Join Our Telegram channel to stay up to date on breaking news coverage
This article analyzes current market trends and identifies tokens with potential for investors aiming to take advantage of market opportunities.
The recent approval of a spot Ethereum ETF and a decrease in U.S. inflation rates indicate a positive outlook for the crypto market. Certain altcoins within the DeFi sector are showing promise and offering attractive investment opportunities. As a result, investors are keen to identify the best cryptocurrencies to invest in now.
Top Cryptocurrencies to Invest in Now
Recently, XRP has attracted significant attention due to the actions of large holders and growing interest in its derivatives market. Meanwhile, the native token of the Mantle network, MNT, has seen a notable price increase. Over the past week, MNT’s value has risen by 0.89%, reaching $0.8348. Additionally, Jito has launched an open-source restaking service for the Solana blockchain.
1. Pyth Network (PYTH)
Pyth Network has recently integrated with Galxe, incorporating its real-time price feeds into Gravity, Galxe’s newly unveiled Layer 1 omnichain. This integration aims to enhance the efficiency of decentralized applications by providing accurate and timely market data, essential for the optimal functioning of the next generation of DeFi solutions.
Gravity now benefits from over 550 real-time price feeds from the Pyth Network. These feeds cover cryptocurrencies and traditional asset classes, aligning with Gravity’s goal of offering a seamless on-chain experience. This focus on ease of use helps to simplify the complexities of Web3 for users.
Using Pyth’s pull oracle, users can receive frequent and timely price updates, enhancing the security and usability of DeFi applications on Gravity. Furthermore, Pyth Network has become a popular choice for perpetual futures trading across several major blockchain networks, holding a leading market share.
Pyth Price Feeds are now available on Gravity, the newest Layer 1 omnichain by @Galxe 🌌@GravityChain is designed for mass adoption and an omnichain future. In this spirit, Pyth unlocks over 550 real-time price feeds for builders on Gravity.
Learn more about our deployment… pic.twitter.com/fSQyBXzMkp
— Pyth Network 🔮 (@PythNetwork) July 22, 2024
The PYTH token has seen notable activity recently. Currently trading at $0.3489, the token experienced a 1.84% decrease in the past 24-hour trading session. However, it recorded a 5.64% increase over the past month. The market sentiment around PYTH remains bullish, with positive outlooks from investors and analysts.
The 14-day Relative Strength Index (RSI) stands at 51.94, suggesting a neutral stance and potential sideways trading. Additionally, the token has shown strong liquidity, with 17 green days out of the last 30, reflecting a 57% positive trading pattern.
2. Base Dawgz (DAWGZ)
Base Dawgz has garnered significant attention due to its growing community and unique multi-chain compatibility. This token supports multiple blockchain networks, including Base, Ethereum, Solana, Binance, and Avalanche.
At press time, the price of DAWGZ is $0.006725, with a price increase expected in 4 days. The project has allocated 1.69 billion DAWGZ tokens, which is 20% of the total supply of 8.4 billion tokens, for staking rewards.
🪂 2.6 MILLION 🚀
Well done big $DAWGZ! pic.twitter.com/DZQ3unZS8K
— Base Dawgz (@BaseDawgz) July 20, 2024
Furthermore, Base Dawgz plans to distribute 192,000 DAWGZ tokens every hour for a year, allowing investors to earn additional tokens regularly. Early investors can achieve an annual percentage yield (APY) of over 1144%.
The project also features a Share-to-Earn system. This incentivizes community members to create and share content like memes to earn more DAWGZ tokens. Moreover, Base Dawgz has a detailed roadmap focusing on community growth, exchange listings, and further development.
These plans aim to sustain and expand the project’s engagement and hype. Combining staking rewards, multi-chain flexibility, and community-driven incentives, Base Dawgz presents itself as one of the top cryptocurrencies to invest in.
3. XRP (XRP)
Recently, XRP has garnered significant attention due to activities by large holders and increasing interest in its derivatives market. On-chain data showed that whales transferred around 77 million XRP coins in one day. This spike in movement aligns with an upcoming closed-door meeting of the U.S. Securities and Exchange Commission (SEC), sparking widespread speculation about XRP’s future.
