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5 best altcoins to invest in now: Maker, Loom Network, Cronos, Band Network

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Contents
5 Best Altcoins to Buy Now1. Maker (MKR)2. Loom Network (LOOM)3. Cronos (CRO) 4. Bitcoin Minetrix5. Band Protocol (BAND)read more

Insidebitcoins regularly updates a list of the best tokens investors should consider for investments. This article summarizes some altcoins worth considering for your investment portfolio.

Early in the week, Bitcoin and other tokens made notable gains in trading in Asia. This rally is mainly driven by recent SEC developments in the United States.

Bitcoin has risen slightly over 1%, reclaiming the $27,000 price point. Meanwhile, Bitcoin’s main rival Ethereum also posted modest gains, rising just half a percent to maintain a value above $1,550.

Altcoins, which represent several other cryptocurrencies, also showed favorable trading performance in the early morning. The recent stability in Bitcoin’s price, which has been hovering around the $27,000 level, can be attributed to the SEC’s choice not to challenge the court’s decision favoring Grayscale Investments.

5 Best Altcoins to Buy Now

Market participants are currently showing cautious optimism about the potential approval of Bitcoin’s spot ETF applications by the SEC. This has led to modestly positive sentiment within the cryptocurrency market. As such, investors are looking for the best altcoins to buy given a bullish run. These are some of the preparations for a rally:

1. Maker (MKR)

In recent months, Maker has witnessed a significant influx of deposits, swaps and accumulations executed by prominent figures in the cryptocurrency space. These actions are part of Maker’s strategic ‘Endgame’ plan to improve operational efficiency, resilience and broader participation in the project.

MAKER price chart

Over the past 30 days, Maker (MKR) has seen an increase in value of 18.6%. Moreover, Maker’s live price is currently $1,440.21, with a 24-hour trading volume of $40,813,766. In the last 24 hours, Maker has experienced an increase of 1.89%, with a circulating supply of 977,631 MKR coins.

Maker (MKR) is the governance token for the MakerDAO and the Maker Protocol. MakerDAO is decentralized and the Maker Protocol is a software platform built on the Ethereum blockchain. These platforms allow users to issue and manage the DAI stablecoin.

Originally conceived in 2015 and fully launched in December 2017, Maker’s primary mission is to oversee DAI, a community-run decentralized cryptocurrency with a stable value pegged to the US dollar. Additionally, MKR tokens act as voting shares within the organization that governs DAI, granting voting rights on matters related to the development of the Maker Protocol.

In summary, the Maker ecosystem is breaking new ground in the decentralized finance (DeFi) industry. It aims to build decentralized financial products on blockchains with smart contracts. Ethereum is a prominent example of such a blockchain.

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2. Loom Network (LOOM)

Loom Network (LOOM) has recently received significant attention from investors due to a significant increase in trading volume. LOOM has witnessed a significant increase in market volume from approximately $200 million to over $900 million. This increase in trading activity is attributed to an influx of buying pressure, which has contributed to LOOM’s substantial growth.

LOOM price chart

The recent announcement of a collaboration has further fueled the increased interest. Loom Network has partnered with Atlassian, a globally renowned leader in team collaboration software.

Atlassian’s $975 million acquisition of LOOM had a positive impact on investor sentiment. This resulted in a price increase of over 1000% in the past 30 days. This increase in value has taken LOOM’s market cap from less than $50 million to more than 400 million.

From a technical perspective, LOOM has entered a pronounced bull run phase that appears to be still ongoing. The super trend indicator remains bullish, and a well-defined lower support level indicates reduced chances of a return to previous levels. Unless a significant bearish event occurs, intermediate pullbacks are more likely than a return to lower levels.

LOOM’s price is currently at $0.37, after rising 4.5% in the past 24 hours and a significant increase of 117.23% in the past seven days. Given the current dynamics, there is a possibility that LOOM could continue this upward trend until the end of 2023.

