holding of Arbitrum-based tokens. This partnership underscores the project’s commitment to expanding its reach and accessibility within the digital asset landscape.
4. Avalanche (AVAX)
Recently, Avalanche has received significant attention in the cryptocurrency market due to a notable influx of investment from high-net-worth investors. These investors, each holding between $1 million to $10 million worth of AVAX, collectively acquired nearly 52 million AVAX tokens. This acquisition totaled over $2.1 billion in just three days since the beginning of April.
This surge in investment from crypto whales indicates a strong confidence in the potential for price appreciation of AVAX. Analysts predict a possible increase of 23.5% from its current trading price of $47.54. This potential increase could reach $60, slightly surpassing the year-to-date high of $65.
Avalanche has demonstrated notable performance metrics in the crypto market. Moreover, its price has experienced an intraday increase of 5.88%, reaching $47.54. Over the past year, AVAX has witnessed a remarkable growth of 168%. Technically, Avalanche is trading above its 200-day simple moving average, indicating positive momentum.
What are the key advantages to building on Avalanche, and what major upgrades are coming up this year?@el33th4xor goes in depth about all things Avalanche with @AshBennington on @realvision! https://t.co/cv7tgUOfPj
— Avalanche 🔺 (@avax) April 5, 2024
Additionally, it has exhibited strong liquidity based on its market capitalization. Overall, the significant investment from crypto whales and the positive performance metrics suggest a bullish outlook for Avalanche. However, as with any investment, investors need to conduct thorough research and consider the associated risks before making any decisions.
5. Sui (SUI)
Sui has recently announced a strategic integration with DRIFE, a Web3 Mobility infrastructure provider. This collaboration aims to streamline the onboarding process for users and ecosystem partners in the ride-hailing sector. Moreover, DRIFE seeks to expand the decentralized mobility infrastructure sector by migrating onto the Sui Blockchain.
Furthermore, Sui removes technical barriers to developers launching their projects on the platform. At the time of writing, SUI is trading at $1.63, marking a 4.04% intraday increase and trading above the 200-day simple moving average. The token has exhibited positive performance compared to its initial token sale price.
In addition, Sui’s Decentralized Exchange (DEX) volume experienced a significant surge, reaching over $2.88 billion in March, a 49% increase from February. This increase can be attributed to platforms like Cetus and the wholesale liquidity layer DeepBook. Reports from DeFiLlama indicate that Sui recorded over $830 million in trading activity in the past week alone.
Since January 2024, Sui has made substantial strides in the DeFi space, surpassing a total locked value (TVL) of $700 million earlier this week, reflecting a 1900% increase since October 2023. Additionally, Sui’s transaction volume continues to rise, setting a standard for the DeFi ecosystem.
The Road to #SuiBasecamp continues!
Alongside @4ptOLabs, we’ve been hosting Move workshops across Europe.
Dive into #Move and Sui by watching @QuantoxCom's recap of our event in Belgrade earlier last month! https://t.co/yXrx926E4b
— Sui (@SuiNetwork) April 6, 2024
During its mainnet era, Sui processed an impressive 65.8 million daily transactions, setting a new record in blockchain history. This achievement underscores Sui’s commitment to maintaining network reliability and efficiency. SUI has witnessed five times more inflows from Ethereum over the last three months than Avalanche and 78% more than Solana. This indicates growing interest and confidence in the Sui ecosystem within the crypto community.
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