Among these transactions, one whale address accumulated 23.28 million XRP, worth about $13.90 million, from the major exchange Binance. Another significant transaction involved a whale address, which moved 54.29 million XRP, valued at $32.30 million, to the Bitstamp and Bitso exchanges in two separate transfers.
Currently, XRP is trading at $0.6188, reflecting an 8.77% increase within the past week. Market sentiment around XRP is optimistic and driven by strong investor confidence. This positive outlook is further supported by a 16.82% surge in daily trading volume over the past 24 hours, reaching 2 billion. The increased trading volume suggests more buyer activity, potentially driving the price higher in the short term.
The 14-day Relative Strength Index (RSI) is at 55.39, indicating a neutral position where the token might trade sideways. Furthermore, XRP has seen 20 green days out of the last 30, showing consistent performance and high liquidity due to its substantial market cap.
In addition, XRP’s recent whale activities and increased trading volume signal heightened interest and potential price movement. However, with a neutral RSI, the market might experience sideways trading soon. Investors remain cautiously optimistic as they await further developments from the SEC meeting.
4. Mantle (MNT)
The Mantle network’s native token, MNT, has recently experienced a notable increase in its price. Over the past week, MNT’s value has risen by 0.89%, reaching $0.8348. This price increase has prompted many investors to prepare to sell their holdings.
As a result, there has been a significant influx of MNT tokens onto exchanges, suggesting investors want to capitalize on the recent gains. According to data from Santiment, 321 million MNT tokens, valued at approximately $286 million, are currently held in exchange wallets. This move is often made to take advantage of profitable transactions.
Moreover, Mantle’s ecosystem is growing rapidly, with the token experiencing increased adoption. The total value locked (TVL) in Mantle has surged, driven by incentive programs. Recently, $COOK announced a 6% airdrop for Puff community members, contributing to a 68.47% increase in TVL on July 24.
Introducing the $COOK logo reveal, token supply, and details on the Season 1 campaign rewards allocation:
15% of the total $COOK token supply will be initially distributed among four ecosystem initiatives, including Season 1: Methamorphosis.
Here’s what you need to know 👇 pic.twitter.com/NubwcVonZf
— Mantle (@0xMantle) July 22, 2024
The 14-day Relative Strength Index for MNT is 63.96, indicating that the cryptocurrency is neutral and may trade sideways. Despite this, market sentiment surrounding the MNT token remains bullish. There have been 17 green days in the last 30 days, showing positive momentum.
Analysts predict that Mantle’s price could reach its upper resistance level of $1.140 if the market continues to trade under a bullish influence. This outlook suggests potential growth, but investors should remain cautious and consider market trends when making decisions.
5. Jito (JTO)
Jito has recently launched an open-source restaking service for the Solana blockchain. This service aims to allow any protocol on Solana to create a mechanism for providing economic security to nearly any on-chain application, known as an “actively validated service” (AVS). Notably, Jito’s code lets users secure AVSs using their preferred cryptocurrency.
Following the announcement, the JTO token saw a notable price increase. Despite a general market downturn, the Jito community has strongly supported the program, increasing the token’s price.
1. Announcing Jito Restaking: A Next-Gen Infrastructure Platform
The Jito Foundation is excited to release the code for Jito Restaking, a hybrid staking, restaking, and LRT module. 🤝
Wtf is that? Lets dive in. ↓ pic.twitter.com/7nDaZdnZIn
— Jito (@jito_sol) July 25, 2024
The JTO token is priced at $2.78, reflecting a 2.74% increase over the past day. The sentiment around Jito’s price prediction remains positive, with a Fear & Greed Index score of 68 indicating greed.
Over the past 30 days, the token has had 16 green days, representing 53% of the time. Additionally, it demonstrates high liquidity relative to its market cap.
Read More
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
Join Our Telegram channel to stay up to date on breaking news coverage
