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Investors are constantly looking for tokens to profit from the expected bull run. With Bitcoin in some decline, altcoins offer a promising alternative. For investors eager to take advantage of the current market outlook, this guide is your key to unlocking the best altcoins.
6 best altcoins to invest in now
Although the market is relatively quiet, some tokens are buzzing with potential. Several altcoins, including Sui, TRON and KAVA, have attracted attention. This guide highlights the unique features that make these altcoins stand out and provides investors with valuable insights to make informed market decisions.
Meanwhile, the recent debut of spot Bitcoin Exchange Traded Funds (ETFs) have caused a shift in investor behavior in the market. According to a recently released report from digital asset fund manager CoinShares, $21 million has been withdrawn from high-profile crypto funds in the past week.
1. Sui (SUI)
SUI is firmly anchored at $1, indicating an imminent rise to $2.5. With this resilience, Sui has a promising trajectory to reach $12 in the next Bull Run. Moreover, the price of SUI is at $1.112874, up 6.91 in the last 24 hours. Along with this increase, Sui’s trading volume reached $1.11 billion, showing a market dominance of 0.08%.
Furthermore, recent data from CoinMarketCap indicates a significant spike in trading volume. As such, the price surpassed $950 million on January 13, after an extraordinary 2,200% increase in just three months.
???? @DesigLabs shows how the all-new Staking Aggregator collects data from staking protocols, assesses it, and presents the best options for users. https://t.co/5SEgbqHJw6
— Sui (@SuiNetwerk) January 20, 2024
When we dig into SUI’s growth figures, the Total Value Locked (TVL) is in the spotlight. The coin saw a staggering 828% increase from $54.39 million in October 2023 to its current value of $319.23 million, as reported by DefiLlama. By extension, this increase in TVL makes SUI one of the best performing cryptocurrencies, underscoring its robust fundamentals.
2. Kava (KAVA)
KAVA remains steady at the $0.70 support, ready for a potential jump to $2 in the near term. In this regard, the company expects an impressive $10 in the next bullish wave. As of January 1, 2024, KAVA token inflation reached zero. This move marks a turning point, thrusting Kava Chain into the spotlight as the inaugural hard-capped, decentralized Proof-of-Stake Layer 1.
Likewise, it actively offers competitive on-chain rewards and has a community-owned Strategic Vault with significant assets of $300 million. Meanwhile, current sentiment surrounding Kava’s price forecast is leaning toward bearish. However, Kava’s symbolic inflation creates optimism, which is reflected in the neutral market trend. The Fear/Greed score is 50, as investors cling to the looming bull market.
1/ ????
Kava Chain has moved to a zero-inflation tokenomics model!
The Kava 15 update halted the creation of new KAVA tokens from January 1, 2024, setting a new precedent in the PoS landscape. pic.twitter.com/DRZKb0EDkf
— Kava (@KAVA_CHAIN) January 19, 2024
Along the same lines, Kava is positioned for remarkable growth; the token has good fundamentals and strong community support. Therefore, experts predict that KAVA Coin could rise above $2.43 by 2024. Nevertheless, this depends on possible collaborations with other networks and market trends. In a bullish crypto market, the average price is expected to rise around $2.20 within the same time frame.
3. Bit tensor (TAO)
Despite a 5.77% increase in the last 24 hours, the prevailing sentiment towards Bittensor’s price forecast remains bearish. However, there could be a bull on the horizon as the Fear & Greed Index remains firmly at 50. Furthermore, Bittensor is trading confidently above its 200-day simple moving average, which is a sign of market stability.
Furthermore, TAO’s price stands at $261.85, while trading volume has increased by 78% to $9.42 million. Moreover, the market capitalization has witnessed an increase of 5% to $1.60 billion, showing a market dominance of 0.10%. Based on market capitalization, these statistics make Bittensor the second highest ranked entity in the AI Crypto sector.
At the same time, Bittensor’s history unfolds in peaks and valleys, suggesting that Bittensor’s fortunes can always rebound. On December 14, 2023, it reached an all-time high of $394.91. On the other hand, the lowest point was recorded on May 14, 2023, at $31.74. Since hitting its all-time high, the post-ATH low came in at $193.77, marking a resilient stretch amid market fluctuations.
