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Searching the cryptocurrency market presents endless investment possibilities. With the dominance of bitcoin paving the way, altcoins offer investors several investment opportunities.
However, the evolution of the crypto space means that identifying the best altcoins worthy of investment requires deep understanding. Therefore, this article explores the best altcoins to invest in and reveals promising projects that are poised to experience an uptrend.
The 5 best altcoins to invest in right now
On Wednesday, the crypto-mining-stocks-booked-221636263.html”>cryptocurrency market exhibited continued strength despite the midweek nickname of “Hump Day.” This development sparked notable investor interest in altcoins and crypto mining stocks.
Marathon Digital Holdings, a leading company in the mining sector, closed the day with a value increase of almost 15%. These movements reflect investors' response to price movements within the cryptocurrency space.
1. bitcoin SV (BSV)
bitcoin SV has had a successful trading day, racking up a 65% intraday surge. In particular, the South Korean market is mainly driving this bullish trend. Upbit, South Korea's largest exchange, contributed about 65% of the total trading volume. Therefore, this highlights the significant interest and influence of Korean investors in the recent BSV price surge.
In the last 30 days, BSV saw gains in 17 days, making up 57% of the observed period. However, it maintains a position close to its cycle high. Additionally, the cryptocurrency has high liquidity based on its market capitalization.
Current market data shows that bitcoin SV is valued at $91.77, with a trading volume of $434.98 million. With a market capitalization of $1.8 billion, the token exerts 0.11% market dominance. In the last 24 hours, BSV rose by 60.05%.
Market sentiment and the Fear & Greed index indicate a bullish outlook, showing a reading of 73 in greed territory. The circulating supply of bitcoin SV is 19.59 million out of a maximum supply of 21.00 million BSV. Over the past year, the annual supply inflation rate was 1.85%, generating 356,417 BSV.
2. Meme Kombat (MK)
combat memes has emerged as a notable addition to the crypto landscape, drawing attention to its distinct features and objectives. In its current pre-sale phase, MK has successfully raised $4,968,753 out of a goal of $5,000,000.00. Thus indicating early interest among potential investors.
We have reached 4.8 million dollars in the $MK pre-sale
LFG pic.twitter.com/JsZprP66ik
—Meme Kombat (@Meme_Kombat) December 27, 2023
Furthermore, the main objective of the platform is to cater to gaming enthusiasts. Therefore, it offers a combination of betting and betting functionalities, allowing users to accumulate rewards.
Currently, 50% of MK tokens are available for pre-sale for $0.257 each, with a prescribed limit of $10 million. This strategy aims to improve the usefulness of MK tokens for its user base. It is worth noting that there is a 5-day window before the price per token increases to $0.268.
Kombat Meme The roadmap includes plans to list its tokens on a decentralized exchange. Therefore, 10% of the total token supply is allocated to facilitate smooth trading. This move underscores the project's commitment to fostering decentralized trading of MK tokens, a commitment detailed in its whitepaper.
3. Rocket Pool (RPL)
Rocket Pool has rallied over the past year, drawing the market's attention. The current price is $32.10, which is an increase of 61% in the last 12 months. RPL consistently traded above the 200-day simple moving average, indicating a sustained bullish trend in the market.
In the short term, Rocket Pool has experienced 16 positive trading days out of the last 30. This represents 53% of the observed period. This recent trend, coupled with its high liquidity based on a market capitalization of $641.75 million, suggests some degree of interest and participation in the market.
As for market sentiment, the current outlook for Rocket Pool appears bullish, aligning with a fear and greed index showing 73 (greed). Examining its supply metrics, Rocket Pool is currently circulating 19.99 million RPL out of a maximum supply of 19.11 million RPL. The annual supply inflation rate is 94.47%, which generated an RPL of 9.71 million over the past year.
Rocket Pool continues to integrate deeply into the growing Base ecosystem, providing more options for users.
Read on to find out how Base, Coinbase Wallet, and Coinbase Ventures support ethereum's decentralized liquid staking protocol
1/4 pic.twitter.com/eLXwgtzXBX– Rocket Pool (@Rocket_Pool) December 11, 2023
As of now, Rocket Pool is ranked 28th in the ethereum (ERC20) token sector based on market capitalization. This positioning within the market reflects its relative position compared to other projects in the sector.
4. Chain Link (LINK)
Chainlink (LINK) has seen a resurgence in the altcoin market through 2024, showing notable price movements. In the last 24 hours, LINK rose 17% to $17.50. This is accompanied by a significant increase in trading volumes, which almost double to $1.1 billion. This increase is reportedly attributed to substantial purchases made by Chainlink whales. Furthermore, this is indicated by the acquisition of approximately 7 million LINK tokens, with a weekly value of $105 million.
Additionally, analysts highlighted this increase in confidence among major players within the Chainlink ecosystem as whales built up significant supplies. At the same time, LINK price stabilized above $14 levels over the past week.
From a technical perspective, Chainlink (LINK) appears to be consolidating within a solid reaccumulation zone. Following a flag and flagpole breakout pattern, sustaining its price above $17 could trigger a fresh rally towards the $25 mark.
The highest price recorded for LINK since the last cycle low is $17.67 (cycle high). Furthermore, sentiment analysis indicates a bullish outlook for Chainlink, while the Fear & Greed index registers at 73 (Greed).
Q4 2023 Product Update@chainlinklabs Product Director @kelmoujahid it covers:
• The latest Chainlink implementations
• What's next for #Link of the chain oracle services
• The main areas of interest of the network for 2024Immerse yourself https://t.co/9QomUC8DNy
– Chain link (@chain link) December 19, 2023
Looking at its market statistics, Chainlink's circulating supply stands at 568.10 million LINK out of a maximum supply of 1 billion LINK. Notably, the annual supply inflation rate is 11.83%, which generated 60.10 million LINK last year. Over the last 30 days, Chainlink has observed 17 green days, representing 57% of the period. It is currently trading near its cycle high, indicating high liquidity based on its market capitalization.
5. Lido DAO (LDO)
Lido DAO Token (LDO) has shown notable growth over the past year, experiencing a substantial 193% increase in its price. This performance has positioned it favorably among the top 100 crypto assets, surpassing approximately 71% during this period. Notably, LDO has also surpassed the growth rates of bitcoin and ethereum.
Currently, LDO is trading above its 200-day simple moving average, indicating a positive trend in its value. Additionally, recent market activity has seen 16 green days in the last 30 days. Therefore, this constitutes 53% of positive trading sessions, reflecting a moderate but steady upward trajectory.
In terms of token economics, the circulating supply amounts to 890.17 million LDO out of a maximum supply of 1 billion LDO. The annual inflation rate remains remarkably high at 184.44%, creating 577.22 million LDO over the past year.
The highest price recorded since the previous cycle low is $3.30, marking a cycle high for LDO. Furthermore, the Fear & Greed index indicates a sentiment of 73 (Greed), indicating predominantly positive market sentiment.
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