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Governments increasingly support blockchain and digital currencies, reflecting their growing significance. As digital assets gain rapid global acceptance, they attract more investors seeking to benefit from this expanding market.
The cryptocurrency sector presents significant opportunities for high returns, especially with emerging and promising projects. This article highlights some top cryptocurrencies to buy now, aiming to leverage potential market rebounds.
Top Cryptocurrencies to Buy Now
MultiversX recently entered a partnership with XION to enhance developer tools for next-generation Layer 2 solutions. In a similar move, Aptos announced its collaboration with Myco, a Web3 streaming platform, which has generated significant interest. Meanwhile, Chainlink has also secured a strategic partnership with Soneium, a new Layer 2 blockchain.
1. MultiversX (EGLD)
MultiversX is a blockchain protocol that offers horizontal scalability through comprehensive sharding techniques. Positioned as an ecosystem for the evolving internet, it aims to integrate decentralized finance, real-world assets, and the Metaverse. The protocol’s smart contract platform reportedly handles up to 100,000 transactions per second, with a 6-second latency and a transaction cost of $0.002.
Furthermore, EGLD facilitates the deployment of smart contracts, protocols, and dApps on the platform. It plays a key role in network operations, including staking, validation rewards, and transaction fees. Additionally, EGLD functions as a governance token, allowing holders to vote on network decisions.
The platform encourages developer participation by offering 30% of smart contract fees as royalties, which could help drive adoption. Recently, MultiversX partnered with XION. This collaboration aims to enhance developer tools for next-generation Layer 2 solutions by connecting XION’s chain abstraction technology with the MultiversX SDK.
Sovereign Chain Abstraction@burnt_xion's chain abstraction solution is connecting to the #MultiversX SDK for next-gen L2s.
Adding even more functionality and flexibility for developers working on simplifying UX across account login, interoperability, gas, signatures & more! pic.twitter.com/i8xBt8cJBj
— MultiversX | Sovereign Chains (@MultiversX) August 22, 2024
This development seeks to simplify user experience across various aspects like account login, interoperability, and transaction management. Currently, MultiversX is exchanging hands at $31.84, reflecting a 2.41% increase over the past 24 hours. The token has shown a 19.92% increase over the last week and a year-to-date growth of 26%.
Meanwhile, the Fear & Greed Index indicates a “Greed” sentiment at 55, while price prediction sentiment remains neutral. Market participants noted the token’s positive performance relative to its initial sale price and high liquidity. According to Coincodex’s analysis, MultiversX is expected to reach $104.20 by September, reflecting optimism about its future growth.
2. PlayDoge (PLAY)
The PlayDoge presale has garnered notable attention, raising over $6 million, with each PLAY token sold at $0.00532. The presale is set to close today, with token claims and DEX listings planned for August 29th.
PlayDoge is a mobile play-to-earn game that combines the Doge meme with Tamagotchi-style virtual pet care. Players adopt and care for a virtual Doge, engaging in activities like feeding, entertaining, and training to keep their pet happy and healthy. Beyond the gameplay, users can earn PLAY tokens through various in-game actions.
END OF THE PRESALE! 🚨
PlayDoge Claim and DEX Listings are launching on Thursday 29th at 10am UTC! 🚀
Import the token address into your wallet now for smooth claiming.
This is the very last chance to buy at list price. ⏳👇 https://t.co/uspqJZur98 pic.twitter.com/0CaCUQ7fzL
— PlayDoge (@PlayDogeGame) August 26, 2024
The game also incorporates classic 8-bit side-scrolling adventures, quests, and puzzles, offering additional opportunities to earn tokens. This blend of retro gaming elements with modern cryptocurrency has attracted investor interest, particularly due to the high demand for PLAY tokens during the presale.
Market participants suggest that PLAY has the potential for success, primarily due to the optimism shown during the presale. The token’s unique mix of familiar gameplay, crypto rewards, and strong community backing positions it as one of the top cryptocurrencies to buy now.
3. Chainlink (LINK)
Chainlink has shown strong positive momentum, returning from the $11.093 support level. Currently trading at $12.53, the coin has experienced a 3.11% intraday increase and a 23.65% gain over the last week. This upward trend indicates potential for sustained growth if the current momentum continues.