4.TRON (TRX)
Huawei Cloud’s Native Enterprise Service (NES) recently partnered with the TRON network. The goal is to streamline blockchain operations and improve accessibility for developers in the Web3 space.
Turning our attention to the price of TRON (TRX), it is experiencing an upward trajectory and trading above significant moving averages. Furthermore, the Bulls are actively pushing for a rally towards the channel’s upper trendline. As such, this sets the stage for potential buying action in the coming sessions.
Moreover, the growth of TRON’s weekly and monthly charts shows a consistent upward trend. At the same time, it has surpassed key values and maintained a strong position above crucial moving averages.
To look at #TRONICS! ????@HuaweiCloud1‘s NES now supports the #TRONNetworkimproving accessibility, streamlining blockchain operations, and providing advanced tools for developers and opportunities for participants in the #Web3 room. ???? pic.twitter.com/KB7sB8Dbhr
— TRON DAO (@trondao) January 23, 2024
With increasing buyer interest and proximity to the higher Bollinger band, a breakout is actively anticipated. Over the past week, the price of TRON has risen from $0.10 to $0.117. Based on current trends, projections point to a potential value of $0.1798 by the end of 2024.
5. Frax Stock (FXS)
Frax Share is in the spotlight as it gears up for the launch of SfrxETH on EigenLayer, scheduled for January 29. This native ETH LSD token from the Frax protocol has shown remarkable growth. In addition, the highly anticipated Fraxtal, Frax’s Layer-2 blockchain, will go live in the first week of February.
Furthermore, FXS is attracting the attention of the crypto community, with its Total Value Locked (TVL) exceeding $1 billion. Founder Sam Kazemian is optimistic about Fraxtal’s impact and anticipates TVL and market capitalization growth in the coming months. The launch is scheduled for the first week of February, with support via Fraxscan and numerous projects expected to debut.
Today FRAX v3s $FXB module goes live! This
completes the FRAX v3 design and implementation of all new features. This is a watershed moment due to the unique design and usability of FXBs within DeFi.???? pic.twitter.com/V0uR7El2it
— Frax Finance (¤, ¤) ???????? (@fraxfinance) January 19, 2024
Furthermore, this development marks a significant addition to Frax’s product suite, with projects such as Curve considering deploying their functionalities on Fraxtal. By leveraging roll-up technology for efficient transaction execution, Fraxtal adds a new dimension to the crypto space.
6. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix will reshape the Bitcoin cloud mining landscape with its innovative Stake-to-Mine mechanism, all powered by smart contracts. The project, described in the white paper, sets up a secure Ethereum platform, allowing users to stake and burn tokens to earn mining hashpower.
Furthermore, this forward-thinking approach effectively addresses common challenges associated with traditional cloud mining practices. With over 400,000 BTCMTX tokens currently staked, Bitcoin Minetrix has successfully raised an impressive $8.5 million in the ongoing pre-sale phase. This indicates significant investor interest and confidence.
Notably, Bitcoin Minetrix strategically implements a unique betting mechanism to reduce selling pressure upon its stock market debut. Furthermore, this strategic move positions the project for robust growth, emphasizing stability and sustainability.
Cloud mining provides a convenient gateway to #Bitcoin mining, eliminating the need for technical expertise, hardware configuration or maintenance. ????⚒️
Experience cost-effective mining using state-of-the-art equipment, without worrying about electricity costs or large drilling rigs. pic.twitter.com/lAQhhNC8k9
— Bitcoinminetrix (@bitcoinminetrix) January 23, 2024
With the current success in the pre-sale phase and a solid foundation laid by the Stake-to-Mine mechanism, Bitcoin Minetrix positions itself as a promising player in the crypto mining ecosystem. Investors and enthusiasts can anticipate the developments of the project as it introduces a new paradigm in Bitcoin cloud mining through the power of smart contracts.
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New Crypto Mining Platform – Bitcoin Minetrix
- Controlled by Coinsult
- Decentralized, secure cloud mining
- Earn free Bitcoin every day
- Native token now on pre-sale – BTCMTX
- Staking Rewards – Over 100% APY
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