3. Cronos (CRO)

Cronos (CRO) is the native cryptocurrency of Cronos Chain, an open-source blockchain developed by Crypto.com. Cronos Chain is part of Crypto.com’s efforts to promote global adoption of cryptocurrencies, giving users greater control over their finances and data protection. Currently, the CRO blockchain primarily powers the Crypto.com Pay mobile payment app, with potential expansion to other products in the future.

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Cronos price chart

Cronos (CRO) is trading at $0.0528, with a 24-hour trading volume of $6,238,698. The market showed bullish momentum, pushing the CRO higher as buying pressure steadily increased.

Moreover, the $0.05000 level has been a major focus for bulls. Despite the prevailing bearish conditions, CRO managed to stay above this level today. The continuation of buying pressure could likely push CRO to higher price levels.

When we analyze Cronos on the daily chart, the bullish trend is clearly visible, with the price consistently staying above the $0.05000 level. Moreover, it has broken the USD 0.05200 resistance level, which may trigger a price increase.

It is worth mentioning that the $0.05000 level has proven to be robust support. Furthermore, any downside moves from current levels at this point are expected to encounter buying interest.

Analysts suggest a positive outlook for the cryptocurrency, especially as it surpasses the USD 0.05200 resistance level. The bullish momentum has been robust, and if this continues, further upside potential can be expected in the coming days.

4. Bitcoin Minetrix

Bitcoin Minetrix offers a cloud mining platform that addresses common issues among crypto users interested in Bitcoin mining. The platform provides an alternative to traditional hardware mining by allowing users to stake BTCMTX tokens in exchange for cloud mining credits. This decentralized approach aims to increase security and transparency for participants.

The fundamental concept of Bitcoin Minetrix revolves around users staking their BTCMTX tokens to earn cloud mining credits. This decentralizes control and creates a safer and more transparent mining experience.

There is substantial participation in the project, with over 400,000 BTCMTX tokens currently locked in staking. It is important to note that the current annual yield (APY) is 103.225%. However, this percentage is expected to decrease as more tokens are staked.

Bitcoin Minetrix has gained popularity, mainly due to the ongoing BTCMTX pre-sales. The presale raised over $1,578,829 by selling BTCMTX tokens at $0.011 per token. Of the total 4 billion token supply, 70% (2.8 billion BTCMTX) will be available during the presale phase, and investors can acquire them using ETH or USDT.

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Significantly, the minimum investment required is a modest $10, making this crypto mining opportunity accessible to many participants. With 13 days to go before the price rises, investors should take advantage of this window to get the token at the lowest possible price.

Visit Bitcoin Minetrix.

5. Band Protocol (BAND)

Band Protocol (BAND) is a cross-chain data oracle platform for connecting real-world data to blockchain applications. This innovative project makes it possible to include external data sources in smart contracts. Therefore, the capabilities of decentralized applications (DApps) are effectively extended with real-world data such as sports scores, weather updates and more.

BAND price chart

At the time of writing, Band Protocol (BAND) is trading at $1.44, with a 24-hour trading volume of $122,614,521. It is currently ranked 131st on CoinMarketCap and has a market capitalization of $194,432,941. Additionally, Band Protocol’s circulating supply includes 134,973,541 BAND coins, with no maximum supply specified.

Projections regarding Band Protocol’s future value suggest that it could reach $3.91 by the end of 2023. These predictions are supported by the expectation that Band Protocol will continue to gain popularity and witness greater adoption.

It is essential to remember that several factors can influence its value. This includes global economic instability and inflation, which can drive demand for secure and decentralized currencies.

In summary, Band Protocol aims to facilitate the integration of real-world data into blockchain applications. The strategic shift to the Cosmos network and the innovative role of the oracle nodes make it a notable player in the blockchain ecosystem. However, as with any cryptocurrency investment, potential investors should conduct extensive research and consider the inherent risks associated with this volatile market.

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