Furthermore, key indicators show that Chainlink’s position above important Exponential Moving Averages (EMAs) suggests a bullish market. This alignment points to the possibility of further price increases, provided the positive trend persists.
Despite the current market sentiment remaining neutral, traders have a strong sense of optimism. The cryptocurrency has recorded 15 green days in the last 30 days, demonstrating a 50% positive performance rate. Its high liquidity, relative to its market cap, further bolsters its standing.
.@Soneium—a next-gen blockchain by #Sony Group and @StartaleHQ—has chosen Chainlink as its premier launch partner.
By integrating the Chainlink platform, Soneium leverages the infrastructure needed to drive adoption as it enters the blockchain industry.https://t.co/wmAmY36D98 pic.twitter.com/2Esr2zC5Pj
— Chainlink (@chainlink) August 23, 2024
In addition to market performance, Chainlink has secured a strategic partnership with Soneium, a new Layer 2 blockchain. Announced on X by Chainlink, this collaboration will see Soneium utilize Chainlink’s infrastructure to drive blockchain adoption. This partnership highlights LINK’s role in making Web3 technology more accessible, particularly with the support of Sony Group’s global brand.
In addition, Chainlink’s recent achievements and market trends suggest a positive outlook. However, sustained growth will depend on its ability to maintain current momentum and capitalize on strategic partnerships.
4. Aptos (APT)
Aptos is drawing attention in the blockchain space with its innovative approach and deep roots in the Diem project. It is known for its expertise and focus on addressing common blockchain issues. The platform’s use of the Move programming language and its emphasis on achieving high throughput with low latency make Aptos noteworthy.
Recently, the platform announced a partnership with Myco, a Web3 streaming platform that sparked considerable interest. This collaboration seeks to transform the management and accessibility of digital content, potentially influencing the broader Web3 streaming and entertainment sector.
Additionally, Aptos has hinted at a partnership with Rarible. The platform has described this collaboration as a potential “game-changer” for both platforms, with plans to explore new possibilities for NFT applications.
The Aptos network has also seen a surge in activity recently. On August 14, it recorded nearly 144 million daily transactions, according to data from Aptoscan. While the reasons behind this spike remain unclear, it indicates a significant increase in on-chain activity.
"By leveraging Aptos' scalability and speed, @Tether_to promises users extremely low gas fees, costing just a fraction of a penny." – @YahooFinance
Love to see it. #MoveOnAptos 🌐https://t.co/awNfhFXZ7J
— Aptos (@Aptos) August 23, 2024
This increase in activity occurred shortly before Tether announced its intention to bring its U.S. dollar-pegged stablecoin (USDT) to the Aptos blockchain. Although the launch date has not been disclosed, Tether highlighted Aptos’ “robust developer community” and “extremely low gas fees” as key reasons for expanding onto the platform.
Meanwhile, the APT token has seen significant growth, with an increase of 2.41% intraday. This uptick reflects growing interest in the platform amid these developments.
5. Maker (MKR)
MakerDAO has introduced two new assets, NewStable and NewGovToken, as part of its ongoing Endgame plan. This strategy aims to enhance the protocol’s governance structure and improve the overall tokenomics of the MakerDAO ecosystem.
The NewStable token is designed to upgrade the existing DAI stablecoin, while NewGovToken is a new governance token that will function alongside the current MKR token. Moreover, DAI and MKR will remain available, though the new assets will gradually integrate into the platform, with future updates potentially influencing their roles.
The NewGovToken will be used for voting, similar to MKR. A key feature of NewGovToken is its conversion rate—one MKR will be equivalent to 24,000 NewGovTokens. This change is expected to boost community participation by enabling more users to hold the governance token, thereby increasing their ability to influence decisions within the MakerDAO ecosystem.
As of the latest update, MKR is trading at $2,033, showing a minor increase of 0.02% in the last 24 hours. MKR is performing well against technical indicators, trading above the 200-day simple moving average and showing strong liquidity relative to its market capitalization.
Furthermore, the 14-day RSI is currently at 58.74, indicating that MKR is neutral, which may lead to sideways trading shortly. In addition, MakerDAO’s introduction of NewStable and NewGovToken represents a significant step in its Endgame plan, aiming to enhance governance and expand the utility of its token ecosystem. The changes are designed to improve participation and offer upgraded versions of existing assets, positioning MakerDAO for future growth and adaptability.
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